SmartFinancial Q2 operating EPS $0.52, down from $0.61 YoY; loan growth 7% annualized

SMARTFINANCIAL INC.

2023-Q2 EPS reported $1.20

Operating earnings $8.8M ($0.52 diluted EPS), vs $10.2M ($0.61) YoY and $11.5M ($0.68) prior Q.
Net organic loan and lease growth $56M, 7% annualized quarter-over-quarter.
Tax-equivalent NIM fell to 2.93% from 3.31% prior Q (includes $1.4M acquired loan fee).
Credit quality solid: nonperforming assets / total assets at 0.12%.
Deposit mix stable with 24% non-interest bearing accounts; cost of total deposits 1.89%.

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 0.9

SMARTFINANCIAL INC. reported the second quarter of 2023 results: net income $8.8 million, EPS $0.52 per diluted common share.

Period: the second quarter of 2023
Net income: $8.8 million
EPS: $0.52 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 $8.8 million, or $0.52 per diluted common share, for the second quarter of 2023

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Source: SEC EDGAR

accession 0001558370-23-012155

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