|  |         |                                                                                     |  |  |  |  |  |  |
|--|---------|-------------------------------------------------------------------------------------|--|--|--|--|--|--|
|  | ☒ | ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |

|  |         |                                                                                          |  |  |  |  |  |  |
|--|---------|------------------------------------------------------------------------------------------|--|--|--|--|--|--|
|  | ☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |

|                                                               |                                     |  |  |  |  |
|---------------------------------------------------------------|-------------------------------------|--|--|--|--|
| Tennessee                                                     | 62-1173944                          |
| (State or other jurisdiction ofincorporation or organization) | (I.R.S. EmployerIdentification No.) |

|                                                            |            |  |  |  |  |
|------------------------------------------------------------|------------|--|--|--|--|
| 5401 Kingston Pike, Suite 600Knoxville, Tennessee          | 37919      |
| (Address of principal executive offices)         | (Zip Code) |
|  (865) 437-5700                                       |            |
| (Registrant’s telephone number, including area code) |            |

|                                         |  |                   |  |                                      |  |  |  |  |  |  |  |  |  |  |
|-----------------------------------------|--|-------------------|--|--------------------------------------|--|--|--|--|--|--|--|--|--|--|
| Title of each class                     |  | Trading Symbol(s) |  | Name of Exchange on which Registered |
| Common Stock, par value $1.00 per share |  | SMBK              |  | The Nasdaq Stock Market              |

|                                      |                           |                               |                                   |  |  |  |  |  |  |  |  |
|--------------------------------------|---------------------------|-------------------------------|-----------------------------------|--|--|--|--|--|--|--|--|
| Large accelerated filer ☐ | Accelerated filer ☒ | Non-accelerated filer ☐ | Smaller reporting company ☒ |
| Emerging Growth Company ☐ |                           |                               |                                   |

----

|                                                               |                                                                                                                                                                                                                                        |                                                                                                           |  |  |  |
|---------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------|--|--|--|
| The following documents are filed as part of this report: |                                                                                                                                                                                                                                        |
| (1)                                                           |                                                                                                                                                                                                                                   | Financial Statements                                                                                      |
|                                                          |                                                                                                                                                                                                                                   |
|                                                          | The following report and consolidated financial statements of SmartFinancial and Subsidiary are included in Item 8:                                                                                                           |
|                                                          |                                                                                                                                                                                                                                   |
|                                                          | Report of Independent Registered Public Accounting Firms                                                                                                                                                                               |
|                                                          | Consolidated Balance Sheets as of December 31, 2019 and 2018                                                                                                                                                                           |
|                                                          | Consolidated Statements of Income for the years ended December 31, 2019 and 2018                                                                                                                                                       |
|                                                               | Consolidated Statements of Comprehensive Income for the years ended December 31, 2019 and 2018                                                                                                                                         |
|                                                          | Consolidated Statements of Changes in Stockholders’ Equity for the years ended December 31, 2019 and 2018                                                                                                                        |
|                                                          | Consolidated Statements of Cash Flows for the years ended December 31, 2019 and 2018                                                                                                                                                   |
|                                                          | Notes to Consolidated Financial Statements                                                                                                                                                                                             |
|                                                          |                                                                                                                                                                                                                                   |
| (2)                                                           |                                                                                                                                                                                                                                   | Financial Statement Schedules:                                                                        |
|                                                          |                                                                                                                                                                                                                                   |
|                                                          | Schedule II: Valuation and Qualifying Accounts                                                                                                                                                                                     |
|                                                          |                                                                                                                                                                                                                                   |
|                                                          | All other schedules for which provision is made in the applicable accounting regulation of the Securities and Exchange Commission are not required under the related instructions or are inapplicable and therefore have been omitted. |
|                                                          |                                                                                                                                                                                                                                   |
| (3)                                                           |                                                                                                                                                                                                                                   | The following documents are filed, furnished or incorporated by reference as exhibits to this report: |

