SmartFinancial, Inc. (SMBK) 10-Year Financial Performance & Capital Metrics

SMBK • • Banking & Credit

Financial ServicesRegional BanksCommunity & Regional Retail BankingSoutheast Community Banks

AboutSmartFinancial, Inc. operates as the bank holding company for SmartBank that provides various financial services to individuals and corporate customers. It operates through Commercial Real Estate, Consumer Real Estate, Construction and Land Development, Commercial and Industrial, and Consumer and Other segments. The company offers noninterest-bearing and interest-bearing checking, interest-bearing demand, savings, money market, time deposit, individual retirement accounts, as well as certificates of deposit. It also provides commercial and residential real estate, consumer real estate, and construction and land development loans; commercial and financial loans; mortgage loans; and direct consumer installment loans, educational, and other revolving credit loans; and overdraft facilities. In addition, the company offers wealth management, insurance, mortgage origination, and Internet and mobile banking services. As of March 1, 2022, it had 41 full-service branches and 2 loan production offices in East and Middle Tennessee, Alabama, and the Florida Panhandle. The company is headquartered in Knoxville, Tennessee.Show more

Net Interest Income $137M +5.6%
Total Revenue $285M +18.7%
Net Income $36M +26.4%
Return on Equity 7.6% +18.6%
Net Interest Margin 2.6% -3.3%
Efficiency Ratio 42.38% -10.0%
ROA 0.72% +18.4%
Equity / Assets 9.32% -2.2%
Book Value per Share 29.12 +7.1%
Tangible BV/Share 22.92 +9.9%
Debt/Equity 0.10 -19.0%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Strong Piotroski F-Score: 7/9
✓Efficient operations: 42.4% efficiency ratio
✓Trading near 52-week high
✓Trading at only 1.4x book value

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y29.62%

5Y19.89%

3Y24.12%

TTM-

Profit (Net Income) CAGR

10Y34.74%

5Y6.36%

3Y1.28%

TTM41.59%

EPS CAGR

10Y48.88%

5Y2.52%

3Y-1.22%

TTM41.24%

ROCE

10Y Avg7.37%

5Y Avg7.94%

3Y Avg8.16%

Latest8.05%

Peer Comparison

Southeast Community Banks

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
FFINFirst Financial Bankshares, Inc.	4.68B	32.65	20.93	18.79%	30.24%	14.14%	6.26%	0.12
FHNFirst Horizon Corporation	11.85B	24.44	17.97	4.71%	15.7%	9.58%	10.33%	0.50
AUBAtlantic Union Bankshares Corporation	5.47B	38.36	17.13	28.8%	15.53%	4.22%	5.51%	0.17
UCBUnited Community Banks, Inc.	4.09B	33.91	16.62	14.65%	17.05%	8.83%	7.4%	0.13
SNVSynovus Financial Corp.	6.95B	50.05	16.52	1.16%	14.09%	13.7%	11.01%	0.35
PNFPPinnacle Financial Partners, Inc.	14.67B	97.65	16.38	15.32%	16.65%	9.1%	5.5%	0.39
CADECadence Bank	8.27B	44.40	16.03	32.37%	18.03%	9.08%	9.39%	0.01
ABCBAmeris Bancorp	5.56B	81.41	15.69	9.75%	21.97%	9.91%	2.53%	0.11

