SmartFinancial, Inc. announced unaudited consolidated earnings results for the fourth quarter ended December 31, 2017. For the period, the company reported total interest income of $17,244,000 against $10,977,000 a year ago. Earnings before income taxes were $3,913,000 against $2,607,000 a year ago. Net income available to common shareholders $38,000 or 0.00 per basic and diluted share against $1,377,000 or 0.22 per diluted share a year ago. Annualized return on average assets equaled 0.01% compared to 0.64% a year ago, Return on average shareholder equity was 0.08% against 6.24 % reported last year. Book value per share was $18.46 against $15.81 reported a year ago. Tangible book value (Non-GAAP) was $13.90 against $14.69 reported a year ago. Net interest income was $15,341,000 against $9,856,000 a year ago.

The company provided effective tax rate guidance for the full year 2018. The company expects an effective tax rate of approximately 26% in 2018. The company also expects lowering of the corporate tax rate in 2018.