SMARTFINANCIAL INC. SMBK Income Statement

Smartfinancial inc. (SMBK)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Sep'10	Jun'10
Interest income:
Loans, including fees
26,434	25,234	25,515	25,278	24,975	25,018	21,571	21,652	18,227	16,351	11,491	10,747	10,215	10,324	10,110	9,954	9,374	9,879	6,655	4,677	4,518	5,446	4,978	4,225	4,095	4,190	4,293	4,079	4,141	4,717	4,241	4,185	4,143	4,437	4,531	4,521	4,638	5,159	5,493
Securities available-for-sale:
Taxable
679	699	748	871	971	-	839	897	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Tax-exempt
283	345	338	411	424	-	129	76	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Securities and interest-bearing deposits at other financial institutions
-	-	-	-	-	-	-	-	1,049	769	739	692	660	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Securities and interest bearing deposits at other financial institutions
-	-	-	-	-	-	-	-	-	-	-	-	-	-	601	665	716	627	452	363	417	611	430	346	430	314	457	482	439	440	478	618	467	548	573	621	568	753	1,216
Federal funds sold and other earning assets
602	587	743	743	573	644	529	368	100	116	86	78	72	82	50	50	63	64	41	27	28	74	35	10	7	7	9	14	21	16	15	13	15	15	9	17	11	19	21
Total interest income
27,998	26,865	27,344	27,303	26,943	26,770	23,068	22,993	19,378	17,238	12,317	11,517	10,949	10,976	10,763	10,669	10,154	10,571	7,149	5,068	4,964	6,132	5,444	4,581	4,533	4,513	4,760	4,576	4,603	5,174	4,735	4,817	4,626	5,001	5,114	5,159	5,218	5,933	6,731
Interest expense:
Deposits
4,754	5,271	5,605	5,788	5,251	4,679	3,969	3,238	2,401	1,806	1,373	1,241	1,097	1,066	1,065	1,012	961	937	687	498	502	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Time deposits
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	377	365	375	400	445	455	465	524	612	634	699	803	899	1,011	1,052	1,385	1,619
Other deposits
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	145	75	67	87	117	131	137	147	144	133	121	119	111	99	92	-	-
Other deposits
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	92	99
Securities sold under agreements to repurchase
5	4	5	6	8	10	11	11	12	15	15	15	15	16	16	15	16	17	7	2	2	-31	3	20	18	17	21	16	18	17	21	23	32	27	33	33	31	31	32
Federal Home Loan Bank advances and other borrowings
84	66	10	117	103	62	209	206	152	81	4	11	15	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Subordinated debt
584	583	584	590	584	584	19	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Federal Home Loan Bank advances and other borrowings
84	66	10	117	103	62	209	206	152	81	4	11	15	37	17	29	45	66	31	2	0	-524	0	263	261	267	284	315	340	391	394	425	461	453	465	545	579	665	759
Total interest expense
5,427	5,924	6,204	6,501	5,946	5,336	4,208	3,455	2,566	1,902	1,393	1,268	1,128	1,120	1,098	1,057	1,023	1,020	726	503	506	62	526	725	722	772	869	919	961	1,081	1,172	1,217	1,313	1,405	1,510	1,690	1,755	2,175	2,510
Net interest income
22,571	20,941	21,140	20,802	20,997	21,434	18,860	19,538	16,811	15,335	10,924	10,248	9,820	9,856	9,664	9,612	9,131	9,550	6,422	4,564	4,458	6,069	4,918	3,856	3,810	3,741	3,891	3,656	3,641	4,092	3,562	3,600	3,312	3,595	3,604	3,468	3,462	3,757	4,221
Provision for loan losses
3,200	685	724	393	797	1,328	302	617	688	442	30	298	12	171	260	218	137	566	32	39	283	-	-143	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
(Credit) provision for loan losses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	350	165	0	0	0	300	330	100	0	0	300	115	15	15	681	1,465
Net interest income after provision for loan losses
