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SMBK SmartFinancial

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
IRS number
621173944

SMBK stock data

(
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Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

16 Mar 21
12 Apr 21
31 Dec 21
Quarter (USD)
Dec 20 Sep 20 Jun 20 Mar 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 481.72M 481.72M 481.72M 481.72M 481.72M 481.72M
Cash burn (monthly) 20.03M (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) 67.99M n/a n/a n/a n/a n/a
Cash remaining 413.73M n/a n/a n/a n/a n/a
Runway (months of cash) 20.7 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
28 Jan 21 Miller Ted Charles Common Stock Grant Aquire A No No 0 500 0 128,958
28 Jan 21 Berke Monique Common Stock Grant Aquire A No No 0 500 0 10,512
28 Jan 21 Gorczynski Ronald J Common Stock Grant Aquire A No No 0 2,500 0 9,000
28 Jan 21 Welborn Wesley Miller Common Stock Grant Aquire A No No 0 4,400 0 68,623
28 Jan 21 Ottis H Phillips Common Stock Grant Aquire A No No 0 500 0 227,383

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

41.6% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 80 73 +9.6%
Opened positions 9 8 +12.5%
Closed positions 2 14 -85.7%
Increased positions 34 23 +47.8%
Reduced positions 21 27 -22.2%
13F shares
Current Prev Q Change
Total value 181.48M 127.07M +42.8%
Total shares 6.34M 6.14M +3.3%
Total puts 13.7K 13.7K
Total calls 0 0
Total put/call ratio Infinity Infinity NaN%
Largest owners
Shares Value Change
BLK Blackrock 864.05K $15.67M +11.2%
Vanguard 709.56K $12.87M +0.6%
Banc Funds 551.43K $10M 0.0%
Private Capital Management 474.69K $8.61M +13.7%
Dimensional Fund Advisors 384.85K $6.98M +1.3%
EJF Capital 275K $4.99M -3.5%
Renaissance Technologies 255.67K $4.64M +6.1%
STT State Street 238.5K $4.33M +1.2%
Forest Hill Capital 221.48K $4.02M +1.0%
Geode Capital Management 215.36K $3.91M +1.3%
Largest transactions
Shares Bought/sold Change
Penn Capital Management 45.98K -101.32K -68.8%
BLK Blackrock 864.05K +86.93K +11.2%
Wellington Management 75.9K +75.9K NEW
Private Capital Management 474.69K +57.34K +13.7%
JPM JPMorgan Chase & Co. 42.8K +28.77K +205.1%
WINTON 11.51K -24.42K -68.0%
Belvedere Trading 18.98K -21.69K -53.3%
Millennium Management 0 -19.02K EXIT
Martingale Asset Management L P 24.63K -18.3K -42.6%
Warren Averett Asset Management 17K +17K NEW

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 losses and fair value adjustments with respect to acquired loans is not sufficient to cover actual loan 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 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 through organic loan 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.
  • Interest rates on our outstanding financial instruments might be subject to change based on regulatory developments, which could adversely affect our revenue, expenses, and the value of those financial instruments.
  • 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.
  • We may issue shares of preferred stock in the future, which could make it difficult for another company to acquire us or could otherwise adversely affect holders of our common stock, which could depress the price of our common stock.
Content analysis
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Positive
Negative
Uncertain
Constraining
Legalese
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Readability
H.S. freshman Avg
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