SmartFinancial rises after Q4 profit beats estimates

SmartFinancial

22/01/2025 16:38

** Shares of community bank SmartFinancial  SMBK.N  jump as
much as 8%; last up 3.3% at $33.25
    ** SMBK late Tuesday posted Q4 profit of 57 cents/shr,
beating analysts' estimates of 51 cents/shr - LSEG data
    ** Q4 net interest income was $37.8 mln, topping estimates
of $36.5 mln      
    ** Net interest margin - a key measure of profitability -
came in at 3.24%, 38 basis points higher than year-ago quarter,
driven by lower deposit costs
    ** SMBK reported 13% growth in loan and leases during the
quarter    
    ** Piper Sandler says encouraged by the strong upward
momentum of NIM and balance sheet growth, adding that robust
loan growth positions the bank well to deliver improved
profitability in 2025  
    ** SMBK shares climbed 26.5% in 2024

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))