Form 8-K

8-K — SMARTFINANCIAL INC.

Accession: 0001104659-26-085102

Filed: 2026-07-20

Period: 2026-07-20

CIK: 0001038773

SIC: 6021 (NATIONAL COMMERCIAL BANKS)

Item: Results of Operations and Financial Condition

Item: Regulation FD Disclosure

Item: Financial Statements and Exhibits

Documents

8-K — smbk-20260720x8k.htm (Primary)

EX-99.1 (smbk-20260720xex99d1.htm)

EX-99.2 (smbk-20260720xex99d2.htm)

GRAPHIC (smbk-20260720xex99d1002.jpg)

GRAPHIC (smbk-20260720xex99d1003.jpg)

GRAPHIC (smbk-20260720xex99d2g001.jpg)

GRAPHIC (smbk-20260720xex99d2g002.jpg)

GRAPHIC (smbk-20260720xex99d2g003.jpg)

GRAPHIC (smbk-20260720xex99d2g004.jpg)

GRAPHIC (smbk-20260720xex99d2g005.jpg)

GRAPHIC (smbk-20260720xex99d2g006.jpg)

GRAPHIC (smbk-20260720xex99d2g007.jpg)

GRAPHIC (smbk-20260720xex99d2g008.jpg)

GRAPHIC (smbk-20260720xex99d2g009.jpg)

GRAPHIC (smbk-20260720xex99d2g010.jpg)

GRAPHIC (smbk-20260720xex99d2g011.jpg)

GRAPHIC (smbk-20260720xex99d2g012.jpg)

GRAPHIC (smbk-20260720xex99d2g013.jpg)

GRAPHIC (smbk-20260720xex99d2g014.jpg)

GRAPHIC (smbk-20260720xex99d2g015.jpg)

GRAPHIC (smbk-20260720xex99d2g016.jpg)

GRAPHIC (smbk-20260720xex99d2g017.jpg)

GRAPHIC (smbk-20260720xex99d2g018.jpg)

GRAPHIC (smbk-20260720xex99d2g019.jpg)

GRAPHIC (smbk-20260720xex99d2g020.jpg)

GRAPHIC (smbk-20260720xex99d2g021.jpg)

GRAPHIC (smbk-20260720xex99d2g022.jpg)

GRAPHIC (smbk-20260720xex99d2g023.jpg)

GRAPHIC (smbk-20260720xex99d2g024.jpg)

GRAPHIC (smbk-20260720xex99d2g025.jpg)

GRAPHIC (smbk-20260720xex99d2g026.jpg)

GRAPHIC (smbk-20260720xex99d2g027.jpg)

GRAPHIC (smbk-20260720xex99d2g028.jpg)

GRAPHIC (smbk-20260720xex99d2g029.jpg)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: smbk-20260720x8k.htm · Sequence: 1

SMARTFINANCIAL, INC._July 20, 2026

0001038773false00010387732026-07-202026-07-20

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of earliest event reported: July 20, 2026

SMARTFINANCIAL, INC.

(Exact name of registrant as specified in its charter)

Tennessee

001-37661

62-1173944

(State or other jurisdiction of incorporation)

(Commission File Number)

(IRS Employer Identification No.)

5401 Kingston Pike, Suite 600

Knoxville, Tennessee

37919

(Address of Principal Executive Offices)

(Zip Code)

(865) 437-5700

(Registrant’s telephone number, including area code)

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading

Symbol(s)

Name of Exchange on which Registered

Common Stock, par value $1.00 per share

SMBK

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the

Exchange Act. ☐

Item 2.02

Results of Operations and Financial Condition.

On July 20, 2026, SmartFinancial, Inc. (“SmartFinancial”) issued a press release (the “Press Release”) reporting earnings results for its second quarter ending June 30, 2026. A copy of the Press Release is attached hereto as Exhibit 99.1.

In accordance with General Instructions B.2 of Form 8K, the information in Item 2.02 of this report (including Exhibit 99.1) shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 7.01

Regulation FD Disclosure.

SmartFinancial is filing an investor slide presentation that it intends to review in conjunction with its earnings release conference call on July 21, 2026. The slides are attached hereto as Exhibit 99.2.

On July 16, 2026, the board of directors of SmartFinancial declared a quarterly cash dividend of $0.09 per share of SmartFinancial common stock (the “Dividend”) payable on August 17, 2026, to shareholders of record as of the close of business on July 31, 2026. On July 20, 2026, SmartFinancial announced the Dividend in the Press Release. A copy of the Press Release is attached as Exhibit 99.1 hereto and incorporated herein by reference.

In accordance with General Instructions B.2 of Form 8K, the information in Item 7.01 of this report (including Exhibit 99.2) shall not be deemed to be “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01

Financial Statements and Exhibits

Exhibit No.

Description

99.1

Press release announcing second quarter 2026 financial results and quarterly cash dividend dated July 20, 2026

99.2

Second quarter 2026 investor presentation

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

SMARTFINANCIAL, INC.

Date: July 20, 2026

/s/ William Y. Carroll, Jr.

William Y. Carroll, Jr.

President & Chief Executive Officer

EX-99.1

Filename: smbk-20260720xex99d1.htm · Sequence: 2

Exhibit 99.1

2Q 2026

SmartFinancial Announces Results for the Second Quarter 2026

Regular Quarterly Cash Dividend

KNOXVILLE, TN – July 20, 2026 – SmartFinancial, Inc. ("SmartFinancial" or the "Company"; NYSE: SMBK), today announced net income of $16.3 million, or $0.96 per diluted common share, for the second quarter of 2026, compared to net income of $11.7 million, or $0.69 per diluted common share, for the second quarter of 2025, and compared to prior quarter net income of $13.7 million, or $0.81 per diluted common share.

Highlights for the Second Quarter of 2026

● Operating earnings1 of $16.3 million, or $0.96 per diluted common share

● Net organic loan and lease growth of $165 million representing 15% annualized quarter-over-quarter increase

● Surpassed $6 billion in total assets during the quarter

● Core deposit2 growth of $83 million representing 6% annualized quarter-over-quarter increase

● Quarter-over-quarter tangible book value per common share1 growth of 13% annualized

● Recertified as a Great Place to Work by over 97% of SmartBank Associates

Billy Carroll, President & CEO, stated: “Our second quarter results reflect steady progress in the execution of our strategy. During the quarter, we generated approximately 15% annualized loan growth and expanded our net interest margin to 3.52%, while maintaining excellent asset quality. Diluted earnings per share increased to $0.96, an improvement of $0.15 from the first quarter, and tangible book value per common share grew quarter over quarter by 13% annualized. We also generated positive operating leverage as revenue growth outpaced expense growth during the quarter. Pipelines across the Company remain healthy, and we believe the disruption created by ongoing consolidation and operational challenges at certain competitors continues to create meaningful opportunities to deepen relationships and gain market share. While we recognize there is still work to do, our strong momentum gives us confidence in the long-term trajectory of the Company and our ability to continue creating value for shareholders. I want to thank our associates for their hard work and commitment to our clients, which continue to drive our performance and position the Company for future growth.”

SmartFinancial's Chairman, Miller Welborn, concluded: “The momentum we continue to build across SmartBank, reflects the strength of our franchise and the commitment of our associates. Being recertified as a Great Place to Work by more than 97% of our associates is particularly meaningful because it speaks to the culture that has been foundational to our success. The results achieved this quarter reflect the disciplined execution of our associates across the Company and the benefits of the investments we have made in our markets, people, and operating platform. I want to thank our associates for the exceptional work they do every day to serve our clients and create long-term value for our shareholders. As we look ahead, we remain excited about the opportunities and confident in our ability to capitalize on them.”

Net Interest Income and Net Interest Margin

Net interest income was $48.1 million for the second quarter of 2026, compared to $45.9 million for the prior quarter. Average earning assets totaled $5.52 billion, an increase of $131.7 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 $176.3 million and average securities of $9.7 million, offset by a decrease in average federal funds sold and other earning assets of $54.3 million. Average interest-bearing liabilities increased by $153.3 million from the prior quarter, primarily attributable to an increase in average interest-bearing deposits of $115.5 million and borrowings of $37.7 million.

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.

The tax equivalent net interest margin was 3.52% for the second quarter of 2026, up from 3.48% for the prior quarter. This increase is primarily related to the increase in asset yields, outpacing the increase in liability costs. The yield on loans and leases, excluding loan fees, fully taxable equivalent (“FTE”) was 5.95% for the second quarter of 2026, compared to 5.93% for the prior quarter.

The cost of total deposits for the second quarter of 2026 was 2.15%, compared to 2.12% in the prior quarter. The cost of interest-bearing liabilities was 2.74% for the second quarter of 2026, compared to 2.72% in the prior quarter. The cost of average interest-bearing deposits was 2.62% for the second quarter of 2026, compared to 2.60% for the prior quarter, an increase of 2 basis points.

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

Three Months Ended

Jun

Mar

Increase

Selected Interest Rates and Yields

2026

(Decrease)

Yield on loans and leases, excluding loan fees, FTE

5.95

5.93

0.02

Yield on loans and leases, FTE

6.07

6.02

0.05

Yield on earning assets, FTE

5.70

5.62

0.08

Cost of interest-bearing deposits

2.62

2.60

0.02

Cost of total deposits

2.15

2.12

0.03

Cost of interest-bearing liabilities

2.74

2.72

0.02

Net interest margin, FTE

3.52

3.48

0.04

Allowance for Credit Losses on Loans and Leases and Credit Quality

At June 30, 2026, the allowance for credit losses was $45.3 million. The allowance for credit losses to total loans and leases was 0.97% as of June 30, 2026, and March 31, 2026. During the first quarter of 2026, SmartBank updated its ACL loss model by adopting a discounted cash flow methodology, refining key assumptions and qualitative factors, and enhancing its use of macroeconomic drivers. These changes contributed to a higher provision for credit losses during the first quarter.

The following table presents detailed information related to the provision for credit losses for the periods indicated (dollars in thousands):

Three Months Ended

Jun

Mar

Increase

Allowance for Credit Losses on Loans and Leases Rollforward

2026

(Decrease)

Beginning balance

43,950

40,906

3,044

Charge-offs

(658)

(229)

(429)

Recoveries

105

Net charge-offs

(553)

(169)

(384)

Provision for credit losses (1)

1,855

3,213

(1,358)

Ending balance

45,252

43,950

1,302

Allowance for credit losses to total loans and leases

0.97

(1) The current quarter-ended and prior quarter-ended provision excludes an unfunded commitments release of $392 thousand and a provision of $926 thousand, respectively. At June 30, 2026, and March 31, 2026, the unfunded commitment liability totaled $4.1 million and $4.5 million, respectively.

Nonperforming loans and leases as a percentage of total loans and leases was 0.25% as of June 30, 2026, and 0.27% as of March 31, 2026. Total nonperforming assets (which include nonaccrual loans and leases, loans and leases past due 90 days or more and still accruing, other real estate owned and other repossessed assets) as a percentage of total assets was 0.23% as of June 30, 2026, and 0.25% as of March 31, 2026.

The following table presents detailed information related to credit quality for the periods indicated (dollars in thousands):

Three Months Ended

Jun

Mar

Increase

Credit Quality

2026

(Decrease)

Nonaccrual loans and leases

11,474

12,257

(783)

Loans and leases past due 90 days or more and still accruing

Total nonperforming loans and leases

11,474

12,257

(783)

Other real estate owned

Other repossessed assets

2,754

2,798

(44)

Total nonperforming assets

14,228

15,055

(827)

Nonperforming loans and leases to total loans and leases

0.25

0.27

(0.02)

Nonperforming assets to total assets

0.23

0.25

(0.02)

Noninterest Income

Noninterest income decreased slightly, by $55 thousand to $7.9 million for the second quarter of 2026, compared to $7.9 million for the prior quarter. The second quarter decrease was primarily attributable to lower capital markets’ income included in other noninterest income, offset by increases in interchange and debit card transaction fees and mortgage banking income.

The following table presents detailed information related to noninterest income for the periods indicated (dollars in thousands):

Three Months Ended

Jun

Mar

Increase

Noninterest Income

2026

(Decrease)

Service charges on deposit accounts

1,881

1,853

Gain on sale of securities, net

Mortgage banking income

916

760

156

Investment services

1,724

1,796

(72)

Interchange and debit card transaction fees

1,676

1,418

258

Other

1,635

2,113

(478)

Total noninterest income

7,886

7,941

(55)

Noninterest Expense

Noninterest expense increased $1.0 million to $34.0 million for the second quarter of 2026, compared to $32.9 million for the prior quarter. The second quarter increase was primarily attributable to increases in salaries and employee benefits, FDIC insurance, data processing and technology and professional services, offset by a decrease in other expense.

The following table presents detailed information related to noninterest expense for the periods indicated (dollars in thousands):

Three Months Ended

Jun

Mar

Increase

Noninterest Expense

2026

(Decrease)

Salaries and employee benefits

21,015

20,414

601

Occupancy and equipment

3,351

3,344

FDIC insurance

920

750

170

Other real estate and loan related expenses

806

792

Advertising and marketing

408

387

Data processing and technology

2,683

2,436

247

Professional services

1,366

1,193

173

Amortization of intangibles

454

457

(3)

Other

2,952

3,142

(190)

Total noninterest expense

33,955

32,915

1,040

Income Tax Expense

Income tax expense was $4.2 million for the second quarter of 2026, compared with $3.1 million for the prior quarter. The $1.1 million increase was primarily driven by a higher projected annual effective tax rate resulting from increased forecasted taxable income relative to non-taxable income.

Balance Sheet Trends

Total assets at June 30, 2026, were $6.12 billion compared to $5.86 billion at December 31, 2025. The $254.5 million increase was primarily attributable to increases in loans and leases of $319.4 million, securities of $17.9 million, premises and equipment of $4.9 million, and bank owned life insurance of $1.8 million, offset by decreases in cash and cash equivalents of $85.0 million and loans held for sale of $1.2 million, as well as an increase in the allowance for credit losses of $4.3 million.

