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SmartFinancial, Inc. operates as the bank holding company for SmartBank that provides various financial services to individuals and corporate customers in the United States. The company offers various deposits, including noninterest-bearing and interest-bearing checking, savings, money market, and individual retirement accounts, as well as certificates of deposit. It also provides commercial and residential real estate, consumer real estate, construction and land development, commercial and industrial, and consumer and other loans, as well as leases to small and mid-size companies for equipment financing leases. In addition, the company offers wealth management, insurance, mortgage origination, and internet and mobile banking services. It operates in Tennessee, Alabama, and Florida. SmartFinancial, Inc. is based in Knoxville, Tennessee.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $197M | - | $50M | $59M | 9.1% | 14.6% | 39.3% |
| 2024 | $172M | - | $36M | $46M | 7.4% | 12.5% | 26.4% |
| 2023 | $152M | - | $29M | $33M | 6.2% | -7.8% | -33.5% |
| 2022 | $165M | - | $43M | $44M | 9.9% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 165.22 | 152.40 | 171.50 | 196.50 |
| Operating Revenue | - | 165.22 | 152.40 | 171.50 | 196.50 |
| Selling General And Administration | - | 67.39 | 70.25 | 76.81 | 83.92 |
| Interest Income | - | 158.83 | 218.04 | 251.12 | 285.97 |
| Interest Expense | - | 21.33 | 87.96 | 113.77 | 119.87 |
| Net Interest Income | - | 137.50 | 130.08 | 137.35 | 166.10 |
| Pretax Income | - | 54.91 | 36.23 | 45.46 | 61.50 |
| Tax Provision | - | 11.89 | 7.63 | 9.32 | 11.15 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -0.12 | -0.02 | 0 | 0.48 |
| Net Income Continuous Operations | - | 43.02 | 28.59 | 36.14 | 50.35 |
| Net Income From Continuing And Discontinued Operation | - | 43.02 | 28.59 | 36.14 | 50.35 |
| Net Income From Continuing Operation Net Minority Interest | - | 43.02 | 28.59 | 36.14 | 50.35 |
| Net Income | - | 43.02 | 28.59 | 36.14 | 50.35 |
| Net Income Common Stockholders | - | 43.02 | 28.59 | 36.14 | 50.35 |
| Net Income Including Noncontrolling Interests | - | 43.02 | 28.59 | 36.14 | 50.35 |
| Normalized Income | - | 43.46 | 28.68 | 36.14 | 48.19 |
| Diluted NI Availto Com Stockholders | - | 43.02 | 28.59 | 36.14 | 50.35 |
| Basic Average Shares | - | 16.74 | 16.81 | 16.77 | 16.78 |
| Diluted Average Shares | - | 16.87 | 16.91 | 16.88 | 16.90 |
| Reconciled Depreciation | - | 12.64 | 13.50 | 11.42 | 9.74 |
| Total Unusual Items | - | -0.56 | -0.11 | 0 | 2.63 |
| Total Unusual Items Excluding Goodwill | - | -0.56 | -0.11 | 0 | 2.63 |
| Special Income Charges | - | -0.56 | -0.11 | 0 | 2.63 |
| Gain On Sale Of Business | - | - | 0 | 0 | 3.96 |
| Restructuring And Mergern Acquisition | - | 0.56 | 0.11 | 0 | 1.33 |
| Gain On Sale Of Security | - | 0.14 | -6.80 | 0.06 | -3.72 |
| Depreciation Amortization Depletion Income Statement | - | 2.61 | 2.62 | 2.42 | 2.15 |
| Depreciation And Amortization In Income Statement | - | 2.61 | 2.62 | 2.42 | 2.15 |
| General And Administrative Expense | - | 66.09 | 68.90 | 75.49 | 82.30 |
| Other Gand A | 6.36 | - | - | - | - |
| Salaries And Wages | - | 63.42 | 65.75 | 72.10 | 78.30 |
| Insurance And Claims | - | 2.67 | 3.16 | 3.39 | 4 |
| Selling And Marketing Expense | - | 1.29 | 1.34 | 1.32 | 1.62 |
| Amortization | - | 2.61 | 2.62 | 2.42 | 2.15 |
| Amortization Of Intangibles Income Statement | - | 2.61 | 2.62 | 2.42 | 2.15 |
| Occupancy And Equipment | - | 12.03 | 13.45 | 13.62 | 13.69 |
| Professional Expense And Contract Services Expense | - | 3.79 | 3.44 | 4.21 | 4.78 |
| Other Non Interest Expense | - | 19.91 | 23.28 | 23.83 | 25.35 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| SmartFinancial, Inc.this co. | SMBK | $712M | 14.13↑ premium | 1.29 | 9.1% | - |
| Orrstown Financial Services, Inc. | ORRF | $736M | 9.11 | 1.24 | 13.7% | - |
| Navient Corporation | NAVI | $730M | - | 0.30 | -3.3% | - |
| Green Dot Corporation | GDOT | $726M | -7.34 | 0.82 | -11.1% | -5.47 |
| Alerus Financial Corporation | ALRS | $721M |
| - |
| - |
| - |
| - |
| - |
| 41.37 |
| 1.28 |
| 3.1% |
| - |
| Financial Institutions, Inc. | FISI | $721M | 9.63 | 1.18 | 12.2% | - |
| Independent Bank Corporation | IBCP | $705M | 10.28 | 1.40 | 13.6% | - |
| Shore Bancshares, Inc. | SHBI | $695M | 11.68 | 1.18 | 10.1% | - |
| Velocity Financial, Inc. | VEL | $685M | 6.52 | 1.02 | 15.6% | - |
| Peer Median | - | 9.63 | 1.18 | 11.2% | -5.47 | |