SmartFinancial, Inc. (SMBK) Bundle
An Overview of SmartFinancial, Inc. (SMBK)
General Summary of SmartFinancial, Inc. (SMBK)
SmartFinancial, Inc. (SMBK) is a bank holding company headquartered in Knoxville, Tennessee. The company operates through 186 full-service branches across Tennessee, Alabama, Florida, and Georgia as of December 31, 2023.
Key company services include:
- Commercial and consumer banking
- Mortgage lending
- Wealth management
- Insurance services
Financial Performance Highlights
| Financial Metric | 2023 Value |
|---|---|
| Total Assets | $12.4 billion |
| Total Deposits | $9.8 billion |
| Net Income | $171.2 million |
| Earnings Per Share | $2.41 |
Industry Leadership
SmartFinancial ranks among the top 200 banks in the United States with a strong regional presence in the Southeastern banking market.
Market performance indicators:
- Return on Average Common Equity: 11.64%
- Net Interest Margin: 3.68%
- Efficiency Ratio: 57.81%
Mission Statement of SmartFinancial, Inc. (SMBK)
Mission Statement Overview
SmartFinancial, Inc. (SMBK) mission statement focuses on delivering comprehensive financial services with a customer-centric approach.
Core Mission Components
| Component | Specific Details | Quantitative Metrics |
|---|---|---|
| Customer Service | Personalized banking solutions | 4.2/5 customer satisfaction rating |
| Financial Accessibility | Diverse banking products | 27 distinct financial product offerings |
| Community Engagement | Local market investment | $43.6 million community reinvestment |
Strategic Focus Areas
- Total assets: $12.3 billion
- Operating in 6 southeastern U.S. states
- Network of 125 banking locations
- Digital banking platforms serving 287,000 customers
Performance Metrics
| Financial Indicator | 2024 Value |
|---|---|
| Net Income | $89.4 million |
| Return on Equity | 11.7% |
| Loan Portfolio | $8.6 billion |
Technology Integration
Digital transformation investments: $22.3 million in 2024
- Mobile banking application users: 214,000
- Online transaction volume: 3.6 million monthly
- Cybersecurity investment: $5.7 million
Vision Statement of SmartFinancial, Inc. (SMBK)
Vision Statement Overview
SmartFinancial, Inc. (SMBK) vision statement reflects its strategic positioning in the financial services sector as of 2024.
Strategic Vision Components
| Vision Dimension | Specific Target | Quantitative Metric |
|---|---|---|
| Market Expansion | Southeast Regional Growth | 12 new branch locations by Q4 2024 |
| Digital Transformation | Online Banking Capabilities | 98.3% digital service reliability |
| Customer Engagement | Digital User Experience | 247,000 active mobile banking users |
Technology Integration Goals
- AI-powered financial advisory services
- Blockchain transaction security enhancement
- Machine learning risk assessment algorithms
Financial Performance Targets
SmartFinancial targets $425 million in total assets by end of 2024, with projected 7.2% year-over-year revenue growth.
| Financial Metric | 2024 Projection |
|---|---|
| Total Assets | $425 million |
| Revenue Growth | 7.2% |
| Net Interest Margin | 3.65% |
Core Values of SmartFinancial, Inc. (SMBK)
Core Values of SmartFinancial, Inc. (SMBK)
Customer-Centric Approach
SmartFinancial, Inc. prioritizes customer satisfaction through targeted strategies.
| Metric | 2024 Value |
|---|---|
| Customer Satisfaction Rate | 87.6% |
| Net Promoter Score | 62 |
Integrity and Transparency
The company maintains rigorous ethical standards in financial operations.
- Compliance with SEC reporting requirements
- Annual independent audit verification
- Zero regulatory violations in 2024
Innovation and Technology
SmartFinancial invests significantly in technological advancement.
| Technology Investment | 2024 Amount |
|---|---|
| R&D Spending | $14.3 million |
| Digital Platform Development | $6.7 million |
Community Commitment
Corporate social responsibility initiatives demonstrate community engagement.
- Community investment: $2.1 million
- Local nonprofit partnerships: 17
- Employee volunteer hours: 4,562
Sustainable Banking Practices
Environmental sustainability remains a critical organizational focus.
| Sustainability Metric | 2024 Performance |
|---|---|
| Carbon Neutral Commitment | 95% achieved |
| Green Investment Portfolio | $342 million |
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