SmartFinancial Q4 2022 diluted EPS $0.77; operating EPS $0.76 beats prior year

SMARTFINANCIAL INC.

2022-FY EPS reported $2.55

Net income $13.0M ($0.77 diluted); operating earnings $12.9M ($0.76 diluted) up 48% YoY.
Organic loan growth $130.2M (17% annualized QoQ); net interest margin 3.51% (FTE) vs 3.29% prior Q.
Nonperforming assets to total assets remained low at 0.10%; total assets $4.6B.
Loan yield improved to 5.05% from 4.59% prior Q; deposit cost rose to 0.85% from 0.45%.
Operating revenue record; ROAA 1.10%, ROATCE 16.5% (operating basis).

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

SMARTFINANCIAL INC. reported fourth quarter of 2022 results: net income net income of $13.0 million, or $0.77 per diluted common share.

Period: fourth quarter of 2022
Net income: net income of $13.0 million, or $0.77 per diluted common share
Result: reported results

Exact text from the filing

SmartFinancial, Inc. ("SmartFinancial" or the "Company"; NASDAQ: SMBK), today announced net income of $13.0 million, or $0.77 per diluted common share, for the fourth quarter of 2022, compared to net income of $6.7 million, or $0.40 per diluted common share, for the fourth quarter of 2021, and compared to prior quarter net income of $11.5 million, or $0.68 per diluted common share.

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Source: SEC EDGAR

accession 0001558370-23-000426

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