Form 8-K

8-K — SMARTFINANCIAL INC.

Accession: 0001104659-26-045196

Filed: 2026-04-20

Period: 2026-04-20

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-20260420x8k.htm (Primary)

EX-99.1 (smbk-20260420xex99d1.htm)

EX-99.2 (smbk-20260420xex99d2.htm)

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8-K

8-K (Primary)

Filename: smbk-20260420x8k.htm · Sequence: 1

SMARTFINANCIAL, INC._April 20, 2026

0001038773false00010387732026-04-202026-04-20

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: April 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 April 20, 2026, SmartFinancial, Inc. (“SmartFinancial”) issued a press release (the “Press Release”) reporting earnings results for its first quarter ending March 31, 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 April 20, 2026. The slides are attached hereto as Exhibit 99.2.

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 first quarter 2026 financial results dated April 20, 2026

99.2

First 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: April 20, 2026

/s/ William Y. Carroll, Jr.

William Y. Carroll, Jr.

President & Chief Executive Officer

EX-99.1

Filename: smbk-20260420xex99d1.htm · Sequence: 2

Exhibit 99.1

1Q 2026

SmartFinancial Announces Results for the First Quarter 2026

KNOXVILLE, TN – April 20, 2026 - SmartFinancial, Inc. ("SmartFinancial" or the "Company"; NYSE: SMBK), today announced net income of $13.7 million, or $0.81 per diluted common share, for the first quarter of 2026, compared to net income of $11.3 million, or $0.67 per diluted common share, for the first quarter of 2025, and compared to prior quarter net income of $13.7 million, or $0.81 per diluted common share.

Highlights for the First Quarter of 2026

● Operating earnings1 of $13.7 million, or $0.81 per diluted common share

● Net organic loan and lease growth of $155 million with 14% annualized quarter-over-quarter increase

● Deposit growth, excluding brokered deposits, of $95 million or 7% annualized quarter-over-quarter

● Net interest margin, fully tax equivalent basis (“FTE”) expanded to 3.48%, reflecting lower deposit and funding costs

● Allowance for credit losses (“ACL”) model change resulting in ACL to total loans and leases increase of 3bps to 0.97%

● Nashville expansion with Director of Private Banking and Wealth Management and additional commercial banker hires

Billy Carroll, President & CEO, stated: "As anticipated, 2026 began with strong momentum due to the robust business pipeline established prior to year end and the diligent work of our associates in securing new business. Quarterly net balance loan growth of $155 million while core deposits increased by $95 million, surpassing initial forecasts. Deposit growth was particularly notable, especially after accounting for a projected $68 million seasonal withdrawal from a significant client relationship. Operating earnings per share were solid at $0.81, supported by an expansion of over 10 basis points in net interest margin quarter-over-quarter and disciplined expense management. Additionally, we maintained our quarter-over-quarter earnings per share despite a higher provision associated with a change in our ACL model, which we expect to normalize next quarter. Overall, this represents an excellent start to the year, made possible by the dedicated efforts of our over 580 associates. Thank you all for your continued commitment and positivity!”

SmartFinancial's Chairman, Miller Welborn, concluded: “The Board is grateful to all our associates for delivering a strong start to 2026, which is a reflection of the team’s hard work and dedication. We appreciate the energy our teams are bringing, not only to our strategic initiatives, but also to the many operational and efficiency-enhancing projects underway. We truly value these contributions and are excited about the benefits these efforts will deliver for our Company and our stakeholders. Looking ahead, we remain confident in our strategic direction and focused on executing our priorities to build on this momentum through the remainder of 2026.”

Net Interest Income and Net Interest Margin

Net interest income was $45.9 million for the first quarter of 2026, compared to $45.1 million for the prior quarter. Average earning assets totaled $5.39 billion, an increase of $47.1 million from the prior quarter. The balances of average earnings assets increased quarter-over-quarter, primarily from an increase in average loans and leases of $138.7 million and average securities of $5.7 million, offset by a decrease in average federal funds sold and other earning assets of $97.3 million. Average interest-bearing liabilities increased by $66.9 million from the prior quarter, primarily attributable to an increase in average interest-bearing deposits of $66.8 million.

The tax equivalent net interest margin was 3.48% for the first quarter of 2026, up from 3.38% for the prior quarter. This increase is primarily related to declines in deposit costs, outpacing a modest decrease in asset yields. The yield on loans and leases, excluding loan fees, FTE was 5.93% for the first quarter of 2026, compared to 6.00% for the prior quarter.

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

The cost of total deposits for the first quarter of 2026 was 2.12%, compared to 2.26% in the prior quarter. The cost of interest-bearing liabilities was 2.72% for the first quarter of 2026, compared to 2.90% in the prior quarter. The cost of average interest-bearing deposits was 2.60% for the first quarter of 2026, compared to 2.79% for the prior quarter, a decrease of 19 basis points.

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

Three Months Ended

Mar

Dec

Increase

Selected Interest Rates and Yields

2026

2025

(Decrease)

Yield on loans and leases, excluding loan fees, FTE

5.93

6.00

(0.07)

Yield on loans and leases, FTE

6.02

6.08

(0.06)

Yield on earning assets, FTE

5.62

5.65

(0.03)

Cost of interest-bearing deposits

2.60

2.79

(0.19)

Cost of total deposits

2.12

2.26

(0.14)

Cost of interest-bearing liabilities

2.72

2.90

(0.18)

Net interest margin, FTE

3.48

3.38

0.10

Allowance for Credit Losses on Loans and Leases and Credit Quality

At March 31, 2026, the allowance for credit losses was $44.0 million. During the quarter, changes were made to SmartBank's ACL loss model, which included the adoption of a discounted cash flow methodology, refinements to key assumptions and qualitative factors, and improved use of macroeconomic drivers. As a result, the allowance for credit losses to total loans and leases rose to 0.97% as of March 31, 2026, up from 0.94% as of December 31, 2025.

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

Three Months Ended

Mar

Dec

Increase

Allowance for Credit Losses on Loans and Leases Rollforward

2026

2025

(Decrease)

Beginning balance

40,906

39,074

1,832

Charge-offs

(229)

(1,993)

1,764

Recoveries

101

(41)

Net charge-offs

(169)

(1,892)

1,723

Provision for credit losses (1)

3,213

3,724

(511)

Ending balance

43,950

40,906

3,044

Allowance for credit losses to total loans and leases

0.97

0.94

0.03

(1) The current quarter-ended and prior quarter-ended excludes an unfunded commitments provision of $926 thousand and $408 thousand, respectively. At March 31, 2026, and December 31, 2025, the unfunded commitment liability totaled $4.5 million and $3.6 million, respectively.

Nonperforming loans and leases as a percentage of total loans and leases was 0.27% as of March 31, 2026, and 0.22% as of December 31, 2025. 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 0.25% as of March 31, 2026, and 0.22% as of December 31, 2025.

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

Three Months Ended

Mar

Dec

Increase

Credit Quality

2026

2025

(Decrease)

Nonaccrual loans and leases

12,257

9,442

2,815

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

Total nonperforming loans and leases

12,257

9,442

2,815

Other real estate owned

Other repossessed assets

2,798

3,248

(450)

Total nonperforming assets

15,055

12,690

2,365

Nonperforming loans and leases to total loans and leases

0.27

0.22

0.05

Nonperforming assets to total assets

0.25

0.22

0.03

Noninterest Income

Noninterest income decreased $278 thousand to $7.9 million for the first quarter of 2026, compared to $8.2 million for the prior quarter. The first quarter decrease was primarily attributable to the reduction in capital markets’ income included in other noninterest income.

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

Three Months Ended

Mar

Dec

Increase

Noninterest Income

2026

2025

(Decrease)

Service charges on deposit accounts

1,853

1,828

Gain on sale of securities, net

Mortgage banking income

760

837

(77)

Investment services

1,796

1,683

113

Interchange and debit card transaction fees

1,418

1,375

Other

2,113

2,496

(383)

Total noninterest income

7,941

8,219

(278)

Noninterest Expense

Noninterest expense increased $444 thousand to $32.9 million for the first quarter of 2026, compared to $32.5 million for the prior quarter. The first quarter’s increase was primarily attributable to an increase in salaries and employee benefits and other expenses, offset by a decrease in FDIC insurance expense.

