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SmartFinancial Inc (SMBK) delivers essential banking services through its SmartBank subsidiary, specializing in commercial lending and deposit strategies. This news hub provides investors with timely updates on the company's financial developments and market positioning.
Access comprehensive coverage of SMBK's operational milestones including quarterly earnings disclosures, regulatory updates, and leadership announcements. Our curated news selection helps stakeholders track interest income trends, loan portfolio performance, and strategic initiatives within the competitive banking sector.
Key updates include analysis of commercial lending activities, residential mortgage developments, and risk management practices. Bookmark this page for streamlined access to press releases and financial filings that impact SMBK's market valuation and operational strategy.
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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