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. reports developments for its bank holding company operations through SmartBank, a full-service commercial bank serving individuals and corporate customers across Tennessee, Alabama, and Florida. Company news centers on quarterly earnings, loan and deposit growth, net interest margin, credit quality, provisions for credit losses, and the performance of earning assets such as loans and securities.
Recurring updates also cover capital and shareholder actions, including regular cash dividends, share repurchase authorization, and subordinated note exchange activity. SmartFinancial’s releases commonly connect operating results with commercial, real estate, consumer, and construction lending activity at SmartBank.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
SmartFinancial, Inc. (NASDAQ: SMBK) reported strong first-quarter 2023 results, with net income of $11.5 million or $0.68 per diluted share, up 38% year-over-year from $8.3 million or $0.49 per share. Operating earnings, excluding securities gains and restructuring expenses, also increased to $11.5 million, representing a 34% rise compared to the previous year. Deposits grew by $152.4 million (15% annualized), while organic loans rose by $53 million (7% annualized). Despite a slight drop in net interest income to $36 million, the net interest margin decreased to 3.31% due to rising costs linked to Federal Reserve rate hikes. Credit quality remains stable with nonperforming assets at 0.11% of total assets. Total assets increased to $4.77 billion, contributing to a robust balance sheet.
SmartFinancial, Inc. (NASDAQ: SMBK) announced the schedule for its earnings release for the first quarter of 2023, set for April 24, 2023. The company will provide insights during a conference call on April 25, 2023, at 10:00 a.m. ET, accessible via dial-in numbers with an access code. The earnings release and presentation materials will be available on their website before the call.
SmartFinancial operates SmartBank, a full-service commercial bank founded in 2007, with locations across Tennessee, Alabama, and the Florida Panhandle. The bank emphasizes exceptional client service, strategic branching, and disciplined lending in its operations.