Smartfinancial, Inc. · NYSE:SMBK
Smartfinancial — Q3 2026 Earnings Presentation
29 slides from Smartfinancial's earnings presentation, Oct 19, 2026
Slide 1: Investor Call 3Q 2026
1 INVESTOR CALL 3Q 2026 October 20, 2026, 10:00am ET Webcast: www.smartbank.com (Investor Relations) Audio Only: 1 -833 -461 -5787 Access Code: 955 254 100 Miller Welborn Chairman of the Board Billy Carroll President & CEO Ron Gorczynski CFO
Slide 2: Forward-Looking Statements
(i) Operating earnings (ii) Operating revenue (iii) Operating noninterest income (iv) Operating noninterest expense (v) Operating pre-provision net revenue (PPNR) earnings (vi) Tangible common equity (vii) Tangible common equity (excluding Accumulated Other Comprehensive income (AOCI)) (viii) Averag
Slide 3: Quarterly Highlights: Third Quarter 2026
$0.81 $0.96 $1.10 $0.86 $0.96 $1.10 3Q25 2Q26 3Q26 GAAP EPS Operating Diluted EPS $31.62 $33.74 $34.00 $26.00 $28.22 $28.50 3Q25 2Q26 3Q26 BV Per Common Share TBV Per Common Share 0.96% 1.10% 1.20% 1.02% 1.10% 1.20% 3Q25 2Q26 3Q26 GAAP ROAA Operating ROAA 12.8% 13.7% 15.1% 13.5% 13.7% 15.1% 3Q25 2Q2
Slide 4: GAAP Key Measure Trends
$13,004 $18,627 $- $5, 000 $10, 000 $15, 000 $20, 000 $0.77 $1.10 $0 $0 $0 $1 $1 $1 $1 $44,737 $57,533 $10, 000 $20, 000 $30, 000 $40, 000 $50, 000 $60, 000 $3,254 $4,857 $1, 000 $1, 500 $2, 000 $2, 500 $3, 000 $3, 500 $4, 000 $4, 500 $5, 000 $5, 500 $4,077 $5,576 $2, 000 $2, 500 $3, 000 $3, 500 $4,
Slide 5: Non-GAAP Key Measure Trends
$12,864 $18,627 $- $5, 000 $10, 000 $15, 000 $20, 000 $0.76 $1.10 $0 $0 $1 $1 $1 $1 $17,132 $21,177 $5, 000 $10, 000 $15, 000 $20, 000 $25, 000 1.10%1.20% $- $0 $0 $0 $0 $0 $0 $0 16.47% 15.07% $- $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $19.09 $28.50 $16 $18 $20 $22 $24 $26 $28 $30 5 NON-GAAP KEY MEASURE TREND
Slide 6: SmartFinancial: Expanding Southeast Franchise
6 SMARTFINANCIAL: EXPANDING SOUTHEAST FRANCHISE $6.3 Billion in Total Assets $4.9 Billion in Total Loans We are building a culture where Associates thrive and are empowered to be leaders. The core values that we have established as a company help us operate in unison and have become a critical part
Slide 7: SmartBank Journey: Looking Ahead
$1.0 $1.1 $1.7 $2.3 $2.4 $3.3 $4.6 $4.6 $4.8 $5.3 $5.9 $6.3 $- $1 $2 $3 $4 $5 $6 $7 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 7 SMARTBANK JOURNEY: LOOKING AHEAD Validation: Scaling: Leveraging: • Focused on validating platform and substantiating market need • Completed Cornerstone
Slide 8: Market Area: Building Density in Attractive Southeast Markets
MARKET AREA: BUILDING DENSITY IN ATTRACTIVE SOUTHEAST MARKETS 8 ► Production Team: 44 ► Loans: 57% ► Deposits: 59% ► ’21-’26 Growth: 10% Tennessee Source: S&P Market Intelligence; U.S. Census; https://www.cnbc.com/americas-top-states-for-business/ 1) Production team includes relationship managers, m
Slide 9: Loan Portfolio: Solid Markets Providing Opportunity
24% 23% 23% 23% 23% 27% 27% 28% 28% 27% 19% 19% 18% 18% 19% 9% 10% 11% 11% 12% 19% 19% 19% 19% $4,222 19% $4,364 $4,518 $4,683 $4,857 3Q25 4Q25 1Q26 2Q26 3Q26 CRE, OO CRE, NOO C&I C&D Consumer RE Leases & Other $2,693 $3,254 $3,444 $3,906 $4,364 $4,518 $4,683 $4,857 5.43% 5.86% 5.98% 5.93% 5.95% 5.9
Slide 10: Loan Concentration: Well Balanced Exposure
