Annual Income Statements for SmartFinancial
This table shows SmartFinancial's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.
Quarterly Income Statements for SmartFinancial
This table shows SmartFinancial's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Net Income / (Loss) Attributable to Common Shareholders |
|
12 |
13 |
12 |
8.84 |
2.07 |
6.19 |
9.36 |
8.00 |
9.14 |
9.64 |
Consolidated Net Income / (Loss) |
|
12 |
13 |
12 |
8.84 |
2.07 |
6.19 |
9.36 |
8.00 |
9.14 |
9.64 |
Net Income / (Loss) Continuing Operations |
|
12 |
13 |
12 |
8.84 |
2.07 |
6.19 |
9.36 |
8.00 |
9.14 |
9.64 |
Total Pre-Tax Income |
|
15 |
17 |
15 |
11 |
2.39 |
7.83 |
12 |
10 |
11 |
12 |
Total Revenue |
|
43 |
45 |
43 |
39 |
32 |
39 |
40 |
40 |
44 |
47 |
Net Interest Income / (Expense) |
|
37 |
38 |
36 |
32 |
31 |
32 |
32 |
33 |
35 |
38 |
Total Interest Income |
|
42 |
47 |
53 |
52 |
55 |
57 |
60 |
61 |
64 |
66 |
Loans and Leases Interest Income |
|
35 |
40 |
45 |
45 |
48 |
49 |
50 |
51 |
55 |
58 |
Investment Securities Interest Income |
|
3.70 |
4.13 |
4.00 |
4.69 |
4.69 |
4.70 |
4.90 |
5.67 |
5.58 |
5.40 |
Other Interest Income |
|
3.47 |
3.10 |
4.45 |
1.96 |
3.05 |
4.03 |
4.86 |
4.76 |
3.64 |
2.74 |
Total Interest Expense |
|
5.59 |
9.70 |
17 |
21 |
24 |
26 |
28 |
28 |
29 |
28 |
Deposits Interest Expense |
|
4.87 |
8.84 |
16 |
20 |
23 |
25 |
27 |
27 |
27 |
27 |
Long-Term Debt Interest Expense |
|
0.72 |
0.86 |
0.85 |
0.97 |
0.84 |
1.05 |
1.03 |
1.03 |
1.57 |
0.88 |
Total Non-Interest Income |
|
6.25 |
7.13 |
6.93 |
7.13 |
0.69 |
7.58 |
8.38 |
7.60 |
9.14 |
9.03 |
Service Charges on Deposit Accounts |
|
1.61 |
1.48 |
1.45 |
1.66 |
1.74 |
1.67 |
1.61 |
1.69 |
1.78 |
1.78 |
Other Service Charges |
|
3.42 |
4.47 |
4.30 |
3.84 |
3.99 |
4.34 |
5.11 |
4.26 |
5.07 |
5.26 |
Investment Banking Income |
|
1.05 |
0.96 |
1.01 |
1.30 |
1.46 |
1.34 |
1.38 |
1.30 |
1.88 |
1.38 |
Other Non-Interest Income |
|
- |
- |
0.17 |
0.33 |
0.31 |
0.23 |
0.28 |
0.35 |
0.41 |
0.54 |
Provision for Credit Losses |
|
0.97 |
0.79 |
0.55 |
0.11 |
0.80 |
1.57 |
-0.44 |
0.88 |
2.58 |
2.14 |
Total Non-Interest Expense |
|
27 |
27 |
28 |
27 |
29 |
30 |
29 |
29 |
31 |
32 |
Salaries and Employee Benefits |
|
16 |
16 |
17 |
16 |
17 |
16 |
17 |
17 |
18 |
20 |
Net Occupancy & Equipment Expense |
|
5.04 |
5.11 |
5.37 |
5.55 |
5.93 |
5.84 |
5.86 |
5.78 |
5.94 |
5.97 |
Marketing Expense |
|
0.29 |
0.31 |
0.36 |
0.31 |
0.35 |
0.34 |
0.30 |
0.30 |
0.33 |
0.40 |
Property & Liability Insurance Claims |
|
0.71 |
0.65 |
0.54 |
0.88 |
0.83 |
0.92 |
0.92 |
0.83 |
0.83 |
0.83 |
Other Operating Expenses |
|
4.14 |
4.32 |
3.86 |
4.06 |
3.88 |
5.69 |
4.22 |
4.44 |
4.70 |
4.75 |
Amortization Expense |
|
0.65 |
0.69 |
0.66 |
0.68 |
0.65 |
0.64 |
0.61 |
0.61 |
0.60 |
0.60 |
Income Tax Expense |
|
3.21 |
3.53 |
3.33 |
2.35 |
0.32 |
1.64 |
2.63 |
2.33 |
1.61 |
2.75 |
Basic Earnings per Share |
|
$0.69 |
$0.78 |
$0.69 |
$0.53 |
$0.12 |
$0.36 |
$0.56 |
$0.48 |
$0.55 |
$0.57 |
Weighted Average Basic Shares Outstanding |
|
16.75M |
16.74M |
16.79M |
16.81M |
16.81M |
16.81M |
16.85M |
16.77M |
16.73M |
16.77M |
Diluted Earnings per Share |
|
$0.68 |
$0.77 |
$0.68 |
$0.52 |
$0.12 |
$0.37 |
$0.55 |
$0.48 |
$0.54 |
$0.57 |
Weighted Average Diluted Shares Outstanding |
|
16.87M |
16.87M |
16.90M |
16.90M |
16.92M |
16.91M |
16.93M |
16.85M |
16.84M |
16.88M |
Weighted Average Basic & Diluted Shares Outstanding |
|
16.89M |
17.00M |
17.00M |
17.00M |
16.99M |
17.06M |
17.06M |
16.92M |
16.93M |
17.02M |
Annual Cash Flow Statements for SmartFinancial
This table details how cash moves in and out of SmartFinancial's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.
