SMARTFINANCIAL INC.
For the period ended Oct 21, 2025. Filed Oct 21, 2025.
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Oct 21, 2025 · Filed Oct 21, 2025
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Contents
EX-99.1 · YIELD ANALYSIS
YIELD ANALYSIS
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| · · Three Months Ended | |||||||||||||||||||||||||
| · · September 30, 2025 · · June 30, 2025 · · September 30, 2024 | |||||||||||||||||||||||||
| · Average · · · Yield/ · Average · · · Yield/ · Average · · Yield/ | |||||||||||||||||||||||||
| · · Balance · · Interest · · Cost · · Balance · · Interest · · Cost · · Balance · · Interest · · Cost | |||||||||||||||||||||||||
| Assets: · · · · · · · | |||||||||||||||||||||||||
| Loans and leases, including fees1 | | $4,171,444 | | $64,526 | 6.14% | $4,050,485 | | $61,294 | 6.07% | $3,634,808 | | $54,993 | 6.02% | ||||||||||||
| Taxable securities | | 556,894 | | 4,876 | 3.47% | 562,660 | | 4,848 | 3.46% | 564,978 | | 5,233 | 3.68% | ||||||||||||
| Tax-exempt securities2 | | 69,843 | | 558 | 3.17% | 66,223 | | 500 | 3.03% | 63,561 | | 443 | 2.77% | ||||||||||||
| Federal funds sold and other earning assets | | 428,209 | | 4,919 | 4.56% | 275,647 | | 3,161 | 4.60% | 267,252 | | 3,634 | 5.41% | ||||||||||||
| Total interest-earning assets | | 5,226,390 | | 74,879 | 5.68% | 4,955,015 | | 69,803 | 5.65% | 4,530,599 | | 64,303 | 5.65% | ||||||||||||
| Noninterest-earning assets | | 408,560 | | | | | 405,804 | | | 381,306 | | | |||||||||||||
| Total assets | | $5,634,950 | | | | | | | $5,360,819 | | | $4,911,905 | | | |||||||||||
| | | | | | | | | | | | | | | | | | | | | | | | | | |
| Liabilities and Shareholders’ Equity: | | | | | | | | | |||||||||||||||||
| Interest-bearing demand deposits | | $869,690 | | 4,048 | | 1.85% | $835,394 | | 3,785 | 1.82% | $925,307 | | 5,289 | 2.27% | |||||||||||
| Money market and savings deposits | | 2,186,245 | | 16,693 | | 3.03% | 2,104,236 | | 15,762 | 3.00% | 1,917,301 | | 16,608 | 3.45% | |||||||||||
| Time deposits | | 1,005,800 | | 9,723 | | 3.84% | 914,658 | | 8,754 | 3.84% | 560,699 | | 5,453 | 3.87% | |||||||||||
| Total interest-bearing deposits | | 4,061,735 | | 30,464 | | 2.98% | 3,854,288 | | 28,301 | 2.95% | 3,403,307 | | 27,350 | 3.20% | |||||||||||
| Borrowings | | 4,351 | | 14 | | 1.28% | 7,783 | | 70 | 3.61% | 53,592 | | 709 | 5.26% | |||||||||||
| Subordinated debt | | 85,113 | | 1,610 | | 7.50% | 39,714 | | 739 | 7.46% | 40,846 | | 865 | 8.42% | |||||||||||
| Total interest-bearing liabilities | | 4,151,199 | | 32,088 | | 3.07% | 3,901,785 | | 29,110 | 2.99% | 3,497,745 | | 28,924 | 3.29% | |||||||||||
| Noninterest-bearing deposits | | 900,079 | | | | | | 898,428 | | | 884,938 | | | ||||||||||||
| Other liabilities | | 57,843 | | | | | | 49,539 | | | 50,580 | | | ||||||||||||
| Total liabilities | | 5,109,121 | | | | | | 4,849,752 | | | 4,433,263 | | | ||||||||||||
| Shareholders' equity | | 525,829 | | | | | | 511,067 | | | 478,642 | | | ||||||||||||
| Total liabilities and shareholders' equity | | $5,634,950 | | | | | | | $5,360,819 | | | $4,911,905 | | | |||||||||||
| | | | | | | | | | | | | | | | | | | | | | | | | | |
| Net interest income, taxable equivalent | | | | | $42,791 | | | | | $40,693 | | | $35,379 | | |||||||||||
| Interest rate spread | | | | | | 2.62% | | 2.66% | | 2.36% | |||||||||||||||
| Tax equivalent net interest margin | | | | | | 3.25% | | 3.29% | | 3.11% | |||||||||||||||
| | | | | | | | | | | | | | | | | | | | | | | | | | |
| Percentage of average interest-earning assets to average interest-bearing liabilities | | | | | | 125.90% | | 126.99% | | 129.53% | |||||||||||||||
| Percentage of average equity to average assets | | | | | | 9.33% | | 9.53% | | 9.74% | |||||||||||||||
1 Yields computed on tax-exempt loans on a tax equivalent basis include $244 thousand, $245 thousand, and $255 thousand of taxable equivalent income for the quarters ended September 30, 2025, June 30, 2025, and September 30, 2024, respectively.
2 Yields computed on tax-exempt instruments on a tax equivalent basis include $117 thousand, $105 thousand, and $93 thousand of taxable equivalent income for the quarters ended September 30, 2025, June 30, 2025, and September 30, 2024, respectively.
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