SmartFinancial Q2 2022 EPS $0.61, 30% annualized loan growth, NIM 3.08%

SMARTFINANCIAL INC.

2022-Q2 EPS reported $1.10

Net income of $10.2M ($0.61 GAAP EPS); operating earnings of $10.3M ($0.61) vs $9.1M ($0.60) in Q2 2021.
Organic loan and lease growth of $206.8M (30% annualized QoQ).
Net interest margin (FTE) expanded 17 bps to 3.08% on rising rates and deployment of excess cash.
Credit quality remains solid with nonperforming assets at 0.11% of total assets.
Noninterest income grew to $7.2M, driven by service charges and investment services.

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