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

Three Months Ended

Mar

Dec

Increase

Noninterest Expense

2026

2025

(Decrease)

Salaries and employee benefits

20,414

19,917

497

Occupancy and equipment

3,344

3,388

(44)

FDIC insurance

750

1,025

(275)

Other real estate and loan related expenses

792

858

(66)

Advertising and marketing

387

393

(6)

Data processing and technology

2,436

2,413

Professional services

1,193

1,132

Amortization of intangibles

457

479

(22)

Restructuring expenses

(16)

Other

3,142

2,850

292

Total noninterest expense

32,915

32,471

444

Income Tax Expense

Income tax expense was $3.1 million for the first quarter of 2026, an increase of $76 thousand, compared to $3.0 million for the prior quarter.

Balance Sheet Trends

Total assets at March 31, 2026, were $5.91 billion compared to $5.86 billion at December 31, 2025. The $46.9 million increase is primarily attributable to increases in loans and leases of $154.8 million, securities of $11.0 million, premises and equipment of $5.0 million, and bank owned life insurance of $913 thousand, offset by a decrease in cash and cash equivalents of $118.3 million, loans held for sale of $3.6 million and an increase in provision of credit losses of $3.0 million.

Total liabilities were $5.35 billion at March 31, 2026, compared to $5.31 billion at December 31, 2025, an increase of $37.2 million. Total deposits increased $43.4 million, which was driven primarily by increases in money market deposits of $182.3 million, other time deposits of $16.1 million, and interest-bearing demand deposits of $8.6 million, offset by a decline in noninterest demand deposits of $111.6 million and brokered deposits of $51.9 million. In addition, other liabilities decreased by $6.0 million.

Shareholders' equity at March 31, 2026, totaled $562.1 million, an increase of $9.7 million, from December 31, 2025. The increase in shareholders' equity was primarily driven by net income of $13.7 million for the three months ending March 31, 2026, offset by an increase of $3.0 million in accumulated other comprehensive loss and dividends paid of $1.4 million. Tangible book value per common share1 was $27.33 at March 31, 2026, compared to $26.85 at December 31, 2025. Tangible common equity1 as a percentage of tangible assets1 was 8.04% at March 31, 2026, compared with 7.93% at December 31, 2025.

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

Mar

Dec

Increase

Selected Balance Sheet Information

2026

2025

(Decrease)

Total assets

5,907,685

5,860,810

46,875

Total liabilities

5,345,524

5,308,318

37,206

Total equity

562,161

552,492

9,669

Securities

673,051

662,003

11,048

Loans and leases

4,518,391

4,363,582

154,809

Deposits

5,196,236

5,152,789

43,447

Conference Call Information

SmartFinancial issued this earnings release for the first quarter of 2026 on Monday, April 20, 2026, and will host a conference call on Monday, April 20, 2026, at 10:00 a.m. ET. To access this interactive teleconference, dial (833) 470-1428 or (404) 975-4839 and enter the access code, 156265. A replay of the conference call will be available through July 19, 2026, by dialing (866) 813-9403 or (929) 458-6194 and enter the access code, 215769. 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 servicing centers 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

(10)

Operating return on average assets

(2)

Operating noninterest income

(11)

Operating PPNR return on average assets

(3)

Operating noninterest expense

(12)

Operating return on average shareholders’ equity

(4)

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

(13)

Return on average tangible common equity

(5)

Tangible common equity

(14)

Operating return on average tangible common equity

(6)

Average tangible common equity

(15)

Operating noninterest income/average assets

(7)

Tangible book value per common share

(16)

Operating noninterest expense/average assets

(8)

Tangible assets

(17)

Tangible common equity to tangible assets

(9)

Operating efficiency ratio

Operating earnings, operating PPNR earnings, operating noninterest income and operating noninterest expense exclude non-operating related income and expense items from net income, noninterest income and noninterest expense, respectively. Tangible common equity and average tangible common equity exclude goodwill and other intangible assets from shareholders' equity and average shareholders' equity, respectively. Tangible book value per common share is tangible common equity divided by common shares outstanding. Tangible assets excludes goodwill and other intangibles from total assets. Operating efficiency ratio is the quotient of operating noninterest expense divided by the sum of net interest income adjusted for taxable equivalent yields plus operating noninterest income. A detailed reconciliation 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

Mar

Dec

Sep

Jun

Mar

2026

2025

Assets:

Cash and cash equivalents

346,071

464,417

557,127

365,096

422,984

Securities available-for-sale, at fair value

552,083

539,882

511,095

502,150

499,445

Securities held-to-maturity, at amortized cost

120,968

122,121

123,364

124,520

125,576

Other investments

16,597

16,441

14,888

14,713

14,371

Loans held for sale

7,277

10,865

9,855

5,484

3,843

Loans and leases

4,518,391

4,363,582

4,222,369

4,124,062

3,992,207

Less: Allowance for credit losses

(43,950)

(40,906)

(39,074)

(39,776)

(38,175)

Loans and leases, net

4,474,441

4,322,676

4,183,295

4,084,286

3,954,032

Premises and equipment, net

93,360

88,387

89,250

90,204

90,708

Other real estate owned

—

144

Goodwill and other intangibles, net

94,871

95,328

95,807

103,588

104,154

Bank owned life insurance

120,438

119,525

118,610

117,697

116,805

Other assets

81,579

81,168

81,692

82,981

79,155

Total assets

5,907,685

5,860,810

5,784,983

5,490,863

5,411,217

Liabilities:

Deposits:

Noninterest-bearing demand

951,366

1,062,918

931,477

906,965

884,294

Interest-bearing demand

954,292

945,716

929,454

843,820

885,063

Money market and savings

2,455,945

2,273,612

2,218,313

2,124,623

2,131,828

Time deposits

834,633

870,543

971,653

996,712

907,474

Total deposits

5,196,236

5,152,789

5,050,897

4,872,120

4,808,659

Borrowings

3,178

3,009

1,301

6,966

7,610

Subordinated debt

98,733

98,662

138,604

39,726

39,705

Other liabilities

47,377

53,858

55,699

52,924

49,302

Total liabilities

5,345,524

5,308,318

5,246,501

4,971,736

4,905,276

Shareholders' Equity:

Common stock

17,098

17,029

17,028

17,018

Additional paid-in capital

296,284

295,950

295,742

295,209

294,736

Retained earnings

261,032

248,719

236,380

224,061

213,721

Accumulated other comprehensive loss

(12,366)

(9,319)

(10,781)

(17,274)

(19,647)

Total shareholders' equity attributable to SmartFinancial Inc. and Subsidiary

562,048

552,379

538,369

519,014

505,828

Non-controlling interest - preferred stock of subsidiary

113

Total shareholders' equity

562,161

552,492

538,482

519,127

505,941

Total liabilities & shareholders' equity

5,907,685

5,860,810

5,784,983

5,490,863

5,411,217

SmartFinancial, Inc. and Subsidiary

Condensed Consolidated Financial Information - (unaudited)

(dollars in thousands except share and per share data)

Three Months Ended

Mar

Dec

Sep

Jun

Mar

2026

2025

Interest income:

Loans and leases, including fees

65,638

65,573

64,282

61,049

57,762

Investment securities:

Taxable

5,492

5,662

4,876

4,848

4,775

Tax-exempt

555

536

441

395

354

Federal funds sold and other earning assets

2,585

3,854

4,919

3,161

3,485

Total interest income

74,270

75,625

74,518

69,453

66,376

Interest expense:

