Smartfinancial, Inc. Reports Earnings Results for the Fourth Quarter Ended December 31, 2020
January 19, 2021 at 10:11 pm
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SmartFinancial, Inc. announced earnings results for the fourth quarter ended December 31, 2020. For the fourth quarter, the company announced net interest income was USD 26.506 million compared to USD 21.104 million a year ago. Net income was USD 9.030 million compared to USD 6.733 million a year ago. Basic earnings per share from continuing operations was USD 0.6 compared to USD 0.48 a year ago. Diluted earnings per share from continuing operations was USD 0.59 compared to USD 0.48 a year ago. For the full year, net income was USD 24.332 million compared to USD 26.548 million a year ago. Basic earnings per share from continuing operations was USD 1.63 compared to USD 1.9 a year ago. Diluted earnings per share from continuing operations was USD 1.62 compared to USD 1.89 a year ago.
SmartFinancial, Inc. is the bank holding company for SmartBank (the Bank). The Bank is a full-service commercial bank with branches across Tennessee, Alabama, and Florida. The principal business of the Bank consists of attracting deposits from the general public and investing those funds, together with funds generated from operations and from principal and interest payments on loans, primarily in commercial loans, commercial and residential real estate loans, leases, consumer loans and residential and commercial construction loans. It also originates one to four family residential mortgage loans and generally enters into a commitment to sell these loans in the secondary market. SBK Insurance, Inc., a subsidiary of the Bank, provides insurance products in the property and casualty area, commercial, transportation, and life and health to their respective clients. The Bank provides a suite of commercial and consumer banking services to clients through about 42 full-service bank branches.
SMARTFINANCIAL, INC. 
