Headquartered in Knoxville, TN Fiscal year ends December NASDAQ: SMBK smartbank.com
SmartFinancial, Inc. (NYSE: SMBK) is the bank holding company for SmartBank, a full-service commercial bank founded in 2007 with 43 branches across Tennessee, Alabama, Florida, and Georgia. SmartBank provides commercial banking, treasury management, wealth and private banking, mortgage banking, equipment finance (through Fountain Equipment Finance), and dealer floor plan lending services. The company has approximately $6.3 billion in total assets, $4.9 billion in total loans, and $5.6 billion in total deposits. SmartFinancial has grown through a combination of strategic acquisitions and organic expansion, including de novo market entries across the southeastern United States, targeting attractive markets experiencing population growth. The company's diversified revenue streams include investment services, insurance commissions, interchange fees, and mortgage banking alongside its core commercial banking operations. Updated
A $2.6 million tax benefit from purchased transferable energy tax credits did much of the work behind the 14.6% EPS beat, so the quality of the quarter rests on the $174 million of organic loan and lease growth instead. Net interest margin compressed 7 basis points to 3.45% as deposit costs climbed, and revenue landed a hair under consensus.
267 companies report next week, and Monday alone stacks regional banks, steel and mortgage REITs into one session. Cleveland-Cliffs and Fifth Third go before the open, with Steel Dynamics and AGNC after the close, setting the credit and industrial tone for the rest of the week.
SmartFinancial, Inc. (NYSE: SMBK) is the bank holding company for SmartBank, a full-service commercial bank founded in 2007 with 43 branches across Tennessee, Alabama, Florida, and Georgia.
The Wall Street consensus 12-month price target for SMBK is $52.38.