SMARTFINANCIAL INC. (SMBK)

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SMARTFINANCIAL INC.

SMBK • CIK 0001038773

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Interest and Fee Income, Loans and Leases	$186,479	$213,562	$248,666	$265,040
Interest Income (Expense), Net	$130,080	$137,350	$166,104	$181,463
Interest Income, Operating	$218,043	$251,119	$285,972	$302,454
Provision for Loan, Lease, and Other Losses	—	$4,018	$7,750	$9,961
Interest Income (Expense), after Provision for Loan Loss	$127,051	$132,197	$158,354	$171,502
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	$36,226	$45,459	$61,501	$70,976
Income Tax Expense (Benefit)	$7,633	$9,318	$11,154	$13,586
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$28,593	$36,141	$50,347	$57,390
Interest Income, Securities, Operating, Taxable	$16,665	$20,151	$20,161	$21,751
Interest Expense, Deposits	$84,260	$109,260	$114,747	$113,363
Interest Income, Securities, Operating, Tax Exempt	$1,418	$1,406	$1,726	$2,098
Interest Expense, Subordinated Notes and Debentures	$2,767	$3,434	$4,966	$7,242
InterestExpenseOperating	—	$113,769	$119,868	$120,991
Debt Securities, Available-for-sale, Gain (Loss)	$-6,801	$64	$-3,719	$-3,660
Investment Banking Revenue	$5,105	$5,945	$6,582	$6,893
Insurance Commissions and Fees	$4,684	$5,696	$4,016	$4,016
Gain (Loss) on Disposition of Business	—	—	$3,955	$3,955
Noninterest Income, Other	$6,329	$8,729	$8,409	$8,024
Noninterest Income	$22,325	$34,152	$34,352	$32,684
Labor and Related Expense	$65,749	$72,100	$78,297	$80,890
Federal Deposit Insurance Corporation Premium Expense	$3,156	$3,390	$4,002	$3,720
Foreclosed Real Estate Expense	$2,397	$2,823	$3,242	$3,424
Advertising Expense	$1,342	$1,321	$1,619	$1,642
Information Technology and Data Processing	$9,235	$9,930	$10,316	$10,126
Professional Fees	$3,443	$4,207	$4,775	$4,813
Amortization of Intangible Assets	$2,624	$2,425	$2,150	$1,926
Business Combination, Acquisition Related Costs	$110	$110	$1,326	$1,326
Other Noninterest Expense	$11,643	$11,077	$11,792	$11,790
Noninterest Expense	$113,150	$120,890	$131,205	$133,210
Weighted Average Number of Shares Outstanding, Basic	16,805,068	16,768,956	16,779,019	16,828,503
Weighted Average Number of Shares Outstanding, Diluted	16,911,185	16,875,456	16,896,519	16,979,407

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Cash and Due from Banks	$61,586	$96,508	$56,469	$82,869
Interest-bearing Deposits in Banks and Other Financial Institutions	$233,237	$277,005	$395,120	$290,803
Federal Funds Sold	$57,448	$14,057	$12,828	$5,715
Cash and Cash Equivalents, at Carrying Value	$352,271	$387,570	$464,417	$379,387
DebtSecuritiesAvailableForSaleExcludingAccruedInterest	$408,410	$482,328	$539,882	$560,065
DebtSecuritiesHeldToMaturityExcludingAccruedInterestAfterAllowanceForCreditLoss	$281,236	$126,659	$122,121	$119,848
Investment Owned, Restricted, Cost	$13,662	$14,740	$16,441	$17,529
FinancingReceivableExcludingAccruedInterestBeforeAllowanceForCreditLoss	$3,444,462	$3,906,340	$4,363,582	$4,682,935
FinancingReceivableAllowanceForCreditLossExcludingAccruedInterest	$35,066	$37,423	$40,906	$45,252
FinancingReceivableExcludingAccruedInterestAfterAllowanceForCreditLoss	$3,409,396	$3,868,917	$4,322,676	$4,637,683
Property, Plant and Equipment, Net	$92,963	$91,093	$88,387	$93,314
Repossessed Assets	$517	$179	$179	$144
Intangible Assets, Net (Including Goodwill)	—	—	$95,328	$94,417
Cash Surrender Value of Life Insurance	$83,434	$115,917	$119,525	$121,353
Other Assets	$75,932	$77,782	$81,168	$82,082
Assets	$4,829,387	$5,275,904	$5,860,810	$6,115,306
Secured Debt	$13,078	$8,135	$3,009	$603
Subordinated Debt	$42,099	$39,684	$98,662	$98,805
Other Liabilities	$46,470	$50,141	$53,858	$53,424
Liabilities	$4,369,501	$4,784,443	$5,308,318	$5,538,382
Stockholders' Equity Attributable to Noncontrolling Interest	—	$113	$113	$113
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	—	$491,461	$552,492	$576,924
Noninterest-bearing Deposit Liabilities	$898,044	$965,552	$1,062,918	$921,876
Demand Deposit Accounts	$1,006,915	$836,731	$945,716	$1,022,074
Deposits, Savings Deposits	$1,812,427	$2,039,560	$2,273,612	$2,454,805
Time Deposits	$550,468	$844,640	$870,543	$986,795
Deposits	$4,267,854	$4,686,483	$5,152,789	$5,385,550
Common Stock, Value, Issued	$16,989	$16,926	$17,029	$17,098
Additional Paid in Capital	$295,699	$294,269	$295,950	$296,841
Retained Earnings (Accumulated Deficit)	$173,105	$203,824	$248,719	$275,813
Accumulated Other Comprehensive Income (Loss), Net of Tax	$-25,907	$-23,671	$-9,319	$-12,941
Stockholders' Equity Attributable to Parent	$459,886	$491,348	$552,379	$576,811
Debt Securities, Held-to-maturity, Fair Value	$262,538	$108,080	$109,416	$106,546
Preferred Stock, Shares Authorized	2,000,000	2,000,000	2,000,000	2,000,000
Preferred Stock, Shares Issued	0	0	0	0
Common Stock, Shares Authorized	40,000,000	40,000,000	40,000,000	40,000,000
Common Stock, Shares, Issued	16,988,879	16,925,672	17,029,317	17,098,473

