Financial Performance - SmartFinancial Inc reported net income of $8.8 million and operating earnings of $9.1 million for Q2 2021[5] - The company's ROAA (Return on Average Assets) was 0.98%, while the operating ROAA reached 1.01%[5] - ROATCE (Return on Average Tangible Common Equity) stood at 12.54%, with an operating ROATCE of 12.93%[5] - The efficiency ratio was 64.9%, and the operating efficiency ratio was 63.5%[5] Balance Sheet - As of June 30, 2021, SmartFinancial had total assets of $3.7 billion[5] - Gross loans and leases amounted to $2.5 billion[5] - Total deposits reached $3.1 billion[5] - Shareholders' equity was $373.4 million, with tangible common equity (Non-GAAP) at $282.4 million[5] Asset Quality - The ratio of Non-Performing Assets (NPAs) to total assets was 0.18%[5] - The allowance for loan and lease losses represented 0.74% of total loans and leases[5] Expansion and Acquisition - SmartBank added a new commercial banking team in Auburn, Alabama, with over 50 years of combined experience[8] - The acquisition of Sevier County Bank (SCB) is progressing, with a projected systems conversion in October 2021[11] - Fountain Equipment Finance, a small ticket construction equipment finance company, was acquired and integrated, resulting in ~$53 million in net leases and a ~13bps increase in net interest margin during Q2 '21[12]

Financial Data and Key Metrics Changes - Operating earnings for Q2 2021 were reported at $9.1 million or $0.60 per share, marking a 25% increase compared to the prior year quarter [10][18] - Tangible book value (TBV) increased to $18.69, reflecting a 10% year-over-year growth [10][23] - Net interest income for the quarter was over $27 million, slightly higher than the previous year's $26.4 million [26] - The interest margin was reported at 3.29%, a decline of 19 basis points from the prior quarter [27] Business Line Data and Key Metrics Changes - Net organic loan growth was over $87 million, or 16% annualized, excluding PPP loans [10][20] - Deposit growth was solid, with an increase of over $90 million during Q2 [11][25] - Non-interest income increased by almost 50% from the prior year quarter, with a forecast of $5.5 million for Q3 [32][34] Market Data and Key Metrics Changes - The loan portfolio saw a diversification with a 16% annualized organic loan growth, particularly in the commercial real estate (CRE) sector, which grew to approximately 39% of total portfolio outstandings [37][38] - The bank's asset quality metrics improved, with a non-performing asset (NPA) ratio of 0.17%, down from 0.29% in Q1 2021 [40][41] Company Strategy and Development Direction - The company is focusing on organic growth through team lift-outs and market expansions, particularly in Alabama and the Gulf Coast region [13][56] - The acquisition of Sevier County Bank is on track for closing, with plans for integration and rebranding [14][15] - The company aims to leverage its capital effectively while exploring additional lift-out opportunities as a strategic focus [69][70] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's positioning and growth potential, citing strong market conditions and a robust loan pipeline [7][57] - The Southeast region is expected to continue experiencing growth, driven by population trends and economic recovery [53][54] Other Important Information - The company reported no need for a provision for loan losses in the current quarter, indicating strong credit quality [47] - The allowance for originated loans and leases, excluding PPP loans, was reported at 0.86% [48] Q&A Session Summary Question: What are the expected total loan balances by the end of the year excluding Sevier County? - The expected total loan balance is approximately $2.52 billion, not including Sevier County [62][64] Question: Is the lift-out strategy viewed as the go-forward plan for inorganic growth? - The company is always looking for opportunities, with a current focus on lift-outs rather than mergers and acquisitions [68][69] Question: How big was the loan portfolio managed by the Auburn team at their prior institution? - The Auburn team managed around $0.5 billion in total loans at their previous institution [82] Question: What is the outlook for fees in the back half of the year? - The forecast for non-interest income in Q3 is around $5.5 million, similar to Q4 expectations [101][102] Question: What is the appetite for buybacks in the back half of the year? - The company is in a good capital position but does not foresee heavy buybacks due to current valuations [103][104]

Table of Contents United States Securities and Exchange Commission Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 ☐ TRANSITION REPORT PURSUANT 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 or other j ...

| --- | --- | --- | --- | --- | |-------------------------------------------------------------------------------------------------------------------------------------------------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | INVESTOR CALL 1Q 2021 April 21, 2021, 10:00am Webcast: www.smartbank.com (Investor Relations) Audio Only: 888-317-6003 Confirmation #: 6293687 | | | | | | Miller Welborn Chairman of the Board Billy Carroll President & CEO | | | | | | | | | | | | | | ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 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) (State or other jurisdiction of incorporation or org ...

| --- | --- | --- | --- | --- | |----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | INVESTOR CALL 4Q 2020 January 20, 2021, 10:00am Webcast: www.smartbank.com (Investor Relations) Audio Only: 888-317-6003 Confirmation #: 0205038 Miller Welborn Chairman of the Board Billy Carro ...

| --- | --- | --- | --- | --- | |-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | INVESTOR CALL 2Q 2020 July 22, 2020, 10:00am Webcast: www.smartbank.com (Investor Relations) Audio Only: 888-317-6003 Confirmation #: 5925756 Miller Welborn Chairman of the Board Billy Carroll Pre ...

SmartFinancial, Inc. First Quarter 2020 Earnings Release April 29, 2020 Legal Disclaimer Forward-Looking Statements This presentation may contain statements that are based on management's current estimates or expectations of future events or future results, and that may be deemed to constitute forwardlooking statements as defined under the Private Securities Litigation Reform Act of 1995. These statements, including statements regarding the potential effects of the COVID-19 pandemic on the Company's busines ...

Financial Performance - SmartFinancial, Inc reported net operating earnings of $65 million for Q4 2019[6], up 10% from the previous year[18] - The company's ROAA was 112% for the quarter, with a net operating ROAA of 108%[6] - ROATCE reached 116% for the quarter, while the net operating ROATCE was 111%[6] - The efficiency ratio stood at 670%, and the operating efficiency ratio was 650%[6] Balance Sheet - Total assets amounted to $24 billion as of December 31, 2019[6] - Gross loans totaled $19 billion[6] - Deposits reached $20 billion[6] - Shareholders' equity and tangible common equity (Non-GAAP) were $3130 million and $2356 million, respectively[6] Asset Quality - Nonperforming assets (NPAs) represented 021% of total assets[7] - Net charge-offs to average loans were 001%[45] Acquisition of Progressive Financial Group - SmartFinancial announced the acquisition of Progressive Savings Bank, which will make it the 7th largest community bank by deposits in Tennessee, with total consolidated assets exceeding $27 billion[58]