SMARTFINANCIAL INC
For the period ended Dec 31, 2023. Filed Mar 15, 2024.
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FY2023 · Filed Mar 15, 2024
SMBK$48.50+1.6%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Balance Sheets
December 31, 2023 and 2022
| | | | | | | |
|---|---|---|---|---|---|---|
| · · 2023 · · 2022 | ||||||
| ASSETS: · · | ||||||
| Cash and due from banks | | $61,586 | | $44,265 | ||
| Interest-bearing deposits with banks | | 233,237 | | 206,849 | ||
| Federal funds sold | | 57,448 | | 15,310 | ||
| Total cash and cash equivalents | | 352,271 | | 266,424 | ||
| Securities available-for-sale, at fair value | | 408,410 | | 483,893 | ||
| Securities held-to-maturity, at amortized cost | | | 281,236 | | | 285,949 |
| Other investments | | 13,662 | | 15,530 | ||
| Loans held for sale | | 4,418 | | 1,752 | ||
| Loans and leases | | 3,444,462 | | 3,253,627 | ||
| Less: Allowance for credit losses | | (35,066) | | (23,334) | ||
| Loans and leases, net | | 3,409,396 | | 3,230,293 | ||
| Premises and equipment, net | | 92,963 | | 92,511 | ||
| Other real estate owned | | 517 | | 1,436 | ||
| Goodwill and other intangibles, net | | 107,148 | | 109,772 | ||
| Bank owned life insurance | | 83,434 | | 81,470 | ||
| Other assets | | 75,932 | | 68,468 | ||
| Total assets | | $4,829,387 | | $4,637,498 | ||
| | | | | | | |
| LIABILITIES AND SHAREHOLDERS’ EQUITY: | | | ||||
| Deposits: | | | ||||
| Noninterest-bearing demand | | $898,044 | | $1,072,449 | ||
| Interest-bearing demand | | 1,006,915 | | 965,911 | ||
| Money market and savings | | 1,812,427 | | 1,583,481 | ||
| Time deposits | | 550,468 | | 455,259 | ||
| Total deposits | | 4,267,854 | | 4,077,100 | ||
| Borrowings | | 13,078 | | 41,860 | ||
| Subordinated debt | | 42,099 | | 42,015 | ||
| Other liabilities | | 46,470 | | 44,071 | ||
| Total liabilities | | 4,369,501 | | 4,205,046 | ||
| Commitments and contingent liabilities – see Note 14 | | | — | | | — |
| Shareholders’ equity: | | | ||||
| Preferred stock, $1 par value; 2,000,000 shares authorized; No shares issued and outstanding | | — | | — | ||
| Common stock, $1 par value; 40,000,000 shares authorized; 16,988,879 and 16,900,805 shares issued and outstanding, respectively | | 16,989 | | 16,901 | ||
| Additional paid-in capital | | 295,699 | | 294,330 | ||
| Retained earnings | | 173,105 | | 156,545 | ||
| Accumulated other comprehensive income (loss) | | (25,907) | | (35,324) | ||
| Total shareholders’ equity | | 459,886 | | 432,452 | ||
| Total liabilities and shareholders’ equity | | $4,829,387 | | $4,637,498 | ||
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.