secwatch.observer — SEC 8-K summary
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Issuer:     SMARTFINANCIAL INC. (SMBK)
CIK:        0001038773
Form:       8-K
Filed at:   2021-09-01T23:59:59+00:00
Accession:  0001558370-21-012158
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.01, 5.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SmartFinancial completes acquisition of Sevier County Bancshares for ~$44M
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- Deal value approx $44M; up to 1.8M SMBK shares issued and up to $4.5M cash paid.
- Combined company assets ~$4.1B as of June 30, 2021, adding scale in Pigeon Forge market.
- Board expanded to 14; John Presley appointed director, receives $1.05M severance from SCB.
- Amy Presley receives $251K severance; both subject to execution and non-revocation of release.
- Sevier County Bank merged into SmartBank; Alston & Bird, Performance Trust, Baker Donelson advised.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1038773/000155837021012158/0001558370-21-012158-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1038773/000155837021012158/smbk-20210901x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-21-012158

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer