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Dec 31, 2019
Smartfinancial Q4 2019 Earnings Report
Smartfinancial's earnings increased and acquisition of Progressive Savings Bank was announced.
Key Takeaways
SmartFinancial, Inc. reported a solid earnings track record with net income of $6.7 million and net operating earnings of $6.5 million for Q4 2019. The company's ROAA was 1.12%, and the operating efficiency ratio was 65.0%. The acquisition of Progressive Savings Bank was also announced, bolstering SmartFinancial's presence in Tennessee.
Net Operating Earnings (Non-GAAP) were $6.5 million, up 10% year-over-year.
ROAA was 1.12% and Net Operating ROAA (Non-GAAP) was 1.08%.
ROATCE (Non-GAAP) was 11.6% and Operating ROATCE (Non-GAAP) was 11.1%.
Operating Efficiency Ratio (Non-GAAP) was 65.0%.