SmartFinancial Q1 net income $9.4M ($0.55 EPS); loan growth 4% annualized

SMARTFINANCIAL INC.

2024-Q1 EPS reported $0.55

Net income $9.4M ($0.55 diluted EPS) vs $11.5M ($0.68) Q1 2023; operating EPS $0.49.
Net organic loan and lease growth of $34M (4% annualized); deposits up $126.3M (12%).
NIM (tax-equivalent) 2.85% vs 2.86% prior quarter; cost of total deposits 2.52%.
Nonperforming assets to total assets 0.18%, credit quality remains solid.
CEO cites momentum, expense discipline, and margin inflection point on horizon.

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 first quarter of 2024 results: net income $9.4 million, EPS $0.55 per diluted common share.

Period: the first quarter of 2024
Net income: $9.4 million
EPS: $0.55 per diluted common share
Result: reported results

Exact text from the filing

SmartFinancial, Inc. ("SmartFinancial" or the "Company"; NYSE: SMBK), today announced net income of $9.4 million, or $0.55 per diluted common share, for the first quarter of 2024

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SMARTFINANCIAL INC. filing history →

Source: SEC EDGAR

accession 0001558370-24-005422

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