SmartFinancial, Inc. reported significant financial growth in its latest quarterly filing, with net income reaching $13.7 million, or $0.81 per diluted share, for the third quarter of 2025. This marks a 49% increase from the $9.1 million, or $0.54 per diluted share, reported in the same quarter of 2024. For the first nine months of 2025, net income totaled $36.6 million, up from $26.5 million in the prior year, reflecting a 38% increase. The company's net interest income after provision for credit losses also saw a substantial rise, increasing by $9.7 million in the third quarter and $20.8 million year-to-date, driven by higher loan balances and improved yields.
The company experienced notable changes in its balance sheet compared to the previous fiscal period. Total assets increased to $5.78 billion as of September 30, 2025, up from $5.28 billion at the end of 2024. Loans and leases net of allowances rose to $4.18 billion, a $314 million increase from the previous year. Deposits also grew significantly, totaling $5.05 billion, an increase of $364 million, primarily due to growth in money market and interest-bearing demand deposits.
Strategically, SmartFinancial made significant moves during the quarter, including the sale of its insurance subsidiary, SBK Insurance, for $11.5 million, resulting in a pre-tax gain of approximately $4 million. Additionally, the company issued $100 million in subordinated debt to retire existing debt and support further growth. The company also repositioned $85 million of available-for-sale securities, which resulted in a pre-tax loss of $3.9 million.
Operationally, SmartFinancial's customer base and engagement metrics showed positive trends. The company reported an increase in average interest-earning assets, which rose to $5.23 billion in the third quarter, up from $4.53 billion in the same period last year. The tax equivalent net interest margin improved to 3.25%, compared to 3.11% in the prior year. The company’s allowance for credit losses stood at $39.1 million, representing 0.93% of total loans and leases, indicating a stable credit quality despite the growth in the loan portfolio.
Looking ahead, SmartFinancial remains optimistic about its growth trajectory, supported by its strong capital ratios, which exceed regulatory requirements. The company is focused on leveraging its recent strategic initiatives to enhance its market position and continue expanding its lending and deposit services across its operational regions in Tennessee, Alabama, and Florida.
About SMARTFINANCIAL INC.
SmartFinancial, Inc. is a Tennessee-based bank holding company primarily owning and operating SmartBank, a community bank offering commercial, real estate, consumer loans, and deposit services across Tennessee, Alabama, and Florida. It provides financial products, investment, and insurance services, focusing on community banking, disciplined growth, and regulatory compliance. The company emphasizes credit risk management, capital adequacy, and a customer-centric approach in competitive regional markets.
About 10-Q Filings
A 10-Q form is an important financial report that public companies in the United States must submit every three months. It gives a clear picture of a company's financial health and recent performance.
Key points about the 10-Q:
- Frequency: Companies file it three times a year, covering the first three quarters. The fourth quarter is covered in a more comprehensive annual report.
-
Content: It includes:
- Financial statements showing the company's current financial position
- Updates from management on the performance and projections of the business
- Information about potential risks the company faces
- Details on how the company is run internally
- Deadline: Must be filed within 40 or 45 days after the quarter ends, depending on the size of the company.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.