SmarFinancial: Q1 Earnings Snapshot
By AP News
Published - Apr 24, 2023, 05:09 PM ET
Last Updated - Jun 22, 2023, 04:25 AM EDT
KNOXVILLE, Tenn. (AP) — KNOXVILLE, Tenn. (AP) — SmartFinancial Inc. (SMBK) on Monday reported first-quarter profit of $11.5 million.
The Knoxville, Tennessee-based bank said it had earnings of 68 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 60 cents per share.
The bank holding company posted revenue of $60.1 million in the period. Its revenue net of interest expense was $42.9 million, which missed Street forecasts. Three analysts surveyed by Zacks expected $43.1 million.