Total liabilities were $5.54 billion at June 30, 2026, compared to $5.31 billion at December 31, 2025, an increase of $230.1 million. Total deposits increased $232.8 million, which was driven primarily by increases in money market and savings deposits of $181.2 million, interest-bearing demand deposits of $76.4 million, and time deposits of $116.3 million, offset by a decline in noninterest-bearing demand deposits of $141.0 million. In addition, borrowings decreased by $2.4 million and other liabilities decreased by $434 thousand.

Shareholders' equity at June 30, 2026, totaled $576.9 million, an increase of $24.4 million, from December 31, 2025. The increase in shareholders' equity was primarily driven by net income of $30.0 million for the six months ending June 30, 2026, offset by an increase of $3.6 million in accumulated other comprehensive loss and dividends paid of $2.9 million. Tangible book value per common share1 was $28.22 at June 30, 2026, compared to $26.85 at December 31, 2025. Tangible common equity1 as a percentage of tangible assets1 was 8.01% at June 30, 2026, compared with 7.93% at December 31, 2025.

The following table presents selected balance sheet information for the periods indicated (dollars in thousands):

Jun

Dec

Increase

Selected Balance Sheet Information

2026

2025

(Decrease)

Total assets

6,115,306

5,860,810

254,496

Total liabilities

5,538,382

5,308,318

230,064

Total equity

576,924

552,492

24,432

Securities

679,913

662,003

17,910

Loans and leases

4,682,935

4,363,582

319,353

Deposits

5,385,550

5,152,789

232,761

Board of Directors Declares Dividend

On July 16, 2026, the board of directors of SmartFinancial declared a quarterly cash dividend of $0.09 per share of SmartFinancial common stock payable on August 17, 2026, to shareholders of record as of the close of business on July 31, 2026.

Conference Call Information

SmartFinancial issued this earnings release for the second quarter of 2026 on Monday, July 20, 2026, and will host a conference call on Tuesday, July 21, 2026, at 10:00 a.m. ET. To access this interactive teleconference, dial (833) 461-5787 and enter the Meeting ID: 208 155 555. A link to a replay of the conference call will be available on the Company’s webpage through July 21, 2027. Conference call materials will be published on the Company’s webpage located at http://www.smartfinancialinc.com/CorporateProfile, at 9:00 a.m. ET prior to the conference call.

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

About SmartFinancial, Inc.

SmartFinancial, Inc., based in Knoxville, Tennessee, is the bank holding company for SmartBank. SmartBank is a full-service commercial bank founded in 2007, with branches across Tennessee, Alabama, and Florida and loan production offices in Tennessee and Georgia. Recruiting the best people, delivering exceptional client service, strategic branching, and a disciplined approach to lending have contributed to SmartBank’s success. More information about SmartFinancial can be found on its website: www.smartfinancialinc.com.

Source

SmartFinancial, Inc.

Investor Contacts

Billy Carroll

Nathan Strall

President & Chief Executive Officer

Vice President and Director of Strategy & Corporate Development

Email: billy.carroll@smartbank.com

Email: nathan.strall@smartbank.com

Phone: (865) 868-0613

Phone: (865) 868-2604

Non-GAAP Financial Measures

Statements included in this earnings release include measures not recognized under U.S. generally accepted accounting principles (“GAAP”) and therefore are considered Non-GAAP financial measures (“Non-GAAP”) and should be read along with the accompanying tables, which provide a reconciliation of Non-GAAP financial measures to GAAP financial measures. SmartFinancial management uses several Non-GAAP financial measures and ratios derived therefrom in its analysis of the Company's performance, including:

(1)

Operating earnings

(11)

Operating return on average assets

(2)

Operating revenue

(12)

Operating PPNR return on average assets

(3)

Operating noninterest income

(13)

Operating return on average shareholders’ equity

(4)

Operating noninterest expense

(14)

Return on average tangible common equity

(5)

Operating pre-provision net revenue (“PPNR”) earnings

(15)

Operating return on average tangible common equity

(6)

Tangible common equity

(16)

Operating noninterest income/average assets

(7)

Average tangible common equity

(17)

Operating noninterest expense/average assets

(8)

Tangible book value per common share

(18)

Tangible common equity to tangible assets

(9)

Tangible assets

(19)

Operating earnings per common share

(10)

Operating efficiency ratio

A detailed reconciliation and definition of these items and the ratios derived therefrom is available in the Non-GAAP reconciliations.

Management believes that Non-GAAP financial measures provide additional useful information that allows investors to evaluate the ongoing performance of the Company and provide meaningful comparisons to its peers. Management also believes these Non-GAAP financial measures enhance investors' ability to compare period-to-period financial results and allow investors and Company management to view our operating results excluding the impact of items that are not reflective of the underlying operating performance.

Non-GAAP financial measures should not be considered as an alternative to any measure of performance or financial condition as promulgated under GAAP, and investors should consider SmartFinancial's performance and financial condition as reported under GAAP and all other relevant information when assessing the performance or financial condition of the Company. Non-GAAP financial measures have limitations as analytical tools, and investors should not consider them in isolation or as a substitute for analysis of the results or financial condition as reported under GAAP.

Forward-Looking Statements

This news release may contain statements that are based on management’s current estimates or expectations of future events or future results, and that may be deemed to constitute forward-looking statements as defined under the Private Securities Litigation Reform Act of 1995. These statements are not historical in nature and can generally be identified by such words as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “may,” “estimate,” and similar expressions. All forward-looking statements are subject to risks, uncertainties, and other factors that may cause the actual results of SmartFinancial to differ materially from future results expressed or implied by such forward-looking statements. Such risks, uncertainties, and other factors include, among others,

(1) risks associated with our growth strategy, including a failure to implement our growth plans or an inability to manage our growth effectively;

(2) claims and litigation arising from our business activities and from the companies we acquire, which may relate to contractual issues, environmental laws, fiduciary responsibility, and other matters;

(3) general risks related to our disposition, merger and acquisition activity, including risks associated with our pursuit of future acquisitions or sales;

(4) changes in management’s plans for the future;

(5) prevailing, or changes in, economic or political conditions (including those resulting from the current administration and Congress), particularly in our market areas, including the effects of declines in the real estate market, high unemployment rates, inflationary pressures, elevated interest rates and slowdowns in economic growth, as well as the financial stress on borrowers as a result of the foregoing;

(6) our ability to anticipate interest rate changes and manage interest rate risk (including the impact of higher interest rates on macroeconomic conditions, competition, and the cost of doing business and the impact of interest rate fluctuations on our financial projections, models and guidance);

(7) tariffs or trade wars (including reduced consumer spending, lower economic growth or recession, reduced demand for U.S. exports, disruptions to supply chains, and decreased demand for other banking products and services);

(8) uncertain duration of trade conflicts and the magnitude of the impact that proposed tariffs may have on our customers’ businesses;

(9) increased technology and cybersecurity risks, including generative artificial intelligence risks;

(10) the impact of a failure in, or breach of, our operational or security systems or infrastructure, or those of third parties with whom we do business, including as a result of cyber-attacks or an increase in the incidence or severity of fraud, illegal payments, security breaches or other illegal acts impacting us and our customers;

(11) credit risk associated with our lending activities;

(12) changes in loan demand, real estate values, or competition;

(13) developments in our mortgage banking business, including loan modifications, general demand, and the effects of judicial or regulatory requirements or guidance;

(14) changes in accounting principles, policies, or guidelines;

(15) changes in applicable laws, rules, or regulations;

(16) adverse results from current or future litigation, regulatory examinations or other legal and/or regulatory actions;

(17) potential impacts of any adverse developments in the banking industry, including the impacts on customer confidence, deposit outflows, liquidity and the regulatory response thereto;

(18) significant turbulence or a disruption in the capital or financial markets and the effect of a fall in stock market prices on our investment securities;

(19) the effects of war or other conflicts;

(20) the impact of government actions or inactions, including a prolonged shutdown of the federal government; and

(21) other general competitive, economic, political, and market factors, including those affecting our business, operations, pricing, products, or services.

These and other factors that could cause results to differ materially from those described in the forward-looking statements can be found in SmartFinancial’s most recent annual report on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K, in each case filed with or furnished to the Securities and Exchange Commission (the “SEC”) and available on the SEC’s website (www.sec.gov). Undue reliance should not be placed on forward-looking statements. SmartFinancial disclaims any obligation to update or revise any forward-looking statements contained in this release, which speak only as of the date hereof, whether as a result of new information, future events, or otherwise.

SmartFinancial, Inc. and Subsidiary

Condensed Consolidated Financial Information - (unaudited)

(dollars in thousands)

Ending Balances

Jun

Mar

Dec

Sep

Jun

2026

2025

Assets:

Cash and cash equivalents

379,387

346,071

464,417

557,127

365,096

Securities available-for-sale, at fair value

560,065

552,083

539,882

511,095

502,150

Securities held-to-maturity, at amortized cost

119,848

120,968

122,121

123,364

124,520

Other investments

17,529

16,597

16,441

14,888

14,713

Loans held for sale

9,628

7,277

10,865

9,855

5,484

Loans and leases

4,682,935

4,518,391

4,363,582

4,222,369

4,124,062

Less: Allowance for credit losses

(45,252)

(43,950)

(40,906)

(39,074)

(39,776)

Loans and leases, net

4,637,683

4,474,441

4,322,676

4,183,295

4,084,286

Premises and equipment, net

93,314

93,360

88,387

89,250

90,204

Other real estate owned

—

144

Goodwill and other intangibles, net

94,417

94,871

95,328

95,807

103,588

Bank owned life insurance

121,353

120,438

119,525

118,610

117,697

Other assets

82,082

81,579

81,168

81,692

82,981

Total assets

6,115,306

5,907,685

5,860,810

5,784,983

5,490,863

Liabilities:

Deposits:

Noninterest-bearing demand

921,876

951,366

1,062,918

931,477

906,965

Interest-bearing demand

1,022,074

954,292

945,716

929,454

843,820

Money market and savings

2,454,805

2,455,945

2,273,612

2,218,313

2,124,623

Time deposits

986,795

834,633

870,543

971,653

996,712

Total deposits

5,385,550

5,196,236

5,152,789

5,050,897

4,872,120

Borrowings

603

3,178

3,009

1,301

6,966

Subordinated debt

98,805

98,733

98,662

138,604

39,726

Other liabilities

53,424

47,377

53,858

55,699

52,924

Total liabilities

5,538,382

5,345,524

5,308,318

5,246,501

4,971,736

Shareholders' Equity:

Common stock

17,098

17,029

17,028

17,018

Additional paid-in capital

296,841

296,284

295,950

295,742

295,209

Retained earnings

275,813

261,032

248,719

236,380

224,061

Accumulated other comprehensive loss

(12,941)

(12,366)

(9,319)

(10,781)

(17,274)

Total shareholders' equity attributable to SmartFinancial Inc. and Subsidiary

576,811

562,048

552,379

538,369

519,014

Non-controlling interest - preferred stock of subsidiary

113

Total shareholders' equity

576,924

562,161

552,492

538,482

519,127

Total liabilities & shareholders' equity

6,115,306

5,907,685

5,860,810

5,784,983

5,490,863

SmartFinancial, Inc. and Subsidiary

Condensed Consolidated Financial Information - (unaudited)

(dollars in thousands except share and per share data)

Three Months Ended

Six Months Ended

Jun

Mar

Dec

Sep

Jun

2026

2025

2026

2025

Interest income:

Loans and leases, including fees

69,546

65,638

65,573

64,282

61,049

135,185

118,811

Investment securities:

Taxable

5,722

5,492

5,662

4,876

4,848

11,213

9,623

Tax-exempt

565

555

536

441

395

1,121

749

Federal funds sold and other earning assets

2,209

2,585

3,854

4,919

3,161

4,793

6,647

Total interest income

78,042

74,270

75,625

74,518

69,453

152,312

135,830

Interest expense:

Deposits

27,723

26,529

28,646

30,464

28,301

54,252

55,636

Borrowings

371

140

Subordinated debt

1,884

1,864

1,884

1,610

739

3,748

1,472

Total interest expense

29,978

28,394

30,531

32,088

29,110

58,371

57,248

Net interest income

48,064

45,876

45,094

42,430

40,343

93,941

78,582

Provision for credit losses

1,463

4,139

4,132

227

2,411

5,602

3,391

Net interest income after provision for credit losses

46,601

41,737

40,962

42,203

37,932

88,339

75,191

Noninterest income:

Service charges on deposit accounts

1,881

1,853

1,828

1,831

1,766

3,734

3,502

Gain (loss) on sale of securities, net

—

(3,715)

(4)

Mortgage banking

916

760

837

709

633

1,676

1,126

Investment services

1,724

1,796

1,683

1,690

1,440

3,520

3,209

Insurance commissions

—

1,049

1,554

—

2,967

Interchange and debit card transaction fees

1,676

1,418

1,375

1,338

1,342

3,094

2,562

Gain on sale of SBK Insurance ("SBKI")

—

3,955

—

Other

1,635

2,113

2,496

1,780

2,167

3,748

4,133

Total noninterest income

7,886

7,941

8,219

8,637

8,898

15,827

17,495

Noninterest expense:

Salaries and employee benefits

21,015

20,414

19,917

19,544

19,602

41,429

38,836

Occupancy and equipment

3,351

3,344

3,388

3,468

3,432

6,696

6,829

FDIC insurance

920

750

1,025

992

1,670

1,952

Other real estate and loan related expense

806

792

858

969

757

1,597

1,415

Advertising and marketing

408

387

393

454

390

795

772

Data processing and technology

2,683

2,436

2,413

2,594

2,651

5,119

5,309

Professional services

1,366

1,193

1,132

1,123

1,153

2,559

2,521

Amortization of intangibles

454

457

479

536

566

911

1,135

Restructuring expenses

—

1,310

—

Other

2,952

3,142

2,850

2,846

3,026

6,095

6,097

Total noninterest expense

33,955

32,915

32,471

33,869

32,569

66,871

64,866

Income before income taxes

20,532

16,763

16,710

16,971

14,261

37,295

27,820

Income tax expense

4,210

3,083

3,007

3,285

2,556

7,293

4,861

Net income

16,322

13,680

13,703

13,686

11,705

30,002

22,959

Earnings per common share:

