SmartFinancial, Inc. ( (SMBK) ) has released its Q4 earnings. Here is a breakdown of the information SmartFinancial, Inc. presented to its investors.
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SmartFinancial, Inc., based in Knoxville, Tennessee, operates as the bank holding company for SmartBank, a full-service commercial bank with branches across Tennessee, Alabama, and Florida. The company focuses on delivering exceptional client service and strategic branching, contributing to its success.
In its fourth-quarter 2024 earnings report, SmartFinancial, Inc. announced a net income of $9.6 million, up from $6.2 million in the same quarter of the previous year. Operating earnings per share were reported at $0.57, reflecting a significant improvement in profitability.
Key highlights from the report include a 20% annualized increase in net organic loan and lease growth, a 13 basis point expansion in net interest margin to 3.24%, and solid credit quality with nonperforming assets accounting for 0.19% of total assets. The company’s net interest income increased to $37.8 million, driven by a rise in average earning assets and a decrease in the cost of interest-bearing liabilities.
SmartFinancial’s strategic focus on growth and profitability was evident in its 2024 performance, with a tangible book value growth of 10% and a steady enhancement in return metrics. The company’s management expressed confidence in further enhancing profitability and shareholder value in 2025.
Looking ahead, SmartFinancial remains committed to maintaining its growth trajectory and enhancing its operational performance, reinforcing its strong market position in the banking sector.
