SmartBiz Acquires Centrust Bank

March 20, 2025

Bob Coleman
Founder & Publisher

SmartBiz Acquires Centrust Bank

Founded in 2006, the Chicago-based Centrust Bank primarily focused on business lending to small and medium-sized businesses, offering both conventional and SBA loan products.

In FY24, Centrust approved 16 SBA 7(a) loans totaling $22.4 million, ranking 198th nationwide.

The entire Centrust team has joined SmartBiz Bank to provide banking and lending services for current and future small business customers.

“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,” says 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.”

Since 2013, SmartBiz has funded 230,000 loans totaling over $9 billion.

Singer concludes, “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.”

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,” says Gerard.

“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.”