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. (NYSE: SMBK) news coverage centers on its role as a Knoxville, Tennessee-based bank holding company for SmartBank, a full-service commercial bank founded in 2007 with branches across Tennessee, Alabama, and Florida. Company press releases and SEC Form 8-K filings provide regular updates on financial performance, capital actions, and corporate developments affecting SMBK stock.
Investors following SmartFinancial news will find detailed quarterly earnings announcements that discuss net income, operating earnings, net interest income, net interest margin, loan and lease growth, deposit trends, noninterest income and expense, and credit quality metrics such as nonperforming assets. These earnings releases are typically paired with investor conference calls and slide presentations, which the company files as exhibits to Form 8-K.
News for SMBK also includes board decisions on regular quarterly cash dividends, with corresponding press releases and Regulation FD disclosures outlining record dates and payment dates. Capital and funding developments are another recurring theme, such as the issuance of 7.25% Fixed-to-Floating Rate Subordinated Notes due 2035 and subsequent registered exchange offers for those notes, as described in SmartFinancial’s 8-K filings and Business Wire announcements.
Corporate actions and strategic transactions appear in SmartFinancial’s news flow as well. For example, a Form 8-K reports the sale of SBK Insurance Inc. by SmartBank and the establishment of a continuing strategic relationship, along with SmartFinancial’s minority ownership interest in the purchaser’s parent entity. Earnings-related news often highlights these transactions alongside balance sheet trends, providing context on how they affect capital, noninterest income, and long-term positioning.
This SMBK news page aggregates such company-issued releases and regulatory disclosures so readers can review SmartFinancial’s earnings results, dividend announcements, subordinated debt activity, and notable subsidiary transactions in one place.
SmartBank, a subsidiary of SmartFinancial (NASDAQ: SMBK), is expanding its presence in Alabama by hiring experienced banker teams. The bank has announced new leadership in Montgomery and Dothan, with Donna Cooper and Jeff Williams appointed to lead these regions. Montgomery, a growing economic hub, has recently seen significant industrial investment, while Dothan is recognized for its retail and medical services. SmartBank will also prioritize expansion in Birmingham, led by Lee Smith. This strategy aims to enhance market share in the Southeast and capitalize on banking opportunities.
SmartFinancial, Inc. (Nasdaq: SMBK) has successfully completed its acquisition of Sevier County Bancshares, Inc. and its subsidiary, Sevier County Bank, effective September 1, 2021. This merger, announced previously, enhances SmartFinancial's scale in a strong economic area, bolstering consolidated assets to approximately $4.1 billion as of June 30, 2021. CEO Billy Carroll emphasized the growth potential in the Pigeon Forge, Gatlinburg, and Sevierville regions. The merger is expected to create new opportunities in SmartBank's operations.
SmartFinancial, Inc. (Nasdaq: SMBK) announced a quarterly cash dividend of $0.06 per share on July 22, 2021, payable on August 23, 2021. Shareholders of record as of August 6, 2021 will be eligible. SmartFinancial, headquartered in Knoxville, Tennessee, operates SmartBank, a full-service bank with 35 branches across East and Middle Tennessee, Alabama, and the Florida Panhandle. The company remains focused on exceptional client service and strategic growth.
SmartFinancial reported a net income of $8.8 million in Q2 2021, up from $6.2 million in Q2 2020, and $9.8 million in Q1 2021. Operating earnings reached $9.1 million, a 24.7% increase year-over-year. The company achieved a net organic loan growth of over $87 million, marking a 16.3% annualized increase. Tangible book value per share rose to $18.69. Key developments included a proposed $38.1 million acquisition of Sevier County Bancshares and the completion of the Fountain Equipment Finance acquisition.
SmartFinancial, Inc. (NASDAQ: SMBK) will release its Second Quarter 2021 earnings on July 20, 2021. A conference call to discuss the results is scheduled for July 21, 2021, at 10:00 a.m. ET. Interested parties can join the call by dialing (888) 317-6003 or (412) 317-6061 with the confirmation number 5194560. A replay will be available until July 21, 2022. Conference call materials will be accessible on the company’s website on the same day at 9:00 a.m. ET.
SmartBank, a subsidiary of SmartFinancial, Inc. (Nasdaq: SMBK), has announced a definitive agreement to acquire Fountain Leasing, LLC, based in Knoxville, TN. As of March 31, 2021, Fountain had net lease investments of approximately $56 million. This acquisition will enable SmartBank to enter the construction equipment financing space, targeting small and medium-sized businesses across the Southeast. The transaction is expected to close within a week and will allow SmartBank to leverage its resources to enhance Fountain's offerings and expand its market reach.
SmartFinancial (Nasdaq: SMBK) has declared a quarterly cash dividend of $0.06 per share on April 22, 2021. The dividend will be payable on May 21, 2021, to shareholders recorded as of May 7, 2021. SmartFinancial, based in Knoxville, Tennessee, operates through SmartBank, which has 35 branches across East and Middle Tennessee, Alabama, and the Florida Panhandle. The company emphasizes exceptional client service and strategic branching to drive success.
SmartFinancial, Inc. (NASDAQ: SMBK) reported a net income of $9.8 million, or $0.65 per diluted share, for Q1 2021, up from $9.0 million in Q4 2020. Operating earnings also rose to $9.8 million, with a tangible book value of $18.39, marking a 10.5% increase. The company saw organic loan growth exceeding $60 million and originated 1,231 PPP loans, totaling $119.5 million. Despite a slight decrease in net interest income, noninterest income increased by $715,000.
SmartFinancial, Inc. (Nasdaq: SMBK) has announced an agreement to acquire Sevier County Bancshares, Inc. (SCB) for approximately $38.2 million. This merger will enhance SmartFinancial's market position, making it the largest bank in Sevier County, TN, and the fourth largest community bank in Tennessee, with consolidated assets exceeding $3.7 billion. SCB, with $424 million in total assets and a strong presence in Richmond, VA, will provide additional market opportunities. The transaction is subject to regulatory approvals and is anticipated to close in early Q3 2021.
SmartFinancial, Inc. (NASDAQ:SMBK) announces the release of its First Quarter 2021 earnings results scheduled for April 20, 2021. A conference call will follow on April 21, 2021, at 10:00 a.m. ET, accessible via phone. Conference call materials will be available on the company's website at 9:00 a.m. ET on the day of the call. Based in Knoxville, Tennessee, SmartFinancial serves as the bank holding company for SmartBank, which operates 35 branches across Tennessee, Alabama, and Florida.