Business Context and Reporting Period
Company: SMARTFINANCIAL INC. (SMBK)
Filing Type: Form 8-K (Current Report)
Date of Report: January 5, 2026
Event: Extension of an exchange offer for subordinated notes.
Key Financial Metrics
This filing does not report operational financial metrics such as revenue, profit, cash flow, margins, or liquidity. The only financial figure disclosed relates to the debt instrument involved in the exchange offer:
- Debt Instrument: 7.25% Fixed-to-Floating Rate Subordinated Notes due 2035.
- Aggregate Principal Amount: $100.0 million.
- Original Issuance Date: August 20, 2025 (Private Placement).
Material Changes
The material change reported is the extension of the deadline for the Exchange Offer. Holders of the $100.0 million in private placement notes may exchange them for registered notes with identical terms. The new expiration date for this offer is January 9, 2026, at 5:00 p.m. New York City time, unless further extended.
Guidance, Outlook, and Risks
Management Commentary: The company announced the extension to allow additional time for note holders to participate in the exchange.
Forward-Looking Statements: The filing includes standard cautionary language regarding forward-looking statements, noting that actual results may differ materially due to known and unknown risks. These risks are detailed in the company's most recent Form 10-K and subsequent filings.
Unusual Items: None reported beyond the standard exchange offer mechanics.
Investor Verification Checklist
- Verify the final acceptance rate of the exchange offer after the January 9, 2026 deadline.
- Confirm the registration status of the new notes being issued in exchange.
- Review the company's most recent Form 10-K for detailed risk factors affecting the subordinated notes.
- Monitor for any further extensions of the exchange offer deadline.