NYSE : SMBK
SmartFinancial, Inc. — Financial statements
Financials · Banks - Regional · United States
Last price 48.47 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 828.63M
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Interest Income on Loans | 273.81M | 248.67M | 213.56M | 186.48M | 136.38M | 118.58M |
| Interest Income on Investments | 36.17M | 37.31M | 37.56M | 31.56M | 22.45M | 6.65M |
| Total Interest Income | 309.98M | 285.97M | 251.12M | 218.04M | 158.83M | 125.23M |
| Interest Paid on Deposits | 113.65M | 114.75M | 109.26M | 84.26M | 18.23M | 8.85M |
| Interest Paid on Borrowings | 7.89M | 5.12M | 4.51M | 3.70M | 3.10M | 2.99M |
| Total Interest Expense | 121.54M | 119.87M | 113.77M | 87.96M | 21.33M | 11.84M |
| Net Interest Income | 188.44M | 166.10M | 137.35M | 130.08M | 137.50M | 113.39M |
| Mortgage Banking Activities | 3.54M | 2.67M | 1.58M | 1.04M | 1.55M | 4.04M |
| Gain (Loss) on Sale of Investments | 55.00K | -3.72M | 64.00K | -6.80M | 144.00K | 45.00K |
| Other Non-Interest Income | 24.98M | 28.24M | 25.65M | 21.57M | 20.17M | 15.21M |
| Total Non-Interest Income | 32.18M | 34.35M | 34.15M | 22.32M | 27.71M | 23.95M |
| Revenues Before Loan Losses | 220.61M | 200.46M | 171.50M | 152.41M | 165.22M | 137.34M |
| Provision for Loan Losses | 10.42M | 7.75M | 5.15M | 3.03M | 4.02M | 1.63M |
| Revenue | 210.19M | 192.71M | 166.35M | 149.38M | 161.20M | 135.71M |
| Salaries and Employee Benefits | 81.02M | 76.36M | 70.47M | 64.40M | 62.03M | 50.71M |
| Occupancy Expenses | 11.68M | 11.77M | 11.63M | 11.65M | 10.30M | 8.88M |
| Federal Deposit Insurance | 3.60M | 4.00M | 3.39M | 3.16M | 2.67M | 1.83M |
| Amortization of Goodwill & Intangibles | 1.84M | 2.15M | 2.42M | 2.62M | 2.61M | 2.26M |
| Selling, General & Administrative | 21.00M | 20.56M | 19.07M | 17.17M | 15.49M | 12.61M |
| Other Non-Interest Expense | 12.28M | 11.79M | 11.08M | 11.64M | 10.18M | 9.31M |
| Total Non-Interest Expense | 135.68M | 129.88M | 120.89M | 113.04M | 105.73M | 87.69M |
| EBT Excluding Unusual Items | 74.51M | 62.83M | 45.46M | 36.34M | 55.47M | 48.02M |
| Pretax Income | 74.50M | 61.50M | 45.46M | 36.23M | 54.91M | 44.32M |
| Income Tax Expense | 12.16M | 11.15M | 9.32M | 7.63M | 11.89M | 9.53M |
| Net Income | 62.33M | 50.35M | 36.14M | 28.59M | 43.02M | 34.79M |
| Net Income to Common | 62.33M | 50.35M | 36.14M | 28.59M | 43.02M | 34.79M |
| Basic Shares Outstanding | 16.81M | 16.78M | 16.77M | 16.81M | 16.74M | 15.57M |
| Diluted Shares Outstanding | 16.97M | 16.90M | 16.88M | 16.91M | 16.87M | 15.70M |
| EPS (Basic) | 3.71 | 3.00 | 2.16 | 1.70 | 2.57 | 2.23 |