|               |        |                                                                                                                                                                |        |                                                                              |  |  |  |  |  |  |  |  |  |  |
|---------------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------------------------------------------------------------------|--|--|--|--|--|--|--|--|--|--|
| Exhibit Index |        |                                                                                                                                                                |        |                                                                              |
|               |        |                                                                                                                                                                |        |                                                                              |
| Exhibit No.   |   | Description                                                                                                                                                    |   | Location                                                                     |
|               |        |                                                                                                                                                                |        |                                                                              |
| 2.1           |        | Agreement and Plan of Merger, dated as of May 22, 2017, by and among SmartFinancial, Inc., SmartBank, Capstone Bancshares, Inc. and Capstone Bank†       |        | Incorporated by reference to Exhibit 2.1 to Form 8-K filed November 7, 2017  |
|               |        |                                                                                                                                                                |        |                                                                              |
| 2.2           |        | Agreement and Plan of Merger, dated as of December 12, 2017, by and among SmartFinancial, Inc., Tennessee Bancshares, Inc., and Southern Community Bank† |        | Incorporated by reference to Exhibit 2.1 to Form 8-K filed December 13, 2017 |
|               |        |                                                                                                                                                                |        |                                                                              |
| 2.3           |        | Agreement and Plan of Merger, dated as of June 27, 2018, by and among SmartFinancial, Inc., Foothills Bancorp, Inc., and Foothills Bank & Trust†     |        | Incorporated by reference to Exhibit 2.1 to Form 8-K filed June 27, 2018     |
|          |   |                                                                                                                                                           |   |                                                                         |
| 2.4           |        | Agreement and Plan of Merger, dated as of October 29, 2019, by and between SmartFinancial, Inc. and Progressive Financial Group Inc.†                    |        | Incorporated by reference to Exhibit 2.1 to Form 8-K filed October 30, 2019  |
|               |        |                                                                                                                                                                |        |                                                                              |
| 3.1           |   | Second Amended and Restated Charter of SmartFinancial, Inc.                                                                                                    |   | Incorporated by reference to Exhibit 3.3 to Form 8-K filed September 2, 2015 |
|          |   |                                                                                                                                                           |   |                                                                         |
| 3.2           |   | Second Amended and Restated Bylaws of SmartFinancial, Inc.                                                                                                     |   | Incorporated by reference to Exhibit 3.1 to Form 8-K filed October 26, 2015  |
|          |   |                                                                                                                                                           |   |                                                                         |
| 4.1           |   | The right of securities holders are defined in the Charter and Bylaws provided in exhibits 3.1 and 3.2                                                         |   |                                                                         |
|          |   |                                                                                                                                                           |   |                                                                         |

