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SmartFinancial ( (SMBK) ) has provided an update.
SmartFinancial reported a strong third quarter of 2024 with a net income of $9.1 million, showcasing a significant increase from the previous year and quarter. The company highlighted a 16% growth in net organic loans and leases and a 14 basis point expansion in its net interest margin to 3.11%. Additionally, SmartFinancial enhanced its financial strategies with the establishment of a REIT subsidiary. The company maintained solid credit quality and celebrated a nearly 9% growth in tangible book value per share, affirming its robust operational performance and positive outlook.
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