SmartFinancial, Inc. (SMBK)

SmartFinancial Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	213.56	186.48	136.38	118.58	112.31
Interest Income on Investments	37.56	31.56	22.45	6.65	5.3
Total Interest Income	251.12	218.04	158.83	125.23	117.61
Interest Paid on Deposits	109.26	84.26	18.23	8.85	13.6
Interest Paid on Borrowings	4.51	3.7	3.11	2.99	3.15
Total Interest Expense	113.77	87.96	21.33	11.84	16.75
Net Interest Income	137.35	130.08	137.5	113.39	100.87
Net Interest Income Growth (YoY)	5.59%	-5.40%	21.26%	12.42%	20.25%
Mortgage Banking Activities	1.58	1.04	1.55	4.04	3.88
Gain (Loss) on Sale of Investments	0.06	-6.8	0.14	0.05	0.01
Other Non-Interest Income	25.65	21.58	20.17	15.21	8.14
Total Non-Interest Income	34.15	22.33	27.72	23.95	15.43
Non-Interest Income Growth (YoY)	52.98%	-19.45%	15.73%	55.25%	88.24%
Revenues Before Loan Losses	171.5	152.41	165.22	137.34	116.29
Provision for Loan Losses	5.15	3.03	4.02	1.63	8.68
Revenue	166.35	149.38	161.2	135.71	107.61
Revenue Growth (YoY)	11.36%	-7.33%	18.78%	26.11%	20.27%
Salaries and Employee Benefits	72.1	64.47	62.03	50.71	42.38
Occupancy Expenses	13.62	11.65	10.3	8.88	7.19
Federal Deposit Insurance	3.39	3.16	2.67	1.83	1.19
Amortization of Goodwill & Intangibles	2.43	2.62	2.61	2.26	1.74
Selling, General & Administrative	15.46	17.1	15.49	12.61	9.96
Other Non-Interest Expense	11.08	11.64	10.18	9.31	7.65
Total Non-Interest Expense	120.89	113.04	105.73	87.69	72.15
EBT Excluding Unusual Items	45.46	36.34	55.47	48.02	35.46
Pretax Income	45.46	36.23	54.91	44.32	30.89
Income Tax Expense	9.32	7.63	11.89	9.53	6.56
Net Income	36.14	28.59	43.02	34.79	24.33
Net Income to Common	36.14	28.59	43.02	34.79	24.33
Net Income Growth	26.40%	-33.54%	23.66%	42.98%	-8.35%
Basic Shares Outstanding	17	17	17	16	15
Diluted Shares Outstanding	17	17	17	16	15
Shares Change (YoY)	-0.21%	0.24%	7.47%	4.53%	6.93%
EPS (Basic)	2.16	1.70	2.57	2.23	1.63
EPS (Diluted)	2.14	1.69	2.55	2.22	1.62
EPS Growth	26.63%	-33.73%	14.86%	37.04%	-14.29%
Dividend Per Share	0.320	0.320	0.280	0.240	0.200
Dividend Growth	0%	14.29%	16.67%	20.00%	300.00%
Effective Tax Rate	20.50%	21.07%	21.65%	21.50%	21.23%

Source: S&P Capital IQ. Banks template. Financial Sources.