Metric |
2022 |
2023 |
2024 |
Net Change in Cash & Equivalents |
-779 |
86 |
35 |
Net Cash From Operating Activities |
57 |
40 |
53 |
Net Cash From Continuing Operating Activities |
57 |
40 |
53 |
Net Income / (Loss) Continuing Operations |
43 |
29 |
36 |
Consolidated Net Income / (Loss) |
43 |
29 |
36 |
Provision For Loan Losses |
4.02 |
3.03 |
5.15 |
Depreciation Expense |
10 |
11 |
8.99 |
Amortization Expense |
0.45 |
2.62 |
2.43 |
Non-Cash Adjustments to Reconcile Net Income |
1.94 |
4.93 |
-3.03 |
Changes in Operating Assets and Liabilities, net |
-2.67 |
-10 |
3.02 |
Net Cash From Investing Activities |
-841 |
-135 |
-420 |
Net Cash From Continuing Investing Activities |
-841 |
-135 |
-420 |
Purchase of Property, Leasehold Improvements and Equipment |
-12 |
-6.27 |
-6.41 |
Purchase of Investment Securities |
-906 |
-345 |
-638 |
Sale of Property, Leasehold Improvements and Equipment |
1.46 |
0.68 |
4.70 |
Sale and/or Maturity of Investments |
81 |
215 |
220 |
Other Investing Activities, net |
-4.88 |
0.00 |
0.00 |
Net Cash From Financing Activities |
5.37 |
181 |
403 |
Net Cash From Continuing Financing Activities |
5.37 |
181 |
403 |
Net Change in Deposits |
56 |
191 |
419 |
Issuance of Debt |
31 |
26 |
160 |
Issuance of Common Equity |
0.40 |
0.17 |
0.07 |
Repayment of Debt |
-76 |
-31 |
-167 |
Repurchase of Common Equity |
0.00 |
0.00 |
-2.97 |
Payment of Dividends |
-4.72 |
-5.43 |
-5.42 |
Other Financing Activities, Net |
-0.52 |
0.25 |
-1.05 |
Cash Interest Paid |
21 |
85 |
114 |
Cash Income Taxes Paid |
12 |
9.35 |
8.77 |
Quarterly Cash Flow Statements for SmartFinancial
This table details how cash moves in and out of SmartFinancial's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Net Change in Cash & Equivalents |
|
-112 |
-277 |
41 |
-68 |
161 |
-48 |
126 |
-135 |
-150 |
195 |
Net Cash From Operating Activities |
|
13 |
15 |
11 |
9.98 |
6.68 |
12 |
7.08 |
17 |
12 |
17 |
Net Cash From Continuing Operating Activities |
|
13 |
15 |
11 |
9.98 |
6.68 |
12 |
7.08 |
17 |
12 |
17 |
Net Income / (Loss) Continuing Operations |
|
12 |
13 |
12 |
8.84 |
2.07 |
6.19 |
9.36 |
8.00 |
9.14 |
9.64 |
Consolidated Net Income / (Loss) |
|
12 |
13 |
12 |
8.84 |
2.07 |
6.19 |
9.36 |
8.00 |
9.14 |
9.64 |
Provision For Loan Losses |
|
0.97 |
0.79 |
0.55 |
0.11 |
0.80 |
1.57 |
-0.44 |
0.88 |
2.58 |
2.14 |
Depreciation Expense |
|
2.56 |
2.56 |
2.61 |
2.89 |
2.87 |
2.50 |
2.46 |
2.21 |
2.23 |
2.09 |
Amortization Expense |
|
-0.11 |
-0.71 |
0.66 |
0.68 |
0.65 |
0.64 |
0.61 |
0.61 |
0.60 |
0.60 |
Non-Cash Adjustments to Reconcile Net Income |
|
-1.50 |
0.66 |
1.98 |
0.55 |
4.89 |
-2.49 |
-0.38 |
1.47 |
-3.25 |
-0.87 |
Changes in Operating Assets and Liabilities, net |
|
-0.29 |
-1.10 |
-5.95 |
-3.09 |
-4.59 |
3.29 |
-4.53 |
3.37 |
1.10 |
3.09 |
Net Cash From Investing Activities |
|
-128 |
-111 |
-97 |
-46 |
86 |
-79 |
-3.02 |
-73 |
-161 |
-184 |
Net Cash From Continuing Investing Activities |
|
-128 |
-111 |
-97 |
-46 |
86 |
-79 |
-3.02 |
-73 |
-161 |
-184 |
Purchase of Property, Leasehold Improvements and Equipment |
|
-3.33 |
-1.80 |
-1.56 |
-1.50 |
-0.96 |
-2.25 |
-2.91 |
-1.10 |
-1.06 |
-1.33 |
Purchase of Investment Securities |
|
-133 |
-156 |
-106 |
-58 |
-79 |
-102 |
-115 |
-136 |
-175 |
-211 |
Sale and/or Maturity of Investments |
|
13 |
46 |
9.66 |
14 |
166 |
25 |
112 |
63 |
16 |
28 |
Net Cash From Financing Activities |
|
3.37 |
-181 |
126 |
-32 |
69 |
19 |
122 |
-79 |
-1.79 |
362 |
Net Cash From Continuing Financing Activities |
|
3.37 |
-181 |
126 |
-32 |
69 |
19 |
122 |
-79 |
-1.71 |
362 |
Net Change in Deposits |
|
-1.13 |
-203 |
152 |
-30 |
47 |
21 |
126 |
-77 |
5.85 |
364 |
Issuance of Debt |
|
5.00 |
26 |
- |
- |
- |
0.28 |
- |
- |
151 |
5.10 |
Repayment of Debt |
|
- |
-1.30 |
-25 |
-28 |
22 |
-0.28 |
-2.00 |
-2.00 |
-157 |
-6.10 |
Payment of Dividends |
|
-1.18 |
-1.18 |
-1.35 |
-1.36 |
-1.36 |
-1.36 |
-1.36 |
-1.35 |
-1.35 |
-1.35 |
Other Financing Activities, Net |
|
0.87 |
-1.35 |
-0.73 |
0.95 |
1.12 |
-1.10 |
-1.36 |
1.01 |
-0.74 |
0.03 |
Cash Interest Paid |
|
6.36 |
8.73 |
17 |
19 |
24 |
25 |
29 |
28 |
28 |
28 |
Cash Income Taxes Paid |
|
4.62 |
3.95 |
0.02 |
8.56 |
0.83 |
-0.06 |
0.01 |
4.29 |
2.43 |
2.05 |
Annual Balance Sheets for SmartFinancial
This table presents SmartFinancial's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.
