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Jun 30, 2023
Smartfinancial Q2 2023 Earnings Report
Net income decreased due to headwinds related to deposit pricing.
Key Takeaways
SmartFinancial reported net income of $8.8 million, or $0.52 per diluted common share, for the second quarter of 2023. The results reflect the strength of the balance sheet and focus on expense management.
Operating earnings of $8.8 million, or $0.52 per diluted common share.
Net organic loan and lease growth of $56 million - 7% annualized quarter-over-quarter increase.
Credit quality remains solid with nonperforming assets to total assets of 0.12%.
Addition of seasoned wealth management team in Dothan, Alabama.
Smartfinancial
Smartfinancial
Smartfinancial Revenue by Segment
Revenue by Segment
Service Charges on Deposit Accounts Revenue
CapyFin.comInvestment Services Revenue
CapyFin.comInsurance Commissions Revenue
CapyFin.comInterchange and Debit Card Fees Revenue
CapyFin.com Forward Guidance
Company did not provide forward guidance in the earnings report.