SmartFinancial, Inc
(NASDAQ:SMBK)

SmartFinancial, Inc. operates as the bank holding company for SmartBank that provides various financial services to individuals and corporate customers. The company offers various deposit products, including interest bearing and non-interest bearing checking accounts, savings accounts, money market ...

Website: http://www.smartfinancialinc.com

Founded: 2012

Full Time Employees: 464

Sector: Financial Services

Industry: Banks-Regional

Regional Bank

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At a glance:

Bull Thesis:

Bear Thesis:

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Quarterly

Annual

Unit: USD	2026-03-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2010-09-30	2010-03-31	2009-06-30	2009-03-31	2008-06-30	2008-03-31	2007-09-30	2007-06-30	2007-03-31	2006-09-30	2006-06-30	2006-03-31	2004-03-31

interest income:
loans and leases, including fees	57,762,000	54,738,000	50,853,000	50,020,000	75,850,000	47,539,000	45,446,000	44,728,000	90,179,000	35,127,000	31,530,000	29,643,000	48,366,000	31,674,000	28,323,000	28,018,000	34,864,000	28,621,000	28,663,000
securities:
taxable	4,775,000	5,233,000	5,320,000	4,548,000	7,829,000	4,335,000	4,335,000	3,651,000	8,202,000	3,135,000	2,908,000	2,418,000	9,327,000	832,000	916,000	724,000	2,000,000	546,000	589,000	679,000	-168,000	748,000	871,000	679,000	698,000	748,000	871,000
tax-exempt	354,000	350,000	353,000	352,000	340,000	356,000	357,000	353,000	49,000	561,000	441,000	368,000	1,272,000	331,000	304,000	259,000	151,000	364,000	416,000	283,000	196,000	338,000	411,000	283,000	345,000	338,000	411,000
federal funds sold and other earning assets	3,485,000	3,635,000	4,759,000	4,863,000	6,552,000	3,045,000	1,956,000	4,446,000	8,092,000	3,474,000	1,430,000	486,000	7,414,000	474,000	309,000	291,000	416,000	327,000	277,000	602,000	-550,000	743,000	743,000	602,000	587,000	743,000	743,000
total interest income	66,376,000	63,956,000	61,285,000	59,783,000	90,571,000	55,275,000	52,094,000	53,178,000	106,522,000	42,297,000	36,309,000	32,915,000	66,379,000	33,311,000	29,852,000	29,292,000	37,431,000	29,858,000	29,945,000	27,998,000	36,022,000	27,344,000	27,303,000	27,998,000	26,864,000	27,344,000	27,303,000	5,933,035	7,101,186	6,427,866	6,864,115	7,756,905	8,060,064	9,109,824	8,743,087	8,073,213	7,533,801	7,184,095	6,509,368	3,077,896
interest expense:
deposits	27,335,000	27,350,000	27,439,000	27,035,000	49,927,000	23,433,000	19,554,000	16,346,000	74,876,000	4,866,000	2,504,000	2,014,000	11,495,000	2,153,000	2,248,000	2,331,000	-2,167,000	2,897,000	3,366,000	4,754,000	-3,047,000	5,605,000	5,788,000	4,754,000	5,271,000	5,605,000	5,788,000
borrowings	70,000	709,000	148,000	128,000	300,000	210,000	339,000	224,000	565,000	97,000	117,000	157,000	242,000	121,000	123,000	117,000	-134,000	334,000	249,000	89,000	566,000	15,000	123,000
subordinated debt	733,000	865,000	884,000	899,000	1,557,000	626,000	626,000	626,000	890,000	626,000	626,000	626,000	680,000	655,000	584,000	584,000	698,000	584,000	584,000	584,000	577,000	584,000	590,000	584,000	584,000	584,000	590,000
total interest expense	28,138,000	28,924,000	28,471,000	28,062,000	51,784,000	24,269,000	20,519,000	17,196,000	76,331,000	5,589,000	3,247,000	2,797,000	12,417,000	2,929,000	2,955,000	3,032,000	-1,603,000	3,815,000	4,199,000	5,427,000	-1,904,000	6,204,000	6,501,000	5,427,000	5,924,000	6,204,000	6,501,000	2,175,985	2,596,362	2,791,068	2,870,676	3,223,449	3,469,876	3,785,203	3,469,307	3,189,057	2,781,355	2,437,644	2,154,125	807,457
net interest income	38,238,000	35,032,000	32,814,000	31,721,000	38,787,000	31,006,000	31,575,000	35,982,000	30,191,000	36,708,000	33,062,000	30,118,000	53,962,000	30,382,000	26,897,000	26,260,000	39,034,000	26,043,000	25,746,000	22,571,000	37,926,000	21,140,000	20,802,000	22,571,000	20,940,000	21,140,000	20,802,000
provision for credit losses	979,000	2,575,000	883,000	-440,000	364,500	795,000	113,000	550,000	-201,000	974,000		1,006,000
net interest income after provision for credit losses	37,259,000	32,457,000	31,931,000	32,161,000	24,276,250	30,211,000	31,462,000	35,432,000	30,392,000	35,734,000		29,112,000
noninterest income:
service charges on deposit accounts	1,736,000	1,780,000	1,692,000	1,612,000	2,024,000	1,736,000	1,657,000	1,445,000	2,135,000	1,611,000	1,446,000	1,319,000	2,575,000	1,220,000	1,048,000	1,009,000	2,280,000	892,000	709,000	770,000	1,274,000	767,000	707,000	770,000																165,403
gain on sale of securities													99,000	45,000			39,000	-9,000	16,000		-28,000	1,000	33,000			1,000	33,000
mortgage banking	493,000	410,000	348,000	280,000	766,000	309,000	332,000	172,000	-435,000	170,000	471,000	834,000	-1,686,000	994,000	1,105,000	1,139,000	1,496,000	1,029,000	931,000	584,000	2,683,000	518,000	392,000	584,000	374,000	518,000	392,000
investment services	1,769,000	1,881,000	1,302,000	1,380,000	2,179,000	1,461,000	1,300,000	1,005,000	1,919,000	1,051,000	1,065,000	1,070,000	2,598,000	448,000	567,000	531,000	1,008,000	359,000	363,000	437,000	882,000	260,000	255,000	437,000
insurance commissions	1,412,000	1,477,000	1,284,000	1,103,000	2,145,000	1,153,000	1,139,000	1,259,000	2,321,000	864,000	598,000	901,000	827,000	745,000	557,000	1,466,000	1,983,000	560,000	473,000	269,000				269,000
interchange and debit card transaction fees	1,220,000	1,349,000	1,343,000	1,253,000	1,190,000	1,357,000	1,347,000	1,383,000	1,350,000	1,356,000	1,467,000	1,284,000	2,596,000	1,078,000	922,000	839,000	2,632,000	868,000	508,000	276,000	1,946,000	148,000	143,000	276,000	161,000	148,000	143,000
other	1,967,000	2,242,000	1,635,000	2,752,000	4,237,000	1,476,000	1,355,000	1,661,000	1,246,000	1,198,000	2,182,000	1,703,000	3,563,000	1,779,000	944,000	707,000	4,061,000	422,000	511,000	482,000	908,000	502,000	486,000	482,000	1,696,000	762,000	741,000
total noninterest income	8,597,000	9,139,000	7,604,000	8,380,000	19,406,000	691,000	7,130,000	6,925,000	1,735,000	6,250,000	7,229,000	7,111,000	10,572,000	6,309,000	5,143,000	5,691,000	13,499,000	4,121,000	3,511,000	2,818,000	3,115,000	2,196,000	8,416,000	2,818,000	3,004,000	2,196,000	8,416,000	886,828	320,145	730,291	263,114	524,572	394,306	380,233	439,404	403,994	418,102	668,453	433,012	347,615
noninterest expense:
salaries and employee benefits	19,234,000	18,448,000	17,261,000	16,639,000	22,626,000	16,785,000	15,947,000	16,742,000	18,713,000	16,317,000	15,673,000	15,046,000	26,754,000	13,594,000	12,203,000	10,869,000	20,261,000	11,032,000	10,357,000	10,006,000	16,554,000	9,072,000	8,984,000	10,006,000	10,278,000	9,072,000	8,984,000	1,525,311	1,633,344	1,848,452	1,856,560	1,834,678	1,841,033	1,356,769	1,824,901	1,730,090	1,465,236	1,597,437	1,368,059	910,709
occupancy and equipment	3,397,000	3,423,000	3,324,000	3,396,000	3,544,000	3,547,000	3,318,000	3,208,000	4,431,000	3,167,000	2,793,000	3,059,000	4,864,000	2,536,000	2,294,000	2,341,000	4,103,000	2,186,000	1,996,000	1,911,000	3,381,000	1,635,000	1,658,000	1,911,000	1,749,000	1,635,000	1,658,000
fdic insurance	960,000	825,000	825,000	915,000	1,149,000	825,000	875,000	541,000	1,134,000	705,000	676,000	641,000	1,406,000	525,000	371,000	371,000	939,000	534,000	180,000	180,000	1,050,000	-219,000	180,000	180,000		-219,000	180,000
other real estate and loan related expense	658,000	460,000	538,000	584,000	1,207,000	603,000	441,000	572,000	467,000	565,000	636,000	729,000	932,000	407,000	506,000	602,000	563,000	643,000	346,000	545,000	983,000	335,000	242,000	545,000	266,750	335,000	242,000
advertising and marketing	382,000	327,000	295,000	302,000	315,000	346,000	305,000	355,000	357,000	288,000	327,000	369,000	639,000	235,000	230,000	190,000	177,000	253,000	202,000	198,000	17,000	263,000	259,000	198,000	166,000	263,000	259,000
data processing and technology	2,657,000	2,519,000	2,452,000	2,465,000	3,153,000	2,378,000	2,235,000	2,163,000	4,050,000	1,872,000	1,728,000	1,586,000	2,641,000	1,753,000	1,509,000	1,379,000	3,071,000	1,131,000	1,155,000	1,008,000
professional services	1,368,000	1,201,000	1,064,000	924,000	1,900,000	735,000	764,000	807,000	634,000	822,000	745,000	1,242,000	1,490,000	810,000	849,000	641,000	975,000	594,000	868,000	711,000	1,234,000	573,000	489,000	711,000	651,000	573,000	489,000
amortization of intangibles	569,000	604,000	608,000	612,000	444,000	647,000	675,000	659,000	705,000	650,000	633,000	637,000	1,010,000	711,000	441,000	444,000	1,087,000	402,000	405,000	362,000	713,000	341,000	342,000	362,000	341,000	341,000	342,000
total noninterest expense	32,296,000	30,846,000	29,201,000	28,553,000	37,435,000	28,516,000	27,410,000	27,529,000	34,276,000	27,230,000	25,926,000	25,718,000	42,720,000	23,309,000	20,797,000	19,464,000	34,625,000	19,167,000	18,806,000	18,793,000	29,622,000	14,708,000	16,809,000	18,793,000	11,774,250	14,708,000	16,809,000	3,679,903	3,316,481	3,773,359	3,292,743	3,215,991	3,096,628	2,370,989	3,011,708	2,685,951	2,422,234	2,541,394	2,242,221	1,604,208
income before income tax expense	13,560,000	10,750,000	10,334,000	11,988,000	17,063,000	2,386,000	11,182,000	14,828,000	-2,149,000	14,754,000	13,115,000	10,505,000	19,007,000	12,233,000	11,248,000	12,420,000	24,958,000	8,363,000	7,601,000	3,396,000	4,650,000	7,904,000	12,016,000	3,396,000	7,205,000	7,904,000	12,016,000
income tax expense	2,306,000	1,610,000	2,331,000	2,630,000	3,325,000	319,000	2,346,000	3,328,000	-724,000	3,211,000	2,900,000	2,246,000	4,119,000	2,633,000	2,470,000	2,664,000	5,470,000	1,968,000	1,427,000	664,000	133,000	1,941,000	2,895,000	664,000	472,000	1,941,000	2,895,000
net income	11,254,000	9,140,000	8,003,000	9,358,000	13,738,000	2,067,000	8,836,000	11,500,000	-1,425,000	11,543,000	10,215,000	8,259,000	14,888,000	9,600,000	8,778,000	9,756,000	19,488,000	6,395,000	6,174,000	2,732,000	4,517,000	5,963,000	9,121,000	2,732,000	6,733,000	5,963,000	9,121,000	213,674				1,073,056	1,014,859	559,336	1,564,187	1,651,777	1,546,449	1,463,212	1,355,074	523,346
yoy	-18.08%	342.19%	-9.43%	-18.63%	-1064.07%	-82.09%	-13.50%	39.24%	-109.57%	20.24%	16.37%	-15.34%	-23.60%	50.12%	42.18%	257.10%	331.44%	7.24%	-32.31%	0.00%	-32.91%	0.00%	0.00%	1178.58%				-80.09%				-35.04%	-34.37%	-61.77%	15.43%	215.62%
qoq	23.13%	14.21%	-14.48%	-31.88%	564.63%	-76.61%	-23.17%	-907.02%	-112.35%	13.00%	23.68%	-44.53%	55.08%	9.36%	-10.02%	-49.94%	204.74%	3.58%	125.99%	-39.52%	-24.25%	-34.62%	233.86%	-59.42%	12.91%	-34.62%	4168.65%					5.73%	81.44%	-64.24%	-5.30%	6.81%	5.69%	7.98%	158.93%
earnings per common share:
basic	670	550	480	560	830	120	530	690	-90	690	610	490	720	620	590	650	1,200	420	410	190	210	430	650	190	480	430	650
diluted	670	540	480	550	810	120	520	680	-90	680	610	490	710	610	580	650	1,200	420	410	190	210	420	650	190	480	420	650
weighted-average common shares outstanding:
basic	16,767,535,000	16,726,658,000	16,770,819,000	16,849,735,000	16,768,956,000	16,807,548,000	16,806,389,000	16,791,406,000	16,805,068,000	16,749,255,000	16,734,930,000	16,718,371,000	16,740,450,000	15,557,528,000	15,003,657,000	15,011,573,000	15,572,537,000	15,160,579,000	15,152,768,000	14,395,103,000	14,955,423,000	13,955,859,000	13,951,643,000	14,395,103,000	13,953,497,000	13,955,859,000	13,951,643,000
diluted	16,872,097,000	16,839,998,000	16,850,250,000	16,925,408,000	16,875,456,000	16,918,635,000	16,898,091,000	16,896,494,000	16,911,185,000	16,872,022,000	16,867,774,000	16,858,288,000	16,871,369,000	15,691,126,000	15,126,184,000	15,111,947,000	15,699,215,000	15,210,611,000	15,202,335,000	14,479,671,000	15,019,175,000	14,053,432,000	14,046,500,000	14,479,671,000	14,046,366,000	14,053,432,000	14,046,500,000
loss on sale of securities					-1,700,250	-6,801,000
gain on sale of sbk insurance
restructuring expenses
merger related and restructuring expenses					27,500	110,000			-497,000	87,000	81,000	439,000	-377,000	464,000	372,000	103,000	-162,000	290,000	1,477,000	2,096,000	1,773,000	73,000	1,796,000	2,096,000	427,000	73,000	1,796,000
benefit from credit losses											1,250,000
net interest income after benefit from credit losses											31,812,000
provision for loan and lease losses													2,807,000	1,149,000	-5,000		2,170,750	2,634,000	2,850,000
net interest income after provision for loan and lease losses													51,155,000	29,233,000	26,902,000		16,419,250	23,409,000	22,896,000
benefit from loan and lease losses																67,000
net interest income after benefit from loan and lease losses																26,193,000
securities available-for-sale:
loans, including fees																				26,434,000	36,544,000	25,515,000	25,278,000	26,434,000	25,234,000	25,515,000	25,278,000	5,159,963	5,948,246	6,035,104	6,442,106	7,199,680	7,553,295	8,609,851	8,292,225	7,654,869	7,022,051	6,779,975	6,125,449
provision for loan losses																				3,200,000	6,769,000	724,000	393,000		478,500	724,000	393,000	681,000							235,000	2,000	204,800	475,000	378,000	160,000
net interest income after provision for loan losses																				19,371,000	31,157,000	20,416,000	20,409,000		15,256,500	20,416,000	20,409,000
merger termination fee																					1,600,000		6,400,000				6,400,000
data processing																					816,000	273,000	577,000	538,000	530,000	273,000	577,000
software as service contracts																					499,000	560,000	568,000	470,000	424,000	560,000	568,000
securities sold under agreements to repurchase																								5,000	4,000	5,000	6,000							77,493	43,846	45,958	36,531	32,864	16,738	3,515
federal home loan bank advances and other borrowings																								84,000	65,000	10,000	117,000		779,197
benefit from loan losses																								3,200,000					1,015,000	1,633,898	5,725,000	170,000	317,000	2,963,500
net interest income after benefit from loan losses																								19,371,000
customer service fees																									773,000	767,000	707,000
interest income
interest expense
noninterest income
noninterest expense
earnings per common share
basic	670	550	480	560	830	120	530	690	-90	690	610	490	720	620	590	650	1,200	420	410	190	210	430	650	190	480	430	650
diluted	670	540	480	550	810	120	520	680	-90	680	610	490	710	610	580	650	1,200	420	410	190	210	420	650	190	480	420	650
weighted-average common shares outstanding
basic	16,767,535,000	16,726,658,000	16,770,819,000	16,849,735,000	16,768,956,000	16,807,548,000	16,806,389,000	16,791,406,000	16,805,068,000	16,749,255,000	16,734,930,000	16,718,371,000	16,740,450,000	15,557,528,000	15,003,657,000	15,011,573,000	15,572,537,000	15,160,579,000	15,152,768,000	14,395,103,000	14,955,423,000	13,955,859,000	13,951,643,000	14,395,103,000	13,953,497,000	13,955,859,000	13,951,643,000
diluted	16,872,097,000	16,839,998,000	16,850,250,000	16,925,408,000	16,875,456,000	16,918,635,000	16,898,091,000	16,896,494,000	16,911,185,000	16,872,022,000	16,867,774,000	16,858,288,000	16,871,369,000	15,691,126,000	15,126,184,000	15,111,947,000	15,699,215,000	15,210,611,000	15,202,335,000	14,479,671,000	15,019,175,000	14,053,432,000	14,046,500,000	14,479,671,000	14,046,366,000	14,053,432,000	14,046,500,000
investment securities																												753,783	1,129,279	386,065	396,958	553,103	498,009	468,044	420,665	414,762	418,497	388,778	362,963
federal funds sold & other earning assets																												19,289	23,661
time deposits 100,000 or more																												538,963
other deposits																												939,412	1,235,724
federal funds purchased and securities sold under agreements to repurchase																												31,649		43,880		170,985	173,800
fhlb advances and other borrowing																												665,961
net interest income before provision for loan losses																												3,757,050							5,273,780	4,884,156	4,752,446	4,746,451	4,355,243
net interest income after the provision for loan losses																												3,076,050							5,038,780	4,882,156	4,547,646	4,271,451	3,977,243	2,110,439
customer service fee																												308,579	341,914
other noninterest income																												33,931	30,922
net gains from sale of loans and other assets																												544,318
net occupancy and equipment expense																												397,461	355,183
fdic and other assessments*																												385,722
other operating expense																												1,371,409	1,080,617	1,537,010	1,029,483	998,140	875,714	705,200	821,004	607,952	675,515	699,746	602,167	460,373
income / (loss) before provision for income taxes																												282,975
provision / (benefit) for income taxes																												69,301	149,701	-437,369
earnings / (loss) per common share
basic net income per common share																												0.03				0.17	0.16	0.09	0.24	0.25	0.48	0.45	0.42	0.42
diluted net income per common share																												0.03				0.17	0.15	0.08	0.23	0.24	0.45	0.43	0.4	0.39
dividends declared per common share																														0.03	0.07	0.07	0.07	0.05	0.05	0.05	0.06	0.06	0.06
time deposits of 100,000 or more																													546,026											138,303
federal funds purchased and securities
sold under agreements to repurchase																													35,415		54,049
net interest income before benefit from loan losses																													4,504,824	3,636,798	3,993,439	4,533,456	4,590,188	5,324,621
net interest income / (loss) after the benefit from loan losses																													3,489,824		-1,731,561
net incomees from sale of loans and other assets																													-52,691
depository insurance																													247,337
income / (loss) before benefit from income taxes																													493,488	-1,040,168	-4,761,190
net income /																													343,787	-602,799	-2,911,503
basic net income / ( loss) per common share																													0.05	-0.1	-0.46
diluted net income / (loss) per common share																													0.05	-0.1	-0.46
federal funds sold																														6,697	7,948	2,230	1,855	29,681	4,460	630	77,953	10,885	15,895
interest bearing demand accounts																														29,960	26,213	56,570	66,819	122,197	134,961	127,686	113,932	106,021	91,221
money market accounts																														69,642	79,626	191,671	337,850	523,818	460,901	475,245	575,757	552,044	389,466	82,953
savings accounts																														10,247	9,764	15,379	15,816	19,409	19,112	18,921	18,102	19,429	19,529	9,033
time deposits of more than 100,000																														480,917	529,176	685,347	827,745	884,019	748,957	604,311	528,067	457,390	432,422
time deposits of less than 100,000																														1,388,223	1,466,012	1,421,289	1,406,934	1,351,423	1,277,793	1,218,070	1,055,168	875,902	843,353	373,840
other borrowings																														768,199	705,836	682,208	640,912	703,215	572,459	506,390	438,243	280,821	265,506	2,742
net interest income after the benefit from loan losses																														2,002,900		4,363,456	4,273,188	2,361,121
service charges																														434,595	408,143		405,332	368,771	233,472	334,468	228,441	215,275	191,378
net gains / (losses) from sale of loans and other assets																														146,613	-173,203	61,779	-52,247
other income																														149,083	28,174	29,304	41,221	11,462	205,932	69,526	189,661	453,178	241,634	182,212
occupancy and equipment expense																														387,897	406,700	383,173	379,881	309,020	365,803	347,909	281,483	244,211	271,995	233,126
other earning assets																															17,103	1,892	6,905	2,248	25,737	2,952	15,300	4,457	5,061
benefit from income taxes																															-1,849,687	598,981	556,007	-188,971
service charges and fees																																433,489
income before benefit from income taxes																																1,672,037	1,570,866	370,365
earnings per common share
federal funds purchased																																		103,629	211,278	192,476	15,555	113,173	95,890	4,286
the notes to consolidated finanical statements are an integral part of these statements.
income before provision for income taxes																																			2,466,476	2,600,199	2,543,514	2,398,510	2,168,034	853,846
provision for income taxes																																			902,289	948,422	997,065	935,298	812,960	330,500
interest and fees on loans																																								2,844,788
interest on investment securities																																								231,109
interest on federal funds sold																																								1,571
interest on other earning assets																																								428
now accounts																																								23,588
federal home loan bank advance																																								169,197
net interest income before the provision for loan losses																																								2,270,439
net securities gains

Balance Sheets:

