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, Inc. (NASDAQ: SMBK) reported a strong third quarter of 2022 with net income of $11.5 million, or $0.68 per diluted share, marking an increase from $9.6 million year-over-year. Operating earnings rose 13% quarter-over-quarter, totaling $11.6 million. The company achieved net organic loan growth of over $109 million, with deposits increasing by $42 million. Net interest income saw a substantial 44% annualized growth. Nonperforming assets were stable at 0.10% of total assets. However, noninterest income decreased by $979,000 compared to the previous quarter.
SmartFinancial, Inc. (NASDAQ: SMBK) has announced that it will release its third-quarter 2022 earnings on October 24, 2022. A conference call will follow on October 25, 2022, at 10:00 a.m. ET, accessible via phone by dialing (833) 927-1758 or (646) 904-5544 with access code 380946. The call will be available for replay until December 24, 2022. Additional materials related to the earnings release will be available on the company's website on the same day at 9:00 a.m. ET.
SmartBank's subsidiary, Rains Insurance, has acquired the operating assets of Sunbelt Group, an independent insurance agency based in Chattanooga, TN, effective September 1, 2022. This acquisition marks Rains' first foray into independent insurance agencies. Sunbelt, established in 1984, offers personal, commercial, life, and health insurance with a specialty in transportation insurance. Rains aims to enhance its service areas across Tennessee and beyond, leveraging Sunbelt's experienced team and strong market connections.
SmartFinancial, Inc. (Nasdaq: SMBK) declared a quarterly cash dividend of $0.07 per share on July 28, 2022. The dividend is payable on August 29, 2022, to shareholders recorded by the close of business on August 12, 2022. This decision reflects the company's ongoing commitment to return value to shareholders.
SmartFinancial, based in Knoxville, Tennessee, operates SmartBank, a full-service commercial bank with branches in Tennessee, Alabama, and the Florida Panhandle.
SmartFinancial reported a net income of $10.2 million or $0.61 per diluted share for Q2 2022, up from $8.8 million in Q2 2021. Operating earnings climbed to $10.3 million, driven by strong organic loan growth of $206.8 million and a 14% rise in non-maturity deposits. Net interest income surged by $2.9 million to $33.1 million, with a net interest margin of 3.08%. Credit quality remains robust, with nonperforming assets at 0.11% of total assets. However, shareholders' equity decreased to $420.4 million, down $9 million from the end of 2021.
SmartFinancial, Inc. (NASDAQ: SMBK) will release its second-quarter 2022 earnings on July 25, 2022, followed by a conference call on July 26, 2022, at 10:00 a.m. ET. Investors can participate by dialing (844) 200-6205 or (646) 904-5544 with access code 357084. A replay will be available until September 26, 2022. SmartFinancial, headquartered in Knoxville, Tennessee, operates SmartBank, a full-service commercial bank serving Tennessee, Alabama, and the Florida Panhandle. More details will be available on their website prior to the call.
SmartFinancial, Inc. (Nasdaq: SMBK) declared a quarterly cash dividend of $0.07 per share on April 28, 2022, payable on May 31, 2022, to shareholders of record by May 13, 2022. The announcement reflects SmartFinancial's commitment to rewarding its shareholders amidst its operations across Tennessee, Alabama, and the Florida Panhandle.
SmartFinancial reported net income of $8.3 million, or $0.49 per diluted share, for Q1 2022, a decline from $9.8 million or $0.65 per share year-over-year. Operating earnings stood at $8.6 million, or $0.51 per diluted share, also lower than the previous year's $9.8 million. The company experienced notable growth in loans and deposits, with organic loan growth exceeding $136.9 million (21% annualized) and non-time deposits growing over $195.0 million (23% annualized). Credit quality remained robust, evidenced by nonperforming assets at 0.11% of total assets.
SmartFinancial, Inc. (NASDAQ: SMBK) will release its First Quarter 2022 earnings on April 25, 2022, followed by a conference call on April 26, 2022, at 10:00 a.m. ET. Participants can access the call at (844) 200-6205 or (646) 904-5544 using access code 293033. A replay will be available until June 28, 2022. Conference call materials, including the earnings release, will be available on the company's website here at 9:00 a.m. ET on the day of the call.
On January 27, 2022, SmartFinancial (Nasdaq: SMBK) announced a quarterly cash dividend of $0.07 per share, marking a 17% increase from the previous $0.06 dividend. The dividend will be payable on February 28, 2022, to shareholders of record as of February 11, 2022. This move reflects the company's strong performance and commitment to returning value to shareholders.
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