Slide 1: Investor Call 1Q 2026
INVESTOR CALL 1Q 2026 April 20, 2026, 10:00am ET Webcast: www.smartbank.com (Investor Relations) Audio Only: 1-833-470-1428 Access Code: 156265 Miller Welborn Chairman of the Board Billy Carroll President & CEO Ron Gorczynski CFO 1
Slide 2: Disclosures
DISCLOSURES Forward-Looking Statements Non-GAAP Financial Measures This presentation may contain statements that are based on management’s current estimates or expectations of future events Statements included in this presentation include measures not recognized under U.S. generally accepted account
Slide 3: Quarterly Highlights: First Quarter 2026
QUARTERLY HIGHLIGHTS: FIRST QUARTER 2026 $0.81 $5.9 Diluted Earnings Per Share Book Value Per Share Diluted Operating Billion in Total $32.44 $32.88 EPS1 Assets $29.73 $0.81 $0.81 $0.81 $0.81 $26.85 $27.33 7% 14% $0.67 $0.67 $23.61 QoQ2 Annualized QoQ Annualized Tang. Book Value Organic Loan3 Per Sh
Slide 4: GAAP Key Measure Trends
GAAP KEY MEASURE TRENDS: Net Income: Diluted Earnings Per Share: Total Revenue: $53,817 $13,680 $ in Thousands $ in Thousands $0.81 $17, 000 $1 $60, 000 $1 $15, 000 $10,215 $40,291 $1 $0.61 $13, 000 $50, 000 $1 $11, 000 $40, 000 $1 $9, 000 $0 $7, 000 $30, 000 $0 $5, 000 $0 $20, 000 $3, 000 $0 $1, 00
Slide 5: Non-GAAP Key Measure Trends
NON-GAAP KEY MEASURE TRENDS1: Operating Earnings: Diluted Operating EPS: Operating PPNR Earnings: $20,901 $ in Thousands $ in Thousands $ in Thousands $18, 000 $0.81 $13,679 $1 $23, 000 $16, 000 $1 $21, 000 $10,275 $14, 000 $0.61 $19, 000 $1 $14,446 $12, 000 $17, 000 $1 $10, 000 $15, 000 $1 $8, 000
Slide 6: SmartFinancial: Expanding Southeast Franchise
SMARTFINANCIAL: EXPANDING SOUTHEAST FRANCHISE $5.9 Nashville Knoxville Billion in Total Assets Chattanooga Huntsville $4.5 Billion in Total Birmingham Loans Tuscaloosa Auburn $5.2 Montgomery Columbus Billion in Total Deposits Dothan Branch Offices Mobile Current Loan Production Offices 42 Pensacola
Slide 7: SmartBank Journey: Looking Ahead
SMARTBANK JOURNEY: LOOKING AHEAD Strategic Focus: Leverage Existing Infrastructure Investments to Drive Profitability and Optimize Efficiency $7 $ in Billions, unless otherwise indicated $6 $5.9 $5.9 $5.3 $4.8 $4.6 $4.6 $5 $4 $3.3 $3 $2.4 $2.3 $2 $1.7 $1.0 $1.1 $1 $- 2015 2016 2017 2018 2019 2020 20
Slide 8: Market Area: Building Density in Attractive Southeast Markets
MARKET AREA: BUILDING DENSITY IN ATTRACTIVE SOUTHEAST MARKETS US Population Migration: Strong Migration into Great Markets Profile by Market Area: Abundant Organic Opportunity 1,2,3 Projected Population CAGR through 2030 Southeast Population Growth Expected to Continue Nashville Knoxville Huntsville
Slide 9: Loan Portfolio: Solid Markets Providing Opportunity
LOAN PORTFOLIO: SOLID MARKETS PROVIDING OPPORTUNITY $ in Millions, unless otherwise indicated Total Loans Loan Composition CAGR of 13% Since 2021 History of Consistent Organic Growth 6. 40% $4,518 $4,518 $4,364 $4,364 $4,222 $4,124 $4, 500 $3,992 19% $3,906 6. 20% $4, 000 19% 19% 19% $3,444 20% $3,2
Slide 10: Loan Concentration: Well Balanced Exposure
LOAN CONCENTRATION: WELL BALANCED EXPOSURE Non-Owner Occupied CRE Construction & Development Exposure By Segment Exposure By Type1 Highly Diversified with Concentration Risk Closely Monitored Seasoned Client Base Resi/Comm Retail Land Space Resi/Comm 16% 11% Land Dev. 12% Hotel & Hospitality Office
