SmartBiz and Centrust will combine forces to help fuel growth of small businesses nationwide
San Francisco, CA – March 18, 2025 – SmartBiz announced today the closing of its acquisition of United Community Bancshares, Inc. and its wholly-owned subsidiary, Centrust Bank, N.A. The combined company, renamed SmartBiz Bank, N.A. (“SmartBiz BankSM”), will operate under the bank holding company, SmartBiz Bancshares, Inc. This transaction recently received regulatory approval from the Office of the Comptroller of the Currency and the Federal Reserve Bank of Chicago.
SmartBiz’s evolution into a bank furthers its mission of empowering business owners to thrive by providing access to the financial services they need. With this strategic acquisition, SmartBiz Bank will meet the dynamic needs of entrepreneurs and small businesses across the U.S. to fuel the growth of the small business community.
“Small businesses are the backbone of the U.S. economy, yet their banking needs are often overlooked by traditional banks. We are building a bank designed specifically to serve small businesses,” said Evan Singer, Chief Executive Officer of SmartBiz Bank. “Small business owners need financing and banking solutions designed for their unique financial needs. As a bank, we will continue offering clients the best SBA lending options while evolving to become a full-service financial solutions provider for our nation’s small businesses. From providing access to streamlined funding to offering personalized guidance, we are committed to helping small business owners succeed on their terms.”
Merging with a Leader in Commercial Banking
Founded in 2006, Centrust Bank is a Chicago-based community bank primarily focused on business lending to small to medium-sized businesses, offering both conventional and SBA loan products. Its team of experienced commercial bankers delivers superior commercial banking services and a full spectrum of deposit, lending, and online banking products and services. It will continue to provide these vital small business banking services as Centrust Bank, a division of SmartBiz Bank, N.A. Its entire team joins SmartBiz Bank to provide complementary and robust banking and lending services for current and future small business customers. Gerard Buccino, formerly CEO of Centrust Bank, is now President of SmartBiz Bank.
"For years, Centrust Bank has been committed to building strong relationships with small businesses, ensuring they have the capital and financial expertise needed to thrive," said Buccino. "By joining forces with SmartBiz, we are combining the best of both worlds—our deep commercial banking experience with their technology-driven approach to SBA lending. Together, we are scaling our capabilities, equipping more small business owners nationwide with the funding and strategic guidance they need to grow, innovate, and navigate an ever-changing economic landscape."
A Rich History of Facilitating Small Business Growth
SmartBiz has been serving the small business community since 2013, specializing in loans up to $500,000. By blending technology with personalized customer service, the company transformed the small business loan process, making it simpler and more accessible while ensuring compliance and loan performance. With over 230,000 loans facilitated for over $9 billion, SmartBiz has helped countless small business owners secure vital capital, driving their growth, stability, and success in a competitive market.
Singer added, “SmartBiz Bank’s approach differs in its ability to address customers’ long-term financial needs by providing technology-enabled, thoughtful, secure, and innovative financial solutions with the added stability and capabilities of a full-service commercial bank. SmartBiz Bank is redefining small business banking and fueling the growth of the U.S. small business community.”
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About SmartBiz Bank, N.A.
SmartBiz Bank N.A. was formed in 2025 when SmartBiz Loans, a leader in small business lending, acquired Centrust Bank, known for its excellence in small business community banking. SmartBiz Bank provides a range of technology-enabled banking solutions for small businesses, including offering SBA loans nationally, personalized customer service, and a commitment to compliance and transparency that delivers an exceptional banking experience. SmartBiz is headquartered in Chicago, IL, with administrative offices in Austin, TX and San Francisco, CA. For more information, please visit smartbizbank.com.
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