# EDGAR Filing Document

**Accession Number:** 0001038773
**File Stem:** 0001558370-23-000426
**Filing Date:** 2023-1
**Character Count:** 101138
**Document Hash:** 7340042ca9294442caefce002b7b900c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001558370-23-000426.hdr.sgml**: 20230123

**ACCESSION NUMBER**: 0001558370-23-000426

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 40

**CONFORMED PERIOD OF REPORT**: 20230123

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230123

**DATE AS OF CHANGE**: 20230123

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SMARTFINANCIAL INC.
- **CENTRAL INDEX KEY:** 0001038773
- **STANDARD INDUSTRIAL CLASSIFICATION:** NATIONAL COMMERCIAL BANKS [6021]
- **IRS NUMBER:** 621173944
- **STATE OF INCORPORATION:** TN
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-37661
- **FILM NUMBER:** 23545183

**BUSINESS ADDRESS:**
- **STREET 1:** 5401 KINGSTON PIKE
- **STREET 2:** SUITE 600
- **CITY:** KNOXVILLE
- **STATE:** TN
- **ZIP:** 37919
- **BUSINESS PHONE:** 866-290-2554

**MAIL ADDRESS:**
- **STREET 1:** 5401 KINGSTON PIKE
- **STREET 2:** SUITE 600
- **CITY:** KNOXVILLE
- **STATE:** TN
- **ZIP:** 37919

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CORNERSTONE BANCSHARES INC
- **DATE OF NAME CHANGE:** 19980402

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** EAST RIDGE BANCSHARES INC
- **DATE OF NAME CHANGE:** 19970507

?xml version='1.0' encoding='UTF-8'?

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**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, DC 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

**Date of earliest event reported:** January 23, 2023

**SMARTFINANCIAL, INC.**

(Exact name of registrant as specified in its charter)

---

| | | |
|:---|:---|:---|
| **Tennessee** | **001-37661** | **62-1173944** |
| (State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) |

---

---

| | |
|:---|:---|
| **5401 Kingston Pike, Suite 600** |  |
| **Knoxville, Tennessee** | **37919** |
| (Address of Principal Executive Offices) | (Zip Code) |

---

---

| |
|:---|
| **(865) 437-5700**  |
| (Registrant's telephone number, including area code) |
| (Former name or former address, if changed since last report) |

---

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading**<br>**Symbol(s)** | **Name of Exchange on which Registered** |
| Common Stock, par value $1.00 per share | SMBK | The Nasdaq Stock Market |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the

Exchange Act. ☐

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| | |
|:---|:---|
| **Item 2.02** | **Results of Operations and Financial Condition.** |

---

On January 23, 2023, SmartFinancial, Inc. ("SmartFinancial") issued a press release (the "Press Release") reporting earnings results for its fourth quarter ending December 31, 2022. A copy of the Press Release is attached hereto as Exhibit 99.1.

In accordance with General Instructions B.2 of Form 8K, the information in Item 2.02 of this report (including Exhibit 99.1) shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

---

| | |
|:---|:---|
| **Item 7.01** | **Regulation FD Disclosure.** |

---

SmartFinancial is filing an investor slide presentation that it intends to review in conjunction with its earnings release conference call on January 24, 2023. The slides are attached hereto as Exhibit 99.2.

In accordance with General Instructions B.2 of Form 8K, the information in Item 7.01 of this report (including Exhibit 99.2) shall not be deemed to be "filed" for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

---

| | |
|:---|:---|
| **Item 9.01** | **Financial Statements and Exhibits** |
| **Exhibit No.** | **Description** |
| 99.1 | [Press release announcing fourth quarter 2022 financial results dated January 23, 2023](smbk-20230123xex99d1.htm) |
| 99.2 | [Fourth quarter 2022 investor presentation](smbk-20230123xex99d2.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | |
|:---|:---|
|  | **SMARTFINANCIAL, INC.** |
| Date: January 23, 2023 |  |
|  | /s/ William Y. Carroll, Jr. |
|  | William Y. Carroll, Jr. |
|  | *President & Chief Executive Officer* |

---

## Exhibit 99.1

**Exhibit 99.1**

![Graphic](smbk-20230123xex99d1003.jpg)

4Q 2022

**SmartFinancial Announces Results for the Fourth Quarter 2022**

**Highlights for the Fourth Quarter of 2022**

● **Operating earnings** <sup>[1](#footnote-2)</sup> **of $12.9 million, or $0.76 per diluted common share** 

● **Operating earnings** <sup>1</sup> **increase of 11% compared to the previous quarter and 48% compared to the same prior year quarter** 

● **Net organic loan and lease growth of over $130.2 million - 17% annualized quarter-over-quarter increase** 

● **Net interest income growth of $904 thousand or 10% annualized quarter-over-quarter increase** 

● **Credit quality remains solid with nonperforming assets to total assets of 0.10%** 

KNOXVILLE, TN – January 23, 2023 - SmartFinancial, Inc. ("SmartFinancial" or the "Company"; NASDAQ: SMBK), today announced net income of $13.0 million, or $0.77 per diluted common share, for the fourth quarter of 2022, compared to net income of $6.7 million, or $0.40 per diluted common share, for the fourth quarter of 2021, and compared to prior quarter net income of $11.5 million, or $0.68 per diluted common share. Operating earnings<sup>1</sup>, which excludes securities gains and merger related and restructuring expenses, net of tax adjustments, totaled $12.9 million, or $0.76 per diluted common share, in the fourth quarter of 2022, compared to $8.7 million, or $0.52 per diluted common share, in the fourth quarter of 2021, and compared to $11.6 million, or $0.69 per diluted common share, in the third quarter of 2022.

Billy Carroll, President & CEO, stated: "I am extremely pleased with our company's results for the quarter and for the year. We wrapped-up 2022 with another record revenue quarter while continuing to gain operating leverage and build on the great work being done to diversify revenue, build out our ancillary lines of business, and maintain outstanding credit metrics. The core momentum our team is building is outstanding and will position us well as we enter 2023."

SmartFinancial's Chairman, Miller Welborn, concluded: "We are very proud of our strong quarter and how we finished 2022. The team did a phenomenal job in all areas. The bank continues to show excellent credit, solid growth and strong profits. We couldn't be more excited about how we are positioned to enter 2023."

**Net Interest Income and Net Interest Margin**

Net interest income was $37.6 million for the fourth quarter of 2022, compared to $36.7 million for the prior quarter. Average earning assets totaled $4.27 billion, a decrease of $177.5 million. The decrease in average earnings assets was primarily driven by a decrease in average interest-earning cash of $264.8 million and average securities of $26.2 million. Partially offsetting the decrease in average earning assets was an increase in average loans and leases of $113.4 million. Average interest-bearing liabilities decreased $123.7 million attributable to a decrease in deposits of $128.9 million, offset by increased borrowings of $5.2 million.

The tax equivalent net interest margin was 3.51% for the fourth quarter of 2022, compared to 3.29% for the prior quarter. The tax equivalent net interest margin was positively impacted by the continued deployment of excess cash and cash equivalents into loans and leases and higher yields on cash deposits held in Federal Reserve System (the "Federal Reserve"). Additionally, the yield on interest-earning assets was positively impacted due to an increase quarter-over-quarter in loan discount accretion of $1.2 million.

The cost of interest-bearing liabilities increased to 1.27% for the fourth quarter of 2022 compared to 0.70% for the prior quarter. The cost of average interest-bearing deposits was 1.18% for the fourth quarter of 2022 compared to 0.62% for the prior quarter, an increase of 56 basis points, primarily attributable to both the impact of rising Federal Reserve rates and increased pricing competition. The cost of total deposits for the fourth quarter of 2022 was 0.85% compared to 0.45% in the prior quarter.

<sup>1</sup> Non-GAAP measure. See "Non-GAAP Financial Measures" for more information and see the Non-GAAP reconciliation

![Graphic](smbk-20230123xex99d1002.jpg)

------

The following table presents selected interest rates and yields for the periods indicated:

---

| | | | |
|:---|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** |  |
|  | Dec | Sep | Increase |
| Selected Interest Rates and Yields | 2022 | 2022 | (Decrease) |
| Yield on loans and leases | 5.05% | 4.59% | 0.46% |
| Yield on earning assets, FTE | 4.41% | 3.79% | 0.62% |
| Cost of interest-bearing deposits | 1.18% | 0.62% | 0.56% |
| Cost of total deposits | 0.85% | 0.45% | 0.40% |
| Cost of interest-bearing liabilities | 1.27% | 0.70% | 0.57% |
| Net interest margin, FTE | 3.51% | 3.29% | 0.22% |

---

**Provision for Loan and Lease Losses and Credit Quality** 

At December 31, 2022, the allowance for loan and lease losses was $23.3 million. The allowance for loan and lease losses to total loans and leases was 0.72% as of December 31, 2022, compared to 0.73% as of September 30, 2022. For the Company's originated loans and leases, the allowance for loan and lease losses to originated loans and leases, less PPP loans, was 0.73% as of December 31, 2022, and 0.75% at September 30, 2022. The remaining discounts on the acquired loan and lease portfolio totaled $13.1 million, or 4.41% of acquired loans and leases as of December 31, 2022.

The following table presents detailed information related to the provision for loan and lease losses for the periods indicated *(dollars in thousands)*:

---

| | | | |
|:---|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** |  |
|  | Dec | Sep |  |
| Provision for Loan and Lease Losses Rollforward | 2022 | 2022 | Change |
| Beginning balance | $22769 | $21938 | $831 |
| &nbsp;&nbsp;Charge-offs | (331) | (231) | (100) |
| &nbsp;&nbsp;Recoveries | 108 | 88 | 20 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net charge-offs | (223) | (143) | (80) |
| &nbsp;&nbsp;Provision | 788 | 974 | (186) |
| Ending balance | $23334 | $22769 | $565 |
| Allowance for loan losses to total loans and leases, gross | 0.72% | 0.73% | (0.01)% |

---

Nonperforming loans and leases as a percentage of total loans and leases was 0.09% as of December 31, 2022, a decrease of 2 basis points from the 0.11% reported in the third quarter of 2022. Total nonperforming assets (which include nonaccrual loans and leases, loans and leases past due 90 days or more and still accruing, other real estate owned and other repossessed assets) as a percentage of total assets was 0.10% as of December 31, 2022, and September 30, 2022, respectively

![Graphic](smbk-20230123xex99d1002.jpg)

------

The following table presents detailed information related to credit quality for the periods indicated *(dollars in thousands)*:

---

| | | | |
|:---|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** |  |
|  | Dec | Sep | Increase |
| Credit Quality | 2022 | 2022 | (Decrease) |
| Nonaccrual loans and leases | $2808 | $3379 | $(571) |
| Loans and leases past due 90 days or more and still accruing | 142 | - | 142 |
| &nbsp;&nbsp;Total nonperforming loans and leases | 2950 | 3379 | (429) |
| Other real estate owned | 1436 | 1226 | 210 |
| Other repossessed assets | 422 | - | 422 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total nonperforming assets | $4808 | $4605 | $203 |
| Nonperforming loans and leases to total loans and leases, gross | 0.09% | 0.11% | (0.02)% |
| Nonperforming assets to total assets | 0.10% | 0.10% | -% |

---

**Noninterest Income**

Noninterest income increased $875 thousand to $7.1 million for the fourth quarter of 2022 compared to $6.3 million for the prior quarter. During the fourth quarter of 2022, the primary components of the changes in noninterest income were as follows:

● Decrease in service charges on deposit accounts, related to lower volume of transaction fees;

● Net gain on sale of securities and dissolution of associated derivative instrument;

● Increase in insurance commissions, driven by the addition of Sunbelt Group, LLC ("Sunbelt") and organic growth; and

● Increase in other, primarily related to increased fees from capital markets activity.

The following table presents detailed information related to noninterest income for the periods indicated *(dollars in thousands)*:

---

| | | | |
|:---|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** |  |
|  | Dec | Sep | Increase |
| Noninterest Income | 2022 | 2022 | (Decrease) |
| Service charges on deposit accounts | $1477 | $1611 | $(134) |
| Gain (loss) on sale of securities, net | 144 | - | 144 |
| Mortgage banking income | 77 | 170 | (93) |
| Investment services | 958 | 1051 | (93) |
| Insurance commissions | 1233 | 864 | 369 |
| Interchange and debit card transaction fees | 1328 | 1356 | (28) |
| Other | 1908 | 1198 | 710 |
| &nbsp;&nbsp;Total noninterest income | $7125 | $6250 | $875 |

---

![Graphic](smbk-20230123xex99d1002.jpg)

------

**Noninterest Expense**

Noninterest expense increased $186 thousand to $27.4 million for the fourth quarter of 2022 compared to $27.2 million for the prior quarter. During the fourth quarter of 2022, the primary components of the changes in noninterest expense were as follows:

● Decrease in occupancy and equipment as a result of lower utility expenses (seasonality);

● Increase in data processing and technology as a result of enhancements to core systems; and

● Increase in professional services, related to higher audit expenses.

The following table presents detailed information related to noninterest expense for the periods indicated *(dollars in thousands)*:

---

| | | | |
|:---|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** |  |
|  | Dec | Sep | Increase |
| Noninterest Expense | 2022 | 2022 | (Decrease) |
| Salaries and employee benefits | $16384 | $16317 | $67 |
| Occupancy and equipment | 3015 | 3167 | (152) |
| FDIC insurance | 650 | 705 | (55) |
| Other real estate and loan related expenses  | 517 | 565 | (48) |
| Advertising and marketing | 308 | 288 | 20 |
| Data processing and technology | 2097 | 1872 | 225 |
| Professional services | 981 | 822 | 159 |
| Amortization of intangibles | 688 | 650 | 38 |
| Merger related and restructuring expenses | (45) | 87 | (132) |
| Other | 2821 | 2757 | 64 |
| &nbsp;&nbsp;Total noninterest expense | $27416 | $27230 | $186 |

---

**Income Tax Expense**

Income tax expense was $3.5 million for the fourth quarter of 2022, an increase of $318 thousand, compared to $3.2 million for the prior quarter.