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	25M	38.26M	46.33M	76.64M	83.88M	100.87M	113.39M	137.5M	130.08M	137.35M
NII Growth %	0.34%	0.53%	0.21%	0.65%	0.09%	0.2%	0.12%	0.21%	-0.05%	0.06%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	27.75M	42.56M	52.02M	92.21M	108.45M	117.61M	125.23M	158.83M	218.04M	251.12M
Interest Expense	2.76M	4.3M	5.69M	15.57M	24.57M	16.75M	11.84M	21.33M	87.96M	113.77M
Loan Loss Provision	922.96K	787.54K	782.69K	2.94M	2.6M	8.68M	1.63M	4.02M	3.03M	5.15M
Non-Interest Income+	1.49M	3.03M	3.63M	4.53M	6.72M	15.43M	23.95M	27.71M	22.32M	34.15M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	29.25M	45.59M	55.65M	96.74M	115.17M	133.04M	149.18M	186.55M	240.37M	285.27M
Revenue Growth %	0.37%	0.56%	0.22%	0.74%	0.19%	0.16%	0.12%	0.25%	0.29%	0.19%
Non-Interest Expense	22.41M	31.35M	37.73M	56.9M	54.56M	76.72M	91.39M	106.29M	113.15M	120.89M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	3.15M	9.16M	11.44M	21.34M	33.45M	30.89M	44.32M	54.91M	36.23M	45.46M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.07%	1.91%	0.25%	0.86%	0.57%	-0.08%	0.43%	0.24%	-0.34%	0.25%
Pretax Income+	3.15M	9.16M	11.44M	21.34M	33.45M	30.89M	44.32M	54.91M	36.23M	45.46M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	1.64M	3.36M	6.43M	3.23M	6.9M	6.56M	9.53M	11.89M	7.63M	9.32M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	1.51M	5.8M	5.02M	18.1M	26.55M	24.33M	34.79M	43.02M	28.59M	36.14M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-0.18%	2.84%	-0.14%	2.61%	0.47%	-0.08%	0.43%	0.24%	-0.34%	0.26%
Net Income (Continuing)	1.51M	5.8M	5.02M	18.1M	26.55M	24.33M	34.79M	43.02M	28.59M	36.14M
EPS (Diluted)+	0.25	0.78	0.56	1.43	1.89	1.62	2.22	2.55	1.69	2.14
EPS Growth %	5.25%	2.12%	-0.28%	1.55%	0.32%	-0.14%	0.37%	0.15%	-0.34%	0.27%
EPS (Basic)	0.27	0.82	0.56	1.46	1.90	1.63	2.23	2.57	1.70	2.16
Diluted Shares Outstanding	5.81M	5.9M	8.75M	12.52M	14.05M	15.02M	15.7M	16.87M	16.92M	16.88M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	73.77M	68.75M	106.06M	115.82M	160.53M	415.31M	1.01B	251.11M	294.82M	373.51M
Short Term Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Investments+	889.77M	937.69M	1.47B	1.98B	2.07B	2.59B	3.19B	3.94B	4.04B	4.42B
Investments Growth %	0.94%	0.05%	0.57%	0.35%	0.05%	0.25%	0.23%	0.24%	0.03%	0.1%
Long-Term Investments	723.36M	808.27M	1.32B	1.78B	1.89B	2.38B	2.7B	3.45B	3.63B	4.11B
Accounts Receivables	0	0	0	0	0	0	0	0	0	0
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	4.17M	4.17M	42.87M	66.1M	65.61M	74.14M	91.56M	96.14M	96.14M	96.1M
Intangible Assets	2.77M	2.47M	7.96M	12.93M	11.58M	12.34M	14.29M	13.63M	11M	8.62M
PP&E (Net)	25.04M	30.54M	43M	56.01M	59.43M	72.68M	85.96M	92.51M	92.96M	91.09M
Other Assets	28.45M	18.84M	51.53M	41.39M	80.61M	139.24M	173.62M	182.21M	230.99M	222.68M
Total Current Assets	240.18M	198.17M	258.01M	317.51M	338.88M	630.94M	1.54B	801.14M	771.35M	748.69M