| EPS (Diluted) | 3.67 | 2.98 | 2.14 | 1.69 | 2.55 | 2.22 |
| Dividend Per Share | 0.34 | 0.32 | 0.32 | 0.32 | 0.28 | 0.24 |
| Effective Tax Rate | 16.33% | 18.14% | 20.50% | 21.07% | 21.65% | 21.50% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 364.88M | 464.42M | 387.57M | 352.27M | 266.42M | 1.05B |
| Investment Securities | 141.09M | 202.74M | 272.30M | 427.55M | 528.92M | 331.57M |
| Trading Asset Securities | 13.20M | 12.13M | 12.82M | 11.83M | 1.33M | |
| Mortgage-Backed Securities | 557.39M | 459.26M | 336.68M | 262.09M | 240.92M | 227.85M |
| Total Investments | 698.47M | 675.20M | 621.12M | 702.47M | 781.68M | 560.75M |
| Gross Loans | 4.86B | 4.36B | 3.91B | 3.44B | 3.25B | 2.71B |
| Allowance for Loan Losses | -45.65M | -40.91M | -37.42M | -35.07M | -23.33M | -19.35M |
| Other Adjustments to Gross Loans | -15.27M | |||||
| Net Loans | 4.81B | 4.32B | 3.87B | 3.41B | 3.23B | 2.67B |
| Property, Plant & Equipment | 94.20M | 99.54M | 103.04M | 102.86M | 101.83M | 95.77M |
| Goodwill | 90.37M | 96.14M | 96.14M | 96.14M | 91.56M | |
| Other Intangible Assets | 93.97M | 4.96M | 8.58M | 11.00M | 13.63M | 14.29M |
| Loans Held for Sale | 10.21M | 10.87M | 6.00M | 4.42M | 1.75M | 5.10M |
| Accrued Interest Receivable | 15.50M | 14.20M | 12.50M | |||
| Long-Term Deferred Tax Assets | 16.88M | 21.41M | 22.31M | 24.59M | 11.23M | |
| Other Real Estate Owned & Foreclosed | 2.07M | 179.00K | 517.00K | 1.44M | 1.78M | |
| Other Long-Term Assets | 245.95M | 155.29M | 143.40M | 111.72M | 114.33M | 105.52M |
| Total Assets | 6.32B | 5.86B | 5.28B | 4.83B | 4.64B | 4.61B |
| Interest Bearing Deposits | 4.66B | 3.64B | 3.42B | 3.14B | 2.86B | 2.81B |
| Institutional Deposits | 452.70M | 302.80M | 225.70M | 147.20M | 160.00M | |
| Non-Interest Bearing Deposits | 920.12M | 1.06B | 965.55M | 898.04M | 1.07B | 1.06B |
| Total Deposits | 5.58B | 5.15B | 4.69B | 4.27B | 4.08B | 4.02B |
| Short-Term Borrowings | 345.00K | 16.53M | 17.30M | 19.89M | 17.94M | 9.99M |
| Current Portion of Leases | 1.80M | |||||
| Long-Term Debt | 98.88M | 98.66M | 43.72M | 50.08M | 79.08M | 49.41M |
| Federal Home Loan Bank Debt, Long-Term | 75.00M | |||||
| Long-Term Leases | 9.95M | 12.47M | 10.30M | 9.46M | 9.88M | |
| Other Long-Term Liabilities | 64.11M | 28.58M | 24.47M | 21.38M | 21.48M | 15.92M |
| Total Liabilities | 5.74B | 5.31B | 4.78B | 4.37B | 4.21B | 4.18B |
| Common Stock | 17.10M | 17.03M | 16.93M | 16.99M | 16.90M | 16.80M |
| Additional Paid-In Capital | 297.37M | 295.95M | 294.27M | 295.70M | 294.33M | 292.94M |
| Retained Earnings | 292.90M | 248.72M | 203.82M | 173.10M | 156.54M | 118.25M |
