SMARTFINANCIAL INC.

For the period ended Dec 31, 2024. Filed Mar 17, 2025.

About this filing

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$48.10-0.8%Stored close · as of Nov 10, 2026

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Contents

Consolidated Statements of Income


· 2024 · 2023 · 2022
Interest income: · · · ·
Loans and leases, including fees	$213,562	$186,479	$136,381
Securities:
Taxable	20,151	16,665	11,799
Tax-exempt	1,406	1,418	2,166
Federal funds sold and other earning assets	16,000	13,481	8,488
Total interest income	251,119	218,043	158,834
Interest expense:
Deposits	109,260	84,260	18,228
Borrowings	1,075	936	602
Subordinated debt	3,434	2,767	2,503
Total interest expense	113,769	87,963	21,333
Net interest income	137,350	130,080	137,501
Provision for credit losses	5,153	3,029	4,018
Net interest income after provision for credit losses	132,197	127,051	133,483
Noninterest income:
Service charges on deposit accounts	6,862	6,511	5,853
Gain (loss) on sale of securities	64	(6,801)	144
Mortgage banking	1,579	1,040	1,552
Investment services	5,945	5,105	4,144
Insurance commissions	5,696	4,684	3,595
Interchange and debit card transaction fees, net	5,277	5,457	5,435
Other	8,729	6,329	6,992
Total noninterest income	34,152	22,325	27,715
Noninterest expense:
Salaries and employee benefits	72,100	65,749	63,420
Occupancy and equipment	13,617	13,451	12,034
FDIC insurance	3,390	3,156	2,672
Other real estate and loan related expense	2,823	2,397	2,446
Advertising and marketing	1,321	1,342	1,293
Data processing and technology	9,930	9,235	7,283
Professional services	4,207	3,443	3,790
Amortization of intangibles	2,425	2,624	2,607
Merger related and restructuring expenses	—	110	562
Other	11,077	11,643	10,183
Total noninterest expense	120,890	113,150	106,290
Income before income tax expense	45,459	36,226	54,908
Income tax expense	9,318	7,633	11,886
Net income	$36,141	$28,593	$43,022
Earnings per common share:
Basic	$2.16	$1.70	$2.57
Diluted	$2.14	$1.69	$2.55
Weighted average common shares outstanding:
Basic	16,768,956	16,805,068	16,740,450
Diluted	16,875,456	16,911,185	16,871,369

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.