Total Non-Current Assets	783.78M	864.29M	1.46B	1.96B	2.11B	2.67B	3.07B	3.84B	4.06B	4.53B
Total Assets+	1.02B	1.06B	1.72B	2.27B	2.45B	3.3B	4.61B	4.64B	4.83B	5.28B
Asset Growth %	0.92%	0.04%	0.62%	0.32%	0.08%	0.35%	0.4%	0.01%	0.04%	0.09%
Return on Assets (ROA)	0%	0.01%	0%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Accounts Payable	0	0	0	0	0	0	0	0	0	0
Total Debt+	80.26M	45.13M	67.66M	62.18M	70.88M	120.55M	141.73M	83.92M	55.2M	47.78M
Net Debt	6.49M	-23.62M	-38.41M	-53.65M	-89.65M	-294.76M	-865.85M	-167.2M	-239.62M	-325.73M
Long-Term Debt	34.19M	18.5M	43.6M	50.42M	64.7M	114.74M	129.51M	66.61M	42.1M	39.68M
Short-Term Debt	46.07M	26.62M	24.05M	11.76M	6.18M	5.8M	12.21M	17.3M	13.1M	8.1M
Other Liabilities	-18M	0	0	-460	18.28M	22.02M	18.48M	44.03M	46.45M	50.18M
Total Current Liabilities	907.6M	938.71M	1.47B	1.94B	2.05B	2.81B	4.03B	4.09B	4.28B	4.69B
Total Non-Current Liabilities	16.19M	18.5M	43.6M	50.42M	82.98M	136.76M	148M	110.65M	88.55M	89.86M
Total Liabilities	923.79M	957.22M	1.51B	1.99B	2.14B	2.95B	4.18B	4.21B	4.37B	4.78B
Total Equity+	100.18M	105.24M	205.85M	283.01M	312.75M	357.17M	429.43M	432.45M	459.89M	491.46M
Equity Growth %	0.79%	0.05%	0.96%	0.37%	0.11%	0.14%	0.2%	0.01%	0.06%	0.07%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.02%	0.06%	0.03%	0.07%	0.09%	0.07%	0.09%	0.1%	0.06%	0.08%
Book Value per Share	17.25	17.85	23.53	22.60	22.27	23.78	27.35	25.63	27.18	29.12
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	5.81M	5.9M	11.15M	13.93M	14.01M	15.11M	16.8M	16.9M	16.99M	16.93M
Additional Paid-in Capital	82.62M	83.46M	174.01M	231.85M	232.73M	252.69M	292.94M	294.33M	295.7M	294.27M
Retained Earnings	12.1M	16.87M	21.89M	39.99M	65.84M	87.19M	118.25M	156.54M	173.1M	203.82M
Accumulated OCI	-352K	-1M	-1.2M	-2.77M	168K	2.18M	1.44M	-35.32M	-25.91M	-23.67M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Preferred Stock	12K	12K	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	2.34M	11.59M	1.24M	20.82M	29.87M	29.07M	46.18M	56.79M	39.72M	52.7M
Operating CF Growth %	0.39%	3.95%	-0.89%	15.79%	0.43%	-0.03%	0.59%	0.23%	-0.3%	0.33%
Net Income	1.51M	5.8M	5.02M	18.1M	26.55M	24.33M	34.79M	43.02M	28.59M	36.14M
Depreciation & Amortization	1.09M	2.19M	-1.69M	3.29M	4.3M	7.76M	9M	12.64M	13.5M	11.41M
Deferred Taxes	0	0	1.6M	2.43M	780K	-1.22M	643K	-555K	1.31M	120K
Other Non-Cash Items	716.53K	-551.17K	-854.43K	-1.73M	-7.58M	-2.17M	1.66M	3.05M	5.3M	375K
Working Capital Changes	-1.11M	4.02M	-2.98M	-1.67M	5.3M	-121K	-608K	-2.67M	-10.33M	3.02M
Cash from Investing+	-7.94M	-54.31M	-50.73M	-94.88M	-94.78M	-259.34M	-264.99M	-840.82M	-135.24M	-420.22M
Purchase of Investments	-23.22M	-23.29M	-54M	-72.15M	-17.6M	-94.15M	-436.2M	-347.91M	-130.58M	-131.38M
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	33.5M	0	-178.31K	4.37M	0	46.13M	15.36M	-4.88M	0	0
