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SmartFinancial (SMBK)

SmartFinancial, Inc., based in Knoxville, Tennessee, is the publicly-traded bank holding company for SmartBank. SmartBank is a full-service commercial bank founded in 2007 with 35 branches spanning East and Middle Tennessee, Alabama and the Florida Panhandle. Recruiting the best people, delivering exceptional client service, strategic branching, and a disciplined approach to lending have all contributed to the company's success.

Company profile

Ticker
SMBK
Exchange
CEO
William Young Carroll
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
CORNERSTONE BANCSHARES INC, EAST RIDGE BANCSHARES INC
SEC CIK
Subsidiaries
Smart Investments Management, Inc. • Smartholdings I, LLC • Smartholdings II, LLC • Rains Agency, Inc. • Fountain Equipment Finance, LLC ...
IRS number
621173944

SMBK stock data

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

10 May 22
17 May 22
31 Dec 22
Quarter (USD) Mar 22 Dec 21 Sep 21 Jun 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 763.97M 763.97M 763.97M 763.97M 763.97M 763.97M
Cash burn (monthly) 93.7M (no burn) (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) 145.65M n/a n/a n/a n/a n/a
Cash remaining 618.32M n/a n/a n/a n/a n/a
Runway (months of cash) 6.6 n/a n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
11 May 22 Berke Monique Common Stock Option exercise Acquire M No No 15.05 1,025 15.43K 12,743
11 May 22 Berke Monique Stock Options Common Stock Option exercise Dispose M No No 15.05 1,025 15.43K 0
15 Mar 22 William Young Jr. Carroll Common Stock Grant Acquire A No No 0 1,934 0 102,534
24 Feb 22 Cathy G Ackermann Common Stock Grant Acquire A No No 0 1,054 0 2,410
14 Feb 22 Gary Wayne Petty Jr Common Stock Option exercise Acquire M No No 6.6 3,750 24.75K 13,302
14 Feb 22 Gary Wayne Petty Jr Stock Option Common Stock Option exercise Dispose M No No 6.6 3,750 24.75K 0
43.0% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 96 92 +4.3%
Opened positions 10 10
Closed positions 6 6
Increased positions 34 29 +17.2%
Reduced positions 29 31 -6.5%
13F shares Current Prev Q Change
Total value 384.11M 256.02M +50.0%
Total shares 7.27M 6.9M +5.3%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners Shares Value Change
BLK Blackrock 1.18M $32.21M +13.5%
Vanguard 690.41K $18.89M +1.4%
Banc Funds 679.19K $18.58M +11.3%
Private Capital Management 570.11K $15.6M +8.3%
Dimensional Fund Advisors 427.02K $11.68M +2.3%
Forest Hill Capital 254.15K $6.95M +0.8%
Renaissance Technologies 244.27K $6.68M +1.3%
Geode Capital Management 242.47K $6.63M +0.3%
STT State Street 228.15K $6.24M -1.4%
Wellington Management 170.66K $4.67M -27.2%
Largest transactions Shares Bought/sold Change
BLK Blackrock 1.18M +139.99K +13.5%
Basswood Capital Management, L.L.C. 69.78K +69.78K NEW
Banc Funds 679.19K +68.78K +11.3%
Wellington Management 170.66K -63.72K -27.2%
Private Capital Management 570.11K +43.8K +8.3%
LBMC Investment Advisors 44.3K +28.37K +178.1%
Salzhauer Michael 138.61K +27.9K +25.2%
Moors & Cabot 0 -25K EXIT
Tennessee Valley Asset Management Partners 19.9K +19.9K NEW
WINTON 0 -16.28K EXIT

Financial report summary

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Risks
  • Our net interest income could be negatively affected by interest rate adjustments by the Federal Reserve Board.
  • We are dependent on our information technology and telecommunications systems and third-party servicers, and systems failures, interruptions or breaches of security could have an adverse effect on our financial condition and results of operations.
  • We are subject to extensive government regulation that could limit or restrict our activities, which in turn may adversely impact our ability to increase our assets and earnings.
  • The Federal Reserve may require us to commit capital resources to support the Bank.
  • Federal and state regulators periodically examine our business, and we may be required to remediate adverse examination findings.
  • If our allowance for loan and lease losses and fair value adjustments with respect to acquired loans and leases is not sufficient to cover actual loan and lease losses, our earnings will be adversely affected.
  • Our success depends significantly on economic conditions in our market areas.
  • Competition from financial institutions and other financial service providers may adversely affect our profitability.
  • Our organic loan and lease growth may be limited by regulatory constraints.
  • Changes in accounting standards, including the implementation of Current Expected Credit Loss methodology, could materially affect how we report our financial results.
  • To the extent that we are unable to identify and consummate attractive acquisitions, or increase loans and leases through organic loan and lease growth, we may be unable to successfully implement our growth strategy, which could materially and adversely affect us.
  • Our recent acquisition and future expansion may result in additional risks.
  • We may face risks with respect to future acquisitions.
  • Our concentration in loans secured by real estate, particularly commercial real estate and construction and development, is subject to risks that could adversely affect our results of operations and financial condition.
  • Our largest loan relationships currently make up a significant percentage of our total loan portfolio.
  • Declines in the businesses or industries of our customers could cause increased credit losses and decreased loan balances, which could adversely affect our financial results.
  • Real estate market volatility and future changes in our disposition strategies could result in net proceeds that differ significantly from our other real estate owned fair value appraisals.
  • Our use of appraisals in deciding whether to make a loan secured by real property does not ensure the value of the real property collateral.
  • Liquidity risk could impair our ability to fund our operations and jeopardize our financial condition.
  • We could recognize losses on securities held in our securities portfolio, particularly if interest rates increase or economic and market conditions deteriorate.
  • We face additional risks due to our increase in mortgage banking activities that have and could negatively impact our net income and profitability.
  • Any expansion into new lines of business might not be successful.
  • Any deficiencies in our financial reporting or internal controls could materially and adversely affect us, including resulting in material misstatements in our financial statements, and could materially and adversely affect the market price of our common stock.
  • Inability to retain senior management and key employees or to attract new experienced financial services professionals could impair our relationship with our customers, reduce growth and adversely affect our business.
  • Employee misconduct could expose us to significant legal liability and reputational harm.
  • We may be adversely affected by the soundness of other financial institutions.
  • Our ability to declare and pay dividends is limited.
  • Even though our common stock is currently traded on the Nasdaq Capital Market, it has less liquidity than many other stocks quoted on a national securities exchange.
  • We may issue additional shares of stock or equity derivative securities, including awards to current and future executive officers, directors and employees, which could result in the dilution of shareholders’ investment.
  • The market price of our common stock may be subject to substantial fluctuations, which may make it difficult for you to sell your shares at the volume, prices and time desired.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
8th grade Avg
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