Q2 2026 SmartFinancial Inc Earnings Call Transcript
Key Points
- SmartFinancial Inc (SMBK) reported strong organic growth with a 15% annualized increase in loans and a 6% annualized growth in core deposits.
- The company achieved a tangible book value per share increase to $28.22, up from $26.86 at year-end.
- Operating earnings for the quarter were $16.3 million, or $0.96 per diluted share, with total revenue of $55.9 million.
- Non-performing assets were reduced to 23 basis points, indicating strong credit performance.
- SmartFinancial Inc (SMBK) crossed the $6 billion asset mark, demonstrating strategic and profitable growth.
- Deposit growth was outpaced by loan growth, necessitating the use of $106 million in short-term brokered deposits.
- Interest-bearing deposit costs rose by 2 basis points to 2.62%, with expectations of continued pressure on funding costs.
- The net interest margin is expected to face pressure in the near term due to elevated competition for deposits.
- Operating non-interest expenses increased slightly, driven by salary and benefit expenses, and are expected to grow further.
- The company anticipates a potential reduction in third-quarter margin due to near-term deposit cost pressures.
Hello, everyone.
Thank you for joining us and welcome to the Smart Financial Second Quarter 2026 Earnings Release and Conference Call. After today's prepared remarks, we will host a question-and-answer session. If you would like to ask a question, please press star 1 to raise your hand. To withdraw your question, press star 1 again.
I will now hand over to Nate Strahl, Director of Investor Relations, to begin.
Please go ahead.
Thanks, Erica. Good morning, everyone, and thank you for joining us for Smart Financial's Second Quarter 2026 Earnings Webcast and Conference Call.
During today's call, we will reference the slides and earnings release available in the Investor Relations section of our website at smartbank.com.
Millie Carroll, our President and Chief Executive Officer, will begin the call, followed by Ron Gorzynski, our Chief Financial Officer, who will provide additional commentary. We will be available after the call to answer your questions
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