SmartFinancial posts higher Q1 2026 earnings

SmartFinancial, Inc. reported first quarter 2026 net income of $13.7 million, or $0.81 per diluted share, up from $11.3 million, or $0.67, a year earlier and flat with the prior quarter.

Rhea-AI Filing Summary

SmartFinancial, Inc. reported first quarter 2026 net income of $13.7 million, or $0.81 per diluted share, up from $11.3 million, or $0.67, a year earlier and flat with the prior quarter. Loan balances rose by about $155 million, while core deposits increased $95 million, helping drive growth.

Tax-equivalent net interest margin improved to 3.48% from 3.38% in the prior quarter as deposit costs declined, even though loan yields softened slightly. The allowance for credit losses increased to 0.97% of loans following a model change, and nonperforming assets remained low at 0.25% of total assets.

Total assets reached $5.91 billion, deposits totaled $5.20 billion, and shareholders’ equity was $562.2 million. Return on average assets was 0.96% and return on average shareholders’ equity was 9.90%, indicating steady profitability alongside modest balance sheet growth.

Insights

Banking sector analyst

SmartFinancial delivers steady Q1 2026 growth with stronger margin and controlled credit costs.

SmartFinancial generated net income of $13.7 million and diluted EPS of $0.81 in Q1 2026, up from $11.3 million and $0.67 a year earlier. Loan growth of $154.8 million and deposits up $43.4 million supported higher net interest income of $45.9 million.

Tax-equivalent net interest margin expanded to 3.48% from 3.38% quarter-over-quarter as deposit costs fell, with total deposit cost declining to 2.12%. Credit quality remained solid despite some normalization: nonperforming assets were only 0.25% of total assets, and net charge-offs were minimal at 0.02% of average loans.

The allowance for credit losses increased to $44.0 million, or 0.97% of loans, driven by a new discounted cash flow ACL model and refined assumptions. Capital stayed healthy, with tangible common equity at 8.04% of tangible assets and tangible book value per share at $27.33. Future disclosures in subsequent periods may show how margin trends and credit metrics evolve under the updated model.

8-K Event Classification

3 items: 2.02, 7.01, 9.01

3 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Net income: $13.7 million Diluted EPS: $0.81 per share Net interest income: $45.9 million +5 more

8 metrics

Net income $13.7 million Quarter ended March 31, 2026

Diluted EPS $0.81 per share Quarter ended March 31, 2026; $0.67 in Q1 2025

Net interest income $45.9 million Quarter ended March 31, 2026; $45.1 million prior quarter

Net interest margin (FTE) 3.48% Quarter ended March 31, 2026; 3.38% prior quarter

Loans and leases $4.52 billion Balance at March 31, 2026; up $154.8 million from December 31, 2025

Deposits $5.20 billion Balance at March 31, 2026; up $43.4 million from December 31, 2025

Allowance for credit losses ratio 0.97% of loans and leases As of March 31, 2026; 0.94% at December 31, 2025

Return on average assets 0.96% Quarter ended March 31, 2026

Key Terms

net interest margin, allowance for credit losses, nonperforming assets, tangible book value per common share, +2 more

6 terms

net interest margin financial

"The tax equivalent net interest margin was 3.48% for the first quarter of 2026"

Net interest margin measures how much a bank earns from lending and investing compared with what it pays for funding, expressed as a percentage of its interest-earning assets. Think of it like a grocery store’s markup: it shows the gap between buying cost and selling price per dollar of goods — here, the cost is interest paid and the sale is interest received. Investors watch it because a higher margin usually means a bank is more profitable and better at managing interest rate and credit conditions.

allowance for credit losses financial

"At March 31, 2026, the allowance for credit losses was $44.0 million."

Allowance for credit losses is a reserve set aside by a financial institution to cover potential losses from borrowers who may not repay their loans. It acts like a safety net, helping the institution prepare for loans that might turn sour. For investors, it signals how cautious the institution is about the quality of its loans and potential risks to its financial health.

nonperforming assets financial

"Total nonperforming assets ... as a percentage of total assets was 0.25% as of March 31, 2026"

Nonperforming assets are loans or investments that are not generating expected payments or returns because the borrower has fallen behind on payments or the investment has lost value. They matter to investors because a high level of nonperforming assets can indicate financial trouble for a bank or institution, potentially affecting its stability and profitability.

tangible book value per common share financial

"Tangible book value per common share1 was $27.33 at March 31, 2026"

A per-share measure of the company’s tangible net asset value available to common shareholders after removing intangible items (like goodwill, brand value, and patents) and any preferred shareholder claims. Think of it as the amount each common share would get if the company sold only its physical and financial assets and settled priority claims. Investors use it as a conservative baseline to judge whether a stock is cheaply priced relative to the company’s hard-asset backing.

operating pre-provision net revenue financial

"Operating pre-provision net revenue (“PPNR”) earnings"

Operating pre-provision net revenue is a bank or financial firm's core income from regular activities—interest earned, fees, and trading gains—after operating expenses but before subtracting provisions for credit losses. It gives investors a snapshot of the business’s underlying revenue-generating power, like a store’s sales minus running costs before setting aside money for spoiled inventory, so changes can signal shifts in profitability or operational strength independent of loan-loss swings.

efficiency ratio financial

"Efficiency ratio is the quotient of operating noninterest expense divided by the sum of net interest income"

A measure of how much a company spends to produce each dollar of revenue, usually shown as operating expenses divided by revenue and expressed as a percentage. Think of it as a household’s budget: a lower percentage means more of each dollar earned stays as profit, while a higher number means costs are eating into returns. Investors use it to judge cost control and compare how efficiently companies turn revenue into earnings, especially in banks and financial firms.

Earnings Snapshot

Net income: $13.7 million

Q1 2026

Net income $13.7 million up from $11.3 million in Q1 2025

Diluted EPS $0.81 up from $0.67 in Q1 2025

Net interest income $45.9 million up from $45.1 million in Q4 2025

Net interest margin (FTE) 3.48% up from 3.38% in Q4 2025

Loans and leases $4.52 billion $154.8 million increase vs December 31, 2025

Deposits $5.20 billion $43.4 million increase vs December 31, 2025

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How did SmartFinancial (SMBK) perform financially in Q1 2026?

SmartFinancial reported net income of $13.7 million, or $0.81 per diluted share, for Q1 2026. This compares to $11.3 million, or $0.67 per diluted share, in Q1 2025, reflecting higher net interest income and continued loan and deposit growth.

What happened to SmartFinancial’s net interest margin in Q1 2026?

SmartFinancial’s tax-equivalent net interest margin rose to 3.48% in Q1 2026 from 3.38% in Q4 2025. The improvement came mainly from lower deposit costs, even as loan and asset yields edged slightly lower across the portfolio during the quarter.

How strong were SmartFinancial’s loan and deposit growth in Q1 2026?

Total loans and leases increased by $154.8 million to $4.52 billion at March 31, 2026. Deposits rose $43.4 million to $5.20 billion, driven by money market, time, and interest-bearing demand balances, partly offset by lower noninterest-bearing and brokered deposits.

What is SmartFinancial’s credit quality and reserve position as of March 31, 2026?

The allowance for credit losses on loans and leases was $44.0 million, or 0.97% of total loans and leases, at March 31, 2026. Nonperforming assets were 0.25% of total assets, and net charge-offs were very low at 0.02% of average loans and leases.

How did SmartFinancial’s noninterest income and expenses change in Q1 2026?

Noninterest income was $7.9 million, down $278 thousand from the prior quarter, mainly due to lower capital markets-related income. Noninterest expense rose to $32.9 million, up $444 thousand, reflecting higher salaries, benefits, and other costs, partially offset by reduced FDIC insurance expense.

What were SmartFinancial’s key capital and book value metrics in Q1 2026?

Shareholders’ equity totaled $562.1 million at March 31, 2026. Tangible book value per common share was $27.33, up from $26.85 at December 31, 2025, and tangible common equity represented 8.04% of tangible assets during the same period.

What were SmartFinancial’s profitability ratios in Q1 2026?

For Q1 2026, SmartFinancial generated a 0.96% return on average assets and a 9.90% return on average shareholders’ equity. Return on average tangible common equity was 11.93%, indicating stable profitability relative to the company’s asset and capital base.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 04/20/2026 - 07:05 AM EDT Learn about SEC filing dates

0001038773false00010387732026-04-202026-04-20

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

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FORM 8-K

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CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

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Date of earliest event reported: April 20, 2026

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SMARTFINANCIAL, INC.

(Exact name of registrant as specified in its charter)

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Tennessee	​ ​	001-37661	​ ​ ​	62-1173944
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

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5401 Kingston Pike, Suite 600	​ ​ ​ ​
Knoxville, Tennessee		37919
(Address of Principal Executive Offices)		(Zip Code)

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(865) 437-5700 

(Registrant’s telephone number, including area code)

(Former name or former address, if changed since last report)

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

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☐  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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Securities registered pursuant to Section 12(b) of the Act:

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Title of each class	​	​ ​	Trading Symbol(s)	​	​ ​	Name of Exchange on which Registered
Common Stock, par value $1.00 per share	​		SMBK	​		New York Stock Exchange

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

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Emerging growth company ☐

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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the

Exchange Act. ☐

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Item 2.02   ​ ​ ​ Results of Operations and Financial Condition.

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On April 20, 2026, SmartFinancial, Inc. (“SmartFinancial”) issued a press release (the “Press Release”) reporting earnings results for its first quarter ending March 31, 2026. A copy of the Press Release is attached hereto as Exhibit 99.1.

In accordance with General Instructions B.2 of Form 8K, the information in Item 2.02 of this report (including Exhibit 99.1) shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 7.01   ​ ​ ​ Regulation FD Disclosure.

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SmartFinancial is filing an investor slide presentation that it intends to review in conjunction with its earnings release conference call on April 20, 2026. The slides are attached hereto as Exhibit 99.2.

In accordance with General Instructions B.2 of Form 8K, the information in Item 7.01 of this report (including Exhibit 99.2) shall not be deemed to be “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

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Item 9.01	​	Financial Statements and Exhibits
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Exhibit No.	​ ​ ​	Description
99.1	​	Press release announcing first quarter 2026 financial results dated April 20, 2026
99.2	​	First quarter 2026 investor presentation
104	​	Cover Page Interactive Data File (embedded within the Inline XBRL document)

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SIGNATURES

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Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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SMARTFINANCIAL, INC.

Date: April 20, 2026

/s/ William Y. Carroll, Jr.

William Y. Carroll, Jr.

President & Chief Executive Officer

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Exhibit 99.1

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1Q 2026

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SmartFinancial Announces Results for the First Quarter 2026

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KNOXVILLE, TN – April 20, 2026 - SmartFinancial, Inc. ("SmartFinancial" or the "Company"; NYSE: SMBK), today announced net income of $13.7 million, or $0.81 per diluted common share, for the first quarter of 2026, compared to net income of $11.3 million, or $0.67 per diluted common share, for the first quarter of 2025, and compared to prior quarter net income of $13.7 million, or $0.81 per diluted common share.  

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Highlights for the First Quarter of 2026

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● Operating earnings¹ of $13.7 million, or $0.81 per diluted common share

● Net organic loan and lease growth of $155 million with 14% annualized quarter-over-quarter increase

● Deposit growth, excluding brokered deposits, of $95 million or 7% annualized quarter-over-quarter

● Net interest margin, fully tax equivalent basis (“FTE”) expanded to 3.48%, reflecting lower deposit and funding costs

● Allowance for credit losses (“ACL”) model change resulting in ACL to total loans and leases increase of 3bps to 0.97%

● Nashville expansion with Director of Private Banking and Wealth Management and additional commercial banker hires

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Billy Carroll, President & CEO, stated: "As anticipated, 2026 began with strong momentum due to the robust business pipeline established prior to year end and the diligent work of our associates in securing new business. Quarterly net balance loan growth of $155 million while core deposits increased by $95 million, surpassing initial forecasts. Deposit growth was particularly notable, especially after accounting for a projected $68 million seasonal withdrawal from a significant client relationship. Operating earnings per share were solid at $0.81, supported by an expansion of over 10 basis points in net interest margin quarter-over-quarter and disciplined expense management. Additionally, we maintained our quarter-over-quarter earnings per share despite a higher provision associated with a change in our ACL model, which we expect to normalize next quarter. Overall, this represents an excellent start to the year, made possible by the dedicated efforts of our over 580 associates. Thank you all for your continued commitment and positivity!”

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SmartFinancial's Chairman, Miller Welborn, concluded: “The Board is grateful to all our associates for delivering a strong start to 2026, which is a reflection of the team’s hard work and dedication. We appreciate the energy our teams are bringing, not only to our strategic initiatives, but also to the many operational and efficiency-enhancing projects underway. We truly value these contributions and are excited about the benefits these efforts will deliver for our Company and our stakeholders. Looking ahead, we remain confident in our strategic direction and focused on executing our priorities to build on this momentum through the remainder of 2026.”

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Net Interest Income and Net Interest Margin

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Net interest income was $45.9 million for the first quarter of 2026, compared to $45.1 million for the prior quarter.  Average earning assets totaled $5.39 billion, an increase of $47.1 million from the prior quarter. The balances of average earnings assets increased quarter-over-quarter, primarily from an increase in average loans and leases of $138.7 million and average securities of $5.7 million, offset by a decrease in average federal funds sold and other earning assets of $97.3 million.  Average interest-bearing liabilities increased by $66.9 million from the prior quarter, primarily attributable to an increase in average interest-bearing deposits of $66.8 million.

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The tax equivalent net interest margin was 3.48% for the first quarter of 2026, up from 3.38% for the prior quarter. This increase is primarily related to declines in deposit costs, outpacing a modest decrease in asset yields. The yield on loans and leases, excluding loan fees, FTE was 5.93% for the first quarter of 2026, compared to 6.00% for the prior quarter.

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¹ Non-GAAP measure. See “Non-GAAP Financial Measures” for more information and see the Non-GAAP Reconciliations.

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The cost of total deposits for the first quarter of 2026 was 2.12%, compared to 2.26% in the prior quarter. The cost of interest-bearing liabilities was 2.72% for the first quarter of 2026, compared to 2.90% in the prior quarter. The cost of average interest-bearing deposits was 2.60% for the first quarter of 2026, compared to 2.79% for the prior quarter, a decrease of 19 basis points.

