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Get filing alertsSmartFinancial Q3 net income rises 36% to $18.6M on strong loan and deposit growth
Filed October 19, 2026 · Period ending October 19, 2026 · ~1 min read
Key Changes
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Net income rose 36% year-over-year to $18.6 million, or $1.10 per diluted share, up from $13.7 million, or $0.81 per share, a year earlier.
Exhibit 99.1 view on EDGAR → -
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Net organic loan and lease growth was $174 million, a 15% annualized quarter-over-quarter increase; core deposits grew $163 million, a 12% annualized pace.
Exhibit 99.1 view on EDGAR → -
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Tangible book value per common share reached $28.50 at September 30, 2026, up from $26.85 at December 31, 2025.
Exhibit 99.1 view on EDGAR → -
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Net interest margin compressed 7 basis points sequentially to 3.45%, as higher funding costs more than offset improved earning-asset yields.
Exhibit 99.1 view on EDGAR → -
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Nonperforming loans rose to 0.28% of total loans from 0.25% last quarter, while the allowance for credit losses declined to 0.94% from 0.97%.
Exhibit 99.1 view on EDGAR →
Summary
SmartFinancial reported third-quarter 2026 net income of $18.6 million, or $1.10 per diluted share, up 36% from $13.7 million, or $0.81 per share, a year earlier. The improvement was driven by strong balance-sheet growth: net organic loan and lease growth of $174 million (15% annualized) and core deposit growth of $163 million (12% annualized).
Tangible book value per share rose to $28.50 from $26.85 at year-end 2025. Profitability metrics also improved, with operating return on average assets reaching 1.20% and operating return on average tangible common equity at 15.07%. However, the net interest margin compressed 7 basis points sequentially to 3.45% as deposit costs rose faster than earning-asset yields.
Credit quality remains solid, with nonperforming loans at 0.28% of total loans, though the allowance for credit losses declined slightly to 0.94%. The company furnished an investor slide presentation in connection with its October 20, 2026 earnings call. The filing contains no red flags and reflects a routine quarterly earnings disclosure.
Section-by-Section Diff
Event · Exhibit 99.1
Added in current filing · view on EDGAR →
net income of $18.6 million, or $1.10 per diluted common share, for the third quarter of 2026, compared to net income of $13.7 million, or $0.81 per diluted common share, for the third quarter of 2025
Net income rose 36% year-over-year to $18.6 million, with diluted EPS up from $0.81 to $1.10. The company also reported prior-quarter net income of $16.3 million, or $0.96 per diluted share, showing sequential improvement.
Added in current filing · view on EDGAR →
The tax equivalent net interest margin was 3.45% for the third quarter of 2026, down from 3.52% for the prior quarter.
Net interest margin compressed 7 basis points sequentially to 3.45%, driven by higher funding costs that more than offset improved earning-asset yields. The cost of total deposits rose to 2.26% from 2.15%.
Added in current filing · view on EDGAR →
Nonperforming loans and leases as a percentage of total loans and leases was 0.28% as of September 30, 2026, and 0.25% as of June 30, 2026.
Nonperforming loans ticked up to 0.28% of total loans from 0.25% last quarter, while the allowance for credit losses to total loans declined to 0.94% from 0.97%. Provision for credit losses was $687 thousand, down from $1.5 million.
Added in current filing · view on EDGAR →
Tangible book value per common share1 was $28.50 at September 30, 2026, compared to $26.85 at December 31, 2025.
Tangible book value per share grew 6.1% year-to-date to $28.50. The company highlighted 15% annualized growth excluding the impacts of accumulated other comprehensive income.
Event · Exhibit 99.2
SmartFinancial reports Q3 2026 results: net income $18.6M, diluted operating EPS $1.10, TBV per share $28.50.
Added in current filing · view on EDGAR →
Net Income (GAAP) $ 18,627 $ 16,322 $ 13,686 14% 36%
GAAP net income rose to $18.6 million in Q3 2026, up 14% from Q2 2026 and 36% from Q3 2025. The company also reported diluted operating EPS of $1.10, up 28% year over year.
Added in current filing · view on EDGAR →
Tangible Book Value Per Common Share (Non-GAAP) (1) $ 28.50 $ 28.22 $ 27.33 $ 26.85 $ 26.00 $ 24.42 $ 23.61 $ 22.85
Tangible book value per common share reached $28.50 at 9/30/26, up from $26.00 a year earlier. The company highlights 4% QoQ annualized TBV per common share growth.
Added in current filing · view on EDGAR →
Operating Return On Average Assets (Non-GAAP) (1) 1.20% 1.10% 0.96% 0.95% 1.02% 0.88% 0.87% 0.75%
Operating return on average assets improved to 1.20% in Q3 2026 from 1.02% in Q3 2025. This reflects stronger operating earnings relative to the asset base. Note: these figures were previously disclosed in the company's Jul 20, 2026 8-K.
Added in current filing · view on EDGAR →
Operating Return On Average Tangible Common Equity (Non-GAAP) (5) 15.07% 13.70% 11.93% 12.07% 13.53% 11.53% 11.60% 9.94%
Operating return on average tangible common equity rose to 15.07% in Q3 2026, up from 13.53% a year earlier. This is a key profitability metric for the bank.
Added in current filing · view on EDGAR →
$6.3 Billion in Total Assets
Total assets reached $6.3 billion as of 9/30/26, up from $5.78 billion a year earlier. The company also reported $4.9 billion in total loans and $5.6 billion in total deposits.
Event · Item 7.01 — Regulation FD Disclosure
SmartFinancial furnished an investor slide presentation for its October 20, 2026 earnings call.
Show 1 minor / wording change
Added in current filing · verify on EDGAR →
SmartFinancial is furnishing an investor slide presentation that it intends to review in conjunction with its earnings release conference call on October 20, 2026.
The company furnished a slide deck under Regulation FD ahead of its earnings call. The presentation is attached as Exhibit 99.2 and is not deemed filed for Section 18 purposes.
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Figures/quotes linked to EDGAR · Narrative written by AI · Oct 20, 2026 · How we verify