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Mar 30
Smartfinancial Q1 2025 Earnings Report
SmartFinancial reported net income of $11.3 million, or $0.67 per diluted common share, for the first quarter of 2025.
Key Takeaways
SmartFinancial, Inc. delivered positive first quarter results with earnings and growth trends continuing their upward trajectory. The company reported net income of $11.3 million and operating earnings of $11.3 million. Loan and deposit growth were strong, and credit quality remained solid.
Net income for Q1 2025 was $11.3 million, an increase from $9.4 million in Q1 2024.
Diluted EPS for Q1 2025 was $0.67, up from $0.55 in Q1 2024.
Net organic loan and lease growth was $86 million, representing a 9% annualized quarter-over-quarter increase.
Deposit growth was $122 million, or 10% annualized quarter-over-quarter.
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.comService Charges on Deposit Accounts Revenue
CapyFin.comMortgage Banking Income Revenue
CapyFin.comInvestment Services Revenue
CapyFin.comInsurance Commissions Revenue
CapyFin.comInterchange and Debit Card Fees Revenue
CapyFin.comOther Noninterest Income Revenue
CapyFin.com Forward Guidance
SmartFinancial's forward-looking statements indicate continued growth and profitability, but acknowledge various risks that could impact future results.
Positive Outlook
- Continued positive first quarter results with earnings and growth trends continuing their upward trajectory.
- Markets remain resilient with ample opportunity, as demonstrated by 9% quarterly annualized loan growth.
- Capital base and balance sheet are well positioned.
- Asset quality remains solid with non-performing assets to total assets at only 0.19%.
- Tangible book value per share grew 9% annualized and efficiency ratio continued to improve.
Challenges Ahead
- Risks associated with growth strategy, including failure to implement growth plans or inability to manage growth effectively.
- Claims and litigation arising from business activities and acquisitions.
- General risks related to merger and acquisition activity, including future acquisitions.
- Prevailing, or changes in, economic or political conditions, including real estate market declines, high unemployment, inflationary pressures, elevated interest rates, and financial stress on borrowers.
- Increased technology and cybersecurity risks, including generative artificial intelligence risks.