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The following table presents selected interest rates and yields for the periods indicated:

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​	​	​	​	​	​	​	​
​	​	Three Months Ended			​	​	​
​	​	Mar	​	Dec	​	Increase	​
Selected Interest Rates and Yields	​	2026	​	2025	​	(Decrease)	​
Yield on loans and leases, excluding loan fees, FTE	​	5.93	%	6.00	%	(0.07)	%
Yield on loans and leases, FTE	​	6.02	%	6.08	%	(0.06)	%
Yield on earning assets, FTE	​	5.62	%	5.65	%	(0.03)	%
Cost of interest-bearing deposits	​	2.60	%	2.79	%	(0.19)	%
Cost of total deposits	​	2.12	%	2.26	%	(0.14)	%
Cost of interest-bearing liabilities	​	2.72	%	2.90	%	(0.18)	%
Net interest margin, FTE	​	3.48	%	3.38	%	0.10	%

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Allowance for Credit Losses on Loans and Leases and Credit Quality

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At March 31, 2026, the allowance for credit losses was $44.0 million. During the quarter, changes were made to SmartBank's ACL loss model, which included the adoption of a discounted cash flow methodology, refinements to key assumptions and qualitative factors, and improved use of macroeconomic drivers. As a result, the allowance for credit losses to total loans and leases rose to 0.97% as of March 31, 2026, up from 0.94% as of December 31, 2025.

The following table presents detailed information related to the provision for credit losses for the periods indicated (dollars in thousands):

​	​	​	​	​	​	​	​	​	​	​	​
​	​	​	Three Months Ended					​	​	​	​
​	​	​	​	Mar	​	​	Dec	​	​	Increase	​
​	Allowance for Credit Losses on Loans and Leases Rollforward	​	​	2026	​	​	2025	​	​	(Decrease)	​
​	Beginning balance	​	$	40,906	​	$	39,074	​	$	1,832	​
​	Charge-offs	​	​	(229)	​	​	(1,993)	​	​	1,764	​
​	Recoveries	​	​	60	​	​	101	​	​	(41)	​
​	Net charge-offs	​	​	(169)	​	​	(1,892)	​	​	1,723	​
​	Provision for credit losses (1)	​	​	3,213	​	​	3,724	​	​	(511)	​
​	Ending balance	​	$	43,950	​	$	40,906	​	$	3,044	​
​	​	​	​	​	​	​	​	​	​	​	​
​	Allowance for credit losses to total loans and leases	​	​	0.97	%	​	0.94	%	​	0.03	%

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(1) The current quarter-ended and prior quarter-ended excludes an unfunded commitments provision of $926 thousand and $408 thousand, respectively.  At March 31, 2026, and December 31, 2025, the unfunded commitment liability totaled $4.5 million and $3.6 million, respectively.  

Nonperforming loans and leases as a percentage of total loans and leases was 0.27% as of March 31, 2026, and 0.22% as of December 31, 2025.  Total nonperforming assets (which include nonaccrual loans and leases, loans and leases past due 90 days or more and still accruing, other real estate owned and other repossessed assets) as a percentage of total assets was 0.25% as of March 31, 2026, and 0.22% as of December 31, 2025.

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2

The following table presents detailed information related to credit quality for the periods indicated (dollars in thousands):

​	​	​	​	​	​	​	​	​	​	​	​
​	​	​	Three Months Ended					​	​	​	​
​	​	​	​	Mar	​	​	Dec	​	​	Increase	​
​	Credit Quality	​	​	2026	​	​	2025	​	​	(Decrease)	​
​	Nonaccrual loans and leases	​	$	12,257	​	$	9,442	​	$	2,815	​
​	Loans and leases past due 90 days or more and still accruing	​	​	-	​	​	-	​	​	-	​
​	Total nonperforming loans and leases	​	​	12,257	​	​	9,442	​	​	2,815	​
​	Other real estate owned	​	​	-	​	​	-	​	​	-	​
​	Other repossessed assets	​	​	2,798	​	​	3,248	​	​	(450)	​
​	Total nonperforming assets	​	$	15,055	​	$	12,690	​	$	2,365	​
​	​	​	​	​	​	​	​	​	​	​	​
​	Nonperforming loans and leases to total loans and leases	​	​	0.27	%	​	0.22	%	​	0.05	%
​	Nonperforming assets to total assets	​	​	0.25	%	​	0.22	%	​	0.03	%

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Noninterest Income

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Noninterest income decreased $278 thousand to $7.9 million for the first quarter of 2026, compared to $8.2 million for the prior quarter.  The first quarter decrease was primarily attributable to the reduction in capital markets’ income included in other noninterest income.  

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The following table presents detailed information related to noninterest income for the periods indicated (dollars in thousands):

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​	​	​	​	​	​	​	​	​	​
​	​	Three Months Ended					​	​	​
​	​	​	Mar	​	​	Dec	​	​	Increase
Noninterest Income	​	​	2026	​	​	2025	​	​	(Decrease)
Service charges on deposit accounts	​	$	1,853	​	$	1,828	​	$	25
Gain on sale of securities, net	​	​	1	​	​	-	​	​	1
Mortgage banking income	​	​	760	​	​	837	​	​	(77)
Investment services	​	​	1,796	​	​	1,683	​	​	113
Interchange and debit card transaction fees	​	​	1,418	​	​	1,375	​	​	43
Other	​	​	2,113	​	​	2,496	​	​	(383)
Total noninterest income	​	$	7,941	​	$	8,219	​	$	(278)

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Noninterest Expense

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Noninterest expense increased $444 thousand to $32.9 million for the first quarter of 2026, compared to $32.5 million for the prior quarter. The first quarter’s increase was primarily attributable to an increase in salaries and employee benefits and other expenses, offset by a decrease in FDIC insurance expense.

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The following table presents detailed information related to noninterest expense for the periods indicated (dollars in thousands):

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​	​	​	​	​	​	​	​	​	​
​	​	Three Months Ended					​	​	​
​	​	​	Mar	​	​	Dec	​	​	Increase
Noninterest Expense	​	​	2026	​	​	2025	​	​	(Decrease)
Salaries and employee benefits	​	$	20,414	​	$	19,917	​	$	497
Occupancy and equipment	​	​	3,344	​	​	3,388	​	​	(44)
FDIC insurance	​	​	750	​	​	1,025	​	​	(275)
Other real estate and loan related expenses	​	​	792	​	​	858	​	​	(66)
Advertising and marketing	​	​	387	​	​	393	​	​	(6)
Data processing and technology	​	​	2,436	​	​	2,413	​	​	23
Professional services	​	​	1,193	​	​	1,132	​	​	61
Amortization of intangibles	​	​	457	​	​	479	​	​	(22)
Restructuring expenses	​	​	-	​	​	16	​	​	(16)
Other	​	​	3,142	​	​	2,850	​	​	292
Total noninterest expense	​	$	32,915	​	$	32,471	​	$	444

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3

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Income Tax Expense

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Income tax expense was $3.1 million for the first quarter of 2026, an increase of $76 thousand, compared to $3.0 million for the prior quarter.

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Balance Sheet Trends

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Total assets at March 31, 2026, were $5.91 billion compared to $5.86 billion at December 31, 2025.  The $46.9 million increase is primarily attributable to increases in loans and leases of $154.8 million, securities of $11.0 million, premises and equipment of $5.0 million, and bank owned life insurance of $913 thousand, offset by a decrease in cash and cash equivalents of $118.3 million, loans held for sale of $3.6 million and an increase in provision of credit losses of $3.0 million.

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Total liabilities were $5.35 billion at March 31, 2026, compared to $5.31 billion at December 31, 2025, an increase of $37.2 million.  Total deposits increased $43.4 million, which was driven primarily by increases in money market deposits of $182.3 million, other time deposits of $16.1 million, and interest-bearing demand deposits of $8.6 million, offset by a decline in noninterest demand deposits of $111.6 million and brokered deposits of $51.9 million. In addition, other liabilities decreased by $6.0 million.  

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Shareholders' equity at March 31, 2026, totaled $562.1 million, an increase of $9.7 million, from December 31, 2025. The increase in shareholders' equity was primarily driven by net income of $13.7 million for the three months ending March 31, 2026, offset by an increase of $3.0 million in accumulated other comprehensive loss and dividends paid of $1.4 million.  Tangible book value per common share¹ was $27.33 at March 31, 2026, compared to $26.85 at December 31, 2025.  Tangible common equity¹ as a percentage of tangible assets¹ was 8.04% at March 31, 2026, compared with 7.93% at December 31, 2025.

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The following table presents selected balance sheet information for the periods indicated (dollars in thousands):

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​	​	Mar		​	Dec		​	Increase		​
Selected Balance Sheet Information	​	2026		​	2025		​	(Decrease)		​
Total assets	​	$	5,907,685	​	$	5,860,810	​	$	46,875	​
Total liabilities	​	​	5,345,524	​	​	5,308,318	​	​	37,206	​
Total equity	​	​	562,161	​	​	552,492	​	​	9,669	​
Securities	​	​	673,051	​	​	662,003	​	​	11,048	​
Loans and leases	​	​	4,518,391	​	​	4,363,582	​	​	154,809	​
Deposits	​	​	5,196,236	​	​	5,152,789	​	​	43,447	​

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Conference Call Information

​

SmartFinancial issued this earnings release for the first quarter of 2026 on Monday, April 20, 2026, and will host a conference call on Monday, April 20, 2026, at 10:00 a.m. ET.  To access this interactive teleconference, dial (833) 470-1428 or (404) 975-4839 and enter the access code, 156265.  A replay of the conference call will be available through July 19, 2026, by dialing (866) 813-9403 or (929) 458-6194 and enter the access code, 215769.  Conference call materials will be published on the Company’s webpage located at http://www.smartfinancialinc.com/CorporateProfile, at 9:00 a.m. ET prior to the conference call.

¹ Non-GAAP measure. See “Non-GAAP Financial Measures” for more information and see the Non-GAAP Reconciliations.

​

​

4

​

About SmartFinancial, Inc.

​

SmartFinancial, Inc., based in Knoxville, Tennessee, is the bank holding company for SmartBank. SmartBank is a full-service commercial bank founded in 2007, with branches across Tennessee, Alabama, and Florida and loan servicing centers in Tennessee and Georgia.  Recruiting the best people, delivering exceptional client service, strategic branching, and a disciplined approach to lending have contributed to SmartBank’s success. More information about SmartFinancial can be found on its website: www.smartfinancialinc.com.

​

​	​
Source	​
SmartFinancial, Inc.	​
​	​
Investor Contacts	​
​	​
Billy Carroll	Nathan Strall
President & Chief Executive Officer	Vice President and Director of Strategy & Corporate Development
Email: billy.carroll@smartbank.com	Email: nathan.strall@smartbank.com
Phone: (865) 868-0613	Phone: (865) 868-2604
​	​

​

​

​

​

5

Non-GAAP Financial Measures

​

Statements included in this earnings release include measures not recognized under U.S. generally accepted accounting principles (“GAAP”) and therefore are considered Non-GAAP financial measures (“Non-GAAP”) and should be read along with the accompanying tables, which provide a reconciliation of Non-GAAP financial measures to GAAP financial measures. SmartFinancial management uses several Non-GAAP financial measures and ratios derived therefrom in its analysis of the Company's performance, including:

​

​	​
(1) Operating earnings	(10) Operating return on average assets
(2) Operating noninterest income	(11) Operating PPNR return on average assets
(3) Operating noninterest expense	(12) Operating return on average shareholders’ equity
(4) Operating pre-provision net revenue (“PPNR”) earnings	(13) Return on average tangible common equity
(5) Tangible common equity	(14) Operating return on average tangible common equity
(6) Average tangible common equity	(15) Operating noninterest income/average assets
(7) Tangible book value per common share	(16) Operating noninterest expense/average assets
(8) Tangible assets	(17) Tangible common equity to tangible assets
(9) Operating efficiency ratio	​

​

Operating earnings, operating PPNR earnings, operating noninterest income and operating noninterest expense exclude non-operating related income and expense items from net income, noninterest income and noninterest expense, respectively. Tangible common equity and average tangible common equity exclude goodwill and other intangible assets from shareholders' equity and average shareholders' equity, respectively. Tangible book value per common share is tangible common equity divided by common shares outstanding. Tangible assets excludes goodwill and other intangibles from total assets. Operating efficiency ratio is the quotient of operating noninterest expense divided by the sum of net interest income adjusted for taxable equivalent yields plus operating noninterest income.  A detailed reconciliation of these items and the ratios derived therefrom is available in the Non-GAAP reconciliations.

​

Management believes that Non-GAAP financial measures provide additional useful information that allows investors to evaluate the ongoing performance of the Company and provide meaningful comparisons to its peers. Management also believes these Non-GAAP financial measures enhance investors' ability to compare period-to-period financial results and allow investors and Company management to view our operating results excluding the impact of items that are not reflective of the underlying operating performance.

​

Non-GAAP financial measures should not be considered as an alternative to any measure of performance or financial condition as promulgated under GAAP, and investors should consider SmartFinancial's performance and financial condition as reported under GAAP and all other relevant information when assessing the performance or financial condition of the Company. Non-GAAP financial measures have limitations as analytical tools, and investors should not consider them in isolation or as a substitute for analysis of the results or financial condition as reported under GAAP.

​

​

​

6

Forward-Looking Statements

​

This news release may contain statements that are based on management’s current estimates or expectations of future events or future results, and that may be deemed to constitute forward-looking statements as defined under the Private Securities Litigation Reform Act of 1995.  These statements are not historical in nature and can generally be identified by such words as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “may,” “estimate,” and similar expressions. All forward-looking statements are subject to risks, uncertainties, and other factors that may cause the actual results of SmartFinancial to differ materially from future results expressed or implied by such forward-looking statements. Such risks, uncertainties, and other factors include, among others,

​

(1) risks associated with our growth strategy, including a failure to implement our growth plans or an inability to manage our growth effectively;

(2) claims and litigation arising from our business activities and from the companies we acquire, which may relate to contractual issues, environmental laws, fiduciary responsibility, and other matters;

(3) general risks related to our disposition, merger and acquisition activity, including risks associated with our pursuit of future acquisitions or sales;

(4) changes in management’s plans for the future;

(5) prevailing, or changes in, economic or political conditions (including those resulting from the current administration and Congress), particularly in our market areas, including the effects of declines in the real estate market, high unemployment rates, inflationary pressures, elevated interest rates and slowdowns in economic growth, as well as the financial stress on borrowers as a result of the foregoing;

(6) our ability to anticipate interest rate changes and manage interest rate risk (including the impact of higher interest rates on macroeconomic conditions, competition, and the cost of doing business and the impact of interest rate fluctuations on our financial projections, models and guidance);

(7) tariffs or trade wars (including reduced consumer spending, lower economic growth or recession, reduced demand for U.S. exports, disruptions to supply chains, and decreased demand for other banking products and services);

(8) uncertain duration of trade conflicts and the magnitude of the impact that proposed tariffs may have on our customers’ businesses;

(9) increased technology and cybersecurity risks, including generative artificial intelligence risks;

(10) the impact of a failure in, or breach of, our operational or security systems or infrastructure, or those of third parties with whom we do business, including as a result of cyber-attacks or an increase in the incidence or severity of fraud, illegal payments, security breaches or other illegal acts impacting us and our customers;

(11) credit risk associated with our lending activities;

(12) changes in loan demand, real estate values, or competition;

(13) developments in our mortgage banking business, including loan modifications, general demand, and the effects of judicial or regulatory requirements or guidance;

(14) changes in accounting principles, policies, or guidelines;

(15) changes in applicable laws, rules, or regulations;

(16) adverse results from current or future litigation, regulatory examinations or other legal and/or regulatory actions;

(17) potential impacts of any adverse developments in the banking industry, including the impacts on customer confidence, deposit outflows, liquidity and the regulatory response thereto;

(18) significant turbulence or a disruption in the capital or financial markets and the effect of a fall in stock market prices on our investment securities;

(19) the effects of war or other conflicts;

(20) the impact of government actions or inactions, including a prolonged shutdown of the federal government; and

(21) other general competitive, economic, political, and market factors, including those affecting our business, operations, pricing, products, or services.

​

These and other factors that could cause results to differ materially from those described in the forward-looking statements can be found in SmartFinancial’s most recent annual report on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K, in each case filed with or furnished to the Securities and Exchange Commission (the “SEC”) and available on the SEC’s website (www.sec.gov). Undue reliance should not be placed on forward-looking statements.  SmartFinancial disclaims any obligation to update or revise any forward-looking statements contained in this release, which speak only as of the date hereof, whether as a result of new information, future events, or otherwise.

​

​

​

7

SmartFinancial, Inc. and Subsidiary

Condensed Consolidated Financial Information - (unaudited)

(dollars in thousands)

​

​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
​	Ending Balances
​	Mar		​ ​ ​	Dec		​ ​ ​	Sep		​ ​ ​	Jun		​ ​ ​	Mar
​	2026		​	2025		​	2025		​	2025		​	2025
Assets:	​	​		​	​		​	​		​	​		​	​
Cash and cash equivalents	$	346,071	​	$	464,417	​	$	557,127	​	$	365,096	​	$	422,984
Securities available-for-sale, at fair value		552,083	​		539,882	​		511,095	​		502,150	​		499,445
Securities held-to-maturity, at amortized cost	​	120,968	​	​	122,121	​	​	123,364	​	​	124,520	​	​	125,576
Other investments		16,597	​		16,441	​		14,888	​		14,713	​		14,371
Loans held for sale		7,277	​		10,865	​		9,855	​		5,484	​		3,843
Loans and leases		4,518,391	​		4,363,582	​		4,222,369	​		4,124,062	​		3,992,207
Less: Allowance for credit losses		(43,950)	​		(40,906)	​		(39,074)	​		(39,776)	​		(38,175)
Loans and leases, net		4,474,441	​		4,322,676	​		4,183,295	​		4,084,286	​		3,954,032
Premises and equipment, net		93,360	​		88,387	​		89,250	​		90,204	​		90,708
Other real estate owned		—	​		—	​		—	​		144	​		144
Goodwill and other intangibles, net		94,871	​		95,328	​		95,807	​		103,588	​		104,154
Bank owned life insurance		120,438	​		119,525	​		118,610	​		117,697	​		116,805
Other assets		81,579	​		81,168	​		81,692	​		82,981	​		79,155
Total assets	$	5,907,685	​	$	5,860,810	​	$	5,784,983	​	$	5,490,863	​	$	5,411,217
Liabilities:		​	​		​	​		​	​		​	​		​
Deposits:		​	​		​	​		​	​		​	​		​
Noninterest-bearing demand	$	951,366	​	$	1,062,918	​	$	931,477	​	$	906,965	​	$	884,294
Interest-bearing demand		954,292	​		945,716	​		929,454	​		843,820	​		885,063
Money market and savings		2,455,945	​		2,273,612	​		2,218,313	​		2,124,623	​		2,131,828
Time deposits		834,633	​		870,543	​		971,653	​		996,712	​		907,474
Total deposits		5,196,236	​		5,152,789	​		5,050,897	​		4,872,120	​		4,808,659
Borrowings		3,178	​		3,009	​		1,301	​		6,966	​		7,610
Subordinated debt		98,733	​		98,662	​		138,604	​		39,726	​		39,705
Other liabilities		47,377	​		53,858	​		55,699	​		52,924	​		49,302
Total liabilities		5,345,524	​		5,308,318	​		5,246,501	​		4,971,736	​		4,905,276
Shareholders' Equity:		​	​		​	​		​	​		​	​		​
Common stock		17,098	​		17,029	​		17,028	​		17,018	​		17,018
Additional paid-in capital		296,284	​		295,950	​		295,742	​		295,209	​		294,736
Retained earnings		261,032	​		248,719	​		236,380	​		224,061	​		213,721
Accumulated other comprehensive loss		(12,366)	​		(9,319)	​		(10,781)	​		(17,274)	​		(19,647)
Total shareholders' equity attributable to SmartFinancial Inc. and Subsidiary	​	562,048	​	​	552,379	​	​	538,369	​	​	519,014	​	​	505,828
Non-controlling interest - preferred stock of subsidiary	​	113	​	​	113	​	​	113	​	​	113	​	​	113
Total shareholders' equity		562,161	​		552,492	​		538,482	​		519,127	​		505,941
Total liabilities & shareholders' equity	$	5,907,685	​	$	5,860,810	​	$	5,784,983	​	$	5,490,863	​	$	5,411,217

​

​

​

​

8

SmartFinancial, Inc. and Subsidiary

Condensed Consolidated Financial Information - (unaudited)

(dollars in thousands except share and per share data)

​

​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
​	Three Months Ended
​	Mar		​ ​ ​	Dec		​ ​ ​	Sep		​ ​ ​	Jun		​ ​ ​	Mar
​	2026		​	2025		​	2025		​	2025		​	2025
Interest income:	​	​		​	​		​	​		​	​		​	​
Loans and leases, including fees	$	65,638	​	$	65,573	​	$	64,282	​	$	61,049	​	$	57,762
Investment securities:		​	​		​	​		​	​		​	​		​
Taxable		5,492	​		5,662	​		4,876	​		4,848	​		4,775
Tax-exempt		555	​		536	​		441	​		395	​		354
Federal funds sold and other earning assets		2,585	​		3,854	​		4,919	​		3,161	​		3,485
Total interest income		74,270	​		75,625	​		74,518	​		69,453	​		66,376
Interest expense:		​	​		​	​		​	​		​	​		​
Deposits		26,529	​		28,646	​		30,464	​		28,301	​		27,335
Borrowings		1	​		1	​		14	​		70	​		70
Subordinated debt		1,864	​		1,884	​		1,610	​		739	​		733
Total interest expense		28,394	​		30,531	​		32,088	​		29,110	​		28,138
Net interest income		45,876	​		45,094	​		42,430	​		40,343	​		38,238
Provision for credit losses		4,139	​		4,132	​		227	​		2,411	​		979
Net interest income after provision for credit losses		41,737	​		40,962	​		42,203	​		37,932	​		37,259
Noninterest income:		​	​		​	​		​	​		​	​		​
Service charges on deposit accounts		1,853	​		1,828	​		1,831	​		1,766	​		1,736
Gain (loss) on sale of securities, net		1	​		—	​		(3,715)	​		(4)	​		—
Mortgage banking		760	​		837	​		709	​		633	​		493
Investment services		1,796	​		1,683	​		1,690	​		1,440	​		1,769
Insurance commissions		—	​		—	​		1,049	​		1,554	​		1,412
Interchange and debit card transaction fees		1,418	​		1,375	​		1,338	​		1,342	​		1,220
Gain on sale of SBK Insurance ("SBKI")		—	​		—	​		3,955	​		—	​		—
Other		2,113	​		2,496	​		1,780	​		2,167	​		1,967
Total noninterest income		7,941	​		8,219	​		8,637	​		8,898	​		8,597
Noninterest expense:		​	​		​	​		​	​		​	​		​
Salaries and employee benefits		20,414	​		19,917	​		19,544	​		19,602	​		19,234
Occupancy and equipment		3,344	​		3,388	​		3,468	​		3,432	​		3,397
FDIC insurance		750	​		1,025	​		1,025	​		992	​		960
Other real estate and loan related expense		792	​		858	​		969	​		757	​		658
Advertising and marketing		387	​		393	​		454	​		390	​		382
Data processing and technology		2,436	​		2,413	​		2,594	​		2,651	​		2,657
Professional services		1,193	​		1,132	​		1,123	​		1,153	​		1,368
Amortization of intangibles		457	​		479	​		536	​		566	​		569
Restructuring expenses		—	​		16	​		1,310	​		—	​		—
Other		3,142	​		2,850	​		2,846	​		3,026	​		3,071
Total noninterest expense		32,915	​		32,471	​		33,869	​		32,569	​		32,296
Income before income taxes		16,763	​		16,710	​		16,971	​		14,261	​		13,560
Income tax expense		3,083	​		3,007	​		3,285	​		2,556	​		2,306
Net income	$	13,680	​	$	13,703	​	$	13,686	​	$	11,705	​	$	11,254
Earnings per common share:		​	​		​	​		​	​		​	​		​
Basic	$	0.81	​	$	0.82	​	$	0.82	​	$	0.70	​	$	0.67
Diluted	$	0.81	​	$	0.81	​	$	0.81	​	$	0.69	​	$	0.67
Weighted average common shares outstanding:		​	​		​	​		​	​		​	​		​
Basic		16,821,486	​		16,788,065	​		16,781,236	​		16,778,988	​		16,767,535
Diluted		16,935,530	​		16,922,482	​		16,908,920	​		16,878,736	​		16,872,097

​

​

​

​

​

​

9

SmartFinancial, Inc. and Subsidiary

Condensed Consolidated Financial Information - (unaudited)

(dollars in thousands)

YIELD ANALYSIS

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended

​

​

March 31, 2026

​

December 31, 2025

​

March 31, 2025

​

​ ​ ​

Average

​ ​ ​

​

​

​ ​ ​

Yield/

​ ​ ​

Average

​ ​ ​

​

​

​ ​ ​

Yield/

​ ​ ​

Average

​ ​ ​

​

​

​ ​ ​

Yield/

​

​

Balance

​

Interest

​

Cost

​

Balance

​

Interest

​

Cost

​

Balance

​

Interest

​

Cost

Assets:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Loans and leases, including fees1

​

$

4,434,181

​

$

65,855

6.02

%

$

4,295,446

​

$

65,807

6.08

%

$

3,941,295

​

$

58,008

5.97

%

Taxable securities

​

584,608

​

5,492

3.81

%

580,256

​

5,662

3.87

%

555,914

​

4,775

3.48

%

Tax-exempt securities2

​

80,535

​

703

3.54

%

79,149

​

678

3.40

%

63,085

​

448

2.88

%

Federal funds sold and other earning assets

​

286,539

​

2,585

3.66

%

383,882

​

3,854

3.98

%

306,966

​

3,485

4.60

%

Total interest-earning assets

​

5,385,863

​

74,635

5.62

%

5,338,733

​

76,001

5.65

%

4,867,260

​

66,716

5.56

%

Noninterest-earning assets

​

397,680

​

​

​

​

400,618

​

​

​

​

405,860

​

​

​

​

Total assets

​

$

5,783,543

​

​

​

​

​

​

$

5,739,351

​

​

​

​

$

5,273,120

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Liabilities and Shareholders’ Equity:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Interest-bearing demand deposits

​

$

955,450

​

3,931

​

1.67

%

$

902,505

​

3,817

1.68

%

$

846,823

​

3,743

1.79

%

Money market and savings deposits

​

2,337,523

​

15,236

​

2.64

%

2,254,175

​

16,017

2.82

%

2,064,134

​

15,065

2.96

%

Time deposits

​

841,515

​

7,362

​

3.55

%

911,044

​

8,812

3.84

%

880,933

​

8,527

3.93

%

Total interest-bearing deposits

​

4,134,488

​

26,529

​

2.60

%

4,067,724

​

28,646

2.79

%

3,791,890

​

27,335

2.92

%

Borrowings

​

3,549

​

1

​

0.11

%

3,024

​

1

0.13

%

8,220

​

70

3.45

%

Subordinated debt

​

98,692

​

1,864

​

7.66

%

99,062

​

1,884

7.55

%

39,692

​

733

7.49

%

Total interest-bearing liabilities

​

4,236,729

​

28,394

​

2.72

%

4,169,810

​

30,531

2.90

%

3,839,802

​

28,138

2.97

%

Noninterest-bearing deposits

​

931,863

​

​

​

​

​

964,612

​

​

​

​

884,078

​

​

​

​

Other liabilities

​

54,603

​

​

​

​

​

58,440

​

​

​

​

51,260

​

​

​

​

Total liabilities

​

5,223,195

​

​

​

​

​

5,192,862

​

​

​

​

4,775,140

​

​

​

​

Shareholders' equity

​

560,348

​

​

​

​

​

546,489

​

​

​

​

497,980

​

​

​

​

Total liabilities and shareholders' equity

​

$

5,783,543

​

​

​

​

​

​

$

5,739,351

​

​

​

​

$

5,273,120

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net interest income, taxable equivalent

​

​

​

​

$

46,241

​

​

​

​

​

$

45,470

​

​

​

​

$

38,578

​

​

Interest rate spread

​

​

​

​

​

2.90

%

​

​

​

2.74

%

​

​

​

2.59

%

Tax equivalent net interest margin

​

​

​

​

​

3.48

%

​

​

​

3.38

%

​

​

​

3.21

%

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Percentage of average interest-earning assets to average interest-bearing liabilities

​

​

​

​

​

127.12

%

​

​

​

128.03

%

​

​

​

126.76

%

Percentage of average equity to average assets

​

​

​

​

​

9.69

%

​

​

​

9.52

%

​

​

​

9.44

%

​

¹ Yields computed on tax-exempt loans on a tax equivalent basis include $218 thousand, $235 thousand, and $246 thousand of taxable equivalent income for the quarters ended March 31, 2026, December 31, 2025, and March 31, 2025, respectively.

​

² Yields computed on tax-exempt instruments on a tax equivalent basis include $148 thousand, $142 thousand, and $94 thousand of taxable equivalent income for the quarters ended March 31, 2026. December 31, 2025, and March 31 2025, respectively.

