Sale of Insurance Company |
12 Months Ended | ||||||||||||||||||||||||||||
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Dec. 31, 2025 | |||||||||||||||||||||||||||||
| Sale of Insurance Company | |||||||||||||||||||||||||||||
| Sale of Insurance Company | Note 2. Sale of Insurance Company On September 5, 2025, SmartBank, a wholly-owned subsidiary of the Company, sold 100% of the equity interests of SBKI and ceased to provide insurance-related activities for the Company. The sales price totaled $11.5 million and resulted in an after-tax gain, net of transaction cost, of approximately $2.9 million.
Based on management’s review of ASC 205-20-45, the sale of SBKI was determined not to have met all the necessary criteria to be considered discontinued operations at, or prior to, the time of the sale. |
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- References No definition available.
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- Definition The entire disclosure for business combination. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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