The effective tax rate was 21.35% for the fourth quarter of 2022 and 21.76% for the prior quarter.

**Balance Sheet Trends**

Total assets were $4.61 billion at December 31, 2022 and 2021, respectively. Total assets remained unchanged period-over-period; however, the bank experienced a shift in its asset mix during the fourth quarter 2022. The Company had increases primarily in the following categories: loans and leases, net of $531.7 million, securities of $210.4 million, premises and equipment of $6.6 million, goodwill and other intangibles, net of $3.9 million, attributable to Sunbelt purchase and other assets of $30.2 million. These increases were offset by a decrease in cash and cash equivalents of $778.7 million, primarily from the funding of loans and leases and purchase of securities.

Total liabilities were $4.18 billion for the periods ended December 31, 2022 and 2021, respectively. Total liabilities remained unchanged period-over-period; however, the bank experienced organic deposit growth of $55.2 million and a decrease in borrowings of $70.3 million.

Shareholders' equity at December 31, 2022 totaled $432.5 million, an increase of $3.0 million, from December 31, 2021. The increase in shareholders' equity was primarily driven by net income of $43.0 million for the year ended December 31, 2022, offset by the negative impact on accumulated other comprehensive income (loss) of $36.8 million and dividends paid of $4.7 million. Tangible book value per share<sup>[1](#footnote-3)</sup> was $19.09 at December 31, 2022, compared to $19.26 at December 31, 2021. Tangible common equity<sup>1</sup> as a percentage of tangible assets<sup>1</sup> was 7.17% at December 31, 2022, compared with 7.18% at December 31, 2021.

<sup>1</sup> Non-GAAP measure. See "Non-GAAP Financial Measures" for more information and see the Non-GAAP reconciliation

![Graphic](smbk-20230123xex99d1002.jpg)

------

The following table presents selected balance sheet information for the periods indicated *(dollars in thousands)*:

---

| | | | |
|:---|:---|:---|:---|
|  | Dec | Dec | Increase |
| Selected Balance Sheet Information | 2022 | 2021 | (Decrease) |
| Total assets | $4612913 | $4611579 | $1334 |
| Total liabilities | 4180461 | 4182149 | (1688) |
| Total equity | 432452 | 429430 | 3022 |
| Securities | 769842 | 559422 | 210420 |
| Loans and leases | 3229042 | 2693397 | 535645 |
| Deposits | 4077100 | 4021938 | 55162 |
| Borrowings | 17275 | 87585 | (70310) |

---

**Conference Call Information**

SmartFinancial issued this earnings release for the fourth quarter of 2022 on Monday, January 23, 2023, and will host a conference call on Tuesday, January 24, 2023, at 10:00 a.m. ET. To access this interactive teleconference, dial (844) 200-6205 or (646) 904-5544 and entering the access code, **179408**. A replay of the conference call will be available through March 25, 2023, by dialing (866) 813-9403 or (929) 458-6194 and entering the access code, **675735.** Conference call materials will be published on the Company's webpage located at http://www.smartfinancialinc.com/CorporateProfile, at 9:00 a.m. ET prior to the conference call.

**About SmartFinancial, Inc.**

SmartFinancial, Inc., based in Knoxville, Tennessee, is the bank holding company for SmartBank. SmartBank is a full-service commercial bank founded in 2007, with branches across Tennessee, Alabama, and the Florida Panhandle. Recruiting the best people, delivering exceptional client service, strategic branching, and a disciplined approach to lending have contributed to SmartBank's success. More information about SmartFinancial can be found on its website: www.smartfinancialinc.com.

---

| |
|:---|
| **Source** |
| SmartFinancial, Inc. |
| **Investor Contacts** |
| Billy Carroll |
| President & CEO |
| (865) 868-0613 billy.carroll@smartbank.com |
| Ron Gorczynski |
| Executive Vice President, Chief Financial Officer |
| (865) 437-5724 ron.gorczynski@smartbank.com |
| **Media Contact** |
| Kelley Fowler |
| Senior Vice President, Public Relations & Marketing |
| (865) 868-0611&nbsp;&nbsp;&nbsp;&nbsp;kelley.fowler@smartbank.com |

---

![Graphic](smbk-20230123xex99d1002.jpg)

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***Non-GAAP Financial Measures***

*Statements included in this earnings release include measures not recognized under U.S. generally accepted accounting principles ("GAAP") and therefore are considered non-GAAP financial measures and should be read along with the accompanying tables, which provide a reconciliation of Non-GAAP financial measures to GAAP financial measures. SmartFinancial management uses several Non-GAAP financial measures, including: (i) operating earnings, (ii) operating return on average assets, (iii) operating pre-tax pre-provision return on average assets, (iv) operating return on average shareholders' equity, (v) return on average tangible common equity, (vi) operating return on average tangible common equity, (vii) operating efficiency ratio, (viii) operating noninterest income, (ix) operating pre-tax pre-provision earnings (x) operating noninterest expense, (xi) tangible common equity, (xii) average tangible common equity, (xiii) tangible book value; (xiv) tangible assets; and ratios derived therefrom, in its analysis of the company's performance. Operating earnings excludes the following from net income: securities gains and losses and merger related and restructuring expenses. Operating return on average assets is the annualized operating earnings (Non-GAAP) divided by average assets. Operating pre-tax pre-provision return on average assets is the annualized operating pre-tax pre-provision income earnings (Non-GAAP) by average assets. Operating return on average shareholders' equity is the annualized operating earnings (Non-GAAP) divided by average equity. Return on average tangible common equity is the annualized net income divided by average tangible common equity (Non-GAAP). Operating return on average tangible common equity is the annualized operating earnings (Non-GAAP) divided by average tangible common equity (Non-GAAP). The operating efficiency ratio includes an adjustment for taxable equivalent yields and excludes securities gains and losses and merger related and restructuring expenses from the efficiency ratio. Operating noninterest income excludes the following from noninterest income: securities gains and losses. Operating pre-tax pre-provision earnings is net interest income plus operating noninterest income (Non-GAAP) less operating noninterest expense (Non-GAAP). Operating noninterest expense excludes the following from noninterest expense: prior year adjustments to salaries, merger related and restructuring expenses and certain franchise tax true-up expenses. Tangible common equity (Non-GAAP) and average tangible common equity (Non-GAAP) excludes goodwill and other intangible assets from shareholders' equity and average shareholders' equity, respectively. Tangible book value (Non-GAAP) is tangible common equity (Non-GAAP) divided by common shares outstanding. Tangible assets (Non-GAAP) excludes goodwill and other intangibles from total assets. Management believes that Non-GAAP financial measures provide additional useful information that allows investors to evaluate the ongoing performance of the company and provide meaningful comparisons to its peers. Management believes these Non-GAAP financial measures also enhance investors' ability to compare period-to-period financial results and allow investors and company management to view our operating results excluding the impact of items that are not reflective of the underlying operating performance. Non-GAAP financial measures should not be considered as an alternative to any measure of performance or financial condition as promulgated under GAAP, and investors should consider SmartFinancial's performance and financial condition as reported under GAAP and all other relevant information when assessing the performance or financial condition of the company. Non-GAAP financial measures have limitations as analytical tools, and investors should not consider them in isolation or as a substitute for analysis of the results or financial condition as reported under GAAP.*

![Graphic](smbk-20230123xex99d1002.jpg)

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***Forward-Looking Statements***

*This news release may contain statements that are based on management's current estimates or expectations of future events or future results, and that may be deemed to constitute forward-looking statements as defined under the Private Securities Litigation Reform Act of 1995. These statements, including statements regarding the effects of the COVID-19 pandemic and related variants on the Company's business and financial results and conditions, are not historical in nature and can generally be identified by such words as "expect," "anticipate," "intend," "plan," "believe," "seek," "may," "estimate," and similar expressions. All forward-looking statements are subject to risks, uncertainties, and other factors that may cause the actual results of SmartFinancial to differ materially from future results expressed or implied by such forward-looking statements. Such risks, uncertainties, and other factors include, among others, (1) risks associated with our growth strategy, including a failure to implement our growth plans or an inability to manage our growth effectively; (2) claims and litigation arising from our business activities and from the companies we acquire, which may relate to contractual issues, environmental laws, fiduciary responsibility, and other matters; (3) the risk that cost savings and revenue synergies from recently completed acquisitions may not be realized or may take longer than anticipated to realize; (4) disruption from recently completed acquisitions with customer, supplier, employee, or other business relationships; (5) our ability to successfully integrate the businesses acquired as part of previous acquisitions with the business of SmartBank; (6) changes in management's plans for the future; (7) prevailing, or changes in, economic or political conditions, particularly in our market areas, including the effects of declines in the real estate market, high unemployment rates, inflationary pressures, elevated interest rates and slowdowns in economic growth, as well as the financial stress on borrowers as a result of the foregoing; (8) a deterioration of the credit rating for U.S. long-term sovereign debt, actions that the U.S. government may take to avoid exceeding the debt ceiling, or uncertainties surrounding the debt ceiling and the federal budget; (9) credit risk associated with our lending activities; (10) changes in loan demand, real estate values, or competition; (11) developments in our mortgage banking business, including loan modifications, general demand, and the effects of judicial or regulatory requirements or guidance; (12) changes in accounting principles, policies, or guidelines; (13) changes in applicable laws, rules, or regulations; (14) adverse results from current or future litigation, regulatory examinations or other legal and/or regulatory actions, including as a result of the Company's participation in and execution of government programs related to the COVID-19 pandemic and related variants; (15) the impact of the COVID-19 pandemic and related variants on the Company's assets, business, cash flows, financial condition, liquidity, prospects and results of operations; (16) significant turbulence or a disruption in the capital or financial markets and the effect of a fall in stock market prices on our investment securities; (17) the effects of war or other conflicts including the impacts related to or resulting from Russia's military action in Ukraine; and (18) other general competitive, economic, political, and market factors, including those affecting our business, operations, pricing, products, or services. These and other factors that could cause results to differ materially from those described in the forward-looking statements can be found in SmartFinancial's most recent annual report on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K, in each case filed with or furnished to the Securities and Exchange Commission (the "SEC") and available on the SEC's website (www.sec.gov). Undue reliance should not be placed on forward-looking statements. SmartFinancial disclaims any obligation to update or revise any forward-looking statements contained in this release, which speak only as of the date hereof, whether as a result of new information, future events, or otherwise.*

![Graphic](smbk-20230123xex99d1002.jpg)

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**SmartFinancial, Inc. and Subsidiary**

**Condensed Consolidated Financial Information - (unaudited)**

**(dollars in thousands)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Ending Balances** | **Ending Balances** | **Ending Balances** | **Ending Balances** | **Ending Balances** |
|  | Dec<br>2022 | Sep<br>2022 | Jun<br>2022 | Mar<br>2022 | Dec<br>2021 |
| **Assets:** |  |  |  |  |  |
| &nbsp;&nbsp;Cash and cash equivalents | $266424 | $543029 | $654945 | $763968 | $1045077 |
| &nbsp;&nbsp;Securities available-for-sale, at fair value | 483893 | 519723 | 524864 | 540483 | 482453 |
| &nbsp;&nbsp;Securities held-to-maturity, at amortized cost | 285949 | 287104 | 288363 | 289532 | 76969 |
| &nbsp;&nbsp;Other investments | 15530 | 15528 | 16569 | 16499 | 16494 |
| &nbsp;&nbsp;Loans held for sale | 1752 | 2742 | 1707 | 5894 | 5103 |
| &nbsp;&nbsp;Loans and leases | 3229042 | 3099116 | 2994074 | 2806026 | 2693397 |
| &nbsp;&nbsp;Less: Allowance for loan and lease losses | (23334) | (22769) | (21938) | (20078) | (19352) |
| &nbsp;&nbsp;&nbsp;&nbsp;Loans and leases, net | 3205708 | 3076347 | 2972136 | 2785948 | 2674045 |
| &nbsp;&nbsp;Premises and equipment, net | 92511 | 91944 | 89950 | 84793 | 85958 |
| &nbsp;&nbsp;Other real estate owned | 1436 | 1226 | 1612 | 1612 | 1780 |
| &nbsp;&nbsp;Goodwill and other intangibles, net | 109772 | 110460 | 104582 | 105215 | 105852 |
| &nbsp;&nbsp;Bank owned life insurance | 81470 | 81001 | 80537 | 80074 | 79619 |
| &nbsp;&nbsp;Other assets | 68468 | 67807 | 52848 | 44561 | 38229 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total assets | $4612913 | $4796911 | $4788113 | $4718579 | $4611579 |
| **Liabilities:** |  |  |  |  |  |
| &nbsp;&nbsp;**Deposits:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Noninterest-bearing demand | $1072449 | $1186209 | $1162843 | $1093933 | $1055125 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest-bearing demand | 965911 | 962901 | 999893 | 975272 | 899158 |
| &nbsp;&nbsp;&nbsp;&nbsp;Money market and savings | 1583481 | 1663355 | 1607714 | 1573101 | 1493007 |
| &nbsp;&nbsp;&nbsp;&nbsp;Time deposits | 455259 | 467944 | 511182 | 549047 | 574648 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total deposits | 4077100 | 4280409 | 4281632 | 4191353 | 4021938 |
| &nbsp;&nbsp;Borrowings | 17275 | 18423 | 12549 | 36713 | 87585 |
| &nbsp;&nbsp;Subordinated debt | 42015 | 41994 | 41973 | 41952 | 41930 |
| &nbsp;&nbsp;Other liabilities | 44071 | 41374 | 31532 | 28519 | 30696 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 4180461 | 4382200 | 4367686 | 4298537 | 4182149 |
| **Shareholders' Equity:** |  |  |  |  |  |
| &nbsp;&nbsp;Common stock | 16901 | 16888 | 16898 | 16893 | 16803 |
| &nbsp;&nbsp;Additional paid-in capital | 294330 | 293907 | 293815 | 293376 | 292937 |
| &nbsp;&nbsp;Retained earnings | 156545 | 144723 | 134362 | 125329 | 118247 |
| &nbsp;&nbsp;Accumulated other comprehensive income (loss) | (35324) | (40807) | (24648) | (15556) | 1443 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total shareholders' equity | 432452 | 414711 | 420427 | 420042 | 429430 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total liabilities & shareholders' equity | $4612913 | $4796911 | $4788113 | $4718579 | $4611579 |

