SmartFinancial Inc 2026年季度报告

FORM10-Q (Mark One) ☒QUARTERLY REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIES EXCHANGEACT OF 1934 For the quarterly period ended March 31, 2026☐TRANSITION REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIES EXCHANGEACT OF 1934 For the transition period from __________ to __________Commission File Number:001-37661 (Exact name of registrant as specified in its charter) (I.R.S. Employer Identification No.) 37919(Zip Code) Not Applicable(Former name, former address and former fiscal year, if changed since last report) Securities registered pursuant to Section12(b)of the Act: Indicate by check mark whether the registrant: (1)has filed all reports required to be filed by Section13 or 15(d)of theSecurities Exchange Act of 1934 during the preceding 12months (or for such shorter period that the registrant wasrequired to file such reports), and (2)has been subject to such filing requirements for the past 90days. Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to besubmitted pursuant to Rule405 of Regulation S-T during the preceding 12months (or for such period that the registrantwas required to submit such files). Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, asmaller reporting company, or and emerging growth company. See the definitions of “large accelerated filer”, “acceleratedfiler”, “smaller reporting company”, and "emerging growth company" in Rule12b-2 of the Exchange Act: Large acceleratedfiler☐Accelerated filer☒Non-acceleratedfiler☐Smaller reportingcompany☐Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transitionperiod for complying with any new or revised financial accounting standards provided pursuant to Section13(a)of theExchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act). As of May 8, 2026, there were 17,098,473 shares of common stock, $1.00 par value per share, issued and outstanding. TABLE OF CONTENTS PART I – FINANCIAL INFORMATIONItem 1.Consolidated Financial Statements (Unaudited)3Consolidated Balance Sheets at March 31, 2026 and December 31, 20253Consolidated Statements of Income for the Three Months Ended March 31, 2026 and20254Consolidated Statements of Comprehensive Income for the Three Months EndedMarch 31, 2026 and 20255Consolidated Statements of Changes in Shareholders’ Equity for the Three MonthsEnded March 31, 2026 and 20256Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2026and 20257Condensed Notes to Consolidated Financial Statements8Item 2.Management’s Discussion and Analysis of Financial Condition and Results ofOperations41Item 3.Quantitative and Qualitative Disclosures About Market Risk55Item 4.Controls and Procedures55PART II – OTHER INFORMATION56Item 1.Legal Proceedings56Item 1A. Risk Factors56Item 2.Unregistered Sales of Equity Securities and Use of Proceeds56Item 3.Defaults Upon Senior Securities56Item 4.Mine Safety Disclosures57Item 5.Other Information57Item 6.Exhibits57 PARTI–FINANCIAL INFORMATIONITEM1. CONSOLIDATED FINANCIAL STATEMENTS SMARTFINANCIAL,INC. AND SUBSIDIARYCONSOLIDATED BALANCE SHEETS(Dollars in thousands, except for share data) SMARTFINANCIAL,INC. AND SUBSIDIARYCONSOLIDATED STATEMENTS OF INCOME(Unaudited)(Dollars in thousands, except share and per share data) SMARTFINANCIAL,INC. AND SUBSIDIARYCONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME(Unaudited)(Dollars in thousands) Three Months EndedMarch31,20262025Net income$13,680$11,254Other comprehensive (loss) income:Investment securities:Unrealized holding (losses) gains on securities available-for-sale(4,520)4,963Tax effect1,168(1,282)Amortization of unrealized gains on investment securities transferred from available-for-sale to held-to-maturity2830Tax effect(7)(8)Reclassification adjustment for realized gains, net included in net income(1)—Tax effect——Unrealized (losses) gains on securities available-for-sale, net of tax(3,332)3,703Fair value hedging activities:Unrealized gains (losses) on fair value mortgage-backed security hedges307(155)Tax effect(79)40Reclassification adjustment for realized gains included in net income—(1)Tax effect——Unrealized gains (losses) on fair value hedged instruments arising during the period, net of tax228(116)Cash flow hedging activities:Unrealized gains on cash flow hedges99437Tax effect(26)(112)Reclassification adjustment for realized losses included in net income(22)151Tax effect6(39)Unrealized gains on cash flow hedge instruments arising during the period, net of tax57437Total other comprehensive (loss) income(3,047)4,024Comprehensive income$10,633$15,278 The accompanying notes are an integral part of the consolidated financial statements. SMARTFINANCIAL,INC. AND SUBSIDIARYCONSOLIDATED STATEMENT OF CHANGES IN