Company United Tennessee Bankshares, Inc.

United Tennessee Bankshares, Inc. is the holding company for Newport Federal Bank (the Bank). The Bank's principal business consists of accepting deposits from the public through its main office and branch offices, then investing those funds in loans secured by one-to-four-family residential properties located in its primary market area, in addition to originating a limited amount of commercial real estate loans and consumer loans. The Bank provides financial services to individual and corporate customers through its three offices in Newport, Tennessee. The Bank's primary deposit products are interest-bearing checking and savings accounts and certificates of deposit. Its primary lending products are one-to-four family first mortgage loans. The Bank also maintains a portfolio of investment securities. The Bank’s investment securities portfolio consists of United States government corporations and agency securities, municipal bonds of governmental entities in Tennessee, and others.