Deposits

26,529

28,646

30,464

28,301

27,335

Borrowings

Subordinated debt

1,864

1,884

1,610

739

733

Total interest expense

28,394

30,531

32,088

29,110

28,138

Net interest income

45,876

45,094

42,430

40,343

38,238

Provision for credit losses

4,139

4,132

227

2,411

979

Net interest income after provision for credit losses

41,737

40,962

42,203

37,932

37,259

Noninterest income:

Service charges on deposit accounts

1,853

1,828

1,831

1,766

1,736

Gain (loss) on sale of securities, net

—

(3,715)

(4)

—

Mortgage banking

760

837

709

633

493

Investment services

1,796

1,683

1,690

1,440

1,769

Insurance commissions

—

1,049

1,554

1,412

Interchange and debit card transaction fees

1,418

1,375

1,338

1,342

1,220

Gain on sale of SBK Insurance ("SBKI")

—

3,955

—

Other

2,113

2,496

1,780

2,167

1,967

Total noninterest income

7,941

8,219

8,637

8,898

8,597

Noninterest expense:

Salaries and employee benefits

20,414

19,917

19,544

19,602

19,234

Occupancy and equipment

3,344

3,388

3,468

3,432

3,397

FDIC insurance

750

1,025

992

960

Other real estate and loan related expense

792

858

969

757

658

Advertising and marketing

387

393

454

390

382

Data processing and technology

2,436

2,413

2,594

2,651

2,657

Professional services

1,193

1,132

1,123

1,153

1,368

Amortization of intangibles

457

479

536

566

569

Restructuring expenses

—

1,310

—

Other

3,142

2,850

2,846

3,026

3,071

Total noninterest expense

32,915

32,471

33,869

32,569

32,296

Income before income taxes

16,763

16,710

16,971

14,261

13,560

Income tax expense

3,083

3,007

3,285

2,556

2,306

Net income

13,680

13,703

13,686

11,705

11,254

Earnings per common share:

Basic

0.81

0.82

0.70

0.67

Diluted

0.81

0.69

0.67

Weighted average common shares outstanding:

Basic

16,821,486

16,788,065

16,781,236

16,778,988

16,767,535

Diluted

16,935,530

16,922,482

16,908,920

16,878,736

16,872,097

SmartFinancial, Inc. and Subsidiary

Condensed Consolidated Financial Information - (unaudited)

(dollars in thousands)

YIELD ANALYSIS

Three Months Ended

March 31, 2026

December 31, 2025

March 31, 2025

Average

Yield/

Average

Yield/

Average

Yield/

Balance

Interest

Cost

Balance

Interest

Cost

Balance

Interest

Cost

Assets:

Loans and leases, including fees1

4,434,181

65,855

6.02

4,295,446

65,807

6.08

3,941,295

58,008

5.97

Taxable securities

584,608

5,492

3.81

580,256

5,662

3.87

555,914

4,775

3.48

Tax-exempt securities2

80,535

703

3.54

79,149

678

3.40

63,085

448

2.88

Federal funds sold and other earning assets

286,539

2,585

3.66

383,882

3,854

3.98

306,966

3,485

4.60

Total interest-earning assets

5,385,863

74,635

5.62

5,338,733

76,001

5.65

4,867,260

66,716

5.56

Noninterest-earning assets

397,680

400,618

405,860

Total assets

5,783,543

5,739,351

5,273,120

Liabilities and Shareholders’ Equity:

Interest-bearing demand deposits

955,450

3,931

1.67

902,505

3,817

1.68

846,823

3,743

1.79

Money market and savings deposits

2,337,523

15,236

2.64

2,254,175

16,017

2.82

2,064,134

15,065

2.96

Time deposits

841,515

7,362

3.55

911,044

8,812

3.84

880,933

8,527

3.93

Total interest-bearing deposits

4,134,488

26,529

2.60

4,067,724

28,646

2.79

3,791,890

27,335

2.92

Borrowings

3,549

0.11

3,024

0.13

8,220

3.45

Subordinated debt

98,692

1,864

7.66

99,062

1,884

7.55

39,692

733

7.49

Total interest-bearing liabilities

4,236,729

28,394

2.72

4,169,810

30,531

2.90

3,839,802

28,138

2.97

Noninterest-bearing deposits

931,863

964,612

884,078

Other liabilities

54,603

58,440

51,260

Total liabilities

5,223,195

5,192,862

4,775,140

Shareholders' equity

560,348

546,489

497,980

Total liabilities and shareholders' equity

5,783,543

5,739,351

5,273,120

Net interest income, taxable equivalent

46,241

45,470

38,578

Interest rate spread

2.90

2.74

2.59

Tax equivalent net interest margin

3.48

3.38

3.21

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

127.12

128.03

126.76

Percentage of average equity to average assets

9.69

9.52

9.44

1 Yields computed on tax-exempt loans on a tax equivalent basis include $218 thousand, $235 thousand, and $246 thousand of taxable equivalent income for the quarters ended March 31, 2026, December 31, 2025, and March 31, 2025, respectively.

2 Yields computed on tax-exempt instruments on a tax equivalent basis include $148 thousand, $142 thousand, and $94 thousand of taxable equivalent income for the quarters ended March 31, 2026. December 31, 2025, and March 31 2025, respectively.

SmartFinancial, Inc. and Subsidiary

Condensed Consolidated Financial Information - (unaudited)

(dollars in thousands)

As of and for The Three Months Ended

Mar

Dec

Sep

Jun

Mar

2026

2025

Composition of Loans and Leases:

Commercial real estate:

Non-owner occupied

1,263,455

1,196,758

1,136,080

1,114,133

1,117,392

Owner occupied

1,033,211

1,022,871

1,012,088

958,989

885,396

Commercial real estate, total

2,296,666

2,219,629

2,148,168

2,073,122

2,002,788

Consumer real estate

851,484

834,626

811,150

803,270

784,602

Construction & land development

478,301

419,176

390,691

391,155

357,393

Commercial & industrial

819,875

817,595

794,751

778,754

768,454

Leases

54,296

55,422

60,301

62,495

64,208

Consumer and other

17,769

17,134

17,308

15,266

14,762

Total loans and leases

4,518,391

4,363,582

4,222,369

4,124,062

3,992,207

Asset Quality and Additional Loan Data:

Nonperforming loans and leases

12,257

9,442

10,099

7,921

7,807

Other real estate owned

—

144

Other repossessed assets

2,798

3,248

2,444

2,397

2,414

Total nonperforming assets

15,055

12,690

12,543

10,462

10,365

Modified loans and leases1 not included in nonperforming loans and leases

208

219

1,783

1,660

1,978

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

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

0.27

0.22

0.24

0.19

0.20

Nonperforming assets to total assets

0.25

0.22

0.19

Capital Ratios:

Equity to Assets

9.52

9.43

9.31

9.45

9.35

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

8.04

7.93

7.78

7.71

7.57

SmartFinancial, Inc.3

Tier 1 leverage

8.41

8.30

8.21

8.25

8.16

Common equity Tier 1

9.77

9.83

9.85

9.67

9.79

Tier 1 capital

9.77

9.83

9.85

9.67

9.79

Total capital

12.68

12.71

13.31

11.04

11.18

SmartBank3

Tier 1 leverage

9.88

9.71

9.59

8.88

8.76

Common equity Tier 1

11.47

11.51

11.56

10.41

10.51

Tier 1 capital

11.47

11.51

11.56

10.41

10.51

Total capital

12.37

12.32

12.37

11.25

11.35

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

Mar

Dec

Sep

Jun

Mar

2026

2025

Selected Performance Ratios (Annualized):

Return on average assets

0.96

0.95

0.96

0.88

0.87

Return on average shareholders' equity

9.90

9.95

10.33

9.19

9.17

Return on average tangible common equity¹

11.93

12.06

12.79

11.53

11.60

Noninterest income / average assets

0.56

0.57

0.61

0.67

0.66

Noninterest expense / average assets

2.31

2.24

2.38

2.44

2.48

Efficiency ratio

61.16

60.91

66.32

66.14

68.96

Operating Selected Performance Ratios (Annualized):

