Capstone Bancshares, Inc. | Stephens

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What We Do

We provide investment banking, research, sales and trading, asset and wealth management, public finance, insurance, private capital, and family office services.

About Us

We are a family-owned financial services firm that values client relationships, long-term stability, and supporting the communities where we live and work.

The Stephens Story

The idea of family defines our culture, because each of us knows that our reputation is on the line as if our own name was on the door.


Our reputation as a leading independent financial services firm is built on the stability of our longstanding and highly experienced senior executives.

Impact Initiatives

We are committed to corporate philanthropy; economic and financial literacy advocacy; and diversity, equity, and inclusion initiatives.

Our Brand Ambassadors

Stephens is proud to sponsor the PGA TOUR, LPGA Tour, and PGA TOUR Champions careers, as well as applaud the philanthropic endeavors, of our Brand Ambassadors.

Making Connections

We host many highly informative meetings each year with clients, industry decision makers, and thought leaders across the U.S. and in Europe.

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Financial Advisor

Capstone Bancshares, Inc.

Value Not Disclosed 05/22/2017 Depository Complete
Lead Banker: Brian Branson
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Transaction Details

  • The combined bank will have assets exceeding $1.5 billion with banking operations in Tennessee, Alabama, and the Florida Panhandle
  • Transaction Value: $84.8 million
  • Capstone shareholder election for 0.85 shares of SMBK stock per share of Capstone, $18.50 per share in cash or a combination thereof
  • Overall consideration mix of approximately 80% stock / 20% cash
  • Approximately 27% pro forma ownership for Capstone
  • Price / LTM Net Income: 22.0x
  • Price / TBV: 1.59x
  • Capstone’s CEO will become Regional President of Alabama and the Florida Panhandle
  • 2 existing Capstone directors will join SmartFinancial’s Board
  • Expected Closing: Q4 2017
Sources: Company filings, SNL Financial and publicly available information.
  1. Note: Financial information as of or for the period ended March 31, 2017. Market data as of May 22, 2017.

    (1) Represents bank level data.

    This material has been prepared solely for informative purposes as of its stated date and is not a solicitation, or an offer, to buy or sell any security. It does not purport to be a complete description of the securities, markets or developments referred to in the material. Information included in the material was obtained from external sources which we consider reliable, but we have not independently verified such information and do not guarantee that it is accurate or complete. Such information is believed to be accurate on the date of issuance of the material. No subsequent publication or distribution of this material shall mean or imply that any such information or opinion remains current at any time after the stated date of the material. The publicly filed investor presentation can be found by clicking here. We do not undertake to advise you of any changes in any such information or opinion. Additional information is available upon request.