SmarFinancial: Q3 Earnings Snapshot

Associated Press Finance
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KNOXVILLE, Tenn. (AP) — KNOXVILLE, Tenn. (AP) — SmartFinancial Inc. (SMBK) on Monday reported third-quarter net income of $2.1 million.

The bank, based in Knoxville, Tennessee, said it had earnings of 12 cents per share. Earnings, adjusted for non-recurring costs, came to 43 cents per share.

The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 47 cents per share.

The bank holding company posted revenue of $56 million in the period. Its revenue net of interest expense was $31.7 million, which also missed Street forecasts. Three analysts surveyed by Zacks expected $38.9 million.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SMBK at https://www.zacks.com/ap/SMBK

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