| Comprehensive Income & Other | -26.22M | -9.32M | -23.67M | -25.91M | -35.32M | 1.44M |
| Total Common Equity | 581.14M | 552.38M | 491.35M | 459.89M | 432.45M | 429.43M |
| Minority Interest | 113.00K | 113.00K | 113.00K | |||
| Shareholders' Equity | 581.26M | 552.49M | 491.46M | 459.89M | 432.45M | 429.43M |
| Total Liabilities & Equity | 6.32B | 5.86B | 5.28B | 4.83B | 4.64B | 4.61B |
| Total Debt | 99.22M | 126.95M | 73.49M | 80.27M | 106.47M | 144.29M |
| Net Cash (Debt) | 265.65M | 350.67M | 326.22M | 284.82M | 171.79M | 902.11M |
| Net Cash Per Share | 15.65 | 20.75 | 19.33 | 16.84 | 10.18 | 57.46 |
| Filing Date Shares Outstanding | 17.10M | 17.10M | 17.02M | 17.06M | 17.00M | 16.89M |
| Total Common Shares Outstanding | 17.10M | 17.03M | 16.93M | 16.99M | 16.90M | 16.80M |
| Book Value Per Share | 33.99 | 32.44 | 29.03 | 27.07 | 25.59 | 25.56 |
| Tangible Book Value | 487.18M | 457.05M | 386.62M | 352.74M | 322.68M | 323.58M |
| Tangible Book Value Per Share | 28.50 | 26.84 | 22.84 | 20.76 | 19.09 | 19.26 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 50.35M | 36.14M | 28.59M | 43.02M | 34.79M | |
| Depreciation & Amortization | 9.74M | 11.41M | 13.50M | 12.64M | 9.00M | |
| Gain (Loss) on Sale of Assets | -3.31M | -653.00K | 97.00K | -162.00K | 160.00K | |
| Gain (Loss) on Sale of Investments | 3.72M | -64.00K | 6.80M | -144.00K | -45.00K | |
| Total Asset Writedown | -2.16M | -4.51M | ||||
| Provision for Credit Losses | 7.75M | 5.15M | 3.03M | 4.02M | 1.63M | |
| Net Decrease (Increase) in Loans Originated / Sold - Operating | -2.30M | -115.00K | -1.63M | 4.90M | 10.66M | |
| Accrued Interest Receivable | -1.45M | -898.00K | -2.99M | -4.24M | 809.00K | |
| Change in Other Net Operating Assets | -1.49M | 3.67M | -9.86M | 1.59M | -804.00K | |
| Other Operating Activities | -4.08M | -2.36M | -655.00K | -2.41M | -1.07M | |
| Operating Cash Flow | 61.72M | 52.70M | 39.72M | 56.79M | 46.18M | |
| Capital Expenditures | -2.39M | -6.41M | -6.27M | -12.49M | -2.38M | |
| Sale of Property, Plant and Equipment | 123.00K | 4.70M | 682.00K | 1.46M | ||
| Cash Acquisitions | -4.88M | 15.36M | ||||
| Investment in Securities | -40.62M | 79.09M | 80.96M | -268.97M | -286.71M | |
| Net Decrease (Increase) in Loans Originated / Sold - Investing | -464.34M | -469.25M | -213.59M | -558.39M | 46.64M | |
| Other Investing Activities | 8.18M | -28.36M | 2.98M | 2.44M | -40.74M | |
| Investing Cash Flow | -499.05M | -420.22M | -135.24M | -840.82M | -264.99M | |
| Short-Term Debt Issued | 303.00K | |||||
| Long-Term Debt Issued | 101.07M | 160.10M | 26.27M | 30.89M | 8.20M | |
