Exhibit 99.1
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2Q 2017
  
SmartFinancial Reports Second Quarter Diluted Earnings Per Share of $0.20, up 33% Year over Year
 
KNOXVILLE, TN - July 25, 2017 - SmartFinancial, Inc. ("SmartFinancial"; NASDAQ: SMBK), announced today net income of $1.6 million in its second quarter of 2017, compared to $1.2 million a year ago. Net income available to common shareholders totaled $1.6 million for second quarter of 2017 compared to $0.9 million during the second quarter of 2016.

Billy Carroll, President & CEO, stated: "In the second quarter net income was up over thirty-eight percent from a year ago as we continue to leverage capital while controlling expenses to increase profitability. Compared to last year we grew net interest income by seven percent while limiting noninterest expense increases to four percent. We increased net interest income not only by growing gross loans, twelve percent year over year, but also by increasing asset yields and thus keeping our net interest margin above four percent. Over the same period we were able to reduce the efficiency ratio by over three percentage points, in spite of $420 thousand merger and conversion costs during the current quarter. We look forward to the second half of 2017 which we believe will be even stronger than the first.”
 
SmartFinancial's Chairman, Miller Welborn, concluded: "During the last quarter we continued to achieve our goal of increasing the value of our franchise by expanding the footprint with strategic accretive acquisitions, prudently growing organically in great markets, and increasing our efficiencies every single day. We completed the acquisition of our branch in Cleveland, Tennessee, and announced our pending acquisition of Capstone Bancshares in Alabama, which we expect to close the fourth quarter this year. At the same time we organically grew loans by over $35 million and were able to increase net interest margin even with a slight increase in deposit costs. Perhaps most importantly, we have done all of this while controlling expense growth by reducing operational headcount while increasing the number of client facing associates. Finally we are proud that our company was recognized as a 'Top place to work 2017' by the Knoxville News Sentinel, which truly illustrates what a great culture we have created."
 
Performance Highlights 
Net income available to common shareholders totaled $1.6 million during the second quarter of 2017 compared to $0.9 million during the second quarter of 2016 while net operating earnings available to common shareholders increased to $1.6 million from $0.6 million over the same period.
Closed acquisition of Cleveland, Tennessee, branch purchasing approximately $24.4 million in loans and assuming $24.8 million in deposits, in book value, resulting in approximately $1.0 million in intangible assets.
Gross loan growth of $58 million for the quarter driven by over $35 million in organic growth.
Increased net interest margin, taxable equivalent, compared to the prior the quarter to 4.15 percent due to higher average loan balances and increases the yields of the securities portfolio.
Asset quality was outstanding with nonperforming assets to total assets dropping to just 0.31 percent.

Second Quarter 2017 compared to Second Quarter 2016
Net income available to common shareholders totaled $1.6 million in the second quarter of 2017, or $0.20 per diluted share, compared to $0.9 million, or $0.15 per diluted share, in the second quarter of 2016. Net operating earnings available to common shareholders, which excludes purchased loans accounting adjustments, securities gains, merger and conversion costs, and foreclosed assets gains and losses, totaled $1.6 million in the second quarter of 2017 compared to $0.6 million in the second quarter of 2016.

Net interest income to average assets of 3.81 percent for the quarter decreased from 3.88 percent in the second quarter of 2016 as the percentage of non-earning assets increased compared to the prior year. Net interest income totaled $10.2 million in the second quarter of 2017 compared to $9.6 million in the second quarter of 2016. Net interest income was positively impacted compared to the prior year primarily due to increases in loan balances. Net interest margin, taxable equivalent, decreased slightly from 4.16 percent in the second quarter of 2016 to 4.15 percent in the second quarter of 2017 as a result of higher costs on interest-bearing deposits.

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The following information was filed by Smartfinancial Inc. (SMBK) on Tuesday, July 25, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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