Quarterly

Annual

Unit: USD	2026-03-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2016-03-31	2011-03-31	2010-12-31	2010-09-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2004-03-31

assets:
cash and due from banks	56,746,000	60,313,000	71,529,000	58,313,000	96,508,000	65,109,000	60,167,000	48,329,000	61,586,000	62,950,000	37,532,000	35,158,000		46,351,000	64,189,000	83,080,000	110,333,000	79,827,000	59,305,000	46,594,000		63,884,000	57,045,000	38,802,000	33,205,000	23,110,000	44,500,000	47,667,920	40,015,438	42,375,257	66,243,037	36,715,074	64,097,287	45,906,750	1,508,964		53,220,651	55,068,317		73,288,166	34,306,722			13,038,558	12,052,498		13,651,878	18,837,556	11,369,250	17,635,956	10,688,808	11,735,057	7,942,411	4,970,773
interest-bearing deposits with banks	282,379,000	462,766,000	276,041,000	352,869,000	277,005,000	125,298,000	219,545,000	343,778,000	233,237,000	297,652,000	198,756,000	205,166,000		428,318,000	525,556,000	643,388,000	897,244,000	969,929,000	544,095,000	442,793,000		411,625,000	258,271,000	194,454,000	127,329,000	146,300,000	75,371,000
federal funds sold	6,946,000	34,048,000	17,526,000	11,802,000	14,057,000	2,507,000	63,123,000	85,834,000	57,448,000	39,656,000	2,610,000	66,610,000		68,360,000	65,200,000	37,500,000	37,500,000	41,404,000	70,115,000	67,314,000		66,306,000	84,151,000	75,833,000	23,437,000	1,524,000	79,663,000				2,000,000	2,104,000	6,964,000	5,105,000									869,000			760,000					16,240,000		9,645,000	1,705,000
total cash and cash equivalents	346,071,000	557,127,000	365,096,000	422,984,000	387,570,000	192,914,000	342,835,000	477,941,000	352,271,000	400,258,000	238,898,000	306,934,000		543,029,000	654,945,000	763,968,000	1,045,077,000	1,091,160,000	673,515,000	556,701,000		541,815,000	399,467,000	309,089,000	183,971,000	170,934,000	199,534,000	132,994,435	115,822,459	130,104,208	170,235,110	96,710,089	113,026,884	68,932,872	41,430,631
securities available-for-sale, at fair value	552,083,000	511,095,000	502,150,000	499,445,000	482,328,000	501,336,000	500,821,000	474,347,000	408,410,000	385,131,000	540,308,000	560,418,000		519,723,000	524,864,000	540,483,000		339,343,000	250,817,000	250,937,000		214,634,000	219,631,000	201,002,000	178,348,000	171,507,000	174,114,000	198,272,685		173,038,716	156,577,182
securities held-to-maturity	120,968,000	123,364,000	124,520,000
other investments	16,597,000	14,888,000	14,713,000	14,371,000	14,740,000	20,352,000	13,780,000	13,718,000	13,662,000	13,805,000	14,396,000	14,059,000		15,528,000	16,569,000	16,499,000	16,494,000	14,972,000	14,584,000	14,728,000		14,829,000	14,829,000	14,113,000	12,913,000	12,913,000	12,905,000
loans held for sale	7,277,000	9,855,000	5,484,000	3,843,000	5,996,000	5,804,000	3,103,000	4,861,000	4,418,000	2,734,000	986,000	3,324,000		2,742,000	1,707,000	5,894,000	5,103,000	3,418,000	4,334,000	7,870,000		11,292,000	6,330,000	6,045,000	5,856,000	3,068,000	4,087,000
loans and leases	4,518,391,000	4,222,369,000	4,124,062,000	3,992,207,000	3,906,340,000	3,717,478,000	3,574,158,000	3,477,555,000	3,444,462,000	3,378,999,000	3,337,790,000	3,281,787,000		3,099,116,000	2,994,074,000	2,806,026,000	2,693,397,000	2,652,663,000	2,468,318,000
less: allowance for credit losses	-43,950,000	-39,074,000	-39,776,000	-38,175,000	-37,423,000	-35,609,000	-34,690,000	-34,203,000	-35,066,000	-33,687,000	-32,747,000	-32,279,000
premises and equipment	93,360,000	89,250,000	90,204,000	90,708,000	91,093,000	91,055,000	91,315,000	92,694,000	92,963,000	92,020,000	92,351,000	92,190,000		91,944,000	89,950,000	84,793,000	85,958,000	85,346,000	72,314,000	72,697,000		73,934,000	73,868,000	73,801,000	59,433,000	58,386,000	56,589,000																											4,858,170
other real estate owned			144,000	144,000	179,000	179,000	688,000	696,000	517,000	1,370,000	1,708,000	1,708,000		1,226,000	1,612,000	1,612,000	1,780,000	2,415,000	2,499,000	3,946,000		3,932,000	5,524,000	5,894,000	1,757,000	1,561,000	1,814,000
goodwill and other intangibles	94,871,000	95,807,000	103,588,000	104,154,000	104,723,000	105,324,000	105,929,000	106,537,000	107,148,000	107,792,000	108,439,000	109,114,000		110,460,000	104,582,000	105,215,000	105,852,000	104,930,000	90,966,000
bank owned life insurance	120,438,000	118,610,000	117,697,000	116,805,000	115,917,000	105,025,000	84,483,000	83,957,000	83,434,000	82,914,000	82,419,000	81,938,000		81,001,000	80,537,000	80,074,000	79,619,000	79,145,000	72,013,000	71,586,000		31,034,000	30,853,000	30,671,000	24,949,000	24,796,000	24,695,000
other assets	81,579,000	81,692,000	82,981,000	79,155,000	77,782,000	77,297,000	79,591,000	76,418,000	75,932,000	83,522,000	77,688,000	65,836,000	6,130,000	67,807,000	52,848,000	44,561,000	38,229,000	29,934,000	23,306,000	23,629,000	4,413,000	24,168,000	37,126,000	20,781,000	17,554,000	14,899,000	15,366,000	16,572,478	14,513,890	13,319,698	12,665,515	12,593,237	13,232,247	11,206,876	9,214,836		7,439,529	14,254,948		20,739,556	16,795,842			10,851,758	10,110,649		6,232,073	6,207,042	6,379,972	6,204,541	6,723,733	5,702,623	6,707,484	1,654,628
total assets	5,907,685,000	5,784,983,000	5,490,863,000	5,411,217,000	5,275,904,000	4,908,934,000	4,891,009,000	4,954,690,000	4,829,387,000	4,797,171,000	4,745,800,000	4,769,805,000	487,789,000	4,796,911,000	4,788,113,000	4,718,579,000	4,611,579,000	4,384,031,000	3,654,356,000	3,557,203,000	397,218,000	3,387,588,000	3,265,985,000	2,873,715,000	2,449,123,000	2,390,485,000	2,391,257,000	2,353,980,761	2,274,409,335	2,050,946,047	2,062,231,972	1,760,425,008	1,720,770,682	1,016,224,138	447,540,002	501,344,000	483,351,438	562,064,620	484,669,000	509,499,362	464,498,773	470,062,000	452,605,000	454,200,659	452,731,767	413,043,000	435,301,694	424,757,784	394,722,955	374,942,233	361,402,373	345,454,553	340,605,808	207,658,620
liabilities and shareholders' equity:
deposits:
noninterest-bearing demand	951,366,000	931,477,000	906,965,000	884,294,000	965,552,000	863,949,000	903,300,000	907,254,000	898,044,000	923,763,000	1,003,432,000	989,753,000		1,186,209,000	1,162,843,000	1,093,933,000	1,055,125,000	977,180,000	807,560,000	777,968,000		669,733,000	645,650,000	431,781,000	364,155,000	365,024,000	357,220,000
interest-bearing demand	954,292,000	929,454,000	843,820,000	885,063,000	836,731,000	834,207,000	988,057,000	996,298,000	1,006,915,000	993,717,000	938,758,000	989,738,000		962,901,000	999,893,000	975,272,000	899,158,000	847,007,000	702,470,000	683,887,000		534,128,000	479,212,000	444,141,000	380,234,000	351,474,000	333,705,000
money market and savings	2,455,945,000	2,218,313,000	2,124,623,000	2,131,828,000	2,039,560,000	1,854,777,000	1,901,281,000	1,952,410,000	1,812,427,000	1,766,409,000	1,720,202,000	1,761,847,000		1,663,355,000	1,607,714,000	1,573,101,000	1,493,007,000	1,389,393,000	1,140,029,000	1,073,941,000		871,098,000	762,246,000	730,392,000	623,284,000	634,934,000	648,132,000
time deposits	834,633,000	971,653,000	996,712,000	907,474,000	844,640,000	769,558,000	524,018,000	538,159,000	550,468,000	562,620,000	537,192,000	488,208,000		467,944,000	511,182,000	549,047,000	574,648,000	585,692,000	489,413,000	512,417,000		577,064,000	652,581,000	735,616,000	679,541,000	646,641,000	673,243,000	635,175,084	648,675,440	568,796,395	535,879,278	453,276,452	442,774,094	323,676,013	241,235,748	281,251,000
total deposits	5,196,236,000	5,050,897,000	4,872,120,000	4,808,659,000	4,686,483,000	4,322,491,000	4,316,656,000	4,394,121,000	4,267,854,000	4,246,509,000	4,199,584,000	4,229,546,000		4,280,409,000	4,281,632,000	4,191,353,000	4,021,938,000	3,799,272,000	3,139,472,000	3,048,213,000		2,652,023,000	2,539,689,000	2,341,930,000	2,047,214,000	1,998,073,000	2,012,300,000	1,994,330,197	1,921,963,991	1,707,311,346	1,716,657,567	1,499,733,494	1,438,582,719	859,111,221	337,486,594		351,366,828	429,197,785		386,088,308	337,039,699			314,006,016	314,882,327		334,627,110	297,612,672	294,840,310	275,816,533	278,369,546	252,498,622	270,309,756	163,367,303
borrowings	3,178,000	1,301,000	6,966,000	7,610,000	8,135,000	8,997,000	12,732,000	9,849,000	13,078,000	14,117,000	15,496,000	16,546,000		18,423,000	12,549,000	36,713,000	87,585,000	88,748,000	78,834,000	82,642,000		319,391,000	318,855,000
subordinated debt	98,733,000	138,604,000	39,726,000	39,705,000	39,684,000	39,663,000	42,142,000	42,120,000	42,099,000	42,078,000	42,057,000	42,036,000		41,994,000	41,973,000	41,952,000	41,930,000	41,909,000	39,388,000	39,367,000		39,325,000	39,304,000	39,283,000	39,261,000	39,240,000	39,219,000	39,198,068	39,176,947	39,158,444
other liabilities	47,377,000	55,699,000	52,924,000	49,302,000	50,141,000	48,760,000	47,014,000	41,804,000	46,470,000	47,815,000	43,816,000	38,278,000	822,000	41,374,000	31,532,000	28,519,000	30,696,000	29,382,000	23,269,000	22,923,000	704,000	27,060,000	24,649,000	24,699,000	18,278,000	17,304,000	16,448,000								1,282,836	-2,333,000	1,702,461	1,639,667	-3,205,000	867,551	1,232,141			1,021,952	1,192,301		999,967	1,826,422	2,427,262	1,884,342	1,838,797	1,848,030	1,973,658	1,222,992
total liabilities	5,345,524,000	5,246,501,000	4,971,736,000	4,905,276,000	4,784,443,000	4,419,911,000	4,418,544,000	4,487,894,000	4,369,501,000	4,350,519,000	4,300,953,000	4,326,406,000	55,337,000	4,382,200,000	4,367,686,000	4,298,537,000	4,182,149,000	3,959,311,000	3,280,963,000	3,193,145,000	40,050,000	3,037,799,000	2,922,497,000	2,537,515,000	2,136,376,000	2,084,445,000	2,091,646,000	2,063,499,958	1,991,397,854	1,799,304,184	1,814,745,395	1,551,476,093	1,514,918,842	914,235,989	420,250,426		452,386,808	533,481,723		478,195,657	431,799,687			417,101,495	415,977,544		394,028,000	383,970,336	355,144,116	336,758,968	324,537,845	310,301,207	306,828,619	190,195,724
commitments and contingent liabilities - see note 8
shareholders' equity:
preferred stock, 1 par value; 2,000,000 shares authorized; no shares issued and outstanding
common stock	17,098,000	17,028,000	17,018,000	17,018,000	16,926,000	16,926,000	16,926,000	17,057,000	16,989,000	16,995,000	17,004,000	17,004,000		16,888,000	16,898,000	16,893,000	16,803,000	16,801,000	15,110,000	15,105,000		15,233,000	15,217,000	15,222,000		13,958,000	13,953,000																											1,243,617
additional paid-in capital	296,284,000	295,742,000	295,209,000	294,736,000	294,269,000	293,909,000	293,586,000	296,061,000	295,699,000	295,542,000	295,296,000	294,930,000		293,907,000	293,815,000	293,376,000	292,937,000	292,760,000	252,039,000	251,836,000		254,626,000	254,396,000	254,356,000	232,732,000	232,573,000	232,386,000	232,240,747	231,851,730	208,998,738	208,512,862	174,981,206	174,008,753	82,716,630	21,257,083		21,218,645	21,181,339		20,741,824	20,421,034			20,219,581	20,149,781		22,036,374	21,992,619	21,902,946	21,849,006	21,727,064	21,642,880	21,399,199	12,193,318
retained earnings	261,032,000	236,380,000	224,061,000	213,721,000	203,824,000	195,537,000	187,751,000	181,103,000	173,105,000	168,271,000	167,564,000	160,085,000		144,723,000	134,362,000	125,329,000	118,247,000	112,600,000	103,906,000	96,034,000		78,918,000	73,283,000	67,869,000	65,839,000	59,806,000	53,843,000	44,722,239	39,990,990	33,558,861	29,234,901	25,303,346	21,888,575	13,231,351			1,000,461	768,641		3,885,474	5,904,317			10,517,531	9,886,855		12,678,465	12,445,155	11,207,054	9,881,029	12,010,957	10,659,688	9,391,229	3,819,230
accumulated other comprehensive loss	-12,366,000	-10,781,000	-17,274,000																							-297,000	-571,000	-433,773	-2,764,743	-3,666,008	-2,965,767	-2,569,443	-1,198,049
total shareholders' equity attributable to smartfinancial inc. and subsidiary	562,048,000	538,369,000	519,014,000	505,828,000	491,348,000
non-controlling interest - preferred stock of subsidiary	113,000	113,000	113,000	113,000	113,000
total shareholders' equity	562,161,000	538,482,000	519,127,000	505,941,000	491,461,000	489,023,000	472,465,000	466,796,000		446,652,000	444,847,000	443,399,000		414,711,000	420,427,000	420,042,000	429,430,000	424,720,000	373,393,000	364,058,000		349,789,000	343,488,000	336,200,000		306,040,000	299,611,000	290,480,803		251,641,863	247,486,577
total liabilities and shareholders' equity	5,907,685,000	5,784,983,000	5,490,863,000	5,411,217,000	5,275,904,000	4,908,934,000	4,891,009,000	4,954,690,000		4,797,171,000	4,745,800,000	4,769,805,000		4,796,911,000	4,788,113,000	4,718,579,000	4,611,579,000	4,384,031,000	3,654,356,000	3,557,203,000		3,387,588,000	3,265,985,000	2,873,715,000		2,390,485,000	2,391,257,000	2,353,980,761		2,050,946,047	2,062,231,972
securities held-to-maturity, at amortized cost				125,576,000	126,659,000	127,779,000	128,996,000	180,169,000	281,236,000	282,313,000	283,564,000	284,776,000		287,104,000	288,363,000	289,532,000
accumulated other comprehensive income				-19,647,000	-23,671,000	-17,349,000	-25,798,000	-27,425,000	-25,907,000	-34,156,000	-35,017,000	-28,620,000		-40,807,000	-24,648,000	-15,556,000	1,443,000	2,559,000	2,338,000	1,083,000		1,012,000	592,000	-1,247,000	168,000									210,964	17,867		820,955	132,521		303,470	54,017			42,334	397,869		39,137	-171,044	-46,279	-58,618	-126,652	-392,675	-226,820	206,731
										2,023,000	2,023,000	2,023,000						2,021,000	2,021,000	2,021,000		2,020,000	2,020,000
commitments and contingent liabilities - see note 14
liabilities and shareholders’ equity:
commitments and contingent liabilities – see note 14
shareholders’ equity:
