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SmartFinancial (SMBK) investor relations material

SmartFinancial Q3 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2025 earnings summary22 Oct, 2025

Executive summary

  • Achieved $14.5 million in operating earnings ($0.86 per diluted share), up 24% sequentially and 58% year-over-year, with $50.8 million in total operating revenue, surpassing the $50 million quarterly revenue target ahead of schedule.

  • Tangible book value per share increased to $26.00, up over 26% annualized quarter-over-quarter and 15% year-over-year; book value per share rose to $31.62.

  • Sixth consecutive quarter of positive operating leverage, with strong organic growth in both loans and deposits.

  • Completed $4.0 million gain on sale of SBK Insurance, contributing to noninterest income and unlocking capital for future investments.

  • Continued focus on organic growth, talent acquisition, operational efficiency, and a strong culture recognized by Fortune's best workplaces.

Financial highlights

  • Net interest income was $42.4 million, up 5% sequentially and 21% year-over-year; net interest margin (tax equivalent) was 3.25%, down 4 bps from the prior quarter.

  • Loans grew at a 10% annualized rate and deposits at 15% annualized, with non-brokered deposits up $283 million (24% annualized).

  • Non-performing assets at 0.22% of total assets; net charge-offs to average loans at 10 bps annualized.

  • Allowance for credit losses at 0.93% of total loans.

  • Operating efficiency ratio improved to 63.6% from 65.7% in the prior quarter.

Outlook and guidance

  • Projecting Q4 net interest margin in the 3.3%-3.35% range, with margin expansion of 5-7 bps per quarter expected in 2026.

  • Non-interest income for Q4 expected at $7 million; non-interest expenses projected at $32.5-$33 million.

  • Loan growth guidance remains at high single digits to around 10% annualized.

  • Strategic actions, including the SBKI sale and debt issuance, are expected to support future growth.

  • Continued focus on positive operating leverage and expense containment, with 2026 non-interest expenses targeted at $34-$35 million.

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Frequently asked questions

SmartFinancial Inc. operates as a bank holding company providing commercial and consumer banking services. Its subsidiaries offer loans, deposit accounts, and financial services to individuals and small to medium-sized businesses. The company is headquartered in Knoxville, Tennessee, and its shares are listed on the NASDAQ.

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