On January 30, 2017, SmartFinancial, Inc. (the “Company”) completed its previously announced public offering of 2,010,084 shares of its common stock, par value $1.00 per share, conducted to an Underwriting Agreement (the “Underwriting Agreement”), dated January 24, 2017, by and among the Company, Raymond James & Associates, Inc., as representative of the underwriters (the “Underwriters”), and certain selling shareholders of the Company. The offering included the sale of 1,840,000 shares, inclusive of 240,000 shares sold to the Underwriters upon their exercise of the over-allotment option set forth in the Underwriting Agreement. The offering also included 170,084 shares of common stock sold by certain shareholders of the Company. The net proceeds of the offering to the Company, after deducting the underwriting discount and estimated offering expenses payable by the Company, were approximately $33,223,353. The net proceeds to the selling shareholders were approximately $3,274,117, less applicable strike prices on shares obtained in connection with option exercises immediately prior to closing.

In connection with this offering, the Company agreed to pay the underwriting discount for all shares sold by certain selling shareholders. Additionally, the Underwriters agreed to reimburse the Company for up to $200,000 of its offering-related expenses.

The sale of the common stock was made to the Company’s shelf registration statement on Form S-3 (Registration No. 333-214802) and the final prospectus filed on January 26, 2017.

About SMARTFINANCIAL, INC. (NASDAQ:SMBK)

SmartFinancial, Inc., formerly Cornerstone Bancshares, Inc., is a bank holding company. The Company operates through its SmartBank subsidiary (The Bank). The principal business of the Bank consists of attracting deposits from the public and investing those funds, together with funds generated from operations and from principal and interest payments on loans. It offers commercial real estate-mortgage, consumer real estate-mortgage, construction and land development, commercial and industrial, and consumer and other loans. The Bank’s investment portfolio consists of Federal agency bonds, mortgage-backed securities, and state and municipal securities. The Bank provides a range of deposit services to businesses and individuals, including non-interest bearing checking accounts, interest bearing checking accounts, savings accounts, money market accounts, individual retirement accounts (IRAs) and certificates of deposit (CDs). SmartBank operates in approximately seven banking offices.

SMARTFINANCIAL, INC. (NASDAQ:SMBK) Recent Trading Information

SMARTFINANCIAL, INC. (NASDAQ:SMBK) closed its last trading session up +0.79 at 22.51 with shares trading hands.