Quarterly ResultOct 19, 2026, 05:06 PM
SmartFinancial Q3 Net Income $18.6M, EPS $1.10; Loan Growth 15%
AI Summary
SmartFinancial, Inc. announced its third quarter 2026 financial results, reporting a net income of $18.6 million, or $1.10 per diluted share, a significant increase compared to the prior year's quarter. The company highlighted strong organic growth in both loans and deposits, with net organic loan and lease growth of $174 million (15% annualized) and core deposit growth of $163 million (12% annualized). Despite a slight decrease in net interest margin to 3.45% due to increased funding costs, the company saw an increase in total assets to $6.32 billion and total deposits to $5.58 billion. Noninterest expense rose due to higher salaries and loan-related costs.
Key Highlights
- SmartFinancial reported Q3 2026 net income of $18.6 million, or $1.10 per diluted share, up from $13.7 million ($0.81/share) in Q3 2025.
- Net organic loan and lease growth was $174 million, a 15% annualized increase.
- Core deposit growth was $163 million, a 12% annualized increase.
- Tangible book value per common share grew 15% annualized, excluding AOCI impacts.
- Net interest margin decreased to 3.45% from 3.52% due to higher funding costs.
- Noninterest expense increased $2.4 million to $36.4 million, driven by salaries and loan-related expenses.
- Total assets grew to $6.32 billion, with loans and leases increasing by $493.1 million.
- Total deposits increased $423.4 million, primarily in money market and savings accounts.
Price Impact
More from SMBK