SMBK
SmartFinancial, Inc.39.29
-0.34-0.86%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Reaffirms organic focus, modest guides
Q&A largely reaffirmed the scripted story of strong organic growth and margin expansion, adding modest granularity on 2026 targets. Management dialed back loan growth expectations to high-single digits from double-digits, citing a bigger balance sheet, while guiding expenses to 5% growth in a $34.5M-$35M band. NIM should hit 3.40%-3.45% in Q1, stabilizing near 3.50% by year-end. Columbus expansion won't materially lift costs, balanced by production; M&A remains sidelined unless exceptional. Boring beats bold here. Investors will eye execution on the $1 EPS run-rate challenge.
Key Stats
Market Cap
669.03MP/E (TTM)
14.34Basic EPS (TTM)
2.74Dividend Yield
0.01%Recent Filings
10-K
FY2025 results
SmartFinancial drove FY2025 net income to $50.3M ($2.98 diluted EPS), up from $36.1M ($2.14) in 2024, fueled by 11.7% loan growth to $4.4B net and deposit expansion to $5.2B amid a 3.29% NIM lift (derived). Q4 accelerated with $100M subordinated debt issuance (net of $40M retirement) bolstering liquidity, while $453M annual loan adds reflected organic momentum across CRE (51% of portfolio) and C&I. Margins expanded sequentially on lower deposit costs (2.91% avg), yet noninterest expense rose 8.6% on staffing. Steady $0.32/share dividend paid. CRE concentrations expose quarterly momentum to real estate volatility.
8-K
Dividend up, buybacks authorized
SmartFinancial's board declared a $0.08 quarterly cash dividend per share, payable March 2 to holders of record February 13. It also greenlit a $10 million share repurchase program effective March 1, 2026, through February 28, 2027, replacing the prior plan. Repurchases flex across open market or private deals. Capital return signals board confidence.
8-K
Q4 earnings beat, growth surges
SmartFinancial posted Q4 2025 net income of $13.7 million, or $0.81 per diluted share, up 42% from Q4 2024. Loans grew $141 million organically (13% annualized), deposits $102 million (8% annualized), while net interest margin expanded to 3.38% on falling deposit costs. Positive operating leverage marked the seventh straight quarter. Credit quality stays solid at 0.22% NPAs.
8-K
Extends notes exchange offer
SmartFinancial extended its exchange offer for $100.0 million of 7.25% Fixed-to-Floating Rate Subordinated Notes due 2035, originally issued August 20, 2025, to January 9, 2026. As of January 2, $82.5 million—or 82.5%—tendered. Extension buys time. Notes swap unregistered for registered versions, easing liquidity while terms stay identical.
10-Q
Q3 FY2025 results
SmartFinancial posted Q3 net income of $13.7M, up 50% y/y, with diluted EPS at $0.81 (reconciles to 16.9M shares). Net interest income jumped 21% y/y to $42.4M on 21% loan growth to $4.2B, while provision fell 91% y/y to $0.2M. Noninterest income dipped on a $3.7M securities loss, offset by $4.0M gain from selling SBKI; expenses rose on restructuring. Cash swelled to $557M, deposits +8% y/y to $5.1B, bolstered by $99M new subordinated debt. Loans ticked up q/q. Credit risk ticks higher.
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