The strong beat and accelerating organic growth (15% annualized loan growth) reinforce the execution story, but NIM compression and rising deposit costs (2.26% vs 2.15% QoQ) bear watching. Monitor the Q4 2026 earnings for margin stabilization and expense control given the 7% QoQ noninterest expense increase.
Price Chart
Executive Summary
SmartFinancial reported Q3 2026 EPS of $1.10, beating consensus of $1.00 by 10%, with net income of $18.6M (+36% YoY). Strong organic loan growth of 15% annualized and core deposit growth of 12% annualized drove record operating revenue of $57.5M, though NIM compressed 7bp to 3.45% due to rising deposit costs and noninterest expense increased 7% QoQ.
Key Financial Metrics
Key Facts
- GAAP diluted EPS $1.10 vs $0.81 in Q3 2025 (+36% YoY) and vs consensus $1.00 (+10% beat)
- Net income $18.6M, up from $13.7M in Q3 2025 and $16.3M in Q2 2026
- Operating revenue record $57.5M, up 13% YoY and 3% QoQ
- Net organic loan growth $174M (15% annualized QoQ); core deposit growth $163M (12% annualized QoQ)
- Net interest margin (FTE) 3.45%, down 7bp from 3.52% in Q2 2026 due to higher funding costs
- Nonperforming loans to total loans 0.28%, up from 0.25% in Q2 2026; provision for credit losses $687K vs $1.5M prior quarter
- Tangible book value per share $28.50, up from $26.85 at Dec 2025 (+6.1% YTD)
- Total assets surpassed $6.3B, up from $5.86B at Dec 2025
Financial Impact
EPS beat of $0.10 (10%) vs consensus; operating revenue record $57.5M; net income +36% YoY
Risk Factors
- Net interest margin compression from rising deposit costs (cost of total deposits +11bp QoQ to 2.26%)
- Noninterest expense increased 7% QoQ to $36.4M, outpacing revenue growth of 3%
- Nonperforming loans rose to 0.28% from 0.25% QoQ; total NPAs increased $1.4M
- AOCI loss widened to -$26.2M from -$12.9M in Q2 2026, pressuring tangible equity ratio
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001104659-26-116936 |
| Document: smbk-ex99d2.htm | 0001104659-26-116936 |
| Document: smbk-20261019x8k.htm | 0001104659-26-116936 |
| Document: 0001104659-26-116936-index-headers.html | 0001104659-26-116936 |
| Document: 0001104659-26-116936-index.html | 0001104659-26-116936 |
| Document: 0001104659-26-116936.txt | 0001104659-26-116936 |
| 8-K Data (Synthetic) | 0001104659-26-116936 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 today | Insider Cluster | $49.60 | awaiting T+1 | — | $49.16 (−0.89%) |
Oct 23, 2026 3d ago | 144 | $49.34 | awaiting T+1 | — | $49.16 (−0.36%) |
Oct 19, 2026 7d ago | 8-K | $50.12 $48.24 | ▼ −3.75% | ▼ −4.28% | $49.16 (−1.92%) |
Jul 20, 2026 14w ago | 8-K | $48.60 $48.50 | ▼ −0.21% | ▼ −0.09% | $49.16 (+1.15%) |
Jun 16, 2026 19w ago | Institutional Cluster | $44.38 $44.58 | ▲ +0.45% | ▲ +1.70% | $49.16 (+10.77%) |
Jun 10, 2026 19w ago | Insider Cluster | $44.84 $45.46 | ▲ +1.38% | ▲ +0.84% | $49.16 (+9.63%) |
May 14, 2026 23w ago | EFFECT | $40.79 $40.05 | ▼ −1.81% | ▼ −0.59% | $49.16 (+20.52%) |
May 1, 2026 25w ago | S-3 | $41.29 $41.29 | · 0.00% | ▼ −0.80% | $49.16 (+19.06%) |
Apr 20, 2026 27w ago | 8-K | $42.76 $40.86 | ▼ −4.44% | ▼ −3.79% | $49.16 (+14.97%) |
Apr 7, 2026 28w ago | DEFA14A | $41.96 $42.60 | ▲ +1.53% | ▲ +0.95% | $49.16 (+17.16%) |
US Market Status
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