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Mar 31, 2020
Smartfinancial Q1 2020 Earnings Report
Reported net income of $2.7 million, or $0.19 per diluted common share, for the first quarter of 2020.
Key Takeaways
SmartFinancial, Inc. reported a net income of $2.7 million, or $0.19 per diluted common share, for Q1 2020. The company completed the acquisition of Progressive Financial Group, Inc. and saw loan growth (excluding loans acquired from PFG) of $53.9 million, or 11.4% annualized.
Completed the acquisition of Progressive Financial Group, Inc. ("PFG")
Net income of $2.7 million and net operating earnings of $4.3 million (Non-GAAP)
Return on average assets of 0.43% and net operating annualized return on average assets (Non-GAAP) of 0.67%
Asset quality remains strong with nonperforming assets to total assets of 0.31%
Smartfinancial
Smartfinancial
Smartfinancial Revenue by Segment
Revenue by Segment
Loans and Leases, including fees Revenue
CapyFin.comTaxable Securities Revenue
CapyFin.comTax-Exempt Securities Revenue
CapyFin.comFederal Funds Sold and Other Earning Assets Revenue
CapyFin.com Forward Guidance
The provided document does not contain any forward guidance.
Revenue & Expenses
Visualization of income flow from segment revenue to net income