SmartFinancial reports Q2 EPS 46c, consensus 39c

Reports Q2 NII $32.8M vs. $31.6M lats year. Reports Q2 net interest margin 2.97% vs 2.93% last year. Billy Carroll, President & CEO, stated: “Our Company continued to gain momentum with a very nice second quarter highlighted by solid growth in operating revenue and a 10% annualized increase in tangible book value per share quarter over quarter. We also took advantage of our liquidity position, growing loans at an 11% quarterly annualized pace. Margin inflection accelerated during the quarter, and we look forward to seeing that trend continue. The sales energy around our Company is very strong and our outlook for the second half of 2024 remains bullish as we gain further operating leverage.”