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$28,593	$36,141	$50,347	$57,390
Net Cash Provided by (Used in) Operating Activities	$39,716	$52,700	$61,724	$73,439
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	$85,847	$35,299	$76,847	$14,291
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$352,271	$387,570	$464,417	$387,504
Depreciation, Depletion and Amortization, Nonproduction	$10,874	$8,990	$7,590	$5,878
Proceeds from Sale of Debt Securities, Available-for-sale	$152,775	$152,775	$99,966	$99,966
Amortization of Intangible Assets	$2,624	$2,425	$2,150	$1,926
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-sale	$56,273	$57,985	$72,289	$79,501
Provision for Loan, Lease, and Other Losses	—	$4,018	$7,750	$9,961
Payments to Acquire Debt Securities, Available-for-sale	$130,584	$131,376	$215,345	$247,589
Share-based Payment Arrangement, Noncash Expense	$1,349	$1,629	$1,939	$1,976
Proceeds from Sale and Maturity of Held-to-maturity Securities	$2,494	$152,486	$2,474	$2,588
Debt Securities, Available-for-sale, Gain (Loss)	$-6,801	$64	$-3,719	$-3,660
Proceeds from Sale of Other Investments	$2,812	$5,960	$1,041	$4,206
Deferred Income Tax Expense (Benefit)	$1,309	$120	$-470	$-655
Payments to Acquire Restricted Investments	$944	$7,407	$6,319	$10,559
Bank Owned Life Insurance Income	$1,964	$2,483	$3,608	$3,656
Payment to Acquire Life Insurance Policy, Investing Activities	$40,000	$30,000	$30,000	$30,000
Gains (Losses) on Sales of Other Real Estate	$-78	$-994	$-632	$-782
Proceeds from Sales of Business, Affiliate and Productive Assets	—	—	$11,200	$11,200
Gain (Loss) on Sale of Mortgage Loans	$1,040	$1,463	$2,565	$3,125
Payments for (Proceeds from) Loans Receivable	$213,591	$469,247	$464,342	$565,523
Payments for Origination and Purchases of Loans Held-for-sale	$45,891	$49,845	$44,240	$51,929
Proceeds from Sale of Property, Plant, and Equipment	$682	$4,698	$123	$98
Proceeds from Sale of Mortgage Loans Held-for-sale	$44,265	$49,730	$41,936	$50,911
Payments to Acquire Property, Plant, and Equipment	$6,270	$6,405	$2,389	$8,083
Gain (Loss) on Disposition of Business	—	—	$3,955	$3,955
Proceeds from Sale of Foreclosed Assets	$1,113	$3,084	$2,254	$1,990
Gain (Loss) on Disposition of Property Plant Equipment	$-19	$1,647	$-14	$38
Net Cash Provided by (Used in) Investing Activities	$-135,240	$-420,222	$-499,048	$-618,893
Increase (Decrease) in Deposits	$190,887	$418,696	$466,338	$513,444
Increase (Decrease) in Federal Funds Purchased and Securities Sold under Agreements to Repurchase, Net	$303	$-944	$-1,126	$-2,363
Proceeds from Issuance of Long-term Debt	$26,275	$160,100	$2,500	$103,000
Repayments of Secured Debt	—	—	$6,500	$6,500
Payments of Dividends	$5,427	$5,422	$5,452	$5,638
Proceeds from Noncontrolling Interests	—	$113	$113	$113
Repayments of Subordinated Debt	—	—	$40,000	$40,000
Proceeds from Issuance of Common Stock	$108	$68	$153	$153
Payments for Repurchase of Common Stock	$1,208	$2,967	$2,967	$2,967
Net Cash Provided by (Used in) Financing Activities	$181,371	$402,821	$514,171	$559,745
Interest Paid, Excluding Capitalized Interest, Operating Activities	$85,443	$113,665	$116,443	$117,057
Income Taxes Paid	$9,347	$8,774	$12,390	$12,952
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Acquisition Through Foreclosure	$272	$179	$179	$179
Increase (Decrease) in Accrued Interest Receivable, Net	$2,989	$898	$1,450	$688
Increase (Decrease) in Interest Payable, Net	$2,520	$250	$3,425	$1,934
Increase (Decrease) in Other Operating Assets	$1,732	$-3,788	$-4,114	$-6,311
Increase (Decrease) in Other Operating Liabilities	$-8,129	$-120	$-5,604	$-3,244

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Import this data to Google Sheets with:

=jivedata("SMBK","financials")

Full statements spill as a table. For one cell: =jivedata("SMBK","Revenue") or =jivedata("SMBK","Revenue","TTM"). Install the Jive Data add-on, then paste into a cell.