SMBK

EX-99.1

2 smbk-ex99d1.htm

EX-99.1

Exhibit 99.1

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3Q 2026

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SmartFinancial Announces Results for the Third Quarter 2026

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KNOXVILLE, TN – October 19, 2026 – SmartFinancial, Inc. ("SmartFinancial" or the "Company"; NYSE: SMBK), today announced net income of $18.6 million, or $1.10 per diluted common share, for the third quarter of 2026, compared to net income of $13.7 million, or $0.81 per diluted common share, for the third quarter of 2025, and compared to prior quarter net income of $16.3 million, or $0.96 per diluted common share.

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Highlights for the Third Quarter of 2026

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●Operating earnings1 of $18.6 million, or $1.10 per diluted common share

●Net organic loan and lease growth of $174 million representing 15% annualized quarter-over-quarter increase

●Core deposit2 growth of $163 million representing 12% annualized quarter-over-quarter increase

●Tangible book value per common share1 growth of 15% annualized, excluding the impacts of AOCI

●$2.6 million tax benefit recognized in connection with the purchase of transferable energy tax credits

●Opened full-service Columbus, GA financial center

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Billy Carroll, President & CEO, stated: “Our third quarter was highlighted by continued organic growth, with $174 million in net loan and lease growth and $163 million in core deposit growth, representing annualized increases of 15% and 12%, respectively. We achieved another quarterly record in operating revenue1 at $57.5 million and diluted operating earnings1 per share totaled $1.10. We also opened our new full-service financial center in Columbus, Georgia, marking an important step in expanding our presence in the market. Growing our deposit franchise alongside our lending business remains an important priority as we execute our relationship-focused strategy. We remain committed to disciplined pricing, credit quality and expense management as we work to translate continued growth into sustainable returns for our shareholders. I want to thank our associates for their dedication, their commitment to our clients and the work they do every day to advance our Company.”

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SmartFinancial's Chairman, Miller Welborn, concluded: “The Board remains committed to delivering sustainable returns for our shareholders while building a Company where our associates can grow and thrive. Tangible book value per share, an important measure of the value we are creating for shareholders, grew 4% annualized during the quarter, including the effects of accumulated other comprehensive income, and 15% annualized excluding those effects. We also welcomed several new business production team members during the quarter, strengthening our capacity to serve clients and pursue profitable growth. As we expand, our commitment to our associates and our responsibility to shareholders remain closely connected. Building a great Company means creating opportunities for our people, delivering for our clients and translating those efforts into lasting shareholder value.”

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Net Interest Income and Net Interest Margin

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Net interest income was $49.4 million for the third quarter of 2026, compared to $48.1 million for the prior quarter.  Average earning assets totaled $5.71 billion, an increase of $193.1 million from the prior quarter. The balances of average earning assets increased quarter-over-quarter, primarily from an increase in average loans and leases of $165.5 million, average federal funds sold and other earning assets of $20.5 million and average securities of $7.1 million.  Average interest-bearing liabilities increased by $218.0 million from the prior quarter, primarily attributable to an increase in average interest-bearing deposits of $258.9 million, offset by a decrease in average borrowings of $41.0 million.

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The tax equivalent net interest margin was 3.45% for the third quarter of 2026, down from 3.52% for the prior quarter. The decrease is primarily attributable to higher funding costs, which more than offset the improvement in earning-asset yields. The yield on loans and

1 Non-GAAP measure. See “Non-GAAP Financial Measures” for more information and see the Non-GAAP Reconciliations.

2 Core deposits include all deposits less brokered and one-way buy Certificate of Deposit Account Registry Service (“CDARS”) deposits.

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leases, excluding loan fees, fully taxable equivalent (“FTE”) was 5.99% for the third quarter of 2026, compared to 5.95% for the prior quarter.

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The cost of total deposits for the third quarter of 2026 was 2.26%, compared to 2.15% in the prior quarter. The cost of interest-bearing liabilities was 2.81% for the third quarter of 2026, compared to 2.74% in the prior quarter. The cost of average interest-bearing deposits was 2.71% for the third quarter of 2026, compared to 2.62% for the prior quarter, an increase of 9 basis points.

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The following table presents selected interest rates and yields for the periods indicated:

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Three Months Ended

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