SmartFinancial, Inc. (SMBK) SEC Filings & Earnings Calls

Net interest margin compression due to rising deposit costs; cost of interest-bearing deposits increased 9 bps QoQ.

“The cost of average interest-bearing deposits was 2.71% for the third quarter of 2026, compared to 2.62% for the prior quarter, an increase of 9 basis points.” · word for word

Credit Loss Cycle Risk

“Provision for credit losses increased to $5.6M in H1 2026 from $3.4M in H1 2025, driven by loan growth and model enhancement.”

Noninterest Income Decline

“Noninterest income decreased by $1.0 million during the second quarter of 2026 compared to the same period in 2025.” · word for word

Cost of total deposits increased slightly QoQ from 2.12% to 2.15%, indicating modest funding cost pressure.

“The cost of total deposits for Q2 2026 was 2.15%, compared to 2.12% in the prior quarter.”

Credit loss cycle

“Provision for credit losses increased to $4.1 million from $979 thousand in the prior year period.”

Noninterest income decline

“Noninterest income decreased by $656 thousand during the first quarter of 2026 compared to the same period in 2025.” · word for word

ACL model change increased allowance to 0.97% from 0.94%; provision elevated but expected to normalize next quarter.

“changes were made to SmartBank's ACL loss model... allowance for credit losses to total loans and leases rose to 0.97%” · word for word

Related party transactions

“Aggregate principal amount of loan exposure outstanding to directors, executive officers, and affiliates was approximately $35.1 million as of December 31, 2025.” · word for word

Concentration in real estate loans

“Loans secured by real estate, consisting of commercial and residential property, are the principal component of our loan and lease portfolio.”

No material risks identified; internal promotion reduces execution risk.

“Internal promotion with 30 years of experience; no family relationships or transactions disclosed.”

Credit Loss Risk

“Provision for credit losses increased from $5.2M to $7.8M, indicating potential credit quality deterioration.”

Interest Rate Risk

“The bank's net interest income is sensitive to interest rate changes, though the filing does not quantify the impact.”

No material risks; capital return program is discretionary and can be suspended.

“The 2026 Repurchase Program does not obligate SmartFinancial to repurchase any particular amount of common stock and may be extended, modified, amended, suspended, or discontinued by the Board at any time.” · word for word

Credit quality stable with slight increase in ACL ratio to 0.94%.

“Allowance for credit losses to total loans and leases was 0.94% as of December 31, 2025, and 0.93% as of September 30, 2025.” · word for word

Net charge-offs increased to $1.9M from $1.1M QoQ, but still manageable.

“Net charge-offs of $1,892 thousand in Q4 2025 vs $1,053 thousand in Q3 2025.”

No new risk; extension of exchange offer is administrative.

“Exchange Offer will now expire at 5:00 p.m., New York City time, on January 9, 2026, unless further extended.” · word for word

Restructuring expenses

“Restructuring expenses 1,310 — 1,310” · word for word

Nonperforming loans increase

“Nonperforming loans and leases, as a percentage of total gross loans and leases, net of deferred fees, was 0.24% as of September 30, 2025, and 0.20% December 31, 2024.” · word for word

No risk; routine dividend declaration.

“Dividend declared as part of regular quarterly cycle.”