---

![Graphic](smbk-20230123xex99d1002.jpg)

------

**SmartFinancial, Inc. and Subsidiary**

**Condensed Consolidated Financial Information - (unaudited)**

**(dollars in thousands except share and per share data)**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Three Months Ended**  | **Three Months Ended**  | **Three Months Ended**  | **Three Months Ended**  | **Three Months Ended**  | **Year Ended**  | **Year Ended**  |
|  | Dec<br>2022 | Sep<br>2022 | June<br>2022 | Mar<br>2022 | Dec<br>2021 | Dec<br>2022 | Dec<br>2021 |
| **Interest income:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Loans and leases, including fees | $40082 | $35127 | $31530 | $29643 | $30567 | $136381 | $118582 |
| &nbsp;&nbsp;&nbsp;Investment securities: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taxable | 3337 | 3135 | 2908 | 2418 | 1341 | 11799 | 3813 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tax-exempt | 797 | 561 | 441 | 368 | 322 | 2166 | 1215 |
| &nbsp;&nbsp;&nbsp;Federal funds sold and other earning assets | 3098 | 3474 | 1430 | 486 | 547 | 8488 | 1622 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest income | 47314 | 42297 | 36309 | 32915 | 32777 | 158834 | 125232 |
| **Interest expense:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Deposits | 8844 | 4866 | 2504 | 2014 | 2116 | 18228 | 8849 |
| &nbsp;&nbsp;&nbsp;Borrowings | 232 | 97 | 117 | 157 | 180 | 602 | 540 |
| &nbsp;&nbsp;&nbsp;Subordinated debt | 626 | 626 | 626 | 626 | 626 | 2503 | 2449 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest expense | 9702 | 5589 | 3247 | 2797 | 2922 | 21333 | 11838 |
| Net interest income | 37612 | 36708 | 33062 | 30118 | 29855 | 137501 | 113394 |
| **Provision for loan and lease losses** | 788 | 974 | 1250 | 1006 | 422 | 4018 | 1633 |
| **Net interest income after provision for loan and lease losses** | 36824 | 35734 | 31812 | 29112 | 29433 | 133483 | 111761 |
| **Noninterest income:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Service charges on deposit accounts | 1477 | 1611 | 1446 | 1319 | 1372 | 5853 | 4650 |
| &nbsp;&nbsp;&nbsp;Gain (loss) on sale of securities, net | 144 |  |  |  |  | 144 | 45 |
| &nbsp;&nbsp;&nbsp;Mortgage banking | 77 | 170 | 471 | 834 | 803 | 1552 | 4040 |
| &nbsp;&nbsp;&nbsp;Investment services | 958 | 1051 | 1065 | 1070 | 621 | 4144 | 2167 |
| &nbsp;&nbsp;&nbsp;Insurance commissions | 1233 | 864 | 598 | 901 | 517 | 3595 | 3285 |
| &nbsp;&nbsp;&nbsp;Interchange and debit card transaction fees | 1328 | 1356 | 1467 | 1284 | 1445 | 5435 | 4284 |
| &nbsp;&nbsp;&nbsp;Other | 1908 | 1198 | 2182 | 1703 | 2048 | 6992 | 5478 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total noninterest income | 7125 | 6250 | 7229 | 7111 | 6806 | 27715 | 23949 |
| **Noninterest expense:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Salaries and employee benefits | 16384 | 16317 | 15673 | 15046 | 14990 | 63420 | 51656 |
| &nbsp;&nbsp;&nbsp;Occupancy and equipment | 3015 | 3167 | 2793 | 3059 | 3026 | 12034 | 10196 |
| &nbsp;&nbsp;&nbsp;FDIC insurance  | 650 | 705 | 676 | 641 | 567 | 2672 | 1833 |
| &nbsp;&nbsp;&nbsp;Other real estate and loan related expense | 517 | 565 | 636 | 729 | 583 | 2446 | 2098 |
| &nbsp;&nbsp;&nbsp;Advertising and marketing | 308 | 288 | 327 | 369 | 176 | 1293 | 830 |
| &nbsp;&nbsp;&nbsp;Data processing and technology | 2097 | 1872 | 1728 | 1586 | 1722 | 7283 | 6364 |
| &nbsp;&nbsp;&nbsp;Professional services | 981 | 822 | 745 | 1242 | 847 | 3790 | 3147 |
| &nbsp;&nbsp;&nbsp;Amortization of intangibles | 688 | 650 | 633 | 637 | 660 | 2607 | 2256 |
| &nbsp;&nbsp;&nbsp;Merger related and restructuring expenses | (45) | 87 | 81 | 439 | 2762 | 562 | 3701 |
| &nbsp;&nbsp;&nbsp;Other | 2821 | 2757 | 2634 | 1970 | 2490 | 10183 | 9310 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total noninterest expense | 27416 | 27230 | 25926 | 25718 | 27823 | 106290 | 91391 |
| **Income before income taxes** | 16533 | 14754 | 13115 | 10505 | 8416 | 54908 | 44319 |
| Income tax expense | 3529 | 3211 | 2900 | 2246 | 1761 | 11886 | 9529 |
| **Net income** | $13004 | $11543 | $10215 | $8259 | $6655 | $43022 | $34790 |
| **Earnings per common share:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Basic | $0.78 | $0.69 | $0.61 | $0.49 | $0.40 | $2.57 | $2.23 |
| &nbsp;&nbsp;&nbsp;Diluted | $0.77 | $0.68 | $0.61 | $0.49 | $0.40 | $2.55 | $2.22 |
| **Weighted average common shares outstanding:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Basic | 16758706 | 16749255 | 16734930 | 16718371 | 16699010 | 16740450 | 15572537 |
| &nbsp;&nbsp;&nbsp;Diluted | 16884253 | 16872022 | 16867774 | 16858288 | 16846315 | 16871369 | 15699215 |

---

![Graphic](smbk-20230123xex99d1002.jpg)

------

**SmartFinancial, Inc. and Subsidiary**

**Condensed Consolidated Financial Information - (unaudited)**

**(dollars in thousands)**

**YIELD ANALYSIS**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Three Months Ended**  | **Three Months Ended**  | **Three Months Ended**  | **Three Months Ended**  | **Three Months Ended**  | **Three Months Ended**  | **Three Months Ended**  | **Three Months Ended**  | **Three Months Ended**  |
|  | December 31, 2022 | December 31, 2022 | December 31, 2022 | September 30, 2022 | September 30, 2022 | September 30, 2022 | December 31, 2021 | December 31, 2021 | December 31, 2021 |
|  | Average<br>Balance | <br>Interest | Yield/<br>Cost | Average<br>Balance | <br>Interest | Yield/<br>Cost | Average<br>Balance | <br>Interest | Yield/<br>Cost |
| **Assets:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Loans and leases, including fees<sup>1</sup> | $3150493 | $40082 | 5.05% | $3037092 | $35127 | 4.59% | $2675059 | $30567 | 4.53% |
| &nbsp;&nbsp;Taxable securities | 701787 | 3337 | 1.89% | 720114 | 3135 | 1.73% | 339371 | 1341 | 1.57% |
| &nbsp;&nbsp;Tax-exempt securities<sup>2</sup> | 93721 | 958 | 4.06% | 101559 | 732 | 2.86% | 102989 | 479 | 1.85% |
| &nbsp;&nbsp;Federal funds sold and other earning assets | 322970 | 3098 | 3.81% | 587755 | 3474 | 2.34% | 965899 | 547 | 0.22% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total interest-earning assets | 4268971 | 47475 | 4.41% | 4446520 | 42468 | 3.79% | 4083318 | 32934 | 3.20% |
| &nbsp;&nbsp;Noninterest-earning assets | 372864 |  |  | 362869 |  |  | 383783 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total assets | $4641835 |  |  | $4809389 |  |  | $4467101 |  |  |
| **Liabilities and Shareholders' Equity:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Interest-bearing demand deposits | $924320 | 3141 | 1.35% | $966437 | 1956 | 0.80% | $853763 | 403 | 0.19% |
| &nbsp;&nbsp;Money market and savings deposits | 1587688 | 4855 | 1.21% | 1632510 | 2298 | 0.56% | 1428472 | 920 | 0.26% |
| &nbsp;&nbsp;Time deposits | 459996 | 848 | 0.73% | 501919 | 612 | 0.48% | 583165 | 793 | 0.54% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing deposits | 2972004 | 8844 | 1.18% | 3100866 | 4866 | 0.62% | 2865400 | 2116 | 0.29% |
| &nbsp;&nbsp;Borrowings | 18309 | 232 | 5.03% | 13141 | 97 | 2.93% | 88828 | 180 | 0.80% |
| &nbsp;&nbsp;Subordinated debt | 42002 | 626 | 5.91% | 41980 | 626 | 5.91% | 41917 | 626 | 5.92% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing liabilities | 3032315 | 9702 | 1.27% | 3155987 | 5589 | 0.70% | 2996145 | 2922 | 0.39% |
| &nbsp;&nbsp;Noninterest-bearing deposits | 1146374 |  |  | 1192813 |  |  | 1016438 |  |  |
| &nbsp;&nbsp;Other liabilities | 43109 |  |  | 35224 |  |  | 27710 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 4221798 |  |  | 4384024 |  |  | 4040293 |  |  |
| &nbsp;&nbsp;Shareholders' equity | 420037 |  |  | 425365 |  |  | 426808 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and shareholders' equity | $4641835 |  |  | $4809389 |  |  | $4467101 |  |  |
| &nbsp;&nbsp;Net interest income, taxable equivalent |  | $37773 |  |  | $36879 |  |  | $30012 |  |
| &nbsp;&nbsp;Interest rate spread |  |  | 3.14% |  |  | 3.09% |  |  | 2.81% |
| &nbsp;&nbsp;Tax equivalent net interest margin |  |  | 3.51% |  |  | 3.29% |  |  | 2.92% |
| &nbsp;&nbsp;Percentage of average interest-earning assets to average interest-bearing liabilities |  |  | 140.78% |  |  | 140.89% |  |  | 136.29% |
| &nbsp;&nbsp;Percentage of average equity to average assets |  |  | 9.05% |  |  | 8.84% |  |  | 9.55% |

---

<sup>1</sup> Includes average balance of $3.3 million, $4.8 million, and $80.5 million in PPP loans for the quarters ended December 31, 2022, September 30, 2022, and December 31, 2021, respectively.

<sup>2</sup> Yields computed on tax-exempt instruments on a tax equivalent basis include $161 thousand, $171 thousand and $156 thousand of taxable equivalent income for the quarters ended December 31, 2022, September 30, 2022 and December 31, 2021, respectively.

![Graphic](smbk-20230123xex99d1002.jpg)

------

**SmartFinancial, Inc. and Subsidiary**

**Condensed Consolidated Financial Information - (unaudited)**

**(dollars in thousands)**

**YIELD ANALYSIS**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Year Ended**  | **Year Ended**  | **Year Ended**  | **Year Ended**  | **Year Ended**  | **Year Ended**  |
|  | December 31, 2022 | December 31, 2022 | December 31, 2022 | December 31, 2021 | December 31, 2021 | December 31, 2021 |
|  | Average<br>Balance | <br>Interest | Yield/<br>Cost | Average<br>Balance | <br>Interest | Yield/<br>Cost |
| **Assets:** |  |  |  |  |  |  |
| &nbsp;&nbsp;Loans and leases, including fees<sup>1</sup> | $2948511 | $136381 | 4.63% | $2540577 | $118582 | 4.67% |
| &nbsp;&nbsp;Taxable securities | 688428 | 11799 | 1.71% | 207459 | 3813 | 1.84% |
| &nbsp;&nbsp;Tax-exempt securities<sup>2</sup> | 100566 | 2831 | 2.82% | 92708 | 1817 | 1.96% |
| &nbsp;&nbsp;Federal funds sold and other earning assets | 577593 | 8488 | 1.47% | 680909 | 1622 | 0.24% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total interest-earning assets | 4315098 | 159499 | 3.70% | 3521653 | 125834 | 3.57% |
| &nbsp;&nbsp;Noninterest-earning assets | 373026 |  |  | 317457 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total assets | $4688124 |  |  | $3839110 |  |  |
| **Liabilities and Shareholders' Equity:** |  |  |  |  |  |  |
| &nbsp;&nbsp;Interest-bearing demand deposits | $945414 | 6278 | 0.66% | $737251 | 1378 | 0.19% |
| &nbsp;&nbsp;Money market and savings deposits | 1576170 | 9137 | 0.58% | 1191916 | 3501 | 0.29% |
| &nbsp;&nbsp;Time deposits | 513416 | 2813 | 0.55% | 533994 | 3970 | 0.74% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing deposits | 3035000 | 18228 | 0.60% | 2463161 | 8849 | 0.36% |
| &nbsp;&nbsp;Borrowings | 32986 | 602 | 1.83% | 83105 | 540 | 0.65% |
| &nbsp;&nbsp;Subordinated debt | 41970 | 2503 | 5.96% | 40221 | 2449 | 6.09% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing liabilities | 3109956 | 21333 | 0.69% | 2586487 | 11838 | 0.46% |
| &nbsp;&nbsp;Noninterest-bearing deposits | 1120555 |  |  | 841746 |  |  |
| &nbsp;&nbsp;Other liabilities | 34361 |  |  | 23189 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 4264872 |  |  | 3451422 |  |  |
| &nbsp;&nbsp;Shareholders' equity | 423252 |  |  | 387688 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and shareholders' equity | $4688124 |  |  | $3839110 |  |  |
| &nbsp;&nbsp;Net interest income, taxable equivalent |  | $138166 |  |  | $113996 |  |
| &nbsp;&nbsp;Interest rate spread |  |  | 3.01% |  |  | 3.12% |
| &nbsp;&nbsp;Tax equivalent net interest margin |  |  | 3.20% |  |  | 3.24% |
| &nbsp;&nbsp;Percentage of average interest-earning assets to average interest-bearing liabilities |  |  | 138.75% |  |  | 136.16% |
| &nbsp;&nbsp;Percentage of average equity to average assets |  |  | 9.03% |  |  | 10.10% |

---

<sup>1</sup> Includes average balance of $14.1 million and $196.1 million in PPP loans for the year ended December 31, 2022, and 2021, respectively.

