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 (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) 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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