BUZZ-SmartFinancial rises after Q4 profit beats estimates
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;))
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