Basic

0.97

0.81

0.82

0.70

1.78

1.37

Diluted

0.96

0.81

0.69

1.77

1.36

Weighted average common shares outstanding:

Basic

16,824,053

16,821,486

16,788,065

16,781,236

16,778,988

16,822,777

16,773,293

Diluted

16,961,750

16,935,530

16,922,482

16,908,920

16,878,736

16,958,496

16,875,608

SmartFinancial, Inc. and Subsidiary

Condensed Consolidated Financial Information - (unaudited)

(dollars in thousands)

YIELD ANALYSIS

Three Months Ended

June 30, 2026

March 31, 2026

June 30, 2025

Average

Yield/

Average

Yield/

Average

Yield/

Balance

Interest

Cost

Balance

Interest

Cost

Balance

Interest

Cost

Assets:

Loans and leases, including fees1

4,610,444

69,740

6.07

4,434,181

65,855

6.02

4,050,485

61,294

6.07

Taxable securities

595,018

5,722

3.86

584,608

5,492

3.81

562,660

4,848

3.46

Tax-exempt securities2

79,820

715

3.59

80,535

703

3.54

66,223

500

3.03

Federal funds sold and other earning assets

232,257

2,209

3.81

286,539

2,585

3.66

275,647

3,161

4.60

Total interest-earning assets

5,517,539

78,386

5.70

5,385,863

74,635

5.62

4,955,015

69,803

5.65

Noninterest-earning assets

421,371

397,680

405,804

Total assets

5,938,910

5,783,543

5,360,819

Liabilities and Shareholders’ Equity:

Interest-bearing demand deposits

954,455

3,960

1.66

955,450

3,931

1.67

835,394

3,785

1.82

Money market and savings deposits

2,388,259

15,982

2.68

2,337,523

15,236

2.64

2,104,236

15,762

3.00

Time deposits

907,250

7,781

3.44

841,515

7,362

3.55

914,658

8,754

3.84

Total interest-bearing deposits

4,249,964

27,723

2.62

4,134,488

26,529

2.60

3,854,288

28,301

2.95

Borrowings

41,272

371

3.61

3,549

0.11

7,783

3.61

Subordinated debt

98,761

1,884

7.65

98,692

1,864

7.66

39,714

739

7.46

Total interest-bearing liabilities

4,389,997

29,978

2.74

4,236,729

28,394

2.72

3,901,785

29,110

2.99

Noninterest-bearing deposits

923,887

931,863

898,428

Other liabilities

53,677

54,603

49,539

Total liabilities

5,367,561

5,223,195

4,849,752

Shareholders' equity

571,349

560,348

511,067

Total liabilities and shareholders' equity

5,938,910

5,783,543

5,360,819

Net interest income, taxable equivalent

48,408

46,241

40,693

Interest rate spread

2.96

2.90

2.66

Tax equivalent net interest margin

3.52

3.48

3.29

Percentage of average interest-earning assets to average interest-bearing liabilities

125.68

127.12

126.99

Percentage of average equity to average assets

9.62

9.69

9.53

1 Yields computed on tax-exempt loans on a tax equivalent basis include $194 thousand, $218 thousand, and $245 thousand of taxable equivalent income for the quarters ended June 30, 2026, March 31, 2026, and June 30, 2025, respectively.

2 Yields computed on tax-exempt instruments on a tax equivalent basis include $150 thousand, $148 thousand, and $105 thousand of taxable equivalent income for the quarters ended June 30, 2026, March 31, 2026, and June 30, 2025, respectively.

SmartFinancial, Inc. and Subsidiary

Condensed Consolidated Financial Information - (unaudited)

(dollars in thousands)

YIELD ANALYSIS

Six Months Ended

June 30, 2026

June 30, 2025

Average

Yield/

Average

Yield/

Balance

Interest

Cost

Balance

Interest

Cost

Assets:

Loans and leases, including fees1

4,522,799

135,596

6.05

3,996,192

119,302

6.02

Taxable securities

589,843

11,213

3.83

559,306

9,623

3.47

Tax-exempt securities2

80,176

1,418

3.57

64,663

948

2.96

Federal funds sold and other earning assets

259,248

4,794

3.73

291,219

6,647

4.60

Total interest-earning assets

5,452,066

153,021

5.66

4,911,380

136,520

5.61

Noninterest-earning assets

409,589

405,832

Total assets

5,861,655

5,317,212

Liabilities and Shareholders’ Equity:

Interest-bearing demand deposits

954,950

7,891

1.67

841,077

7,528

1.80

Money market and savings deposits

2,363,031

31,218

2.66

2,084,296

30,826

2.98

Time deposits

874,564

15,143

3.49

897,889

17,282

3.88

Total interest-bearing deposits

4,192,545

54,252

2.61

3,823,262

55,636

2.93

Borrowings

22,515

371

3.32

8,000

140

3.53

Subordinated debt

98,727

3,748

7.66

39,703

1,472

7.48

Total interest-bearing liabilities

4,313,787

58,371

2.73

3,870,965

57,248

2.98

Noninterest-bearing deposits

927,853

891,293

Other liabilities

54,136

50,394

Total liabilities

5,295,776

4,812,652

Shareholders' equity

565,879

504,560

Total liabilities and shareholders' equity

5,861,655

5,317,212

Net interest income, taxable equivalent

94,650

79,272

Interest rate spread

2.93

2.62

Tax equivalent net interest margin

3.50

3.25

Percentage of average interest-earning assets to average interest-bearing liabilities

126.39

126.88

Percentage of average equity to average assets

9.65

9.49

1 Yields computed on tax-exempt loans on a tax equivalent basis include $412 thousand and $491 thousand of taxable equivalent income for the six months ended June 30, 2026, and June 30, 2025, respectively.

2 Yields computed on tax-exempt instruments on a tax equivalent basis include $298 thousand and $199 thousand of taxable equivalent income for the six months ended June 30, 2026, and June 30, 2025, respectively.

SmartFinancial, Inc. and Subsidiary

Condensed Consolidated Financial Information - (unaudited)

(dollars in thousands)

As of and for The Three Months Ended

Jun

Mar

Dec

Sep

Jun

2026

2025

Composition of Loans and Leases:

Commercial real estate:

Non-owner occupied

1,288,115

1,263,455

1,196,758

1,136,080

1,114,133

Owner occupied

1,080,959

1,033,211

1,022,871

1,012,088

958,989

Commercial real estate, total

2,369,074

2,296,666

2,219,629

2,148,168

2,073,122

Consumer real estate

881,640

851,484

834,626

811,150

803,270

Construction & land development

516,164

478,301

419,176

390,691

391,155

Commercial & industrial

842,849

819,875

817,595

794,751

778,754

Leases

52,411

54,296

55,422

60,301

62,495

Consumer and other

20,797

17,769

17,134

17,308

15,266

Total loans and leases

4,682,935

4,518,391

4,363,582

4,222,369

4,124,062

Asset Quality and Additional Loan Data:

Nonperforming loans and leases

11,474

12,257

9,442

10,099

7,921

Other real estate owned

—

144

Other repossessed assets

2,754

2,798

3,248

2,444

2,397

Total nonperforming assets

14,228

15,055

12,690

12,543

10,462

Modified loans and leases1 not included in nonperforming loans and leases

349

208

219

1,783

1,660

Net charge-offs to average loans and leases (annualized)

0.05

0.02

0.18

0.10

0.01

Allowance for credit losses to total loans and leases

0.97

0.94

0.93

0.96

Nonperforming loans and leases to total loans and leases

0.25

0.27

0.22

0.24

0.19

Nonperforming assets to total assets

0.23

0.25

0.22

0.19

Capital Ratios:

Equity to Assets

9.43

9.52

9.43

9.31

9.45

Tangible common equity to tangible assets (Non-GAAP)2

8.01

8.04

7.93

7.78

7.71

SmartFinancial, Inc.3

Tier 1 leverage

8.47

8.41

8.30

8.21

8.25

Common equity Tier 1

9.77

9.83

9.85

9.67

Tier 1 capital

9.77

9.83

9.85

9.67

Total capital

12.64

12.72

12.71

13.31

11.04

SmartBank3

Tier 1 leverage

9.86

9.88

9.71

9.59

8.88

Common equity Tier 1

11.38

11.47

11.51

11.56

10.41

Tier 1 capital

11.38

11.47

11.51

11.56

10.41

Total capital

12.30

12.41

12.32

12.37

11.25

1Borrowers that have experienced financial difficulty. Effective as of December 31, 2025, the Call Report instructions were changed for institutions to report loan modifications to borrowers experiencing financial difficulty for a 12-month period after the modification. This change is reflected in the December 31, 2025, information and going forward.

2Total common equity less intangibles divided by total assets less intangibles. See reconciliation of Non-GAAP measures.

3 Current period capital ratios are estimated as of the date of this earnings release.

SmartFinancial, Inc. and Subsidiary

Condensed Consolidated Financial Information - (unaudited)

(dollars in thousands except share and per share data)

As of and for The

Three Months Ended

Six Months Ended

Jun

Mar

Dec

Sep

Jun

2026

2025

2026

2025

Selected Performance Ratios (Annualized):

Return on average assets

1.10

0.96

0.95

0.96

0.88

1.03

0.87

Return on average shareholders' equity

11.46

9.90

9.95

10.33

9.19

10.69

9.18

Return on average tangible common equity¹

13.74

11.93

12.06

12.79

11.53

12.85

11.56

Noninterest income / average assets

0.53

0.56

0.57

0.61

0.67

0.54

0.66

Noninterest expense / average assets

2.29

2.31

2.24

2.38

2.44

2.30

2.46

Efficiency ratio

60.69

61.16

60.91

66.32

66.14

60.92

67.51

Operating Selected Performance Ratios (Annualized):

Operating return on average assets1

1.10

0.96

0.95

1.02

0.88

1.03

0.87

Operating PPNR return on average assets1

1.48

1.47

1.44

1.29

1.25

1.47

1.18

Operating return on average shareholders' equity1

11.43

9.90

9.96

10.92

9.19

10.68

9.18

Operating return on average tangible common equity1

13.70

11.93

12.07

13.53

11.53

12.83

11.57

Operating efficiency ratio1

60.38

60.75

60.45

63.61

65.66

60.56

67.02

Operating noninterest income / average assets1

0.53

0.56

0.57

0.59

0.67

0.54

0.66

Operating noninterest expense / average assets1

2.29

2.31

2.24

2.29

2.44

2.30

2.46

Selected Interest Rates and Yields:

Yield on loans and leases, excluding loan fees, FTE

5.95

5.93

6.00

6.05

5.99

5.94

Yield on loans and leases, FTE

6.07

6.02

6.08

6.14

6.07

6.05

6.02

Yield on earning assets, FTE

5.70

5.62

5.65

5.68

5.65

5.66

5.61

Cost of interest-bearing deposits

2.62

2.60

2.79

2.98

2.95

2.61

2.93

Cost of total deposits

2.15

2.12

2.26

2.44

2.39

2.14

2.38

Cost of interest-bearing liabilities

2.74

2.72

2.90

3.07

2.99

2.73

2.98

Net interest margin, FTE

3.52

3.48

3.38

3.25

3.29

3.50

3.25

Per Common Share:

Net income, basic

0.97

0.81

0.82

0.70

1.78

1.37

Net income, diluted

0.96

0.81

0.69

1.77

1.36

Operating earnings, basic¹

0.97

0.81

0.82

0.86

0.70

1.78

1.37

Operating earnings, diluted¹

0.96

0.81

0.86

0.69

1.77

1.36

Book value per common share

33.74

32.88

32.44

31.62

30.51

33.74

30.51

Tangible book value per common share¹

28.22

27.33

26.85

26.00

24.42

28.22

24.42

Common shares outstanding

17,098,473

17,029,317

17,028,001

17,017,547

17,098,473

17,017,547

¹Non-GAAP measure. See reconciliation of Non-GAAP measures.

SmartFinancial, Inc. and Subsidiary

Condensed Consolidated Financial Information - (unaudited)

(dollars in thousands)

NON-GAAP RECONCILIATIONS

Three Months Ended

Six Months Ended

Jun

Mar

Dec

Sep

Jun

2026

2025

2026

2025

Operating Earnings:

Net income (GAAP)

16,322

13,680

13,703

13,686

11,705

30,002

22,959

Noninterest income:

Securities (gains) losses, net

(54)

(1)

—

3,715

(55)

Gain on sale of SBKI

—

(3,955)

—

Noninterest expenses:

Restructuring expenses

—

1,310

—

Income taxes:

Income tax effect of adjustments

—

(4)

(276)

(1)

Operating earnings (Non-GAAP)

16,282

13,679

13,715

14,480

11,708

29,961

22,962

Operating earnings per common share (Non-GAAP):

Basic

0.97

0.81

0.82

0.86

0.70

1.78

1.37

Diluted

0.96

0.81

0.86

0.69

1.77

1.36

Operating Noninterest Income:

Noninterest income (GAAP)

7,886

7,941

8,219

8,637

8,898

15,827

17,495

Securities (gains) losses, net

(54)

(1)

—

3,715

(55)

Gain on sale of SBKI

—

(3,955)

—

Operating noninterest income (Non-GAAP)

7,832

7,940

8,219

8,397

8,902

15,772

17,499

Operating noninterest income (Non-GAAP)/average assets1

0.53

0.56

0.57

0.59

0.67

0.54

0.66

Operating Noninterest Expense:

Noninterest expense (GAAP)

33,955

32,915

32,471

33,869

32,569

66,871

64,866

Restructuring expenses

—

(16)

(1,310)

—

Operating noninterest expense (Non-GAAP)

33,955

32,915

32,455

32,559

32,569

66,871

64,866

Operating noninterest expense (Non-GAAP)/average assets2

2.29

2.31

2.24

2.29

2.44

2.30

2.46

Operating Pre-provision Net revenue ("PPNR") Earnings:

Net interest income (GAAP)

48,064

45,876

45,094

42,430

40,343

93,941

78,582

Operating noninterest income (Non-GAAP)

7,832

7,940

8,219

8,397

8,902

15,772

17,499

Operating noninterest expense (Non-GAAP)

(33,955)

(32,915)

(32,455)

(32,559)

(32,569)

(66,871)

(64,866)

Operating PPNR earnings (Non-GAAP)

21,941

20,901

20,858

18,268

16,676

42,842

31,215

Non-GAAP Return Ratios:

Operating return on average assets (Non-GAAP)3

1.10

0.96

0.95

1.02

0.88

1.03

0.87

Operating PPNR return on average assets (Non-GAAP)4

1.48

1.47

1.44

1.29

1.25

1.47

1.18

Return on average tangible common equity (Non-GAAP)5

13.74

11.93

12.06

12.79

11.53

12.85

11.56

Operating return on average shareholders' equity (Non-GAAP)6

11.43

9.90

9.96

10.92

9.19

10.68

9.18

Operating return on average tangible common equity (Non-GAAP)7

13.70

11.93

12.07

13.53

11.53

12.83

11.57

Operating Efficiency Ratio:

Efficiency ratio (GAAP)

60.69

61.16

60.91

66.32

66.14

60.92

67.51

Adjustment for taxable equivalent yields

(0.38)

(0.41)

(0.43)

(0.47)

(0.40)

(0.49)

Adjustment for securities gains (losses)

0.07

—

(4.50)

(0.01)

0.04

—

Adjustment for sale of SBKI

—

5.57

—

Adjustment for restructuring cost

—

(0.02)

(3.31)

—

Operating efficiency ratio (Non-GAAP)

60.38

60.75

60.45

63.61

65.66

60.56

67.02

1Operating noninterest income (Non-GAAP) is annualized and divided by average assets.