​

​

​

​

​

10

​

​

​

SmartFinancial, Inc. and Subsidiary

Condensed Consolidated Financial Information - (unaudited)

(dollars in thousands)

​

​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
​	​	As of and for The Three Months Ended
​	​ ​ ​	Mar		​ ​ ​	Dec		​ ​ ​	Sep		​ ​ ​	Jun		​ ​ ​	Mar
​	​	2026		​	2025		​	2025		​	2025		​	2025
Composition of Loans and Leases:		​	​	​	​	​	​	​	​		​	​		​	​	​
Commercial real estate:		​	​	​	​	​	​	​	​		​	​		​	​	​
Non-owner occupied	​	$	1,263,455	​	$	1,196,758	​	$	1,136,080	​	$	1,114,133	​	$	1,117,392	​
Owner occupied	​		1,033,211	​		1,022,871	​		1,012,088	​		958,989	​		885,396	​
Commercial real estate, total	​		2,296,666	​		2,219,629	​		2,148,168	​		2,073,122	​		2,002,788	​
Consumer real estate	​		851,484	​		834,626	​		811,150	​		803,270	​		784,602	​
Construction & land development	​		478,301	​		419,176	​		390,691	​		391,155	​		357,393	​
Commercial & industrial	​		819,875	​		817,595	​		794,751	​		778,754	​		768,454	​
Leases	​	​	54,296	​	​	55,422	​	​	60,301	​	​	62,495	​	​	64,208	​
Consumer and other	​		17,769	​		17,134	​		17,308	​		15,266	​		14,762	​
Total loans and leases	​	$	4,518,391	​	$	4,363,582	​	$	4,222,369	​	$	4,124,062	​	$	3,992,207	​
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Asset Quality and Additional Loan Data:	​		​	​	​	​	​	​	​	​		​	​		​	​
Nonperforming loans and leases	​	$	12,257	​	$	9,442	​	$	10,099	​	$	7,921	​	$	7,807	​
Other real estate owned	​		—	​		—	​		—	​		144	​		144	​
Other repossessed assets	​	​	2,798	​	​	3,248	​	​	2,444	​	​	2,397	​	​	2,414	​
Total nonperforming assets	​	$	15,055	​	$	12,690	​	$	12,543	​	$	10,462	​	$	10,365	​
Modified loans and leases1 not included in nonperforming loans and leases	​	$	208	​	$	219	​	$	1,783	​	$	1,660	​	$	1,978	​
Net charge-offs to average loans and leases (annualized)	​		0.02	%		0.18	%		0.10	%		0.01	%		0.01	%
Allowance for credit losses to total loans and leases	​		0.97	%		0.94	%		0.93	%		0.96	%		0.96	%
Nonperforming loans and leases to total loans and leases	​		0.27	%		0.22	%		0.24	%		0.19	%		0.20	%
Nonperforming assets to total assets	​		0.25	%		0.22	%		0.22	%		0.19	%		0.19	%
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Capital Ratios:	​		​	​	​	​	​	​	​	​		​	​		​	​
Equity to Assets	​		9.52	%		9.43	%		9.31	%		9.45	%		9.35	%
Tangible common equity to tangible assets (Non-GAAP)2	​		8.04	%		7.93	%		7.78	%		7.71	%		7.57	%
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
SmartFinancial, Inc.3	​		​	​	​	​	​	​	​	​		​	​		​	​
Tier 1 leverage	​		8.41	%		8.30	%		8.21	%		8.25	%		8.16	%
Common equity Tier 1	​		9.77	%		9.83	%		9.85	%		9.67	%		9.79	%
Tier 1 capital	​		9.77	%		9.83	%		9.85	%		9.67	%		9.79	%
Total capital	​		12.68	%		12.71	%		13.31	%		11.04	%		11.18	%
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
SmartBank3	​		​	​	​	​	​	​	​	​		​	​		​	​
Tier 1 leverage	​		9.88	%		9.71	%		9.59	%		8.88	%		8.76	%
Common equity Tier 1	​		11.47	%		11.51	%		11.56	%		10.41	%		10.51	%
Tier 1 capital	​		11.47	%		11.51	%		11.56	%		10.41	%		10.51	%
Total capital	​		12.37	%		12.32	%		12.37	%		11.25	%		11.35	%

​

¹Borrowers that have experienced financial difficulty. Effective as of December 31, 2025, the Call Report instructions were changed for institutions to report loan modifications to borrowers experiencing financial difficulty for a 12-month period after the modification. This change is reflected in the December 31, 2025, information and going forward.

²Total common equity less intangibles divided by total assets less intangibles. See reconciliation of Non-GAAP measures.

³ Current period capital ratios are estimated as of the date of this earnings release.

​

​

​

11

SmartFinancial, Inc. and Subsidiary

Condensed Consolidated Financial Information - (unaudited)

(dollars in thousands except share and per share data)

​

​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
​	As of and for The														​
​	Three Months Ended														​ ​ ​
​	Mar		​ ​ ​	Dec		​ ​ ​	Sep		​ ​ ​	Jun		​ ​ ​	Mar		​ ​ ​
​	2026		​	2025		​	2025		​	2025		​	2025		​
Selected Performance Ratios (Annualized):	​	​		​	​		​	​		​	​		​	​	​
Return on average assets	​	0.96	%	​	0.95	%	​	0.96	%	​	0.88	%	​	0.87	%
Return on average shareholders' equity	​	9.90	%	​	9.95	%	​	10.33	%	​	9.19	%	​	9.17	%
Return on average tangible common equity¹	​	11.93	%	​	12.06	%	​	12.79	%	​	11.53	%	​	11.60	%
Noninterest income / average assets	​	0.56	%	​	0.57	%	​	0.61	%	​	0.67	%	​	0.66	%
Noninterest expense / average assets	​	2.31	%	​	2.24	%	​	2.38	%	​	2.44	%	​	2.48	%
Efficiency ratio	​	61.16	%	​	60.91	%	​	66.32	%	​	66.14	%	​	68.96	%
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Operating Selected Performance Ratios (Annualized):	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Operating return on average assets1	​	0.96	%	​	0.95	%	​	1.02	%	​	0.88	%	​	0.87	%
Operating PPNR return on average assets1	​	1.47	%	​	1.44	%	​	1.29	%	​	1.25	%	​	1.12	%
Operating return on average shareholders' equity1	​	9.90	%	​	9.96	%	​	10.92	%	​	9.19	%	​	9.17	%
Operating return on average tangible common equity1	​	11.93	%	​	12.07	%	​	13.53	%	​	11.53	%	​	11.60	%
Operating efficiency ratio1	​	60.75	%	​	60.45	%	​	63.61	%	​	65.66	%	​	68.46	%
Operating noninterest income / average assets1	​	0.56	%	​	0.57	%	​	0.59	%	​	0.67	%	​	0.66	%
Operating noninterest expense / average assets1	​	2.31	%	​	2.24	%	​	2.29	%	​	2.44	%	​	2.48	%
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Selected Interest Rates and Yields:	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Yield on loans and leases, excluding loan fees, FTE	​	5.93	%	​	6.00	%	​	6.05	%	​	5.99	%	​	5.88	%
Yield on loans and leases, FTE	​	6.02	%	​	6.08	%	​	6.14	%	​	6.07	%	​	5.97	%
Yield on earning assets, FTE	​	5.62	%	​	5.65	%	​	5.68	%	​	5.65	%	​	5.56	%
Cost of interest-bearing deposits	​	2.60	%	​	2.79	%	​	2.98	%	​	2.95	%	​	2.92	%
Cost of total deposits	​	2.12	%	​	2.26	%	​	2.44	%	​	2.39	%	​	2.37	%
Cost of interest-bearing liabilities	​	2.72	%	​	2.90	%	​	3.07	%	​	2.99	%	​	2.97	%
Net interest margin, FTE	​	3.48	%	​	3.38	%	​	3.25	%	​	3.29	%	​	3.21	%
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Per Common Share:	​	​		​	​		​	​		​	​		​	​	​
Net income, basic	$	0.81	​	$	0.82	​	$	0.82	​	$	0.70	​	$	0.67	​
Net income, diluted		0.81	​		0.81	​		0.81	​		0.69	​		0.67	​
Operating earnings, basic¹		0.81	​		0.82	​		0.86	​		0.70	​		0.67	​
Operating earnings, diluted¹		0.81	​		0.81	​		0.86	​		0.69	​		0.67	​
Book value per common share		32.88	​		32.44	​		31.62	​		30.51	​		29.73	​
Tangible book value per common share¹		27.33	​		26.85	​		26.00	​		24.42	​		23.61	​
Common shares outstanding		17,098,473	​		17,029,317	​		17,028,001	​		17,017,547	​		17,017,547	​

​

¹Non-GAAP measure. See reconciliation of Non-GAAP measures.

​

​

​

12

SmartFinancial, Inc. and Subsidiary

Condensed Consolidated Financial Information - (unaudited)

(dollars in thousands)

NON-GAAP RECONCILIATIONS

​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
​	Three Months Ended
​	Mar		​ ​ ​	Dec		​ ​ ​	Sep		​ ​ ​	Jun		​ ​ ​	Mar		​ ​ ​
​	2026		​	2025		​	2025		​	2025		​	2025		​
Operating Earnings:	​	​		​	​		​	​		​	​		​	​	​
Net income (GAAP)	$	13,680	​	$	13,703	​	$	13,686	​	$	11,705	​	$	11,254	​
Noninterest income:		​	​		​	​		​	​		​	​		​	​
Securities (gains) losses, net		(1)	​		—	​		3,715	​		4	​		—	​
Gain on sale of SBKI		—	​		—	​		(3,955)	​		—	​		—	​
Noninterest expenses:		​	​		​	​		​	​		​	​		​	​
Restructuring expenses		—	​		16	​		1,310	​		—	​		—	​
Income taxes:		​	​		​	​		​	​		​	​		​	​
Income tax effect of adjustments		—	​		(4)	​		(276)	​		(1)	​		—	​
Operating earnings (Non-GAAP)	$	13,679	​	$	13,715	​	$	14,480	​	$	11,708	​	$	11,254	​
Operating earnings per common share (Non-GAAP):		​	​		​	​		​	​		​	​		​	​
Basic	$	0.81	​	$	0.82	​	$	0.86	​	$	0.70	​	$	0.67	​
Diluted		0.81	​		0.81	​		0.86	​		0.69	​		0.67	​
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Operating Noninterest Income:		​	​		​	​		​	​		​	​		​	​
Noninterest income (GAAP)	$	7,941	​	$	8,219	​	$	8,637	​	$	8,898	​	$	8,597	​
Securities (gains) losses, net		(1)	​		—	​		3,715	​		4	​		—	​
Gain on sale of SBKI	​	—	​	​	—	​	​	(3,955)	​	​	—	​	​	—	​
Operating noninterest income (Non-GAAP)	$	7,940	​	$	8,219	​	$	8,397	​	$	8,902	​	$	8,597	​
Operating noninterest income (Non-GAAP)/average assets1		0.56	%		0.57	%		0.59	%		0.67	%		0.66	%
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Operating Noninterest Expense:		​	​		​	​		​	​		​	​		​	​
Noninterest expense (GAAP)	$	32,915	​	$	32,471	​	$	33,869	​	$	32,569	​	$	32,296	​
Restructuring expenses		—	​		(16)	​		(1,310)	​		—	​		—	​
Operating noninterest expense (Non-GAAP)	$	32,915	​	$	32,455	​	$	32,559	​	$	32,569	​	$	32,296	​
Operating noninterest expense (Non-GAAP)/average assets2		2.31	%		2.24	%		2.29	%		2.44	%		2.48	%
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Operating Pre-provision Net revenue ("PPNR") Earnings:	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Net interest income (GAAP)	$	45,876	​	$	45,094	​	$	42,430	​	$	40,343	​	$	38,238	​
Operating noninterest income (Non-GAAP)	​	7,940	​	​	8,219	​	​	8,397	​	​	8,902	​	​	8,597	​
Operating noninterest expense (Non-GAAP)	​	(32,915)	​	​	(32,455)	​	​	(32,559)	​	​	(32,569)	​	​	(32,296)	​
Operating PPNR earnings (Non-GAAP)	$	20,901	​	$	20,858	​	$	18,268	​	$	16,676	​	$	14,539	​
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Non-GAAP Return Ratios:		​	​		​	​		​	​		​	​		​	​
Operating return on average assets (Non-GAAP)3		0.96	%		0.95	%		1.02	%		0.88	%		0.87	%
Operating PPNR return on average assets (Non-GAAP)4	​	1.47	%	​	1.44	%	​	1.29	%	​	1.25	%	​	1.12	%
Return on average tangible common equity (Non-GAAP)5		11.93	%		12.06	%		12.79	%		11.53	%		11.60	%
Operating return on average shareholders' equity (Non-GAAP)6		9.90	%		9.96	%		10.92	%		9.19	%		9.17	%
Operating return on average tangible common equity (Non-GAAP)7		11.93	%		12.07	%		13.53	%		11.53	%		11.60	%
​	​	​	​	​	​	​	​	​	​	​	​	​	​	​	​
Operating Efficiency Ratio:		​	​		​	​		​	​		​	​		​	​
Efficiency ratio (GAAP)		61.16	%		60.91	%		66.32	%		66.14	%		68.96	%
Adjustment for taxable equivalent yields		(0.41)	%		(0.43)	%		(0.47)	%		(0.47)	%		(0.50)	%
Adjustment for securities gains (losses)		—	%		—	%		(4.50)	%		(0.01)	%		—	%
Adjustment for sale of SBKI	​	—	%	​	—	%	​	5.57	%	​	—	%	​	—	%
Adjustment for restructuring cost		—	%		(0.02)	%		(3.31)	%		—	%		—	%
Operating efficiency ratio (Non-GAAP)		60.75	%		60.45	%		63.61	%		65.66	%		68.46	%

​

¹Operating noninterest income (Non-GAAP) is annualized and divided by average assets.

²Operating noninterest expense (Non-GAAP) is annualized and divided by average assets.

³Operating return on average assets (Non-GAAP) is the annualized operating earnings (Non-GAAP) divided by average assets.

⁴Operating PPNR return on average assets (Non-GAAP) is the annualized operating PPNR earnings (Non-GAAP) divided by average assets.

⁵Return on average tangible common equity (Non-GAAP) is the annualized net income divided by average tangible common equity (Non-GAAP).

⁶Operating return on average shareholders’ equity (Non-GAAP) is the annualized operating earnings (Non-GAAP) divided by average equity.

⁷Operating return on average tangible common equity (Non-GAAP) is the annualized operating earnings (Non-GAAP) divided by average tangible common equity (Non-GAAP).

