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) reported a net income of $6.4 million or $0.42 per diluted share for Q3 2020, up from $6.2 million in Q2 2020. Operating earnings (Non-GAAP) totaled $6.6 million or $0.44 per diluted share, a decrease from Q2's $7.3 million. Deposits surged by 29.5% year-over-year, while nonperforming assets improved to 0.18% of total assets. Despite a 62.1% decline in COVID loan modifications, net interest margin fell to 3.39%. Tangible book value per share rose 5.5% year-over-year to $17.27.
SmartFinancial, Inc. (NASDAQ: SMBK) announces its earnings release for Q3 2020, set for October 20, 2020. A conference call will follow on October 21 at 10:00 a.m. ET, accessible via phone at (888) 317-6003 or (412) 317-6061, using confirmation number 9589795. Conference call materials will be available on their website at 9:00 a.m. ET on the day of the call. SmartFinancial, based in Knoxville, Tennessee, operates SmartBank, a full-service commercial bank with 36 branches across Tennessee, Alabama, and Florida Panhandle.
SmartFinancial has declared a quarterly cash dividend of $0.05 per share, set to be paid on August 24, 2020, for shareholders on record as of August 7, 2020. This announcement reflects the company’s commitment to returning value to shareholders and its stable financial performance. SmartFinancial, based in Knoxville, operates as a bank holding company for SmartBank, which has expanded its reach across East and Middle Tennessee, Alabama, and the Florida Panhandle. The firm prioritizes client service and a disciplined lending approach.
SmartFinancial, Inc. (NASDAQ: SMBK) will release its second-quarter earnings on July 21, 2020. A conference call is scheduled for July 22 at 10:00 a.m. ET, accessible via (888) 317-6003 or (412) 317-6061 with confirmation number 5925756. A replay will be available until July 22, 2021, using confirmation number 10146072. Conference call materials will be published on their website by 9:00 a.m. ET on the call day.
SmartFinancial operates SmartBank, a full-service commercial bank with 35 branches in Tennessee, Alabama, and Florida Panhandle.
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