SmartFinancial, Inc. (NYSE: SMBK) reported net income of $18.6 million, or $1.10 per diluted common share, for the third quarter of 2026. This figure represents an increase from the $13.7 million, or $0.81 per share, reported in the same period of the prior year, as well as a rise from the $16.3 million, or $0.96 per share, earned in the preceding quarter.
Operating revenue reached a quarterly record of $57.5 million. The company highlighted significant organic growth during the period, with net organic loan and lease growth totaling $174 million and core deposit growth of $163 million. These figures represent annualized quarter-over-quarter increases of 15% and 12%, respectively. Additionally, the company opened a full-service financial center in Columbus, Georgia.
On the balance sheet, total assets stood at $6.32 billion as of September 30, 2026, an increase of $460 million from December 31, 2025. Total deposits increased by $423.4 million during the same timeframe. The company also noted a $2.6 million tax benefit related to the purchase of transferable energy tax credits.
Net interest income for the third quarter was $49.4 million. The tax-equivalent net interest margin decreased to 3.45% from 3.52% in the prior quarter, attributed to higher funding costs. The allowance for credit losses was $45.6 million, or 0.94% of total loans and leases, down from 0.97% in the prior quarter. Nonperforming loans and leases comprised 0.28% of total loans and leases.
Noninterest income increased to $8.1 million, driven by service charges on deposit accounts and mortgage banking income. Noninterest expense rose to $36.4 million, primarily due to increases in other real estate and loan-related expenses, salaries, and professional services.
