SMARTFINANCIAL INC.
For the period ended Dec 31, 2025. Filed Mar 16, 2026.
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FY2025 · Filed Mar 16, 2026
SMBK$48.10-0.8%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Income
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|---|---|---|---|---|---|---|---|---|---|
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| · · | |||||||||
| · · 2025 · · 2024 · · 2023 | |||||||||
| Interest income: · · · · · · · | |||||||||
| Loans and leases, including fees | | $248,666 | | $213,562 | | $186,479 | |||
| Securities: | | | | | | | |||
| Taxable | | 20,161 | | 20,151 | | | 16,665 | ||
| Tax-exempt | | 1,726 | | 1,406 | | | 1,418 | ||
| Federal funds sold and other earning assets | | 15,419 | | 16,000 | | | 13,481 | ||
| Total interest income | | 285,972 | | 251,119 | | | 218,043 | ||
| Interest expense: | | | | | | | |||
| Deposits | | 114,747 | | 109,260 | | | 84,260 | ||
| Borrowings | | 155 | | 1,075 | | | 936 | ||
| Subordinated debt | | 4,966 | | 3,434 | | | 2,767 | ||
| Total interest expense | | 119,868 | | 113,769 | | | 87,963 | ||
| Net interest income | | 166,104 | | 137,350 | | | 130,080 | ||
| Provision for credit losses | | 7,750 | | 5,153 | | | 3,029 | ||
| Net interest income after provision for credit losses | | 158,354 | | 132,197 | | | 127,051 | ||
| Noninterest income: | | | | | | | |||
| Service charges on deposit accounts | | | 7,161 | | | 6,862 | | | 6,511 |
| Gain (loss) on sale of securities, net | | (3,719) | | 64 | | | (6,801) | ||
| Mortgage banking | | 2,673 | | 1,579 | | | 1,040 | ||
| Investment services | | 6,582 | | 5,945 | | | 5,105 | ||
| Insurance commissions | | | 4,016 | | | 5,696 | | | 4,684 |
| Interchange and debit card transaction fees, net | | | 5,275 | | | 5,277 | | | 5,457 |
| Gain on sale of SBK Insurance ("SBKI") | | 3,955 | | — | | | — | ||
| Other | | 8,409 | | 8,729 | | | 6,329 | ||
| Total noninterest income | | 34,352 | | 34,152 | | | 22,325 | ||
| Noninterest expense: | | | | | | | |||
| Salaries and employee benefits | | 78,297 | | 72,100 | | | 65,749 | ||
| Occupancy and equipment | | 13,686 | | 13,617 | | | 13,451 | ||
| FDIC insurance | | 4,002 | | 3,390 | | | 3,156 | ||
| Other real estate and loan related expense | | 3,242 | | 2,823 | | | 2,397 | ||
| Advertising and marketing | | 1,619 | | 1,321 | | | 1,342 | ||
| Data processing and technology | | 10,316 | | 9,930 | | | 9,235 | ||
| Professional services | | 4,775 | | 4,207 | | | 3,443 | ||
| Amortization of intangibles | | 2,150 | | 2,425 | | | 2,624 | ||
| Merger related and restructuring expenses | | 1,326 | | — | | | 110 | ||
| Other | | 11,792 | | 11,077 | | | 11,643 | ||
| Total noninterest expense | | 131,205 | | 120,890 | | | 113,150 | ||
| Income before income tax expense | | 61,501 | | 45,459 | | | 36,226 | ||
| Income tax expense | | 11,154 | | 9,318 | | | 7,633 | ||
| Net income | | $50,347 | | $36,141 | | $28,593 | |||
| Earnings per common share: | | | | | | | |||
| Basic | | $3.00 | | $2.16 | | $1.70 | |||
| Diluted | | $2.98 | | $2.14 | | $1.69 | |||
| Weighted average common shares outstanding: | | | | | | | |||
| Basic | | 16,779,019 | | 16,768,956 | | | 16,805,068 | ||
| Diluted | | 16,896,519 | | 16,875,456 | | | 16,911,185 | ||
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