​

​

​

​

13

SmartFinancial, Inc. and Subsidiary

Condensed Consolidated Financial Information - (unaudited)

(dollars in thousands)

NON-GAAP RECONCILIATIONS

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended

​

​

​ ​ ​

Mar

​ ​ ​

Dec

​ ​ ​

Sep

​ ​ ​

Jun

​ ​ ​

Mar

​

​

​

2026

​

2025

​

2025

​

2025

​

2025

​

Tangible Common Equity:

​

​

​

​

​

​

​

​

​

​

​

Shareholders' equity (GAAP)

​

$

562,161

​

$

552,492

​

$

538,482

​

$

519,127

​

$

505,941

​

Less goodwill and other intangible assets

​

94,871

​

95,328

​

95,807

​

103,588

​

104,154

​

Tangible common equity (Non-GAAP)

​

$

467,290

​

$

457,164

​

$

442,675

​

$

415,539

​

$

401,787

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Average Tangible Common Equity:

​

​

​

​

​

​

​

​

​

​

​

Average shareholders' equity (GAAP)

​

$

560,348

​

$

546,489

​

$

525,829

​

$

511,067

​

$

497,980

​

Less average goodwill and other intangible assets

​

95,145

​

95,619

​

101,326

​

103,936

​

104,504

​

Average tangible common equity (Non-GAAP)

​

$

465,203

​

$

450,870

​

$

424,503

​

$

407,131

​

$

393,476

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Tangible Book Value per Common Share:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Book value per common share (GAAP)

​

$

32.88

​

$

32.44

​

$

31.62

​

$

30.51

​

$

29.73

​

Adjustment due to goodwill and other intangible assets

​

​

(5.55)

​

​

(5.59)

​

​

(5.63)

​

​

(6.09)

​

​

(6.12)

​

Tangible book value per common share (Non-GAAP)1

​

$

27.33

​

$

26.85

​

$

26.00

​

$

24.42

​

$

23.61

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Tangible Common Equity to Tangible Assets:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Total Assets (GAAP)

​

$

5,907,685

​

$

5,860,810

​

$

5,784,983

​

$

5,490,863

​

$

5,411,217

​

Less goodwill and other intangibles

​

​

94,871

​

​

95,328

​

​

95,807

​

​

103,588

​

​

104,154

​

Tangible Assets (Non-GAAP)

​

$

5,812,814

​

$

5,765,482

​

$

5,689,176

​

$

5,387,275

​

$

5,307,063

​

Tangible common equity to tangible assets (Non-GAAP)

​

​

8.04%

​

​

7.93%

​

​

7.78%

​

​

7.71%

​

​

7.57%

​

​

​

¹Tangible book value per share (Non-GAAP) is computed by dividing total shareholders’ equity, less goodwill and other intangible assets, by common shares outstanding.

​

​

14

Exhibit 99.2

1 INVESTOR CALL 1Q 2026 April 20, 2026, 10:00am ET Webcast: www.smartbank.com (Investor Relations) Audio Only: 1 -833 -470 -1428 Access Code: 156265 Miller Welborn Chairman of the Board Billy Carroll President & CEO Ron Gorczynski CFO

(i) Operating earnings (ii) Operating noninterest income (iii) Operating noninterest expense (iv) Operating pre-provision net revenue (“PPNR”) earnings (v) Tangible common equity (vi) Tangible common equity (excluding Accumulated Other Comprehensive income (“AOCI”)) (vii) Average tangible common equity (viii) Tangible book value per common share (ix) Tangible book value per common share (excluding AOCI) (x) Tangible assets (xi) Operating efficiency ratio (xii) Operating return on average assets (xiii) Operating PPNR return on average assets (xiv) Operating return on average shareholders’ equity (xv) Return on average tangible common equity (xvi) Operating return on average tangible common equity (xvii) Operating noninterest income/average assets (xviii) Operating noninterest expense/average assets (xix) Tangible common equity to tangible assets (xx) Diluted operating earnings per share Forward-Looking Statements This presentation may contain statements that are based on management’s current estimates or expectations of future events or future results, and that may be deemed to constitute forward-looking statements as defined under the Private Securities Litigation Reform Act of 1995. These statements on SmartFinancial Inc.’s (“SmartFinancial”) business and financial results and conditions, are not historical in nature and can generally be identified by such words as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “may,” “estimate,” and similar expressions. All forward-looking statements are subject to risks, uncertainties, and other factors that may cause the actual results of SmartFinancial to differ materially from future results expressed or implied by such forward-looking statements. Such risks, uncertainties, and other factors include, among others, (1) risks associated with our growth strategy, including a failure to implement our growth plans or an inability to manage our growth effectively; (2) claims and litigation arising from our business activities and from the companies we acquire, which may relate to contractual issues, environmental laws, fiduciary responsibility, and other matters; (3) general risks related to our disposition merger and acquisition activity, including risks associated with our pursuit of future acquisitions or sales; (4) changes in management’s plans for the future; (5) prevailing, or changes in, economic or political conditions (including those resulting from the current administration and Congress), particularly in our market areas, including the effects of declines in the real estate market, high unemployment rates, inflationary pressures, elevated interest rates and slowdowns in economic growth, as well as the financial stress on borrowers as a result of the foregoing; (6) our ability to anticipate interest rate changes and manage interest rate risk (including the impact of higher interest rates on macroeconomic conditions, competition, and the cost of doing business and the impact of interest rate fluctuations on our financial projections, models and guidance); (7) tariffs or trade wars (including reduced consumer spending, lower economic growth or recession, reduced demand for U.S. exports, disruptions to supply chains, and decreased demand for other banking products and services); (8) uncertain duration of trade conflicts and the magnitude of the impact that proposed tariffs may have on our customers’ businesses; (9) increased technology and cybersecurity risks, including generative artificial intelligence risks; (10) the impact of a failure in, or breach of, our operational or security systems or infrastructure, or those of third parties with whom we do business, including as a result of cyber-attacks or an increase in the incidence or severity of fraud, illegal payments, security breaches or other illegal acts impacting us and our customers; (11) credit risk associated with our lending activities; (12) changes in loan demand, real estate values, or competition; (13) developments in our mortgage banking business, including loan modifications, general demand, and the effects of judicial or regulatory requirements or guidance; (14) changes in accounting principles, policies, or guidelines; (15) changes in applicable laws, rules, or regulations; (16) adverse results from current or future litigation, regulatory examinations or other legal and/or regulatory actions; (17) potential impacts of any adverse developments in the banking industry, including the impacts on customer confidence, deposit outflows, liquidity and the regulatory response thereto; (18) significant turbulence or a disruption in the capital or financial markets and the effect of a fall in stock market prices on our investment securities; (19) the effects of war or other conflicts; (20) the impact of government actions or inactions, including a prolonged shutdown of the federal government; and (21) other general competitive, economic, political, and market factors, including those affecting our business, operations, pricing, products, or services. These and other factors that could cause results to differ materially from those described in the forward-looking statements can be found in SmartFinancial’s most recent annual report on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K, in each case filed with or furnished to the Securities and Exchange Commission (the “SEC”) and available on the SEC’s website (www.sec.gov). Undue reliance should not be placed on forward-looking statements. SmartFinancial disclaims any obligation to update or revise any forward-looking statements contained in this presentation, which speak only as of the date hereof, whether as a result of new information, future events, or otherwise. DISCLOSURES 2 Non-GAAP Financial Measures Statements included in this presentation include measures not recognized under U.S. generally accepted accounting principles (“GAAP”) and therefore are considered Non-GAAP financial measures (“Non-GAAP”) and should be read along with the accompanying tables, which provide a reconciliation of Non-GAAP financial measures to GAAP financial measures. SmartFinancial management uses several Non-GAAP financial measures and ratios derived therefrom in its analysis of SmartFinancial's performance, including: Unless otherwise indicated, all financial data contained in this presentation is as of 3/31/26 Operating earnings, operating revenue, operating PPNR earnings, operating noninterest income and operating noninterest expense exclude non-operating related income and expense items from net income, noninterest income and noninterest expense, respectively. Operating efficiency ratio is the quotient of operating noninterest expense divided by the sum of net interest income adjusted for taxable equivalent yields plus operating noninterest income. Tangible common equity and average tangible common equity excludes goodwill and other intangible assets from shareholders' equity and average shareholders' equity, respectively. Tangible common equity (excluding AOCI) excludes goodwill and other intangible assets from shareholders’ equity and accumulated other comprehensive income. Tangible book value per common share is tangible common equity divided by common shares outstanding. Tangible book value per common share (excluding AOCI) is tangible common equity (excluding AOCI) divided by common shares outstanding. Tangible assets excludes goodwill and other intangibles from total assets. A detailed reconciliation of these items and the ratios derived therefrom is available in the Non-GAAP reconciliations. Management believes that Non-GAAP financial measures provide additional useful information that allows investors to evaluate the ongoing performance of the company and provide meaningful comparisons to its peers. Management also believes these Non-GAAP financial measures enhance investors' ability to compare period-to-period financial results and allow investors and company management to view our operating results excluding the impact of items that are not reflective of the underlying operating performance. Non-GAAP financial measures should not be considered as an alternative to any measure of performance or financial condition as promulgated under GAAP, and investors should consider SmartFinancial's performance and financial condition as reported under GAAP and all other relevant information when assessing the performance or financial condition of the company. Non-GAAP financial measures have limitations as analytical tools, and investors should not consider them in isolation or as a substitute for analysis of the results or financial condition as reported under GAAP.

$0.67 $0.81 $0.81 $0.67 $0.81 $0.81 1Q25 4Q25 1Q26 GAAP EPS Diluted Operating EPS $29.73 $32.44 $32.88 $23.61 $26.85 $27.33 1Q25 4Q25 1Q26 BV Per Share TBV Per Share 0.87% 0.95% 0.96% 0.87% 0.95% 0.96% 1Q25 4Q25 1Q26 GAAP ROAA Operating ROAA 11.6% 12.1% 11.9% 11.6% 12.1% 11.9% 1Q25 4Q25 1Q26 ROATCE Operating ROATCE 3 Unless otherwise indicated, financial data as of or for the three months ended 3/31/26 1) Non-GAAP financial measure - for a reconciliation of Non-GAAP financial measures to their most directly comparable GAAP measures, see the Appendix 2) QoQ: Quarter-over-Quarter 3) “Loans” for purposes of this presentation includes all SmartFinancial loans and leases QUARTERLY HIGHLIGHTS: FIRST QUARTER 2026 7% QoQ2 Annualized Tang. Book Value Per Share Growth1 $0.81 Diluted Operating EPS1 0.96% Operating Return on Average Assets1 11.9% Operating Return on Average Tang. Common Equity1 61% Operating Efficiency Ratio1 3% QoQ Annualized Deposit Growth 14% QoQ Annualized Organic Loan3 Growth 87% Loan / Deposit Ratio3 0.25% Non-Performing Assets / Assets $5.9 Billion in Total Assets Diluted Earnings Per Share Book Value Per Share Return on Average Assets Return on Average Tangible Common Equity 1 1 1 1

$10,215 $13,680 $( 1, 000) $1, 000 $3, 000 $5, 000 $7, 000 $9, 000 $11, 000 $13, 000 $15, 000 $17, 000 $0.61 $0.81 $0 $0 $0 $0 $0 $1 $1 $1 $1 $1 $40,291 $53,817 $10, 000 $20, 000 $30, 000 $40, 000 $50, 000 $60, 000 $2,994 $4,518 $100 $1, 100 $2, 100 $3, 100 $4, 100 $5, 100 $4,282 $5,196 $2, 000 $2, 500 $3, 000 $3, 500 $4, 000 $4, 500 $5, 000 $5, 500 0.11% 0.25% $- $0 $0 $0 $0 $0 4 GAAP KEY MEASURE TRENDS: $ in Thousands Net Income: Diluted Earnings Per Share: Total Revenue: Loans HFI: Deposits: NPAs / Assets: $ in Thousands $ in Millions $ in Millions Diluted Earnings Per Share: Net Income / Diluted Common Shares Outstanding Total Revenue: Net Interest Income + Total Non-Interest Income Loans HFI: Total Loans Held for Investment NPAs / Assets: Total Nonperforming Assets / Total Assets

$10,275 $13,679 $- $2, 000 $4, 000 $6, 000 $8, 000 $10, 000 $12, 000 $14, 000 $16, 000 $18, 000 $0.61 $0.81 $0 $0 $0 $0 $1 $1 $1 $1 $1 $14,446 $20,901 $5, 000 $7, 000 $9, 000 $11, 000 $13, 000 $15, 000 $17, 000 $19, 000 $21, 000 $23, 000 0.88%0.96% $- $0 $0 $0 $0 $0 $0 13.09% 11.93% $- $0 $0 $0 $0 $0 $0 $0 $0 $0 $18.69 $27.33 $16 $18 $20 $22 $24 $26 $28 5 NON-GAAP KEY MEASURE TRENDS1 : 1) Operating Earnings, Operating Diluted EPS, Operating PPNR Earnings, Operating ROAA, Operating ROATCE, Tangible Book Value Per Share and Tangible Common Equity are all Non-GAAP financial measures. For a reconciliation of Non-GAAP financial measures to their most directly comparable GAAP measures, see the Appendix $ in Thousands Operating Earnings: Diluted Operating EPS: Operating PPNR Earnings: Operating ROAA: Operating ROATCE: Tangible Book Value Per Share: $ in Thousands Operating Diluted Earnings Per Share: Operating Earnings / Diluted Common Shares Outstanding Operating Pre-Provision Net Revenue Earnings: Net Interest Income + Operating Non-Interest Income – Operating Non-Interest Expense Operating Non-Interest Income: Non-Interest Income Adjusted for Non-Operating, Non-Recurring Items Operating Non-Interest Expense: Non-Interest Expense Adjusted for Non-Operating, Non-Recurring Items Operating Return on Average Assets: Operating Earnings / Average Assets Tangible Book Value Per Share: Tangible Common Equity / Total Common Shares Outstanding Tangible Common Equity: Total Common Equity Less Goodwill, Core Deposit and Other Intangibles Operating Earnings: Net Income Adjusted for Non-Operating, Non-Recurring Items Operating Return on Average Tangible Common Equity: Operating Earnings / Average Tangible Common Equity Tangible Common Equity: Total Common Equity Less Goodwill, Core Deposit and Other Intangibles $ in Thousands

6 SMARTFINANCIAL: EXPANDING SOUTHEAST FRANCHISE $5.9 Billion in Total Assets $4.5 Billion in Total Loans We are building a culture where Associates thrive and are empowered to be leaders. The core values that we have established as a company help us operate in unison and have become a critical part of our culture. Our Associates are key to SmartBank’s success. $5.2 Billion in Total Deposits 42 Total Branches Knoxville Nashville Huntsville Tuscaloosa Mobile Pensacola Birmingham Auburn Tallahassee Dothan Montgomery Branch Offices Current Loan Production Offices Chattanooga 1) 2025 Great Place to Work survey Panama City 1 92% Destin Columbus

$1.0 $1.1 $1.7 $2.3 $2.4 $3.3 $4.6 $4.6 $4.8 $5.3 $5.9 $5.9 $- $1 $2 $3 $4 $5 $6 $7 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 7 SMARTBANK JOURNEY: LOOKING AHEAD Validation: Scaling: Leveraging: • Focused on validating platform and substantiating market need • Completed Cornerstone merger-of-equals • Completed functional initial public offering • Began expanding commercial banking product offering • Quickly recognized the need for scale to spread operating cost over larger asset base • Focused on building scale through asset growth with emphasis on fee revenue drivers • Completed four bank acquisitions • Acquired Fountain Equipment Finance • Started dealer floor plan lending unit • Expanded into seven new de novo markets • Broadened Treasury Management and commercial banking product package • Implemented several multi-year IT infrastructure projects • Consolidated inconsistent legacy products, services and operational procedures • Focus on leveraging existing investments to efficiently deploy capital and enhance EPS and ROATCE • Strategic hiring supported by existing infrastructure • Further investment in commercial banking business • Heightened focus on commercial sales process • Targeted business relationship generation and client profitability profiles • Operational and product enhancement and delivery in key areas (Treasury Management, digital capabilities, etc.) • M&A focus shifted to strategic and/or “needle moving” opportunities $ in Billions, unless otherwise indicated Strategic Focus: Leverage Existing Infrastructure Investments to Drive Profitability and Optimize Efficiency

