SmartFinancial to acquire Progressive Financial Group for $41m.

SmartFinancial, a publicly traded bank holding company for SmartBank based in Knoxville, Tennessee, agreed to acquire Progressive Financial Group, which serves as the holding company for Jamestown, Tennessee-based Progressive Savings Bank, for $41m. “This partnership enhances our strategic vision of building stronger market share in Tennessee. We have a proven ability to excel in college markets such as Chattanooga, Knoxville, Murfreesboro and Tuscaloosa. The addition of Cookeville, home of Tennessee Tech University with a student body in excess of 10k, is a logical extension of our footprint that will further enhance our franchise,” Miller Welborn, Chairman of the Board of SmartFinancial.