The Tennessee-based bank reported Q2 earnings with double-digit revenue growth and strong organic loan expansion.
SmartFinancial reported Q2 GAAP earnings per share of $0.96 on revenue of $55.95 million, a 13.4% year-over-year increase. The results reflect solid growth in core banking metrics amid a competitive lending environment.
Net organic loan and lease growth reached $165 million, a 15% annualized quarter-over-quarter rise, while core deposits grew by $83 million, or 6% annualized. Tangible book value per common share also climbed 13% annualized during the quarter.
The company highlighted its recertification as a Great Place to Work, with over 97% of employees participating in the survey.