<sup>2</sup> Yields computed on tax-exempt instruments on a tax equivalent basis include $665 thousand and $602 thousand of taxable equivalent income for the year ended December 31, 2022, and 2021, respectively.

![Graphic](smbk-20230123xex99d1002.jpg)

------

**SmartFinancial, Inc. and Subsidiary**

**Condensed Consolidated Financial Information - (unaudited)**

**(dollars in thousands)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **As of and for The Three Months Ended**  | **As of and for The Three Months Ended**  | **As of and for The Three Months Ended**  | **As of and for The Three Months Ended**  | **As of and for The Three Months Ended**  |
|  | Dec<br>2022 | Sep<br>2022 | Jun<br>2022 | Mar<br>2022 | Dec<br>2021 |
| **Composition of Loans and Leases:** |  |  |  |  |  |
| &nbsp;&nbsp;Commercial real estate: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;owner occupied | $759456 | $714734 | $684250 | $612675 | $590064 |
| &nbsp;&nbsp;&nbsp;&nbsp;non-owner occupied | 843720 | 822317 | 850338 | 863181 | 794092 |
| &nbsp;&nbsp;Commercial real estate, total | 1603176 | 1537051 | 1534588 | 1475856 | 1384156 |
| &nbsp;&nbsp;Commercial & industrial | 551867 | 514280 | 483588 | 461153 | 488024 |
| &nbsp;&nbsp;Construction & land development | 402501 | 405007 | 364368 | 314654 | 278386 |
| &nbsp;&nbsp;Consumer real estate | 587977 | 562408 | 533582 | 483229 | 477272 |
| &nbsp;&nbsp;Leases | 67427 | 64798 | 63264 | 59892 | 53708 |
| &nbsp;&nbsp;Consumer and other | 16094 | 15572 | 14684 | 11242 | 11851 |
| &nbsp;&nbsp;Total loans and leases | $3229042 | $3099116 | $2994074 | $2806026 | $2693397 |
| **Asset Quality and Additional Loan Data:** |  |  |  |  |  |
| &nbsp;&nbsp;Nonperforming loans and leases | $2950 | $3379 | $3413 | $3342 | $3188 |
| &nbsp;&nbsp;Other real estate owned | 1436 | 1226 | 1612 | 1612 | 1780 |
| &nbsp;&nbsp;Other repossessed assets | 422 |  | 17 | 27 | 90 |
| &nbsp;&nbsp;Total nonperforming assets | $4808 | $4605 | $5042 | $4981 | $5058 |
| &nbsp;&nbsp;Restructured loans and leases not included in nonperforming loans and leases | $101 | $108 | $678 | $625 | $206 |
| &nbsp;&nbsp;Net charge-offs to average loans and leases (annualized) | 0.03% | 0.02% | (0.09)% | 0.04% | 0.05% |
| &nbsp;&nbsp;Allowance for loan and leases losses to loans and leases | 0.72% | 0.73% | 0.73% | 0.72% | 0.72% |
| &nbsp;&nbsp;Nonperforming loans and leases to total loans and leases, gross | 0.09% | 0.11% | 0.11% | 0.12% | 0.12% |
| &nbsp;&nbsp;Nonperforming assets to total assets | 0.10% | 0.10% | 0.11% | 0.11% | 0.11% |
| &nbsp;&nbsp;Acquired loan and lease fair value discount balance | $13128 | $14465 | $14737 | $14913 | $15483 |
| &nbsp;&nbsp;Accretion income on acquired loans and leases | 1396 | 148 | 225 | 389 | 457 |
| &nbsp;&nbsp;PPP net fees deferred balance | 122 | 140 | 301 | 972 | 2038 |
| &nbsp;&nbsp;PPP net fees recognized | 17 | 163 | 669 | 1066 | 1725 |
| **Capital Ratios:** |  |  |  |  |  |
| &nbsp;&nbsp;Equity to Assets | 9.37% | 8.65% | 8.78% | 8.90% | 9.31% |
| &nbsp;&nbsp;Tangible common equity to tangible assets (Non-GAAP)<sup>1</sup> | 7.17% | 6.49% | 6.74% | 6.82% | 7.18% |
| &nbsp;&nbsp;**SmartFinancial, Inc.**<sup>2</sup> |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Tier 1 leverage | 7.95% | 7.40% | 7.48% | 7.41% | 7.45% |
| &nbsp;&nbsp;&nbsp;&nbsp;Common equity Tier 1 | 9.73% | 9.65% | 9.95% | 10.30% | 10.56% |
| &nbsp;&nbsp;&nbsp;&nbsp;Tier 1 capital | 9.73% | 9.65% | 9.95% | 10.30% | 10.56% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total capital | 11.49% | 11.44% | 11.80% | 12.22% | 12.55% |
| &nbsp;&nbsp;**SmartBank** | &nbsp;&nbsp;**Estimated**<sup>3</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Tier 1 leverage | 8.90% | 8.27% | 8.33% | 8.24% | 8.23% |
| &nbsp;&nbsp;&nbsp;&nbsp;Common equity Tier 1 | 10.90% | 10.78% | 11.08% | 11.46% | 11.66% |
| &nbsp;&nbsp;&nbsp;&nbsp;Tier 1 capital | 10.90% | 10.78% | 11.08% | 11.46% | 11.66% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total capital | 11.53% | 11.41% | 11.72% | 12.08% | 12.29% |

---

<sup>1</sup>Total common equity less intangibles divided by total assets less intangibles. See reconciliation of Non-GAAP measures.

<sup>2</sup>All periods presented are estimated.

<sup>3</sup> Current period capital ratios are estimated as of the date of this earnings release.

![Graphic](smbk-20230123xex99d1002.jpg)

------

**SmartFinancial, Inc. and Subsidiary**

**Condensed Consolidated Financial Information - (unaudited)**

**(dollars in thousands except share and per share data)**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **As of and for The** | **As of and for The** | **As of and for The** | **As of and for The** | **As of and for The** | **As of and for The** | **As of and for The** |
|  | **Three Months Ended**  | **Three Months Ended**  | **Three Months Ended**  | **Three Months Ended**  | **Three Months Ended**  | **Year Ended**  | **Year Ended**  |
|  | Dec<br>2022 | Sep<br>2022 | Jun<br>2022 | Mar<br>2022 | Dec<br>2021 | Dec<br>2022 | Dec<br>2021 |
| **Selected Performance Ratios (Annualized):** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Return on average assets | 1.11% | 0.95% | 0.87% | 0.73% | 0.59% | 0.92% | 0.91% |
| &nbsp;&nbsp;Return on average shareholders' equity | 12.28% | 10.77% | 9.76% | 7.83% | 6.19% | 10.16% | 8.97% |
| &nbsp;&nbsp;Return on average tangible common equity¹ | 16.65% | 14.36% | 13.02% | 10.39% | 8.18% | 13.60% | 11.84% |
| &nbsp;&nbsp;Noninterest income / average assets | 0.61% | 0.52% | 0.62% | 0.63% | 0.60% | 0.59% | 0.62% |
| &nbsp;&nbsp;Noninterest expense / average assets | 2.34% | 2.25% | 2.21% | 2.27% | 2.47% | 2.27% | 2.38% |
| &nbsp;&nbsp;Efficiency ratio | 61.28% | 63.39% | 64.35% | 69.08% | 75.89% | 64.33% | 66.54% |
| **Operating Selected Performance Ratios (Annualized):** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Operating return on average assets<sup>1</sup> | 1.10% | 0.96% | 0.88% | 0.76% | 0.77% | 0.92% | 0.98% |
| &nbsp;&nbsp;Operating PTPP return on average assets<sup>1</sup> | 1.46% | 1.30% | 1.23% | 1.05% | 1.03% | 1.27% | 1.29% |
| &nbsp;&nbsp;Operating return on average shareholders' equity<sup>1</sup> | 12.15% | 10.83% | 9.82% | 8.14% | 8.09% | 10.24% | 9.67% |
| &nbsp;&nbsp;Operating return on average tangible common equity<sup>1</sup> | 16.47% | 14.44% | 13.09% | 10.80% | 10.70% | 13.69% | 12.77% |
| &nbsp;&nbsp;Operating efficiency ratio<sup>1</sup> | 61.36% | 62.93% | 63.88% | 67.60% | 68.07% | 63.79% | 63.59% |
| &nbsp;&nbsp;Operating noninterest income / average assets<sup>1</sup> | 0.60% | 0.52% | 0.62% | 0.63% | 0.60% | 0.59% | 0.62% |
| &nbsp;&nbsp;Operating noninterest expense / average assets<sup>1</sup> | 2.35% | 2.24% | 2.21% | 2.23% | 2.23% | 2.26% | 2.28% |
| **Selected Interest Rates and Yields:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Yield on loans and leases | 5.05% | 4.59% | 4.40% | 4.41% | 4.53% | 4.63% | 4.67% |
| &nbsp;&nbsp;Yield on earning assets, FTE | 4.41% | 3.79% | 3.39% | 3.18% | 3.20% | 3.70% | 3.57% |
| &nbsp;&nbsp;Cost of interest-bearing deposits | 1.18% | 0.62% | 0.33% | 0.27% | 0.29% | 0.60% | 0.36% |
| &nbsp;&nbsp;Cost of total deposits | 0.85% | 0.45% | 0.24% | 0.20% | 0.22% | 0.44% | 0.27% |
| &nbsp;&nbsp;Cost of interest-bearing liabilities | 1.27% | 0.70% | 0.42% | 0.36% | 0.39% | 0.69% | 0.46% |
| &nbsp;&nbsp;Net interest margin, FTE | 3.51% | 3.29% | 3.08% | 2.91% | 2.92% | 3.20% | 3.24% |
| **Per Common Share:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Net income, basic | $0.78 | $0.69 | $0.61 | $0.49 | $0.40 | $2.57 | $2.23 |
| &nbsp;&nbsp;Net income, diluted | 0.77 | 0.68 | 0.61 | 0.49 | 0.40 | 2.55 | 2.22 |
| &nbsp;&nbsp;Operating earnings, basic¹ | 0.77 | 0.69 | 0.61 | 0.51 | 0.52 | 2.59 | 2.41 |
| &nbsp;&nbsp;Operating earnings, diluted¹ | 0.76 | 0.69 | 0.61 | 0.51 | 0.52 | 2.57 | 2.39 |
| &nbsp;&nbsp;Book value | 25.59 | 24.56 | 24.88 | 24.86 | 25.56 | 25.59 | 25.56 |
| &nbsp;&nbsp;Tangible book value¹ | 19.09 | 18.02 | 18.69 | 18.64 | 19.26 | 19.09 | 19.26 |
| &nbsp;&nbsp;Common shares outstanding | 16900805 | 16887555 | 16898405 | 16893282 | 16802990 | 16900805 | 16802990 |

---

¹Non-GAAP measure. See reconciliation of Non-GAAP measures.

