SmartFinancial, Capstone Bancshares holders approve merger-related proposals
SmartFinancial and Capstone Bancshares jointly announced that their respective shareholders have approved the definitive merger agreement pursuant to which SmartFinancial will acquire Capstone. At separate shareholder meetings held on September 14th and September 15th, SmartFinancial and Capstone shareholders, respectively, voted to approve the proposals submitted to the shareholders related to the proposed merger of the companies, previously announced in May of this year. Pending the receipt of all required regulatory approvals and the satisfaction of the other remaining closing conditions set forth in the merger agreement, the companies expect to close the business combination in the fourth quarter of this year. Upon the completion of the transaction, the combined company is expected to have assets in excess of $1.5B with a presence in Tennessee, Georgia, Florida, and Alabama.