SmartFinancial Inc. and Cornerstone Bancshares Inc. completed their merger. The combined company will operate as Smart Financial Inc. Under the terms of the merger agreement and a concurrent 4-to-1 reverse stock split of CSBQ stock, each outstanding share of common stock held by legacy SmartFinancial shareholders will be converted into 1.05 shares of the surviving company's common stock. The surviving company's board includes the current seven members of the legacy SmartFinancial board and four legacy members of the previous Cornerstone Bancshares board.

Specifically, under the surviving company's leadership structure, Miller Welborn will serve as chairman, Bill Carroll will serve as vice chairman, and Billy Carroll will serve as president and CEO.