SmartFinancial Inc. Reports Q1 Net Income of $13.7 Million

By Chris Stiles • Monday, April 20 16:18 • Permanent Link

SmartFinancial reported first-quarter 2026 net income of $13.7 million, or $0.81 per diluted share, up from $11.3 million, or $0.67 per share, in the first quarter of 2025. Earnings were unchanged from the prior quarter, when net income was also $13.7 million, or $0.81 per share.

Net interest income rose to $45.9 million from $45.1 million in the fourth quarter of 2025. The company’s tax-equivalent net interest margin widened to 3.48% from 3.38% sequentially, a gain of 10 basis points.

Average earning assets increased by $47.1 million from the prior quarter to $5.39 billion. Within that total, average loans and leases climbed $138.7 million and average securities rose $5.7 million, while average federal funds sold and other earning assets fell $97.3 million.

Average interest-bearing liabilities increased $66.9 million quarter over quarter, driven by a $66.8 million increase in average interest-bearing deposits.

SmartFinancial said net organic loan and lease growth was $155 million in the quarter, equal to a 14% annualized quarter-over-quarter increase. Deposit growth, excluding brokered deposits, was $95 million, or 7% annualized quarter over quarter.

The allowance for credit losses to total loans and leases increased 3 basis points to 0.97% after a model change. Today the company's shares have moved 0.42% to a price of $38.59. If you want to know more, read the company's complete 8-K report here.

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