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Business Combinations (Tables) | 12 Months Ended
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Dec. 31, 2019
Foothills Bancorp [Member] |
Business Acquisition [Line Items] |
Schedule of Business Acquisitions | The following table details the financial impact of the merger, including the calculation of the purchase price, the allocation of the purchase price to the fair values of net assets assumed, and goodwill recognized, as of acquisition date:
Calculation of Purchase Price |
Shares of SMBK common stock issued to Foothills Bancorp shareholders as of November 1, 2018 | 1,183,232 |
Market price of SMBK common stock on November 1, 2018 | $ | 20.34 |
Estimated fair value of SMBK common stock issued (in thousands) | 24,067 |
Cash consideration paid (in thousands) | 6,069 |
Total consideration (in thousands) | $ | 30,136 |
Allocation of Purchase Price (in thousands) |
Total consideration above | $ | 30,136 |
Fair value of assets acquired and liabilities assumed: |
Cash and cash equivalents | 4,882 |
Investment securities available-for-sale | 48,091 |
Restricted investments | 551 |
Loans | 153,692 |
Premises and equipment | 3,622 |
Core deposit intangible | 3,670 |
Prepaid and other assets | 3,944 |
Deposits | (185,259) |
FHLB advances and other borrowings | (10,257) |
Payables and other liabilities | (276) |
Total fair value of net assets acquired | 22,660 |
Goodwill | $ | 7,476 |
Tennessee Bancshares [Member] |
Business Acquisition [Line Items] |
Schedule of Business Acquisitions | The following table details the financial impact of the merger, including the calculation of the purchase price, the allocation of the purchase price to the fair values of net assets assumed, and goodwill recognized, as of acquisition date:
Calculation of Purchase Price |
Shares of SMBK common stock issued to TN Bancshares shareholders as of May 1, 2018 | 1,458,981 |
Market price of SMBK common stock on May 1, 2018 | $ | 23.85 |
Estimated fair value of SMBK common stock issued (in thousands) | 34,797 |
Cash consideration paid (in thousands) | 5 |
Total consideration (in thousands) | $ | 34,802 |
Allocation of Purchase Price (in thousands) |
Total consideration above | $ | 34,802 |
Fair value of assets acquired and liabilities assumed: |
Cash and cash equivalents | 5,723 |
Investment securities available-for-sale | 24,563 |
Restricted investments | 464 |
Loans | 180,490 |
Premises and equipment | 9,470 |
Core deposit intangible | 2,290 |
Other real estate owned | 674 |
Prepaid and other assets | 2,207 |
Deposits | (202,272) |
FHLB advances and other borrowings | (4,000) |
Payables and other liabilities | (586) |
Total fair value of net assets acquired | 19,023 |
Goodwill | $ | 15,779 |

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- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1486-128463 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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