SmartBiz Acquires Centrust Bank and United Community Bancshares
March 17, 2025
SmartBiz (formerly SmartBiz Loans) closed its acquisition of United Community Bancshares, Inc. and its wholly owned subsidiary Centrust Bank, N.A., receiving regulatory approval to operate as a bank and bank holding company under the SmartBiz Bancshares, Inc. banner. The deal brings Centrust’s commercial banking team and SBA lending capabilities into SmartBiz Bank to expand technology-enabled lending and full-service banking for small and medium-sized businesses nationwide.
- Buyers
- SmartBiz (SmartBiz Loans / SmartBiz Bank, N.A.)
- Targets
- United Community Bancshares, Inc., Centrust Bank, N.A.
- Sellers
- United Community Bancshares, Inc.
- Industry
- Financial Services
- Location
- Illinois, United States
- Transaction Type
- Buyout
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