SmartFinancial raises $100M in sub-debt, shifts to asset-sensitive as stock surges 55%

Filed March 16, 2026 · Period ending December 31, 2025 · Compared to 10-K Mar 17, 2025 · ~2 min read

Key Changes

• high

  Company issued $100M subordinated debt and retired $40M of existing sub-debt, boosting total capital ratio from 11.10% to 12.71% and providing capacity for future loan growth.

  MD&A: Capital & Notes verify on EDGAR →
• high

  Interest rate sensitivity reversed: rising rates now benefit net interest income (+1.22% for +100bp shock vs. -1.01% in 2024), while falling rates hurt (-1.35% vs. +0.49%), reflecting shift to asset-sensitive positioning.

  MD&A: Interest Rate Risk verify on EDGAR →
• high

  Stock delivered 55% total return in 2025 (indexed to $215.73 from $139.02), outperforming Russell 3000 (+17%) and S&P SmallCap Bank Index (+10%).

  Stock Performance Graph verify on EDGAR →