Exhibit 99.1
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3Q 2017
  
SmartFinancial Increases Net Income Available to Common Shareholders 26 percent compared to prior year
 
KNOXVILLE, TN - October 30, 2017 - SmartFinancial, Inc. ("SmartFinancial"; NASDAQ: SMBK), announced today net income of $1.7 million in its third quarter of 2017, compared to $1.6 million a year ago. Net income available to common shareholders totaled $1.7 million for third quarter of 2017 compared to $1.3 million during the third quarter of 2016.

Billy Carroll, President & CEO, stated: "In the third quarter net income was up five percent from a year ago. Compared to last year we grew net interest income over one million dollars by growing gross loans nine percent year over year and by increasing asset yields and our net interest margin. During the last quarter we added revenue producers in several markets and operations personnel to support them and the pending acquisition of Capstone Bancshares in Alabama. Those additions resulted in an increase in salaries and benefits that, along with over three hundred thousand dollars in merger and conversion costs during the current quarter, temporarily elevated our efficiency ratio. We anticipate additional merger related costs for the next two quarters with the integration of Capstone Bancshares after which time efficiencies will improve. Our team has done a great job of balancing the merger planning while growing the core bank.”
 
SmartFinancial's Chairman, Miller Welborn, concluded: "We are looking forward to completing the acquisition of Capstone Bancshares. Our resulting company will have assets of approximately $1.6 billion. The company's larger scale will lead to increased efficiencies and should result in a higher return on assets by the second quarter of 2018. Just as exciting as completing this acquisition are the future opportunities available for the company. We believe by expanding our geographic footprint we are positioning the company as a 'partner of choice' among other community banks in the Southeast. "
 
Performance Highlights 

Net income available to common shareholders of $1.7 million for the quarter, up from $1.3 million a year ago.
Net interest margin, taxable equivalent, increased to 4.17 percent, the highest in the past five quarters.
Increased average interest-earning assets to average interest-bearing liabilities to 128 percent.

Third Quarter 2017 compared to Third Quarter 2016

Net income available to common shareholders totaled $1.7 million in the third quarter of 2017, or $0.20 per diluted share, compared to $1.3 million, or $0.22 per diluted share, in the third quarter of 2016. Net operating earnings available to common shareholders, which excludes securities gains, foreclosed assets gains and losses, and merger and conversion costs, totaled $1.8 million in the third quarter of 2017 compared to $1.3 million in the third quarter of 2016.

Net interest income to average assets of 3.81 percent for the quarter increased from 3.77 percent in the third quarter of 2016 as the average earning asset balances and yields increased compared to the prior year. Net interest income totaled $10.9 million in the third quarter of 2017 compared to $9.7 million in the third quarter of 2016. Net interest income was positively impacted compared to the prior year due to increases in loan balances and increases in the yields of the loan and securities portfolios. Net interest margin, taxable equivalent, increased from 4.03 percent in the third quarter of 2016 to 4.17 percent in the third quarter of 2017 as a result a higher percentage of average interest-earning assets to average interest-bearing liabilities and increases in the yield on earning assets.

Provision for loan losses was $30 thousand in the third quarter of 2017, compared to $261 thousand in the third quarter of 2016. The decrease in provision for loan losses was due to improvements in the credit profile of the loan portfolio as well as slower loan growth during the period. Annualized net charge-offs (recoveries) was (0.02) percent of average loans in the third quarter of 2017. The ALLL was $5.4 million, or 0.62 percent of total loans as of September 30, 2017, compared to $5.0 million, or 0.62 percent

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The following information was filed by Smartfinancial Inc. (SMBK) on Monday, October 30, 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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