| Total Debt Issued | 101.07M | 160.10M | 26.58M | 30.89M | 8.20M | |
| Short-Term Debt Repaid | -1.13M | -944.00K | -310.00K | -1.51M | ||
| Long-Term Debt Repaid | -46.50M | -166.60M | -30.77M | -76.30M | -1.10M | |
| Total Debt Repaid | -47.63M | -167.54M | -30.77M | -76.61M | -2.61M | |
| Net Debt Issued (Repaid) | 53.44M | -7.44M | -4.20M | -45.73M | 5.59M | |
| Issuance of Common Stock | 153.00K | 68.00K | 165.00K | 397.00K | 205.00K | |
| Repurchase of Common Stock | -308.00K | -3.19M | -57.00K | -206.00K | -1.21M | |
| Common Dividends Paid | -5.45M | -5.42M | -5.43M | -4.72M | -3.73M | |
| Total Dividends Paid | -5.45M | -5.42M | -5.43M | -4.72M | -3.73M | |
| Net Increase (Decrease) in Deposit Accounts | 466.34M | 418.70M | 190.89M | 55.63M | 781.32M | |
| Other Financing Activities | 113.00K | |||||
| Financing Cash Flow | 514.17M | 402.82M | 181.37M | 5.37M | 782.17M | |
| Net Cash Flow | 76.85M | 35.30M | 85.85M | -778.65M | 563.36M | |
| Free Cash Flow | 59.34M | 46.30M | 33.45M | 44.31M | 43.80M | |
| Free Cash Flow Margin | 30.79% | 27.83% | 22.39% | 27.48% | 32.28% | |
| Free Cash Flow Per Share | 3.51 | 2.74 | 1.98 | 2.63 | 2.79 | |
| Cash Interest Paid | 116.44M | 113.67M | 85.44M | 21.36M | 12.16M | |
| Cash Income Tax Paid | 12.39M | 8.77M | 9.35M | 12.21M | 9.28M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 828.63M | 629.87M | 524.38M | 416.20M | 464.43M | 459.70M |
| Last Close Price | 48.47 | 36.77 | 30.51 | 23.82 | 26.38 | 25.97 |
| PE Ratio | 13.21 | 12.51 | 14.51 | 14.56 | 10.79 | 13.21 |
| PS Ratio | 3.94 | 3.27 | 3.15 | 2.79 | 2.88 | 3.39 |
| PB Ratio | 1.43 | 1.14 | 1.07 | 0.91 | 1.07 | 1.07 |
| P/FCF Ratio | 12.68 | 10.62 | 11.33 | 12.44 | 10.48 | 10.49 |
| P/OCF Ratio | 11.28 | 10.21 | 9.95 | 10.48 | 8.18 | 9.95 |
| Debt / Equity Ratio | 0.17 | 0.23 | 0.15 | 0.17 | 0.25 | 0.34 |
| Debt / FCF Ratio | 2.14 | 1.59 | 2.40 | 2.40 | 3.29 | |
| Net Debt / Equity Ratio | -0.46 | -0.64 | -0.66 | -0.62 | -0.40 | -2.10 |
| Net Debt / FCF Ratio | -5.91 | -7.05 | -8.52 | -3.88 | -20.59 | |
| Return on Equity (ROE) | 11.13% | 9.64% | 7.60% | 6.41% | 9.98% | 8.85% |
| Return on Assets (ROA) | 1.03% | 0.90% | 0.71% | 0.60% | 0.93% | 0.88% |
| Earnings Yield | 7.57% | 7.99% | 6.89% | 6.87% | 9.26% | 7.57% |
| FCF Yield | 7.89% | 9.42% | 8.83% | 8.04% | 9.54% | 9.53% |
| Dividend Yield | 0.74% | 0.86% | 1.03% | 1.31% | 1.02% | 0.88% |
| Payout Ratio | 9.81% | 10.83% | 15.00% | 18.98% | 10.98% | 10.72% |
| Buyback Yield / Dilution | -0.51% | -0.12% | 0.21% | -0.24% | -7.47% | -4.53% |
| Total Shareholder Return | 0.23% | 0.74% | 1.24% | 1.07% | -6.45% | -3.65% |