The Bank of Spring City received its Charter of Incorporation on May 31, 1890 and opened for business immediately thereafter. The first board of directors was elected on June 9, 1890. The board members were John E. Pyott, R. K. Watkins, J. B. Green, J. H. Green, and W. A. Bradley. Mr. Pyott was subsequently elected the first President of the Bank, and Mr. Bradley was Cashier. The board proudly announced a total operating Capital of $2,900.00

Since the first day of operation, over 78 years ago, the Bank of Spring City has prospered despite two major depressions, including the Bank Holiday of March 6, 1933. From the modest beginning of $2,900 in operating Capital. The Bank of Spring City has been the economic bulwark of the community. An outstanding number of citizens and businesses of the Spring City and Rhea County area can be counted as patrons and friends of the bank. The Bank of Spring City has steadfastly followed a policy of honest, efficient service and fair dealings with its customer and has substantially aided in all progressive movements of the Community.

The Bank of Spring City had its first home in what was once a Barber Shop. In 1925 the location was changed to the corner of Front Street and Rhea Avenue.  Those quarters were remodeled on two different occasions to keep pace with the growth of the bank. The Bank is still located on Front Street today and is know as Simply Bank.