Metric |
2022 |
2023 |
2024 |
Total Assets |
4,637 |
4,829 |
5,276 |
Cash and Due from Banks |
44 |
62 |
97 |
Federal Funds Sold |
15 |
57 |
14 |
Interest Bearing Deposits at Other Banks |
207 |
233 |
277 |
Trading Account Securities |
770 |
281 |
127 |
Loans and Leases, Net of Allowance |
3,230 |
3,409 |
3,869 |
Loans and Leases |
3,254 |
3,444 |
3,906 |
Allowance for Loan and Lease Losses |
23 |
35 |
37 |
Loans Held for Sale |
1.75 |
4.42 |
6.00 |
Premises and Equipment, Net |
93 |
93 |
91 |
Intangible Assets |
110 |
107 |
105 |
Other Assets |
167 |
582 |
691 |
Total Liabilities & Shareholders' Equity |
4,637 |
4,829 |
5,276 |
Total Liabilities |
4,205 |
4,370 |
4,784 |
Non-Interest Bearing Deposits |
1,072 |
898 |
966 |
Interest Bearing Deposits |
3,005 |
3,370 |
3,721 |
Long-Term Debt |
84 |
55 |
48 |
Other Long-Term Liabilities |
44 |
46 |
50 |
Total Equity & Noncontrolling Interests |
432 |
460 |
491 |
Total Preferred & Common Equity |
432 |
460 |
491 |
Total Common Equity |
432 |
460 |
491 |
Common Stock |
311 |
313 |
311 |
Retained Earnings |
157 |
173 |
204 |
Accumulated Other Comprehensive Income / (Loss) |
-35 |
-26 |
-24 |
Noncontrolling Interest |
- |
0.00 |
0.11 |
Quarterly Balance Sheets for SmartFinancial
This table presents SmartFinancial's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Total Assets |
|
4,797 |
4,770 |
4,746 |
4,797 |
4,955 |
4,891 |
4,909 |
Cash and Due from Banks |
|
46 |
342 |
38 |
63 |
48 |
60 |
65 |
Federal Funds Sold |
|
68 |
67 |
2.61 |
40 |
86 |
63 |
2.51 |
Interest Bearing Deposits at Other Banks |
|
428 |
205 |
199 |
298 |
344 |
220 |
125 |
Trading Account Securities |
|
807 |
845 |
824 |
667 |
655 |
630 |
629 |
Loans and Leases, Net of Allowance |
|
3,076 |
3,250 |
3,305 |
3,345 |
3,443 |
3,539 |
3,682 |
Loans and Leases |
|
3,099 |
3,282 |
3,338 |
3,379 |
3,478 |
3,574 |
3,717 |
Allowance for Loan and Lease Losses |
|
23 |
32 |
33 |
34 |
34 |
35 |
36 |
Loans Held for Sale |
|
2.74 |
- |
0.99 |
2.73 |
4.86 |
3.10 |
5.80 |
Premises and Equipment, Net |
|
92 |
92 |
92 |
92 |
93 |
91 |
91 |
Intangible Assets |
|
110 |
109 |
108 |
108 |
107 |
106 |
105 |
Other Assets |
|
166 |
148 |
176 |
182 |
175 |
179 |
203 |
Total Liabilities & Shareholders' Equity |
|
4,797 |
4,770 |
4,746 |
4,797 |
4,955 |
4,891 |
4,909 |
Total Liabilities |
|
4,382 |
3,320 |
4,301 |
4,351 |
4,488 |
4,419 |
4,420 |
Non-Interest Bearing Deposits |
|
1,186 |
990 |
1,003 |
924 |
907 |
903 |
864 |
Interest Bearing Deposits |
|
3,094 |
2,250 |
3,196 |
3,323 |
3,487 |
3,413 |
3,459 |
Long-Term Debt |
|
60 |
42 |
58 |
56 |
52 |
55 |
49 |
Other Long-Term Liabilities |
|
41 |
38 |
44 |
48 |
42 |
47 |
49 |
Commitments & Contingencies |
|
- |
- |
- |
- |
- |
0.00 |
0.00 |
Total Equity & Noncontrolling Interests |
|
415 |
443 |
445 |
447 |
467 |
472 |
489 |
Total Preferred & Common Equity |
|
415 |
443 |
445 |
447 |
467 |
472 |
489 |
Preferred Stock |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Total Common Equity |
|
415 |
443 |
445 |
447 |
467 |
472 |
489 |
Common Stock |
|
311 |
312 |
312 |
313 |
313 |
311 |
311 |
Retained Earnings |
|
145 |
160 |
168 |
168 |
181 |
188 |
196 |
Accumulated Other Comprehensive Income / (Loss) |
|
-41 |
-29 |
-35 |
-34 |
-27 |
-26 |
-17 |
Annual Metrics And Ratios for SmartFinancial
This table displays calculated financial ratios and metrics derived from SmartFinancial's official financial filings.
