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Dec 31, 2021
Smartfinancial Q4 2021 Earnings Report
Announced results for the fourth quarter, showing net income of $6.7 million and operating earnings of $8.7 million.
Key Takeaways
SmartFinancial, Inc. reported a solid fourth quarter in 2021, with net income reaching $6.7 million, or $0.40 per diluted common share. Operating earnings totaled $8.7 million, or $0.52 per diluted common share. The company experienced strong organic loan and deposit growth.
Operating earnings of $0.52 per diluted common share for the 2021 fourth quarter
Net organic loan growth of over $75 million, a 12% annualized quarter-over-quarter increase
Tangible book value per share of $19.26, a 4.8% annualized quarter-over-quarter increase
Completion of Sevier County Bancshares, Inc. integration with near full realization of operational efficiencies
Forward Guidance
SmartFinancial is well-positioned for 2022 with investments made in 2021 and a strong team in place.
Positive Outlook
- Strategic Nashville, TN MSA enhancement with several senior relationship manager hires
- Gulf Coast Wealth Management team lift-out previously responsible for managing ~$350 million in AUM
- Completion of Sevier County Bancshares, Inc. integration; five branch closures with near full realization of operational efficiencies
- Opening of Mobile, AL branch office and application approval of Auburn, Dothan and Montgomery branch offices
- Opening of Birmingham, AL loan production office
Historical Earnings Impact
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Avg. Return Before/After Earnings
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