SmartFinancial Inc (NASDAQ: SMBK) is a Tennessee-incorporated bank holding company that owns and operates SmartBank, a community bank serving commercial and retail customers across Tennessee, Alabama, and Florida. The company makes money primarily through net interest income, the spread between interest earned on loans and leases and interest paid on deposits. Net interest income was $166.1 million in FY2025, up from $137.4 million in FY2024, driven by a loan and lease portfolio of approximately $4.3 billion as of December 31, 2025. Total assets reached $5.86 billion as of December 31, 2025, with total deposits of $5.15 billion. SmartBank competes against commercial banks, credit unions, savings and loan associations, mortgage banking firms, internet banks, and national financial institutions operating in its service area. The company was incorporated on September 19, 1983, and pursues growth through organic loan and deposit expansion as well as acquisitions of other financial institutions.

Revenue model

Net interest income from the spread between interest earned on loans and leases and interest paid on deposits. Interest income was $286.0 million in FY2025 against interest expense of $119.9 million, producing net interest income of $166.1 million. The bank also originates and occasionally sells one-to-four family residential mortgage loans in the secondary market.

Products and services

Commercial business loans, commercial real estate loans, residential real estate construction and mortgage loans, agriculture loans, leases, consumer installment loans, revolving lines of credit, letters of credit, overdraft facilities, educational loans, and deposit accounts including checking, savings, and time deposits.

Customers and end markets

Business entities and individual consumers in East and Middle Tennessee, Alabama, and the Florida Panhandle. End markets include commercial real estate, residential real estate, agriculture, and consumer lending. The filing discloses no customer concentration data.

Value-chain role

Community bank operating as a direct lender and deposit gatherer. SmartFinancial functions as the bank holding company providing structural flexibility for acquisitions; SmartBank is the operating entity delivering banking services to clients.

Geographic exposure

Concentrated in East and Middle Tennessee, Alabama, and the Florida Panhandle as of December 31, 2025. The company employed 581 full-time and 8 part-time associates across this three-state footprint as of December 31, 2025.

Competitors

Commercial banks, Credit unions, Savings and loan associations, Mortgage banking firms, Internet banks, Consumer finance companies, Securities brokerage firms, Insurance companies, Money market funds, Super-regional and national financial institutions

Source: SEC 10-K, filed 2026-03-16

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