![Graphic](smbk-20230123xex99d1002.jpg)

------

**SmartFinancial, Inc. and Subsidiary**

**Condensed Consolidated Financial Information - (unaudited)**

**(dollars in thousands)**

**NON-GAAP RECONCILIATIONS**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Three Months Ended**  | **Three Months Ended**  | **Three Months Ended**  | **Three Months Ended**  | **Three Months Ended**  | **Year Ended**  | **Year Ended**  |
|  | Dec<br>2022 | Sep<br>2022 | Jun<br>2022 | Mar<br>2022 | Dec<br>2021 | Dec<br>2022 | Dec<br>2021 |
| **Operating Earnings:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Net income (GAAP) | $13004 | $11543 | $10215 | $8259 | $6655 | $43022 | $34790 |
| &nbsp;&nbsp;&nbsp;&nbsp;Noninterest income: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Securities gains (losses), net | (144) |  |  |  |  | (144) | (45) |
| &nbsp;&nbsp;&nbsp;&nbsp;Noninterest expenses: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Merger related and restructuring expenses | (45) | 87 | 81 | 439 | 2762 | 562 | 3701 |
| &nbsp;&nbsp;&nbsp;&nbsp;Income taxes: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Income tax effect of adjustments | 49 | (22) | (21) | (113) | (713) | (108) | (944) |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating earnings (Non-GAAP) | $12864 | $11608 | $10275 | $8585 | $8704 | $43332 | $37502 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Operating earnings per common share (Non-GAAP):** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basic | $0.77 | $0.69 | $0.61 | $0.51 | $0.52 | $2.59 | $2.41 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diluted | 0.76 | 0.69 | 0.61 | 0.51 | 0.52 | 2.57 | 2.39 |
| **Operating Noninterest Income:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Noninterest income (GAAP) | $7125 | $6250 | $7229 | $7111 | $6806 | $27715 | $23949 |
| &nbsp;&nbsp;&nbsp;&nbsp;Securities gains (losses), net | (144) |  |  |  |  | (144) | (45) |
| &nbsp;&nbsp;Operating noninterest income (Non-GAAP) | $6981 | $6250 | $7229 | $7111 | $6806 | $27571 | $23904 |
| &nbsp;&nbsp;Operating noninterest income (Non-GAAP)/average assets<sup>1</sup> | 0.60% | 0.52% | 0.62% | 0.63% | 0.60% | 0.59% | 0.62% |
| **Operating Noninterest Expense:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Noninterest expense (GAAP) | $27416 | $27230 | $25926 | $25718 | $27823 | $106290 | $91391 |
| &nbsp;&nbsp;&nbsp;&nbsp;Merger related and restructuring expenses | 45 | (87) | (81) | (439) | (2762) | (562) | (3701) |
| &nbsp;&nbsp;Operating noninterest expense (Non-GAAP) | $27461 | $27143 | $25845 | $25279 | $25061 | $105728 | $87690 |
| &nbsp;&nbsp;Operating noninterest expense (Non-GAAP)/average assets<sup>2</sup> | 2.35% | 2.24% | 2.21% | 2.23% | 2.23% | 2.26% | 2.28% |
| **Operating Pre-tax Pre-provision ("PTPP") Earnings:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Net interest income (GAAP) | $37612 | $36708 | $33062 | $30118 | $29855 | $137501 | $113394 |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating noninterest income (Non-GAAP) | 6981 | 6250 | 7229 | 7111 | 6806 | 27571 | 23904 |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating noninterest expense (Non-GAAP) | (27461) | (27143) | (25845) | (25279) | (25061) | (105728) | (87690) |
| &nbsp;&nbsp;Operating PTPP earnings (Non-GAAP) | $17132 | $15815 | $14446 | $11950 | $11600 | $59344 | $49608 |
| **Non-GAAP Return Ratios:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Operating return on average assets (Non-GAAP)<sup>3</sup> | 1.10% | 0.96% | 0.88% | 0.76% | 0.77% | 0.92% | 0.98% |
| &nbsp;&nbsp;Operating PTPP return on average assets (Non-GAAP)<sup>4</sup> | 1.46% | 1.30% | 1.23% | 1.05% | 1.03% | 1.27% | 1.29% |
| &nbsp;&nbsp;Return on average tangible common equity (Non-GAAP)<sup>5</sup> | 16.65% | 14.36% | 13.02% | 10.39% | 8.18% | 13.60% | 11.84% |
| &nbsp;&nbsp;Operating return on average shareholders' equity (Non-GAAP)<sup>6</sup> | 12.15% | 10.83% | 9.82% | 8.14% | 8.09% | 10.24% | 9.67% |
| &nbsp;&nbsp;Operating return on average tangible common equity (Non-GAAP)<sup>7</sup> | 16.47% | 14.44% | 13.09% | 10.80% | 10.70% | 13.69% | 12.77% |
| **Operating Efficiency Ratio:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Efficiency ratio (GAAP) | 61.28% | 63.39% | 64.35% | 69.08% | 75.89% | 64.33% | 66.54% |
| &nbsp;&nbsp;Adjustment for taxable equivalent yields | (0.22)% | (0.25)% | (0.27)% | (0.31)% | (0.32)% | (0.26)% | (0.29)% |
| &nbsp;&nbsp;Adjustment for securities gains (losses) | (0.20)% | —% | —% | —% | —% | (0.06)% | (0.02)% |
| &nbsp;&nbsp;Adjustment for merger related income and costs | 0.50% | (0.21)% | (0.20)% | (1.17)% | (7.50)% | (0.22)% | (2.64)% |
| &nbsp;&nbsp;Operating efficiency ratio (Non-GAAP) | 61.36% | 62.93% | 63.88% | 67.60% | 68.07% | 63.79% | 63.59% |

---

<sup>1</sup>Operating noninterest income (Non-GAAP) is annualized and divided by average assets.

<sup>2</sup>Operating noninterest expense (Non-GAAP) is annualized and divided by average assets.

<sup>3</sup>Operating return on average assets (Non-GAAP) is the annualized operating earnings (Non-GAAP) divided by average assets.

<sup>4</sup>Operating PTPP return on average assets (Non-GAAP) is the annualized operating PTPP earnings (Non-GAAP) divided by average assets.

<sup>5</sup>Return on average tangible common equity (Non-GAAP) is the annualized net income divided by average tangible common equity (Non-GAAP).

<sup>6</sup>Operating return on average shareholders' equity (Non-GAAP) is the annualized operating earnings (Non-GAAP) divided by average equity.

<sup>7</sup>Operating return on average tangible common equity (Non-GAAP) is the annualized operating earnings (Non-GAAP) divided by average tangible common equity (Non-GAAP).

![Graphic](smbk-20230123xex99d1002.jpg)

------

**SmartFinancial, Inc. and Subsidiary**

**Condensed Consolidated Financial Information - (unaudited)**

**(dollars in thousands)**

**NON-GAAP RECONCILIATIONS**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Three Months Ended**  | **Three Months Ended**  | **Three Months Ended**  | **Three Months Ended**  | **Three Months Ended**  | **Year Ended**  | **Year Ended**  |
|  | Dec<br>2022 | Sep<br>2022 | Jun<br>2022 | Mar<br>2022 | Dec<br>2021 | Dec<br>2022 | Dec<br>2021 |
| **Tangible Common Equity:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Shareholders' equity (GAAP) | $432452 | $414711 | $420427 | $420042 | $429430 | $432452 | $429430 |
| &nbsp;&nbsp;Less goodwill and other intangible assets | 109772 | 110460 | 104582 | 105215 | 105852 | 109772 | 105852 |
| &nbsp;&nbsp;Tangible common equity (Non-GAAP) | $322680 | $304251 | $315845 | $314827 | $323578 | $322680 | $323578 |
| **Average Tangible Common Equity:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Average shareholders' equity (GAAP) | $420037 | $425365 | $419726 | $427945 | $426808 | $423252 | $387688 |
| &nbsp;&nbsp;Less average goodwill and other intangible assets | 110206 | 106483 | 104986 | 105617 | 104193 | 106834 | 93910 |
| &nbsp;&nbsp;Average tangible common equity (Non-GAAP) | $309831 | $318882 | $314740 | $322328 | $322615 | $316418 | $293778 |
| **Tangible Book Value per Common Share:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Book value per common share (GAAP) | $25.59 | $24.56 | $24.88 | $24.86 | $25.56 | $25.59 | $25.56 |
| &nbsp;&nbsp;Adjustment due to goodwill and other intangible assets | (6.50) | (6.54) | (6.19) | (6.23) | (6.30) | (6.50) | (6.30) |
| &nbsp;&nbsp;Tangible book value per common share (Non-GAAP)<sup>1</sup> | $19.09 | $18.02 | $18.69 | $18.64 | $19.26 | $19.09 | $19.26 |
| **Tangible Common Equity to Tangible Assets:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Total Assets | $4612913 | $4796911 | $4788113 | $4718579 | $4611579 | $4612913 | $4611579 |
| &nbsp;&nbsp;Less goodwill and other intangibles | 109772 | 110460 | 104582 | 105215 | 105852 | 109772 | 105852 |
| &nbsp;&nbsp;Tangible Assets (Non-GAAP): | $4503141 | $4686451 | $4683531 | $4613364 | $4505727 | $4503141 | $4505727 |
| &nbsp;&nbsp;Tangible common equity to tangible assets (Non-GAAP) | 7.17% | 6.49% | 6.74% | 6.82% | 7.18% | 7.17% | 7.18% |

---

<sup>1</sup>Tangible book value per share (Non-GAAP) is computed by dividing total stockholder's equity, less goodwill and other intangible assets by common shares outstanding.

![Graphic](smbk-20230123xex99d1002.jpg)

------

## Exhibit 99.2

#### Exhibit 99.2

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| | |
|:---|:---|
| &nbsp;&nbsp;![GRAPHIC](smbk-20230123xex99d2g001.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 INVESTOR CALL 4Q 2022 January 24, 2023, 10:00am ET Webcast: www.smartbank.com (Investor Relations) Audio Only: 1 - 844 - 200 - 6205 Access Code: 179408 Miller Welborn Chairman of the Board Billy Carroll President & CEO Ron Gorczynski CFO  |

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| | |
|:---|:---|
| &nbsp;&nbsp;![GRAPHIC](smbk-20230123xex99d2g002.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D ISCLOSURES 2 Forward - Looking Statements This presentation may contain statements that are based on management's current estimates or expectations of future events or future results, and that may be deemed to constitute forward - looking statements as defined under the Private Securities Litigation Reform Act of 1995 .. These statements, including statements regarding the effects of the COVID - 19 pandemic on SmartFinancial Inc .. 's ("SmartFinancial") business and financial results and conditions, are not historical in nature and can generally be identified by such words as "expect," "anticipate," "intend," "plan," "believe," "seek," "may," "estimate," and similar expressions .. All forward - looking statements are subject to risks, uncertainties, and other factors that may cause the actual results of SmartFinancial to differ materially from future results expressed or implied by such forward - looking statements .. Such risks, uncertainties, and other factors include, among others, (1) the risk of litigation and reputational risk associated with historic acquisition activity ; (2) the risk that cost savings and revenue synergies from recently completed acquisitions may not be realized or may take longer than anticipated to realize ; (3) disruption from recently completed acquisitions with customer, supplier, employee, or other business relationships ; (4) our ability to successfully integrate the businesses acquired as part of previous acquisitions with the business of SmartBank ; (5) changes in management's plans for the future ; (6) prevailing, or changes in, economic or political conditions, particularly in our market areas, including the effects of declines in the real estate market, high unemployment rates, inflationary pressures, elevated interest rates and slowdowns in economic growth, as well as the financial stress on borrowers as a result of the foregoing ; (7) a deterioration of the credit rating for U .. S .. long - term sovereign debt, actions that the U .. S .. government may take to avoid exceeding the debt ceiling, or uncertainties surrounding the debt ceiling and the federal budget ; (8) credit risk associated with our lending activities ; (9) changes in loan demand, real estate values, or competition ; (10) developments in our mortgage banking business, including loan modifications, general demand, and the effects of judicial or regulatory requirements or guidance ; (11) changes in accounting principles, policies, or guidelines ; (12) changes in applicable laws, rules, or regulations ; (13) adverse results from current or future litigation, regulatory examinations or other legal and/or regulatory actions, including as a result of the Company's participation in and execution of government programs related to the COVID - 19 pandemic and related variants ; (14) the continued impact of the COVID - 19 pandemic and related variants on the Company's assets, business, cash flows, financial condition, liquidity, prospects and results of operations ; (15) significant turbulence or a disruption in the capital or financial markets and the effect of a fall in stock market prices on our investment securities ; (16) the effects of war or other conflicts including the impacts related to or resulting from Russia's military action in Ukraine ; and (17) other general competitive, economic, political, and market factors, including those affecting our business, operations, pricing, products, or services .. These and other factors that could cause results to differ materially from those described in the forward - looking statements can be found in SmartFinancial's most recent annual report on Form 10 - K, quarterly reports on Form 10 - Q, and current reports on Form 8 - K, in each case filed with or furnished to the Securities and Exchange Commission (the "SEC") and available on the SEC's website (www .. sec .. gov) .. Undue reliance should not be placed on forward - looking statements .. SmartFinancial disclaims any obligation to update or revise any forward - looking statements contained in this release, which speak only as of the date hereof, whether as a result of new information, future events, or otherwise .. Non - GAAP Financial Measures Statements included in this presentation include Non - GAAP financial measures and should be read along with the accompanying tables, which provide a reconciliation of Non - GAAP financial measures to GAAP financial measures .. SmartFinancial management uses several Non - GAAP financial measures, including : (i) operating revenue, (ii) operating earnings, (iii) operating return on average assets, (iv) operating return on average shareholders' equity, (v) return on average tangible common equity, (vi) operating return on average tangible common equity, (vii) operating efficiency ratio ; (viii) tangible common equity ; (ix) average tangible common equity ; (x) tangible book value ; (xi) operating pre - tax pre - provision earnings ; (xii) operating noninterest income ; (xiii) operating noninterest expense ; (xiv) tangible assets ; and ratios derived therefrom, in its analysis of the company's performance .. Operating revenue includes the earnings from net interest income and operating noninterest income (Non - GAAP) .. Operating earnings excludes the following from net income : securities gains and losses, merger related and restructuring expenses, and the income tax effect of adjustments .. Operating return on average assets is the annualized operating earnings (Non - GAAP) divided by average assets .. Operating return on average shareholders' equity is the annualized operating earnings (Non - GAAP) divided by average equity .. Return on average tangible common equity is the annualized net income divided by average tangible common equity (Non - GAAP) .. Operating return on average tangible common equity is the annualized operating earnings (Non - GAAP) divided by average tangible common equity (Non - GAAP) .. The operating efficiency ratio includes an adjustment for taxable equivalent yields and excludes securities gains and losses and merger related and restructuring expenses from the efficiency ratio .. Tangible common equity and average tangible common equity exclude goodwill and other intangible assets from shareholders' equity and average shareholders' equity .. Tangible book value excludes goodwill and other intangible assets less shareholders' equity divided by common shares outstanding .. Operating pre - tax pre - provision earnings is net interest income plus operating noninterest income (Non - GAAP) less operating noninterest expense (Non - GAAP) .. Operating noninterest income excludes the following from noninterest income : securities gains and losses .. Operating noninterest expense excludes the following from noninterest expense : prior year adjustments to salaries, merger related and restructuring expenses and certain franchise tax true - up expenses .. Tangible assets excludes goodwill and other intangibles from total assets .. Management believes that Non - GAAP financial measures provide additional useful information that allows investors to evaluate the ongoing performance of the company and provide meaningful comparisons to its peers .. Management believes these non - GAAP financial measures also enhance investors' ability to compare period - to - period financial results and allow investors and company management to view our operating results excluding the impact of items that are not reflective of the underlying operating performance .. Non - GAAP financial measures should not be considered as an alternative to any measure of performance or financial condition as promulgated under GAAP, and investors should consider SmartFinancial's performance and financial condition as reported under GAAP and all other relevant information when assessing the performance or financial condition of the company .. Non - GAAP financial measures have limitations as analytical tools, and investors should not consider them in isolation or as a substitute for analysis of the results or financial condition as reported under GAAP ..  |

