NYSE$SMBK
Smartfinancial Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Net income decreased due to a loss on securities sale, while strategic balance sheet optimization and growth in loans and deposits were achieved.
SmartFinancial reported net income of $2.1 million for Q3 2023, a decrease compared to both the previous quarter and the same quarter last year. The results were impacted by a loss on the sale of securities as part of a balance sheet optimization strategy, though the company saw net organic loan and lease growth and deposit growth.
- Operating earnings of $7.2 million, or $0.43 per diluted common share
- Repositioned $159.6 million of available-for-sale securities into higher yielding assets
- Net organic loan and lease growth of $42 million, representing 5% annualized quarter-over-quarter increase
- Credit quality remained solid, with nonperforming assets to total assets at 0.12%
Headline financials
Revenue & EPS history
Smartfinancial · Revenue · Quarterly
$31.7M
Revenue by segment
Smartfinancial · $28M total across 4 segments · Q1 2020
- Loans incl. fees$26.4M—94.4%
- Taxable securities$679K—2.4%
- Fed funds & other assets$602K—2.2%
- Tax-exempt securities$283K—1.0%
Forward guidance
SmartFinancial anticipates continued revenue expansion and expresses optimism about the company's outlook, despite recent Fed rate increases.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2023
+0.7%
Avg return
Earnings day
+1.5%
Avg return
5 days after
+3.9%
Avg return
30 days after
55%
36 / 66 earnings
Positive
+14.3%
Q1 2011
Best reaction
-18.4%
Q3 2010
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -4.7% | -1.4% | -2.8% | |
| Q4 2025 | +3.1% | +0.2% | +7.1% | |
| Q3 2025 | +3.1% | +0.0% | +1.3% | |
| Q2 2025 | -0.9% | -2.0% | +2.6% | |
| Q1 2025 | +6.7% | +6.2% | +10.4% | |
| Q4 2024 | +10.1% | +12.5% | +12.5% | |
| Q3 2024 | -0.1% | +1.9% | +14.7% | |
| Q2 2024 | +5.0% | +6.1% | +2.8% | |
| Q1 2024 | +1.6% | +3.8% | +17.4% | |
| Q4 2023 | +2.4% | +6.0% | -4.0% | |
| Q3 2023 | -2.2% | -1.5% | +3.3% | |
| Q2 2023 | -1.8% | -0.5% | -6.1% | |
| Q1 2023 | -0.7% | -1.6% | -0.4% | |
| Q4 2022 | +0.5% | -2.9% | -0.1% | |
| Q3 2022 | +4.0% | +8.8% | +8.3% | |
| Q2 2022 | +2.8% | +7.9% | +7.8% | |
| Q1 2022 | -1.8% | -2.0% | -0.1% | |
| Q4 2021 | +1.7% | +0.7% | -1.0% | |
| Q3 2021 | +0.6% | +2.2% | +4.0% | |
| Q2 2021 | +2.9% | +2.6% | +3.5% | |
| Q1 2021 | +0.8% | +3.8% | +6.5% | |
| Q4 2020 | +1.9% | +3.6% | +4.6% | |
| Q3 2020 | -1.5% | +2.3% | +20.8% | |
| Q2 2020 | +1.7% | +0.3% | +2.6% | |
| Q1 2020 | +12.3% | +10.1% | +5.5% | |
| Q4 2019 | -1.5% | +0.3% | -8.0% | |
| Q3 2019 | -1.5% | -0.3% | +8.4% | |
| Q2 2019 | +1.3% | -0.3% | -13.2% | |
| Q1 2019 | +7.0% | +5.5% | +8.0% | |
| Q4 2018 | -0.3% | +5.9% | +11.3% | |
| Q3 2018 | -9.1% | -8.8% | -8.2% | |
| Q2 2018 | -2.6% | -5.6% | -3.8% | |
| Q1 2018 | +0.1% | +0.1% | +4.9% | |
| Q4 2017 | +2.5% | -0.0% | +0.8% | |
| Q3 2017 | +0.0% | -2.1% | +3.7% | |
| Q2 2017 | +3.0% | -0.3% | +3.1% | |
| Q4 2016 | -0.2% | -2.4% | +5.0% | |
| Q1 2017 | -0.2% | -2.4% | +5.0% | |
| Q3 2016 | +1.4% | +2.8% | +12.6% | |
| Q2 2016 | +1.3% | -0.3% | +4.9% | |
| Q1 2016 | +0.9% | — | — | |
| Q4 2015 | +0.5% | — | — | |
| Q3 2015 | +0.6% | — | — | |
| Q2 2015 | +1.3% | — | — | |
| Q1 2015 | +4.4% | — | — | |
| Q4 2014 | -3.8% | — | — | |
| Q3 2014 | +0.0% | — | — | |
| Q2 2014 | +0.0% | — | — | |
| Q1 2014 | +0.4% | — | — | |
| Q4 2013 | +6.8% | — | — | |
| Q3 2013 | +0.0% | — | — | |
| Q2 2013 | +0.0% | — | — | |
| Q1 2013 | +0.0% | — | — | |
| Q4 2012 | +0.0% | — | — | |
| Q3 2012 | +6.7% | — | — | |
| Q2 2012 | -6.4% | — | — | |
| Q1 2012 | +14.3% | — | — | |
| Q1 2011 | +14.3% | — | — | |
| Q4 2009 | +11.1% | — | — | |
| Q4 2011 | +11.1% | — | — | |
| Q3 2011 | -18.4% | — | — | |
| Q3 2010 | -18.4% | — | — | |
| Q4 2010 | -8.2% | — | — | |
| Q2 2011 | -8.2% | — | — | |
| Q2 2010 | -8.2% | — | — | |
| Q1 2010 | -2.0% | — | — |
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