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
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments552,3731,122,046481,719183,971115,822113,027
Cash and cash equivalents266,4241,045,077481,719183,971115,822113,027
Short-term investments 285,94976,969    
Financing receivable, accrued interest, after allowance for credit loss   
Total current assets:552,3731,122,046481,719183,971115,822113,027
Noncurrent Assets
Operating lease, right-of-use asset9,3149,8124,7975,470
Property, plant and equipment92,51185,95872,68259,43356,01243,000
Intangible assets, net (including goodwill)219,544211,704172,942154,372158,08158,800
Goodwill96,14591,56574,13565,60066,100 
Intangible assets, net (excluding goodwill)123,399120,13998,80788,77291,98158,800
Total noncurrent assets:321,369307,474250,421219,275214,093101,800
Other undisclosed assets3,763,7563,182,0592,572,8092,045,8771,944,4941,505,944
TOTAL ASSETS:4,637,4984,611,5793,304,9492,449,1232,274,4091,720,771
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt4,8005,1005,8006,20011,80024,055
Total current liabilities:4,8005,1005,8006,20011,80024,055
Noncurrent Liabilities
Other undisclosed liabilities4,200,2464,177,0492,941,9812,130,1761,979,5981,490,864
Total liabilities:4,205,0464,182,1492,947,7812,136,3761,991,3981,514,919
Equity
Equity, attributable to parent432,452429,430357,168312,747283,011205,852
Common stock16,90116,80315,10714,00813,93411,153
Additional paid in capital294,330292,937252,693232,732231,852174,009
Accumulated other comprehensive income (loss)(35,324)1,4432,183168(2,765)(1,198)
Retained earnings156,545118,24787,18565,83939,99121,889
Total equity:432,452429,430357,168312,747283,011205,852
TOTAL LIABILITIES AND EQUITY:4,637,4984,611,5793,304,9492,449,1232,274,4091,720,771

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

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues168,125130,684121,029110,05592,21053,540
Net investment income158,834125,232117,613108,45592,21052,022
Cost of revenue(4,018)(1,633)(8,683)(2,599)(2,936)(783)
Provision for loan, lease, and other losses(4,018)(1,633)(8,683)(2,599)(2,936)
Financial services costs(783)
Gross profit:164,107129,051112,346107,45689,27452,757
Operating expenses(12,928)(14,042)(12,833)(10,767)(12,261)(29,156)
Operating income:151,179115,00999,51396,68977,01323,601
Interest and debt expense(21,333)(11,838)(16,747)(24,575)(15,566)(5,693)
Income from continuing operations before equity method investments, income taxes:129,846103,17182,76672,11461,44717,908
Other undisclosed loss from continuing operations before income taxes(74,938)(58,852)(51,876)(38,669)(40,111)(6,464)
Income from continuing operations before income taxes:54,90844,31930,89033,44521,33611,444
Income tax expense(11,886)(9,529)(6,558)(6,897)(3,233)(6,429)
Income from continuing operations:43,02234,79024,33226,54818,1025,015
Income before gain (loss) on sale of properties:34,79024,33226,54818,1025,015
Net income attributable to parent:43,02234,79024,33226,54818,1025,015
Preferred stock dividends and other adjustments      (195)
Net income available to common stockholders, basic:43,02234,79024,33226,54818,1024,820
Other undisclosed net loss available to common stockholders, diluted     (0)(0)
Net income available to common stockholders, diluted:43,02234,79024,33226,54818,1024,820

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:43,02234,79024,33226,54818,1025,015
Other comprehensive income (loss)(36,767)(740)2,0152,933(1,567)1
Comprehensive income:6,25534,05026,34729,48116,5365,016
Other undisclosed comprehensive loss, net of tax, attributable to parent      (197)
Comprehensive income, net of tax, attributable to parent:6,25534,05026,34729,48116,5364,819

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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