Welcome to our dedicated page for SmartFinancial news (Ticker: SMBK), a resource for investors and traders seeking the latest updates and insights on SmartFinancial stock.
SmartFinancial, Inc. (symbol: SMBK) operates as a bank holding company for SmartBank, providing a wide array of banking and financial services to both individual and corporate customers. The company’s core business is to attract deposits from the general public and invest those funds into various loan products. These loans include commercial loans, residential and commercial real estate loans, consumer loans, and construction loans for both residential and commercial purposes.
With its principal revenue source being interest income from earning assets such as loans and securities, SmartFinancial has consistently focused on maintaining a robust financial condition. The company’s recent achievements include maintaining a strong balance of PPP loans and achieving notable yields on tax-exempt instruments on a tax-equivalent basis.
SmartFinancial, Inc. is also committed to helping clients achieve their ideal retirement through strategic retirement planning. Investment advisory services are offered through Capital Asset Advisory Services, LLC, a registered investment adviser. It's important to note that SmartFinancial does not offer tax or legal advice and clients are encouraged to consult with appropriate professionals for those services.
In terms of financial performance, the company has demonstrated consistent growth with measured improvements in various financial metrics. The third and fourth quarters of 2023, as well as the first quarter of 2024, have shown significant financial progress. SmartFinancial, Inc. continues to enhance its service offerings and expand its customer base, thus solidifying its position in the financial services industry.
For further information, investors and interested parties can contact:
- Billy Carroll, President and Chief Executive Officer, Email: billy.carroll@smartbank.com, Phone: 865.868.0613
- Ron Gorczynski, Executive Vice President and Chief Financial Officer, Email: ron.gorczynski@smartbank.com, Phone: 865.437.5724
- Kelley Fowler, Senior Vice President, Public Relations/Marketing, Email: kelley.fowler@smartbank.com, Phone: 865.868.0611
SmartFinancial (NYSE: SMBK) has announced the schedule for its Third Quarter 2024 earnings release and conference call. The company plans to issue its earnings release on Monday, October 21, 2024, after market close. A conference call will follow on Tuesday, October 22, 2024, at 10:00 a.m. ET.
To participate in the interactive teleconference, investors can dial (833) 470-1428 or (404) 975-4839 and enter the access code 599429. A replay of the call will be available until December 21, 2024, by dialing (866) 813-9403 or (929) 458-6194 with the access code 195203.
Conference call materials, including the earnings release and presentation, will be published on SmartFinancial's website at http://www.smartfinancialinc.com/CorporateProfile at 9:00 a.m. ET on the day of the call.
SmartFinancial, Inc. (NYSE: SMBK), the parent company of SmartBank, has announced a quarterly cash dividend of $0.08 per share. This dividend was declared by the company's board of directors on July 25, 2024. The dividend will be payable on August 26, 2024, to shareholders who are on record as of the close of business on August 9, 2024. This regular dividend demonstrates SmartFinancial's commitment to providing consistent returns to its shareholders and may indicate the company's financial stability and confidence in its future performance.
SmartFinancial (NYSE: SMBK) reported Q2 2024 net income of $8.0 million, or $0.48 per diluted share, compared to $8.8 million, or $0.52 per share in Q2 2023. Operating earnings were $7.8 million, or $0.46 per diluted share. Key highlights include:
- Net organic loan and lease growth of $97 million, an 11% annualized increase
- Net interest margin expansion of 12 basis points to 2.97%
- 10% annualized increase in tangible book value per share
- 136,195 shares repurchased at an average price of $21.57
- Nonperforming assets to total assets ratio of 0.20%
The company experienced solid growth in operating revenue and improved margin inflection. Total assets reached $4.89 billion, with loans and leases increasing by $129.7 million to $3.57 billion. Deposits grew by $48.8 million to $4.32 billion.
SmartFinancial (NYSE: SMBK) has announced the release date for its Q2 2024 earnings report and the schedule for its conference call. The earnings release will be issued on July 22, 2024, with a conference call set for the following day, July 23, 2024, at 10:00 a.m. ET. Access to the call can be obtained by dialing specific phone numbers and using the provided access codes. A replay of the call will be available until August 22, 2024. Conference call materials, including the earnings release and presentation, will be published on SmartFinancial's website at 9:00 a.m. ET on the day of the call.
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