19,371	20,256	20,416	20,409	20,200	20,106	18,558	18,921	16,122	14,893	10,894	9,950	9,807	9,685	9,404	9,394	8,993	8,984	6,390	4,524	4,174	6,009	5,061	3,506	3,645	3,741	3,891	3,656	3,341	3,762	3,462	3,600	3,312	3,295	3,489	3,453	3,447	3,076	2,756
Noninterest income:
Service charges on deposit accounts
770	774	767	707	654	656	624	557	578	-	294	290	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on sale of securities
-	-	1	33	-	-	0	-1	-	-	143	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Mortgage banking
584	374	518	392	282	-	493	322	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Investment services
437	-	-	-	169	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Insurance commissions
269	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Customer service fees
-	-	-	-	-	-	-	-	-	-	-	-	264	-	295	258	295	425	207	148	130	-24	138	209	188	212	218	201	188	201	197	207	197	212	216	225	215	308	342
Gain on sale of securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	18	98	83	0	0	52	0	-	-	-	-	-	-	-	-	-	0	0	-	-	59	47	-	1,058	618
Net gains (losses) from sale of securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	300	102	227	0	424	0	-	-	-	-	-	-	-	-	-	-
Gain on sale of loans and other assets
-	-	-	-	-	-	-	-	325	370	224	405	275	241	286	197	221	-274	66	31	64	116	46	6	18	162	39	52	149	27	48	26	49	47	32	21	34	34	109
Interchange and debit card transaction fees
276	162	148	143	175	162	144	121	145	-	232	223	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Merger termination fee
-	-	0	6,400	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interchange and debit card transaction fees
-	-	-	-	-	-	-	-	-	-	-	-	192	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
(Loss) gain on sale of foreclosed assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	130	-3	57	692	-445	-362	382	-284	-50	-290	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other
482	1,864	762	741	418	606	570	578	406	386	352	332	210	422	472	410	411	306	350	236	230	692	255	18	12	13	12	18	17	12	12	18	20	14	15	21	20	14	20
Total noninterest income
2,818	3,005	2,196	8,416	1,698	1,720	1,831	1,577	1,455	1,586	1,246	1,252	942	947	1,203	960	1,070	1,150	178	106	807	214	389	244	322	616	269	697	355	241	258	252	267	273	323	316	269	1,416	1,091
Noninterest expense:
Salaries and employee benefits
10,006	10,181	9,072	8,984	8,398	7,870	7,934	7,649	7,176	6,271	5,035	4,757	4,678	4,422	4,311	4,486	4,495	4,109	3,184	2,236	2,300	3,096	2,494	1,722	1,826	1,716	1,619	1,622	1,597	1,600	1,566	1,569	1,591	1,613	1,458	1,501	1,542	1,525	1,521
Occupancy and equipment
1,911	1,783	1,635	1,658	1,640	1,609	1,638	1,522	1,533	1,216	1,113	962	978	875	965	1,136	1,018	855	707	574	543	1,025	517	324	308	323	333	339	337	408	354	347	335	313	361	350	406	397	368
FDIC insurance
180	0	-219	180	179	209	158	317	101	149	101	60	153	165	153	150	135	148	144	98	96	-52	119	164	154	161	161	161	159	157	236	206	202	254	233	241	322	385	259
Other real estate and loan related expense
545	253	335	242	490	1,219	578	926	189	58	47	11	14	36	78	63	56	109	90	47	41	-295	50	73	349	692	381	798	128	155	314	480	150	538	306	716	361	905	796
Advertising and marketing
198	166	263	259	295	245	228	215	184	167	176	129	164	79	179	184	173	99	131	110	110	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Data processing
538	530	273	577	615	372	407	600	526	670	483	475	246	547	450	554	341	499	292	194	209	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Professional services
711	651	573	489	662	481	727	587	898	601	471	473	538	557	558	551	455	860	907	333	352	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of intangibles