1-4 Family (NOO) 16% Resi/Comm Land Dev. 13% Resi/Comm Land 16% CRE (OO) 20% CRE (NOO) 19% Multifamily 18% Hotel & Hospitality 32% Retail Space 12% Office Space 15% Misc. 14% 10 LOAN CONCENTRATION: WELL BALANCED EXPOSURE Non-Owner Occupied CRE Exposure By Segment Highly Diversified with Seasoned Cli
Slide 11: Credit Quality
$12,543 $12,690 $15,055 $14,228 $15,674 0.22% 0.22% 0.25% 0.23% 0.25% - 0.10% 0.10% 0.30% 0.50% 0.70% 0.90% 1.10% 1.30% 1.50% $- $2, 000 $4, 000 $6, 000 $8, 000 $10, 000 $12, 000 $14, 000 $16, 000 $18, 000 $20, 000 $22, 000 $24, 000 3Q25 4Q25 1Q26 2Q26 3Q26 Nonperforming Loans and Leases OREO & Othe
Slide 12: Deposit Portfolio: Defending Deposit Market Share
18% 21% 18% 17% 17% 18% 18% 18% 19% 19% 44% 44% 47% 46% 47% 19% 17% 16% 18% 18% $5,051 $5,153 $5,196 $5,386 $5,576 3Q25 4Q25 1Q26 2Q26 3Q26 Noninterest Demand Interest-Bearing Demand Money Market and Savings Time Deposits $4,022 $4,077 $4,268 $4,686 $5,153 $5,196 $5,386 $5,576 2.00% 2.51% 2.36% 2.12
Slide 13: Securities Detail: Strong Portfolio Yield and Liquidity
$69 $219 $17 $101 $38 $131 $36 $86 $22 $- $50 $100 $150 $200 $250 $300 $350 UST/Agency MBS Fixed ARM CMO Fixed CMO Float Agen CMBS Small Bus Municipal Corporate 3.44% 3.81% 3.78% 3.83% 3.85% 2.50% 3.00% 3.50% 4.00% 4.50% 3Q25 4Q25 1Q26 2Q26 3Q26 Sec. Yield (AFS/HTM) 13 SECURITIES DETAIL: STRONG PORT
Slide 14: Repricing Schedule: Yield Enhancement Underway
14 REPRICING SCHEDULE: YIELD ENHANCEMENT UNDERWAY $453 Million in Fixed Rate Loans Yielding 4.98% Maturing by 2027 Year End $131 Million in Adjustable-Rate Loans Yielding 5.11% Maturing or Repricing by 2027 Year End FYE 2029 & ($ in millions) 4Q26 1Q27 2Q27 3Q27 4Q27 2028 Beyond Loan Repricing Sched
Slide 15: Liquidity Overview: Prudently Managing Liquidity
105% 100% Peer Average SMBK 91% 87% Peer Average SMBK Total Amount Net Available Used Availability Current On-Balance Sheet: Cash & Cash Equiv. $365 $0 $365 Securities Eligible for Liquidity 676 340 336 Available Sources of Liquidity: Fed Funds 121 0 121 FHLB 1,065 380 685 FRB 354 0 354 HC LoC 35 0
Slide 16: Liquidity Management: Margin Inflection Continues
$42,430 $45,094 $45,876 $48,064 $49,402 $8,397 $8,219 $7,940 $7,832 $8,131 $50,827 $53,313 $53,816 $55,896 $57,533 3.25% 3.38% 3.48% 3.52% 3.45% $18, 000 $23, 000 $28, 000 $33, 000 $38, 000 $43, 000 $48, 000 $53, 000 $58, 000 3.00% 3.20% 3.40% 3.60% 3.80% 4.00% 3Q25 4Q25 1Q26 2Q26 3Q26 Net Interest
Slide 17: Interest Rate Sensitivity
$443 , 0.2% $(1,673), -0.8% $264 , 0.1% Interest Income % Change Shock -200bps Shock -100bps Shock +100bps $(2,701), -1.3% $(2,174), -1.1% $(1,419), -0.7% Interest Income % Change Ramp -200bps Ramp -100bps Ramp +100bps 39% 14% 47% Fixed Rate LT Variable ST Variable 17 INTEREST RATE SENSITIVITY Fixed
Slide 18: Revenue Diversification: Line of Business & Fee Income Expansion
$8,397 $8,219 $7,940 $7,832 $8,131 3Q25 4Q25 1Q26 2Q26 3Q26 Other Noninterest Income Mortgage Banking Income Investment Services Income Interchange Fees Service Charges on Deposit Accounts Insurance Commissions 18 REVENUE DIVERSIFICATION: LINE OF BUSINESS & FEE INCOME EXPANSION Operating Noninterest
Slide 19: Operating Expense: Focus on Expense Containment
