SmartFinancial, Inc.

SmartFinancial, Inc. is the bank holding company for SmartBank, providing financial services to individuals and corporate customers in the United States. Its deposit products include noninterest-bearing and interest-bearing checking, savings, money market, and individual retirement accounts, as well as certificates of deposit. It also offers commercial and residential real estate, consumer real estate, construction and land development, commercial and industrial, and consumer loans, along with equipment financing leases to small and mid-size companies. Additional services include wealth management, insurance, mortgage origination, and internet and mobile banking. The company operates in Tennessee, Alabama, and Florida and is based in Knoxville, Tennessee.

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SmartFinancial reports Q2 GAAP EPS of $0.96 and revenue of $55.95 million

SmartFinancial announced second-quarter results with GAAP earnings per share of $0.96 and revenue of $55.95 million, a 13.4% increase year-over-year. Net organic loan and lease growth reached $165 million, representing a 15% annualized quarter-over-quarter increase, while core deposit growth was $83 million, or 6% annualized. Tangible book value per common share grew at a 13% annualized rate from the prior quarter. The company also noted that over 97% of SmartBank Associates recertified it as a Great Place to Work.

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