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| | |
|:---|:---|
| &nbsp;&nbsp;![GRAPHIC](smbk-20230123xex99d2g003.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;'20 -'22 2020Y 2021Y 2022Y CAGR 3 Total Loans and Leases 2,382.2 $2,693.4 $3,229.0 $16% Annual Net Balance Loan Growth (Excl. PPP) 190.1 547.8 587.9 76% Total Deposits 2,805.2 4,021.9 4,077.1 21% Loan / Deposit Ratio 85% 67% 79% Operating Revenue 1 115.8 137.3 165.1 19% Operating PTPP Earnings 1 43.7 49.6 59.3 17% Operating Noninterest Income 1 15.0 23.9 27.6 36% Operating Noninterest Income (Excl. Mtg. Bking) 1 11.1 19.9 26.0 53% Operating Return on Average Assets 1 0.89% 0.98% 0.92% Operating Return on Average Tang. Common Equity 1 10.7% 12.8% 13.7% Operating Efficiency Ratio 1 61.7% 63.6% 63.8% Diluted Operating Earnings Per Share 1 1.82 $2.39 $2.57 $19% Tangible Book Value Per Share (Excl. AOCI) 1,2 17.77 $19.17 $21.18 $9% F INANCIAL H IGHLIGHTS : 3 S MART B ANK 2022: A Y EAR IN R EVIEW $ in Millions, except per share data B ALANCE S HEET P ERFORMANCE D RIVEN BY T ALENTED C OMMERCIAL R ELATIONSHIP M ANAGERS R ECORD O PERATING R EVENUE N ON - C YCLICAL N ONINTEREST I NCOME G ROWTH R ECORD O PERATING EPS C REATING S HAREHOLDER V ALUE P OSITIVE O PERATING L EVERAGE I MPROVING P ROFITABILITY B ALANCE S HEET / N ON - GAAP R EVENUE M ETRICS : N ON - GAAP P ERFORMANCE M ETRICS : O PERATIONAL A CHIEVEMENTS : 1) Non - GAAP financial measure - f or a reconciliation of Non - GAAP financial measures to their most directly comparable GAAP measures, see the Appendix 2) AOCI: Accumulated Other Comprehensive Income 3) CA GR: Compound Annualized Growth Rate ❖ E STABLISHED P ERMANENT D OTHAN , AL AND T ALLAHASSEE , FL L OCATIONS ❖ S UBSTANTIAL M ODERNIZATION OF ATM AND C ASH R ECYCLER F LEETS ❖ E NHANCED I NSURANCE P LATFORM WITH S UNBELT I NSURANCE A CQUISITION ❖ N C INO© C OMMERCIAL L OAN O RIGINATION S YSTEM I MPLEMENTED ❖ O PENED B RANCHES IN N ASHVILLE / F RANKLIN , TN AND B IRMINGHAM , AL ❖ C ONSOLIDATED C ROSSVILLE AND S EVIERVILLE , TN O PERATIONS  |

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| | |
|:---|:---|
| &nbsp;&nbsp;![GRAPHIC](smbk-20230123xex99d2g004.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$0.40 $0.68 $0.77 $0.52 $0.69 $0.76 4Q21 3Q22 4Q22 GAAP EPS D ILUTED O PERATING EPS $25.56 $24.56 $25.59 $19.26 $18.02 $19.09 4Q21 3Q22 4Q22 BV P ER S HARE TBV P ER S HARE 0.59% 0.95% 1.11% 0.77% 0.96% 1.10% 4Q21 3Q22 4Q22 GAAP ROAA O PERATING ROAA 8.2% 14.4% 16.7% 10.7% 14.4% 16.5% 4Q21 3Q22 4Q22 GAAP ROATCE O PERATING ROATCE AOCI I MPACT 4 Financial data as of or for the three months ended 12/31/22 1) Non - GAAP financial measure - f or a reconciliation of Non - GAAP financial measures to their most directly comparable GAAP measures, see the Appendix 2) QoQ : Quarter - over - Quarter 3) "Loans" for purposes of this presentation includes all SmartFinancial loans and leases 4) Organic loan growth excludes PPP loans 5) AOCI: Accumulated Other Comprehensive Income Q UARTERLY H IGHLIGHTS : F OURTH Q UARTER 2022 15% Q O Q 2 A NNUALIZED T ANG .. B OOK V ALUE P ER S HARE G ROWTH (E XCLUDING AOCI) 1 $0.76 D ILUTED O PERATING EPS 1 1.10% O PERATING R ETURN ON A VERAGE A SSETS 1 16.5% O PERATING R ETURN A VERAGE T ANG .. C OMMON E QUITY 1 61% O PERATING E FFICIENCY R ATIO 1 (5%) Q O Q D EPOSIT C ONTRACTION 17% Q O Q A NNUALIZED O RGANIC L OAN 3 G ROWTH 4 79% L OAN / D EPOSIT R ATIO 0.10% N ON - P ERFORMING A SSETS / A SSETS $4.6 B ILLION IN T OTAL A SSETS D ILUTED E ARNINGS P ER S HARE B OOK V ALUE P ER S HARE R ETURN ON A VERAGE A SSETS R ETURN ON A VERAGE T ANGIBLE C OMMON E QUITY 1 1 1 1 1,5 $21.18 $19.09 $20.43 $18.02  |

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| | |
|:---|:---|
| &nbsp;&nbsp;![GRAPHIC](smbk-20230123xex99d2g005.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 S MART F INANCIAL : E XPANDING S OUTHEAST F RANCHISE $4.6 B ILLION IN T OTAL A SSETS $3.2 B ILLION IN T OTAL L OANS We are building a culture where Associates thrive and are empowered to be leaders .. The core values that we have established as a company help us operate in unison and have become a critical part of our culture .. Our Associates are key to SmartBank's success .. $4.1 B ILLION IN T OTAL D EPOSITS 41 T OTAL B RANCHES K NOXVILLE N ASHVILLE H UNTSVILLE T USCALOOSA M OBILE P ENSACOLA B IRMINGHAM A UBURN T ALLAHASSEE D OTHAN M ONTGOMERY S MART B ANK B RANCH O FFICES L OAN P RODUCTION O FFICE C HATTANOOGA Balance sheet and branch count represent 12/31/22 balances 1) Knox News Sentinel Top Workplaces survey P ANAMA C ITY 1  |

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| &nbsp;&nbsp;![GRAPHIC](smbk-20230123xex99d2g006.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2.0 $2.1 $2.3 $2 $2 $2 $2 $2 $2 $2 12/31/20 12/31/21 12/31/22 SMBK L OANS $2.5 $3.5 $3.4 $- $1 $1 $2 $2 $3 $3 $4 $4 $5 12/31/20 12/31/21 12/31/22 SMBK D EPOSITS $0.4 $0.6 $0.9 $- $0 $0 $0 $0 $1 $1 $1 $1 $1 $1 12/31/20 12/31/21 12/31/22 SMBK L OANS $0.3 $0.5 $0.7 $(0) $0 $0 $0 $0 $0 $1 $1 $1 $1 12/31/20 12/31/21 12/31/22 SMBK D EPOSITS S MART B ANK B RANCH O FFICES L OAN P RODUCTION O FFICE E XPANDING M ARKET A REA L EGACY M ARKET A REA U RBAN AREA D ENSITY \ M ARKET A REA : T ARGETING I NDUSTRY R ICH G ROWTH M ARKETS 6 ► T OTAL P OPULATION : 2.8 M ILLION ► T OTAL D EPOSITS : $72 B ILLION ► M EDIAN I NCOME : $63 T HOUSAND L EGACY M ARKETS 1) Legacy Markets include Chattanooga, TN, Clarke, AL, Cleveland, TN, Crossville, TN, Cookeville, TN, Fentress, TN, Huntsville, AL, Knoxville, TN, Sevierville, TN, Tullahoma, TN and Tuscaloosa, AL MSAs 2) Expanding Markets include Auburn, AL, Birmingham, AL, Dothan, AL, Fairhope, AL, Fort Walton/Destin, FL, Montgomery, AL, Mobil e, AL, Nashville, TN, Panama City, FL, Pensacola, FL and Tallahassee, FL Source: S&P Market Intelligence; https://www.forbes.com/best - places - for - business Note: Expanding and Legacy market statistics based on the weighted average of the MSAs included in each area based on populat ion ; Legacy market area includes settlement and corporate balances E XPANDING M ARKETS ► T OTAL P OPULATION : 5.9 M ILLION ► T OTAL D EPOSITS : $211 B ILLION ► M EDIAN I NCOME : $68 T HOUSAND L EGACY M ARKETS 1 : S TRONG R ELATIONSHIPS / D EEP M ARKET P ENETRATION E XPANDING M ARKETS 2 : B UILDING T ALENT / G ROWING B RAND A WARENESS Forbes Top 200 Best Places for Business and Careers Knoxville: #86 Huntsville: #93 Chattanooga: #116 Mobile: #184 Forbes Top 200 Best Places for Business and Careers Nashville: #15 Tallahassee: #103 Pensacola: #105 Birmingham: #165 Montgomery: #191 CAGR: 8% $ in Billions CAGR: 16% CAGR: 49% CAGR: 51%  |

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| &nbsp;&nbsp;![GRAPHIC](smbk-20230123xex99d2g007.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22% 22% 23% 23% 24% 29% 31% 28% 27% 26% 2% 1% 16% 15% 16% 16% 17% 10% 11% 12% 13% 12% 18% 17% 18% 18% 18% 3% $2,693 $2,806 $2,994 $3,099 $3,229 4Q21 1Q22 2Q22 3Q22 4Q22 CRE, OO CRE, NOO PPP L OANS C&I C&D C ONSUMER RE L EASES & O THER $1,319 $1,775 $1,897 $2,382 $2,693 $2,806 $2,994 $3,099 $3,229 5.31% 5.72% 5.49% 4.89% 4.67% 4.40% 4.40% 4.59% 5.05% 3.00% 4.00% 5.00% 6.00% 7.00% 8.00% 9.00% 10.00% $- $500 $1,000 $1,500 $2,000 $2,500 $3,000 $3,500 2017Y 2018Y 2019Y 2020Y 2021Y 1Q22 2Q22 3Q22 4Q22 7 L OAN P ORTFOLIO : S OLID M ARKETS P ROVIDING O PPORTUNITY T OTAL L OANS CAGR OF 20% S INCE 2017 $ in Millions A VERAGE L OAN Y IELD L OAN C OMPOSITION S USTAINED M ARKET M OMENTUM D RIVING O RGANIC G ROWTH  |

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| &nbsp;&nbsp;![GRAPHIC](smbk-20230123xex99d2g008.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 - 4 Family (NOO) 27% Resi/Comm Land Dev. 13% Resi/Comm Land 17% Multifamily 13% CRE (OO) 11% CRE (NOO) 12% Multifamily 17% Hotel & Hospitality 35% Retail Space 14% Office Space 14% Misc. 10% 8 L OAN C ONCENTRATION : W ELL B ALANCED E XPOSURE CRE E XPOSURE B Y S EGMENT H IGHLY D IVERSIFIED WITH S EASONED C LIENT B ASE C&D E XPOSURE B Y T YPE 1 C LOSELY M ONITORED WITH N O C ONCENTRATION C ONCERNS 1) 1 - 4 Family (OO) includes owner - occupied primary and secondary residence construction loans; 1 - 4 Family (NOO) includes speculativ e and investment property residential construction loans; Resi /Comm Land Dev. includes primary, secondary, investment and commercial land development loans; Resi /Comm Land includes residential and commercial improved and unimproved land loans; Multifamily includes 5 or more residentia l p roperty loans; CRE (OO) includes construction loans for owner - occupied commercial real estate including hotel & hospitality, retail, office, industrial & warehouse, self storage and other commercial real est ate ; CRE (NOO) includes construction loans for non owner - occupied commercial real estate including hotel & hospitality, retail, off ice, industrial & warehouse, self storage and other commercial real estate  |

