PIGEON FORGE, TN – (Sept. 3, 2008) – SmartBank clients can now access multi-million dollar Federal deposit insurance. With the Certificate of Deposit Account Registry Service, or CDARS, clients can invest up to $50 million and still be eligible for FDIC insurance on every dollar. “With the safety and convenience that our Bank offers through CDARS, our clients have a new smart-option to help them manage their money,” said SmartBank President & CEO Billy Carroll. “By offering CDARS, our clients now have the option to place their funds with only one institution providing one statement. The simplicity of using CDARS can be appealing for some clients.”
Through a sophisticated computer network, SmartBank places customer deposits with other FDIC-insured banks, allowing clients to manage all their funds through one portfolio with one bank – at SmartBank. Customers benefit from the ease of working with only one institution, saving time and multiple paper documents.
SmartBank serves Sevier County with three branches and offers the most innovative technology and services with extended hours from 8:00 am – 6:00 pm Monday through Friday (drive-thru opens at 7:30) and Saturday banking from 8:00 am – 12:00 pm. SmartBank opened in January 2007, and has grown to $210 million in assets, $171 million in loans and $170 million in deposits. For more information, please visit www.smartbank.net or call 865.453.2650.