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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% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 165.22 | 152.41 | 171.50 | 196.50 |
| Pretax Income | 54.91 | 36.23 | 45.46 | 61.50 |
| Tax Provision | 11.89 | 7.63 | 9.32 | 11.15 |
| Net Income | 43.02 | 28.59 | 36.14 | 50.35 |
| Net Income Common Stockholders | 43.02 | 28.59 | 36.14 | 50.35 |
| Interest Expense | 21.33 | 87.96 | 113.77 | 119.87 |
| Interest Income | 158.83 | 218.04 | 251.12 | 285.97 |
| Selling General And Administration | 67.39 | 70.25 | 76.81 | 83.92 |
| Normalized Income | 43.46 | 28.68 | 36.14 | 48.19 |
| Basic EPS | 2.57 | 1.70 | 2.16 | 0 |
| Diluted EPS | 2.55 | 1.69 | 2.14 | 0 |
| Tax Effect Of Unusual Items | -0.12 | -0.02 | 0 | 0.48 |
| Tax Rate For Calcs | 0.22 | 0.21 | 0.20 | 0.18 |
| Total Unusual Items | -0.56 | -0.11 | 0 | 2.63 |
| Total Unusual Items Excluding Goodwill | -0.56 | -0.11 | 0 | 2.63 |
| Net Income From Continuing Operation Net Minority Interest | 43.02 | 28.59 | 36.14 | 50.35 |
| Reconciled Depreciation | 12.64 | 13.50 | 11.41 | 9.74 |
| Net Interest Income | 137.50 | 130.08 | 137.35 | 166.10 |
| Net Income From Continuing And Discontinued Operation | 43.02 | 28.59 | 36.14 | 50.35 |
| Diluted Average Shares | 16.87 | 16.91 | 16.88 | 0 |
| Basic Average Shares | 16.74 | 16.81 | 16.77 | 0 |
| Diluted NI Availto Com Stockholders | 43.02 | 28.59 | 36.14 | 50.35 |
| Net Income Including Noncontrolling Interests | 43.02 | 28.59 | 36.14 | 50.35 |
| Net Income Continuous Operations | 43.02 | 28.59 | 36.14 | 50.35 |
| Special Income Charges | -0.56 | -0.11 | 0 | 2.63 |
| Gain On Sale Of Business | 0 | 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 |
| Amortization | 2.61 | 2.62 | 2.42 | 2.15 |
| Amortization Of Intangibles Income Statement | 2.61 | 2.62 | 2.42 | 2.15 |
| Selling And Marketing Expense | 1.29 | 1.34 | 1.32 | 1.62 |
| General And Administrative Expense | 66.09 | 68.91 | 75.49 | 82.30 |
| Other Gand A | 0 | 0 | 0 | 0 |
| Insurance And Claims | 2.67 | 3.16 | 3.39 | 4 |
| Salaries And Wages | 63.42 | 65.75 | 72.10 | 78.30 |
| Operating Revenue | 165.22 | 152.41 | 171.50 | 196.50 |
| 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 | 23.27 | 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 | $714M | 13.38↑ premium | 1.29 | 9.1% | - |
| Velocity Financial, Inc. | VEL | $752M | 6.97 | 1.11 | 15.5% | - |
| Southern Missouri Bancorp, Inc. | SMBC | $751M | 11.80 | 1.34 | 10.8% | - |
| Great Southern Bancorp, Inc. | GSBC | $741M | 10.72 | 1.16 | 11.2% | - |
| Peapack-Gladstone Financial Corporation | PGC |
| $737M |
| 16.84 |
| 1.10 |
| 5.7% |
| - |
| Hippo Holdings Inc. | HIPO | $735M | 12.71 | 1.66 | 13.2% | -18.50 |
| Orrstown Financial Services, Inc. | ORRF | $717M | 8.36 | 1.20 | 13.7% | - |
| Green Dot Corporation | GDOT | $681M | - | 0.76 | -11.1% | - |
| LendingTree, Inc. | TREE | $675M | 4.49 | 2.32 | 52.8% | 11.25 |
| Peer Median | - | 10.72 | 1.18 | 12.2% | -3.63 | |