Metric |
2022 |
2023 |
2024 |
Growth Metrics |
- |
- |
- |
Revenue Growth |
20.29% |
-7.75% |
12.53% |
EBITDA Growth |
22.64% |
-23.96% |
14.38% |
EBIT Growth |
23.89% |
-34.02% |
25.49% |
NOPAT Growth |
23.66% |
-33.54% |
26.40% |
Net Income Growth |
23.66% |
-33.54% |
26.40% |
EPS Growth |
14.86% |
-33.73% |
26.63% |
Operating Cash Flow Growth |
22.98% |
-30.07% |
32.69% |
Free Cash Flow Firm Growth |
204.15% |
-96.97% |
-60.06% |
Invested Capital Growth |
-64.59% |
-0.24% |
4.70% |
Revenue Q/Q Growth |
5.14% |
-3.57% |
4.71% |
EBITDA Q/Q Growth |
2.55% |
-12.98% |
7.78% |
EBIT Q/Q Growth |
17.34% |
-19.37% |
11.14% |
NOPAT Q/Q Growth |
17.31% |
-19.25% |
10.55% |
Net Income Q/Q Growth |
17.31% |
-19.25% |
10.55% |
EPS Q/Q Growth |
18.06% |
-19.14% |
10.31% |
Operating Cash Flow Q/Q Growth |
34.54% |
-8.11% |
10.43% |
Free Cash Flow Firm Q/Q Growth |
742.27% |
288.31% |
655.90% |
Invested Capital Q/Q Growth |
8.67% |
2.43% |
0.30% |
Profitability Metrics |
- |
- |
- |
EBITDA Margin |
39.58% |
32.63% |
33.16% |
EBIT Margin |
33.23% |
23.77% |
26.51% |
Profit (Net Income) Margin |
26.04% |
18.76% |
21.07% |
Tax Burden Percent |
78.35% |
78.93% |
79.50% |
Interest Burden Percent |
100.00% |
100.00% |
100.00% |
Effective Tax Rate |
21.65% |
21.07% |
20.50% |
Return on Invested Capital (ROIC) |
4.36% |
5.54% |
6.86% |
ROIC Less NNEP Spread (ROIC-NNEP) |
4.36% |
5.54% |
6.86% |
Return on Net Nonoperating Assets (RNNOA) |
5.63% |
0.86% |
0.74% |
Return on Equity (ROE) |
9.98% |
6.41% |
7.60% |
Cash Return on Invested Capital (CROIC) |
99.76% |
5.79% |
2.26% |
Operating Return on Assets (OROA) |
1.19% |
0.77% |
0.90% |
Return on Assets (ROA) |
0.93% |
0.60% |
0.72% |
Return on Common Equity (ROCE) |
9.98% |
6.41% |
7.60% |
Return on Equity Simple (ROE_SIMPLE) |
9.95% |
6.22% |
7.36% |
Net Operating Profit after Tax (NOPAT) |
43 |
29 |
36 |
NOPAT Margin |
26.04% |
18.76% |
21.07% |
Net Nonoperating Expense Percent (NNEP) |
0.00% |
0.00% |
0.00% |
SG&A Expenses to Revenue |
50.86% |
58.91% |
56.54% |
Operating Expenses to Revenue |
64.33% |
74.24% |
70.49% |
Earnings before Interest and Taxes (EBIT) |
55 |
36 |
45 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
65 |
50 |
57 |
Valuation Ratios |
- |
- |
- |
Price to Book Value (P/BV) |
1.04 |
0.89 |
1.06 |
Price to Tangible Book Value (P/TBV) |
1.40 |
1.16 |
1.35 |
Price to Revenue (P/Rev) |
2.73 |
2.69 |
3.05 |
Price to Earnings (P/E) |
10.49 |
14.35 |
14.48 |
Dividend Yield |
1.31% |
1.33% |
1.04% |
Earnings Yield |
9.53% |
6.97% |
6.91% |
Enterprise Value to Invested Capital (EV/IC) |
0.52 |
0.22 |
0.34 |
Enterprise Value to Revenue (EV/Rev) |
1.63 |
0.74 |
1.07 |
Enterprise Value to EBITDA (EV/EBITDA) |
4.11 |
2.28 |
3.23 |
Enterprise Value to EBIT (EV/EBIT) |
4.90 |
3.12 |
4.04 |
Enterprise Value to NOPAT (EV/NOPAT) |
6.25 |
3.96 |
5.08 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
4.73 |
2.85 |
3.48 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
0.27 |
3.79 |
15.39 |
Leverage & Solvency |
- |
- |
- |
Debt to Equity |
0.19 |
0.12 |
0.10 |
Long-Term Debt to Equity |
0.19 |
0.12 |
0.10 |
Financial Leverage |
1.29 |
0.16 |
0.11 |
Leverage Ratio |
10.73 |
10.61 |
10.62 |
Compound Leverage Factor |
10.73 |
10.61 |
10.62 |
Debt to Total Capital |
16.24% |
10.71% |
8.87% |
Short-Term Debt to Total Capital |
0.00% |
0.00% |
0.00% |
Long-Term Debt to Total Capital |
16.24% |
10.71% |
8.87% |
Preferred Equity to Total Capital |
0.00% |
0.00% |
0.00% |
Noncontrolling Interests to Total Capital |
0.00% |
0.00% |
0.02% |
Common Equity to Total Capital |
83.76% |
89.29% |
91.11% |
Debt to EBITDA |
1.28 |
1.11 |
0.84 |
Net Debt to EBITDA |
-2.79 |
-5.97 |
-5.97 |
Long-Term Debt to EBITDA |
1.28 |
1.11 |
0.84 |
Debt to NOPAT |
1.95 |
1.93 |
1.32 |
Net Debt to NOPAT |
-4.24 |
-10.39 |
-9.40 |
Long-Term Debt to NOPAT |
1.95 |
1.93 |
1.32 |
Noncontrolling Interest Sharing Ratio |
0.00% |
0.00% |
0.01% |
Liquidity Ratios |
- |
- |
- |
Cash Flow Metrics |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
985 |
30 |
12 |
Operating Cash Flow to CapEx |
515.04% |
710.74% |
3,087.29% |
Free Cash Flow to Firm to Interest Expense |
46.16 |
0.34 |
0.10 |
Operating Cash Flow to Interest Expense |
2.66 |
0.45 |
0.46 |
Operating Cash Flow Less CapEx to Interest Expense |
2.15 |
0.39 |
0.45 |
Efficiency Ratios |
- |
- |
- |
Asset Turnover |
