SMARTFINANCIAL INC.
For the period ended Dec 31, 2024. Filed Mar 17, 2025.
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FY2024 · Filed Mar 17, 2025
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 Comprehensive Income
| | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|
| · · 2024 · · 2023 · · 2022 | |||||||||
| Net income | | $36,141 | | $28,593 | | $43,022 | |||
| Other comprehensive income (loss): | | | | ||||||
| Investment securities: | | | | | | | | | |
| Unrealized holding gains (losses) on securities available-for-sale | | 2,043 | | 6,410 | | (46,152) | |||
| Tax effect | | (528) | | (1,656) | | 11,921 | |||
| Reclassification of unrealized gains (losses) on securities transferred from available-for-sale to held-to-maturity | | | — | | | — | | | (2,009) |
| Tax effect | | | — | | | — | | | 519 |
| Amortization of unrealized gains (losses) on investment securities transferred from available-for-sale to held-to-maturity | | | 132 | | | 148 | | | 112 |
| Tax effect | | | (34) | | | (38) | | | (29) |
| Reclassification adjustment for realized losses (gains) included in net income | | (64) | | 6,801 | | 796 | |||
| Tax effect | | 17 | | (1,757) | | (206) | |||
| Unrealized gains (losses) on securities available-for-sale, net of tax | | 1,566 | | 9,908 | | (35,048) | |||
| Fair value hedging activities: | | | | | | | | | |
| Unrealized gains (losses) on fair value municipal security hedges | | 712 | | (536) | | (75) | |||
| Tax effect | | (184) | | 139 | | 19 | |||
| Reclassification adjustment for realized losses (gains) included in net income | | | (401) | | | — | | | (940) |
| Tax effect | | | 104 | | | — | | | 243 |
| Unrealized gains (losses) on fair value hedged instruments arising during the period, net of tax | | 231 | | (397) | | (753) | |||
| Cash flow hedging activities: | | | | | | | | | |
| Unrealized gains (losses) on cash flow hedges | | | 590 | | | (196) | | | (1,303) |
| Tax effect | | | (152) | | | 51 | | | 337 |
| Reclassification adjustment for realized losses (gains) included in net income | | | 2 | | | 69 | | | — |
| Tax effect | | | (1) | | | (18) | | | — |
| Unrealized gains (losses) on cash flow hedge instruments arising during the period, net of tax | | | 439 | | | (94) | | | (966) |
| | | | | | | | | | |
| Total other comprehensive income (loss) | | 2,236 | | 9,417 | | (36,767) | |||
| Comprehensive income | | $38,377 | | $38,010 | | $6,255 | |||
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.