362	341	341	342	344	311	248	229	187	154	78	61	52	38	79	93	93	93	58	40	40	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Software as service contracts
470	500	560	568	567	576	507	492	478	426	363	312	295	280	271	315	285	243	196	151	159	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Merger related and restructuring expenses
2,096	427	73	1,796	923	1,322	838	1,123	497	1,693	303	419	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other
1,776	1,223	1,802	1,714	1,466	1,484	1,497	1,611	1,448	1,155	1,399	1,163	1,039	1,021	1,000	935	897	1,031	778	551	425	-864	1,123	801	661	809	967	780	752	1,155	731	818	794	780	715	847	783	995	938
Total noninterest expense
18,793	16,055	14,708	16,809	15,579	15,703	14,760	15,271	13,222	12,566	9,574	8,828	8,160	8,025	8,049	8,472	7,951	8,051	6,493	4,340	4,280	5,751	4,305	3,084	3,301	3,704	3,464	3,701	2,975	3,477	3,203	3,423	3,074	3,500	3,076	3,657	3,416	4,209	3,884
Income before income tax expense
3,396	7,206	7,904	12,016	6,319	6,123	5,629	5,227	4,355	3,913	2,566	2,373	2,589	2,607	2,558	1,882	2,112	2,082	75	290	701	471	1,145	665	666	653	696	652	721	526	518	428	505	68	735	112	300	282	-
Income (loss) before provision for income taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-36
Income tax expense
664	473	1,941	2,895	1,588	-307	1,305	1,295	940	3,875	881	725	945	959	947	691	763	900	152	224	363	165	440	256	254	249	268	256	268	156	154	118	149	-43	212	-28	48	69	-55
Net income
-	-	-	-	-	-	-	-	-	38	1,684	1,648	1,643	1,647	1,610	1,191	1,348	1,182	-76	66	338	305	705	409	412	404	428	396	452	370	364	310	356	112	523	141	252	213	18
Preferred Stock Dividends, Income Statement Impact
-	-	-	-	-	-	-	-	-	0	0	0	195	270	270	270	212	30	30	30	30	-660	30	375	375	375	375	375	375	375	308	280	265	252	187	118	93	0	0
Accretion on preferred stock discount
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	17	17	17	17	17	17	17	16	15	14	14	13	9	0	0	0
Net income
2,732	-	5,963	9,121	4,731	-	4,324	3,932	3,414	37	1,684	1,648	1,448	1,377	1,340	921	1,136	1,152	-106	36	308	1,001	675	16	19	11	35	3	59	-22	38	15	76	-153	322	14	159	213	18
Earnings per common share:
Basic (in dollars per share)
0.19	0.48	0.43	0.65	0.34	0.50	0.34	0.32	0.30	-0.03	0.20	0.20	0.19	0.23	0.23	0.16	0.20	0.27	-0.03	0.01	0.10	0.36	0.22	0.00	0.00	0.00	0.01	0.00	0.01	0.00	0.01	0.00	0.01	-0.02	0.05	0.00	0.02	0.03	0.00
Diluted (in dollars per share)
0.19	0.48	0.42	0.65	0.34	0.49	0.34	0.32	0.30	-0.04	0.20	0.20	0.19	0.22	0.22	0.15	0.19	0.25	-0.03	0.01	0.09	0.32	0.20	0.00	0.00	0.00	0.01	0.00	0.01	0.00	0.01	0.00	0.01	-0.02	0.05	0.00	0.02	0.03	0.00
Weighted average common shares outstanding:
Basic (in shares)
14,395	13,964	13,955	13,951	13,942	13,563	12,718	12,201	11,210	10,580	8,234	8,216	7,524	5,891	5,834	5,820	5,807	6,072	3,936	2,965	2,965	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Diluted (in shares)
14,479	14,067	14,053	14,046	14,018	13,612	12,817	12,320	11,319	10,896	8,320	8,325	7,631	6,139	6,096	6,131	6,108	6,295	4,243	3,293	3,293	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividends per common share (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	0.00	-	0.00	0.00	0.00	-	0.00	0.00	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividends per share
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.00	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
DIVIDENDS DECLARED PER COMMON SHARE
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.00	0.00	0.00	-	0.00	0.00	0.00	-	0.00	0.00	0.00	-	0.00	0.00	0.00	0.00	0.00