Slide 11: Asset Quality: Strong Underwriting Pays Dividends
ASSET QUALITY: STRONG UNDERWRITING PAYS DIVIDENDS $ in Thousands, unless otherwise indicated $20,000 1.50% 350% 250% $18,000 Nonperforming Assets 1.30% Commercial Real Estate Concentration $15,055 330% $16,000 1.10% $12,543 $12,690 304% $14,000 301% 310% 200% 0.90% $10,365 $10,462 $12,000 290% $10,0
Slide 12: Deposit Portfolio: Defending Deposit Market Share
DEPOSIT PORTFOLIO: DEFENDING DEPOSIT MARKET SHARE $ in Millions, unless otherwise indicated Total Deposits Deposit Composition Loans to Deposits Ratio of 87% Focused on Core Relationship Growth $5,153 $5,196 $5,153 $5,196 $5,051 $4,872 3. 40% $5, 000 $4,809 $4,686 16% 17% 19% $4,268 19% 20% $4,022 $
Slide 13: Securities Detail: Strong Portfolio Yield and Liquidity
4.50% SECURITIES DETAIL: STRONG PORTFOLIO YIELD AND LIQUIDITY $ in Millions, unless otherwise indicated Portfolio Summary Weighted Average Portfolio Yield $688 Million Book Value 5.8 Year Average Life 4.00% 3.81% 3.78% 3.69% Book Yield 4.1% Effective Duration ($30) Million Unrealized Loss 84% / 16%
Slide 14: Repricing Schedule: Yield Enhancement Underway
REPRICING SCHEDULE: YIELD ENHANCEMENT UNDERWAY Quarterly FYE 2028 & ($ in millions) 2Q26 3Q26 4Q26 2027 Beyond Loan Repricing Schedule: Fixed Rate Loans $ 78 $ 91 $ 85 $ 341 $ 1,359 Weighted Average Yield 5.12% 5.01% 4.59% 5.09% 5.72% Adjustable Rate Loans $ 16 $ 33 $ 32 $ 102 $ 488 Weighted Average
Slide 15: Liquidity Overview: Prudently Managing Liquidity
LIQUIDITY OVERVIEW: PRUDENTLY MANAGING LIQUIDITY $ in Millions, unless otherwise indicated Robust Liquidity on Hand Other Liquidity Sources Access to a Variety of Funding Total Amount Net $1.7 Billion in Untapped Liquidity Sources Available Current On-Balance Sheet: Used Availability Cash & Cash Equ
Slide 16: Liquidity Management: Margin Inflection Continues
LIQUIDITY MANAGEMENT: MARGIN INFLECTION CONTINUES $ in Millions, unless otherwise indicated $ in Thousands, unless otherwise indicated $900 Cash and Securities 40.0% Margin / Operating Revenue2 $800 35.0% $700 $662 $673 3.8 0% $53,313 $53,816 $634 30.0% $625 $627 $53, 000 $50,827 $557 $600 25.0% 3.7
Slide 17: Interest Rate Sensitivity
INTEREST R ATE SENSITIVITY $ in Millions, unless otherwise indicated $ in Thousands, unless otherwise indicated Fixed vs. Variable Rate Loans Static Shock / Rate Ramp Analysis1 $2.0 Billion Fixed Rate Loans Interest Income % Change $2.6 Billion Variable Rate Loans $1,391 , 0.7% • $1.9 Billion Short-
Slide 18: Revenue Diversification: Line of Business & Fee Income Expansion
REVENUE DIVERSIFICATION: LINE OF BUSINESS & FEE INCOME EXPANSION $ in Thousands, unless otherwise indicated Differentiated Revenue Streams Operating Noninterest Income1 Building a Family of Diversified Revenue Generators Focused on Recurring Fee Income $8,902 Wealth & Private Banking $8,597 $8,397 $
Slide 19: Operating Expense: Focus on Expense Containment
OPERATING EXPENSE: FOCUS ON EXPENSE CONTAINMENT $ in Thousands, unless otherwise indicated Operating Efficiency Ratio1 Operating Noninterest Expense1 $32,569 $32,559 $32,455 $32,915 $32,296 68% 66% 64% 60% 61% 1Q25 2Q25 3Q25 4Q25 1Q26 1Q25 2Q25 3Q25 4Q25 1Q26 1 Operating Efficiency Ratio Salaries &
Slide 20: Capital: Well Capitalized – Building Book Value