----

|         |        |                                                                                                                                                                            |        |                                                                               |  |  |  |  |  |  |  |  |  |  |
|---------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------------------------------------------------------------------|--|--|--|--|--|--|--|--|--|--|
| 4.2     |   | Specimen Common Stock Certificate                                                                                                                                          |   | Incorporated by reference to Exhibit 4.2 to Form 10-K filed March 30, 2016    |
|         |        |                                                                                                                                                                            |        |                                                                               |
| 4.3     |        | Form of Fixed-to-Floating Rate Subordinated Note due October 2, 2028                                                                                                       |        | Incorporated by reference to Exhibit 4.1 to Form 8-K filed October 1, 2018    |
|    |   |                                                                                                                                                                       |   |                                                                          |
| 10.1**  |   | SmartFinancial, Inc. 2015 Stock Incentive Plan                                                                                                                             |   | Incorporated by reference to Exhibit H to the Form S-4 filed April 16, 2015   |
|    |   |                                                                                                                                                                       |   |                                                                          |
| 10.2**  |   | Form of 2015 Stock Incentive Agreement                                                                                                                                     |   | Incorporated by reference to Exhibit 10.2 to From 10-K filed March 30, 2016   |
|    |   |                                                                                                                                                                       |   |                                                                          |
| 10.3**  |   | SmartFinancial, Inc. 2010 Incentive Plan                                                                                                                                   |   | Incorporated by reference to Exhibit 10.6 to Form 8-K filed September 2, 2015 |
|    |   |                                                                                                                                                                       |   |                                                                          |
| 10.4**  |   | Form of Incentive Stock Option Certificate under SmartFinancial, Inc. 2010 Incentive Plan                                                                                  |   | Incorporated by reference to Exhibit 10.7 to Form 8-K filed September 2, 2015 |
|         |        |                                                                                                                                                                            |        |                                                                               |
| 10.5**  |        | SmartBank Stock Option Plan                                                                                                                                                |        | Incorporated by reference to Exhibit 10.5 to Form 8-K filed September 2, 2015 |
|         |        |                                                                                                                                                                            |        |                                                                               |
| 10.6**  |        | Form of Management Incentive Stock Option Agreement under SmartBank Stock Option Plan                                                                                      |        | Incorporated by reference to Exhibit 10.8 to Form 8-K filed September 2, 2015 |
|    |   |                                                                                                                                                                       |   |                                                                          |
| 10.7**  |   | Employment Agreement, dated as of February 1, 2015, by and among William Y. Carroll, Jr., SmartFinancial, Inc. and SmartBank                                               |   | Incorporated by reference to Exhibit 10.2 to Form 8-K filed September 2, 2015 |
|    |   |                                                                                                                                                                       |   |                                                                          |
| 10.8**  |   | Employment Agreement, dated as of February 1, 2015, by and among William Y. Carroll, Sr., SmartFinancial, Inc. and SmartBank                                               |   | Incorporated by reference to Exhibit 10.3 to Form 8-K filed September 2, 2015 |
|    |   |                                                                                                                                                                       |   |                                                                          |
| 10.9**  |   | Employment Agreement, dated as of April 15, 2015, by and among C. Bryan Johnson, SmartFinancial, Inc. and SmartBank                                                        |   | Incorporated by reference to Exhibit 10.4 to Form 8-K filed September 2, 2015 |
|    |   |                                                                                                                                                                       |   |                                                                          |
| 10.10** |   | Employment Agreement with Gary W. Petty, Jr. dated as of December 5, 2014, by and between Cornerstone Bancshares, Inc., Cornerstone Community Bank, and Gary W. Petty, Jr. |   | Incorporated by reference to Exhibit 10.3 to Form 8-K filed December 10, 2014 |
|         |        |                                                                                                                                                                            |        |                                                                               |
| 10.11** |        | First Amendment to Employment Agreement by and among Gary W. Petty, Jr., SmartFinancial, Inc. and Cornerstone Community Bank dated December 8, 2015                        |        | Incorporated by reference to Exhibit 10.2 to Form 8-K filed December 9, 2015  |
|    |   |                                                                                                                                                                            |   |                                                                          |
| 10.12   |   | Form of Subscription Agreement for 2015 Equity Financing                                                                                                                   |   | Incorporated by reference to Exhibit 10.1 to Form 8-K filed August 20, 2015   |
|    |   |                                                                                                                                                                       |   |                                                                          |
| 10.13   |   | Form of Registration Rights Agreement for 2015 Equity Financing                                                                                                            |   | Incorporated by reference to Exhibit 10.2 to Form 8-K filed August 20, 2015   |
|    |   |                                                                                                                                                                       |   |                                                                          |