MARKET AREA: BUILDING DENSITY IN ATTRACTIVE SOUTHEAST MARKETS 8 ► Production Team: 47 ► Loans: 58% ► Deposits: 59% ► ’21-’26 Growth: 10% Tennessee Source: S&P Market Intelligence; U.S. Census; https://www.cnbc.com/americas-top-states-for-business/ 1) Production team includes relationship managers, market leaders, regional and divisional presidents responsible for meeting business production goals 2) Market loan and deposit percentages shown as a percentage of the total loans and deposits of SmartBank as of 3/31/26, respectively 3) 12/31/21 – 3/31/26 Compound Annualized Growth Rate based on market loan growth over the time period Profile by Market Area: Abundant Organic Opportunity US Population Migration: Strong Migration into Great Markets 1,2,3 ► Production Team: 31 ► Loans: 26% ► Deposits: 32% ► ’21-’26 Growth: 25% Alabama ► Production Team: 14 ► Loans: 16% ► Deposits: 9% ► ’21-’26 Growth: 12% Coastal Projected Population CAGR through 2030 AMERICA’S TOP STATES FOR BUSINESS 2025 N. CAROLINA: #1 FLORIDA: #3 GEORGIA: #7 TENNESSEE: #8 S. CAROLINA: #18 ALABAMA: #19 Knoxville Nashville Huntsville Pensacola Birmingham Tallahassee Montgomery Chattanooga Mobile Auburn Dothan Tuscaloosa Panama City >0.75% 0.75% to 0.50% 0.50% to 0.00% <0.00% Southeast Population Growth Expected to Continue Columbus Destin

$2,693 $3,254 $3,444 $3,906 $4,364 $4,518 5.43% 5.86% 5.98% 5.93% 5. 00% 5. 20% 5. 40% 5. 60% 5. 80% 6. 00% 6. 20% 6. 40% $- $500 $1, 000 $1, 500 $2, 000 $2, 500 $3, 000 $3, 500 $4, 000 $4, 500 2021Y 2022Y 2023Y 2024Y 2025Y 1Q26 22% 23% 24% 23% 23% 28% 27% 27% 27% 28% 19% 19% 19% 19% 18% 9% 9% 9% 10% 11% 20% 19% 19% 19% 19% $3,992 $4,124 $4,222 $4,364 $4,518 1Q25 2Q25 3Q25 4Q25 1Q26 CRE, OO CRE, NOO C&I C&D Consumer RE Leases & Other 9 LOAN PORTFOLIO: SOLID MARKETS PROVIDING OPPORTUNITY Total Loans CAGR of 13% Since 2021 $ in Millions, unless otherwise indicated Average Loan Yield (excluding accretion & fees) Loan Composition History of Consistent Organic Growth

1-4 Family (NOO) 24% Resi/Comm Land Dev. 12% Resi/Comm Land 16% CRE (OO) 17% CRE (NOO) 16% Multifamily 18% Hotel & Hospitality 32% Retail Space 11% Office Space 16% Misc. 14% 10 LOAN CONCENTRATION: WELL BALANCED EXPOSURE Non-Owner Occupied CRE Exposure By Segment Highly Diversified with Seasoned Client Base Construction & Development Exposure By Type1 Concentration Risk Closely Monitored 1) 1-4 Family (OO) includes owner-occupied primary and secondary residence construction loans; 1-4 Family (NOO) includes speculative and investment property residential construction loans; Resi/Comm Land Dev. includes primary, secondary, investment and commercial land development loans; Resi/Comm Land includes residential and commercial improved and unimproved land loans; Multifamily includes 5 or more residential property loans; CRE (OO) includes construction loans for owner-occupied commercial real estate including hotel & hospitality, retail, office, industrial & warehouse, self-storage and other commercial real estate; CRE (NOO) includes construction loans for non-owner occupied commercial real estate including hotel & hospitality, retail, office, industrial & warehouse, self-storage and other commercial real estate 2) Amortized cost balance shown $1.3 Billion2 - 28% of Total Loans $478 Million2 - 11% of Total Loans

$10,365 $10,462 $12,543 $12,690 $15,055 0.19% 0.19% 0.22% 0.22% 0.25% - 0.10% 0.10% 0.30% 0.50% 0.70% 0.90% 1.10% 1.30% 1.50% $- $2, 000 $4, 000 $6, 000 $8, 000 $10, 000 $12, 000 $14, 000 $16, 000 $18, 000 $20, 000 1Q25 2Q25 3Q25 4Q25 1Q26 Nonperforming Loans and Leases OREO & Other Repos Nonperforming Assets / Total Assets 304% 301% 271% 277% 290% 73% 78% 69% 71% 79% 0% 50% 100% 150% 200% 250% 150% 170% 190% 210% 230% 250% 270% 290% 310% 330% 350% 1Q25 2Q25 3Q25 4Q25 1Q26 CRE Loans / Capital C&D Loans / Capital $15,474 $12,882 $15,728 $15,797 $15,975 0.39% 0.31% 0.37% 0.36% 0.35% - 0.10% 0.10% 0.30% 0.50% 0.70% 0.90% 1.10% 1.30% 1.50% 1.70% $2, 000 $4, 000 $6, 000 $8, 000 $10, 000 $12, 000 $14, 000 $16, 000 $18, 000 $20, 000 $22, 000 $24, 000 1Q25 2Q25 3Q25 4Q25 1Q26 Total Delinquent & Nonaccrual Loans & Leases Total Delinquent & Nonaccrual Loans & Leases / Total Loans & Leases 0.24% 0.24% 0.25% 0.24% 0.25% 0.01% 0.01% 0.10% 0.18% 0.02% - 0.10% 0.00% 0.10% 0.20% 0.30% 0.40% 0.50% 1Q25 2Q25 3Q25 4Q25 1Q26 Classified Loans and Leases / Total Loans & Leases Net Chargeoffs $38,175 $39,776 $39,074 $40,906 $43,950 0.96% 0.96% 0.93% 0.94% 0.97% 0.70% 0.80% 0.90% 1.00% 1.10% 1.20% 1.30% 1.40% 1.50% $- $2, 000 $4, 000 $6, 000 $8, 000 $10, 000 $12, 000 $14, 000 $16, 000 $18, 000 $20, 000 $22, 000 $24, 000 $26, 000 $28, 000 $30, 000 $32, 000 $34, 000 $36, 000 $38, 000 $40, 000 $42, 000 $44, 000 $46, 000 $48, 000 $50, 000 $52, 000 $54, 000 $56, 000 $58, 000 $60, 000 1Q25 2Q25 3Q25 4Q25 1Q26 Allowance for Credit Losses (ACL) ACL / Loans HFI 11 Credit Quality Delinquent and Nonaccruals / Total Loans Nonperforming Assets Commercial Real Estate Concentration ASSET QUALITY: STRONG UNDERWRITING PAYS DIVIDENDS $ in Thousands, unless otherwise indicated Allowance Reconciliation

18% 19% 18% 21% 18% 18% 17% 18% 18% 18% 44% 44% 44% 44% 47% 19% 20% 19% 17% 16% $4,809 $4,872 $5,051 $5,153 $5,196 1Q25 2Q25 3Q25 4Q25 1Q26 Noninterest Demand Interest-Bearing Demand Money Market and Savings Time Deposits $4,022 $4,077 $4,268 $4,686 $5,153 $5,196 2.00% 2.51% 2.36% 2.12% 1. 40% 1. 90% 2. 40% 2. 90% 3. 40% $- $1, 000 $2, 000 $3, 000 $4, 000 $5, 000 2021Y 2022Y 2023Y 2024Y 2025Y 1Q26 12 DEPOSIT PORTFOLIO: DEFENDING DEPOSIT MARKET SHARE Total Deposits Loans to Deposits Ratio of 87% $ in Millions, unless otherwise indicated Average Total Deposit Cost Deposit Composition Focused on Core Relationship Growth

$78 $207 $3 $92 $40 $129 $29 $88 $22 $- $50 $100 $150 $200 $250 $300 $350 UST/Agency MBS Fixed ARM CMO Fixed CMO Float Agen CMBS Small Bus Municipal Corporate 3.42% 3.41% 3.44% 3.81% 3.78% 2.50% 3.00% 3.50% 4.00% 4.50% 1Q25 2Q25 3Q25 4Q25 1Q26 Sec. Yield (AFS/HTM) 13 SECURITIES DETAIL: STRONG PORTFOLIO YIELD AND LIQUIDITY $ in Millions, unless otherwise indicated Portfolio Summary Weighted Average Portfolio Yield Portfolio Mix by Book Value Risk Averse Portfolio Designed for Liquidity $688 Million Book Value 3.69% Book Yield ($30) Million Unrealized Loss • ($16) Million in Available-for-Sale Securities (AFS) • ($14) Million in Held-to-Maturity (HTM) 5.8 Year Average Life 4.1% Effective Duration 84% / 16% (AFS / HTM) 1 1) Based on the weighted average of the AFS & HTM securities portfolio. Yields related to investment securities exempt from income taxes are stated on a taxable-equivalent basis assuming a federal income tax rate of 21.0%

14 REPRICING SCHEDULE: YIELD ENHANCEMENT UNDERWAY $255 Million in Fixed Rate Loans Yielding 4.90% Maturing by 2026 Year End $81 Million in Adjustable-Rate Loans Yielding 5.39% Maturing or Repricing by 2026 Year End FYE 2028 & ($ in millions) 2Q26 3Q26 4Q26 2027 Beyond Loan Repricing Schedule: Fixed Rate Loans $ 78 $ 91 $ 85 $ 341 $ 1,359 Weighted Average Yield 5.12% 5.01% 4.59% 5.09% 5.72% Adjustable Rate Loans $ 16 $ 33 $ 32 $ 102 $ 488 Weighted Average Yield 5.83% 5.52% 5.03% 4.73% 6.35% Investment Cashflow Schedule: Principal Cashflow $ 19 $ 15 $ 16 $ 61 $ 587 Yield Roll-Off 4.01% 3.73% 3.42% 3.69% 3.51% Quarterly

104% 100% Peer Average SMBK 89% 87% Peer Average SMBK 15 LIQUIDITY OVERVIEW: PRUDENTLY MANAGING LIQUIDITY 1) Peer average based on most recently reported period results for each peer; peers include major exchange traded banks in the Southeast with assets between $2.5 billion and $10.0 billion 2) Federal Reserve Board discount window borrowing capacity shown as of 3/31/26 3) Uninsured deposits are defined as non-collateralized, non-reciprocal deposits above the FDIC deposit insurance limit Source: S&P Global Loan + Securities / Deposit Ratio (Most Recent Quarter Period End) Loan / Deposit Ratio (Most Recent Quarter Period End) Other Liquidity Sources Access to a Variety of Funding Robust Liquidity on Hand $1.7 Billion in Untapped Liquidity Sources $652 Million in On-Balance Sheet Liquidity 1.2x Liquidity to Uninsured Deposit Ratio3 1 1 $ in Millions, unless otherwise indicated 2 Total Amount Net Available Used Availability Current On-Balance Sheet: Cash & Cash Equiv. $346 $0 $346 Unpledged Securities 329 23 306 Available Sources of Liquidity: Fed Funds 96 0 96 FHLB 908 378 530 FRB 402 0 402 HC LoC 35 0 35 Total Liquidity $2,116 $401 $1,715

1Q25 2Q25 3Q25 4Q25 1Q26 Cash Yield 4.60% 4.60% 4.56% 3.98% 3.66% Sec. Yield (AFS & HTM)1 3.42% 3.41% 3.44% 3.81% 3.78% Loans (less Accr. & Fees) 5.88% 5.99% 6.05% 6.00% 5.93% Loan Accr. & Fees 0.08% 0.08% 0.09% 0.08% 0.09% Loan Yield (incl. Accr. & Fees) 5.97% 6.07% 6.14% 6.08% 6.02% IE Asset Yield 5.56% 5.65% 5.68% 5.65% 5.62% Net Interest Margin (FTE) 3.21% 3.29% 3.25% 3.38% 3.48% $38,238 $40,343 $42,430 $45,094 $45,876 $8,597 $8,902 $8,397 $8,219 $7,940 $46,835 $49,245 $50,827 $53,313 $53,816 3.21% 3.29% 3.25% 3.38% 3.48% $18, 000 $23, 000 $28, 000 $33, 000 $38, 000 $43, 000 $48, 000 $53, 000 3.00% 3.10% 3.20% 3.30% 3.40% 3.50% 3.60% 3.70% 3.80% 1Q25 2Q25 3Q25 4Q25 1Q26 Net Interest Income Operating Noninterest Income Net Interest Margin (FTE) $423 $365 $557 $464 $346 $625 $627 $634 $662 $673 11.6% 11.4% 11.0% 11.3% 11.4% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% 40.0% $- $100 $200 $300 $400 $500 $600 $700 $800 $900 1Q25 2Q25 3Q25 4Q25 1Q26 Cash and Cash Equiv. Securities (AFS/HTM) Securities (AFS/HTM) / Total Assets 16 LIQUIDITY MANAGEMENT: MARGIN INFLECTION CONTINUES Cash and Securities Margin / Operating Revenue2 1) Based on the weighted average of the AFS/HTM securities portfolio. Yields related to investment securities exempt from income taxes are stated on a taxable-equivalent basis assuming a federal income tax rate of 21.0% 2) Non-GAAP financial measure - for a reconciliation of Non-GAAP financial measures to their most directly comparable GAAP measures, see the Appendix 2 $ in Millions, unless otherwise indicated $ in Thousands, unless otherwise indicated

$(2,429), -1.3% $(1,619), -0.8% $1,391 , 0.7% Interest Income % Change Shock -200bps Shock -100bps Shock +100bps $(1,076), -0.6% $(690), -0.4% $717 , 0.4% Interest Income % Change Ramp -200bps Ramp -100bps Ramp +100bps 43% 14% 43% Fixed Rate LT Variable ST Variable 17 INTEREST RATE SENSITIVITY Fixed vs. Variable Rate Loans Static Shock / Rate Ramp Analysis1 1) Based on 12-month static rate shock and ramp analysis as of 3/31/26. These estimates of changes in SmartFinancial’s net interest income require us to make certain assumptions including loan and mortgage-related investment prepayment speeds, reinvestment rate, deposit maturities and decay rates. These assumptions are inherently uncertain and, as a result, we cannot precisely predict the impact of changes in interest rates on net interest income. Although our analysis provides an indication of our interest rate risk exposure at a particular point in time, such estimates are not intended to, and do not, provide a precise forecast of the effect of changes in market interest rates and will differ from actual results $2.0 Billion Fixed Rate Loans $2.6 Billion Variable Rate Loans • $1.9 Billion Short-Term Variable Rate (Resetting within 1 - 3 Months) • $655 Million Long-Term Variable Rate (Resets > 3 Months) $ in Millions, unless otherwise indicated $ in Thousands, unless otherwise indicated