total shareholders’ equity									459,886,000
total liabilities and shareholders’ equity									4,829,387,000				487,789,000								397,218,000
interest income:
loans and leases, including fees										47,539,000	45,446,000	44,728,000						31,674,000	28,323,000
securities:
taxable										4,335,000	4,335,000	3,651,000						832,000	916,000	724,000		546,000	589,000
tax-exempt										356,000	357,000	353,000						331,000	304,000	259,000		364,000	416,000
federal funds sold and other earning assets										3,045,000	1,956,000	4,446,000						474,000	309,000	291,000		327,000	277,000
total interest income										55,275,000	52,094,000	53,178,000						33,311,000	29,852,000	29,292,000		29,858,000	29,945,000
interest expense:
deposits										23,433,000	19,554,000	16,346,000						2,153,000	2,248,000	2,331,000		2,897,000	3,366,000
total interest expense										24,269,000	20,519,000	17,196,000						2,929,000	2,955,000	3,032,000		3,815,000	4,199,000
net interest income										31,006,000	31,575,000	35,982,000						30,382,000	26,897,000	26,260,000		26,043,000	25,746,000
benefit from credit losses										795,000	113,000	550,000
net interest income after benefit from credit losses										30,211,000	31,462,000	35,432,000
noninterest income:
service charges on deposit accounts										1,736,000	1,657,000	1,445,000						1,220,000	1,048,000	1,009,000		892,000	709,000
loss on sale of securities										-6,801,000
mortgage banking										309,000	332,000	172,000						994,000	1,105,000	1,139,000		1,029,000	931,000
investment services										1,461,000	1,300,000	1,005,000						448,000	567,000	531,000		359,000	363,000
insurance commissions										1,153,000	1,139,000	1,259,000						745,000	557,000	1,466,000		560,000	473,000
interchange and debit card transaction fees										1,357,000	1,347,000	1,383,000						1,078,000	922,000	839,000		868,000	508,000
other										1,476,000	1,355,000	1,661,000						1,779,000	944,000	707,000		422,000	511,000
total noninterest income										691,000	7,130,000	6,925,000						6,309,000	5,143,000	5,691,000		4,121,000	3,511,000
noninterest expense:
salaries and employee benefits										16,785,000	15,947,000	16,742,000						13,594,000	12,203,000	10,869,000		11,032,000	10,357,000
occupancy and equipment										3,547,000	3,318,000	3,208,000						2,536,000	2,294,000	2,341,000		2,186,000	1,996,000
fdic insurance										825,000	875,000	541,000						525,000	371,000	371,000		534,000	180,000
other real estate and loan related expense										603,000	441,000	572,000						407,000	506,000	602,000		643,000	346,000
advertising and marketing										346,000	305,000	355,000						235,000	230,000	190,000		253,000	202,000
data processing and technology										2,378,000	2,235,000	2,163,000						1,753,000	1,509,000	1,379,000
professional services										735,000	764,000	807,000						810,000	849,000	641,000		594,000	868,000
amortization of intangibles										647,000	675,000	659,000						711,000	441,000	444,000		402,000	405,000
merger related and restructuring expenses										110,000								464,000	372,000	103,000		290,000	1,477,000
total noninterest expense										28,516,000	27,410,000	27,529,000						23,309,000	20,797,000	19,464,000		19,167,000	18,806,000
income before income tax expense										2,386,000	11,182,000	14,828,000						12,233,000	11,248,000	12,420,000		8,363,000	7,601,000
income tax expense										319,000	2,346,000	3,328,000						2,633,000	2,470,000	2,664,000		1,968,000	1,427,000
net income										2,067,000	8,836,000	11,500,000						9,600,000	8,778,000	9,756,000		6,395,000	6,174,000													-4,707,521,000
earnings per common share:
basic										120	530	690						620	590	650		420	410
diluted										120	520	680						610	580	650		420	410
weighted-average common shares outstanding:
cash													6,202,000								8,062,000
investment in subsidiary													475,457,000
other borrowings													54,515,000								39,346,000															66,208,000			72,150,000			71,433,000	68,578,000			48,282,000
shareholders’ equity													432,452,000								357,168,000
less: allowance for loan and lease losses														-22,769,000	-21,938,000	-20,078,000	-19,352,000	-19,295,000	-18,310,000
debt securities available-for-sale, at fair value																	482,453,000
debt securities held-to-maturity, at amortized cost																	76,969,000
commitments and contingent liabilities
securities available-for-sale:
benefit from loan and lease losses																		1,149,000	-5,000
net interest income after benefit from loan and lease losses																		29,233,000	26,902,000
gain on sale of securities																		45,000				-9,000	16,000
loans																				2,487,129,000		2,404,057,000	2,408,284,000	2,139,247,000	1,897,392,000	1,864,679,000	1,832,902,000									311,407,000			363,146,000				385,957,000			353,278,000
less: allowance for loan losses																				-18,370,000		-18,817,000	-16,254,000	-13,431,000	-10,243,000	-9,792,000	-9,097,000
goodwill and core deposit intangible																				86,350,000		86,710,000	86,327,000	86,503,000	77,193,000	77,534,000	78,348,000	78,690,076	79,033,607	68,253,527	68,449,478	50,659,861	50,836,840	6,847,754
loans, including fees																				28,018,000		28,621,000	28,663,000
benefit from loan losses																				67,000		2,634,000	2,850,000
net interest income after benefit from loan losses																				26,193,000		23,409,000	22,896,000
investment in subsidiaries																					384,743,000
merger termination fee
data processing																						558,000	594,000
software as service contracts																						573,000	561,000
securities sold under agreement to repurchase																								6,164,000	6,184,000	4,368,000	8,219,000	7,069,668	11,755,923	16,786,492	18,635,215	15,967,801	24,054,730	20,747,022									18,580,000			8,103,000
federal home loan bank advances and other borrowings																								125,439,000	25,439,000	25,460,000	15,460,000	8,604,917		25,324,000	72,040,028	30,000,000	43,600,000	30,125,169	53,480,000			72,300,000
liabilities and stockholders' equity:
stockholders' equity:
preferred stock - 1 par value; 2,000,000 shares authorized; no shares issued and outstanding
common stock - 1 par value; 40,000,000 shares authorized; 14,008,233 and 13,933,504 shares issued and outstanding, respectively																									14,008,000
total stockholders' equity																									312,747,000				283,011,481			208,948,915	205,851,840	101,988,149	27,289,576		30,964,630	28,582,897		31,303,705	32,699,086			37,099,164	36,754,223		41,273,694	40,787,448	39,578,839		36,864,528	35,153,346	33,777,189
total liabilities and stockholders' equity																									2,449,123,000				2,274,409,335			1,760,425,008	1,720,770,682	1,016,224,138	447,540,002	501,344,000	483,351,438	562,064,620		509,499,362	464,498,773		452,605,000	454,200,659	452,731,767		435,301,694	424,757,784	394,722,955		361,402,373	345,454,553	340,605,808
assets
liabilities and shareholders' equity
interest-bearing deposits at other financial institutions																												85,326,515	75,807,021	87,728,951	101,992,073	57,891,015	41,965,597	17,921,122	39,921,667
restricted investments, at cost																												12,397,950	11,499,000	10,735,550	8,272,600	7,808,300	6,430,700	4,451,250
loans, net of allowance for loan losses of 8,704,413 at march 31, 2019 and 8,275,055 at december 31, 2018																												1,831,864,834
bank premises and equipment																												56,582,528	56,012,184	51,138,105	52,202,992	44,202,080	43,000,249	25,679,675	5,961,127		8,235,095	7,783,678		8,041,869	8,104,060			6,498,866	6,464,941		6,464,125	6,446,433	6,314,255	6,134,009	5,376,400	5,309,122	7,121,949
foreclosed assets																												2,066,263	2,495,458	4,230,451	3,524,239	2,665,057	3,254,392	5,132,706	20,463,835		13,427,436	8,240,322
cash surrender value of life insurance																												24,539,512	24,381,485	22,088,149	21,944,300	21,796,960	21,646,894
noninterest-bearing demand deposits																												329,095,443	319,861,237	301,197,142	301,317,854	276,248,990	220,520,287	132,481,514	33,529,178		38,609,397	46,844,104		40,795,512	42,146,564			41,698,204	41,338,338		47,117,210	45,589,496	43,503,693		41,678,654	43,985,216	41,589,006
interest-bearing demand deposits																												331,628,819	311,482,434	267,146,177	246,942,432	278,965,430	231,643,508	161,453,751	27,945,913		25,102,235	38,594,782		23,919,357	30,398,515			28,483,315	31,482,892		33,968,360	40,584,518	41,089,081	38,159,718	34,648,459	34,814,907	39,008,765
money market and savings deposits																												698,430,851	641,944,880	570,171,632	632,518,003	491,242,622	543,644,830	241,499,943
accrued expenses and other liabilities																												14,297,108	7,258,460	10,723,902	7,412,585	5,774,798	8,681,393	4,252,577								-854,000
preferred stock - 1 par value; 2,000,000 shares authorized; none issued and outstanding as of march 31, 2019 and december 31, 2018
common stock - 1 par value; 40,000,000 shares authorized; 13,951,590 and 13,933,504 shares issued and outstanding in 2019 and 2018, respectively																												13,951,590
securities available-for-sale																													201,687,683
loans, net of allowance for loan losses of 8,275,055 in 2018 and 5,860,291 in 2017																													1,768,963,569
liabilities and stockholders' equity
federal funds purchased and other borrowings																													11,242,533
preferred stock - 1 par value; 2,000,000 shares authorized; none issued and outstanding as of december 31, 2018 and 2017
common stock - 1 par value; 40,000,000 shares authorized; 13,933,504 and 11,152,561 shares issued and outstanding in 2018 and 2017, respectively																													13,933,504
loans, net of allowance for loan losses of 7,156,025 at september 30, 2018 and 5,860,291 at december 31, 2017																														1,578,037,643
preferred stock - 1 par value; 2,000,000 shares authorized; none issued and outstanding as of september 30,2018 and december 31,2017
common stock - 1 par value; 40,000,000 shares authorized; 12,750,272 and 11,152,561 shares issued and outstanding in 2018 and 2017, respectively																														12,750,272
loans, net of allowance for loan losses of 7,073,937 at june 30, 2018 and 5,860,291 at december 31, 2017																															1,568,360,556
preferred stock - 1 par value; 2,000,000 shares authorized; none issued and outstanding as of june 30,2018 and december 31,2017
common stock - 1 par value; 40,000,000 shares authorized; 12,704,581 and 11,152,561 shares issued and outstanding in 2018 and 2017, respectively																															12,704,581
securities available for sale																																156,209,802	151,944,567	157,560,615	100,788,157		108,790,555	150,520,500		59,134,602	45,699,449			45,764,498	42,469,452		33,648,512	33,026,566	32,779,306	32,353,380	32,538,739	32,493,361	31,139,169
loans, net of allowance for loan losses of 6,476,719 at march 31, 2018 and 5,860,291 at december 31, 2017																																1,367,779,622
preferred stock - 1 par value; 2,000,000 shares authorized; none issued and outstanding as of march 31,2018 and december 31,2017
common stock - 1 par value; 40,000,000 shares authorized; 11,233,806 and 11,152,561 shares issued and outstanding in 2018 and 2017, respectively																																11,233,806
loans, net of allowance for loan losses of 5,860,291 in 2017 and 5,105,255 in 2016																																	1,317,397,909
preferred stock - 1 par value; 2,000,000 shares authorized; none issued and outstanding as of december 31, 2017; 12,000 issued and outstanding in 2016
common stock - 1 par value; 40,000,000 shares authorized; 11,152,561 and 5,896,033 shares issued and outstanding in 2017 and 2016, respectively																																	11,152,561
loans, net of allowance for loan losses of 4,527,547 at march 31, 2016 and 4,354,513 at december 31, 2015																																		736,412,390
preferred stock - 1 par value; 2,000,000 shares authorized; 12,000 issued and outstanding in 2016 and 2015																																		12,000
common stock - 1 par value; 40,000,000 shares authorized; 5,817,204 and 5,806,477 shares issued and outstanding in 2016 and 2015, respectively																																		5,817,204
securities held to maturity																																			92,064		101,340	129,150		141,352	154,426			184,010	193,608		209,153	220,114	229,149	236,169	255,788	265,786	276,001
federal home loan bank stock, at cost																																			2,322,900		2,322,900	2,322,900		2,229,200	2,229,200			2,099,100	2,019,200		1,911,600	1,911,600	1,356,400	1,332,100	1,313,100	1,296,400	1,048,800
loans, net of allowance for loan losses of 7,913,933 at march 31, 2011 and 9,132,171 at december 31, 2010																																			265,835,680
accrued interest receivable																																			1,430,772		1,456,314	1,981,123		1,712,276	1,414,384			1,795,990	2,075,764		2,433,842	2,264,379	2,241,187	2,120,778	2,082,859	1,798,468	1,686,439	854,661
savings deposits and money market accounts																																			34,775,755		32,158,476	31,191,149		31,581,290	31,639,974			45,850,966	61,524,760		63,483,713	45,980,315	48,736,110	56,913,225	62,629,684	45,722,121	62,428,515	31,191,877
federal funds purchased and securities sold under agreements to repurchase																																			27,789,544		37,181,597			18,136,273	20,526,479				38,373,370					19,249,701
accrued interest payable																																			211,452		370,922	387,987		753,525	651,368			293,401	429,546		482,371	268,489	311,732	308,392	348,702	263,314	192,080	97,211
preferred stock - no par value; 2,000,000 shares authorized; 148,920 shares issued and outstanding in 2011 and 114,540 shares issued and outstanding in 2010																																			3,579,085
common stock - l.00 par value; 20,000,000 shares authorized; 6,709,199 issued in 2011 and 2010; 6,500,396 outstanding in 2011 and 2010																																			6,500,396
retained																																			-4,064,855
number of common shares outstanding																																				6,500,396,000
total stockholders’ equity																																				25,819,153,000														38,183,265				17,462,896
less: preferred stock																																				2,727,424,000
book value																																				23,091,729,000
book value per common share																																				3,550
less: goodwill and other intangible assets																																				37,317,000
tangible book value																																				23,054,412,000
effect of intangible assets per common share
tangible book value per common share																																				3,550
average equity																																				29,820,000,000
return on average equity
average tangible equity																																				29,782,683,000
effect of intangible assets
return on average tangible equity
yields earned on average earning assets and rates paid on average interest bearing liabilities
years ended december 31,
(in thousands) assets
interest-earning assets:
investment securities																																				128,795,000			63,854,000			53,082,000	47,096,000			37,673,000
other earning assets																																				36,319,000			40,085,000			13,960,000
total interest-earning assets																																				476,521,000			467,085,000				433,922,000			391,711,000
allowance for loan losses																																				-6,454,000			-8,088,000			-9,138,000	-8,496,000			-5,009,000
cash and other assets																																				31,277,000			25,672,000			28,419,000	27,179,000			26,341,000
total liabilities and equity
interest-bearing liabilities:
now accounts																																				32,338,000			27,864,000				30,106,000			36,327,000								25,964,903
money market / savings																																				32,240,000			35,269,000				51,600,000			55,808,000
total interest-bearing deposits																																				345,829,000			319,684,000				271,927,000			260,805,000
federal funds purchased																																				197,000							12,952,000			11,374,000
securities sold under
agreement to repurchase																																				22,519,000			21,624,000
total interest-bearing
liabilities																																				434,753,000			413,458,000							328,564,000
net interest spread																																							2,950			3,993,000	3,670			4,510
other liabilities:
demand deposits																																				39,104,000			40,816,000				42,915,000			41,503,000
accrued interest payable and
stockholders' equity																																				29,820,000							37,435,000			40,737,000
net interest margin																																							15,119,000				17,982,000			20,369,000
loans, net of allowance for loan losses of 6,271,114 at september 30, 2010 and 5,905,054 at december 31, 2009																																					285,774,624
goodwill and amortizable intangibles																																					2,582,994	2,575,753		2,560,818	2,562,760			2,899,405	2,928,868		2,969,816	3,002,556	3,018,610	3,046,287	3,269,967	3,313,169	3,341,152
time deposits of 100,000 or more																																					105,575,691	115,386,130		89,529,840	65,244,121	59,628,000		61,423,622	60,489,904		69,172,011	65,710,833	57,569,963	44,544,335	46,552,734	42,348,373	43,881,140	22,206,569
time deposits of less than 100,000																																					149,921,029	197,181,620		200,262,309	167,610,525			136,549,909	120,046,433		120,885,816	99,747,510	103,941,463		92,860,015	85,628,005	83,402,330	56,643,884
federal home loan bank advances and other borrowing																																					61,765,000
preferred stock - no par value; 2,000,000 shares authorized; 61,740 shares issued and outstanding in 2010																																					1,424,173
common stock - l.00 par value; 20,000,000 shares authorized; 6,709,199 issued in 2010 and 2009; 6,500,396 outstanding in 2010 and 2009																																					6,500,396
loans, net of allowance for loan losses of																																																					271,697,403
6,760,484 at march 31, 2010
and 5,905,054 at december 31, 2009																																						319,187,929
federal funds purchased and securities sold under
agreements to repurchase																																						29,956,284									15,918,552	31,262,753	18,314,812		2,980,800	14,691,241	3,353,125
preferred stock - no par value; 2,000,000 shares
authorized; no shares issued
common stock - l.00 par value; 10,000,000 shares authorized;
6,709,199 issued in 2010 and 2009;
6,500,396 outstanding in 2010 and 2009																																						6,500,396
time deposits, 100m and
over																																							61,533,000							61,172,000
time deposits, under 100m																																							195,018,000				131,138,000			107,498,000
stockholders’ equity																																							33,600,000
and stockholders’ equity																																							484,669,000
cash and cash equivalents																																								73,288,166	34,306,722			13,038,558	12,052,498		13,651,878	18,837,556	11,369,250				17,587,411
loans, net of allowance for loan losses of 7,398,212 at september 30, 2009 and 9,618,265 at december 31, 2008																																								341,651,523
federal home loan bank advances and line of credit																																								72,350,000	72,350,000			66,450,000	61,100,000		42,000,000	53,000,000	39,250,000	39,500,000
preferred stock - no par value; 2,000,000 shares authorized; no shares issued
common stock - l.00 par value; 10,000,000 shares authorized; 6,577,646 issued in 2009 and 6,522,718 issued in 2008; 6,372,937 outstanding in 2009 and 6,319,718 outstanding in 2008																																								6,372,937
loans, net of allowance for loan losses of 7,383,314 at june 30, 2009 and 9,618,265 at december 31, 2008																																									353,231,930
common stock - l.00 par value; 10,000,000 shares authorized;6,522,718 issued in 2009 and 2008; 6,319,718 outstanding in 2009 and 2008																																									6,319,718
earning assets:
loans, net of unearned income																																										383,739,000
total earning assets																																										450,781,000
liabilities and shareholder's equity
interest bearing liabilities:
interest bearing demand deposits																																										28,823,000
savings deposits																																										7,818,000
mmda's																																										33,056,000
time deposits of 100,000 or less																																										165,618,000
federal funds purchased and securities
sold under agreements to repurchase																																										24,550,000
total interest bearing liabilities																																										390,926,000
noninterest bearing demand deposits																																										43,064,000
shareholder's equity																																										36,926,000
total liabilities and
shareholders' equity																																										470,062,000
net yield on earning assets																																										3,650
taxable equivalent adjustment:
total adjustment																																										60,000
time deposits, 100m and over																																											59,083,000
total interest-bearing liabilities																																											372,037,000
accrued interest payable and other liabilities																																											218,000			2,240,000
loans, net of allowance for loan losses of 7,386,768 at june 30, 2008 and 13,710,109 at december 31, 2007																																												371,068,474
federal funds purchased and securites sold under agreements to repurchase																																												35,330,126
common stock - l.00 par value; 10,000,000 shares authorized; 6,522,718 and 6,522,718 issued in 2008 and 2007; 6,319,718 and 6,369,718 outstanding in 2008 and 2007																																												6,319,718	6,319,718
loans, net of allowance for loan losses of 7,616,532 at march 31, 2008 and 13,710,109 at december 31, 2007																																													374,416,787
and stockholders' equity																																														413,043,000
6,780,506 at september 30, 2007
and 4,258,352 at december 31, 2006																																															367,780,695
federal funds purchased and securites sold under
6,522,718 and 6,511,848 issued in 2007 and 2006;
6,519,718 and 6,511,848 outstanding in 2007 and 2006																																															6,519,718
4,241,303 at june 30, 2007 and 4,258,352 at
december 31, 2006																																																352,841,538	331,034,826
6,520,718 and 6,511,848 outstanding in 2007 and 2006																																																6,520,718
4,061,781 at march 31, 2007, 4,258,352 at
6,516,118 and 6,511,848 issued in 2007 and 2006;
6,515,118 and 6,511,848 outstanding in 2007 and 2006																																																	6,515,118
loans, net of allowance for loan losses of 4,258,352 in 2006 and 3,545,042 in 2005																																																		305,879,013
non-interest-bearing demand deposits																																																		41,722,570
time deposits under 100,000																																																		94,476,685
preferred stock – no par value; 2,000,000 shares authorized; no shares issued
common stock – 1.00 par value; 10,000,000 shares authorized; 6,511,848 and 3,201,334 shares issued in 2006 and 2005; 6,511,848 and 3,200,863 outstanding in 2006 and 2005																																																		6,511,848
total liabilities and stockholders’ equity																																																		374,942,233
total cash and due from banks																																																			26,928,808
4,399,602 at september 30, 2006, and 3,545,042 at
december 31, 2005																																																			282,912,979	283,540,567
federal home loan bank advances																																																			41,000,000	41,000,000	31,000,000
common stock - 1.00 par value; 10,000,000 shares authorized
at september 30, 2006, and december 31, 2005;
issued 3,255,924; outstanding 3,253,159 at setpember 30, 2006,
issued 3,201,334; outstanding 3,200,863 at december 31, 2005																																																			3,253,159	3,243,453
4,284,586 at june 30, 2006, and 3,545,042 at
at june 30, 2006, and december 31, 2005;
issued 3,245,924; outstanding 3,243,453 at june 30, 2006,
3,891,711 at march 31, 2006, 3,545,042 at
december 31, 2005 and 2,845,765 at march 31, 2005
common stock - l.00 par value; 10,000,000 shares authorized
at march 31, 2006, december 31, 2005 and at march 31, 2005
issued and outstanding - 3,223,284 at march 31, 2006,
3,201,334 at december 31, 2005 and 3,011,334 at
march 31, 2005																																																					3,223,284
treasury stock
december 31, 2005, at cost																																																					-9,703
due from banks time deposits
investment securities available for sale																																																						22,581,474
investment securities held to maturity																																																						583,527
federal home loan bank stock																																																						675,900
loans, less allowance for loan loss																																																						167,233,011
excess cost over fair value of assets acquired																																																						2,541,476
liabilities and stockholders’ equity
noninterest-bearing																																																						27,360,070
federal funds purchased and securites sold under agreement to repurchase																																																						3,108,218
federal home loan bank advance and note payable																																																						22,400,000
total liabilities and stockholders equity																																																						207,658,620