CAPITAL: WELL CAPITALIZED – BUILDING BOOK VALUE TCE / TA1 Leverage Ratio Building Shareholder Value Tangible Book Value Per Share (TBVPS)1 $31. 00 8.3% 8.2% 8.3% 8.4% 8.0% 8.2% 7.8% 7.9% 7.6% 7.7% $29. 00 $28.05 5% $27.39 $27.33 Well $26.85 Capitalized $27. 00 $25. 00 $24.25 $23. 00 $22.85 $22.29 1Q
Slide 21: Why SmartBank: Investment Highlights
WHY SMARTBANK: INVESTMENT HIGHLIGHTS Engaged Management Team $ Valuable Deposit Base Solid Credit Quality and Underwriting Stable Markets Experiencing Population Expansion Growing Business Lines with Revenue Diversification Franchise Scarcity Value – Building Southeast Density History of Defending B
Slide 22: Appendix
Wy SmartFinancial APPENDIX
Slide 23: Income Statement: Detailed First Quarter Results
INCOME STATEMENT: DETAILED FIRST QUARTER RESULTS 1Q26 vs. 4Q25 1Q25 ($ in thousands, except per share data) 1Q26 4Q25 1Q25 % Chg. % Chg. Net Interest Income $ 45,876 $ 45,094 $ 38,238 2% 20% Provision for Credit Losses 4,139 4,132 979 Noninterest Income 7,941 8,219 8,597 (3%) (8%) Noninterest Expens
Slide 24: Non-GAAP Reconciliation
NON-GAAP RECONCILIATION $ in Thousands, unless otherwise indicated 1Q26 4Q25 3Q25 2Q25 1Q25 4Q24 3Q24 2Q24 Operating Earnings Net Income (GAAP) $ 13,680 $ 13,703 $ 13,686 $ 11,705 $ 11,254 $ 9,640 $ 9,140 $ 8,003 Noninterest Income: Securities (Gains) Losses (1) - 3,715 4 - (64) - - Gain on Sale of
Slide 25: Non-GAAP Reconciliation
NON-GAAP RECONCILIATION $ in Thousands, unless otherwise indicated 1Q24 4Q23 3Q23 2Q23 1Q23 4Q22 3Q22 2Q22 Operating Earnings Net Income (GAAP) $ 9,358 $ 6,190 $ 2,067 $ 8,836 $ 11,500 $ 13,004 $ 11,543 $ 10,215 Noninterest Income: Securities (Gains) Losses - - 6,801 - - (144) - - Gain on Sale of Br
Slide 26: Non-GAAP Reconciliation
NON-GAAP RECONCILIATION $ in Thousands, unless otherwise indicated 1Q26 4Q25 3Q25 2Q25 1Q25 4Q24 3Q24 2Q24 Tangible Common Equity: Shareholders' Equity (GAAP) $ 562,161 $ 552,492 $ 538,482 $ 519,127 $ 505,941 $ 491,461 $ 489,023 $ 472,465 Less Goodwill And Other Intangible Assets 94,871 95,328 95,80
Slide 27: Non-GAAP Reconciliation
NON-GAAP RECONCILIATION $ in Thousands, unless otherwise indicated 1Q24 4Q23 3Q23 2Q23 1Q23 4Q22 3Q22 2Q22 Tangible Common Equity: Shareholders' Equity (GAAP) $ 466,796 $ 459,886 $ 446,652 $ 444,847 $ 443,399 $ 432,452 $ 414,711 $ 420,427 Less Goodwill And Other Intangible Assets 106,537 107,148 107
Slide 28: Non-GAAP Reconciliation
NON-GAAP RECONCILIATION $ in Thousands, unless otherwise indicated 1Q26 4Q25 3Q25 2Q25 1Q25 4Q24 3Q24 2Q24 Tangible Common Equity (Excluding AOCI): Shareholders' Equity (GAAP) $ 562,161 $ 552,492 $ 538,482 $ 519,127 $ 505,941 $ 491,461 $ 489,023 $ 472,465 Less Goodwill And Other Intangible Assets 94
Slide 29: Non-GAAP Reconciliation
NON-GAAP RECONCILIATION $ in Thousands, unless otherwise indicated 1Q26 2025Y 2024Y 2023Y 2022Y 2021Y Tangible Common Equity (Excluding AOCI): Shareholders' Equity (GAAP) $ 562,161 $ 552,492 $ 491,461 $ 459,886 $ 432,452 $ 429,430 Less Goodwill And Other Intangible Assets 94,871 95,328 104,723 107,1
Slide 30: Contact
CONTACT Miller Welborn Billy Carroll Ron Gorczynski Chairman President & CEO Chief Financial Officer 423.385.3067 865.868.0613 865.437.5724 Miller.Welborn@smartbank.com Billy.Carroll@smartbank.com Ron.Gorczynski@smartbank.com 5401 Kingston Pike, Suite 600 Knoxville, TN 37919 30