$8,597 $8,902 $8,397 $8,219 $7,940 1Q25 2Q25 3Q25 4Q25 1Q26 Other Noninterest Income Mortgage Banking Income Investment Services Income Interchange Fees Service Charges on Deposit Accounts Insurance Commissions 18 REVENUE DIVERSIFICATION: LINE OF BUSINESS & FEE INCOME EXPANSION Operating Noninterest Income1 Focused on Recurring Fee Income 1) Non-GAAP financial measure - for a reconciliation of Non-GAAP financial measures to their most directly comparable GAAP measures, see the Appendix Differentiated Revenue Streams Building a Family of Diversified Revenue Generators $ in Thousands, unless otherwise indicated $7,185 $7,348 $7,348 Operating Noninterest Income Excluding Insurance Commissions Wealth & Private Banking ~$1.5 Billion in Assets Under Management Treasury Management >$700 Million in Analyzed Deposits Floor Plan Lending >$270 Million in Commitments Mortgage Banking $38 Million in 2026 Q1 Secondary Production Equipment Finance $133 Million in Outstanding Loans and Leases

68% 66% 64% 60% 61% 1Q25 2Q25 3Q25 4Q25 1Q26 Operating Efficiency Ratio $32,296 $32,569 $32,559 $32,455 $32,915 1Q25 2Q25 3Q25 4Q25 1Q26 Salaries & Benefits Occupancy & Equipment Data Processing & Technology Professional Services Amortization of Intangibles Other Noninterest Expense 19 1) Non-GAAP financial measure - for a reconciliation of Non-GAAP financial measures to their most directly comparable GAAP measures, see the Appendix OPERATING EXPENSE: FOCUS ON EXPENSE CONTAINMENT Operating Efficiency Ratio1 Operating Noninterest Expense1 1 $ in Thousands, unless otherwise indicated

7.6% 7.7% 7.8% 7.9% 8.0% 1Q25 2Q25 3Q25 4Q25 1Q26 9.8% 9.7% 9.9% 9.8% 9.8% 1Q25 2Q25 3Q25 4Q25 1Q26 8.2% 8.3% 8.2% 8.3% 8.4% 1Q25 2Q25 3Q25 4Q25 1Q26 11.2% 11.1% 13.3% 12.7% 12.7% 1Q25 2Q25 3Q25 4Q25 1Q26 $19.26 $19.09 $20.76 $22.85 $26.85 $27.33 $19.17 $21.18 $22.29 $24.25 $27.39 $28.05 $15. 00 $17. 00 $19. 00 $21. 00 $23. 00 $25. 00 $27. 00 $29. 00 $31. 00 2021Y 2022Y 2023Y 2024Y 2025Y 1Q26 TBV Per Share Adj. TBV Per Share (Excl. AOCI) CAPITAL: WELL CAPITALIZED – BUILDING BOOK VALUE 1) Non-GAAP financial measure - for a reconciliation of Non-GAAP financial measures to their most directly comparable GAAP measures, see the Appendix 20 Note: Capital ratio data as of the most recent period ended 3/31/26 TCE / TA1 CET1 Ratio Total Capital Ratio Leverage Ratio Basel III Regulatory Capital Minimum To Be Considered “Well Capitalized” Building Shareholder Value Tangible Book Value Per Share (TBVPS)1 $8.88 TBVPS1 Created 2021 – 2026 (Excluding Accumulated Other Comprehensive Income) $0.08 2026 Per Share Quarterly Dividend 5% Well Capitalized 10% Well Capitalized 6.5% Well Capitalized 1 1

WHY SMARTBANK: INVESTMENT HIGHLIGHTS 21 Franchise Scarcity Value – Building Southeast Density Engaged Management Team Stable Markets Experiencing Population Expansion Valuable Deposit Base Growing Business Lines with Revenue Diversification Solid Credit Quality and Underwriting History of Defending Book Value and Delivering Shareholder Value $

APPENDIX 22

4Q25 1Q25 ($ in thousands, except per share data) 1Q26 4Q25 1Q25 % Chg. % Chg. Net Interest Income $ 45,876 $ 45,094 $ 38,238 2% 20% Provision for Credit Losses 4,139 4,132 979 Noninterest Income 7,941 8,219 8,597 (3%) (8%) Noninterest Expense 32,915 32,471 32,296 1% 2% Income Tax Expense 3,083 3,007 2,306 Net Income (GAAP) $ 13,680 $ 13,703 $ 11,254 (0%) 22% Non-GAAP Reconciliations Noninterest Income (1) - - Noninterest Expense - 16 - Income Tax Effect Of Adjustments 0 (4) - Operating Earnings (Non-GAAP) $ 13,679 $ 13,715 $ 11,254 (0%) 22% Operating PPNR Earnings (Non-GAAP) $ 20,901 $ 20,858 $ 14,539 0% 44% 4Q25 1Q25 Non-GAAP Performance Metrics 1Q26 4Q25 1Q25 % Chg. % Chg. Diluted Operating Earnings Per Share $ 0.81 $ 0.81 $ 0.67 (0%) 21% Tangible Book Value Per Common Share $ 27.33 $ 26.85 $ 23.61 2% 16% Operating Return on Average Assets 0.96% 0.95% 0.87% Operating PPNR Return on Average Assets 1.47% 1.44% 1.12% Operating Return on Average Tang. Common Equity 11.9% 12.1% 11.6% Operating Efficiency Ratio 60.7% 60.4% 68.5% 1Q26 vs. 1Q26 vs. 23 Note: For a reconciliation of Non-GAAP financial measures to their most directly comparable GAAP measures, see the Appendix; percentage change may differ due to rounding INCOME STATEMENT: DETAILED FIRST QUARTER RESULTS

NON-GAAP RECONCILIATION 24 1. Operating return on average assets (Non-GAAP) is the annualized operating earnings (Non-GAAP) divided by average assets. 2. Operating PPNR return on average assets (Non-GAAP) is the annualized operating PPNR earnings (Non-GAAP) divided by average assets. 3. Return on average tangible common equity (Non-GAAP) is the annualized net income divided by average tangible common equity (Non-GAAP). 4. Operating return on average shareholders’ equity (Non-GAAP) is the annualized operating earnings (Non-GAAP) divided by average shareholder equity. 5. Operating return on average tangible common equity (Non-GAAP) is the annualized operating earnings (Non-GAAP) divided by average tangible common equity (Non-GAAP). Note: Totals may not add due to rounding $ in Thousands, unless otherwise indicated 1Q26 4Q25 3Q25 2Q25 1Q25 4Q24 3Q24 2Q24 Operating Earnings Net Income (GAAP) $ 13,680 $ 13,703 $ 13,686 $ 11,705 $ 11,254 $ 9,640 $ 9,140 $ 8,003 Noninterest Income: Securities (Gains) Losses (1) - 3,715 4 - (64) - - Gain on Sale of Branch Building - - - - - - - (283) Gain on Sale of SBKI - - (3,955) - - - - - Noninterest Expenses: Donation of a Former Branch Location - - - - - - - - Accruals For Pending Litigation - - - - - - - - Merger Related And Restructuring Expenses - 16 1,310 - - - - - Income Taxes: Income Tax Effect Of Adjustments 0 (4) (276) (1) - 17 - 73 Operating Earnings (Non-GAAP) $ 13,679 $ 13,715 $ 14,480 $ 11,708 $ 11,254 $ 9,593 $ 9,140 $ 7,793 Operating Earnings Per Common Share (Non-GAAP): Basic $ 0.81 $ 0.82 $ 0.86 $ 0.70 $ 0.67 $ 0.57 $ 0.55 $ 0.47 Diluted 0.81 0.81 0.86 0.69 0.67 0.57 0.54 0.46 Operating Noninterest Income Noninterest Income (GAAP) $ 7,941 $ 8,219 $ 8,637 $ 8,898 $ 8,597 $ 9,030 $ 9,139 $ 7,604 Securities (Gains) Losses (1) - 3,715 4 - (64) - - Gain on Sale of Branch Building - - - - - - - (283) Gain on Sale of SBKI - - (3,955) - - - - - Operating Noninterest Income (Non-GAAP) $ 7,940 $ 8,219 $ 8,397 $ 8,902 $ 8,597 $ 8,966 $ 9,139 $ 7,321 Operating Noninterest Expense Noninterest Expense (GAAP) $ 32,915 $ 32,471 $ 33,869 $ 32,569 $ 32,296 $ 32,291 $ 30,846 $ 29,201 Donation of a Former Branch Location - - - - - - - - Accruals For Pending Litigation - - - - - - - - Merger Related And Restructuring Expenses - (16) (1,310) - - - - - Operating Noninterest Expense (Non-GAAP) $ 32,915 $ 32,455 $ 32,559 $ 32,569 $ 32,296 $ 32,291 $ 30,846 $ 29,201 Operating Revenue Net Interest Income (GAAP) $ 45,876 $ 45,094 $ 42,430 $ 40,343 $ 38,238 $ 37,783 $ 35,032 $ 32,814 Operating Noninterest Income (Non-GAAP) 7,940 8,219 8,397 8,902 8,597 8,966 9,139 7,321 Operating Revenue (Non-GAAP) 53,816 53,313 50,827 49,245 46,835 46,749 44,171 40,135 Operating Pre-Provision Net Revenue ("PPNR") Earnings Operating Revenue (Non-GAAP) $ 53,816 $ 53,313 $ 50,827 $ 49,245 $ 46,835 $ 46,749 $ 44,171 $ 40,135 Operating Noninterest Expense (Non-GAAP) (32,915) (32,455) (32,559) (32,569) (32,296) (32,291) (30,846) (29,201) Operating PPNR Earnings (Non-GAAP) $ 20,901 $ 20,858 $ 18,268 $ 16,676 $ 14,539 $ 14,458 $ 13,325 $ 10,934 Non-GAAP Return Ratios Operating Return On Average Assets (Non-GAAP)(1) 0.96% 0.95% 1.02% 0.88% 0.87% 0.75% 0.74% 0.64% Operating PPNR Return On Average Assets (Non-GAAP)(2) 1.47% 1.44% 1.29% 1.25% 1.12% 1.13% 1.08% 0.90% Return On Average Tangible Common Equity (Non-GAAP)(3) 11.93% 12.06% 12.79% 11.53% 11.60% 9.99% 9.75% 8.94% Operating Return On Average Shareholders' Equity (Non-GAAP)(4) 9.90% 9.96% 10.92% 9.19% 9.17% 7.80% 7.60% 6.72% Operating Return On Average Tangible Common Equity (Non-GAAP)(5) 11.93% 12.07% 13.53% 11.53% 11.60% 9.94% 9.75% 8.70% Operating Efficiency Ratio Efficiency Ratio (GAAP) 61.16% 60.91% 66.32% 66.14% 68.96% 68.98% 69.83% 72.25% Adjustment For Taxable Equivalent Yields (0.41%) (0.43%) (0.47%) (0.47%) (0.50%) (0.49%) (0.55%) (0.63%) Adjustment For Securities (Gains) Losses - - (4.50%) (0.01%) - 0.09% - - Adjustment For Sale of Branch Building - - - - - - - 0.51% Adjustment For Sale of SBKI / Donation of a Former Branch Location - - 5.57% - - - - - Adjustment For Accruals For Pending Litigation - - - - - - - - Adjustment For Merger Expenses - (0.02%) (3.31%) - - - - - Operating Efficiency Ratio (Non-GAAP) 60.75% 60.45% 63.61% 65.66% 68.46% 68.58% 69.28% 72.13%

