Good day, and welcome to the SmartFinancial Second Quarter 2018 Earnings Call. (Operator Instructions).
Please note, this event is being recorded. I would now like to turn the conference over to Frank Hughes. Please go ahead.
Thank you, Jasmine. Good morning, and thank you for joining us today on our Second Quarter 2018 Earnings Call. With me this morning is Miller Welborn, Chairman of SmartFinancial Inc.; Billy Carroll, President and CEO; Ron Gorczynski, Chief Administrative Officer; and Bryan Johnson, our CFO. After our prepared remarks, we will then take questions.
Yesterday evening, we issued an earnings release discussing our second quarter results. We have also prepared a slide presentation, which we will refer to during our remarks this morning. Both of these can be found on our website at smartbank.com in the Investor Relations section.
(Forward-Looking Cautionary Statements)
I will now turn the call over to Chairman of the Board, Miller Welborn.
Thanks, Frank. Good morning. I appreciate you all joining on this morning. We are excited to talk about another good quarter for SmartBank. A couple of bullet points and thoughts as we get started. Our plan and our process are continuing on target. Our asset growth has been strong as we passed the $2 billion mark this quarter. Our earnings growth is strong, our credit metrics are certainly strong. We did get another acquisition closed in the second quarter and another transaction announced with the Foothills transaction, and we are continuing to see very healthy markets with strong management in place. We as a bank are tracking exactly where we promised our board and our shareholders we would be at this time in our journey. And with those bullet points, I'm going to turn it over to Billy and let him talk about a few of the specifics. Billy?
Thank you, Miller. And good morning, everybody on the call. I'm going, to begin with some -- a few highlights for our quarter and the year. And then I'm going to turn it over to Bryan Johnson, our CFO, and let Bryan dive into the financial results in a little bit greater detail. Then he'll turn it back over to me, and I'll wrap up with some color on what I expect as we move into the second half of 2018.
Overall, as Miller said, a very solid quarter for us, and I feel really good about where the bank is positioned. Our second quarter was highlighted, as he said, with the closing of our Tennessee Bancshares, Southern Community Bank acquisition. Closed that deal on May 1, so we had two months of Southern's numbers in these Q2 numbers that you're seeing today. We're also currently preparing for conversion and rebranding of those offices. This is still scheduled for August 10 and excited to get the Southern Community Bank integrated and rebranded and SmartBank on those offices in those new markets.
We anticipate the bank fully having integrated with all cost saves by the end of the third quarter. And
EVP of SmartFinancial Investment & Institutional IR
Chairman of the Board
President and CEO
Chief Administrative Officer
We are pleased that you like our content! Sign Up now to access premium content for free, a very limited time offer.
Welcome! Create your account
You are successfully registered!
An activation link has been sent to your mail. Please activate and login.