2Operating noninterest expense (Non-GAAP) is annualized and divided by average assets.

3Operating return on average assets (Non-GAAP) is the annualized operating earnings (Non-GAAP) divided by average assets.

4Operating PPNR return on average assets (Non-GAAP) is the annualized operating PPNR earnings (Non-GAAP) divided by average assets.

5Return on average tangible common equity (Non-GAAP) is the annualized net income divided by average tangible common equity (Non-GAAP).

6Operating return on average shareholders’ equity (Non-GAAP) is the annualized operating earnings (Non-GAAP) divided by average equity.

7Operating return on average tangible common equity (Non-GAAP) is the annualized operating earnings (Non-GAAP) divided by average tangible common equity (Non-GAAP).

SmartFinancial, Inc. and Subsidiary

Condensed Consolidated Financial Information - (unaudited)

(dollars in thousands)

NON-GAAP RECONCILIATIONS

Three Months Ended

Jun

Mar

Dec

Sep

Jun

2026

2025

Tangible Common Equity:

Shareholders' equity (GAAP)

576,924

562,161

552,492

538,482

519,127

Less goodwill and other intangible assets

94,417

94,871

95,328

95,807

103,588

Tangible common equity (Non-GAAP)

482,507

467,290

457,164

442,675

415,539

Average Tangible Common Equity:

Average shareholders' equity (GAAP)

571,349

560,348

546,489

525,829

511,067

Less average goodwill and other intangible assets

94,696

95,145

95,619

101,326

103,936

Average tangible common equity (Non-GAAP)

476,653

465,203

450,870

424,503

407,131

Tangible Book Value per Common Share:

Book value per common share (GAAP)

33.74

32.88

32.44

31.62

30.51

Adjustment due to goodwill and other intangible assets

(5.52)

(5.55)

(5.59)

(5.63)

(6.09)

Tangible book value per common share (Non-GAAP)1

28.22

27.33

26.85

26.00

24.42

Tangible Common Equity to Tangible Assets:

Total Assets (GAAP)

6,115,306

5,907,685

5,860,810

5,784,983

5,490,863

Less goodwill and other intangibles

94,417

94,871

95,328

95,807

103,588

Tangible Assets (Non-GAAP)

6,020,889

5,812,814

5,765,482

5,689,176

5,387,275

Tangible common equity to tangible assets (Non-GAAP)

8.01%

8.04%

7.93%

7.78%

7.71%

1Tangible book value per share (Non-GAAP) is computed by dividing total shareholders’ equity, less goodwill and other intangible assets, by common shares outstanding.

EX-99.2

Filename: smbk-20260720xex99d2.htm · Sequence: 3

Exhibit 99.2

INVESTOR CALL

2Q 2026

July 21, 2026, 10:00am ET

Webcast: www.smartbank.com

(Investor Relations)

Audio Only: 1

-833

-461

-5787

Access Code: 208 155 555

Miller Welborn

Chairman of the Board

Billy Carroll

President & CEO

Ron Gorczynski

CFO

(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) Average tangible common equity

(ix) Tangible book value per common share

(x) Tangible book value per common share (excluding AOCI)

(xi) Tangible assets

(xii) Operating efficiency ratio

(xiii) Operating return on average assets

(xiv) Operating PPNR return on average assets

(xv) Operating return on average shareholders’ equity

(xvi) Return on average tangible common equity

(xvii) Operating return on average tangible common equity

(xviii) Operating noninterest income/average assets

(xix) Operating noninterest expense/average assets

(xx) Tangible common equity to tangible assets

(xxi) Operating earnings per common share

Forward-Looking Statements

This presentation may contain statements that are based on management’s current estimates or expectations of future events

or future results, and that may be deemed to constitute forward-looking statements as defined under the Private Securities

Litigation Reform Act of 1995. These statements on SmartFinancial Inc.’s (SmartFinancial) business and financial results and

conditions, are not historical in nature and can generally be identified by such words as “expect,” “anticipate,” “intend,” “plan,”

“believe,” “seek,” “may,” “estimate,” and similar expressions. All forward-looking statements are subject to risks, uncertainties,

and other factors that may cause the actual results of SmartFinancial to differ materially from future results expressed or implied

by such forward-looking statements. Such risks, uncertainties, and other factors include, among others,

(1) risks associated with our growth strategy, including a failure to implement our growth plans or an inability to manage our growth effectively;

(2) claims and litigation arising from our business activities and from the companies we acquire, which may relate to contractual issues,

environmental laws, fiduciary responsibility, and other matters;

(3) general risks related to our disposition merger and acquisition activity, including risks associated with our pursuit of future acquisitions or sales;

(4) changes in management’s plans for the future;

(5) prevailing, or changes in, economic or political conditions (including those resulting from the current administration and Congress), particularly in

our market areas, including the effects of declines in the real estate market, high unemployment rates, inflationary pressures, elevated interest

rates and slowdowns in economic growth, as well as the financial stress on borrowers as a result of the foregoing;

(6) our ability to anticipate interest rate changes and manage interest rate risk (including the impact of higher interest rates on macroeconomic

conditions, competition, and the cost of doing business and the impact of interest rate fluctuations on our financial projections, models and

guidance);

(7) tariffs or trade wars (including reduced consumer spending, lower economic growth or recession, reduced demand for U.S. exports, disruptions

to supply chains, and decreased demand for other banking products and services);

(8) uncertain duration of trade conflicts and the magnitude of the impact that proposed tariffs may have on our customers’ businesses;

(9) increased technology and cybersecurity risks, including generative artificial intelligence risks;

(10) the impact of a failure in, or breach of, our operational or security systems or infrastructure, or those of third parties with whom we do business,

including as a result of cyber-attacks or an increase in the incidence or severity of fraud, illegal payments, security breaches or other illegal acts

impacting us and our customers;

(11) credit risk associated with our lending activities;

(12) changes in loan demand, real estate values, or competition;

(13) developments in our mortgage banking business, including loan modifications, general demand, and the effects of judicial or regulatory

requirements or guidance;

(14) changes in accounting principles, policies, or guidelines;

(15) changes in applicable laws, rules, or regulations;

(16) adverse results from current or future litigation, regulatory examinations or other legal and/or regulatory actions;

(17) potential impacts of any adverse developments in the banking industry, including the impacts on customer confidence, deposit outflows, liquidity

and the regulatory response thereto;

(18) significant turbulence or a disruption in the capital or financial markets and the effect of a fall in stock market prices on our investment securities;

(19) the effects of war or other conflicts;

(20) the impact of government actions or inactions, including a prolonged shutdown of the federal government; and

(21) other general competitive, economic, political, and market factors, including those affecting our business, operations, pricing, products, or

services.

These and other factors that could cause results to differ materially from those described in the forward-looking statements can

be found in SmartFinancial’s most recent annual report on Form 10-K, quarterly reports on Form 10-Q, and current reports on

Form 8-K, in each case filed with or furnished to the Securities and Exchange Commission (the “SEC”) and available on the

SEC’s website (www.sec.gov). Undue reliance should not be placed on forward-looking statements. SmartFinancial disclaims

any obligation to update or revise any forward-looking statements contained in this presentation, which speak only as of the

date hereof, whether as a result of new information, future events, or otherwise.

DISCLOSURES

Non-GAAP Financial Measures

Statements included in this presentation include measures not recognized under U.S. generally accepted accounting principles

(GAAP) and therefore are considered Non-GAAP financial measures (Non-GAAP) and should be read along with the

accompanying tables, which provide a reconciliation of Non-GAAP financial measures to GAAP financial measures.

SmartFinancial management uses several Non-GAAP financial measures and ratios derived therefrom in its analysis of

SmartFinancial's performance, including:

Unless otherwise indicated, all financial data contained in this presentation is as of 6/30/26

A detailed reconciliation and definition of these items and the ratios derived therefrom is available in the Non-GAAP.

Management believes that Non-GAAP financial measures provide additional useful information that allows investors to evaluate

the ongoing performance of the company and provide meaningful comparisons to its peers. Management also believes these

Non-GAAP financial measures enhance investors' ability to compare period-to-period financial results and allow investors and

company management to view our operating results excluding the impact of items that are not reflective of the underlying

operating performance.

Non-GAAP financial measures should not be considered as an alternative to any measure of performance or financial condition

as promulgated under GAAP, and investors should consider SmartFinancial's performance and financial condition as reported

under GAAP and all other relevant information when assessing the performance or financial condition of the company. Non-GAAP financial measures have limitations as analytical tools, and investors should not consider them in isolation or as a

substitute for analysis of the results or financial condition as reported under GAAP.

$0.69

$0.81

$0.96

$0.69

$0.81

$0.96

2Q25 1Q26 2Q26

GAAP EPS Operating Diluted EPS

$30.51

$32.88 $33.74

$24.42

$27.33

$28.22

2Q25 1Q26 2Q26

BV Per Common Share TBV Per Common Share

0.88%

0.96%

1.10%

0.88%

0.96%

1.10%

2Q25 1Q26 2Q26

GAAP ROAA Operating ROAA

11.5%

11.9%

13.7%

11.5%

11.9%

13.7%

2Q25 1Q26 2Q26

ROATCE Operating ROATCE

Unless otherwise indicated, financial data as of or for the three months ended 6/30/26

1) Non-GAAP financial measure - for a reconciliation of Non-GAAP financial measures to their most directly comparable GAAP measures, see the Appendix

2) QoQ: Quarter-over-Quarter

3) “Loans” for purposes of this presentation includes all SmartFinancial loans and leases

4) Core deposits include all deposits less brokered and one-way buy CDARS deposits

QUARTERLY HIGHLIGHTS: SECOND QUARTER 2026

13%

QoQ2 Annualized

TBV per Common

Share Growth1

$0.96

Diluted Operating

EPS1

1.10%

Operating Return on

Average Assets1

13.7%

Operating Return on

Average Tang.

Common Equity1

60%

Operating Efficiency

Ratio1

QoQ Annualized

Core Deposit

Growth4

15%

QoQ Annualized

Organic Loan3

Growth

87%

Loan / Deposit

Ratio3

0.23%

Non-Performing

Assets / Assets

$6.1

Billion in Total

Assets

Earnings Per Share (EPS)

Book Value (BV) & Tangible Book

Value (TBV) Per Common Share

Return on Average Assets (ROAA)

Return on Average Tangible

Common Equity (ROATCE)

1 1

$11,543 $16,322

$2, 000

$4, 000

$6, 000

$8, 000

$10, 000

$12, 000

$14, 000

$16, 000

$18, 000

$20, 000 $0.68 $0.96

$1 $42,958 $55,950

$10, 000

$20, 000

$30, 000

$40, 000

$50, 000

$60, 000 $3,099 $4,683

$100

$1, 100

$2, 100

$3, 100

$4, 100

$5, 100 $4,280 $5,386

$2, 000

$2, 500

$3, 000

$3, 500

$4, 000

$4, 500

$5, 000

$5, 500 0.10%0.23%

GAAP KEY MEASURE TRENDS:

$ in Thousands

Net Income: Diluted EPS: Total Revenue:

Loans HFI: Deposits: NPAs / Assets:

$ in Thousands

$ in Millions $ in Millions

Diluted Earnings Per Share: Net Income / Diluted Common Shares Outstanding Total Revenue: Net Interest Income + Total Non-Interest Income

Loans HFI: Total Loans Held for Investment NPAs / Assets: Total Nonperforming Assets / Total Assets

$11,608 $16,282

$2, 000

$4, 000

$6, 000

$8, 000

$10, 000

$12, 000

$14, 000

$16, 000

$18, 000

$20, 000 $0.69 $0.96

$1 $15,815 $21,941

$5, 000

$10, 000

$15, 000

$20, 000

$25, 000 0.96%1.10%

$0 14.44% 13.70%

$0 $18.02 $28.22

$16

$18

$20

$22

$24

$26

$28

$30

NON-GAAP KEY MEASURE TRENDS1

1) Operating Earnings, Operating Diluted EPS, Operating PPNR Earnings, Operating ROAA, Operating ROATCE, Tangible Book Value Per Share and Tangible Common Equity are all Non-GAAP financial measures. For a reconciliation of Non-GAAP financial

measures to their most directly comparable GAAP measures, see the Appendix

$ in Thousands

Operating Earnings: Operating Diluted EPS: Operating PPNR Earnings:

Operating ROAA: Operating ROATCE: TBV Per Common Share:

$ in Thousands

Operating Diluted Earnings Per Share: Operating Earnings / Diluted Common Shares Outstanding Operating Pre-Provision Net Revenue Earnings: Net Interest Income + Operating Non-Interest Income – Operating Non-Interest Expense

Operating Non-Interest Income: Non-Interest Income Adjusted for Non-Operating, Non-Recurring Items

Operating Non-Interest Expense: Non-Interest Expense Adjusted for Non-Operating, Non-Recurring Items

Operating Return on Average Assets: Operating Earnings / Average Assets TBV Per Common Share: Tangible Common Equity / Total Common Shares Outstanding

Tangible Common Equity: Total Common Equity Less Goodwill, Core Deposit and Other

Intangibles

Operating Earnings: Net Income Adjusted for Non-Operating, Non-Recurring Items

Operating Return on Average Tangible Common Equity: Operating Earnings /

Average Tangible Common Equity

Tangible Common Equity: Total Common Equity Less Goodwill, Core Deposit and Other

Intangibles

$ in Thousands

SMARTFINANCIAL: EXPANDING SOUTHEAST FRANCHISE

$6.1

Billion in Total

Assets

$4.7

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 of our

culture. Our Associates are key

to SmartBank’s success.

