SmartFinancial, Inc. ( (SMBK) ) has released its Q1 earnings. Here is a breakdown of the information SmartFinancial, Inc. presented to its investors.
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SmartFinancial, Inc., a bank holding company based in Knoxville, Tennessee, operates SmartBank, a full-service commercial bank with branches in Tennessee, Alabama, and Florida. The company is known for its strategic branching, disciplined lending, and exceptional client service.
In the first quarter of 2025, SmartFinancial reported a net income of $11.3 million, or $0.67 per diluted share, marking an increase from $9.4 million, or $0.55 per share, in the same quarter of the previous year. The company also announced a regular quarterly cash dividend.
Key financial highlights include a 9% annualized increase in net organic loan and lease growth, a 10% rise in deposit growth, and solid credit quality with nonperforming assets constituting only 0.19% of total assets. The company also expanded its team by hiring five new members across Private Banking and Treasury Management.
Looking ahead, SmartFinancial’s management remains optimistic about the company’s growth trajectory, emphasizing a strong capital base and balance sheet. The company aims to enhance profitability and shareholder value while navigating through various economic environments.