----

|         |        |                                                                                                                                                              |        |                                                                                |  |  |  |  |  |  |  |  |  |  |
|---------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------------|--|--|--|--|--|--|--|--|--|--|
| 10.14** |   | Employment Agreement with Nathaniel F. Hughes, dated as of December 5, 2014, by and between Cornerstone Bancshares, Inc. and Nathaniel F. Hughes             |   | Incorporated by reference to Exhibit 10.2 to Form 8-K filed December 10, 2014  |
|    |   |                                                                                                                                                         |   |                                                                           |
| 10.15** |   | Cornerstone Bancshares, Inc. 2002 Long-Term Incentive Plan                                                                                                   |   | Incorporated by reference to Exhibit 99.1 to Form S-8 filed on March 5, 2004   |
|    |   |                                                                                                                                                         |   |                                                                           |
| 10.16** |   | Form of Unqualified Stock Option Award Agreement under 2002 Long-Term Incentive Plan                                                                         |   | Incorporated by reference to Exhibit 10.22 to Form 10-K filed March 30, 2016   |
|    |   |                                                                                                                                                         |   |                                                                           |
| 10.17** |   | Form of Stock Appreciation Rights Agreement                                                                                                                  |   | Incorporated by reference to Exhibit 10.1 to Form 8-K filed August 8, 2017     |
|    |   |                                                                                                                                                         |   |                                                                           |
| 10.18** |   | Form of Restricted Stock Award Agreement                                                                                                                     |   | Incorporated by reference to Exhibit 10.2 to Form 8-K filed August 8, 2017     |
|         |        |                                                                                                                                                              |        |                                                                                |
| 10.19** |        | Employment Agreement, dated as of February 1, 2015, by and among Rhett Jordan, SmartFinancial, Inc. and SmartBank                                            |        | Incorporated by Reference to Exhibit 10.21 to Form 10-K filed March 16, 2018   |
|         |        |                                                                                                                                                              |        |                                                                                |
| 10.20** |        | Employment Agreement, dated as of February 1, 2015, by and among Greg L. Davis and SmartBank                                                                 |        | Incorporated by Reference to Exhibit 10.21 to Form 10-K filed March 16, 2018   |
|         |        |                                                                                                                                                              |        |                                                                                |
| 10.21** |        | Employment Agreement, dated as of May 22, 2017, by and between SmartBank and Robert Kuhn                                                                     |        | Incorporated by reference to Exhibit 10.1 to Form 10-Q filed November 7, 2017  |
|         |        |                                                                                                                                                              |        |                                                                                |
| 10.22*  |        | Capstone Bancshares, Inc. 2008 Long-Term Equity Incentive Plan                                                                                               |        | Incorporated by reference to Exhibit 10.2 to Form 10-Q filed November 7, 2017  |
|         |        |                                                                                                                                                              |        |                                                                                |
| 10.23*  |        | Form of Award Agreement under Capstone Bancshares, Inc. 2008 Long-Term Incentive Plan                                                                        |        | Incorporated by reference to Exhibit 10.3 to Form 8-K filed November 7, 2017   |
|         |        |                                                                                                                                                              |        |                                                                                |
| 10.24*  |        | Salary Continuation Agreement, dated August 11, 2010, by and between Capstone Bank and Robert W. Kuhn                                                        |        | Incorporated by reference to Exhibit 10.4 to Form 8-K filed November 7, 2017   |
|         |        |                                                                                                                                                              |        |                                                                                |
| 10.25   |   | Loan Agreement, dated as of October 31, 2017, by and between SmartFinancial, Inc. and CapStar Bank                                                           |   | Incorporated by reference to Exhibit 2.2 to Form 10-Q filed November, 14, 2017 |
|         |   |                                                                                                                                                         |   |                                                                           |
| 10.26   |   | Stock Pledge and Security Agreement, dated as of October 31, 2017, by and between SmartFinancial, Inc. and CapStar Bank                                      |   | Incorporated by reference to Exhibit 2.3 to Form 10-Q filed November, 14, 2017 |
|         |   |                                                                                                                                                              |   |                                                                           |
| 10.27   |   | Line of Credit Note, dated as of October 31, 2017, executed by SmartFinancial, Inc. in favor of CapStar Bank                                                 |   | Incorporated by reference to Exhibit 2.4 to Form 10-Q filed November, 14, 2017 |
|         |        |                                                                                                                                                              |        |                                                                                |
| 10.28   |        | Form of Subordinated Note Purchase Agreement dated September 28, 2018, for SmartFinancial, Inc. Fixed-to-Floating Rate Subordinate Notes due October 2, 2028 |        | Incorporated by reference to Exhibit 10.1 to Form 8-K filed October 1, 2018    |
|         |        |                                                                                                                                                              |        |                                                                                |