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| &nbsp;&nbsp;![GRAPHIC](smbk-20230123xex99d2g009.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$5,058 $4,981 $5,042 $4,605 $4,808 0.11% 0.11% 0.11% 0.10% 0.10% -0.10% 0.10% 0.30% 0.50% 0.70% 0.90% 1.10% 1.30% 1.50% $- $2,000 $4,000 $6,000 4Q21 1Q22 2Q22 3Q22 4Q22 N ONPERFORMING L OANS OREO & O THER R EPOS N ONPERFORMING A SSETS / T OTAL A SSETS $8,991 $5,738 $6,588 $6,398 $7,645 0.33% 0.20% 0.22% 0.21% 0.24% -0.10% 0.10% 0.30% 0.50% 0.70% 0.90% 1.10% 1.30% 1.50% 1.70% $- $2,000 $4,000 $6,000 $8,000 $10,000 $12,000 4Q21 1Q22 2Q22 3Q22 4Q22 T OTAL D ELINQUENT & N ONACCRUAL L OANS & L EASES T OTAL D ELINQUENT & N ONACCRUAL L OANS & L EASES / T OTAL L OANS & L EASES 0.35% 0.31% 0.29% 0.22% 0.22% 0.05% 0.04% - 0.09% 0.02% 0.03% -0.10% -0.05% 0.00% 0.05% 0.10% 0.15% 0.20% 0.25% 0.30% 0.35% 0.40% 4Q21 1Q22 2Q22 3Q22 4Q22 C LASSIFIED L OANS AND L EASES / T OTAL L OANS & L EASES N ET C HARGEOFFS 286% 304% 303% 301% 294% 74% 81% 90% 98% 94% 0% 50% 100% 150% 200% 250% 150% 170% 190% 210% 230% 250% 270% 290% 310% 330% 350% 4Q21 1Q22 2Q22 3Q22 4Q22 CRE L OANS / C APITAL C&D L OANS / C APITAL 9 C REDIT Q UALITY D ELINQUENT AND N ONACCRUALS / T OTAL L OANS N ONPERFORMING A SSETS C OMMERCIAL R EAL E STATE C ONCENTRATION A SSET Q UALITY : S TRONG U NDERWRITING P AYS D IVIDENDS $ in Thousands  |

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| &nbsp;&nbsp;![GRAPHIC](smbk-20230123xex99d2g010.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$19,352 $20,078 $21,938 $22,769 $23,334 $15,483 $14,913 $14,737 $14,465 $13,128 0.74% 0.74% 0.74% 0.75% 0.73% 0.00% 0.50% 1.00% 1.50% 2.00% $- $2,000 $4,000 $6,000 $8,000 $10,000 $12,000 $14,000 $16,000 $18,000 $20,000 $22,000 $24,000 4Q21 1Q22 2Q22 3Q22 4Q22 A LLOWANCE FOR L OAN L OSSES A CQUIRE L OAN F AIR V ALUE D ISCOUNTS A LLOWANCE - O RIGINATED / O RIG .. L&L, L ESS PPP 10 R ESERVE R ECONCILIATION : $ in Thousands 4Q21 1Q22 2Q22 3Q22 4Q22 Allowance / Total Loans & Leases ("L&L") 0.72% 0.72% 0.73% 0.73% 0.72% Allowance / Total L&L, less PPP 0.73% 0.72% 0.73% 0.74% 0.72% Allowance - Originated / Orig. L&L, less PPP 0.74% 0.74% 0.74% 0.75% 0.73% Allowance - Acquired / Acquired L&L 0.65% 0.63% 0.67% 0.65% 0.62% Acquired FV Discount / Acquired L&L 3.42% 3.64% 4.17% 4.29% 4.41% Total Reserves / Total L&L 1.29% 1.25% 1.22% 1.20% 1.13% Total Reserves / Total L&L, less PPP 1.31% 1.26% 1.23% 1.20% 1.13%  |

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| &nbsp;&nbsp;![GRAPHIC](smbk-20230123xex99d2g011.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1,439 $1,922 $2,047 $2,805 $4,022 $4,191 $4,282 $4,280 $4,077 0.55% 0.86% 1.12% 0.55% 0.27% 0.20% 0.24% 0.45% 0.85% 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% $- $500 $1,000 $1,500 $2,000 $2,500 $3,000 $3,500 $4,000 $4,500 2017Y 2018Y 2019Y 2020Y 2021Y 1Q22 2Q22 3Q22 4Q22 26% 26% 27% 28% 26% 22% 23% 23% 22% 24% 37% 38% 38% 39% 39% 14% 13% 12% 11% 11% $4,022 $4,191 $4,282 $4,280 $4,077 4Q21 1Q22 2Q22 3Q22 4Q22 N ONINTEREST D EMAND I NTEREST - B EARING D EMAND M ONEY M ARKET AND S AVINGS T IME D EPOSITS 11 D EPOSIT P ORTFOLIO : D EFENDING D EPOSIT M ARKET S HARE T OTAL D EPOSITS L OANS TO D EPOSITS R ATIO OF 79% $ in Millions A VERAGE T OTAL D EPOSIT C OST D EPOSIT C OMPOSITION H IGHER R ATES D RIVING M IX S HIFT  |

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| &nbsp;&nbsp;![GRAPHIC](smbk-20230123xex99d2g012.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1,045 $764 $655 $543 $266 $559 $830 $813 $807 $770 12.1% 17.6% 17.0% 16.8% 16.7% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% 40.0% 45.0% 50.0% $- $200 $400 $600 $800 $1,000 $1,200 4Q21 1Q22 2Q22 3Q22 4Q22 C ASH AND C ASH E QUIV .. S ECURITIES (AFS/HTM) S ECURITIES (AFS/HTM) / T OTAL A SSETS $29,855 $30,118 $33,062 $36,708 $37,612 $6,806 $7,111 $7,229 $6,250 $6,981 $36,661 $37,229 $40,291 $42,958 $44,593 2.92% 2.91% 3.08% 3.29% 3.51% $18,000 $23,000 $28,000 $33,000 $38,000 $43,000 2.00% 2.50% 3.00% 3.50% 4.00% 4.50% 5.00% 5.50% 6.00% 4Q21 1Q22 2Q22 3Q22 4Q22 N ET I NTEREST I NCOME O PERATING N ONINTEREST I NCOME N ET I NTEREST M ARGIN (FTE) 4Q21 1Q22 2Q22 3Q22 4Q22 Cash Yield 0.22% 0.25% 0.91% 2.34% 3.81% Sec. Yield (AFS/HTM) 1 1.64% 1.67% 1.73% 1.87% 2.15% Loans (less Accr./PPP Fees) 4.20% 4.18% 4.27% 4.55% 4.86% Accretion 0.07% 0.06% 0.03% 0.02% 0.18% PPP Fees 0.26% 0.16% 0.10% 0.02% 0.01% Loan Yield (incl. Fees) 4.53% 4.40% 4.40% 4.59% 5.05% IE Asset Yield 3.20% 3.18% 3.39% 3.79% 4.41% NIM (FTE) 2.92% 2.91% 3.08% 3.29% 3.51% 12 L IQUIDITY U TILIZATION : M ARGIN M ANAGEMENT WHILE D RIVING R EVENUE $ in Millions C ASH AND S ECURITIES E XCESS F UNDING N ORMALIZING M ARGIN / O PERATING R EVENUE 2 M AINTAINING R EVENUE D ESPITE C HALLENGING M ARGIN E NVIRONMENT $ in Thousands 1) Based on the weighted average of the AFS/HTM securities portfolio. Yields related to investment securities exempt from income ta xes are stated on a taxable - equivalent basis assuming a federal income tax rate of 21.0% 2) Non - GAAP financial measure - f or a reconciliation of Non - GAAP financial measures to their most directly comparable GAAP measures, see the Appendix 2  |

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| &nbsp;&nbsp;![GRAPHIC](smbk-20230123xex99d2g013.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$375 , 0.3% $(600) , - 0.4% $(1363) , - 1.0% I NTERST I NCOME % C HANGE S HOCK - 100 BPS S HOCK +100 BPS S HOCK +200 BPS $35 , 0.0% $44 , 0.0% $(86) , - 0.1% I NTEREST I NCOME % C HANGE R AMP - 100 BPS R AMP +100 BPS R AMP +200 BPS 13 I NTEREST R ATE S ENSITIVITY F IXED VS .. V ARIABLE R ATE L OANS S TATIC S HOCK / R ATE R AMP A NALYSIS 1 1) Based on 12 - month static rate shock and ramp analysis as of 12/31/22. These estimates of changes in the Company's net interest i ncome require us to make certain assumptions including loan and mortgage - related investment prepayment speeds, reinvestment rate, deposit maturities and decay rates. These assumptions are inherently uncertain and, as a result, we cannot pr ecisely predict the impact of changes in interest rates on net interest income. Although our analysis provides an indication of our interest rate risk exposure at a particular point in time, such estimates are not intended to, and do not, provide a prec ise forecast of the effect of changes in market interest rates and will differ from actual results. ▲ $1.9 B ILLION F IXED R ATE L OANS ▲ $1.3 B ILLION V ARIABLE R ATE L OANS ▲ $727 M ILLION S HORT T ERM V ARIABLE R ATE (1 - 3 M ONTH R ESET) ▲ $561 M ILLION L ONG T ERM V ARIABLE R ATE (> 3 M ONTH R ESET) $ in Thousands $ in Millions $1,928 60% $561 17% $727 23% F IXED R ATE LT V ARIABLE ST V ARIABLE  |

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| &nbsp;&nbsp;![GRAPHIC](smbk-20230123xex99d2g014.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6,806 $7,111 $7,229 $6,250 $6,981 4Q21 1Q22 2Q22 3Q22 4Q22 S ERVICE C HARGES ON D EPOSIT A CCOUNTS M ORTGAGE B ANKING I NCOME I NVESTMENT S ERVICES I NCOME I NSURANCE C OMMISSIONS I NTERCHANGE F EES O THER N ONINTEREST I NCOME 14 N ONINTEREST R EVENUE D ETAILS : G ROWING F EE I NCOME O PERATING N ONINTEREST I NCOME 1 F OCUSED ON R ECURRING F EE I NCOME $ in Thousands 1) Non - GAAP financial measure - f or a reconciliation of Non - GAAP financial measures to their most directly comparable GAAP measures, see the Appendix D IFFERENTIATED R EVENUE S TREAMS B UILDING A F AMILY OF D IVERSIFIED R EVENUE G ENERATORS  |

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| &nbsp;&nbsp;![GRAPHIC](smbk-20230123xex99d2g015.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68% 68% 64% 63% 61% 4Q21 1Q22 2Q22 3Q22 4Q22 O PERATING E FFICIENCY R ATIO $25,061 $25,279 $25,845 $27,143 $27,461 4Q21 1Q22 2Q22 3Q22 4Q22 S ALARIES & B ENEFITS O CCUPANCY & E QUIPMENT D ATA P ROCESSING & T ECHNOLOGY P ROFESSIONAL S ERVICES A MORTIZATION OF I NTANGIBLES O THER N ONINTEREST E XPENSE 15 1) Non - GAAP financial measure - f or a reconciliation of Non - GAAP financial measures to their most directly comparable GAAP measures, see the Appendix O PERATING E XPENSE : I NVESTING W ITH AN E YE ON E FFICIENCIES O PERATING E FFICIENCY R ATIO 1 E XECUTING ON E XPANSION O PPORTUNITIES O PERATING N ONINTEREST E XPENSE 1 D ISCIPLINED F OCUS ON E XPENSE C ONTAINMENT $ in Thousands 1  |

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| &nbsp;&nbsp;![GRAPHIC](smbk-20230123xex99d2g016.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.2% 6.8% 6.7% 6.5% 7.2% 4Q21 1Q22 2Q22 3Q22 4Q22 10.2% 10.3% 10.0% 9.6% 9.7% 4Q21 1Q22 2Q22 3Q22 4Q22 7.5% 7.4% 7.5% 7.4% 8.0% 4Q21 1Q22 2Q22 3Q22 4Q22 12.2% 12.2% 11.8% 11.4% 11.5% 4Q21 1Q22 2Q22 3Q22 4Q22 $13.90 $14.64 $16.82 $17.92 $19.26 $19.09 $14.01 $14.84 $16.80 $17.77 $19.17 $21.18 $8.00 $10.00 $12.00 $14.00 $16.00 $18.00 $20.00 $22.00 $24.00 2017Y 2018Y 2019Y 2020Y 2021Y 4Q22 TBV Per Share Adj. TBV Per Share (Ex. AOCI) C APITAL : W ELL C APITALIZED – B UILDING B OOK V ALUE 16 1) Non - GAAP financial measure - f or a reconciliation of Non - GAAP financial measures to their most directly comparable GAAP measures, see the Appendix Note: Capital ratio data as of the most recent period ended 12/31/22 TCE / TA 1 CET1 R ATIO T OTAL C APITAL R ATIO L EVERAGE R ATIO B ASEL III R EGULATORY C APITAL M INIMUM T O B E C ONSIDERED "W ELL C APITALIZED " B UILDING S HAREHOLDER V ALUE T ANGIBLE B OOK V ALUE P ER S HARE (TBVPS) 1 $7.18 TBVPS 1 C REATED 2017 – 2022 (E XCLUDING A CCUMULATED O THER C OMPREHENSIVE I NCOME) $0.07 2022 P ER S HARE Q UARTERLY D IVIDEND 5% W ELL C APITALIZED 10% W ELL C APITALIZED 6.5% W ELL C APITALIZED 1 1  |

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| &nbsp;&nbsp;![GRAPHIC](smbk-20230123xex99d2g017.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;W HY S MART B ANK : I NVESTMENT H IGHLIGHTS 17 F RANCHISE S CARCITY V ALUE – B UILDING S OUTHEAST D ENSITY E NGAGED M ANAGEMENT T EAM S TABLE M ARKETS E XPERIENCING P OPULATION E XPANSION L OW - C OST D EPOSIT B ASE G ROWING B USINESS L INES WITH R EVENUE D IVERSIFICATION S OLID C REDIT Q UALITY AND U NDERWRITING H ISTORY OF D EFENDING B OOK V ALUE AND D ELIVERING S HAREHOLDER V ALUE $ |

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| &nbsp;&nbsp;![GRAPHIC](smbk-20230123xex99d2g018.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A PPENDIX 18  |