0.04 |
0.03 |
0.03 |
Fixed Asset Turnover |
1.85 |
1.64 |
1.86 |
Capital & Investment Metrics |
- |
- |
- |
Invested Capital |
516 |
515 |
539 |
Invested Capital Turnover |
0.17 |
0.30 |
0.33 |
Increase / (Decrease) in Invested Capital |
-942 |
-1.26 |
24 |
Enterprise Value (EV) |
269 |
113 |
184 |
Market Capitalization |
451 |
410 |
523 |
Book Value per Share |
$25.61 |
$27.06 |
$29.03 |
Tangible Book Value per Share |
$19.11 |
$20.76 |
$22.84 |
Total Capital |
516 |
515 |
539 |
Total Debt |
84 |
55 |
48 |
Total Long-Term Debt |
84 |
55 |
48 |
Net Debt |
-183 |
-297 |
-340 |
Capital Expenditures (CapEx) |
11 |
5.59 |
1.71 |
Net Nonoperating Expense (NNE) |
0.00 |
0.00 |
0.00 |
Net Nonoperating Obligations (NNO) |
84 |
55 |
48 |
Total Depreciation and Amortization (D&A) |
10 |
13 |
11 |
Earnings Adjustments |
- |
- |
- |
Adjusted Basic Earnings per Share |
$2.57 |
$1.70 |
$2.16 |
Adjusted Weighted Average Basic Shares Outstanding |
16.74M |
16.81M |
16.77M |
Adjusted Diluted Earnings per Share |
$2.55 |
$1.69 |
$2.14 |
Adjusted Weighted Average Diluted Shares Outstanding |
16.87M |
16.91M |
16.88M |
Adjusted Basic & Diluted Earnings per Share |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
17.00M |
17.06M |
17.02M |
Normalized Net Operating Profit after Tax (NOPAT) |
43 |
29 |
36 |
Normalized NOPAT Margin |
26.31% |
18.82% |
21.07% |
Pre Tax Income Margin |
33.23% |
23.77% |
26.51% |
Debt Service Ratios |
- |
- |
- |
EBIT to Interest Expense |
2.57 |
0.41 |
0.40 |
NOPAT to Interest Expense |
2.02 |
0.33 |
0.32 |
EBIT Less CapEx to Interest Expense |
2.06 |
0.35 |
0.38 |
NOPAT Less CapEx to Interest Expense |
1.50 |
0.26 |
0.30 |
Payout Ratios |
- |
- |
- |
Dividend Payout Ratio |
10.98% |
18.98% |
15.00% |
Augmented Payout Ratio |
10.98% |
18.98% |
23.21% |
Quarterly Metrics And Ratios for SmartFinancial
This table displays calculated financial ratios and metrics derived from SmartFinancial's official financial filings.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Revenue Growth |
|
17.08% |
22.03% |
15.25% |
-3.94% |
-26.21% |
-12.61% |
-6.54% |
4.43% |
39.35% |
19.74% |
EBITDA Growth |
|
41.53% |
9.68% |
33.79% |
-9.40% |
-65.70% |
-40.32% |
-16.80% |
-10.82% |
130.26% |
37.39% |
EBIT Growth |
|
20.61% |
96.41% |
41.15% |
-14.74% |
-83.83% |
-52.64% |
-19.15% |
-7.58% |
350.54% |
58.20% |
NOPAT Growth |
|
20.24% |
95.39% |
39.24% |
-13.50% |
-82.09% |
-52.40% |
-18.63% |
-9.43% |
342.19% |
55.74% |
Net Income Growth |
|
20.24% |
95.39% |
39.24% |
-13.50% |
-82.09% |
-52.40% |
-18.63% |
-9.43% |
342.19% |
55.74% |
EPS Growth |
|
11.48% |
102.63% |
38.78% |
-14.75% |
-82.35% |
-51.95% |
-19.12% |
-7.69% |
350.00% |
54.05% |
Operating Cash Flow Growth |
|
-8.32% |
2,310.78% |
6.17% |
-43.69% |
-49.29% |
-23.04% |
-37.68% |
65.84% |
85.58% |
42.51% |
Free Cash Flow Firm Growth |
|
-43.59% |
198.05% |
-22,303.83% |
-169.25% |
-127.95% |
-99.22% |
200.08% |
9.02% |
-0.17% |
-295.56% |
Invested Capital Growth |
|
-14.45% |
-64.59% |
199.12% |
5.78% |
5.83% |
-0.24% |
-65.22% |
4.96% |
6.93% |
4.70% |
Revenue Q/Q Growth |
|
6.62% |
4.14% |
-4.09% |
-9.79% |
-18.11% |
23.34% |
2.57% |
0.79% |
9.29% |
5.98% |
EBITDA Q/Q Growth |
|
5.64% |
6.93% |
-1.57% |
-18.52% |
-60.00% |
86.05% |
37.22% |
-12.66% |
3.27% |
11.01% |
EBIT Q/Q Growth |
|
12.50% |
12.06% |
-10.32% |
-24.59% |
-78.66% |
228.16% |
53.10% |
-13.80% |
4.03% |
15.23% |
NOPAT Q/Q Growth |
|
13.00% |
12.67% |
-11.57% |
-23.17% |
-76.61% |
199.47% |
51.18% |
-14.48% |
14.21% |
5.47% |
Net Income Q/Q Growth |
|
13.00% |
12.67% |
-11.57% |
-23.17% |
-76.61% |
199.47% |
51.18% |
-14.48% |
14.21% |
5.47% |
EPS Q/Q Growth |
|
11.48% |
13.24% |
-11.69% |
-23.53% |
-76.92% |
208.33% |
48.65% |
-12.73% |
12.50% |
5.56% |
Operating Cash Flow Q/Q Growth |
|
-25.63% |
15.47% |
-25.36% |
-12.15% |
-33.03% |
75.25% |
-39.56% |
133.79% |
-25.06% |
34.58% |
Free Cash Flow Firm Q/Q Growth |
|
241.48% |
940.16% |
-202.80% |
98.10% |
-37.80% |
129.06% |
13,078.32% |
-101.72% |
-51.72% |
43.27% |
Invested Capital Q/Q Growth |
|
0.04% |
8.67% |
188.91% |
-66.32% |
0.09% |
2.43% |
0.72% |
1.65% |
1.96% |
0.30% |
Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBITDA Margin |
|
40.03% |
41.10% |
42.19% |
38.11% |
18.61% |
28.07% |
37.56% |
32.54% |
30.75% |
32.21% |
EBIT Margin |
|
34.35% |
36.96% |
34.56% |
28.89% |
