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SmartFinancial
SmartFinancial (SMBK) investor relations material
SmartFinancial Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary21 Jan, 2026
Executive summary
Achieved record annual operating earnings of over $51 million and $13.7 million for Q4 2025, with EPS of $0.81 per diluted share and $3.03 for 2025, up 46% from 2024.
Tangible book value per share rose to $26.85, up 13% annualized quarter over quarter and 17%-18% for the year.
Delivered seventh consecutive quarter of positive operating leverage and strong organic growth in loans and deposits, with 13% annualized loan growth and 8% annualized deposit growth in Q4.
Operating revenue grew 12% year-over-year to $200.2M, with noninterest income up 8% to $34.1M.
Announced expansion into Columbus, Georgia, leveraging existing relationships and market disruption.
Financial highlights
Net interest income for Q4 2025 was $45.1M, up 6% sequentially and 19% year-over-year; net interest margin increased to 3.38% in Q4.
Pre-provision net revenue for Q4 was $20.9M, with operating PPNR for 2025 at $70.3M, a 22% CAGR since 2023.
Loans grew 13% annualized quarter over quarter; deposits up 8% annualized, with core deposit balances up 14% for the year.
Non-performing assets remained low at 0.22% of total assets; net charge-offs to average loans at 8 basis points for 2025.
Operating efficiency ratio improved to 60.91% in Q4 and 64.4% for 2025, down from 70.7% in 2024.
Outlook and guidance
Targeting high single-digit loan growth (8%-9%) for 2026, with some quarters potentially exceeding 10%.
Non-interest expenses expected to grow about 5% year-over-year, staying within $34.5M-$35M.
Net interest margin expected to gradually rise to 3.5% by year-end 2026, assuming stable rates.
Internal goal set to achieve a $4 EPS run rate by end of 2026 ($1 per quarter in Q4).
Management expects continued EPS and tangible book value growth, leveraging infrastructure investments and focusing on commercial banking expansion.
What is the outlook for fountain equipment loans?
Future organic growth markets beyond Columbus?
What is the path to $4 EPS run rate by Q4 '26?
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Next SmartFinancial earnings date
Q1 202621 Apr, 2026
SmartFinancial
Next SmartFinancial earnings date
Q1 202621 Apr, 2026
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Frequently asked questions
SmartFinancial Inc. operates as a bank holding company providing commercial and consumer banking services. Its subsidiaries offer loans, deposit accounts, and financial services to individuals and small to medium-sized businesses. The company is headquartered in Knoxville, Tennessee, and its shares are listed on the NASDAQ.
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