SmartFinancial(SMBK) - 2021 Q2 - Earnings Call Presentation

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]