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 ...

Financial Data and Key Metrics Changes - The company reported a net income of $9.4 million for the quarter, or $0.55 per diluted share, with operating income at $8.4 million or $0.49 per diluted share [46] - Total revenue exceeded $40 million, with net interest income continuing to expand [51] - The tangible book value increased to $21.12 per share, with a consolidated TCE ratio ending at 7.4% [49][59] Business Line Data and Key Metrics Changes - Mortgage revenue is projected to increase by 15%, with a shift towards a secondary market, expecting a 50% mix by mid-2024 [3] - Loan growth was reported at $34 million, slightly below forecasts due to unexpected payoffs, but production pipelines remain healthy [52] - Noninterest income was lower than forecasted at $7 million, primarily due to slower capital markets revenue and reduced interchange fees [58] Market Data and Key Metrics Changes - The company experienced deposit growth of over $126 million, or almost 12% annualized, resulting in a loan to deposit ratio of 79% [54] - Interest-bearing deposit costs increased to 3.16%, with a weighted average cost of new deposit production at 3.79% [54] - The company maintained a strong liquidity position, covering uninsured deposits at 1.4 times [51] Company Strategy and Development Direction - The company is focused on gaining operating leverage and is optimistic about future growth, particularly in the South where population growth is strong [53] - Share repurchase programs are anticipated to resume as the stock is viewed as undervalued [59][62] - The company is strategically moving its interest rate sensitivity to a more neutral position to adapt to economic uncertainties [57] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the operating environment, noting that loan growth excluding payoffs would have exceeded mid-single digit growth guidance [56] - The company is positioned to handle a higher interest rate environment and is focused on leveraging investments made in previous years [61] - Management highlighted the importance of maintaining credit quality and the potential for margin expansion in the second half of 2024 [57][61] Other Important Information - The company is actively evaluating strategic opportunities for growth, including potential M&A, but is currently focused on share buybacks due to market conditions [10][39] - The company has added new revenue producers in various regions, enhancing its growth potential [61] Q&A Session Summary Question: What are the drivers behind the deposit growth this quarter? - Management attributed the deposit growth to new business relationships and the acquisition of large corporate accounts, as well as growth in existing accounts [70][71] Question: What is the yield on the $61 million of securities maturing this quarter? - The yield on the $61 million of securities maturing is 2.1% [77] Question: Is the company still targeting a 1% ROA and a $50 million revenue run rate in the second half of 2025? - Management confirmed that the target for a 1% ROA and a $50 million revenue run rate remains in place [79]

Financial Performance Highlights - SmartFinancial reported diluted operating earnings per share of $0.49 for 1Q24[31], compared to $0.68 in 1Q23[31], a decrease of 27%[142] - The operating return on average assets was 0.69% in 1Q24[31], down from 0.97% in 1Q23[31] - Tangible book value per share grew to $21.12 in 1Q24[31], a 7% increase from $19.66 in 1Q23[31] - Total assets reached $5 Billion[31,41] Loan and Deposit Portfolio - The loan to deposit ratio is 79%[31,75] - Loans HFI (Held for Investment) totaled $4.394 Billion in 1Q24[15,22] - Total deposits amounted to $4.394 Billion in 1Q24[15,22] - Fixed rate loans account for $2 Billion, while variable rate loans account for $1.4 Billion[14] Liquidity and Interest Rate Sensitivity - The company has $1.5 Billion in untapped liquidity sources[100] - $884 Million in short-term variable rate loans are resetting within 1-3 months[106] - $90 Million in fixed rate loans yielding 5.54% are maturing by the end of 2024[12]

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 ...

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 September 30, 2023 ☐ 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 (Sta ...

SmartFinancial, Inc. (NYSE:SMBK) Q3 2023 Earnings Call Transcript October 24, 2023 10:00 AM ET Company Participants Nate Strall - Director, Corporate Strategy Miller Welborn - Chairman Billy Carroll - President & Chief Executive Officer Rhett Jordan - Chief Credit Officer Ron Gorczynski - Chief Financial Officer Conference Call Participants Thomas Wendler - Stephens Stephen Scouten - Piper Sander Will Jones - KBW Kevin Fitzsimmons - D.A. Davidson Steve Moss - Raymond James Feddie Strickland - Janney Montgom ...

Financial Highlights - Total loans reached $34 billion as of 6/30/23[1] - Total deposits amounted to $42 billion as of 6/30/23[1] - The company has 42 total branches[1] - Loan to Deposits Ratio of 80%[27] - Securities Detail: $709 Million Book Value[26] Market and Growth - Legacy Markets have $207 billion in total deposits[4] - Expanding Markets have $70 billion in total deposits[4] - Legacy Markets total population is 60 million[4] - Expanding Markets total population is 28 million[4] - Legacy Markets median income is $64 thousand[4] - The company's loan portfolio has shown strong organic growth[12] - Total assets reached $48 Billion[99] Loan Portfolio - Fixed Rate Loans repricing schedule for 4Q23 is $30 million with a weighted average yield of 539%[36] - Adjustable Rate Loans repricing schedule for 4Q23 is $18 million with a weighted average yield of 593%[36]