SmartFinancial in Knoxville, Tenn., has agreed to buy a branch in Tennessee from a division of Atlantic Capital Bank in Atlanta.
The $1 billion-asset SmartFinancial said in a press release Friday that it will also gain about $33 million in deposits and $32 million in loans and other assets when it buys the Cleveland, Tenn., location from the $2.8 billion-asset Atlantic. SmartFinancial did not disclose the price it will pay.
The deal is expected to close in the first quarter.
"This acquisition provides an incredible opportunity to expand our presence in Tennessee and introduce our brand and excellent client service to Bradley County," SmartBank President and CEO Billy Carroll said in the release.
Troutman Sanders advised Atlantic, while Butler Snow advised SmartFinancial.