SMARTFINANCIAL, INC. Enters Material Definitive Agreement
Ticker: SMBK · Form: 8-K · Filed: Jan 24, 2025 · CIK: 1038773
Sentiment: neutral
Topics: material-agreement, financial-obligation
TL;DR
SMARTFINANCIAL just signed a big deal creating new financial obligations.
AI Summary
On January 21, 2025, SMARTFINANCIAL, INC. entered into a material definitive agreement, which also created a direct financial obligation for the registrant. The filing details this agreement and related financial obligations.
Why It Matters
This filing indicates a significant new financial commitment or partnership for SMARTFINANCIAL, INC., which could impact its financial obligations and future operations.
Risk Assessment
Risk Level: medium — Entering into material definitive agreements and creating financial obligations can introduce new risks related to the terms of the agreement and the company's ability to meet those obligations.
Key Players & Entities
- SMARTFINANCIAL, INC. (company) — Registrant
- January 21, 2025 (date) — Date of earliest event reported
FAQ
What type of material definitive agreement did SMARTFINANCIAL, INC. enter into?
The filing states that SMARTFINANCIAL, INC. entered into a material definitive agreement, but the specific details of the agreement are not provided in this excerpt.
What is the nature of the direct financial obligation created?
The filing indicates the creation of a direct financial obligation for the registrant, but the specific terms and amount of this obligation are not detailed in this excerpt.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing was on January 21, 2025.
What is SMARTFINANCIAL, INC.'s state of incorporation and IRS Employer Identification No.?
SMARTFINANCIAL, INC. is incorporated in Tennessee and its IRS Employer Identification No. is 62-1173944.
What are the business and mail addresses for SMARTFINANCIAL, INC.?
The business and mail addresses for SMARTFINANCIAL, INC. are 5401 Kingston Pike, Suite 600, Knoxville, TN 37919.
Filing Stats: 616 words · 2 min read · ~2 pages · Grade level 10.7 · Accepted 2025-01-24 17:00:13
Key Financial Figures
- $1.00 — ch Registered Common Stock, par value $1.00 per share SMBK New York Stock Exchan
Filing Documents
- smbk-20250121x8k.htm (8-K) — 43KB
- smbk-20250121xex10d1.htm (EX-10.1) — 7KB
- smbk-20250121xex10d1001.jpg (GRAPHIC) — 6KB
- 0001558370-25-000410.txt ( ) — 178KB
- smbk-20250121.xsd (EX-101.SCH) — 3KB
- smbk-20250121_lab.xml (EX-101.LAB) — 16KB
- smbk-20250121_pre.xml (EX-101.PRE) — 10KB
- smbk-20250121x8k_htm.xml (XML) — 5KB
01
Item 1.01 Entry into a Material Definitive Agreement On January 21, 2025, SmartFinancial, Inc. (the " Company "), a Tennessee corporation and the parent of SmartBank, a Tennessee state-chartered bank (the " Bank "), received confirmation from ServisFirst Bank (the " Lender ") that the maturity date in respect of that certain Amended and Restated Revolving Note dated February 1, 2023 (the " Revolving Note ") has been extended to May 1, 2025 (the " Extension Letter "). A copy of the Extension Letter is filed herewith as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference. The foregoing descriptions of the Extension Letter and Revolving Note do not purport to be complete and are qualified in their entirety by reference to the full text of the Extension Letter and the Revolving Note, which are filed as Exhibits 10.1 and 10.2 to this Current Report on Form 8-K and incorporated herein by reference.
03
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information set forth under Item 1.01 is incorporated by reference in this Item 2.03 in its entirety.
Financial Statements and Exhibits
Financial Statements and Exhibits Exhibit No. Description of Exhibit 10.1 Extension Letter, dated as of January 21, 2025, by and between SmartFinancial, Inc., as Borrower, and ServisFirst Bank, as Lender.* 10.2 The Amended and Restated Revolving Note, dated as of February 1, 2023, by and between SmartFinancial, Inc., as Borrower, and ServisFirst Bank, as Lender ( Incorporated by reference to Exhibit 10.1 to Form 8-K filed February 6, 2023). 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) * Filed herewith
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. SMARTFINANCIAL, INC. Date: January 24, 2025 /s/ William Y. Carroll, Jr. William Y. Carroll, Jr. President & Chief Executive Officer