SmartFinancial, Inc. (SMBK)

SmartFinancial Income Statement

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

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	204.38	186.48	136.38	118.58	112.31	101
Interest Income on Investments	38.14	31.56	22.45	6.65	5.3	7.45
Total Interest Income	242.52	218.04	158.83	125.23	117.61	108.46
Interest Paid on Deposits	106.75	84.26	18.23	8.85	13.6	21.92
Interest Paid on Borrowings	4.68	3.7	3.11	2.99	3.15	2.66
Total Interest Expense	111.43	87.96	21.33	11.84	16.75	24.58
Net Interest Income	131.08	130.08	137.5	113.39	100.87	83.88
Net Interest Income Growth (YoY)	-3.74%	-5.40%	21.26%	12.42%	20.25%	9.44%
Mortgage Banking Activities	1.27	1.04	1.55	4.04	3.88	1.57
Gain (Loss) on Sale of Investments	-	-6.8	0.14	0.05	0.01	0.03
Other Non-Interest Income	24.68	21.58	20.17	15.21	8.14	3.69
Total Non-Interest Income	32.7	22.33	27.72	23.95	15.43	8.2
Non-Interest Income Growth (YoY)	49.52%	-19.45%	15.73%	55.25%	88.24%	24.47%
Revenues Before Loan Losses	163.79	152.41	165.22	137.34	116.29	92.08
Provision for Loan Losses	4.59	3.03	4.02	1.63	8.68	2.6
Revenue	159.2	149.38	161.2	135.71	107.61	89.48
Revenue Growth (YoY)	2.18%	-7.33%	18.78%	26.11%	20.27%	11.44%
Salaries and Employee Benefits	67.12	64.47	62.03	50.71	42.38	35.98
Occupancy Expenses	11.57	11.65	10.3	8.88	7.19	5.84
Federal Deposit Insurance	3.48	3.16	2.67	1.83	1.19	0.14
Amortization of Goodwill & Intangibles	2.47	2.62	2.61	2.26	1.74	1.37
Selling, General & Administrative	18.94	17.1	15.49	12.61	9.96	6.88
Other Non-Interest Expense	12.36	11.64	10.18	9.31	7.65	8.4
Total Non-Interest Expense	118.29	113.04	105.73	87.69	72.15	59.93
EBT Excluding Unusual Items	40.9	36.34	55.47	48.02	35.46	29.54
Other Unusual Items	-	-	-	-	-	0.72
Pretax Income	40.9	36.23	54.91	44.32	30.89	33.45
Income Tax Expense	8.21	7.63	11.89	9.53	6.56	6.9
Net Income	32.69	28.59	43.02	34.79	24.33	26.55
Net Income to Common	32.69	28.59	43.02	34.79	24.33	26.55
Net Income Growth	-7.67%	-33.54%	23.66%	42.98%	-8.35%	46.66%
Basic Shares Outstanding	17	17	17	16	15	14
Diluted Shares Outstanding	17	17	17	16	15	14
Shares Change (YoY)	-0.09%	0.24%	7.47%	4.53%	6.93%	12.21%
EPS (Basic)	1.95	1.70	2.57	2.23	1.63	1.90
EPS (Diluted)	1.93	1.69	2.55	2.22	1.62	1.89
EPS Growth	-8.09%	-33.73%	14.86%	37.04%	-14.29%	30.34%
Dividend Per Share	0.320	0.320	0.280	0.240	0.200	0.050
Dividend Growth	3.23%	14.29%	16.67%	20.00%	300.00%	-
Effective Tax Rate	20.08%	21.07%	21.65%	21.50%	21.23%	20.62%

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