Core Viewpoint - SmartFinancial, Inc. reported a net income of $8.0 million for Q2 2024, reflecting a decrease from $8.8 million in Q2 2023 and $9.4 million in Q1 2024, with operating earnings of $7.8 million [5][22]. Financial Performance - Net income for Q2 2024 was $8.0 million, or $0.48 per diluted share, compared to $8.8 million, or $0.52 per diluted share in Q2 2023 [5]. - Operating earnings for Q2 2024 were $7.8 million, or $0.46 per diluted share, down from $8.8 million, or $0.52 per diluted share in Q2 2023 [5]. - Noninterest income decreased to $7.6 million in Q2 2024 from $8.4 million in the prior quarter, primarily due to a lack of significant gains from asset sales [29][30]. Balance Sheet Highlights - Total assets increased to $4.89 billion as of June 30, 2024, up from $4.83 billion at the end of 2023, driven by a $129.7 million increase in loans and leases [14][34]. - Total liabilities rose to $4.42 billion from $4.37 billion at the end of 2023, with organic deposit growth contributing to this increase [33][34]. - Shareholders' equity reached $472.5 million, an increase of $12.6 million from December 31, 2023, primarily due to net income [15][34]. Credit Quality - The allowance for credit losses was $34.7 million, representing 0.97% of total loans and leases as of June 30, 2024, slightly down from 0.98% in the previous quarter [24]. - Nonperforming loans and leases increased to $6.6 million, with a nonperforming loans ratio of 0.19% as of June 30, 2024 [29]. Operational Metrics - The tax equivalent net interest margin improved to 2.97% in Q2 2024 from 2.85% in Q1 2024, aided by higher yields on interest-earning assets [23]. - Average interest-earning assets remained stable at approximately $4.5 billion, with a slight increase in average loans and leases [8]. Growth Strategy - The company reported an 11% annualized growth in loans during the quarter, indicating strong demand and effective utilization of liquidity [22]. - Tangible book value per share increased by 10% on an annualized basis quarter-over-quarter, reflecting solid growth in operating revenue [22].

KNOXVILLE, Tenn., July 22, 2024 (GLOBE NEWSWIRE) -- SmartFinancial, Inc. ("SmartFinancial" or the "Company"; NYSE: SMBK), today announced net income of $8.0 million, or $0.48 per diluted common share, for the second quarter of 2024, compared to net income of $8.8 million, or $0.52 per diluted common share, for the second quarter of 2023, and compared to prior quarter net income of $9.4 million, or $0.55 per diluted common share. Operating earnings1, which excludes non-recurring income, net of tax adjustment ...

About SmartFinancial, Inc. Billy Carroll President and Chief Executive Officer SmartFinancial, Inc. Email: billy.carroll@smartbank.com Phone: 865.868.0613 SmartFinancial plans to issue its earnings release for the second quarter of 2024 on Monday, July 22, 2024, and will host a conference call on Tuesday, July 23, 2024, at 10:00 a.m. ET. To access this interactive teleconference, dial (833) 470-1428 or (404) 975-4839 and enter the access code, 533803. A replay of the conference call will be available throug ...

Conference call materials (earnings release & conference call presentation) will be published on the company's webpage located at http://www.smartfinancialinc.com/CorporateProfile, at 9:00 a.m. ET prior to the morning of the conference call. Investor Contacts SmartFinancial plans to issue its earnings release for the second quarter of 2024 on Monday, July 22, 2024, and will host a conference call on Tuesday, July 23, 2024, at 10:00 a.m. ET. To access this interactive teleconference, dial (833) 470-1428 or ( ...

Table of Contents United States Securities and Exchange Commission Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File Number: 001-37661 (Exact name of registrant as specified in its charter) Tennessee 62-1173944 (State o ...

SmartFinancial, Inc. (NYSE:SMBK) Q1 2024 Earnings Conference Call April 23, 2024 10:00 AM ET Company Participants Nate Strall - Head of Investor Relations Miller Welborn - Chairman Billy Carroll - President and Chief Executive Officer Rhett Jordan - Executive VP and Chief Credit Officer of SmartBank Ron Gorczynski - Executive Vice President, Chief Financial Officer Conference Call Participants Will Jones - KBW Thomas Wendler - Stephens Feddie Strickland - Janney Montgomery Steve Moss - Raymond James Operato ...

Exhibit 99.1 1Q 2024 SmartFinancial Announces Results for the First Quarter 2024 KNOXVILLE, TN – April 22, 2024 - SmartFinancial, Inc. ("SmartFinancial" or the "Company"; NYSE: SMBK), today announced net income of $9.4 million, or $0.55 per diluted common share, for the first quarter of 2024, compared to net income of $11.5 million, or $0.68 per diluted common share, for the first quarter of 2023, and compared to prior quarter net income of $6.2 million, or $0.37 per diluted common share. Operating earnings ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For transition period from __________ to __________ Commission File Number: 001-37661 (Exact name of registrant as specified in its charter) Tennessee 62-1173944 (State or other jurisdict ...

SmartFinancial, Inc. (NYSE:SMBK) Q4 2023 Earnings Conference Call January 23, 2024 10:00 AM ET Company Participants Nate Strall - Vice President, Director of Strategy and Corporate Development Miller Welborn - Chairman Billy Carroll - President and Chief Executive Officer Rhett Jordan - Chief Credit Officer Ron Gorczynski - Executive Vice President, Chief Financial Officer Conference Call Participants Stephen Scouten - Piper Sandler Matt Olney - Stephens Feddie Strickland - Janney Montgomery Brett Rabatin - ...

| --- | --- | --- | --- | --- | |-----------------------------------------------------------------------------------------------------------------|-------|-------|-------|-------| | | | | | | | | | | | | | INVESTOR CALL | | | | | | 4Q 2023 January 23, 2024, 10:00am ET Webcast: www.smartbank.com (Investor Relations) Audio Only: 1-833-470-1428 | | | | | | Access Code: 197280 Miller Welborn Chairman of the Board Billy Carroll President & CEO Ron Gorczynski CFO | | | | | | | | | | | | | | | | | DISCLOSURES Forw ...