7.53% |
20.03% |
29.89% |
25.57% |
24.34% |
26.46% |
Profit (Net Income) Margin |
|
26.87% |
29.07% |
26.80% |
22.83% |
6.52% |
15.83% |
23.34% |
19.80% |
20.69% |
20.59% |
Tax Burden Percent |
|
78.24% |
78.66% |
77.56% |
79.02% |
86.63% |
79.05% |
78.06% |
77.44% |
85.02% |
77.82% |
Interest Burden Percent |
|
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
Effective Tax Rate |
|
21.76% |
21.34% |
22.44% |
20.98% |
13.37% |
20.95% |
21.94% |
22.56% |
14.98% |
22.18% |
Return on Invested Capital (ROIC) |
|
8.19% |
4.86% |
4.60% |
7.91% |
2.11% |
4.68% |
3.47% |
5.82% |
6.51% |
6.70% |
ROIC Less NNEP Spread (ROIC-NNEP) |
|
8.19% |
4.86% |
4.60% |
7.91% |
2.11% |
4.68% |
3.47% |
5.82% |
6.51% |
6.70% |
Return on Net Nonoperating Assets (RNNOA) |
|
1.87% |
6.28% |
6.01% |
1.02% |
0.29% |
0.73% |
4.20% |
0.71% |
0.73% |
0.73% |
Return on Equity (ROE) |
|
10.06% |
11.14% |
10.61% |
8.93% |
2.39% |
5.41% |
7.67% |
6.53% |
7.24% |
7.42% |
Cash Return on Invested Capital (CROIC) |
|
22.69% |
99.76% |
-95.13% |
3.57% |
1.57% |
5.79% |
99.42% |
0.13% |
-0.41% |
2.26% |
Operating Return on Assets (OROA) |
|
1.18% |
1.32% |
1.24% |
1.03% |
0.25% |
0.64% |
0.92% |
0.80% |
0.82% |
0.90% |
Return on Assets (ROA) |
|
0.92% |
1.04% |
0.97% |
0.81% |
0.21% |
0.51% |
0.72% |
0.62% |
0.70% |
0.70% |
Return on Common Equity (ROCE) |
|
10.06% |
11.14% |
10.61% |
8.93% |
2.39% |
5.41% |
7.67% |
6.53% |
7.24% |
7.42% |
Return on Equity Simple (ROE_SIMPLE) |
|
8.84% |
0.00% |
10.43% |
10.09% |
7.93% |
0.00% |
5.67% |
5.42% |
6.69% |
0.00% |
Net Operating Profit after Tax (NOPAT) |
|
12 |
13 |
12 |
8.84 |
2.07 |
6.19 |
9.36 |
8.00 |
9.14 |
9.64 |
NOPAT Margin |
|
26.87% |
29.07% |
26.80% |
22.83% |
6.52% |
15.83% |
23.34% |
19.80% |
20.69% |
20.59% |
Net Nonoperating Expense Percent (NNEP) |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
SG&A Expenses to Revenue |
|
50.38% |
48.74% |
52.36% |
56.34% |
72.74% |
57.42% |
56.86% |
57.73% |
55.96% |
55.79% |
Operating Expenses to Revenue |
|
63.39% |
61.28% |
64.16% |
70.82% |
89.96% |
75.95% |
71.20% |
72.25% |
69.83% |
68.98% |
Earnings before Interest and Taxes (EBIT) |
|
15 |
17 |
15 |
11 |
2.39 |
7.83 |
12 |
10 |
11 |
12 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
17 |
18 |
18 |
15 |
5.90 |
11 |
15 |
13 |
14 |
15 |
Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Price to Book Value (P/BV) |
|
0.98 |
1.04 |
0.87 |
0.81 |
0.80 |
0.89 |
0.76 |
0.85 |
1.01 |
1.06 |
Price to Tangible Book Value (P/TBV) |
|
1.33 |
1.40 |
1.15 |
1.07 |
1.06 |
1.16 |
0.99 |
1.10 |
1.28 |
1.35 |
Price to Revenue (P/Rev) |
|
2.58 |
2.73 |
2.25 |
2.12 |
2.26 |
2.69 |
2.39 |
2.66 |
3.00 |
3.05 |
Price to Earnings (P/E) |
|
11.06 |
10.49 |
8.33 |
8.01 |
10.10 |
14.35 |
13.50 |
15.72 |
15.05 |
14.48 |
Dividend Yield |
|
1.12% |
1.31% |
1.59% |
1.75% |
1.81% |
1.33% |
1.91% |
1.36% |
1.10% |
1.04% |
Earnings Yield |
|
9.04% |
9.53% |
12.01% |
12.48% |
9.90% |
6.97% |
7.41% |
6.36% |
6.64% |
6.91% |
Enterprise Value to Invested Capital (EV/IC) |
|
0.00 |
0.52 |
0.00 |
0.35 |
0.03 |
0.22 |
0.00 |
0.22 |
0.65 |
0.34 |
Enterprise Value to Revenue (EV/Rev) |
|
0.00 |
1.63 |
0.00 |
1.05 |
0.09 |
0.74 |
0.00 |
0.76 |
2.12 |
1.07 |
Enterprise Value to EBITDA (EV/EBITDA) |
|
0.00 |
4.11 |
0.00 |
2.60 |
0.24 |
2.28 |
0.00 |
2.54 |
6.59 |
3.23 |
Enterprise Value to EBIT (EV/EBIT) |
|
0.00 |
4.90 |
0.00 |
3.11 |
0.30 |
3.12 |
0.00 |
3.53 |
8.50 |
4.04 |
Enterprise Value to NOPAT (EV/NOPAT) |
|
0.00 |
6.25 |
0.00 |
3.97 |
0.38 |
3.96 |
0.00 |
4.48 |
10.64 |
5.08 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
|
0.00 |
4.73 |
0.00 |
3.59 |
0.31 |
2.85 |
0.00 |
2.73 |
7.29 |
3.48 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
|
0.00 |
0.27 |
0.00 |
10.22 |
1.76 |
3.79 |
0.00 |
168.95 |
0.00 |
15.39 |
Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Debt to Equity |
|
0.15 |
0.19 |
0.09 |
0.13 |
0.13 |
0.12 |
0.11 |
0.12 |
0.10 |
0.10 |
Long-Term Debt to Equity |
|
0.15 |
0.19 |
0.09 |
0.13 |
0.13 |
0.12 |
0.11 |
0.12 |
0.10 |
0.10 |
Financial Leverage |
|
0.23 |
1.29 |
1.31 |
0.13 |
0.14 |
0.16 |
1.21 |
0.12 |
0.11 |
0.11 |
Leverage Ratio |
|
10.94 |
10.73 |
10.99 |
11.02 |
11.14 |
10.61 |
10.68 |
10.51 |
10.37 |
10.62 |
Compound Leverage Factor |
|
10.94 |
10.73 |
10.99 |
11.02 |
11.14 |
10.61 |
10.68 |
10.51 |
10.37 |
10.62 |
Debt to Total Capital |
