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Sep 30, 2022
Smartfinancial Q3 2022 Earnings Report
Announced results for the third quarter of 2022, posting record revenue and strong EPS growth.
Key Takeaways
SmartFinancial, Inc. reported a net income of $11.5 million, or $0.68 per diluted common share, for Q3 2022, a notable increase compared to the previous quarter and the same period last year. The company also completed the asset purchase of Sunbelt Insurance.
Operating earnings of $11.6 million, or $0.69 per diluted common share
Operating earnings increased 13% compared to the previous quarter and 17% compared to the same prior year quarter
Net organic loan and lease growth of over $109.0 million, a 15% annualized quarter-over-quarter increase
Non-maturity deposit growth of over $42.0 million, a 4% annualized quarter-over-quarter increase