Sector: Financials | Industry: Banks |
See Regulatory Filings on SEC |
Company Contact | |
Address: | 5401 Kingston Pike Ste 600 KNOXVILLE TN 37919-5046 |
Tel: | N/A |
Website: | https://www.smartfinancialinc.com |
IR: | See website |
Key People | ||
Wesley M. Welborn Executive Chairman of the Board | William Y. Carroll President, Chief Executive Officer, Director | William Y. Carroll Vice Chairman of the Board |
Ronald J. Gorczynski Chief Financial Officer, Executive Vice President | Rebecca C. Boyd Executive Vice President , Chief People Officer of SmartBank | Gary Wayne Petty Executive Vice President, Chief Risk Officer |
Cynthia A. Cain Executive Vice President, Chief Accounting Officer of SmartBank | Rhett D. Jordan Executive Vice President, Chief Credit Officer of SmartBank |
Business Overview |
SmartFinancial, Inc. is the bank holding company for SmartBank (the Bank). The Bank is a full-service commercial bank with branches across Tennessee, Alabama, and Florida. The principal business of the Bank consists of attracting deposits from the general public and investing those funds, together with funds generated from operations and from principal and interest payments on loans, primarily in commercial loans, commercial and residential real estate loans, leases, consumer loans and residential and commercial construction loans. It also originates one to four family residential mortgage loans and generally enters into a commitment to sell these loans in the secondary market. SBK Insurance, Inc., a subsidiary of the Bank, provides insurance products in the property and casualty area, commercial, transportation, and life and health to their respective clients. The Bank provides a suite of commercial and consumer banking services to clients through about 42 full-service bank branches. |
Financial Overview |
For the three months ended 31 March 2024, SmartFinancial Inc interest income increased 12% to $59.8M. Net interest income after loan loss provision decreased 9% to $32.2M. Net income decreased 19% to $9.4M. Net interest income after loan loss provision reflects Tax Exempt-Securities available-for-sale decrease of less than 1% to $352K. Net income also reflects Deposits increase of 65% to $27M (expense). |
Employees: | 570 as of Dec 31, 2023 |
Reporting Currency: | U.S. Dollars |
Enterprise value: | N/A |
Annual revenue (TTM): | $224.65M as of Mar 31, 2024 |
EBITDA (TTM): | $47.57M as of Mar 31, 2024 |
Net annual income (TTM): | $26.45M as of Mar 31, 2024 |
Free cash flow (TTM): | N/A |
Net Debt Last Fiscal Year: | N/A |
Shares outstanding: | 17,056,704 as of Mar 31, 2024 |
TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization |