SmartFinancial Inc. (SMBK)

[norweger1979]

3/31/2017

Executive Summary



The following is a summary of the Company’s financial highlights and significant events during the first quarter of 2017 :


• Net income available to common shareholders totaled $1.4 million , or $0.19 per share, during the first quarter of 2017 compared to $1.1 million , or $0.20 per share, during the first quarter of 2016 .

• Annualized return on average assets was 0.64 percent in the first quarter of 2017 , compared to 0.54 percent a year ago.

• Net interest margin increased compared to a year ago due to increases in average loan balances, increases in yields of the securities portfolio, and reductions in FHLB advances and other borrowings.

• Asset quality was outstanding with nonperforming assets to total assets dropping to just 0.37 percent .

• Dividends on preferred stock dropped to $195 thousand as the company used proceeds from the capital raise to redeem the preferred stock during the quarter.

http://www.smartfinancialinc.com/file/Index?KeyFile=2000263827