Operating return on average assets1

0.96

0.95

1.02

0.88

0.87

Operating PPNR return on average assets1

1.47

1.44

1.29

1.25

1.12

Operating return on average shareholders' equity1

9.90

9.96

10.92

9.19

9.17

Operating return on average tangible common equity1

11.93

12.07

13.53

11.53

11.60

Operating efficiency ratio1

60.75

60.45

63.61

65.66

68.46

Operating noninterest income / average assets1

0.56

0.57

0.59

0.67

0.66

Operating noninterest expense / average assets1

2.31

2.24

2.29

2.44

2.48

Selected Interest Rates and Yields:

Yield on loans and leases, excluding loan fees, FTE

5.93

6.00

6.05

5.99

5.88

Yield on loans and leases, FTE

6.02

6.08

6.14

6.07

5.97

Yield on earning assets, FTE

5.62

5.65

5.68

5.65

5.56

Cost of interest-bearing deposits

2.60

2.79

2.98

2.95

2.92

Cost of total deposits

2.12

2.26

2.44

2.39

2.37

Cost of interest-bearing liabilities

2.72

2.90

3.07

2.99

2.97

Net interest margin, FTE

3.48

3.38

3.25

3.29

3.21

Per Common Share:

Net income, basic

0.81

0.82

0.70

0.67

Net income, diluted

0.81

0.69

0.67

Operating earnings, basic¹

0.81

0.82

0.86

0.70

0.67

Operating earnings, diluted¹

0.81

0.86

0.69

0.67

Book value per common share

32.88

32.44

31.62

30.51

29.73

Tangible book value per common share¹

27.33

26.85

26.00

24.42

23.61

Common shares outstanding

17,098,473

17,029,317

17,028,001

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

Mar

Dec

Sep

Jun

Mar

2026

2025

Operating Earnings:

Net income (GAAP)

13,680

13,703

13,686

11,705

11,254

Noninterest income:

Securities (gains) losses, net

(1)

—

3,715

—

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)

13,679

13,715

14,480

11,708

11,254

Operating earnings per common share (Non-GAAP):

Basic

0.81

0.82

0.86

0.70

0.67

Diluted

0.81

0.86

0.69

0.67

Operating Noninterest Income:

Noninterest income (GAAP)

7,941

8,219

8,637

8,898

8,597

Securities (gains) losses, net

(1)

—

3,715

—

Gain on sale of SBKI

—

(3,955)

—

Operating noninterest income (Non-GAAP)

7,940

8,219

8,397

8,902

8,597

Operating noninterest income (Non-GAAP)/average assets1

0.56

0.57

0.59

0.67

0.66

Operating Noninterest Expense:

Noninterest expense (GAAP)

32,915

32,471

33,869

32,569

32,296

Restructuring expenses

—

(16)

(1,310)

—

Operating noninterest expense (Non-GAAP)

32,915

32,455

32,559

32,569

32,296

Operating noninterest expense (Non-GAAP)/average assets2

2.31

2.24

2.29

2.44

2.48

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

Net interest income (GAAP)

45,876

45,094

42,430

40,343

38,238

Operating noninterest income (Non-GAAP)

7,940

8,219

8,397

8,902

8,597

Operating noninterest expense (Non-GAAP)

(32,915)

(32,455)

(32,559)

(32,569)

(32,296)

Operating PPNR earnings (Non-GAAP)

20,901

20,858

18,268

16,676

14,539

Non-GAAP Return Ratios:

Operating return on average assets (Non-GAAP)3

0.96

0.95

1.02

0.88

0.87

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

1.47

1.44

1.29

1.25

1.12

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

11.93

12.06

12.79

11.53

11.60

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

9.90

9.96

10.92

9.19

9.17

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

11.93

12.07

13.53

11.53

11.60

Operating Efficiency Ratio:

Efficiency ratio (GAAP)

61.16

60.91

66.32

66.14

68.96

Adjustment for taxable equivalent yields

(0.41)

(0.43)

(0.47)

(0.50)

Adjustment for securities gains (losses)

—

(4.50)

(0.01)

—

Adjustment for sale of SBKI

—

5.57

—

Adjustment for restructuring cost

—

(0.02)

(3.31)

—

Operating efficiency ratio (Non-GAAP)

60.75

60.45

63.61

65.66

68.46

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

Mar

Dec

Sep

Jun

Mar

2026

2025

Tangible Common Equity:

Shareholders' equity (GAAP)

562,161

552,492

538,482

519,127

505,941

Less goodwill and other intangible assets

94,871

95,328

95,807

103,588

104,154

Tangible common equity (Non-GAAP)

467,290

457,164

442,675

415,539

401,787

Average Tangible Common Equity:

Average shareholders' equity (GAAP)

560,348

546,489

525,829

511,067

497,980

Less average goodwill and other intangible assets

95,145

95,619

101,326

103,936

104,504

Average tangible common equity (Non-GAAP)

465,203

450,870

424,503

407,131

393,476

Tangible Book Value per Common Share:

Book value per common share (GAAP)

32.88

32.44

31.62

30.51

29.73

Adjustment due to goodwill and other intangible assets

(5.55)

(5.59)

(5.63)

(6.09)

(6.12)

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

27.33

26.85

26.00

24.42

23.61

Tangible Common Equity to Tangible Assets:

Total Assets (GAAP)

5,907,685

5,860,810

5,784,983

5,490,863

5,411,217

Less goodwill and other intangibles

94,871

95,328

95,807

103,588

104,154

Tangible Assets (Non-GAAP)

5,812,814

5,765,482

5,689,176

5,387,275

5,307,063

Tangible common equity to tangible assets (Non-GAAP)

8.04%

7.93%

7.78%

7.71%

7.57%

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-20260420xex99d2.htm · Sequence: 3

Exhibit 99.2

INVESTOR CALL

1Q 2026

April 20, 2026, 10:00am ET

Webcast: www.smartbank.com

(Investor Relations)

Audio Only: 1

-833

-470

-1428

Access Code: 156265

Miller Welborn

Chairman of the Board

Billy Carroll

President & CEO

Ron Gorczynski

CFO

(i) Operating earnings

(ii) Operating noninterest income

(iii) Operating noninterest expense

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

(v) Tangible common equity

(vi) Tangible common equity (excluding Accumulated Other Comprehensive

income (“AOCI”))

(vii) Average tangible common equity

(viii) Tangible book value per common share

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

(x) Tangible assets

(xi) Operating efficiency ratio

(xii) Operating return on average assets

(xiii) Operating PPNR return on average assets

(xiv) Operating return on average shareholders’ equity

(xv) Return on average tangible common equity

(xvi) Operating return on average tangible common equity

(xvii) Operating noninterest income/average assets

(xviii) Operating noninterest expense/average assets

(xix) Tangible common equity to tangible assets

(xx) Diluted operating earnings per 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 3/31/26

Operating earnings, operating revenue, operating PPNR earnings, operating noninterest income and operating noninterest

expense exclude non-operating related income and expense items from net income, noninterest income and noninterest

expense, respectively. Operating efficiency ratio is the quotient of operating noninterest expense divided by the sum of net

interest income adjusted for taxable equivalent yields plus operating noninterest income. Tangible common equity and average

tangible common equity excludes goodwill and other intangible assets from shareholders' equity and average shareholders'

equity, respectively. Tangible common equity (excluding AOCI) excludes goodwill and other intangible assets from shareholders’

equity and accumulated other comprehensive income. Tangible book value per common share is tangible common equity

divided by common shares outstanding. Tangible book value per common share (excluding AOCI) is tangible common equity

(excluding AOCI) divided by common shares outstanding. Tangible assets excludes goodwill and other intangibles from total

assets. A detailed reconciliation 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.

