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)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments238,898306,934552,373830,133943,3081,053,500
Cash and cash equivalents238,898306,934266,424543,029654,945763,968
Short-term investments   285,949287,104288,363289,532
Financing receivable, accrued interest, after allowance for credit loss10,50010,300    
Total current assets:249,398317,234552,373830,133943,3081,053,500
Noncurrent Assets
Operating lease, right-of-use asset10,3688,9639,3148,8899,1459,499
Property, plant and equipment92,35192,19092,51191,94489,95084,793
Intangible assets, net (including goodwill)216,878218,228219,544220,920209,164210,430
Goodwill96,14596,14596,14596,14591,56591,565
Intangible assets, net (excluding goodwill)120,733122,083123,399124,775117,599118,865
Total noncurrent assets:319,597319,381321,369321,753308,259304,722
Other undisclosed assets4,176,8054,133,1903,763,7563,645,0253,536,5463,360,357
TOTAL ASSETS:4,745,8004,769,8054,637,4984,796,9114,788,1134,718,579
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt4,9964,0464,8005,9235,0494,213
Total current liabilities:4,9964,0464,8005,9235,0494,213
Noncurrent Liabilities
Other undisclosed liabilities4,295,9574,322,3604,200,2464,376,2774,362,6374,294,324
Total liabilities:4,300,9534,326,4064,205,0464,382,2004,367,6864,298,537
Equity
Equity, attributable to parent444,847443,399432,452414,711420,427420,042
Common stock17,00417,00416,90116,88816,89816,893
Additional paid in capital295,296294,930294,330293,907293,815293,376
Accumulated other comprehensive loss(35,017)(28,620)(35,324)(40,807)(24,648)(15,556)
Retained earnings167,564160,085156,545144,723134,362125,329
Total equity:444,847443,399432,452414,711420,427420,042
TOTAL LIABILITIES AND EQUITY:4,745,8004,769,8054,637,4984,796,9114,788,1134,718,579

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

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Revenues54,86555,61449,58043,33137,37834,886
Net investment income52,09453,17847,31342,29736,30932,915
Cost of revenue
(Provision for Loan, Lease, and Other Losses)
(420)(550)(788)(974)(1,250)(1,006)
Gross profit:54,44555,06448,79242,35736,12833,880
Operating expenses(3,979)(3,325)(3,342)(3,719)(3,514)(3,636)
Operating income:50,46651,73945,45038,63832,61430,244
Interest and debt expense(20,519)(17,196)(9,701)(5,589)(3,247)(2,797)
Income from continuing operations before equity method investments, income taxes:29,94734,54335,74933,04929,36727,447
Other undisclosed loss from continuing operations before income taxes(18,765)(19,715)(19,216)(18,295)(16,252)(16,942)
Income from continuing operations before income taxes:11,18214,82816,53314,75413,11510,505
Income tax expense(2,346)(3,328)(3,529)(3,211)(2,900)(2,246)
Income from continuing operations:8,83611,50013,00411,54310,2158,259
Income before gain (loss) on sale of properties:11,54310,2158,259
Net income available to common stockholders, diluted:8,83611,50013,00411,54310,2158,259

Comprehensive Income ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Net income:8,83611,50013,00411,54310,2158,259
Other comprehensive income (loss)(6,397)6,7045,483(16,159)(9,092)(16,999)
Comprehensive income (loss), net of tax, attributable to parent:2,43918,20418,487(4,616)1,123(8,740)

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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