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Financial Advisor

Capstone Bancshares, Inc.

Value Not Disclosed 05/22/2017 Depository Complete
Lead Banker: Brian Branson
Show Tombstone

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.