$5.4

Billion in Total

Deposits

Total Branches

Knoxville Nashville

Huntsville

Tuscaloosa

Mobile

Pensacola

Birmingham

Auburn

Tallahassee

Dothan

Montgomery

Branch Offices

Current Loan Production Offices

Chattanooga

1) 2026 Great Place to Work survey

Panama City

97%

Destin

Columbus

$1.0 $1.1

$1.7

$2.3 $2.4

$3.3

$4.6 $4.6 $4.8

$5.3

$5.9

$6.1

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026

SMARTBANK JOURNEY: LOOKING AHEAD

Validation: Scaling: Leveraging:

• Focused on validating platform and

substantiating market need

• Completed Cornerstone merger-of-equals

• Completed functional initial public offering

• Began expanding commercial banking product

offering

• Quickly recognized the need for scale to

spread operating cost over larger asset base

• Focused on building scale through asset growth with

emphasis on fee revenue drivers

• Completed four bank acquisitions

• Acquired Fountain Equipment Finance

• Started dealer floor plan lending unit

• Expanded into seven new de novo markets

• Broadened Treasury Management and commercial

banking product package

• Implemented several multi-year IT infrastructure projects

• Consolidated inconsistent legacy products, services and

operational procedures

• Focus on leveraging existing investments to efficiently deploy capital

and enhance EPS and ROATCE

• Strategic hiring supported by existing infrastructure

• Further investment in commercial banking business

• Heightened focus on commercial sales process

• Targeted business relationship generation and client profitability

profiles

• Operational and product enhancement and delivery in key areas

(Treasury Management, digital capabilities, etc.)

• M&A focus shifted to strategic and/or “needle moving” opportunities

$ in Billions, unless otherwise indicated

Strategic Focus: Leverage Existing Infrastructure Investments to Drive Profitability and Optimize Efficiency

MARKET AREA: BUILDING DENSITY IN ATTRACTIVE SOUTHEAST MARKETS

► Production Team: 46

► Loans: 58%

► Deposits: 60%

► ’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, market leaders, regional and divisional presidents responsible for meeting business production goals

2) Market loan and deposit percentages shown as a percentage of the total loans and deposits of SmartBank as of 6/30/26, respectively

3) 12/31/21 – 6/30/26 Compound Annualized Growth Rate based on market loan growth over the time period

Profile by Market Area: Abundant Organic Opportunity US Population Migration: Strong Migration into Great Markets 1,2,3

► Production Team: 30

► Loans: 27%

► Deposits: 32%

► ’21-’26 Growth: 25%

Alabama

► Production Team: 15

► Loans: 15%

► Deposits: 9%

► ’21-’26 Growth: 12%

Coastal

Projected Population CAGR through 2030

AMERICA’S TOP STATES

FOR BUSINESS 2026

N. CAROLINA: #2

GEORGIA: #7

FLORIDA: #8

TENNESSEE: #9

ALABAMA: #21

S. CAROLINA: #23

Knoxville Nashville

Huntsville

Pensacola

Birmingham

Tallahassee

Montgomery

Chattanooga

Mobile

Auburn

Dothan

Tuscaloosa

Panama City

>0.75%

0.75% to 0.50%

0.50% to 0.00%

<0.00%

Southeast Population Growth Expected to Continue

Columbus

Destin

$2,693

$3,254

$3,444

$3,906

$4,364

$4,518

$4,683

5.43%

5.86%

5.98%

5.93% 5.95%

5. 00%

5. 20%

5. 40%

5. 60%

5. 80%

6. 00%

6. 20%

6. 40%

$500

$1, 000

$1, 500

$2, 000

$2, 500

$3, 000

$3, 500

$4, 000

$4, 500

2021Y 2022Y 2023Y 2024Y 2025Y 1Q26 2Q26

23% 24% 23% 23% 23%

27% 27% 27% 28% 28%

19% 19% 19% 18% 18%

9% 9% 10% 11%

11%

19% 19%

19%

19% $4,124 $4,222

$4,364

$4,518

$4,683

2Q25 3Q25 4Q25 1Q26 2Q26

CRE, OO CRE, NOO C&I

C&D Consumer RE Leases & Other

LOAN PORTFOLIO: SOLID MARKETS PROVIDING OPPORTUNITY

Total Loans

CAGR of 13% Since 2021

$ in Millions, unless otherwise indicated

Average Loan Yield

(excluding accretion & fees)

Loan Composition

History of Consistent Organic Growth

1-4 Family

(NOO)

20%

Resi/Comm

Land Dev.

13%

Resi/Comm

Land

17%

CRE (OO)

19%

CRE (NOO)

17%

Multifamily

19%

Hotel &

Hospitality

32%

Retail

Space

11%

Office Space

15%

Misc.

15% 10

LOAN CONCENTRATION: WELL BALANCED EXPOSURE

Non-Owner Occupied CRE

Exposure By Segment

Highly Diversified with

Seasoned Client Base

Construction & Development

Exposure By Type1

Concentration Risk Closely Monitored

1) 1-4 Family (OO) includes owner-occupied primary and secondary residence construction loans; 1-4 Family (NOO) includes speculative and investment property residential construction loans; Resi/Comm Land Dev. includes primary, secondary, investment and

commercial land development loans; Resi/Comm Land includes residential and commercial improved and unimproved land loans; Multifamily includes 5 or more residential property loans; CRE (OO) includes construction loans for owner-occupied commercial

real estate including hotel & hospitality, retail, office, industrial & warehouse, self-storage and other commercial real estate; CRE (NOO) includes construction loans for non-owner occupied commercial real estate including hotel & hospitality, retail, office,

industrial & warehouse, self-storage and other commercial real estate

2) Amortized cost balance shown

$1.3 Billion2

- 28% of Total Loans $517 Million2

- 11% of Total Loans

$10,462

$12,543 $12,690

$15,055 $14,228

0.19% 0.22% 0.22% 0.25% 0.23%

- 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

2Q25 3Q25 4Q25 1Q26 2Q26

Nonperforming Loans and Leases OREO & Other Repos Nonperforming Assets / Total Assets

301%

271%

277%

288% 293%

78%

69% 71%

79% 83%

50%

100%

150%

200%

250%

150%

170%

190%

210%

230%

250%

270%

290%

310%

330%

350%

2Q25 3Q25 4Q25 1Q26 2Q26

CRE Loans / Capital C&D Loans / Capital $12,882

$15,728 $15,797 $15,975

$17,805

0.31% 0.37% 0.36% 0.35% 0.38%

- 0.10%

0.10%

0.30%

0.50%

0.70%

0.90%

1.10%

1.30%

1.50%

1.70%

$2, 000

$4, 000

$6, 000

$8, 000

$10, 000

$12, 000

$14, 000

$16, 000

$18, 000

$20, 000

$22, 000

$24, 000

2Q25 3Q25 4Q25 1Q26 2Q26

Total Delinquent & Nonaccrual Loans & Leases

Total Delinquent & Nonaccrual Loans & Leases / Total Loans & Leases

0.24% 0.25% 0.24% 0.25%

0.22%

0.01%

0.10%

0.18%

0.02%

0.05%

- 0.10%

0.00%

0.10%

0.20%

0.30%

0.40%

0.50%

2Q25 3Q25 4Q25 1Q26 2Q26 Classified Loans and Leases / Total Loans & Leases Net Chargeoffs

$39,776 $39,074

$40,906

$43,950 $45,252

0.96%

0.93% 0.94%

0.97% 0.97%

0.70%

0.80%

0.90%

1.00%

1.10%

1.20%

1.30%

1.40%

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

$26, 000

$28, 000

$30, 000

$32, 000

$34, 000

$36, 000

$38, 000

$40, 000

$42, 000

$44, 000

$46, 000

$48, 000

$50, 000

$52, 000

$54, 000

$56, 000

$58, 000

$60, 000

2Q25 3Q25 4Q25 1Q26 2Q26

Allowance for Credit Losses (ACL) ACL / Loans HFI

Credit Quality

Delinquent and Nonaccruals / Total Loans

Nonperforming Assets Commercial Real Estate Concentration

ASSET QUALITY: STRONG UNDERWRITING PAYS DIVIDENDS

$ in Thousands, unless otherwise indicated

Allowance Reconciliation

$4,022 $4,077

$4,268

$4,686

$5,153 $5,196

$5,386

2.00%

2.51%

2.36%

2.12% 2.15%

1. 40%

1. 90%

2. 40%

2. 90%

3. 40%

$1, 000

$2, 000

$3, 000

$4, 000

$5, 000

2021Y 2022Y 2023Y 2024Y 2025Y 1Q26 2Q26

19% 18% 21% 18% 17%

17% 18%

18% 18% 19%

44%

44% 47% 46%

20%

19%

17% 16% 18%

$4,872

$5,051 $5,153 $5,196

$5,386

2Q25 3Q25 4Q25 1Q26 2Q26

Noninterest Demand Interest-Bearing Demand

Money Market and Savings Time Deposits

DEPOSIT PORTFOLIO: DEFENDING DEPOSIT MARKET SHARE

Total Deposits

Loans to Deposits Ratio of 87%

$ in Millions, unless otherwise indicated

Average Total Deposit Cost

Deposit Composition

Focused on Core Relationship Growth

$78

$207

$98

$39

$129

$29

$89

$21

$50

$100

$150

$200

$250

$300

$350 UST/Agency MBS Fixed ARM CMO Fixed CMO Float Agen CMBS Small Bus Municipal Corporate 3.41% 3.44% 3.81% 3.78% 3.83%

2.50%

3.00%

3.50%

4.00%

4.50%

2Q25 3Q25 4Q25 1Q26 2Q26

Sec. Yield (AFS/HTM)

SECURITIES DETAIL: STRONG PORTFOLIO YIELD AND LIQUIDITY

$ in Millions, unless otherwise indicated

Portfolio Summary Weighted Average Portfolio Yield

Portfolio Mix by Book Value

Risk Averse Portfolio Designed for Liquidity

$697 Million Book Value

3.71% Book Yield

($30) Million Unrealized Loss

• ($17) Million in Available-for-Sale Securities (AFS)

• ($13) Million in Held-to-Maturity (HTM)

5.7 Year Average Life

4.1% Effective Duration

85% / 15% (AFS / HTM)

1) Based on the weighted average of the AFS & HTM securities portfolio. Yields related to investment securities exempt from income taxes are stated on a taxable-equivalent basis assuming a federal income tax rate of 21.0%

REPRICING SCHEDULE: YIELD ENHANCEMENT UNDERWAY

$534 Million in Fixed Rate Loans Yielding 4.97% Maturing by 2027 Year End

$164 Million in Adjustable-Rate Loans Yielding 4.95% Maturing or Repricing by 2027 Year End

FYE 2029 &

($ in millions) 3Q26 4Q26 1Q27 2Q27 3Q27 4Q27 2028 Beyond

Loan Repricing Schedule:

Fixed Rate Loans $ 120 $ 82 $ 91 $ 48 $ 85 $ 109 $ 264 $ 1,130

Weighted Average Yield 5.04% 4.45% 4.90% 5.01% 5.16% 5.17% 5.47% 5.80%

Adjustable Rate Loans $ 15 $ 41 $ 31 $ 36 $ 14 $ 28 $ 50 $ 477

Weighted Average Yield 4.47% 5.23% 4.91% 4.85% 4.71% 5.11% 6.02% 6.40%

Investment Cashflow Schedule:

Principal Cashflow $ 19 $ 15 $ 16 $ 15 $ 16 $ 16 $ 65 $ 544

Yield Roll-Off 4.03% 3.63% 3.72% 3.79% 3.73% 4.36% 3.75% 3.76%

Quarterly

Total Amount Net

Available Used Availability

Current On-Balance Sheet:

Cash & Cash Equiv. $379 $0 $379

Securities Eligible for Liquidity 680 351 329

Available Sources of Liquidity:

Fed Funds 121 0 121

FHLB 1,016 392 624

FRB 377 0 377

HC LoC 35 0 35

Total Liquidity $2,608 $743 $1,865

103% 100%

Peer Average SMBK

87% 87%

Peer Average SMBK

LIQUIDITY OVERVIEW: PRUDENTLY MANAGING LIQUIDITY

1) Peer average based on most recently reported period results for each peer; peers include major exchange traded banks in the Southeast with assets between $2.5 billion and $10.0 billion

2) Includes all securities available to be pledged as collateral or freely tradable; amount used represents total amount of securities pledged as collateral at quarter end

3) Federal Reserve Board discount window borrowing capacity shown as of 6/30/26

4) Uninsured deposits are defined as non-collateralized, non-reciprocal deposits above the FDIC deposit insurance limit

Source: S&P Global

Loan + Securities / Deposit Ratio

(Most Recent Quarter Period End)

Loan / Deposit Ratio

(Most Recent Quarter Period End)

