Pigeon Forge-based SmartBank is expanding into the Florida panhandle.
The bank has agreed to assume all of Gulf South Private Bank's deposits and assets after the FDIC seized it. Gulf South had about $159 million in assets and about $151 million in deposits as of June 30.
The purchase means SmartBank will have four locations in the Destin area. It currently serves clients in Sevierville, Pigeon Forge, Gatlinburg and Knoxville.