64% 60% 61% 60% 63% 3Q25 4Q25 1Q26 2Q26 3Q26 Operating Efficiency Ratio $32,559 $32,455 $32,915 $33,955 $36,356 3Q25 4Q25 1Q26 2Q26 3Q26 Salaries & Benefits Occupancy & Equipment Data Processing & Technology Professional Services Amortization of Intangibles Other Noninterest Expense 19 1) Non-GAAP f
Slide 20: Capital: Well Capitalized – Building Book Value
7.8% 7.9% 8.0% 8.0% 7.8% 3Q25 4Q25 1Q26 2Q26 3Q26 9.9% 9.8% 9.8% 9.8% 9.8% 3Q25 4Q25 1Q26 2Q26 3Q26 8.2% 8.3% 8.4% 8.5% 8.5% 3Q25 4Q25 1Q26 2Q26 3Q26 13.3% 12.7% 12.7% 12.6% 12.6% 3Q25 4Q25 1Q26 2Q26 3Q26 $19.26 $19.09 $20.76 $22.85 $26.85 $28.50 $19.17 $21.18 $22.29 $24.25 $27.39 $30.03 $15. 00 $17
Slide 21: Why SmartBank: Investment Highlights
WHY SMARTBANK: INVESTMENT HIGHLIGHTS 21 Franchise Scarcity Value – Building Southeast Density Engaged Management Team Stable Markets Experiencing Population Expansion Valuable Deposit Base Growing Business Lines with Revenue Diversification Solid Credit Quality and Underwriting History of Defending
Slide 22: Appendix
ly SmartFinancial APPENDIX
Slide 23: Income Statement and Non-GAAP Performance Metrics
2Q26 3Q25 ($ in thousands, except per share data) 3Q26 2Q26 3Q25 % Chg. % Chg. Net Interest Income $ 49,402 $ 48,064 $ 42,430 3% 16% Provision for Credit Losses 687 1,463 227 Noninterest Income 8,131 7,886 8,637 3% (6%) Noninterest Expense 36,356 33,955 33,869 7% 7% Income Tax Expense 1,863 4,210 3,
Slide 24: Operating Earnings Reconciliation
3Q26 2Q26 1Q26 4Q25 3Q25 2Q25 1Q25 4Q24 Operating Earnings Net Income (GAAP) $ 18,627 $ 16,322 $ 13,680 $ 13,703 $ 13,686 $ 11,705 $ 11,254 $ 9,640 Noninterest Income: Securities (Gains) Losses - (54) (1) - 3,715 4 - (64) Gain on Sale of Branch Building - - - - - - - - Gain on Sale of SBKI - - - - (
Slide 25: Operating Earnings Reconciliation
3Q24 2Q24 1Q24 4Q23 3Q23 2Q23 1Q23 4Q22 Operating Earnings Net Income (GAAP) $ 9,140 $ 8,003 $ 9,358 $ 6,190 $ 2,067 $ 8,836 $ 11,500 $ 13,004 Noninterest Income: Securities (Gains) Losses - - - - 6,801 - - (144) Gain on Sale of Branch Building - (283) (1,346) - - - - - Gain on Sale of SBKI - - - -
Slide 26: Non-GAAP Reconciliation
NON-GAAP RECONCILIATION 1. Tangible book value per share (Non-GAAP) is computed by dividing total shareholder’s equity, less goodwill and other intangible assets, by common shares outstanding. 26 Note: Totals may not add due to rounding $ in Thousands, unless otherwise indicated 3Q24 2Q24 1Q24 4Q23
Slide 27: Non-GAAP Reconciliation
NON-GAAP RECONCILIATION 1. Tangible book value per share (Non-GAAP) is computed by dividing total shareholder’s equity, less goodwill and other intangible assets, by common shares outstanding. 27 Note: Totals may not add due to rounding $ in Thousands, unless otherwise indicated 3Q24 2Q24 1Q24 4Q23
Slide 28: Non-GAAP Reconciliation
NON-GAAP RECONCILIATION 1. Tangible book value per share (Non-GAAP) is computed by dividing total shareholder’s equity, less goodwill and other intangible assets, by common shares outstanding. 28 Note: Totals may not add due to rounding $ in Thousands, unless otherwise indicated 3Q26 2025Y 2024Y 202
Slide 29: Contact
CONTACT 29 Billy Carroll President & CEO 865.868.0613 Billy.Carroll@smartbank.com Miller Welborn Chairman 423.385.3067 Miller.Welborn@smartbank.com 5401 Kingston Pike, Suite 600 Knoxville, TN 37919 Ron Gorczynski Chief Financial Officer 865.437.5724 Ron.Gorczynski@smartbank.com