Cashflow Statements:

Quarterly

Annual

Unit: USD	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2016-03-31	2011-03-31	2010-12-31	2010-03-31	2009-09-30	2009-06-30	2009-03-31	2008-06-30	2008-03-31	2007-09-30	2007-06-30	2007-03-31	2006-09-30	2006-06-30	2006-03-31

cash flows from operating activities:
net income	13,685,000	11,705,000	11,254,000	9,641,000	9,140,000	8,002,000	9,358,000	6,190,000	2,067,000	8,836,000	11,500,000	13,004,000	11,543,000	10,216,000	8,259,000	6,656,000	9,600,000	8,778,000	9,756,000	9,030,000	6,395,000	6,175,000	2,732,000	6,733,000	5,963,000	9,120,751	4,731,249	6,432,129	4,323,960	3,931,555	3,414,771	1,348,863	252,275	-5,283,128					1,073,054	1,014,859	559,336	1,564,186	1,651,777	4,364,736	2,818,288	1,355,074
adjustments to reconcile net income to net cash from operating activities:
depreciation and amortization	1,960,000	2,149,000	2,168,000	2,090,000	2,229,000	2,211,000	2,460,000	2,502,000	2,866,000	2,892,000	2,614,000	2,563,000	2,556,000	2,531,000	2,387,000	2,006,000	1,607,000	1,633,000	1,499,000	1,584,000	1,649,000	1,154,000	1,634,000	1,004,000	1,208,000				1,035,098	975,278	932,691	525,809	62,414	212,992	127,676	116,731	339,486	161,338	125,536	156,054	156,901	23,823	143,059	422,590	294,514	144,674
amortization of intangible assets	536,000	566,000	569,000	601,000	604,000	608,000	612,000	643,000	647,000	675,000	659,000
provision for credit losses	227,000	2,412,000	979,000		2,575,000	883,000	-440,000	1,571,000			550,000
stock compensation expense	478,000	473,000	761,000	363,000	372,000	376,000	518,000	173,000	272,000	366,000	538,000	309,000	281,000	398,000	312,000	172,000	158,000	162,000	201,000	117,000	142,000	113,000	110,000	85,000	156,000	132,611	143,389					33,635	19,785	18,653	18,653	54,698	54,698	54,698	69,800	70,000
loss on sale of securities available-for-sale	3,715,000
deferred income tax expense	-212,000	-922,000	988,000	-508,000	-665,000	-146,000	1,439,000	-492,000	62,000	-1,736,000	3,475,000	-55,000	-828,000	-620,000	948,000	-88,000	584,000	-299,000	446,000	-1,182,000	-246,000	119,000	90,000	-398,000	139,000	135	1,038,865
increase in cash surrender value of bank-owned life insurance	-913,000	-892,000	-888,000	-892,000
net losses from sale and write-downs of other real estate owned and other repossessed assets	259,000	165,000	84,000		289,000
net gains from mortgage banking	-683,000	-606,000	-464,000	-513,000	-382,000	-318,000	-250,000	-227,000	-309,000	-332,000	-172,000	-77,000	-170,000	-471,000	-834,000	-802,000	-994,000	-1,105,000	-1,139,000
origination of loans held for sale	-14,899,000	-11,824,000	-4,758,000	-8,835,000	-15,699,000	-14,486,000	-10,825,000	-17,306,000	-9,595,000	-8,671,000	-10,319,000	-1,418,000	-5,128,000	-11,796,000	-30,916,000	-29,133,000	-31,464,000	-30,667,000	-35,229,000	-43,799,000	-49,335,000	-34,693,000	-15,195,000	-19,723,000	-15,842,000
proceeds from sales of loans held for sale	11,211,000	10,790,000	7,374,000	9,156,000	13,380,000	16,562,000	10,632,000	15,849,000	8,157,000	11,340,000	8,919,000	2,485,000	4,263,000	16,454,000	30,959,000	28,250,000	33,373,000	35,309,000	40,219,000	44,701,000	45,401,000	35,347,000	15,582,000	17,309,000	17,378,000
gain from sale of sbki
net loss from sale/disposal of fixed assets	0	-12,000	26,000		0	-274,000	-1,373,000	-37,000
net change in:
accrued interest receivable	-259,000	-481,000	-106,000	-700,000	-398,000	264,000	-64,000	-2,070,000	474,000	-1,176,000	-217,000	-2,180,000	-465,000	-1,145,000	-452,000	-1,265,000	765,000	1,395,000	-86,000	765,000	2,015,000	-5,271,000	35,000	-140,000	405,000	480,865	-1,092,865	300,217	-427,655	101,943	-352,171	106,932	-104,292	129,834	-460,424	-297,892	456,171	-99,464	279,774	332,213	-169,463	-23,192	-120,409	-343,399	-59,008	53,021
accrued interest payable	1,451,000	-265,000	1,188,000	0	854,000	177,000	-781,000	1,062,000	158,000	1,194,000	106,000	969,000	-769,000	-576,000	352,000	-488,000	93,000	-585,000	367,000	-963,000	489,000	-466,000	784,000	-502,000	446,000	-293,512	747,512	589,090	179,250	26,893	21,507	10,061	34,691	-194,161	36,627	102,157	-13,705	195,487	-136,145	213,460	213,882	-43,243	3,340	105,838	20,450	-50,784
other assets	4,336,000	-1,354,000	-1,696,000	427,000	3,875,000	1,102,000	-1,616,000	10,153,000	-6,369,000	-7,190,000	1,674,000	-345,000	-12,998,000	-6,837,000	-5,244,000	-6,047,000	601,000	219,000	-1,234,000	2,679,000	11,868,000	-10,703,000	685,000	-1,776,000	263,000
other liabilities	-52,000	2,114,000	-3,192,000	3,358,000	-3,235,000	1,828,000	-2,071,000	-5,851,000	1,148,000	4,086,000	-7,512,000	-1,462,000	14,590,000	8,871,000	5,019,000	2,204,000	1,206,000	1,425,000	3,078,000	-3,854,000	2,033,000	-487,000	2,010,000	2,322,000	-763,000
net cash from operating activities	16,885,000	14,022,000	14,287,000	16,684,000	12,397,000	16,543,000	7,076,000	11,707,000	6,680,000	9,975,000	11,354,000	15,212,000	13,174,000	17,713,000	10,694,000	631,000	14,370,000	15,091,000	16,090,000	6,843,000	20,946,000	-7,822,000	9,102,000	3,744,000	8,184,000	10,243,016	7,694,984	4,179,996	4,446,263	9,020,977	3,176,730	3,860,935	50,083	749,657	2,164,673	2,605,551	1,686,371	97,597	1,104,397	-1,760,750	2,859,356	1,077,737	2,342,775	2,662,944	2,007,614
capital expenditures	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
free cash flows	16,885,000	14,022,000	14,287,000	16,684,000	12,397,000	16,543,000	7,076,000	11,707,000	6,680,000	9,975,000	11,354,000	15,212,000	13,174,000	17,713,000	10,694,000	631,000	14,370,000	15,091,000	16,090,000	6,843,000	20,946,000	-7,822,000	9,102,000	3,744,000	8,184,000	10,243,016	7,694,984	4,179,996	4,446,263	9,020,977	3,176,730	3,860,935	50,083	749,657	2,164,673	2,605,551	1,686,371	97,597	1,104,397	-1,760,750	2,859,356	1,077,737	2,342,775	2,662,944	2,007,614
cash flows from investing activities:
available-for-sale:
proceeds from sales								0
proceeds from maturities, calls and paydowns	28,909,000	15,031,000	11,144,000	21,169,000	13,858,000	11,564,000	11,394,000	23,869,000	11,913,000	12,937,000	7,554,000	7,471,000	10,896,000	11,030,000	10,217,000
purchases	-132,978,000	-15,203,000	-23,639,000	-11,441,000	-2,546,000	-36,380,000	-81,009,000	-36,160,000	-16,328,000	-1,490,000	-76,606,000	-1,987,000	-28,475,000	-9,771,000	-257,101,000
held-to-maturity:
proceeds from sales of other investments	0	0	1,041,000	5,612,000	213,000			143,000	616,000	573,000	1,480,000	0				0	146,000	143,000	147,000
purchases of other investments	-3,100,000	-869,000	-797,000	0	-6,955,000	-247,000	-205,000	0	-25,000	-910,000	-9,000	-3,000	-13,000	-70,000	-5,000	-1,522,000	0	0	-80,000	0	0	-716,000	-507,000		-8,000
purchases of bank-owned life insurance				-10,000,000
proceeds from sale of sbki, net of transaction cost
net increase in loans and leases	-100,172,000	-132,577,000	-87,115,000	-189,538,000	-145,946,000	-99,706,000	-34,057,000	-65,585,000	-63,109,000	-55,954,000	-28,943,000			-187,242,000	-112,551,000
proceeds from sale of fixed assets	56,000	50,000	17,000	0	0	1,450,000	3,248,000	49,000	10,000	0	623,000	0	182,000	54,000	1,224,000
purchases of premises and equipment	-328,000	-778,000	-929,000	-1,333,000	-1,055,000	-1,103,000	-2,914,000	-2,254,000	-957,000	-1,498,000	-1,561,000	-1,797,000	-3,332,000	-6,479,000	-879,000	-1,774,000	1,030,000	-624,000	-1,009,000	-989,000	-1,033,000	-988,000	-2,429,000		-2,495,000
proceeds from sale of other real estate owned and other repossessed assets	650,000	427,000	730,000	1,001,000	1,190,000
net cash from investing activities	-95,252,000	-133,371,000	-98,978,000	-183,925,000	-160,532,000	-72,749,000	-3,016,000					-110,957,000	-128,455,000	-191,844,000	-409,562,000	-267,453,000	171,063,000	15,065,000	-183,668,000	21,115,000	9,330,000	-286,182,000	-3,601,000	-40,990,000	-28,467,000	30,308,880	-55,628,880	-18,286,501	-26,088,608	9,212,168	-59,711,914	-4,003,587	13,278,259	3,568,819	-13,338,632	-10,072,621	14,073,982	1,143,433	-1,106,404	-12,616,830	-18,376,886	-22,793,867	-26,124,823	-25,331,536	-25,840,488	-14,302,355
cash flows from financing activities:
net increase in deposits	178,783,000	63,471,000	122,188,000	364,003,000	5,853,000	-77,447,000	126,287,000	21,366,000	46,955,000	-29,927,000	152,493,000	-203,242,000	-1,128,000	90,409,000	169,591,000	222,905,000	224,000,000	91,326,000	243,084,000	153,077,000	112,191,000	197,970,000	22,158,000	49,064,000	-14,502,000	17,969,971	72,166,029	29,194,287	-9,530,577	14,454,976	60,954,797	628,670	2,039,504	-15,919,738	24,455,672		-12,851,994	23,308,470	-876,311	1,632,602	37,014,438	2,772,362	19,023,777	25,933,656	62,732	17,873,866
net decrease in securities sold under agreements to repurchase	-1,664,000						-1,229,000				-729,000						1,618,000					-507,000	-20,000	1,816,000	-3,851,000	1,149,255	-4,686,255	-5,331,404	-1,848,723	2,667,414	-8,086,929	-7,321,193											-934,889	-1,809,937	9,900,504	-1,437,612
proceeds from borrowings	0			5,100,000	151,000,000			275,000	0			25,885,000				701,000				1,335,000	0
repayment of borrowings	-4,000,000			-6,100,000	-156,500,000	-2,000,000	-2,000,000	-275,000	22,085,000	-28,000,000	-24,585,000
cash dividends paid	-1,366,000	-1,365,000	-1,357,000	-1,354,000	-1,354,000	-1,354,000	-1,360,000	-1,356,000	-1,360,000	-1,357,000	-1,354,000	-1,182,000	-1,182,000	-1,183,000	-1,177,000	-1,009,000	-906,000	-906,000	-907,000	-763,000	-760,000	-761,000	-702,000
issuance of subordinated debt, net of issuance costs
issuance of common stock	91,000	0	63,000	0	25,000	0	43,000							46,000	217,000	6,000	0	47,000	147,000	57,000	104,000	5,000	173,000	124,000	36,000	14,286	263,714	0	448,327	129,458	950,521	77,707									0	55,469	17,456			138,703
restricted shares withheld for taxes	-26,000	0	-265,000	-3,000	-75,000	-14,000	-131,000
repurchases of common stock				0	1,000											0	0
net cash from financing activities	270,398,000	61,461,000	120,105,000	361,897,000	-1,786,000	-78,900,000	121,610,000	18,949,000	68,766,000	-32,334,000	125,990,000	-180,860,000	3,365,000	65,108,000	117,759,000	220,739,000	232,212,000	86,658,000	242,560,000	-88,054,000	112,071,000	384,383,000	119,617,000	50,283,000	-8,317,000	25,988,128	65,105,872	-175,244	-18,488,557	55,291,876	40,218,389	-10,889,109	5,120,337	-34,557,175	28,040,071	46,448,514	-16,365,142	11,773,091	988,067	11,496,729	10,331,852	29,184,436	17,515,342	35,006,901	20,977,432	17,574,957
