SMARTFINANCIAL INC.

For the period ended Jul 21, 2025. Filed Jul 21, 2025.

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A notice of a major event between regular reports, such as results, a deal or a change of executives. It is often the first formal record of the news.

Jul 21, 2025 · Filed Jul 21, 2025

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SMBK$47.73-0.5%Stored close · as of Nov 6, 2026

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EX-99.1 · YIELD ANALYSIS

YIELD ANALYSIS


· · Three Months Ended
· · June 30, 2025 · · March 31, 2025 · · June 30, 2024
· Average · · · Yield/ · Average · · · Yield/ · Average · · Yield/
· · Balance · · Interest · · Cost · · Balance · · Interest · · Cost · · Balance · · Interest · · Cost
Assets: · · · · · · ·
Loans and leases, including fees1	$4,050,485	$61,294	6.07%	$3,941,295	$58,008	5.97%	$3,504,265	$51,110	5.87%
Taxable securities	562,660	4,848	3.46%	555,914	4,775	3.48%	580,517	5,320	3.69%
Tax-exempt securities2	66,223	500	3.03%	63,085	448	2.88%	63,690	447	2.82%
Federal funds sold and other earning assets	275,647	3,161	4.60%	306,966	3,485	4.60%	346,459	4,759	5.52%
Total interest-earning assets	4,955,015	69,803	5.65%	4,867,260	66,716	5.56%	4,494,931	61,636	5.52%
Noninterest-earning assets	405,804			405,860			383,697
Total assets	$5,360,819			$5,273,120			$4,878,628

Liabilities and Shareholders’ Equity:
Interest-bearing demand deposits	$835,394	3,785	1.82%	$846,823	3,743	1.79%	$983,433	5,950	2.43%
Money market and savings deposits	2,104,236	15,762	3.00%	2,064,134	15,065	2.96%	1,909,125	16,529	3.48%
Time deposits	914,658	8,754	3.84%	880,933	8,527	3.93%	528,985	4,960	3.77%
Total interest-bearing deposits	3,854,288	28,301	2.95%	3,791,890	27,335	2.92%	3,421,543	27,439	3.23%
Borrowings	7,783	70	3.61%	8,220	70	3.45%	12,684	148	4.69%
Subordinated debt	39,714	739	7.46%	39,692	733	7.49%	42,129	884	8.44%
Total interest-bearing liabilities	3,901,785	29,110	2.99%	3,839,802	28,138	2.97%	3,476,356	28,471	3.29%
Noninterest-bearing deposits	898,428			884,078			888,693
Other liabilities	49,539			51,260			47,208
Total liabilities	4,849,752			4,775,140			4,412,257
Shareholders' equity	511,067			497,980			466,371
Total liabilities and shareholders' equity	$5,360,819			$5,273,120			$4,878,628

Net interest income, taxable equivalent		$40,693			$38,578			$33,165
Interest rate spread			2.66%			2.59%			2.22%
Tax equivalent net interest margin			3.29%			3.21%			2.97%

Percentage of average interest-earning assets to average interest-bearing liabilities			126.99%			126.76%			129.30%
Percentage of average equity to average assets			9.53%			9.44%			9.56%

1 Yields computed on tax-exempt loans on a tax equivalent basis include $245 thousand, $246 thousand, and $257 thousand of taxable equivalent income for the quarters ended June 30, 2025, March 31, 2025, and June 30, 2024, respectively.

2 Yields computed on tax-exempt instruments on a tax equivalent basis include $105 thousand, $94 thousand, and $94 thousand of taxable equivalent income for the quarters ended June 30, 2025, March 31, 2025, and June 30, 2024, respectively.

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