Other Liquidity Sources

Access to a Variety of Funding

Robust Liquidity on Hand

$1.9 Billion in Untapped Liquidity Sources

$708 Million in On-Balance Sheet Liquidity

1.3x Liquidity to Uninsured Deposit Ratio4

1 1

$ in Millions, unless otherwise indicated

2Q25 3Q25 4Q25 1Q26 2Q26

Cash Yield 4.60% 4.56% 3.98% 3.66% 3.81%

Sec. Yield (AFS & HTM)1 3.41% 3.44% 3.81% 3.78% 3.83%

Loans (less Accr. & Fees) 5.99% 6.05% 6.00% 5.93% 5.95%

Loan Accr. & Fees 0.08% 0.09% 0.08% 0.09% 0.12%

Loan Yield (incl. Accr. & Fees) 6.07% 6.14% 6.08% 6.02% 6.07%

IE Asset Yield 5.65% 5.68% 5.65% 5.62% 5.70%

Net Interest Margin (FTE) 3.29% 3.25% 3.38% 3.48% 3.52%

$365

$557

$464

$346

$379

$627 $634

$662 $673 $680

11.4% 11.0% 11.3% 11.4% 11.1%

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

35.0%

40.0%

$100

$200

$300

$400

$500

$600

$700

$800

$900

2Q25 3Q25 4Q25 1Q26 2Q26

Cash and Cash Equiv. Securities (AFS/HTM) Securities (AFS/HTM) / Total Assets

$40,343

$42,430

$45,094

$45,876

$48,064

$8,902

$8,397

$8,219 $7,940

$7,832

$49,245

$50,827

$53,313 $53,816

$55,896

3.29%

3.25%

3.38%

3.48%

3.52%

$18, 000

$23, 000

$28, 000

$33, 000

$38, 000

$43, 000

$48, 000

$53, 000

3.00%

3.10%

3.20%

3.30%

3.40%

3.50%

3.60%

3.70%

3.80%

2Q25 3Q25 4Q25 1Q26 2Q26

Net Interest Income Operating Noninterest Income Net Interest Margin (FTE)

LIQUIDITY MANAGEMENT: MARGIN INFLECTION CONTINUES

Cash and Securities Margin / Operating Revenue2

1) Based on the weighted average of the AFS/HTM securities portfolio. Yields related to investment securities exempt from income taxes are stated on a taxable-equivalent basis assuming a federal income tax rate of 21.0%

2) Non-GAAP financial measure - for a reconciliation of Non-GAAP financial measures to their most directly comparable GAAP measures, see the Appendix

$ in Millions, unless otherwise indicated $ in Thousands, unless otherwise indicated

$(1,811), -0.9% $(1,682), -0.9%

$1,536 , 0.8% Interest Income % Change

Shock -200bps Shock -100bps Shock +100bps

$(1,204), -0.6% $(792), -0.4%

$848 , 0.4% Interest Income % Change

Ramp -200bps Ramp -100bps Ramp +100bps

41%

18%

41%

Fixed Rate LT Variable ST Variable

INTEREST RATE SENSITIVITY

Fixed vs. Variable Rate Loans Static Shock / Rate Ramp Analysis1

1) Based on 12-month static rate shock and ramp analysis as of 6/30/26. These estimates of changes in SmartFinancial’s net interest income require us to make certain assumptions including loan and mortgage-related investment prepayment speeds,

reinvestment rate, deposit maturities and decay rates. These assumptions are inherently uncertain and, as a result, we cannot precisely predict the impact of changes in interest rates on net interest income. Although our analysis provides an indication of

our interest rate risk exposure at a particular point in time, such estimates are not intended to, and do not, provide a precise forecast of the effect of changes in market interest rates and will differ from actual results

$1.9 Billion Fixed Rate Loans

$2.8 Billion Variable Rate Loans

• $1.9 Billion Short-Term Variable Rate (Resetting within 1 - 3 Months)

• $851 Million Long-Term Variable Rate (Resets > 3 Months)

$ in Millions, unless otherwise indicated $ in Thousands, unless otherwise indicated

$8,902

$8,397 $8,219

$7,940 $7,832

2Q25 3Q25 4Q25 1Q26 2Q26

Other Noninterest Income Mortgage Banking Income

Investment Services Income Interchange Fees

Service Charges on Deposit Accounts Insurance Commissions

REVENUE DIVERSIFICATION: LINE OF BUSINESS & FEE INCOME EXPANSION

Operating Noninterest Income1

Focused on Recurring Fee Income

1) Non-GAAP financial measure - for a reconciliation of Non-GAAP financial measures to their most directly comparable GAAP measures, see the Appendix

Differentiated Revenue Streams

Building a Family of Diversified Revenue Generators

$ in Thousands, unless otherwise indicated

$7,348 $7,348

Operating Noninterest Income Excluding Insurance Commissions

Wealth & Private Banking

~$1.6 Billion in Assets Under Management

Treasury Management

>$700 Million in Analyzed Deposits

Floor Plan Lending

~$285 Million in Commitments

Mortgage Banking

$35 Million in 2026 Q2 Secondary Production

Equipment Finance

$135 Million in Outstanding Loans and Leases

66%

64%

60% 61% 60%

2Q25 3Q25 4Q25 1Q26 2Q26

Operating Efficiency Ratio

$32,569 $32,559 $32,455 $32,915

$33,955

2Q25 3Q25 4Q25 1Q26 2Q26

Salaries & Benefits Occupancy & Equipment

Data Processing & Technology Professional Services

Amortization of Intangibles Other Noninterest Expense

1) Non-GAAP financial measure - for a reconciliation of Non-GAAP financial measures to their most directly comparable GAAP measures, see the Appendix

OPERATING EXPENSE: FOCUS ON EXPENSE CONTAINMENT

Operating Efficiency Ratio1 Operating Noninterest Expense1

$ in Thousands, unless otherwise indicated

$19.26 $19.09

$20.76

$22.85

$26.85

$28.22

$19.17

$21.18

$22.29

$24.25

$27.39

$28.98

$15. 00

$17. 00

$19. 00

$21. 00

$23. 00

$25. 00

$27. 00

$29. 00

$31. 00

2021Y 2022Y 2023Y 2024Y 2025Y 2Q26

TBVPCS Adj. TBVPCS (Excl. AOCI)

7.7% 7.8% 7.9% 8.0% 8.0%

2Q25 3Q25 4Q25 1Q26 2Q26

9.7% 9.9% 9.8% 9.8% 9.8%

2Q25 3Q25 4Q25 1Q26 2Q26

8.3% 8.2% 8.3% 8.4% 8.5%

2Q25 3Q25 4Q25 1Q26 2Q26

11.1%

13.3%

12.7% 12.7% 12.6%

2Q25 3Q25 4Q25 1Q26 2Q26

CAPITAL: WELL CAPITALIZED – BUILDING BOOK VALUE

1) Non-GAAP financial measure - for a reconciliation of Non-GAAP financial measures to their most directly comparable GAAP measures, see the Appendix 20

Note: Capital ratio data as of the most recent period ended 6/30/26

TCE / TA1

CET1 Ratio Total Capital Ratio

Leverage Ratio

Basel III Regulatory Capital Minimum To Be Considered “Well Capitalized”

Building Shareholder Value

Tangible Book Value Per Common Share (TBVPCS)1

$9.81 TBVPCS1 Created 2021 – 2026

(Excluding Accumulated Other Comprehensive Income)

$0.09 2026 Per Share Quarterly Dividend

Well

Capitalized

10%

Well

Capitalized

6.5%

Well

Capitalized

1 1

WHY SMARTBANK: INVESTMENT HIGHLIGHTS

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 Book Value and Delivering Shareholder Value

APPENDIX

1Q26 2Q25

($ in thousands, except per share data) 2Q26 1Q26 2Q25 % Chg. % Chg.

Net Interest Income $ 48,064 $ 45,876 $ 40,343 5% 19%

Provision for Credit Losses 1,463 4,139 2,411

Noninterest Income 7,886 7,941 8,898 (1%) (11%)

Noninterest Expense 33,955 32,915 32,569 3% 4%

Income Tax Expense 4,210 3,083 2,556

Net Income (GAAP) $ 16,322 $ 13,680 $ 11,705 19% 39%

Non-GAAP Reconciliations

Noninterest Income (54) (1) 4

Noninterest Expense - - -

Income Tax Effect Of Adjustments 14 0 (1)

Operating Earnings (Non-GAAP) $ 16,282 $ 13,679 $ 11,708 19% 39%

Operating PPNR Earnings (Non-GAAP) $ 21,941 $ 20,901 $ 16,676 5% 32%

1Q26 2Q25

Non-GAAP Performance Metrics 2Q26 1Q26 2Q25 % Chg. % Chg.

Diluted Operating Earnings Per Share $ 0.96 $ 0.81 $ 0.69 18% 38%

Tangible Book Value Per Common Share $ 28.22 $ 27.33 $ 24.42 3% 16%

Operating Return on Average Assets 1.10% 0.96% 0.88%

Operating PPNR Return on Average Assets 1.48% 1.47% 1.25%

Operating Return on Average Tang. Common Equity 13.7% 11.9% 11.5%

Operating Efficiency Ratio 60.4% 60.7% 65.7%

2Q26 vs.

Note: For a reconciliation of Non-GAAP financial measures to their most directly comparable GAAP measures, see the Appendix; percentage change may differ due to rounding

INCOME STATEMENT: DETAILED SECOND QUARTER RESULTS

NON-GAAP RECONCILIATION

$ in Thousands, unless otherwise indicated

1. Operating return on average assets (Non-GAAP) is the annualized operating earnings (Non-GAAP) divided by average assets.

2. Operating PPNR return on average assets (Non-GAAP) is the annualized operating PPNR earnings (Non-GAAP) divided by average assets.

3. Return on average tangible common equity (Non-GAAP) is the annualized net income divided by average tangible common equity (Non-GAAP).

4. Operating return on average shareholders’ equity (Non-GAAP) is the annualized operating earnings (Non-GAAP) divided by average shareholder equity.

5. Operating return on average tangible common equity (Non-GAAP) is the annualized operating earnings (Non-GAAP) divided by average tangible common equity (Non-GAAP).

Note: Totals may not add due to rounding

2Q26 1Q26 4Q25 3Q25 2Q25 1Q25 4Q24 3Q24

Operating Earnings

Net Income (GAAP) $ 16,322 $ 13,680 $ 13,703 $ 13,686 $ 11,705 $ 11,254 $ 9,640 $ 9,140

Noninterest Income:

Securities (Gains) Losses (54) (1) - 3,715 4 - (64) -

Gain on Sale of Branch Building - - - - - - - -

Gain on Sale of SBKI - - - (3,955) - - - -

Noninterest Expenses:

Donation of a Former Branch Location - - - - - - - -

Accruals For Pending Litigation - - - - - - - -

Merger Related And Restructuring Expenses - - 16 1,310 - - - -

Income Taxes:

Income Tax Effect Of Adjustments 14 0 (4) (276) (1) - 17 -

Operating Earnings (Non-GAAP) $ 16,282 $ 13,679 $ 13,715 $ 14,480 $ 11,708 $ 11,254 $ 9,593 $ 9,140

Operating Earnings Per Common Share (Non-GAAP):

Basic $ 0.97 $ 0.81 $ 0.82 $ 0.86 $ 0.70 $ 0.67 $ 0.57 $ 0.55

Diluted 0.96 0.81 0.81 0.86 0.69 0.67 0.57 0.54

Operating Noninterest Income

Noninterest Income (GAAP) $ 7,886 $ 7,941 $ 8,219 $ 8,637 $ 8,898 $ 8,597 $ 9,030 $ 9,139

Securities (Gains) Losses (54) (1) - 3,715 4 - (64) -

Gain on Sale of Branch Building - - - - - - - -

Gain on Sale of SBKI - - - (3,955) - - - -

Operating Noninterest Income (Non-GAAP) $ 7,832 $ 7,940 $ 8,219 $ 8,397 $ 8,902 $ 8,597 $ 8,966 $ 9,139

Operating Noninterest Expense

Noninterest Expense (GAAP) $ 33,955 $ 32,915 $ 32,471 $ 33,869 $ 32,569 $ 32,296 $ 32,291 $ 30,846

Donation of a Former Branch Location - - - - - - - -

Accruals For Pending Litigation - - - - - - - -

Merger Related And Restructuring Expenses - - (16) (1,310) - - - -

Operating Noninterest Expense (Non-GAAP) $ 33,955 $ 32,915 $ 32,455 $ 32,559 $ 32,569 $ 32,296 $ 32,291 $ 30,846

Operating Revenue

Net Interest Income (GAAP) $ 48,064 $ 45,876 $ 45,094 $ 42,430 $ 40,343 $ 38,238 $ 37,783 $ 35,032

Operating Noninterest Income (Non-GAAP) 7,832 7,940 8,219 8,397 8,902 8,597 8,966 9,139

Operating Revenue (Non-GAAP) 55,896 53,816 53,313 50,827 49,245 46,835 46,749 44,171

Operating Pre-Provision Net Revenue ("PPNR") Earnings

Operating Revenue (Non-GAAP) $ 55,896 $ 53,816 $ 53,313 $ 50,827 $ 49,245 $ 46,835 $ 46,749 $ 44,171

Operating Noninterest Expense (Non-GAAP) (33,955) (32,915) (32,455) (32,559) (32,569) (32,296) (32,291) (30,846)

Operating PPNR Earnings (Non-GAAP) $ 21,941 $ 20,901 $ 20,858 $ 18,268 $ 16,676 $ 14,539 $ 14,458 $ 13,325

Non-GAAP Return Ratios

Operating Return On Average Assets (Non-GAAP)(1) 1.10% 0.96% 0.95% 1.02% 0.88% 0.87% 0.75% 0.74%

Operating PPNR Return On Average Assets (Non-GAAP)(2) 1.48% 1.47% 1.44% 1.29% 1.25% 1.12% 1.13% 1.08%

Return On Average Tangible Common Equity (Non-GAAP)(3) 13.74% 11.93% 12.06% 12.79% 11.53% 11.60% 9.99% 9.75%

Operating Return On Average Shareholders' Equity (Non-GAAP)(4) 11.43% 9.90% 9.96% 10.92% 9.19% 9.17% 7.80% 7.60%

Operating Return On Average Tangible Common Equity (Non-GAAP)(5) 13.70% 11.93% 12.07% 13.53% 11.53% 11.60% 9.94% 9.75%

Operating Efficiency Ratio

Efficiency Ratio (GAAP) 60.69% 61.16% 60.91% 66.32% 66.14% 68.96% 68.98% 69.83%

Adjustment For Taxable Equivalent Yields (0.38%) (0.41%) (0.43%) (0.47%) (0.47%) (0.50%) (0.49%) (0.55%)

Adjustment For Securities (Gains) Losses 0.07% - - (4.50%) (0.01%) - 0.09% -

Adjustment For Sale of Branch Building - - - - - - - -

Adjustment For Sale of SBKI / Donation of a Former Branch Location - - - 5.57% - - - -

Adjustment For Accruals For Pending Litigation - - - - - - - -

Adjustment For Merger Expenses - - (0.02%) (3.31%) - - - -

Operating Efficiency Ratio (Non-GAAP) 60.38% 60.75% 60.45% 63.61% 65.66% 68.46% 68.58% 69.28%

NON-GAAP RECONCILIATION

$ in Thousands, unless otherwise indicated

1. Operating return on average assets (Non-GAAP) is the annualized operating earnings (Non-GAAP) divided by average assets.