$0.67

$0.81 $0.81

$0.67

$0.81 $0.81

1Q25 4Q25 1Q26

GAAP EPS Diluted Operating EPS

$29.73

$32.44 $32.88

$23.61

$26.85 $27.33

1Q25 4Q25 1Q26

BV Per Share TBV Per Share

0.87%

0.95% 0.96%

0.87%

0.95% 0.96%

1Q25 4Q25 1Q26

GAAP ROAA Operating ROAA

11.6%

12.1% 11.9% 11.6%

12.1% 11.9%

1Q25 4Q25 1Q26

ROATCE Operating ROATCE

Unless otherwise indicated, financial data as of or for the three months ended 3/31/26

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

QUARTERLY HIGHLIGHTS: FIRST QUARTER 2026

QoQ2 Annualized

Tang. Book Value

Per Share Growth1

$0.81

Diluted Operating

EPS1

0.96%

Operating Return on

Average Assets1

11.9%

Operating Return on

Average Tang.

Common Equity1

61%

Operating Efficiency

Ratio1

QoQ Annualized

Deposit Growth

14%

QoQ Annualized

Organic Loan3

Growth

87%

Loan / Deposit

Ratio3

0.25%

Non-Performing

Assets / Assets

$5.9

Billion in Total

Assets

Diluted Earnings Per Share Book Value Per Share

Return on Average Assets

Return on Average Tangible

Common Equity

1 1

$10,215 $13,680

$( 1, 000)

$1, 000

$3, 000

$5, 000

$7, 000

$9, 000

$11, 000

$13, 000

$15, 000

$17, 000 $0.61 $0.81

$1 $40,291 $53,817

$10, 000

$20, 000

$30, 000

$40, 000

$50, 000

$60, 000 $2,994 $4,518

$100

$1, 100

$2, 100

$3, 100

$4, 100

$5, 100 $4,282 $5,196

$2, 000

$2, 500

$3, 000

$3, 500

$4, 000

$4, 500

$5, 000

$5, 500 0.11% 0.25%

GAAP KEY MEASURE TRENDS:

$ in Thousands

Net Income: Diluted Earnings Per Share: 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

$10,275 $13,679

$2, 000

$4, 000

$6, 000

$8, 000

$10, 000

$12, 000

$14, 000

$16, 000

$18, 000 $0.61 $0.81

$1 $14,446 $20,901

$5, 000

$7, 000

$9, 000

$11, 000

$13, 000

$15, 000

$17, 000

$19, 000

$21, 000

$23, 000 0.88%0.96%

$0 13.09% 11.93%

$0 $18.69 $27.33

$16

$18

$20

$22

$24

$26

$28

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: Diluted Operating EPS: Operating PPNR Earnings:

Operating ROAA: Operating ROATCE: Tangible Book Value Per 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 Tangible Book Value Per 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

$5.9

Billion in Total

Assets

$4.5

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.

$5.2

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) 2025 Great Place to Work survey

Panama City

92%

Destin

Columbus

$1.0 $1.1

$1.7

$2.3 $2.4

$3.3

$4.6 $4.6 $4.8

$5.3

$5.9 $5.9

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: 47

► Loans: 58%

► Deposits: 59%

► ’21-’26 Growth: 10%

Tennessee

Source: S&P Market Intelligence; U.S. Census; https://www.cnbc.com/americas-top-states-for-business/

1) Production team includes relationship managers, 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 3/31/26, respectively

3) 12/31/21 – 3/31/26 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: 31

► Loans: 26%

► Deposits: 32%

► ’21-’26 Growth: 25%

Alabama

► Production Team: 14

► Loans: 16%

► Deposits: 9%

► ’21-’26 Growth: 12%

Coastal

Projected Population CAGR through 2030

AMERICA’S TOP STATES

FOR BUSINESS 2025

N. CAROLINA: #1

FLORIDA: #3

GEORGIA: #7

TENNESSEE: #8

S. CAROLINA: #18

ALABAMA: #19

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

5.43%

5.86%

5.98%

5.93%

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

22% 23% 24% 23% 23%

28% 27% 27% 27% 28%

19% 19% 19% 19% 18%

9% 9% 9%

10%

11%

20%

19% 19%

19%

$3,992

$4,124 $4,222

$4,364

$4,518

1Q25 2Q25 3Q25 4Q25 1Q26

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)

24%

Resi/Comm

Land Dev.

12%

Resi/Comm

Land

16%

CRE (OO)

17%

CRE (NOO)

16%

Multifamily

18%

Hotel &

Hospitality

32%

Retail

Space

11%

Office Space

16%

Misc.

14%

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 $478 Million2

- 11% of Total Loans

$10,365 $10,462

$12,543 $12,690

$15,055

0.19% 0.19% 0.22% 0.22% 0.25%

- 0.10%

0.10%

0.30%

0.50%

0.70%

0.90%

1.10%

1.30%

1.50%

$2, 000

$4, 000

$6, 000

$8, 000

$10, 000

$12, 000

$14, 000

$16, 000

$18, 000

$20, 000

1Q25 2Q25 3Q25 4Q25 1Q26

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

304% 301%

271%

277%

290%

73% 78%

69% 71%

79%

50%

100%

150%

200%

250%

150%

170%

190%

210%

230%

250%

270%

290%

310%

330%

350%

1Q25 2Q25 3Q25 4Q25 1Q26

CRE Loans / Capital C&D Loans / Capital

$15,474

$12,882

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

0.39%

0.31% 0.37% 0.36% 0.35%

- 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

1Q25 2Q25 3Q25 4Q25 1Q26

Total Delinquent & Nonaccrual Loans & Leases

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

0.24% 0.24% 0.25% 0.24% 0.25%

0.01% 0.01%

0.10%

0.18%

0.02%

- 0.10%

0.00%

0.10%

0.20%

0.30%

0.40%

0.50%

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

$38,175

$39,776 $39,074

$40,906

$43,950

0.96% 0.96%

0.93% 0.94%

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

1Q25 2Q25 3Q25 4Q25 1Q26

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

18% 19% 18% 21% 18%

18% 17% 18%

18% 18%

44% 44%

44%

44% 47%

19% 20%

19%

17% 16%

$4,809 $4,872

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

1Q25 2Q25 3Q25 4Q25 1Q26

Noninterest Demand Interest-Bearing Demand

Money Market and Savings Time Deposits

$4,022 $4,077

$4,268

$4,686

$5,153 $5,196

2.00%

2.51%

2.36%

2.12%

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

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

$92

$40

$129

$29

$88

$22

$50

$100

$150

$200

$250

$300

$350 UST/Agency MBS Fixed ARM CMO Fixed CMO Float Agen CMBS Small Bus Municipal Corporate 3.42% 3.41% 3.44% 3.81% 3.78%

2.50%

3.00%

3.50%

4.00%

4.50%

1Q25 2Q25 3Q25 4Q25 1Q26

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

$688 Million Book Value

3.69% Book Yield

($30) Million Unrealized Loss

• ($16) Million in Available-for-Sale Securities (AFS)

• ($14) Million in Held-to-Maturity (HTM)

5.8 Year Average Life

4.1% Effective Duration

84% / 16% (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

$255 Million in Fixed Rate Loans Yielding 4.90% Maturing by 2026 Year End

$81 Million in Adjustable-Rate Loans Yielding 5.39% Maturing or Repricing by 2026 Year End FYE 2028 &

($ in millions) 2Q26 3Q26 4Q26 2027 Beyond

Loan Repricing Schedule:

Fixed Rate Loans $ 78 $ 91 $ 85 $ 341 $ 1,359

Weighted Average Yield 5.12% 5.01% 4.59% 5.09% 5.72%

Adjustable Rate Loans $ 16 $ 33 $ 32 $ 102 $ 488

Weighted Average Yield 5.83% 5.52% 5.03% 4.73% 6.35%

Investment Cashflow Schedule:

Principal Cashflow $ 19 $ 15 $ 16 $ 61 $ 587

Yield Roll-Off 4.01% 3.73% 3.42% 3.69% 3.51%

Quarterly

104%

100%

Peer Average SMBK

89% 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) Federal Reserve Board discount window borrowing capacity shown as of 3/31/26