Other Investing	-44.47M	-81.53M	-76.64M	-116.72M	-117.23M	-293.87M	8.3M	-556.48M	-212.74M	-498.87M
Cash from Financing+	38.82M	31.51M	93.77M	76.85M	133.06M	528.02M	782.17M	5.37M	181.37M	402.82M
Dividends Paid	-120K	-752K	-195K	0	-700K	-2.99M	-3.73M	-4.72M	-5.43M	-5.42M
Share Repurchases	0	0	0	0	0	-4.31M	-1.21M	0	0	-2.97M
Stock Issued	4.04M	803.96K	37.85M	1.53M	438K	339K	200K	397K	165K	68K
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	-1000K	-1000K	1000K	-1000K	1000K	1000K	1000K	-1000K	-1000K	-1000K
Other Financing	54.9M	47.14M	47.91M	82.47M	119.13M	485.01M	779.8M	55.11M	191.13M	417.53M
Net Change in Cash+	33.23M	-11.22M	44.28M	2.8M	68.15M	297.75M	563.36M	-778.65M	85.85M	35.3M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	46.74M	79.96M	68.75M	113.03M	115.82M	183.97M	481.72M	1.05B	266.42M	352.27M
Cash at End	79.96M	68.75M	113.03M	115.82M	183.97M	481.72M	1.05B	266.42M	352.27M	387.57M
Interest Paid	2.61M	4.31M	5.4M	14.75M	24.18M	16.9M	12.16M	21.36M	85.44M	113.67M
Income Taxes Paid	1.98M	3.75M	3.53M	857K	6.76M	8.61M	9.28M	12.21M	9.35M	8.77M
Free Cash Flow+	1.26M	4.6M	-1.56M	16.98M	23.6M	23.63M	43.8M	44.31M	33.45M	46.3M
FCF Growth %	2.08%	2.65%	-1.34%	11.89%	0.39%	0%	0.85%	0.01%	-0.25%	0.38%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	1.93%	5.65%	3.22%	7.41%	8.91%	7.26%	8.85%	9.98%	6.41%	7.6%
Return on Assets (ROA)	0.19%	0.56%	0.36%	0.91%	1.12%	0.85%	0.88%	0.93%	0.6%	0.72%
Net Interest Margin	2.44%	3.6%	2.69%	3.37%	3.42%	3.05%	2.46%	2.96%	2.69%	2.6%
Efficiency Ratio	76.64%	68.75%	67.8%	58.82%	47.37%	57.67%	61.26%	56.98%	47.07%	42.38%
Equity / Assets	9.78%	9.91%	11.96%	12.44%	12.77%	10.81%	9.31%	9.33%	9.52%	9.32%
Book Value / Share	17.25	17.85	23.53	22.6	22.27	23.78	27.35	25.63	27.18	29.12
NII Growth	33.99%	53.08%	21.08%	65.43%	9.44%	20.25%	12.42%	21.26%	-5.4%	5.59%
Dividend Payout	-	-	-	-	2.64%	12.27%	10.72%	10.98%	18.98%	15%

Frequently Asked Questions

Valuation & Price

SmartFinancial, Inc. (SMBK) has a price-to-earnings (P/E) ratio of 18.5x. This is roughly in line with market averages.

Growth & Financials

SmartFinancial, Inc. (SMBK) grew revenue by 18.7% over the past year. This is strong growth.

Yes, SmartFinancial, Inc. (SMBK) is profitable, generating $46.3M in net income for fiscal year 2024 (12.7% net margin).

Dividend & Returns

Yes, SmartFinancial, Inc. (SMBK) pays a dividend with a yield of 0.81%. This makes it attractive for income-focused investors.

SmartFinancial, Inc. (SMBK) has a return on equity (ROE) of 7.6%. This is below average, suggesting room for improvement.

Industry Metrics

SmartFinancial, Inc. (SMBK) has a net interest margin (NIM) of 2.6%. NIM has been under pressure due to interest rate environment.

SmartFinancial, Inc. (SMBK) has an efficiency ratio of 42.4%. This is excellent, indicating strong cost control.

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