|
12.72% |
16.24% |
8.66% |
11.46% |
11.18% |
10.71% |
10.02% |
10.41% |
9.05% |
8.87% |
Short-Term Debt to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Long-Term Debt to Total Capital |
|
12.72% |
16.24% |
8.66% |
11.46% |
11.18% |
10.71% |
10.02% |
10.41% |
9.05% |
8.87% |
Preferred Equity to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Noncontrolling Interests to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.02% |
Common Equity to Total Capital |
|
87.28% |
83.76% |
91.34% |
88.54% |
88.82% |
89.29% |
89.98% |
89.59% |
90.95% |
91.11% |
Debt to EBITDA |
|
0.95 |
1.28 |
0.60 |
0.84 |
0.98 |
1.11 |
1.11 |
1.22 |
0.92 |
0.84 |
Net Debt to EBITDA |
|
-7.57 |
-2.79 |
-8.17 |
-2.65 |
-6.02 |
-5.97 |
-9.12 |
-6.39 |
-2.73 |
-5.97 |
Long-Term Debt to EBITDA |
|
0.95 |
1.28 |
0.60 |
0.84 |
0.98 |
1.11 |
1.11 |
1.22 |
0.92 |
0.84 |
Debt to NOPAT |
|
1.65 |
1.95 |
0.91 |
1.28 |
1.59 |
1.93 |
1.96 |
2.14 |
1.49 |
1.32 |
Net Debt to NOPAT |
|
-13.16 |
-4.24 |
-12.36 |
-4.04 |
-9.72 |
-10.39 |
-16.10 |
-11.24 |
-4.41 |
-9.40 |
Long-Term Debt to NOPAT |
|
1.65 |
1.95 |
0.91 |
1.28 |
1.59 |
1.93 |
1.96 |
2.14 |
1.49 |
1.32 |
Noncontrolling Interest Sharing Ratio |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.01% |
Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
|
92 |
955 |
-982 |
-19 |
-26 |
7.45 |
982 |
-17 |
-26 |
-15 |
Operating Cash Flow to CapEx |
|
418.22% |
846.52% |
1,210.45% |
665.89% |
705.39% |
530.93% |
0.00% |
0.00% |
1,175.07% |
1,251.61% |
Free Cash Flow to Firm to Interest Expense |
|
16.42 |
98.43 |
-57.08 |
-0.91 |
-1.06 |
0.29 |
35.01 |
-0.59 |
-0.89 |
-0.51 |
Operating Cash Flow to Interest Expense |
|
2.36 |
1.57 |
0.66 |
0.49 |
0.28 |
0.45 |
0.25 |
0.58 |
0.43 |
0.59 |
Operating Cash Flow Less CapEx to Interest Expense |
|
1.79 |
1.38 |
0.61 |
0.41 |
0.24 |
0.37 |
0.26 |
0.59 |
0.39 |
0.54 |
Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Asset Turnover |
|
0.03 |
0.04 |
0.04 |
0.04 |
0.03 |
0.03 |
0.03 |
0.03 |
0.03 |
0.03 |
Fixed Asset Turnover |
|
1.77 |
1.85 |
1.93 |
1.86 |
1.72 |
1.64 |
1.62 |
1.65 |
1.79 |
1.86 |
Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Invested Capital |
|
475 |
516 |
1,492 |
502 |
503 |
515 |
519 |
527 |
538 |
539 |
Invested Capital Turnover |
|
0.31 |
0.17 |
0.17 |
0.35 |
0.32 |
0.30 |
0.15 |
0.29 |
0.31 |
0.33 |
Increase / (Decrease) in Invested Capital |
|
-80 |
-942 |
993 |
27 |
28 |
-1.26 |
-973 |
25 |
35 |
24 |
Enterprise Value (EV) |
|
-77 |
269 |
-187 |
178 |
14 |
113 |
-69 |
115 |
348 |
184 |
Market Capitalization |
|
406 |
451 |
385 |
360 |
358 |
410 |
357 |
403 |
492 |
523 |
Book Value per Share |
|
$24.54 |
$25.61 |
$26.09 |
$26.16 |
$26.27 |
$27.06 |
$27.37 |
$27.69 |
$28.90 |
$29.03 |
Tangible Book Value per Share |
|
$18.00 |
$19.11 |
$19.67 |
$19.78 |
$19.93 |
$20.76 |
$21.12 |
$21.48 |
$22.67 |
$22.84 |
Total Capital |
|
475 |
516 |
485 |
502 |
503 |
515 |
519 |
527 |
538 |
539 |
Total Debt |
|
60 |
84 |
42 |
58 |
56 |
55 |
52 |
55 |
49 |
48 |
Total Long-Term Debt |
|
60 |
84 |
42 |
58 |
56 |
55 |
52 |
55 |
49 |
48 |
Net Debt |
|
-483 |
-183 |
-572 |
-181 |
-344 |
-297 |
-426 |
-288 |
-144 |
-340 |
Capital Expenditures (CapEx) |
|
3.15 |
1.80 |
0.94 |
1.50 |
0.95 |
2.21 |
-0.33 |
-0.35 |
1.06 |
1.33 |
Net Nonoperating Expense (NNE) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Net Nonoperating Obligations (NNO) |
|
60 |
84 |
1,048 |
58 |
56 |
55 |
52 |
55 |
49 |
48 |
Total Depreciation and Amortization (D&A) |
|
2.44 |
1.86 |
3.27 |
3.57 |
3.51 |
3.15 |
3.07 |
2.82 |
2.83 |
2.69 |
Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Adjusted Basic Earnings per Share |
|
$0.69 |
$0.78 |
$0.69 |
$0.53 |
$0.12 |
$0.36 |
$0.56 |
$0.48 |
$0.55 |
$0.57 |
Adjusted Weighted Average Basic Shares Outstanding |
|
16.75M |
16.74M |
16.79M |
16.81M |
16.81M |
16.81M |
16.85M |
16.77M |
16.73M |
16.77M |
Adjusted Diluted Earnings per Share |
|
$0.68 |
$0.77 |
$0.68 |
$0.52 |
$0.12 |
$0.37 |
$0.55 |
$0.48 |
$0.54 |
$0.57 |
Adjusted Weighted Average Diluted Shares Outstanding |
|
16.87M |
16.87M |
16.90M |
16.90M |
16.92M |
16.91M |
16.93M |
16.85M |
16.84M |
16.88M |
Adjusted Basic & Diluted Earnings per Share |
|
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
|
16.89M |
17.00M |
17.00M |
17.00M |
16.99M |
17.06M |
17.06M |
16.92M |
16.93M |
17.02M |