net change in cash and cash equivalents	192,031,000	-57,888,000	35,414,000	194,656,000	-149,921,000	-135,106,000	125,670,000	-47,987,000	161,360,000	-68,036,000	40,510,000	-276,605,000	-111,916,000	-109,023,000	-281,109,000	-46,083,000	417,645,000	116,814,000	74,982,000	-60,096,000	142,347,000	90,379,000	125,118,000	13,037,000
cash and cash equivalents, beginning of period	0	0	387,570,000	0	0	0	352,271,000	0	0	0	266,424,000	0	0	0	1,045,077,000	0	0	0	481,719,000	0	1,000	-1,000	183,971,000		0								22,981,952		38,202,205	0	0	21,897,390	0	14,933,349	0	0	17,635,956	14,590,499	14,590,499	14,590,499
cash and cash equivalents, end of period	192,031,000	-57,888,000	422,984,000	194,656,000	-149,921,000	-135,106,000	477,941,000	-47,987,000	161,360,000	-68,036,000	306,934,000	-276,605,000	-111,916,000	-109,023,000	763,968,000	-46,083,000	417,645,000	116,814,000	556,701,000	-60,096,000	142,348,000	90,378,000	309,089,000	13,037,000	-28,600,000	66,539,565	132,994,435		-40,130,902	73,525,021	96,710,089		41,430,631		55,068,317	38,981,444
supplemental disclosures of cash flow information:
cash paid during the period for interest	30,638,000	29,375,000	26,950,000	28,458,000	28,071,000	28,293,000	28,843,000	25,006,000	24,020,000	19,326,000	17,091,000	8,732,000	6,357,000	4,155,000	2,112,000	3,411,000	2,540,000	3,540,000	2,665,000	4,270,000	3,325,000	4,665,000	4,643,000	6,426,000	5,758,000	6,795,217	5,197,783	4,746,787	4,028,954	3,428,470	2,545,226	1,012,953	1,721,031	2,112,834	2,559,735	2,663,795	2,804,774	2,675,189	3,359,598	3,256,416	3,571,321	3,456,558	3,185,717	7,269,032	784,542	2,204,909
net cash paid during the period for income taxes	3,998,000	5,095,000	23,000	2,050,000	2,429,000	4,290,000	5,000	-59,000	829,000
noncash investing and financing activities:
recognition of operating lease assets in exchange for lease liabilities	176,000	559,000	55,000	614,000	46,000	2,814,000	99,000	0	0
acquisition of real estate through foreclosure				0	0	0	179,000	0	0	0	272,000					48,000	429,000	137,000	14,000	0	0	295,000	676,000	222,000	14,000	348,480	54,520	1,289,103	799,910	2,215,815	135,038		7,774,928	997,583	460,000	5,043,834
acquisition of other repossessed assets	812,000	576,000	1,156,000	500,000	1,265,000
financed sales of other repossessed assets	422,000	117,000	562,000	514,000	155,000
write-off of goodwill due to sale of sbki
net increase in securities sold under agreements to repurchase			-524,000	138,000	-736,000			-1,039,000	1,121,000			-1,148,000			-872,000				1,447,000	-390,000
accretion of fair value purchase accounting adjustments												-1,396,000	-210,000	-194,000	-358,000	-425,000	-1,689,000	-761,000	-1,636,000	-768,000	-960,000	-888,000	-1,841,000	-1,375,000	-1,246,000
benefit from credit losses
(gain) loss on sale of securities available-for-sale
net incomees from sale and write-downs of other real estate owned and other repossessed assets
net (gain) income from sale/disposal of fixed assets
proceeds received from dissolved derivative instrument
net cash paid from business combinations
issuance of preferred stock of subsidiary - non-controlling interest, net of fees
transfer of securities from available-for-sale to held-to-maturity												0	0	0	162,378,000
change in goodwill due to acquisition																													51,697	15,728,483	10,778
increase in cash surrender value of bank owned life insurance						-526,000	-523,000	-519,000	-496,000	-480,000	-469,000	-469,000	-464,000	-463,000	-455,000	-474,000	-443,000	-427,000	-370,000	-181,000	-181,000	-183,000	-162,000	-153,000	-101,000
gain on sale of securities available-for-sale
net losses from sale and write-downs of other real estate owned								66,000
net (gain) from sale of loans and credit cards
purchases of bank owned life insurance																0	0	0	-40,000,000
proceeds from bank owned life insurance benefits																0
proceeds from sale of other real estate owned								787,000				54,000	380,000	0	108,000	662,000	509,000	1,564,000	98,000	439,000	469,000	286,000	120,000		295,000
proceeds received from sale of loans
net cash received from business combinations												0				0
net cash used by investing activities								-78,643,000	85,914,000	-45,677,000	-96,834,000
issuance of common stock, net of restricted shares withheld for taxes								-22,000	-35,000	0	165,000	127,000
net incomees from sale and write-downs of other real estate owned
net losses from sale and write downs of other real estate owned												16,000	7,000
net loss from sale of fixed assets											8,000
net cash paid/received during the period for income taxes											19,000	3,950,000	4,615,000
provision for loan and lease losses												788,000	974,000				1,149,000
gain from redemption and sale of securities available-for-sale																0				0	10,000
net gain from sale of fixed assets												17,000	-8,000	95,000	-348,000
net decrease in loans and leases												-153,617,000
repayment borrowings												-1,300,000	0	-25,000,000	-50,000,000	-701,000	0	-392,000	-4,000	-239,137,000	0
transfer from bank premises to other real estate owned
change in goodwill due to acquisitions and sale of a portfolio of loans												0				1,581,000
net gain from sale of loans
net (decrease) in securities sold under agreements to repurchase
benefit from loan and lease losses															1,006,000
net incomees from sale and write downs of other real estate owned															59,000
cash paid during the period for income taxes															15,000	1,939,000	503,000			2,876,000	2,830,000			3,130,000	1,005,000			130,756	13,000
cash received from income taxes refunds															50,000
net (gain) from sale of branch
proceeds from sales of securities available-for-sale																				0	4,884,000	4,760,000	2,115,000	0	0
proceeds from maturities and calls of securities available-for-sale																	32,276,000	2,178,000	9,097,000	3,833,000	30,350,000	12,200,000	3,250,000	0	5,250,000
proceeds from paydowns of securities available-for-sale																	5,561,000	8,845,000	7,144,000	7,940,000	9,478,000	5,328,000	3,816,000	4,092,000	3,612,000
purchases of securities available-for-sale																	-80,136,000	-9,423,000	-55,757,000	-12,253,000	-39,935,000	-38,581,000	-3,377,000		-5,020,000
proceeds received from branch sale
net losses from sale of other real estate owned																		19,000	151,000	45,000	61,000
net cash received from business combination																							46,132,000
change in goodwill due to acquisitions																		2,399,000	324,000	-795,000	784,000	230,000	8,302,000
provision for loan losses																			67,000	0	2,634,000					392,871	797,129	1,329,398	301,677	616,601	688,796	137,557		4,130,000								235,000	2,000	1,057,800	853,000	378,000
net increase in loans																			-103,308,000	22,111,000	5,117,000	-268,471,000	-52,721,000	-31,792,000	-30,101,000
net cash and cash equivalents received from business combination																				0	0
repurchase of common stock																			-1,207,000																								-15,250	-62,273	-50,250
loss on disposal of fixed assets																								21,000	0	7,039	6,961
net gains from sale of loans																				-1,331,000	-1,029,000	-939,000	-576,000	-374,000	-518,000
cash received from income tax refunds
initial recognition of operating lease right-of-use assets																				0	0	262,000	222,000	3,737,000	0
initial recognition of operating lease liabilities																				0	0	262,000	222,000	3,737,000	0
purchase of common stock																					0	-83,000	-1,992,000																0	-503,006	-12,249
benefit from loan losses																							3,200,000	685,000									15,000		1,015,000	3,390,000	1,633,898	5,725,000	170,000	317,000
net incomees from sale of other real estate owned																							14,000
proceeds from federal home loan bank advances and other borrowings																							100,000,000	8,405,000	25,000,000	70,081,526	50,094,474	14,677,197	33,660,000	62,040,028	65,000,000	18,000,000												11,000,000	11,000,000	1,000,000
repayment of federal home loan bank advances and other borrowings																								-8,426,000	-15,000,000	-63,226,910	-52,732,090	-38,715,324	-80,376,028	-24,000,000	-78,600,000	-22,062,293
net (gains) losses from sale of other real estate owned																								26,000
purchase of securities available-for-sale																											-1,053,710
purchase of other investments
net cash received in business combinations
purchase of premises and equipment
proceeds from sale of other assets owned
cash flow from financing activities:
net proceeds from subordinated debt																												0
cash and cash equivalents, beginning of year																											115,822,459	0	0	0	113,026,884	79,964,633
financed sales of other real estate owned
(gain) income from redemption and sale on securities available-for-sale
net cash received in business combination
change in unrealized (gains) losses on securities available-for-sale
cash flows from operating activities
losses from redemption and sale on securities available-for-sale
cash flows from investing activities
net cash and cash equivalents received in business combination																													0
cash flows from financing activities
net increase in cash and cash equivalents																										66,540,024	17,171,976	-14,281,749	-40,130,902				18,448,679	-30,238,699	16,866,112	38,981,444	-604,789	13,014,121			-5,185,678	7,468,306	-6,266,706
supplemental disclosures of cash flow information
noncash investing and financing activities
change in unrealized losses on securities available-for-sale
depreciation, amortization and accretion																											-560,383
