KNOXVILLE, Tenn. (AP) _ SmartFinancial Inc. (SMBK) on Tuesday reported fourth-quarter net income of $9 million.

The bank, based in Knoxville, Tennessee, said it had earnings of 59 cents per share. Earnings, adjusted for one-time gains and costs, came to 60 cents per share.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 43 cents per share.

The bank holding company posted revenue of $34.8 million in the period. Its revenue net of interest expense was $31.5 million, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $30.5 million.

For the year, the company reported profit of $24.3 million, or $1.62 per share. Revenue was reported as $116.3 million.

SmarFinancial shares have increased 12% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $20.39, a drop of 13% in the last 12 months.

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

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