3) 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

$1.7 Billion in Untapped Liquidity Sources

$652 Million in On-Balance Sheet Liquidity

1.2x Liquidity to Uninsured Deposit Ratio3

1 1

$ in Millions, unless otherwise indicated

Total Amount Net

Available Used Availability

Current On-Balance Sheet:

Cash & Cash Equiv. $346 $0 $346

Unpledged Securities 329 23 306

Available Sources of Liquidity:

Fed Funds 96 0 96

FHLB 908 378 530

FRB 402 0 402

HC LoC 35 0 35

Total Liquidity $2,116 $401 $1,715

1Q25 2Q25 3Q25 4Q25 1Q26

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

Sec. Yield (AFS & HTM)1 3.42% 3.41% 3.44% 3.81% 3.78%

Loans (less Accr. & Fees) 5.88% 5.99% 6.05% 6.00% 5.93%

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

Loan Yield (incl. Accr. & Fees) 5.97% 6.07% 6.14% 6.08% 6.02%

IE Asset Yield 5.56% 5.65% 5.68% 5.65% 5.62%

Net Interest Margin (FTE) 3.21% 3.29% 3.25% 3.38% 3.48%

$38,238

$40,343

$42,430

$45,094

$45,876

$8,597

$8,902

$8,397

$8,219 $7,940

$46,835

$49,245

$50,827

$53,313 $53,816

3.21%

3.29%

3.25%

3.38%

3.48%

$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%

1Q25 2Q25 3Q25 4Q25 1Q26

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

$423

$365

$557

$464

$346

$625 $627 $634

$662 $673

11.6% 11.4% 11.0% 11.3% 11.4%

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

1Q25 2Q25 3Q25 4Q25 1Q26

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

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

$(2,429), -1.3% $(1,619), -0.8%

$1,391 , 0.7% Interest Income % Change

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

$(1,076), -0.6% $(690), -0.4%

$717 , 0.4% Interest Income % Change

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

43%

14%

43%

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 3/31/26. 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

$2.0 Billion Fixed Rate Loans

$2.6 Billion Variable Rate Loans

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

• $655 Million Long-Term Variable Rate (Resets > 3 Months)

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

$8,597

$8,902

$8,397 $8,219

$7,940

1Q25 2Q25 3Q25 4Q25 1Q26

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

$7,185 $7,348 $7,348

Operating Noninterest Income Excluding Insurance Commissions

Wealth & Private Banking

~$1.5 Billion in Assets Under Management

Treasury Management

>$700 Million in Analyzed Deposits

Floor Plan Lending

>$270 Million in Commitments

Mortgage Banking

$38 Million in 2026 Q1 Secondary Production

Equipment Finance

$133 Million in Outstanding Loans and Leases

68%

66%

64%

60% 61%

1Q25 2Q25 3Q25 4Q25 1Q26

Operating Efficiency Ratio

$32,296 $32,569 $32,559 $32,455 $32,915

1Q25 2Q25 3Q25 4Q25 1Q26

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

7.6% 7.7% 7.8% 7.9% 8.0%

1Q25 2Q25 3Q25 4Q25 1Q26

9.8% 9.7% 9.9% 9.8% 9.8%

1Q25 2Q25 3Q25 4Q25 1Q26

8.2% 8.3% 8.2% 8.3% 8.4%

1Q25 2Q25 3Q25 4Q25 1Q26

11.2% 11.1%

13.3%

12.7% 12.7%

1Q25 2Q25 3Q25 4Q25 1Q26

$19.26 $19.09

$20.76

$22.85

$26.85

$27.33

$19.17

$21.18

$22.29

$24.25

$27.39

$28.05

$15. 00

$17. 00

$19. 00

$21. 00

$23. 00

$25. 00

$27. 00

$29. 00

$31. 00

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

TBV Per Share Adj. TBV Per Share (Excl. AOCI)

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 3/31/26

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 Share (TBVPS)1

$8.88 TBVPS1 Created 2021 – 2026

(Excluding Accumulated Other Comprehensive Income)

$0.08 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

4Q25 1Q25

($ in thousands, except per share data) 1Q26 4Q25 1Q25 % Chg. % Chg.

Net Interest Income $ 45,876 $ 45,094 $ 38,238 2% 20%

Provision for Credit Losses 4,139 4,132 979

Noninterest Income 7,941 8,219 8,597 (3%) (8%)

Noninterest Expense 32,915 32,471 32,296 1% 2%

Income Tax Expense 3,083 3,007 2,306

Net Income (GAAP) $ 13,680 $ 13,703 $ 11,254 (0%) 22%

Non-GAAP Reconciliations

Noninterest Income (1) - -

Noninterest Expense - 16 -

Income Tax Effect Of Adjustments 0 (4) -

Operating Earnings (Non-GAAP) $ 13,679 $ 13,715 $ 11,254 (0%) 22%

Operating PPNR Earnings (Non-GAAP) $ 20,901 $ 20,858 $ 14,539 0% 44%

4Q25 1Q25

Non-GAAP Performance Metrics 1Q26 4Q25 1Q25 % Chg. % Chg.

Diluted Operating Earnings Per Share $ 0.81 $ 0.81 $ 0.67 (0%) 21%

Tangible Book Value Per Common Share $ 27.33 $ 26.85 $ 23.61 2% 16%

Operating Return on Average Assets 0.96% 0.95% 0.87%

Operating PPNR Return on Average Assets 1.47% 1.44% 1.12%

Operating Return on Average Tang. Common Equity 11.9% 12.1% 11.6%

Operating Efficiency Ratio 60.7% 60.4% 68.5%

1Q26 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 FIRST QUARTER RESULTS

NON-GAAP RECONCILIATION

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

$ in Thousands, unless otherwise indicated

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

Operating Earnings

Net Income (GAAP) $ 13,680 $ 13,703 $ 13,686 $ 11,705 $ 11,254 $ 9,640 $ 9,140 $ 8,003

Noninterest Income:

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

Gain on Sale of Branch Building - - - - - - - (283)

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 0 (4) (276) (1) - 17 - 73

Operating Earnings (Non-GAAP) $ 13,679 $ 13,715 $ 14,480 $ 11,708 $ 11,254 $ 9,593 $ 9,140 $ 7,793

Operating Earnings Per Common Share (Non-GAAP):

Basic $ 0.81 $ 0.82 $ 0.86 $ 0.70 $ 0.67 $ 0.57 $ 0.55 $ 0.47

Diluted 0.81 0.81 0.86 0.69 0.67 0.57 0.54 0.46

Operating Noninterest Income

Noninterest Income (GAAP) $ 7,941 $ 8,219 $ 8,637 $ 8,898 $ 8,597 $ 9,030 $ 9,139 $ 7,604

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

Gain on Sale of Branch Building - - - - - - - (283)

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

Operating Noninterest Income (Non-GAAP) $ 7,940 $ 8,219 $ 8,397 $ 8,902 $ 8,597 $ 8,966 $ 9,139 $ 7,321

Operating Noninterest Expense

Noninterest Expense (GAAP) $ 32,915 $ 32,471 $ 33,869 $ 32,569 $ 32,296 $ 32,291 $ 30,846 $ 29,201

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

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

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

Operating Noninterest Expense (Non-GAAP) $ 32,915 $ 32,455 $ 32,559 $ 32,569 $ 32,296 $ 32,291 $ 30,846 $ 29,201

Operating Revenue

Net Interest Income (GAAP) $ 45,876 $ 45,094 $ 42,430 $ 40,343 $ 38,238 $ 37,783 $ 35,032 $ 32,814

Operating Noninterest Income (Non-GAAP) 7,940 8,219 8,397 8,902 8,597 8,966 9,139 7,321

Operating Revenue (Non-GAAP) 53,816 53,313 50,827 49,245 46,835 46,749 44,171 40,135

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

Operating Revenue (Non-GAAP) $ 53,816 $ 53,313 $ 50,827 $ 49,245 $ 46,835 $ 46,749 $ 44,171 $ 40,135

Operating Noninterest Expense (Non-GAAP) (32,915) (32,455) (32,559) (32,569) (32,296) (32,291) (30,846) (29,201)

