SmartFinancial reports Q3 operating EPS 86c, consensus 72c

Billy Carroll, President & CEO, stated: “SmartFinancial (SMBK) continues to demonstrate improvement across all areas, as evidenced by our sixth consecutive quarter of positive operating leverage, 10% annualized organic loan growth, and 15% annualized deposit growth. Tangible book value per common share1 rose 26% quarter over quarter annualized and asset quality remained solid. Our strategic actions with SBKI unlocked capital but allowed us to remain an invested partner, affording us the best of both worlds. We look forward to a long partnership with SBKI and watching the agency thrive in its next chapter. A special thanks to all our associates for their dedication in executing all the strategic actions this quarter while maintaining operational excellence and exemplifying what SmartBank culture is all about.”