SmartFinancial Inc. (SMBK) Financial Statements (2024 and earlier)

Company Profile

Business Address 5401 KINGSTON PIKE
KNOXVILLE, TN 37919
State of Incorp. TN
Fiscal Year End December 31
Industry (SIC) 6021 - National Commercial Banks (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

3/31/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments352,271552,3731,122,046481,719183,971115,822
Cash and cash equivalents352,271266,4241,045,077481,719183,971115,822
Short-term investments  285,94976,969   
Financing receivable, accrued interest, after allowance for credit loss 12,500   
Total current assets:364,771552,3731,122,046481,719183,971115,822
Noncurrent Assets
Operating lease, right-of-use asset9,8949,3149,8124,7975,470
Property, plant and equipment92,96392,51185,95872,68259,43356,012
Intangible assets, net (including goodwill)214,296219,544211,704172,942154,372158,081
Goodwill96,14596,14591,56574,13565,60066,100
Intangible assets, net (excluding goodwill)118,151123,399120,13998,80788,77291,981
Total noncurrent assets:317,153321,369307,474250,421219,275214,093
Other undisclosed assets4,147,4633,763,7563,182,0592,572,8092,045,8771,944,494
TOTAL ASSETS:4,829,3874,637,4984,611,5793,304,9492,449,1232,274,409
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt5,1004,8005,1005,8006,20011,800
Total current liabilities:5,1004,8005,1005,8006,20011,800
Noncurrent Liabilities
Other undisclosed liabilities4,364,4014,200,2464,177,0492,941,9812,130,1761,979,598
Total liabilities:4,369,5014,205,0464,182,1492,947,7812,136,3761,991,398
Equity
Equity, attributable to parent459,886432,452429,430357,168312,747283,011
Common stock16,98916,90116,80315,10714,00813,934
Additional paid in capital295,699294,330292,937252,693232,732231,852
Accumulated other comprehensive income (loss)(25,907)(35,324)1,4432,183168(2,765)
Retained earnings173,105156,545118,24787,18565,83939,991
Total equity:459,886432,452429,430357,168312,747283,011
TOTAL LIABILITIES AND EQUITY:4,829,3874,637,4984,611,5793,304,9492,449,1232,274,409

Income Statement (P&L) ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues228,872168,125130,684121,029110,05592,210
Net investment income218,043158,834125,232117,613108,45592,210
Cost of revenue
(Provision for Loan, Lease, and Other Losses)
(3,800)(4,018)(1,633)(8,683)(2,599)(2,936)
Gross profit:225,072164,107129,051112,346107,45689,274
Operating expenses(14,130)(12,928)(14,042)(12,833)(10,767)(12,261)
Operating income:210,942151,179115,00999,51396,68977,013
Interest and debt expense(87,963)(21,333)(11,838)(16,747)(24,575)(15,566)
Income from continuing operations before equity method investments, income taxes:122,979129,846103,17182,76672,11461,447
Other undisclosed loss from continuing operations before income taxes(86,753)(74,938)(58,852)(51,876)(38,669)(40,111)
Income from continuing operations before income taxes:36,22654,90844,31930,89033,44521,336
Income tax expense(7,633)(11,886)(9,529)(6,558)(6,897)(3,233)
Income from continuing operations:28,59343,02234,79024,33226,54818,102
Income before gain (loss) on sale of properties:34,79024,33226,54818,102
Net income available to common stockholders, basic:28,59343,02234,79024,33226,54818,102
Other undisclosed net loss available to common stockholders, diluted      (0)
Net income available to common stockholders, diluted:28,59343,02234,79024,33226,54818,102

Comprehensive Income ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income:28,59343,02234,79024,33226,54818,102
Other comprehensive income (loss)9,417(36,767)(740)2,0152,933(1,567)
Comprehensive income, net of tax, attributable to parent:38,0106,25534,05026,34729,48116,536

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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