Operating PPNR Earnings (Non-GAAP) $ 20,901 $ 20,858 $ 18,268 $ 16,676 $ 14,539 $ 14,458 $ 13,325 $ 10,934

Non-GAAP Return Ratios

Operating Return On Average Assets (Non-GAAP)(1) 0.96% 0.95% 1.02% 0.88% 0.87% 0.75% 0.74% 0.64%

Operating PPNR Return On Average Assets (Non-GAAP)(2) 1.47% 1.44% 1.29% 1.25% 1.12% 1.13% 1.08% 0.90%

Return On Average Tangible Common Equity (Non-GAAP)(3) 11.93% 12.06% 12.79% 11.53% 11.60% 9.99% 9.75% 8.94%

Operating Return On Average Shareholders' Equity (Non-GAAP)(4) 9.90% 9.96% 10.92% 9.19% 9.17% 7.80% 7.60% 6.72%

Operating Return On Average Tangible Common Equity (Non-GAAP)(5) 11.93% 12.07% 13.53% 11.53% 11.60% 9.94% 9.75% 8.70%

Operating Efficiency Ratio

Efficiency Ratio (GAAP) 61.16% 60.91% 66.32% 66.14% 68.96% 68.98% 69.83% 72.25%

Adjustment For Taxable Equivalent Yields (0.41%) (0.43%) (0.47%) (0.47%) (0.50%) (0.49%) (0.55%) (0.63%)

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

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

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) 60.75% 60.45% 63.61% 65.66% 68.46% 68.58% 69.28% 72.13%

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

Operating Earnings

Net Income (GAAP) $ 9,358 $ 6,190 $ 2,067 $ 8,836 $ 11,500 $ 13,004 $ 11,543 $ 10,215

Noninterest Income:

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

Gain on Sale of Branch Building (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 81

Income Taxes:

Income Tax Effect Of Adjustments 348 (239) (1,785) - - 49 (22) (21)

Operating Earnings (Non-GAAP) $ 8,360 $ 6,876 $ 7,193 $ 8,836 $ 11,500 $ 12,864 $ 11,608 $ 10,275

Operating Earnings Per Common Share (Non-GAAP):

Basic $ 0.50 $ 0.41 $ 0.43 $ 0.53 $ 0.69 $ 0.77 $ 0.69 $ 0.61

Diluted 0.49 0.41 0.43 0.52 0.68 0.76 0.69 0.61

Operating Noninterest Income

Noninterest Income (GAAP) $ 8,380 $ 7,579 $ 691 $ 7,130 $ 6,925 $ 7,125 $ 6,250 $ 7,229

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

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

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

Operating Noninterest Income (Non-GAAP) $ 7,034 $ 7,579 $ 7,492 $ 7,130 $ 6,925 $ 6,981 $ 6,250 $ 7,229

Operating Noninterest Expense

Noninterest Expense (GAAP) $ 28,553 $ 29,695 $ 28,516 $ 27,410 $ 27,529 $ 27,416 $ 27,230 $ 25,926

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

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

Merger Related And Restructuring Expenses - - (110) - - 45 (87) (81)

Operating Noninterest Expense (Non-GAAP) $ 28,553 $ 28,770 $ 28,406 $ 27,410 $ 27,529 $ 27,461 $ 27,143 $ 25,845

Operating Revenue

Net Interest Income (GAAP) $ 31,721 $ 31,517 $ 31,006 $ 31,575 $ 35,982 $ 37,612 $ 36,708 $ 33,062

Operating Noninterest Income (Non-GAAP) 7,034 7,579 7,492 7,130 6,925 6,981 6,250 7,229

Operating Revenue (Non-GAAP) 38,755 39,096 38,498 38,705 42,907 44,593 42,958 40,291

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

Operating Revenue (Non-GAAP) $ 38,755 $ 39,096 $ 38,498 $ 38,705 $ 42,907 $ 44,593 $ 42,958 $ 40,291

Operating Noninterest Expense (Non-GAAP) (28,553) (28,770) (28,406) (27,410) (27,529) (27,461) (27,143) (25,845)

Operating PPNR Earnings (Non-GAAP) $ 10,202 $ 10,326 $ 10,092 $ 11,295 $ 15,378 $ 17,132 $ 15,815 $ 14,446

Non-GAAP Return Ratios

Operating Return On Average Assets (Non-GAAP)(1) 0.69% 0.57% 0.60% 0.75% 0.97% 1.10% 0.96% 0.88%

Operating PPNR Return On Average Assets (Non-GAAP)(2) 0.84% 0.86% 0.84% 0.96% 1.30% 1.46% 1.30% 1.23%

Return On Average Tangible Common Equity (Non-GAAP)(3) 10.62% 7.18% 2.43% 10.57% 14.45% 16.65% 14.36% 13.02%

Operating Return On Average Shareholders' Equity (Non-GAAP)(4) 7.29% 6.07% 6.41% 7.98% 10.79% 12.15% 10.83% 9.82%

Operating Return On Average Tangible Common Equity (Non-GAAP)(5) 9.49% 7.98% 8.46% 10.57% 14.45% 16.47% 14.44% 13.09%

Operating Efficiency Ratio

Efficiency Ratio (GAAP) 71.20% 75.95% 89.96% 70.82% 64.16% 61.28% 63.39% 64.35%

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

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

Adjustment For Sale of Branch Building 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%) (0.20%)

Operating Efficiency Ratio (Non-GAAP) 73.50% 73.41% 73.60% 70.64% 64.02% 61.36% 62.93% 63.88%

NON-GAAP RECONCILIATION

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

$ in Thousands, unless otherwise indicated

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

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

Tangible Common Equity:

Shareholders' Equity (GAAP) $ 562,161 $ 552,492 $ 538,482 $ 519,127 $ 505,941 $ 491,461 $ 489,023 $ 472,465

Less Goodwill And Other Intangible Assets 94,871 95,328 95,807 103,588 104,154 104,723 105,324 105,929

Tangible Common Equity (Non-GAAP) $ 467,290 $ 457,164 $ 442,675 $ 415,539 $ 401,787 $ 386,738 $ 383,699 $ 366,536

Average Tangible Common Equity:

Average Shareholders' Equity (GAAP) $ 560,348 $ 546,489 $ 525,829 $ 511,067 $ 497,980 $ 489,172 $ 478,642 $ 466,371

Less Goodwill And Other Intangible Assets 95,145 95,619 101,326 103,936 104,504 105,093 105,701 106,301

Average Tangible Common Equity (Non-GAAP) $ 465,203 $ 450,870 $ 424,503 $ 407,131 $ 393,476 $ 384,079 $ 372,941 $ 360,070

Tangible Book Value Per Common Share:

Book Value Per Common Share (GAAP) $ 32.88 $ 32.44 $ 31.62 $ 30.51 $ 29.73 $ 29.04 $ 28.89 $ 27.91

Adjustment Due To Goodwill And Other Intangible Assets (5.55) (5.59) (5.63) (6.09) (6.12) (6.19) (6.22) (6.25)

Tangible Book Value Per Common Share (Non-GAAP)(1) $ 27.33 $ 26.85 $ 26.00 $ 24.42 $ 23.61 $ 22.85 $ 22.67 $ 21.66

Tangible Common Equity To Tangible Assets:

Total Assets (GAAP) $ 5,907,685 $ 5,860,810 $ 5,784,983 $ 5,490,863 $ 5,411,217 $ 5,275,904 $ 4,908,934 $ 4,891,009

Less Goodwill And Other Intangibles 94,871 95,328 95,807 103,588 104,154 104,723 105,324 105,929

Tangible Assets (Non-GAAP) $ 5,812,814 $ 5,765,482 $ 5,689,176 $ 5,387,275 $ 5,307,063 $ 5,171,181 $ 4,803,610 $ 4,785,080

Tangible Common Equity To Tangible Assets (Non-GAAP): 8.04% 7.93% 7.78% 7.71% 7.57% 7.48% 7.99% 7.66%