----

|          |        |                                                                                           |        |                                                                                                   |  |  |  |  |  |  |  |  |  |  |
|----------|--------|-------------------------------------------------------------------------------------------|--------|---------------------------------------------------------------------------------------------------|--|--|--|--|--|--|--|--|--|--|
| 16.1     |        | Letter to the Securities and Exchange Commission from Mauldin & Jenkins, LLC          |        | Incorporated by reference to Exhibit 16.1 to Form 8-K filed March 27, 2018                        |
|          |        |                                                                                           |        |                                                                                                   |
| 21.1     |        | SmartFinancial, Inc. List of Subsidiaries                                                 |        | Filed herewith                                                                                    |
|     |   |                                                                                      |   |                                                                                              |
| 23.1     |   | Consent of Dixon Hughes Goodman LLP                                                       |   | Incorporated by reference to our Annual Report on Form 10-K filed with the SEC on March 12, 2020. |
|          |        |                                                                                           |        |                                                                                                   |
| 31.1     |   | Certification of Principal Executive Officer                                              |   | Filed herewith                                                                                    |
|     |   |                                                                                      |   |                                                                                              |
| 31.2     |   | Certification of Principal Financial Officer                                              |   | Filed herewith                                                                                    |
|     |   |                                                                                      |   |                                                                                              |
| 32.0     |   | Section 906 certifications of Principal Executive Officer and Principal Financial Officer |   | Filed herewith                                                                                    |
|     |   |                                                                                      |   |                                                                                              |
| 101.INS* |   | XBRL Instance Document                                                                    |   | Incorporated by reference to our Annual Report on Form 10-K filed with the SEC on March 12, 2020. |
|     |   |                                                                                      |   |                                                                                              |
| 101.SCH* |   | XBRL Taxonomy Extension Schema                                                            |   | Incorporated by reference to our Annual Report on Form 10-K filed with the SEC on March 12, 2020. |
|     |   |                                                                                      |   |                                                                                              |
| 101.CAL* |   | XBRL Taxonomy Extension Calculation Linkbase                                              |   | Incorporated by reference to our Annual Report on Form 10-K filed with the SEC on March 12, 2020. |
|     |   |                                                                                      |   |                                                                                              |
| 101.DEF* |   | XBRL Taxonomy Extension Definition Linkbase                                               |   | Incorporated by reference to our Annual Report on Form 10-K filed with the SEC on March 12, 2020. |
|     |   |                                                                                      |   |                                                                                              |
| 101.LAB* |   | XBRL Taxonomy Extension Label Linkbase                                                    |   | Incorporated by reference to our Annual Report on Form 10-K filed with the SEC on March 12, 2020. |
|     |   |                                                                                      |   |                                                                                              |
| 101.PRE* |   | XBRL Taxonomy Extension Presentation Linkbase                                             |   | Incorporated by reference to our Annual Report on Form 10-K filed with the SEC on March 12, 2020. |

----

|                          |         |                                                    |        |  |  |  |  |  |  |  |  |
|--------------------------|---------|----------------------------------------------------|--------|--|--|--|--|--|--|--|--|
|                     |    | SMARTFINANCIAL, INC.                               |   |
|                     |    |                                               |   |
| Date: March 13, 2020 | By: | /s/  William Y. Carroll, Jr.     |   |
|                     |    | William Y. Carroll, Jr.                            |   |
|                     |    | President and Chief Executive Officer and Director |   |
|                     |    | (principal executive officer)                      |   |

|        |         |                                                      |        |  |  |  |  |  |  |  |  |
|--------|---------|------------------------------------------------------|--------|--|--|--|--|--|--|--|--|
|   | By: | /s/  Ron Gorczynski                |   |
|   |    | Ron Gorczynski                                       |   |
|   |    | Executive Vice President and Chief Financial Officer |   |
|   |    | (principal financial officer and accounting officer) |   |