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.
SmartFinancial, Inc. (Nasdaq: SMBK) has declared a quarterly cash dividend of $0.08 per share, marking a 14% increase from the previous quarterly dividend of $0.07 announced in October 2022. This dividend will be payable on February 27, 2023, to shareholders of record as of February 10, 2023. The bank, headquartered in Knoxville, Tennessee, has been noted for its approach to client service and disciplined lending, contributing to consistent growth.
SmartFinancial, Inc. (NASDAQ: SMBK) reported a strong fourth quarter for 2022, with net income rising to $13.0 million, or $0.77 per diluted share, up 94% year-over-year. Operating earnings were $12.9 million, reflecting an 11% increase from the previous quarter and 48% from Q4 2021. Net interest income grew to $37.6 million, while net organic loan and lease growth exceeded $130.2 million, marking a 17% annualized increase. Credit quality remains stable, with nonperforming assets at just 0.10% of total assets. The company also saw an increase in noninterest income to $7.1 million, driven by various factors including the addition of Sunbelt Group, LLC.
SmartFinancial, Inc. (NASDAQ: SMBK) will release its Fourth Quarter 2022 results on January 23, 2023. A conference call to discuss the earnings will take place on January 24, 2023, at 10:00 a.m. ET. Interested participants can join the call by dialing (844) 200-6205 or (646) 904-5544, using access code 179408. A replay will be available until March 25, 2023. Conference call materials will be published on their website at 9:00 a.m. ET before the call.
SmartFinancial serves as the bank holding company for SmartBank, which operates branches across Tennessee, Alabama, and Florida.
SmartFinancial, Inc. (Nasdaq: SMBK) has declared a quarterly cash dividend of $0.07 per share, payable on November 29, 2022, to shareholders on record by November 14, 2022. This announcement highlights the company's commitment to returning value to its shareholders. SmartFinancial is the parent company of SmartBank, which operates branches across Tennessee, Alabama, and the Florida Panhandle, focusing on exceptional client service and disciplined lending practices.
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.