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

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

Tangible Common Equity:

Shareholders' Equity (GAAP) $ 466,796 $ 459,886 $ 446,652 $ 444,847 $ 443,399 $ 432,452 $ 414,711 $ 420,427

Less Goodwill And Other Intangible Assets 106,537 107,148 107,792 108,439 109,114 109,772 110,460 104,582

Tangible Common Equity (Non-GAAP) $ 360,259 $ 352,738 $ 338,860 $ 336,408 $ 334,285 $ 322,680 $ 304,251 $ 315,845

Average Tangible Common Equity:

Average Shareholders' Equity (GAAP) $ 461,148 $ 449,526 $ 445,432 $ 444,283 $ 432,382 $ 420,037 $ 425,365 $ 419,726

Less Goodwill And Other Intangible Assets 106,920 107,551 108,194 108,851 109,537 110,206 106,483 104,986

Average Tangible Common Equity (Non-GAAP) $ 354,228 $ 341,975 $ 337,238 $ 335,432 $ 322,845 $ 309,831 $ 318,882 $ 314,740

Tangible Book Value Per Common Share:

Book Value Per Common Share (GAAP) $ 27.37 $ 27.07 $ 26.28 $ 26.16 $ 26.08 $ 25.59 $ 24.56 $ 24.88

Adjustment Due To Goodwill And Other Intangible Assets (6.25) (6.31) (6.34) (6.38) (6.42) (6.50) (6.54) (6.19)

Tangible Book Value Per Common Share (Non-GAAP)(1) $ 21.12 $ 20.76 $ 19.94 $ 19.78 $ 19.66 $ 19.09 $ 18.02 $ 18.69

Tangible Common Equity To Tangible Assets:

Total Assets (GAAP) $ 4,954,690 $ 4,829,387 $ 4,797,171 $ 4,745,800 $ 4,769,805 $ 4,637,498 $ 4,796,911 $ 4,788,113

Less Goodwill And Other Intangibles 106,537 107,148 107,792 108,439 109,114 109,772 110,460 104,582

Tangible Assets (Non-GAAP) $ 4,848,153 $ 4,722,239 $ 4,689,379 $ 4,637,361 $ 4,660,691 $ 4,527,726 $ 4,686,451 $ 4,683,531

Tangible Common Equity To Tangible Assets (Non-GAAP): 7.43% 7.47% 7.23% 7.25% 7.17% 7.13% 6.49% 6.74%

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

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

Tangible Common Equity (Excluding AOCI):

Shareholders' Equity (GAAP) $ 466,796 $ 459,886 $ 446,652 $ 444,847 $ 443,399 $ 432,452 $ 414,711 $ 420,427

Less Goodwill And Other Intangible Assets 106,537 107,148 107,792 108,439 109,114 109,772 110,460 104,582

Tangible Common Equity (Non-GAAP) $ 360,259 $ 352,738 $ 338,860 $ 336,408 $ 334,285 $ 322,680 $ 304,251 $ 315,845

Less Adjustment Due to AOCI (Loss) (27,425) (25,907) (34,156) (35,017) (28,620) (35,324) (40,807) (24,648)

Tangible Common Equity (Excl. AOCI) (Non-GAAP) $ 387,684 $ 378,645 $ 373,016 $ 371,425 $ 362,905 $ 358,004 $ 345,058 $ 340,493

Tangible Book Value Per Common Share (Excluding AOCI):

Book Value Per Common Share (GAAP) $ 27.37 $ 27.07 $ 26.28 $ 26.16 $ 26.08 $ 25.59 $ 24.56 $ 24.88

Adjustment Due To Goodwill And Other Intangible Assets (6.25) (6.31) (6.34) (6.38) (6.42) (6.50) (6.54) (6.19)

Tangible Book Value Per Common Share (Non-GAAP)(1) $ 21.12 $ 20.76 $ 19.94 $ 19.78 $ 19.66 $ 19.09 $ 18.02 $ 18.69

Less Adjustment Due to AOCI (Loss) (1.61) (1.52) (2.01) (2.06) (1.68) (2.09) (2.42) (1.46)

Tangible Book Value Per Common Share (Excl. AOCI) (Non-GAAP) $ 22.73 $ 22.29 $ 21.95 $ 21.84 $ 21.34 $ 21.18 $ 20.43 $ 20.15

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

Tangible Common Equity (Excluding AOCI):

Shareholders' Equity (GAAP) $ 562,161 $ 552,492 $ 538,482 $ 519,127 $ 505,941 $ 491,461 $ 489,023 $ 472,465

Less Goodwill And Other Intangible Assets 94,871 95,328 95,807 103,588 104,154 104,723 105,324 105,929

Tangible Common Equity (Non-GAAP) $ 467,290 $ 457,164 $ 442,675 $ 415,539 $ 401,787 $ 386,738 $ 383,699 $ 366,536

Less Adjustment Due to AOCI (Loss) (12,366) (9,319) (10,781) (17,274) (19,647) (23,671) (17,349) (25,798)

Tangible Common Equity (Excl. AOCI) (Non-GAAP) $ 479,656 $ 466,483 $ 453,456 $ 432,813 $ 421,434 $ 410,409 $ 401,048 $ 392,334

Tangible Book Value Per Common Share (Excluding AOCI):

Book Value Per Common Share (GAAP) $ 32.88 $ 32.44 $ 31.62 $ 30.51 $ 29.73 $ 29.04 $ 28.89 $ 27.91

Adjustment Due To Goodwill And Other Intangible Assets (5.55) (5.59) (5.63) (6.09) (6.12) (6.19) (6.22) (6.25)

Tangible Book Value Per Common Share (Non-GAAP)(1) $ 27.33 $ 26.85 $ 26.00 $ 24.42 $ 23.61 $ 22.85 $ 22.67 $ 21.66

Less Adjustment Due to AOCI (Loss) (0.72) (0.55) (0.63) (1.02) (1.15) (1.40) (1.02) (1.52)

Tangible Book Value Per Common Share (Excl. AOCI) (Non-GAAP) $ 28.05 $ 27.39 $ 26.63 $ 25.43 $ 24.76 $ 24.25 $ 23.69 $ 23.18

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. 29

Note: Totals may not add due to rounding

$ in Thousands, unless otherwise indicated

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

Tangible Common Equity (Excluding AOCI):

Shareholders' Equity (GAAP) $ 562,161 $ 552,492 $ 491,461 $ 459,886 $ 432,452 $ 429,430

Less Goodwill And Other Intangible Assets 94,871 95,328 104,723 107,148 109,772 105,852

Tangible Common Equity (Non-GAAP) $ 467,290 $ 457,164 $ 386,738 $ 352,738 $ 322,680 $ 323,578

Less Adjustment Due to AOCI (Loss) (12,366) (9,319) (23,671) (25,907) (35,324) 1,443

Tangible Common Equity (Excl. AOCI) (Non-GAAP) $ 479,656 $ 466,483 $ 410,409 $ 378,645 $ 358,004 $ 322,135

Tangible Book Value Per Common Share (Excluding AOCI):

Book Value Per Common Share (GAAP) $ 32.88 $ 32.44 $ 29.04 $ 27.07 $ 25.59 $ 25.56

Adjustment Due To Goodwill And Other Intangible Assets (5.55) (5.59) (6.19) (6.31) (6.50) (6.30)

Tangible Book Value Per Common Share (Non-GAAP)(1) $ 27.33 $ 26.85 $ 22.85 $ 20.76 $ 19.09 $ 19.26

Less Adjustment Due to AOCI (Loss) (0.72) (0.55) (1.40) (1.52) (2.09) 0.09

Tangible Book Value Per Common Share (Excl. AOCI) (Non-GAAP) $ 28.05 $ 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

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Document and Entity Information

Apr. 20, 2026

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Apr. 20, 2026

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SMARTFINANCIAL, INC.

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62-1173944

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5401 Kingston Pike

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Suite 600

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Knoxville

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