Progressive Savings Bank

Progressive Savings Bank was established on June 6, 1980, originally named Progressive Savings and Loan Association. The institution underwent significant changes on April 30, 1989, when it restructured to become a Stock Savings Bank and adopted its current name, Progressive Savings Bank. On November 4, 2010, the bank further transitioned by changing its organization type to a Commercial Bank, its primary federal regulatory agency to the Federal Deposit Insurance Corporation (FDIC), and its chartering agency to the State, while also becoming classified as a State Chartered Bank not a member of the Federal Reserve System. Subsequently, on August 22, 2003, the main office of Progressive Savings Bank was relocated to 500 North Main Street in Jamestown, Tennessee. The bank's history culminated on March 1, 2020, when it merged with SmartBank, located in Pigeon Forge, Tennessee, marking the end of its independent operations.

Below is a list of some important events in banks history, including mergers and acquisitions.

1980-06-06Institution established. Original name: Progressive Savings and Loan Association.

1989-04-30Changed Chartering Agency to Ots.

1989-04-30Changed Organization Type to Stock Savings Bank.

1989-04-30Changed Institution Name to Progressive Savings Bank.

2003-08-22Main Office moved to 500 North Main Street, Jamestown, TN 38556.

2010-11-04Changed Chartering Agency to State.

2010-11-04Changed Bank Class to State Chartered Bank, not member of the Federal Reserve System (FRS).

2010-11-04Changed Primary Federal Regulatory Agency to FDIC.

2010-11-04Changed Institution Name to Progressive Savings Bank.

2010-11-04Changed Organization Type to Commercial Bank.

2020-03-01Merged and became part of SmartBank in Pigeon Forge, TN.