SMARTFINANCIAL INC.
For the period ended Dec 31, 2024. Filed Mar 17, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Mar 17, 2025
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, 2024 and 2023
| | | | | | | |
|---|---|---|---|---|---|---|
| · · 2024 · · 2023 | ||||||
| ASSETS: · · | ||||||
| Cash and due from banks | | $96,508 | | $61,586 | ||
| Interest-bearing deposits with banks | | 277,005 | | 233,237 | ||
| Federal funds sold | | 14,057 | | 57,448 | ||
| Total cash and cash equivalents | | 387,570 | | 352,271 | ||
| Securities available-for-sale, at fair value | | 482,328 | | 408,410 | ||
| Securities held-to-maturity, at amortized cost | | | 126,659 | | | 281,236 |
| Other investments | | 14,740 | | 13,662 | ||
| Loans held for sale | | 5,996 | | 4,418 | ||
| Loans and leases | | 3,906,340 | | 3,444,462 | ||
| Less: Allowance for credit losses | | (37,423) | | (35,066) | ||
| Loans and leases, net | | 3,868,917 | | 3,409,396 | ||
| Premises and equipment, net | | 91,093 | | 92,963 | ||
| Other real estate owned | | 179 | | 517 | ||
| Goodwill and other intangibles, net | | 104,723 | | 107,148 | ||
| Bank owned life insurance | | 115,917 | | 83,434 | ||
| Other assets | | 77,782 | | 75,932 | ||
| Total assets | | $5,275,904 | | $4,829,387 | ||
| | | | | | | |
| LIABILITIES AND SHAREHOLDERS' EQUITY: | | | ||||
| Deposits: | | | ||||
| Noninterest-bearing demand | | $965,552 | | $898,044 | ||
| Interest-bearing demand | | 836,731 | | 1,006,915 | ||
| Money market and savings | | 2,039,560 | | 1,812,427 | ||
| Time deposits | | 844,640 | | 550,468 | ||
| Total deposits | | 4,686,483 | | 4,267,854 | ||
| Borrowings | | 8,135 | | 13,078 | ||
| Subordinated debt | | 39,684 | | 42,099 | ||
| Other liabilities | | 50,141 | | 46,470 | ||
| Total liabilities | | 4,784,443 | | 4,369,501 | ||
| 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; 16,925,672 and 16,988,879 shares issued and outstanding, respectively | | 16,926 | | 16,989 | ||
| Additional paid-in capital | | 294,269 | | 295,699 | ||
| Retained earnings | | 203,824 | | 173,105 | ||
| Accumulated other comprehensive income (loss) | | (23,671) | | (25,907) | ||
| Total shareholders' equity attributable to SmartFinancial Inc. and Subsidiary | | 491,348 | | 459,886 | ||
| Non-controlling interest - preferred stock of subsidiary | | | 113 | | | — |
| Total shareholders' equity | | | 491,461 | | | 459,886 |
| Total liabilities and shareholders' equity | | $5,275,904 | | $4,829,387 | ||
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.