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| &nbsp;&nbsp;![GRAPHIC](smbk-20230123xex99d2g019.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19 Note: For a reconciliation of Non - GAAP financial measures to their most directly comparable GAAP measures, see the Appendix; per centage change may differ due to rounding I NCOME S TATEMENT : D ETAILED F OURTH Q UARTER R ESULTS 3Q22 4Q21 ($ in thousands, except per share data) 4Q22 3Q22 4Q21 % Chg. % Chg. Net Interest Income 37,612 $36,708 $29,855 $2% 26% Provision for Loan & Lease losses 788 974 422 Noninterest Income 7,125 6,250 6,806 14% 5% Noninterest Expense 27,416 27,230 27,823 1% (1%) Income Tax Expense 3,529 3,211 1,761 Net Income (GAAP) 13,004 $11,543 $6,655 $13% 95% Non-GAAP Reconciliations Noninterest Income (144) - - Noninterest Expense (45) 87 2,762 Income Tax Effect Of Adjustments 49 (22) (713) Operating Earnings (Non-GAAP) 12,864 $11,608 $8,704 $11% 48% Operating PTPP Earnings (Non-GAAP) 17,132 $15,815 $11,600 $8% 48% 3Q22 4Q21 Non-GAAP Performance Metrics 4Q22 3Q22 4Q21 % Chg. % Chg. Diluted Operating Earnings Per Share 0.76 $0.69 $0.52 $11% 47% Tangible Book Value Per Common Share 19.09 $18.02 $19.26 $6% (1%) Operating Return on Average Assets 1.10% 0.96% 0.77% Operating PTPP Return on Average Assets 1.46% 1.30% 1.03% Operating Return on Average Tang. Common Equity 16.5% 14.4% 10.7% Operating Efficiency Ratio 61.4% 62.9% 68.1% 4Q22 vs. 4Q22 vs.  |

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| &nbsp;&nbsp;![GRAPHIC](smbk-20230123xex99d2g020.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Branch Network Modernization Q2 2021 20 Digital Consumer Deposit Origination Upgrade Q2 2021 Treasury Management Platform Upgrade Q1 2022 Q2 2021 Cloud - Based Contact Center Enhanced Cyber Security Technology Q2 2021 O PERATING E XPENSE : T ECHNOLOGY I NITIATIVES I NVESTING IN OUR P LATFORM TO M AKE S MART B ANK AN E ASIER O RGANIZATION WITH W HICH TO DO B USINESS Q2 2021 Telecommunications Management Upgrade Q3 2021 Redesigned SmartBank.com Core OS Platform Upgrade Q2 2022 New Consumer Personal Finance Tools Q3 2022 Teller Modernization Bank - Wide Q2 2022 Q1 2023 nCino© Customer Pricing and Profitability Q3 2022 Upgraded Mobile/Digital Services Q2 2022 nCino© Commercial Loan Origination Q2 2022 Centralized Bank Application Support Team $ PAY E MBRACING T ECHNOLOGY TO I NCREASE E FFICIENCY AND C REATE S TREAMLINED P ROCESSES ATM Fleet Replacement with ITM Upgrade Q3 2022 Q3 2022 Digital Consumer Credit/Finance Tools Enhanced Risk & Anti - Fraud Solutions Q1 2023 Consumer Lending Workflow Enhancement Q3 2023 Digital Customer Experience Enhancements Q2 2023 Q2 2023 Treasury Management System Improvement Q1 2023 Phone System Upgrade  |

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| &nbsp;&nbsp;![GRAPHIC](smbk-20230123xex99d2g021.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;N ON - GAAP R ECONCILIATION 21 $ in Thousands, except per share data 1. Operating return on average assets (Non - GAAP) is the annualized operating earnings (Non - GAAP) divided by average assets .. 2. Operating PTPP return on average assets (Non - GAAP) is the annualized operating PTPP earnings (Non - GAAP) divided by average assets .. 3. Return on average tangible common equity (Non - GAAP) is the annualized net income divided by average tangible common equity (Non - GAAP) .. 4. Operating return on average shareholders' equity (Non - GAAP) is the annualized operating earnings (Non - GAAP) divided by average shareholder equity .. 5. Operating return on average tangible common equity (Non - GAAP) is the annualized operating earnings (Non - GAAP) divided by average tangible common equity (Non - GAAP) .. 2022Y 2021Y 2020Y 4Q22 3Q22 2Q22 1Q22 4Q21 Operating Earnings Net Income (GAAP) 43,022 $34,790 $24,332 $13,004 $11,543 $10,215 $8,259 $6,655 $ Noninterest Income: Securities (Gains) Losses (144) (45) (6) (144) - - - - Noninterest Expenses: Merger Related And Restructuring Expenses 562 3,701 4,565 (45) 87 81 439 2,762 Income Taxes: Income Tax Effect Of Adjustments (108) (944) (1071) 49 (22) (21) (113) (713) Operating Earnings (Non-GAAP) 43,332 $37,502 $27,355 $12,864 $11,608 $10,275 $8,585 $8,704 $ Operating Earnings Per Common Share (Non-GAAP): Basic 2.59 $2.41 $1.83 $0.77 $0.69 $0.61 $0.51 $0.52 $ Diluted 2.57 2.39 1.82 0.76 0.69 0.61 0.51 0.52 Operating Noninterest Income Noninterest Income (GAAP) 27,715 $23,949 $15,426 $7,125 $6,250 $7,229 $7,111 $6,806 $ Securities (Gain) Losses (144) (45) (6) (144) - - - - ADECA Termination Proceeds - - (465) - - - - - Operating Noninterest Income (Non-GAAP) 27,571 $23,904 $14,955 $6,981 $6,250 $7,229 $7,111 $6,806 $ Mortgage Banking Income (1552) (4040) (3875) (77) (170) (471) (834) (803) Operating Noninterest Income Excluding Mtg. Banking (Non-GAAP) 26,019 $19,864 $11,080 $6,904 $6,080 $6,758 $6,277 $6,003 $ Operating Noninterest Expense Noninterest Expense (GAAP) 106,290 $91,391 $76,719 $27,416 $27,230 $25,926 $25,718 $27,823 $ Merger Related And Restructuring Expenses (562) (3701) (4565) 45 (87) (81) (439) (2762) Operating Noninterest Expense (Non-GAAP) 105,728 $87,690 $72,154 $27,461 $27,143 $25,845 $25,279 $25,061 $ Operating Revenue Net Interest Income (GAAP) 137,501 $113,394 $100,866 $37,612 $36,708 $33,062 $30,118 $29,855 $ Operating Noninterest Income (Non-GAAP) 27,571 23,904 14,955 6,981 6,250 7,229 7,111 6,806 Operating Revenue (Non-GAAP) 165,072 137,298 115,821 44,593 42,958 40,291 37,229 36,661 Operating Pre-Tax Pre-Provison ("PTPP") Earnings Operating Revenue (Non-GAAP) 165,072 $137,298 $115,821 $44,593 $42,958 $40,291 $37,229 $36,661 $ Operating Noninterest Expense (Non-GAAP) (105728) (87690) (72154) (27461) (27143) (25845) (25279) (25061) Operating PTPP Earnings (Non-GAAP) 59,344 $49,608 $43,667 $17,132 $15,815 $14,446 $11,950 $11,600 $ Non-GAAP Return Ratios Operating Return On Average Assets (Non-GAAP) (1) 0.92% 0.98% 0.89% 1.10% 0.96% 0.88% 0.76% 0.77% Operating PTPP Return On Average Assets (Non-GAAP) (2) 1.27% 1.29% 1.43% 1.46% 1.30% 1.23% 1.05% 1.03% Return On Average Tangible Common Equity (Non-GAAP) (3) 13.60% 11.84% 9.50% 16.65% 14.36% 13.02% 10.39% 8.18% Operating Return On Average Shareholders' Equity (Non-GAAP) (4) 10.24% 9.67% 8.02% 12.15% 10.83% 9.82% 8.14% 8.09% Operating Return On Average Tangible Common Equity (Non-GAAP) (5) 13.69% 12.77% 10.67% 16.47% 14.44% 13.09% 10.80% 10.70% Operating Efficiency Ratio Efficiency Ratio (GAAP) 64.33% 66.54% 65.97% 61.28% 63.39% 64.35% 69.08% 75.89% Adjustment For Taxable Equivalent Yields (0.26%) (0.29%) (0.33%) (0.22%) (0.25%) (0.27%) (0.31%) (0.32%) Adjustment For Securities Gains (Losses) (0.06%) (0.02%) (0.01%) (0.20%) - - - - Adjustment For Merger Expenses (0.22%) (2.64%) (3.88%) 0.50% (0.21%) (0.20%) (1.17%) (7.50%) Operating Efficiency Ratio (Non-GAAP) 63.79% 63.59% 61.75% 61.36% 62.93% 63.88% 67.60% 68.07%  |

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| &nbsp;&nbsp;![GRAPHIC](smbk-20230123xex99d2g022.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;N ON - GAAP R ECONCILIATION 22 $ in Thousands, except per share data 1. Book value per share is computed by dividing total stockholders' equity by common shares outstanding .. Tangible book value per share (Non - GAAP) is computed by dividing total stockholders' equity, less goodwill and other intangible assets by common shares outstanding 2. Totals may not add due to rounding 4Q22 3Q22 2Q22 1Q22 4Q21 Tangible Common Equity: Shareholders' Equity (GAAP) 432,452 $414,711 $420,427 $420,042 $429,430 $ Less Goodwill And Other Intangible Assets 109,772 110,460 104,582 105,215 105,852 Tangible Common Equity (Non-GAAP) 322,680 $304,251 $315,845 $314,827 $323,578 $ Average Tangible Common Equity: Average Shareholders' Equity (GAAP) 420,037 $425,365 $419,726 $427,945 $426,808 $ Less Goodwill And Other Intangible Assets 110,206 106,483 104,986 105,617 104,193 Average Tangible Common Equity (Non-GAAP) 309,831 $318,882 $314,740 $322,328 $322,615 $ Tangible Book Value Per Common Share: Book Value Per Common Share (GAAP) 25.59 $24.56 $24.88 $24.86 $25.56 $ Adjustment Due To Goodwill And Other Intangible Assets (6.50) (6.54) (6.19) (6.23) (6.30) Tangible Book Value Per Common Share (Non-GAAP) (1) 19.09 $18.02 $18.69 $18.64 $19.26 $ Tangible Common Equity To Tangible Assets: Total Assets 4,612,913 $4,796,911 $4,788,113 $4,718,579 $4,611,579 $ Less Goodwill And Other Intangibles 109,772 110,460 104,582 105,215 105,852 Tangible Assets (Non-GAAP) 4,503,141 $4,686,451 $4,683,531 $4,613,364 $4,505,727 $ Tangible Common Equity To Tangible Assets (Non-GAAP): 7.17% 6.49% 6.74% 6.82% 7.18% 4Q22 3Q22 2Q22 1Q22 4Q21 Tangible Common Equity (Excluding AOCI): Shareholders' Equity (GAAP) 432,452 $414,711 $420,427 $420,042 $429,430 $ Less Goodwill And Other Intangible Assets 109,772 110,460 104,582 105,215 105,852 Tangible Common Equity (Non-GAAP) 322,680 $304,251 $315,845 $314,827 $323,578 $ Less Adjustment Due to AOCI (Loss) (35324) (40807) (24648) (15556) 1,443 Tangible Common Equity (Excl. AOCI) (Non-GAAP) 358,004 $345,058 $340,493 $330,383 $322,135 $ Tangible Book Value Per Common Share (Excluding AOCI): Book Value Per Common Share (GAAP) 25.59 $24.56 $24.88 $24.86 $25.56 $ Adjustment Due To Goodwill And Other Intangible Assets (6.50) (6.54) (6.19) (6.23) (6.30) Tangible Book Value Per Common Share (Non-GAAP) (1) 19.09 $18.02 $18.69 $18.64 $19.26 $ Less Adjustment Due to AOCI (Loss) (2.09) (2.42) (1.46) (0.92) 0.09 Tangible Book Value Per Common Share (Excl. AOCI) (Non-GAAP) (1)(2) 21.18 $20.43 $20.15 $19.56 $19.17 $2021Y 2020Y 2019Y 2018Y 2017Y Tangible Common Equity (Excluding AOCI): Shareholders' Equity (GAAP) 429,430 $357,168 $312,747 $283,011 $205,852 $ Less Goodwill And Other Intangible Assets 105,852 86,471 77,193 79,034 50,837 Tangible Common Equity (Non-GAAP) 323,578 $270,697 $235,554 $203,977 $155,015 $ Less Adjustment Due to AOCI (Loss) 1,443 2,183 168 (2765) (1198) Tangible Common Equity (Excl. AOCI) (Non-GAAP) 322,135 $268,514 $235,386 $206,742 $156,213 $ Tangible Book Value Per Common Share (Excluding AOCI): Book Value Per Common Share (GAAP) 25.56 $23.64 $22.33 $20.31 $18.46 $ Adjustment Due To Goodwill And Other Intangible Assets (6.30) (5.72) (5.51) (5.67) (4.56) Tangible Book Value Per Common Share (Non-GAAP) (1) 19.26 $17.92 $16.82 $14.64 $13.90 $ Less Adjustment Due to AOCI (Loss) 0.09 0.14 0.01 (0.20) (0.11) Tangible Book Value Per Common Share (Excl. AOCI) (Non-GAAP) (1)(2) 19.17 $17.77 $16.80 $14.84 $14.01 $ |

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| &nbsp;&nbsp;![GRAPHIC](smbk-20230123xex99d2g023.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C ONTACT 23 B ILLY C ARROLL P RESIDENT & CEO 865.868.0613 B ILLY ..C ARROLL @ SMARTBANK .. COM M ILLER W ELBORN C HAIRMAN 423.385.3067 M ILLER ..W ELBORN @ SMARTBANK .. COM 5401 K INGSTON P IKE , S UITE 600 K NOXVILLE , TN 37919 R ON G ORCZYNSKI C HIEF F INANCIAL O FFICER 865.437.5724 R ON ..G ORCZYNSKI @ SMARTBANK .. COM  |

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| &nbsp;&nbsp;![GRAPHIC](smbk-20230123xex99d2g024.jpg) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24  |

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