SMARTFINANCIAL, INC. (NASDAQ:SMBK) Files An 8-K Changes in Registrant’s Certifying AccountantItem 4.01 Changes in Registrant's Certifying Accountant.
(a)The audit committee (the “Audit Committee”) of the board of directors of SmartFinancial, Inc. (the “Company”) completed a review of the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2017. As a result of this review, on March 26, 2018, the Audit Committee informed Mauldin & Jenkins, LLC (“Mauldin & Jenkins”) of its decision to dismiss Mauldin & Jenkins as the Company's independent registered public accounting firm, effective as of March 22, 2018.
During the Company’s fiscal years ended December 31, 2016 and 2017, and the subsequent interim period through March 22, 2018, there were (i) no disagreements between the Company and Mauldin & Jenkins on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedures, which disagreements, if not resolved to Mauldin & Jenkins’ satisfaction, would have caused Mauldin & Jenkins to make reference to the subject matter of the disagreement in its report on the Company’s consolidated financial statements for the relevant year, and (ii) no “reportable events” as that term is defined in Item 304(a)(1)(v) of Regulation S-K.
The audit reports of Mauldin & Jenkins on the consolidated financial statements of the Company as of December 31, 2016 and 2017, contained no adverse opinion or disclaimer of opinion and were not qualified or modified as to uncertainty, audit scope or accounting principles.
The Company has provided Mauldin & Jenkins with a copy of this Form 8-K prior to its filing with the Securities and Exchange Commission (the “SEC”) and requested Mauldin & Jenkins to furnish to the Company a letter addressed to the SEC stating whether it agrees with the statements made above. A copy of Mauldin & Jenkins letter dated March 27, 2018 is attached as Exhibit 16.1 to this Form 8-K.
(b)On March 22, 2018, based upon the recommendation and approval of the Audit Committee, the Company selected Dixon Hughes Goodman LLP (“DHG”) as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2018. During the Company’s fiscal years ended December 31, 2016 and 2017, and the subsequent interim period through March 22, 2018, neither the Company, nor anyone on its behalf, consulted with DHG regarding either (i) the application of accounting principles to a specified transaction for the Company, either completed or proposed; or the type of audit opinion that might be rendered on the Company’s consolidated financial statements; and as such, no written report or oral advice was provided, and none was an important factor considered by the Company in reaching a decision as to the accounting, auditing, or financial reporting issues; or (ii) any
matter that was either the subject of a “disagreement” or a “reportable event” (within the meaning of Item 304(a)(1)(iv) and Item 304(a)(1)(v) of Regulation S-K, respectively).
Item 9.01 Financial Statements and Exhibits.
SMARTFINANCIAL INC. ExhibitEX-16.1 2 exhibit161-form8xk_4121807.htm EXHIBIT 16.1 Exhibit Exhibit 16.1March 27,…To view the full exhibit click
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.