secwatch.observer — SEC 8-K summary
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Issuer:     SMARTFINANCIAL INC. (SMBK)
CIK:        0001038773
Form:       8-K
Filed at:   2022-09-06T23:59:59+00:00
Accession:  0001558370-22-014194
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SmartFinancial's Rains Agency acquires Sunbelt Group for $6.5M
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- Purchase price $6.5M; $5.2M cash at close, $1.3M deferred in equal installments in 2023 and 2024.
- Sunbelt is a Chattanooga-based independent insurance agency specializing in P&C, L&H, and transportation insurance.
- First independent insurance agency acquisition by Rains; Mark Slater joins as part of the transaction.
- Transaction effective September 1, 2022, expanding Rains' service area in Tennessee.
- Deferred payments subject to acceleration on change of control and set-off for indemnification.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1038773/000155837022014194/0001558370-22-014194-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1038773/000155837022014194/smbk-20220901x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-22-014194

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