SmarFinancial: Q1 Earnings Snapshot

KNOXVILLE, Tenn. (AP) — KNOXVILLE, Tenn. (AP) — SmartFinancial Inc. (SMBK) on Monday reported first-quarter earnings of $9.4 million.

The Knoxville, Tennessee-based bank said it had earnings of 55 cents per share. Earnings, adjusted for non-recurring gains, were 49 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 41 cents per share.

The bank holding company posted revenue of $68.2 million in the period. Its revenue net of interest expense was $40.1 million, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $39 million.

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