2. Operating PPNR return on average assets (Non-GAAP) is the annualized operating PPNR earnings (Non-GAAP) divided by average assets.

3. Return on average tangible common equity (Non-GAAP) is the annualized net income divided by average tangible common equity (Non-GAAP).

4. Operating return on average shareholders’ equity (Non-GAAP) is the annualized operating earnings (Non-GAAP) divided by average shareholder equity.

5. Operating return on average tangible common equity (Non-GAAP) is the annualized operating earnings (Non-GAAP) divided by average tangible common equity (Non-GAAP).

Note: Totals may not add due to rounding

2Q24 1Q24 4Q23 3Q23 2Q23 1Q23 4Q22 3Q22

Operating Earnings

Net Income (GAAP) $ 8,003 $ 9,358 $ 6,190 $ 2,067 $ 8,836 $ 11,500 $ 13,004 $ 11,543

Noninterest Income:

Securities (Gains) Losses - - - 6,801 - - (144) -

Gain on Sale of Branch Building (283) (1,346) - - - - - -

Gain on Sale of SBKI - - - - - - - -

Noninterest Expenses:

Donation of a Former Branch Location - - 250 - - - - -

Accruals For Pending Litigation - - 675 - - - - -

Merger Related And Restructuring Expenses - - - 110 - - (45) 87

Income Taxes:

Income Tax Effect Of Adjustments 73 348 (239) (1,785) - - 49 (22)

Operating Earnings (Non-GAAP) $ 7,793 $ 8,360 $ 6,876 $ 7,193 $ 8,836 $ 11,500 $ 12,864 $ 11,608

Operating Earnings Per Common Share (Non-GAAP):

Basic $ 0.47 $ 0.50 $ 0.41 $ 0.43 $ 0.53 $ 0.69 $ 0.77 $ 0.69

Diluted 0.46 0.49 0.41 0.43 0.52 0.68 0.76 0.69

Operating Noninterest Income

Noninterest Income (GAAP) $ 7,604 $ 8,380 $ 7,579 $ 691 $ 7,130 $ 6,925 $ 7,125 $ 6,250

Securities (Gains) Losses - - - 6,801 - - (144) -

Gain on Sale of Branch Building (283) (1,346) - - - - - -

Gain on Sale of SBKI - - - - - - - -

Operating Noninterest Income (Non-GAAP) $ 7,321 $ 7,034 $ 7,579 $ 7,492 $ 7,130 $ 6,925 $ 6,981 $ 6,250

Operating Noninterest Expense

Noninterest Expense (GAAP) $ 29,201 $ 28,553 $ 29,695 $ 28,516 $ 27,410 $ 27,529 $ 27,416 $ 27,230

Donation of a Former Branch Location - - (250) - - - - -

Accruals For Pending Litigation - - (675) - - - - -

Merger Related And Restructuring Expenses - - - (110) - - 45 (87)

Operating Noninterest Expense (Non-GAAP) $ 29,201 $ 28,553 $ 28,770 $ 28,406 $ 27,410 $ 27,529 $ 27,461 $ 27,143

Operating Revenue

Net Interest Income (GAAP) $ 32,814 $ 31,721 $ 31,517 $ 31,006 $ 31,575 $ 35,982 $ 37,612 $ 36,708

Operating Noninterest Income (Non-GAAP) 7,321 7,034 7,579 7,492 7,130 6,925 6,981 6,250

Operating Revenue (Non-GAAP) 40,135 38,755 39,096 38,498 38,705 42,907 44,593 42,958

Operating Pre-Provision Net Revenue ("PPNR") Earnings

Operating Revenue (Non-GAAP) $ 40,135 $ 38,755 $ 39,096 $ 38,498 $ 38,705 $ 42,907 $ 44,593 $ 42,958

Operating Noninterest Expense (Non-GAAP) (29,201) (28,553) (28,770) (28,406) (27,410) (27,529) (27,461) (27,143)

Operating PPNR Earnings (Non-GAAP) $ 10,934 $ 10,202 $ 10,326 $ 10,092 $ 11,295 $ 15,378 $ 17,132 $ 15,815

Non-GAAP Return Ratios

Operating Return On Average Assets (Non-GAAP)(1) 0.64% 0.69% 0.57% 0.60% 0.75% 0.97% 1.10% 0.96%

Operating PPNR Return On Average Assets (Non-GAAP)(2) 0.90% 0.84% 0.86% 0.84% 0.96% 1.30% 1.46% 1.30%

Return On Average Tangible Common Equity (Non-GAAP)(3) 8.94% 10.62% 7.18% 2.43% 10.57% 14.45% 16.65% 14.36%

Operating Return On Average Shareholders' Equity (Non-GAAP)(4) 6.72% 7.29% 6.07% 6.41% 7.98% 10.79% 12.15% 10.83%

Operating Return On Average Tangible Common Equity (Non-GAAP)(5) 8.70% 9.49% 7.98% 8.46% 10.57% 14.45% 16.47% 14.44%

Operating Efficiency Ratio

Efficiency Ratio (GAAP) 72.25% 71.20% 75.95% 89.96% 70.82% 64.16% 61.28% 63.39%

Adjustment For Taxable Equivalent Yields (0.63%) (0.17%) (0.18%) (0.27%) (0.18%) (0.14%) (0.22%) (0.25%)

Adjustment For Securities (Gains) Losses - - - (15.89%) - - 0.20% -

Adjustment For Sale of Branch Building 0.51% 2.46% - - - - - -

Adjustment For Sale of SBKI / Donation of a Former Branch Location - - (0.64%) - - - - -

Adjustment For Accruals For Pending Litigation - - (1.72%) - - - - -

Adjustment For Merger Expenses - - - (0.20%) - - 0.10% (0.21%)

Operating Efficiency Ratio (Non-GAAP) 72.13% 73.50% 73.41% 73.60% 70.64% 64.02% 61.36% 62.93%

NON-GAAP RECONCILIATION

1. Tangible book value per share (Non-GAAP) is computed by dividing total stockholder’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

2Q26 1Q26 4Q25 3Q25 2Q25 1Q25 4Q24 3Q24

Tangible Common Equity:

Shareholders' Equity (GAAP) $ 576,924 $ 562,161 $ 552,492 $ 538,482 $ 519,127 $ 505,941 $ 491,461 $ 489,023

Less Goodwill And Other Intangible Assets 94,417 94,871 95,328 95,807 103,588 104,154 104,723 105,324

Tangible Common Equity (Non-GAAP) $ 482,507 $ 467,290 $ 457,164 $ 442,675 $ 415,539 $ 401,787 $ 386,738 $ 383,699

Average Tangible Common Equity:

Average Shareholders' Equity (GAAP) $ 571,349 $ 560,348 $ 546,489 $ 525,829 $ 511,067 $ 497,980 $ 489,172 $ 478,642

Less Goodwill And Other Intangible Assets 94,696 95,145 95,619 101,326 103,936 104,504 105,093 105,701

Average Tangible Common Equity (Non-GAAP) $ 476,653 $ 465,203 $ 450,870 $ 424,503 $ 407,131 $ 393,476 $ 384,079 $ 372,941

Tangible Book Value Per Common Share:

Book Value Per Common Share (GAAP) $ 33.74 $ 32.88 $ 32.44 $ 31.62 $ 30.51 $ 29.73 $ 29.04 $ 28.89

Adjustment Due To Goodwill And Other Intangible Assets (5.52) (5.55) (5.59) (5.63) (6.09) (6.12) (6.19) (6.22)

Tangible Book Value Per Common Share (Non-GAAP)(1) $ 28.22 $ 27.33 $ 26.85 $ 26.00 $ 24.42 $ 23.61 $ 22.85 $ 22.67

Tangible Common Equity To Tangible Assets:

Total Assets (GAAP) $ 6,115,306 $ 5,907,685 $ 5,860,810 $ 5,784,983 $ 5,490,863 $ 5,411,217 $ 5,275,904 $ 4,908,934

Less Goodwill And Other Intangibles 94,417 94,871 95,328 95,807 103,588 104,154 104,723 105,324

Tangible Assets (Non-GAAP) $ 6,020,889 $ 5,812,814 $ 5,765,482 $ 5,689,176 $ 5,387,275 $ 5,307,063 $ 5,171,181 $ 4,803,610

Tangible Common Equity To Tangible Assets (Non-GAAP): 8.01% 8.04% 7.93% 7.78% 7.71% 7.57% 7.48% 7.99%

2Q24 1Q24 4Q23 3Q23 2Q23 1Q23 4Q22 3Q22

Tangible Common Equity:

Shareholders' Equity (GAAP) $ 472,465 $ 466,796 $ 459,886 $ 446,652 $ 444,847 $ 443,399 $ 432,452 $ 414,711

Less Goodwill And Other Intangible Assets 105,929 106,537 107,148 107,792 108,439 109,114 109,772 110,460

Tangible Common Equity (Non-GAAP) $ 366,536 $ 360,259 $ 352,738 $ 338,860 $ 336,408 $ 334,285 $ 322,680 $ 304,251

Average Tangible Common Equity:

Average Shareholders' Equity (GAAP) $ 466,371 $ 461,148 $ 449,526 $ 445,432 $ 444,283 $ 432,382 $ 420,037 $ 425,365

Less Goodwill And Other Intangible Assets 106,301 106,920 107,551 108,194 108,851 109,537 110,206 106,483

Average Tangible Common Equity (Non-GAAP) $ 360,070 $ 354,228 $ 341,975 $ 337,238 $ 335,432 $ 322,845 $ 309,831 $ 318,882

Tangible Book Value Per Common Share:

Book Value Per Common Share (GAAP) $ 27.91 $ 27.37 $ 27.07 $ 26.28 $ 26.16 $ 26.08 $ 25.59 $ 24.56

Adjustment Due To Goodwill And Other Intangible Assets (6.25) (6.25) (6.31) (6.34) (6.38) (6.42) (6.50) (6.54)

Tangible Book Value Per Common Share (Non-GAAP)(1) $ 21.66 $ 21.12 $ 20.76 $ 19.94 $ 19.78 $ 19.66 $ 19.09 $ 18.02

Tangible Common Equity To Tangible Assets:

Total Assets (GAAP) $ 4,891,009 $ 4,954,690 $ 4,829,387 $ 4,797,171 $ 4,745,800 $ 4,769,805 $ 4,637,498 $ 4,796,911

Less Goodwill And Other Intangibles 105,929 106,537 107,148 107,792 108,439 109,114 109,772 110,460

Tangible Assets (Non-GAAP) $ 4,785,080 $ 4,848,153 $ 4,722,239 $ 4,689,379 $ 4,637,361 $ 4,660,691 $ 4,527,726 $ 4,686,451

Tangible Common Equity To Tangible Assets (Non-GAAP): 7.66% 7.43% 7.47% 7.23% 7.25% 7.17% 7.13% 6.49%

NON-GAAP RECONCILIATION

1. Tangible book value per share (Non-GAAP) is computed by dividing total stockholder’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

2Q24 1Q24 4Q23 3Q23 2Q23 1Q23 4Q22 3Q22

Tangible Common Equity (Excluding AOCI):

Shareholders' Equity (GAAP) $ 472,465 $ 466,796 $ 459,886 $ 446,652 $ 444,847 $ 443,399 $ 432,452 $ 414,711

Less Goodwill And Other Intangible Assets 105,929 106,537 107,148 107,792 108,439 109,114 109,772 110,460

Tangible Common Equity (Non-GAAP) $ 366,536 $ 360,259 $ 352,738 $ 338,860 $ 336,408 $ 334,285 $ 322,680 $ 304,251

Less Adjustment Due to AOCI (Loss) (25,798) (27,425) (25,907) (34,156) (35,017) (28,620) (35,324) (40,807)

Tangible Common Equity (Excl. AOCI) (Non-GAAP) $ 392,334 $ 387,684 $ 378,645 $ 373,016 $ 371,425 $ 362,905 $ 358,004 $ 345,058

Tangible Book Value Per Common Share (Excluding AOCI):

Book Value Per Common Share (GAAP) $ 27.91 $ 27.37 $ 27.07 $ 26.28 $ 26.16 $ 26.08 $ 25.59 $ 24.56

Adjustment Due To Goodwill And Other Intangible Assets (6.25) (6.25) (6.31) (6.34) (6.38) (6.42) (6.50) (6.54)

Tangible Book Value Per Common Share (Non-GAAP)(1) $ 21.66 $ 21.12 $ 20.76 $ 19.94 $ 19.78 $ 19.66 $ 19.09 $ 18.02

Less Adjustment Due to AOCI (Loss) (1.52) (1.61) (1.52) (2.01) (2.06) (1.68) (2.09) (2.42)