1Q24 4Q23 3Q23 2Q23 1Q23 4Q22 3Q22 2Q22 Operating Earnings Net Income (GAAP) $ 9,358 $ 6,190 $ 2,067 $ 8,836 $ 11,500 $ 13,004 $ 11,543 $ 10,215 Noninterest Income: Securities (Gains) Losses - - 6,801 - - (144) - - Gain on Sale of Branch Building (1,346) - - - - - - - Gain on Sale of SBKI - - - - - - - - Noninterest Expenses: Donation of a Former Branch Location - 250 - - - - - - Accruals For Pending Litigation - 675 - - - - - - Merger Related And Restructuring Expenses - - 110 - - (45) 87 81 Income Taxes: Income Tax Effect Of Adjustments 348 (239) (1,785) - - 49 (22) (21) Operating Earnings (Non-GAAP) $ 8,360 $ 6,876 $ 7,193 $ 8,836 $ 11,500 $ 12,864 $ 11,608 $ 10,275 Operating Earnings Per Common Share (Non-GAAP): Basic $ 0.50 $ 0.41 $ 0.43 $ 0.53 $ 0.69 $ 0.77 $ 0.69 $ 0.61 Diluted 0.49 0.41 0.43 0.52 0.68 0.76 0.69 0.61 Operating Noninterest Income Noninterest Income (GAAP) $ 8,380 $ 7,579 $ 691 $ 7,130 $ 6,925 $ 7,125 $ 6,250 $ 7,229 Securities (Gains) Losses - - 6,801 - - (144) - - Gain on Sale of Branch Building (1,346) - - - - - - - Gain on Sale of SBKI - - - - - - - - Operating Noninterest Income (Non-GAAP) $ 7,034 $ 7,579 $ 7,492 $ 7,130 $ 6,925 $ 6,981 $ 6,250 $ 7,229 Operating Noninterest Expense Noninterest Expense (GAAP) $ 28,553 $ 29,695 $ 28,516 $ 27,410 $ 27,529 $ 27,416 $ 27,230 $ 25,926 Donation of a Former Branch Location - (250) - - - - - - Accruals For Pending Litigation - (675) - - - - - - Merger Related And Restructuring Expenses - - (110) - - 45 (87) (81) Operating Noninterest Expense (Non-GAAP) $ 28,553 $ 28,770 $ 28,406 $ 27,410 $ 27,529 $ 27,461 $ 27,143 $ 25,845 Operating Revenue Net Interest Income (GAAP) $ 31,721 $ 31,517 $ 31,006 $ 31,575 $ 35,982 $ 37,612 $ 36,708 $ 33,062 Operating Noninterest Income (Non-GAAP) 7,034 7,579 7,492 7,130 6,925 6,981 6,250 7,229 Operating Revenue (Non-GAAP) 38,755 39,096 38,498 38,705 42,907 44,593 42,958 40,291 Operating Pre-Provision Net Revenue ("PPNR") Earnings Operating Revenue (Non-GAAP) $ 38,755 $ 39,096 $ 38,498 $ 38,705 $ 42,907 $ 44,593 $ 42,958 $ 40,291 Operating Noninterest Expense (Non-GAAP) (28,553) (28,770) (28,406) (27,410) (27,529) (27,461) (27,143) (25,845) Operating PPNR Earnings (Non-GAAP) $ 10,202 $ 10,326 $ 10,092 $ 11,295 $ 15,378 $ 17,132 $ 15,815 $ 14,446 Non-GAAP Return Ratios Operating Return On Average Assets (Non-GAAP)(1) 0.69% 0.57% 0.60% 0.75% 0.97% 1.10% 0.96% 0.88% Operating PPNR Return On Average Assets (Non-GAAP)(2) 0.84% 0.86% 0.84% 0.96% 1.30% 1.46% 1.30% 1.23% Return On Average Tangible Common Equity (Non-GAAP)(3) 10.62% 7.18% 2.43% 10.57% 14.45% 16.65% 14.36% 13.02% Operating Return On Average Shareholders' Equity (Non-GAAP)(4) 7.29% 6.07% 6.41% 7.98% 10.79% 12.15% 10.83% 9.82% Operating Return On Average Tangible Common Equity (Non-GAAP)(5) 9.49% 7.98% 8.46% 10.57% 14.45% 16.47% 14.44% 13.09% Operating Efficiency Ratio Efficiency Ratio (GAAP) 71.20% 75.95% 89.96% 70.82% 64.16% 61.28% 63.39% 64.35% Adjustment For Taxable Equivalent Yields (0.17%) (0.18%) (0.27%) (0.18%) (0.14%) (0.22%) (0.25%) (0.27%) Adjustment For Securities (Gains) Losses - - (15.89%) - - 0.20% - - Adjustment For Sale of Branch Building 2.46% - - - - - - - Adjustment For Sale of SBKI / Donation of a Former Branch Location - (0.64%) - - - - - - Adjustment For Accruals For Pending Litigation - (1.72%) - - - - - - Adjustment For Merger Expenses - - (0.20%) - - 0.10% (0.21%) (0.20%) Operating Efficiency Ratio (Non-GAAP) 73.50% 73.41% 73.60% 70.64% 64.02% 61.36% 62.93% 63.88% NON-GAAP RECONCILIATION 25 1. Operating return on average assets (Non-GAAP) is the annualized operating earnings (Non-GAAP) divided by average assets. 2. Operating PPNR return on average assets (Non-GAAP) is the annualized operating PPNR earnings (Non-GAAP) divided by average assets. 3. Return on average tangible common equity (Non-GAAP) is the annualized net income divided by average tangible common equity (Non-GAAP). 4. Operating return on average shareholders’ equity (Non-GAAP) is the annualized operating earnings (Non-GAAP) divided by average shareholder equity. 5. Operating return on average tangible common equity (Non-GAAP) is the annualized operating earnings (Non-GAAP) divided by average tangible common equity (Non-GAAP). Note: Totals may not add due to rounding $ in Thousands, unless otherwise indicated

NON-GAAP RECONCILIATION 1. Tangible book value per share (Non-GAAP) is computed by dividing total stockholder’s equity, less goodwill and other intangible assets, by common shares outstanding. 26 Note: Totals may not add due to rounding $ in Thousands, unless otherwise indicated 1Q26 4Q25 3Q25 2Q25 1Q25 4Q24 3Q24 2Q24 Tangible Common Equity: Shareholders' Equity (GAAP) $ 562,161 $ 552,492 $ 538,482 $ 519,127 $ 505,941 $ 491,461 $ 489,023 $ 472,465 Less Goodwill And Other Intangible Assets 94,871 95,328 95,807 103,588 104,154 104,723 105,324 105,929 Tangible Common Equity (Non-GAAP) $ 467,290 $ 457,164 $ 442,675 $ 415,539 $ 401,787 $ 386,738 $ 383,699 $ 366,536 Average Tangible Common Equity: Average Shareholders' Equity (GAAP) $ 560,348 $ 546,489 $ 525,829 $ 511,067 $ 497,980 $ 489,172 $ 478,642 $ 466,371 Less Goodwill And Other Intangible Assets 95,145 95,619 101,326 103,936 104,504 105,093 105,701 106,301 Average Tangible Common Equity (Non-GAAP) $ 465,203 $ 450,870 $ 424,503 $ 407,131 $ 393,476 $ 384,079 $ 372,941 $ 360,070 Tangible Book Value Per Common Share: Book Value Per Common Share (GAAP) $ 32.88 $ 32.44 $ 31.62 $ 30.51 $ 29.73 $ 29.04 $ 28.89 $ 27.91 Adjustment Due To Goodwill And Other Intangible Assets (5.55) (5.59) (5.63) (6.09) (6.12) (6.19) (6.22) (6.25) Tangible Book Value Per Common Share (Non-GAAP)(1) $ 27.33 $ 26.85 $ 26.00 $ 24.42 $ 23.61 $ 22.85 $ 22.67 $ 21.66 Tangible Common Equity To Tangible Assets: Total Assets (GAAP) $ 5,907,685 $ 5,860,810 $ 5,784,983 $ 5,490,863 $ 5,411,217 $ 5,275,904 $ 4,908,934 $ 4,891,009 Less Goodwill And Other Intangibles 94,871 95,328 95,807 103,588 104,154 104,723 105,324 105,929 Tangible Assets (Non-GAAP) $ 5,812,814 $ 5,765,482 $ 5,689,176 $ 5,387,275 $ 5,307,063 $ 5,171,181 $ 4,803,610 $ 4,785,080 Tangible Common Equity To Tangible Assets (Non-GAAP): 8.04% 7.93% 7.78% 7.71% 7.57% 7.48% 7.99% 7.66%

NON-GAAP RECONCILIATION 1. Tangible book value per share (Non-GAAP) is computed by dividing total stockholder’s equity, less goodwill and other intangible assets, by common shares outstanding. 27 Note: Totals may not add due to rounding $ in Thousands, unless otherwise indicated 1Q24 4Q23 3Q23 2Q23 1Q23 4Q22 3Q22 2Q22 Tangible Common Equity: Shareholders' Equity (GAAP) $ 466,796 $ 459,886 $ 446,652 $ 444,847 $ 443,399 $ 432,452 $ 414,711 $ 420,427 Less Goodwill And Other Intangible Assets 106,537 107,148 107,792 108,439 109,114 109,772 110,460 104,582 Tangible Common Equity (Non-GAAP) $ 360,259 $ 352,738 $ 338,860 $ 336,408 $ 334,285 $ 322,680 $ 304,251 $ 315,845 Average Tangible Common Equity: Average Shareholders' Equity (GAAP) $ 461,148 $ 449,526 $ 445,432 $ 444,283 $ 432,382 $ 420,037 $ 425,365 $ 419,726 Less Goodwill And Other Intangible Assets 106,920 107,551 108,194 108,851 109,537 110,206 106,483 104,986 Average Tangible Common Equity (Non-GAAP) $ 354,228 $ 341,975 $ 337,238 $ 335,432 $ 322,845 $ 309,831 $ 318,882 $ 314,740 Tangible Book Value Per Common Share: Book Value Per Common Share (GAAP) $ 27.37 $ 27.07 $ 26.28 $ 26.16 $ 26.08 $ 25.59 $ 24.56 $ 24.88 Adjustment Due To Goodwill And Other Intangible Assets (6.25) (6.31) (6.34) (6.38) (6.42) (6.50) (6.54) (6.19) Tangible Book Value Per Common Share (Non-GAAP)(1) $ 21.12 $ 20.76 $ 19.94 $ 19.78 $ 19.66 $ 19.09 $ 18.02 $ 18.69 Tangible Common Equity To Tangible Assets: Total Assets (GAAP) $ 4,954,690 $ 4,829,387 $ 4,797,171 $ 4,745,800 $ 4,769,805 $ 4,637,498 $ 4,796,911 $ 4,788,113 Less Goodwill And Other Intangibles 106,537 107,148 107,792 108,439 109,114 109,772 110,460 104,582 Tangible Assets (Non-GAAP) $ 4,848,153 $ 4,722,239 $ 4,689,379 $ 4,637,361 $ 4,660,691 $ 4,527,726 $ 4,686,451 $ 4,683,531 Tangible Common Equity To Tangible Assets (Non-GAAP): 7.43% 7.47% 7.23% 7.25% 7.17% 7.13% 6.49% 6.74%

NON-GAAP RECONCILIATION 1. Tangible book value per share (Non-GAAP) is computed by dividing total stockholder’s equity, less goodwill and other intangible assets, by common shares outstanding. 28 Note: Totals may not add due to rounding $ in Thousands, unless otherwise indicated 1Q24 4Q23 3Q23 2Q23 1Q23 4Q22 3Q22 2Q22 Tangible Common Equity (Excluding AOCI): Shareholders' Equity (GAAP) $ 466,796 $ 459,886 $ 446,652 $ 444,847 $ 443,399 $ 432,452 $ 414,711 $ 420,427 Less Goodwill And Other Intangible Assets 106,537 107,148 107,792 108,439 109,114 109,772 110,460 104,582 Tangible Common Equity (Non-GAAP) $ 360,259 $ 352,738 $ 338,860 $ 336,408 $ 334,285 $ 322,680 $ 304,251 $ 315,845 Less Adjustment Due to AOCI (Loss) (27,425) (25,907) (34,156) (35,017) (28,620) (35,324) (40,807) (24,648) Tangible Common Equity (Excl. AOCI) (Non-GAAP) $ 387,684 $ 378,645 $ 373,016 $ 371,425 $ 362,905 $ 358,004 $ 345,058 $ 340,493 Tangible Book Value Per Common Share (Excluding AOCI): Book Value Per Common Share (GAAP) $ 27.37 $ 27.07 $ 26.28 $ 26.16 $ 26.08 $ 25.59 $ 24.56 $ 24.88 Adjustment Due To Goodwill And Other Intangible Assets (6.25) (6.31) (6.34) (6.38) (6.42) (6.50) (6.54) (6.19) Tangible Book Value Per Common Share (Non-GAAP)(1) $ 21.12 $ 20.76 $ 19.94 $ 19.78 $ 19.66 $ 19.09 $ 18.02 $ 18.69 Less Adjustment Due to AOCI (Loss) (1.61) (1.52) (2.01) (2.06) (1.68) (2.09) (2.42) (1.46) Tangible Book Value Per Common Share (Excl. AOCI) (Non-GAAP) $ 22.73 $ 22.29 $ 21.95 $ 21.84 $ 21.34 $ 21.18 $ 20.43 $ 20.15 1Q26 4Q25 3Q25 2Q25 1Q25 4Q24 3Q24 2Q24 Tangible Common Equity (Excluding AOCI): Shareholders' Equity (GAAP) $ 562,161 $ 552,492 $ 538,482 $ 519,127 $ 505,941 $ 491,461 $ 489,023 $ 472,465 Less Goodwill And Other Intangible Assets 94,871 95,328 95,807 103,588 104,154 104,723 105,324 105,929 Tangible Common Equity (Non-GAAP) $ 467,290 $ 457,164 $ 442,675 $ 415,539 $ 401,787 $ 386,738 $ 383,699 $ 366,536 Less Adjustment Due to AOCI (Loss) (12,366) (9,319) (10,781) (17,274) (19,647) (23,671) (17,349) (25,798) Tangible Common Equity (Excl. AOCI) (Non-GAAP) $ 479,656 $ 466,483 $ 453,456 $ 432,813 $ 421,434 $ 410,409 $ 401,048 $ 392,334 Tangible Book Value Per Common Share (Excluding AOCI): Book Value Per Common Share (GAAP) $ 32.88 $ 32.44 $ 31.62 $ 30.51 $ 29.73 $ 29.04 $ 28.89 $ 27.91 Adjustment Due To Goodwill And Other Intangible Assets (5.55) (5.59) (5.63) (6.09) (6.12) (6.19) (6.22) (6.25) Tangible Book Value Per Common Share (Non-GAAP)(1) $ 27.33 $ 26.85 $ 26.00 $ 24.42 $ 23.61 $ 22.85 $ 22.67 $ 21.66 Less Adjustment Due to AOCI (Loss) (0.72) (0.55) (0.63) (1.02) (1.15) (1.40) (1.02) (1.52) Tangible Book Value Per Common Share (Excl. AOCI) (Non-GAAP) $ 28.05 $ 27.39 $ 26.63 $ 25.43 $ 24.76 $ 24.25 $ 23.69 $ 23.18

NON-GAAP RECONCILIATION 1. Tangible book value per share (Non-GAAP) is computed by dividing total stockholder’s equity, less goodwill and other intangible assets, by common shares outstanding. 29 Note: Totals may not add due to rounding $ in Thousands, unless otherwise indicated 1Q26 2025Y 2024Y 2023Y 2022Y 2021Y Tangible Common Equity (Excluding AOCI): Shareholders' Equity (GAAP) $ 562,161 $ 552,492 $ 491,461 $ 459,886 $ 432,452 $ 429,430 Less Goodwill And Other Intangible Assets 94,871 95,328 104,723 107,148 109,772 105,852 Tangible Common Equity (Non-GAAP) $ 467,290 $ 457,164 $ 386,738 $ 352,738 $ 322,680 $ 323,578 Less Adjustment Due to AOCI (Loss) (12,366) (9,319) (23,671) (25,907) (35,324) 1,443 Tangible Common Equity (Excl. AOCI) (Non-GAAP) $ 479,656 $ 466,483 $ 410,409 $ 378,645 $ 358,004 $ 322,135 Tangible Book Value Per Common Share (Excluding AOCI): Book Value Per Common Share (GAAP) $ 32.88 $ 32.44 $ 29.04 $ 27.07 $ 25.59 $ 25.56 Adjustment Due To Goodwill And Other Intangible Assets (5.55) (5.59) (6.19) (6.31) (6.50) (6.30) Tangible Book Value Per Common Share (Non-GAAP)(1) $ 27.33 $ 26.85 $ 22.85 $ 20.76 $ 19.09 $ 19.26 Less Adjustment Due to AOCI (Loss) (0.72) (0.55) (1.40) (1.52) (2.09) 0.09 Tangible Book Value Per Common Share (Excl. AOCI) (Non-GAAP) $ 28.05 $ 27.39 $ 24.25 $ 22.29 $ 21.18 $ 19.17

CONTACT 30 Billy Carroll President & CEO 865.868.0613 Billy.Carroll@smartbank.com Miller Welborn Chairman 423.385.3067 Miller.Welborn@smartbank.com 5401 Kingston Pike, Suite 600 Knoxville, TN 37919 Ron Gorczynski Chief Financial Officer 865.437.5724 Ron.Gorczynski@smartbank.com

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