Normalized Net Operating Profit after Tax (NOPAT) |
|
12 |
13 |
12 |
8.84 |
2.16 |
6.19 |
9.36 |
8.00 |
9.14 |
9.64 |
Normalized NOPAT Margin |
|
27.03% |
28.99% |
26.80% |
22.83% |
6.82% |
15.83% |
23.34% |
19.80% |
20.69% |
20.59% |
Pre Tax Income Margin |
|
34.35% |
36.96% |
34.56% |
28.89% |
7.53% |
20.03% |
29.89% |
25.57% |
24.34% |
26.46% |
Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBIT to Interest Expense |
|
2.64 |
1.70 |
0.86 |
0.55 |
0.10 |
0.30 |
0.43 |
0.36 |
0.37 |
0.44 |
NOPAT to Interest Expense |
|
2.07 |
1.34 |
0.67 |
0.43 |
0.09 |
0.24 |
0.33 |
0.28 |
0.32 |
0.34 |
EBIT Less CapEx to Interest Expense |
|
2.08 |
1.52 |
0.81 |
0.47 |
0.06 |
0.22 |
0.44 |
0.38 |
0.34 |
0.39 |
NOPAT Less CapEx to Interest Expense |
|
1.50 |
1.16 |
0.61 |
0.36 |
0.05 |
0.15 |
0.35 |
0.29 |
0.28 |
0.29 |
Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Dividend Payout Ratio |
|
12.41% |
10.98% |
10.59% |
11.31% |
14.84% |
18.98% |
20.54% |
21.20% |
16.59% |
15.00% |
Augmented Payout Ratio |
|
12.24% |
10.98% |
10.59% |
11.31% |
15.02% |
18.98% |
20.54% |
32.78% |
25.67% |
23.21% |
Key Financial Trends
SmartFinancial Inc. (NASDAQ: SMBK) has demonstrated steady financial growth over the last four years, with notable trends in earnings, revenue, expenses, and balance sheet strength.
Positive Trends:
- Net interest income has increased consistently from $31.5 million in Q4 2022 to $37.8 million in Q4 2024, showing strong core earnings growth driven by loans and leases interest income rising from $40.1 million to $57.9 million in the same period.
- Total revenues have grown from $44.7 million in Q4 2022 to $46.8 million in Q4 2024, reflecting a solid expansion in both interest and non-interest income streams.
- Net income attributable to common shareholders rose steadily, reaching $9.64 million in Q4 2024, up from $6.19 million in Q4 2022, indicating improved profitability.
- SmartFinancial reported consistent earnings per share growth, with diluted EPS increasing from $0.37 in Q4 2022 to $0.57 in Q4 2024, reflecting effective capital management and earnings growth.
- The company maintains strong cash flow from operating activities, with $16.7 million in Q4 2024, increasing from $15.2 million in Q4 2022, supporting its operational strength.
- Total assets increased from approximately $4.74 billion in Q2 2022 to about $4.91 billion in Q3 2024, indicating asset growth and expanded business volume.
- Deposit growth is strong, with increases in interest-bearing deposits from $2.25 billion in Q1 2023 to $3.46 billion in Q3 2024, enhancing the company’s funding base.
- Allowance for loan and lease losses has increased prudently to $35.6 million in Q3 2024, suggesting proactive risk management as loans grew.
Neutral Factors:
- Interest expense increased slightly from $9.7 million in Q4 2022 to $28.3 million in Q4 2024, primarily due to higher deposits and debt levels, partially offsetting interest income gains.
- Marketing and property & liability insurance claims expenses have remained relatively stable over the periods, unlikely to significantly impact future earnings.
Negative Trends:
- Non-interest expenses have also risen, from roughly $27.4 million in Q4 2022 to $32.3 million in Q4 2024, driven by increases in salaries, occupancy, and operating expenses which may pressure profit margins.
- Provision for credit losses showed variability, spiking to $2.1 million in Q4 2024 from lower amounts in prior quarters, indicating some credit quality pressure or conservatism in loss reserves.
- Cash flow from investing activities remains negative due to substantial purchases of investment securities (e.g., over $210 million in Q4 2024), which may impact liquidity in the short term.
- The company has issued and repaid long-term debt frequently, with overall increases in debt outstanding, potentially increasing financial leverage and interest costs.
Overall, SmartFinancial shows consistent growth in its core banking business with rising interest income and net income supporting shareholder value. Expense growth and credit loss provisions warrant monitoring but currently appear managed prudently relative to asset growth. The company's solid deposit and asset base reinforces its financial stability as it continues to expand responsibly through 2024.
08/23/25 07:15 AMAI Generated. May Contain Errors.