income on bank owned life insurance																											-158,027
net gains from sale of loans and other assets																											-281,903	-292,625	-493,099	-321,583	-325,345	-221,925
net losses from sale of foreclosed assets																											25,558	208,916	62,565	225,194	146,540
loans originated for sale																											-16,804,564
proceeds from sale of loans originated for sale																											16,061,157
changes in other assets and liabilities:
other assets and liabilities																											3,040,906	-7,137,786	3,157,227	3,322,845	-1,453,236	2,061,243	458,737	-821,814	532,781	-644,793	-422,387	-2,945,769	-477,996	-7,238,441	-899,619	-705,218	612,515	-2,665,245	-1,658,374	-2,155,675
proceeds from sales, maturities, and paydowns of securities available-for-sale																											8,172,785	51,933,122	7,020,581
purchase of restricted investments																											-898,950		-2,462,950	0	-1,377,600	-200
loan originations and principal collections																											-61,010,912	-37,938,242	-6,509,316	-22,561,034	-50,633,564	-12,967,236	5,159,587	3,867,226	9,785,667	2,168,912	7,548,037	7,402,822	2,914,106	-5,100,818	-17,937,375	-22,118,686	-25,984,004	-22,022,147	-22,384,435	-10,058,675
purchase of bank premises and equipment																											-1,296,250	-1,961,397	-893,048	797,299	-1,789,344	-971,967	-6,392	24,438	-24,612	-52,598	-43,867	-48,261	-129,998	-137,172	-146,351	-253,243	-283,862	-479,587	-286,712	-172,013
proceeds from sale of foreclosed assets																											458,157	1,526,078	1,320,235	1,805,796	320,417	283,221
change in unrealized losses on securities available for sale																											-3,030,984		906,806	530,482	1,817,388	-912,736
financed sales of foreclosed assets																												1,344,055	0	0	257,416
depreciation, amortization, and accretion
gains from redemption and sale of securities available-for-sale
(purchase) redemption of restricted investments
purchase of bank owned life insurance
net cash and cash equivalents paid in business combinations
payment of dividends on preferred stock																																-212,000
redemption of preferred stock
cash and cash equivalents, end of year																																68,932,872
transfer from bank premises to foreclosed assets																												-2,578,204
stock option compensation expense																													83,240	210,757	33,471
loss (gains) from redemption and sale of securities
accretion on purchased credit impaired loans
cash flows from investing activities, net of acquisitions
purchase of securities																													-24,564,110	-6,000,000	-11,239,649
cash flows from financing activities, net of acquisitions
loss from redemption of securities
restricted stock compensation expense																															69,706
proceeds from security sales, maturities, and paydowns																															5,007,826	9,652,595
net decrease in cash and cash equivalents																															-16,316,795	-11,031,761
cash paid during the period for taxes																																		0					460,000	122,500	465,700	1,525,600	50,000	2,353,663	1,267,343	600,000
net gains from sale of securities
purchase of securities available for sale																																		-24,018,337	-39,859,220	-15,099,037	-19,696,080	-9,532,841	-15,553,466	-12,767,252
purchase (redemption) of restricted investments
cash received during the period from tax refunds
gains from sale of securities																																-83,263
net gains from sale of foreclosed assets																																-57,977
net gains on sales of loans and other assets																																	-34,027
changes in other operating assets and liabilities:
net change in loans held for sale																																	-654,500	530,500	359,000	935,400	210,550	-756,250	-124,850	327,750
proceeds from security transactions:
securities available for sale																																	8,014,091	22,669,006	14,324,849	2,047,303	24,833,368	3,082,889	11,733,138	5,489,515
securities held to maturity																																	3,581	6,673	5,590	12,933	7,737	6,866	9,716	6,497
purchase of federal home loan bank stock																																		0	-93,700	0	0	-41,700	-79,900	-107,600
proceeds from sale of bank premises and equipment																																	45,082
proceeds from sale of other real estate and other assets																																	62,310	1,219,477	2,476,687	849,866	1,424,787	273,658
net increase in federal funds purchased and securities sold under agreements to repurchase																																	3,464,172
net payments on federal home loan bank advances and other borrowings																																	-1,235,000
issuance of preferred stock																																	851,661	1,303,251
impairment of goodwill
gain on sales of securities
loss on sales of foreclosed assets, loans, and other assets
deferred income taxes																																		-1,195,580	138,882	430,707	169,414	500,857	187,002	2,994,108
decrease in federal funds purchased and securities sold under agreements to repurchase
proceeds from federal home loan bank advances
repayment of federal home loan bank advances
net (repayments) borrowings of other borrowings
payment of dividends																																				-209,889	-442,380	-442,380	-442,378	-445,882
net losses on sales of loans and other assets
net (payments on) proceeds from federal home loan bank advances and other borrowings
net income /																																			343,787	-1,699,532	-602,799	-2,911,503
adjustments to reconcile net income / (loss) to net cash
provided by operating activities:
net income on sales of loans and other assets																																			52,691
sale of bank premises and equipment																																			46,107
net increase in federal funds purchased and
securities sold under agreements to repurchase																																			3,634,399			-12,192,999
net proceeds from (payments on) federal home loan bank
advances and other borrowings																																			-50,000
adjustments to reconcile net income / (loss) to net cash from operating activities:
net (gains) / losses on sales of loans and other assets																																				218,075			-61,778	52,247
net increase / (decrease)in deposits
net increase / (decrease) in federal funds purchased and securities sold under agreements to repurchase
net proceeds from federal home loan bank advances and other borrowings																																				0	0	1,100,000	5,350,000	14,000,000	-11,000,000	13,750,000	-250,000
(decrease) in federal funds purchased and securities sold under agreements to repurchase																																								-3,186,985
net incomees on sales of loans and other assets																																						173,203
(decrease) in federal funds purchased and
cash and cash equivalenets, end of period																																						34,911,511		12,052,498	-5,185,678	7,468,306	11,369,250	26,928,808	11,735,057	17,587,411
supplemental disclosures of cash
flow information
(decrease) / increase in federal funds purchased and securities sold under agreements to repurchase
net (decrease) / increase in cash and cash equivalents
net (decrease) in cash and cash equivalents																																								-2,880,851
adjustments to reconcile net income
to net cash from operating actvities:
loss / (gain) on sale of loans held for sale and other assets																																									34,819
purchase of equity investment																																												-3,000,000	-3,000,000	-3,000,000
purchase of investment securities: afs																																									-2,497,641	-3,986,650	-650,000	-3,977,766	-3,990,346	-2,000,326
proceeds from security transactions: afs																																									2,193,583	3,669,050	230,911	1,602,824	1,256,780	896,972
proceeds from security transactions: htm																																									10,898	9,139	6,964	66,999	56,884	46,587
purchase of fhlb stock																																									0	-555,200	-24,300	-279,200	-262,500	-14,900
proceeds from sale of bank equipment																																												1,950,435	1,962,935
proceeds from sale of other real estate																																									0	441,723	579,468
dividends paid on common stock																																									-326,136	-326,136	-325,752	-387,974	-193,397
gain on sale of loans held for sale																																											50,493	-116,979	-77,015
the notes to consolidated financial statements are an integral part of these statements.
gains on sales of loans and other assets
acquisition of business
increase in federal funds purchased and securities sold under agreements to repurchase
net borrowings (repayments) under line of credit
non-cash investing and financing activities
loan extended in lieu of receiving cash for sale of assets
net loss on sale of other real estate and repossessed assets																																												-26,341	-32,715
net loss on sale of fixed assets																																												-200,549	-209,608
income from investment in unconsolidated subsidiary																																												-46,451	-15,882
compensation expense on stock options																																												110,944	73,964
proceeds from the sale of other real estate																																												806,906	806,906
proceeds from issuance of common stock																																												333,429	257,843
net increase cash and cash equivalents																																												12,338,309	-2,855,442	2,996,912
net cash provided (used in) by operating activities																																														-275,690

SmartFinancial, Inc(NASDAQ:SMBK)

SmartFinancial, Inc
(NASDAQ:SMBK)