Tangible Book Value Per Common Share (Excl. AOCI) (Non-GAAP) $ 23.18 $ 22.73 $ 22.29 $ 21.95 $ 21.84 $ 21.34 $ 21.18 $ 20.43

2Q26 1Q26 4Q25 3Q25 2Q25 1Q25 4Q24 3Q24

Tangible Common Equity (Excluding AOCI):

Shareholders' Equity (GAAP) $ 576,924 $ 562,161 $ 552,492 $ 538,482 $ 519,127 $ 505,941 $ 491,461 $ 489,023

Less Goodwill And Other Intangible Assets 94,417 94,871 95,328 95,807 103,588 104,154 104,723 105,324

Tangible Common Equity (Non-GAAP) $ 482,507 $ 467,290 $ 457,164 $ 442,675 $ 415,539 $ 401,787 $ 386,738 $ 383,699

Less Adjustment Due to AOCI (Loss) (12,941) (12,366) (9,319) (10,781) (17,274) (19,647) (23,671) (17,349)

Tangible Common Equity (Excl. AOCI) (Non-GAAP) $ 495,448 $ 479,656 $ 466,483 $ 453,456 $ 432,813 $ 421,434 $ 410,409 $ 401,048

Tangible Book Value Per Common Share (Excluding AOCI):

Book Value Per Common Share (GAAP) $ 33.74 $ 32.88 $ 32.44 $ 31.62 $ 30.51 $ 29.73 $ 29.04 $ 28.89

Adjustment Due To Goodwill And Other Intangible Assets (5.52) (5.55) (5.59) (5.63) (6.09) (6.12) (6.19) (6.22)

Tangible Book Value Per Common Share (Non-GAAP)(1) $ 28.22 $ 27.33 $ 26.85 $ 26.00 $ 24.42 $ 23.61 $ 22.85 $ 22.67

Less Adjustment Due to AOCI (Loss) (0.76) (0.72) (0.55) (0.63) (1.02) (1.15) (1.40) (1.02)

Tangible Book Value Per Common Share (Excl. AOCI) (Non-GAAP) $ 28.98 $ 28.05 $ 27.39 $ 26.63 $ 25.43 $ 24.76 $ 24.25 $ 23.69

NON-GAAP RECONCILIATION

1. Tangible book value per share (Non-GAAP) is computed by dividing total stockholder’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

2Q26 2025Y 2024Y 2023Y 2022Y 2021Y

Tangible Common Equity (Excluding AOCI):

Shareholders' Equity (GAAP) $ 576,924 $ 552,492 $ 491,461 $ 459,886 $ 432,452 $ 429,430

Less Goodwill And Other Intangible Assets 94,417 95,328 104,723 107,148 109,772 105,852

Tangible Common Equity (Non-GAAP) $ 482,507 $ 457,164 $ 386,738 $ 352,738 $ 322,680 $ 323,578

Less Adjustment Due to AOCI (Loss) (12,941) (9,319) (23,671) (25,907) (35,324) 1,443

Tangible Common Equity (Excl. AOCI) (Non-GAAP) $ 495,448 $ 466,483 $ 410,409 $ 378,645 $ 358,004 $ 322,135

Tangible Book Value Per Common Share (Excluding AOCI):

Book Value Per Common Share (GAAP) $ 33.74 $ 32.44 $ 29.04 $ 27.07 $ 25.59 $ 25.56

Adjustment Due To Goodwill And Other Intangible Assets (5.52) (5.59) (6.19) (6.31) (6.50) (6.30)

Tangible Book Value Per Common Share (Non-GAAP)(1) $ 28.22 $ 26.85 $ 22.85 $ 20.76 $ 19.09 $ 19.26

Less Adjustment Due to AOCI (Loss) (0.76) (0.55) (1.40) (1.52) (2.09) 0.09

Tangible Book Value Per Common Share (Excl. AOCI) (Non-GAAP) $ 28.98 $ 27.39 $ 24.25 $ 22.29 $ 21.18 $ 19.17

CONTACT

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

GRAPHIC

Filename: smbk-20260720xex99d1002.jpg · Sequence: 4

Binary file (4323 bytes)

Download smbk-20260720xex99d1002.jpg

GRAPHIC

Filename: smbk-20260720xex99d1003.jpg · Sequence: 5

Binary file (13494 bytes)

Download smbk-20260720xex99d1003.jpg

GRAPHIC

Filename: smbk-20260720xex99d2g001.jpg · Sequence: 6

Binary file (179421 bytes)

Download smbk-20260720xex99d2g001.jpg

GRAPHIC

Filename: smbk-20260720xex99d2g002.jpg · Sequence: 7

Binary file (211489 bytes)

Download smbk-20260720xex99d2g002.jpg

GRAPHIC

Filename: smbk-20260720xex99d2g003.jpg · Sequence: 8

Binary file (124964 bytes)

Download smbk-20260720xex99d2g003.jpg

GRAPHIC

Filename: smbk-20260720xex99d2g004.jpg · Sequence: 9

Binary file (110278 bytes)

Download smbk-20260720xex99d2g004.jpg

GRAPHIC

Filename: smbk-20260720xex99d2g005.jpg · Sequence: 10

Binary file (144411 bytes)

Download smbk-20260720xex99d2g005.jpg

GRAPHIC

Filename: smbk-20260720xex99d2g006.jpg · Sequence: 11

Binary file (143396 bytes)

Download smbk-20260720xex99d2g006.jpg

GRAPHIC

Filename: smbk-20260720xex99d2g007.jpg · Sequence: 12

Binary file (122401 bytes)

Download smbk-20260720xex99d2g007.jpg

GRAPHIC

Filename: smbk-20260720xex99d2g008.jpg · Sequence: 13

Binary file (133155 bytes)

Download smbk-20260720xex99d2g008.jpg

GRAPHIC

Filename: smbk-20260720xex99d2g009.jpg · Sequence: 14

Binary file (94010 bytes)

Download smbk-20260720xex99d2g009.jpg

GRAPHIC

Filename: smbk-20260720xex99d2g010.jpg · Sequence: 15

Binary file (116699 bytes)

Download smbk-20260720xex99d2g010.jpg

GRAPHIC

Filename: smbk-20260720xex99d2g011.jpg · Sequence: 16

Binary file (110746 bytes)

Download smbk-20260720xex99d2g011.jpg

GRAPHIC

Filename: smbk-20260720xex99d2g012.jpg · Sequence: 17

Binary file (99928 bytes)

Download smbk-20260720xex99d2g012.jpg

GRAPHIC

Filename: smbk-20260720xex99d2g013.jpg · Sequence: 18

Binary file (100573 bytes)

Download smbk-20260720xex99d2g013.jpg

GRAPHIC

Filename: smbk-20260720xex99d2g014.jpg · Sequence: 19

Binary file (99478 bytes)

Download smbk-20260720xex99d2g014.jpg

GRAPHIC

Filename: smbk-20260720xex99d2g015.jpg · Sequence: 20

Binary file (111949 bytes)

Download smbk-20260720xex99d2g015.jpg

GRAPHIC

Filename: smbk-20260720xex99d2g016.jpg · Sequence: 21

Binary file (113157 bytes)

Download smbk-20260720xex99d2g016.jpg

GRAPHIC

Filename: smbk-20260720xex99d2g017.jpg · Sequence: 22

Binary file (95809 bytes)

Download smbk-20260720xex99d2g017.jpg

GRAPHIC

Filename: smbk-20260720xex99d2g018.jpg · Sequence: 23

Binary file (140111 bytes)

Download smbk-20260720xex99d2g018.jpg

GRAPHIC

Filename: smbk-20260720xex99d2g019.jpg · Sequence: 24

Binary file (75646 bytes)

Download smbk-20260720xex99d2g019.jpg

GRAPHIC

Filename: smbk-20260720xex99d2g020.jpg · Sequence: 25

Binary file (101987 bytes)

Download smbk-20260720xex99d2g020.jpg

GRAPHIC

Filename: smbk-20260720xex99d2g021.jpg · Sequence: 26

Binary file (110737 bytes)

Download smbk-20260720xex99d2g021.jpg

GRAPHIC

Filename: smbk-20260720xex99d2g022.jpg · Sequence: 27

Binary file (34449 bytes)

Download smbk-20260720xex99d2g022.jpg

GRAPHIC

Filename: smbk-20260720xex99d2g023.jpg · Sequence: 28

Binary file (110985 bytes)

Download smbk-20260720xex99d2g023.jpg

GRAPHIC

Filename: smbk-20260720xex99d2g024.jpg · Sequence: 29

Binary file (136823 bytes)

Download smbk-20260720xex99d2g024.jpg

GRAPHIC

Filename: smbk-20260720xex99d2g025.jpg · Sequence: 30

Binary file (137174 bytes)

Download smbk-20260720xex99d2g025.jpg

GRAPHIC

Filename: smbk-20260720xex99d2g026.jpg · Sequence: 31

Binary file (189175 bytes)

Download smbk-20260720xex99d2g026.jpg

GRAPHIC

Filename: smbk-20260720xex99d2g027.jpg · Sequence: 32

Binary file (171587 bytes)

Download smbk-20260720xex99d2g027.jpg

GRAPHIC

Filename: smbk-20260720xex99d2g028.jpg · Sequence: 33

Binary file (106164 bytes)

Download smbk-20260720xex99d2g028.jpg

GRAPHIC

Filename: smbk-20260720xex99d2g029.jpg · Sequence: 34

Binary file (50094 bytes)

Download smbk-20260720xex99d2g029.jpg

XML — IDEA: XBRL DOCUMENT

XML

Filename: R1.htm · Sequence: 39

v3.26.1

Document and Entity Information

Jul. 20, 2026

Document and Entity Information [Abstract]

Document Type

8-K

Document Period End Date

Jul. 20, 2026

Entity File Number

001-37661

Entity Registrant Name

SMARTFINANCIAL, INC.

Entity Incorporation, State or Country Code

Entity Tax Identification Number

62-1173944

Entity Address, Address Line One

5401 Kingston Pike

Entity Address, Adress Line Two

Suite 600

Entity Address, City or Town

Knoxville

Entity Address, State or Province

Entity Address, Postal Zip Code

37919

City Area Code

865

Local Phone Number

437-5700

Written Communications

false

Soliciting Material

false

Pre-commencement Tender Offer

false

Pre-commencement Issuer Tender Offer

false

Title of 12(b) Security

Common Stock, par value $1.00

Trading Symbol

SMBK

Security Exchange Name

NYSE

Entity Emerging Growth Company

false

Entity Central Index Key

0001038773

Amendment Flag

false

- Definition

Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.

+ References

No definition available.

+ Details

Name:

dei_AmendmentFlag

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Area code of city

+ References

No definition available.

+ Details

Name:

dei_CityAreaCode

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Cover page.

+ References

No definition available.

+ Details

Name:

dei_CoverAbstract

Namespace Prefix:

dei_

Data Type:

xbrli:stringItemType

Balance Type:

Period Type:

duration

- Definition

For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.

+ References

No definition available.

+ Details

Name:

dei_DocumentPeriodEndDate

Namespace Prefix:

dei_

Data Type:

xbrli:dateItemType

Balance Type:

Period Type:

duration

- Definition

The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.

+ References

No definition available.

+ Details

Name:

dei_DocumentType

Namespace Prefix:

dei_

Data Type:

dei:submissionTypeItemType

Balance Type:

Period Type:

duration

- Definition

Address Line 1 such as Attn, Building Name, Street Name

+ References

No definition available.

+ Details

Name:

dei_EntityAddressAddressLine1

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Address Line 2 such as Street or Suite number

+ References

No definition available.

+ Details

Name:

dei_EntityAddressAddressLine2

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Name of the City or Town

+ References

No definition available.

+ Details

Name:

dei_EntityAddressCityOrTown

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Code for the postal or zip code

+ References

No definition available.

+ Details

Name:

dei_EntityAddressPostalZipCode

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Name of the state or province.

+ References

No definition available.

+ Details

Name:

dei_EntityAddressStateOrProvince

Namespace Prefix:

dei_

Data Type:

dei:stateOrProvinceItemType

Balance Type:

Period Type:

duration

- Definition

A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityCentralIndexKey

Namespace Prefix:

dei_

Data Type:

dei:centralIndexKeyItemType

Balance Type:

Period Type:

duration

- Definition

Indicate if registrant meets the emerging growth company criteria.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityEmergingGrowthCompany

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.

+ References

No definition available.

+ Details

Name:

dei_EntityFileNumber

Namespace Prefix:

dei_

Data Type:

dei:fileNumberItemType

Balance Type:

Period Type:

duration

- Definition

Two-character EDGAR code representing the state or country of incorporation.

+ References

No definition available.

+ Details

Name:

dei_EntityIncorporationStateCountryCode

Namespace Prefix:

dei_

Data Type:

dei:edgarStateCountryItemType

Balance Type:

Period Type:

duration

- Definition

The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityRegistrantName

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityTaxIdentificationNumber

Namespace Prefix:

dei_

Data Type:

dei:employerIdItemType

Balance Type:

Period Type:

duration

- Definition

Local phone number for entity.

+ References

No definition available.

+ Details

Name:

dei_LocalPhoneNumber

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 13e

-Subsection 4c

+ Details

Name:

dei_PreCommencementIssuerTenderOffer

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14d

-Subsection 2b

+ Details

Name:

dei_PreCommencementTenderOffer

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Title of a 12(b) registered security.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b

+ Details

Name:

dei_Security12bTitle

Namespace Prefix:

dei_

Data Type:

dei:securityTitleItemType

Balance Type:

Period Type:

duration

- Definition

Name of the Exchange on which a security is registered.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

+ Details

Name:

dei_SecurityExchangeName

Namespace Prefix:

dei_

Data Type:

dei:edgarExchangeCodeItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14a

-Subsection 12

+ Details

Name:

dei_SolicitingMaterial

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Trading symbol of an instrument as listed on an exchange.

+ References

No definition available.

+ Details

Name:

dei_TradingSymbol

Namespace Prefix:

dei_

Data Type:

dei:tradingSymbolItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

+ Details

Name:

dei_WrittenCommunications

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration