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Side-by-side financial comparison of Bank First Corp (BFC) and SMARTFINANCIAL INC. (SMBK). Click either name above to swap in a different company.
SMARTFINANCIAL INC. is the larger business by last-quarter revenue ($53.8M vs $44.9M, roughly 1.2× Bank First Corp). Bank First Corp runs the higher net margin — 45.8% vs 25.4%, a 20.4% gap on every dollar of revenue. Over the past eight quarters, SMARTFINANCIAL INC.'s revenue compounded faster (15.4% CAGR vs 9.1%).
First Horizon Corporation, formerly First Tennessee Bank, is a financial services company, founded in 1864, and based in Memphis, Tennessee. Through its banking subsidiary First Horizon Bank, it provides financial services through locations in 12 states across the Southeast, a region in which it is the fourth largest regional bank.
SmartFinancial Inc. is a U.S.-based bank holding company that operates its wholly owned subsidiary SmartBank. It offers a full range of retail and commercial banking products including deposit accounts, personal and business loans, mortgage services, and wealth management solutions, primarily serving individual customers and small-to-medium enterprises across the Southeastern United States.
BFC vs SMBK — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $44.9M | $53.8M |
| Net Profit | $18.4M | $13.7M |
| Gross Margin | — | — |
| Operating Margin | 51.0% | — |
| Net Margin | 45.8% | 25.4% |
| Revenue YoY | 12.1% | — |
| Net Profit YoY | 4.8% | 21.6% |
| EPS (diluted) | $1.87 | $0.81 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $53.8M | ||
| Q4 25 | $44.9M | $53.3M | ||
| Q3 25 | $44.2M | $51.1M | ||
| Q2 25 | $41.6M | $49.2M | ||
| Q1 25 | $43.1M | $46.8M | ||
| Q4 24 | $40.1M | $46.8M | ||
| Q3 24 | $40.8M | $44.2M | ||
| Q2 24 | $38.9M | $40.4M |
| Q1 26 | — | $13.7M | ||
| Q4 25 | $18.4M | $13.7M | ||
| Q3 25 | $18.0M | $13.7M | ||
| Q2 25 | $16.9M | $11.7M | ||
| Q1 25 | $18.2M | $11.3M | ||
| Q4 24 | $17.5M | $9.6M | ||
| Q3 24 | $16.6M | $9.1M | ||
| Q2 24 | $16.1M | $8.0M |
| Q1 26 | — | — | ||
| Q4 25 | 51.0% | 31.3% | ||
| Q3 25 | 50.8% | 33.2% | ||
| Q2 25 | 49.7% | 29.0% | ||
| Q1 25 | 51.3% | 29.0% | ||
| Q4 24 | 54.4% | 26.5% | ||
| Q3 24 | 50.7% | 24.3% | ||
| Q2 24 | 51.0% | 25.6% |
| Q1 26 | — | 25.4% | ||
| Q4 25 | 45.8% | 25.7% | ||
| Q3 25 | 40.7% | 26.8% | ||
| Q2 25 | 40.5% | 23.8% | ||
| Q1 25 | 42.3% | 24.0% | ||
| Q4 24 | 49.3% | 20.6% | ||
| Q3 24 | 40.6% | 20.7% | ||
| Q2 24 | 41.3% | 19.8% |
| Q1 26 | — | $0.81 | ||
| Q4 25 | $1.87 | $0.81 | ||
| Q3 25 | $1.83 | $0.81 | ||
| Q2 25 | $1.71 | $0.69 | ||
| Q1 25 | $1.82 | $0.67 | ||
| Q4 24 | $1.75 | $0.57 | ||
| Q3 24 | $1.65 | $0.54 | ||
| Q2 24 | $1.59 | $0.48 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $243.2M | $346.1M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $643.8M | $562.2M |
| Total Assets | $4.5B | $5.9B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $346.1M | ||
| Q4 25 | $243.2M | $464.4M | ||
| Q3 25 | $126.2M | $557.1M | ||
| Q2 25 | $120.3M | $365.1M | ||
| Q1 25 | $300.9M | $423.0M | ||
| Q4 24 | $261.3M | $387.6M | ||
| Q3 24 | $204.4M | $192.9M | ||
| Q2 24 | $99.0M | $342.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $1.3M | ||
| Q2 25 | — | $7.0M | ||
| Q1 25 | — | $7.6M | ||
| Q4 24 | — | $8.1M | ||
| Q3 24 | — | $9.0M | ||
| Q2 24 | — | $12.7M |
| Q1 26 | — | $562.2M | ||
| Q4 25 | $643.8M | $552.4M | ||
| Q3 25 | $628.1M | $538.4M | ||
| Q2 25 | $612.3M | $519.0M | ||
| Q1 25 | $648.4M | $505.8M | ||
| Q4 24 | $639.7M | $491.3M | ||
| Q3 24 | $628.9M | $489.0M | ||
| Q2 24 | $614.6M | $472.5M |
| Q1 26 | — | $5.9B | ||
| Q4 25 | $4.5B | $5.9B | ||
| Q3 25 | $4.4B | $5.8B | ||
| Q2 25 | $4.4B | $5.5B | ||
| Q1 25 | $4.5B | $5.4B | ||
| Q4 24 | $4.5B | $5.3B | ||
| Q3 24 | $4.3B | $4.9B | ||
| Q2 24 | $4.1B | $4.9B |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 0.00× | ||
| Q2 25 | — | 0.01× | ||
| Q1 25 | — | 0.02× | ||
| Q4 24 | — | 0.02× | ||
| Q3 24 | — | 0.02× | ||
| Q2 24 | — | 0.03× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $62.5M | — |
| Free Cash FlowOCF − Capex | $51.0M | — |
| FCF MarginFCF / Revenue | 113.6% | — |
| Capex IntensityCapex / Revenue | 25.5% | — |
| Cash ConversionOCF / Net Profit | 3.40× | — |
| TTM Free Cash FlowTrailing 4 quarters | $75.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $62.5M | $61.7M | ||
| Q3 25 | $15.5M | $16.9M | ||
| Q2 25 | $11.9M | $14.0M | ||
| Q1 25 | $6.2M | $14.3M | ||
| Q4 24 | $65.8M | $52.7M | ||
| Q3 24 | $18.8M | $12.4M | ||
| Q2 24 | $14.9M | $16.5M |
| Q1 26 | — | — | ||
| Q4 25 | $51.0M | $59.3M | ||
| Q3 25 | $12.5M | $16.6M | ||
| Q2 25 | $8.2M | $13.2M | ||
| Q1 25 | $4.0M | $13.4M | ||
| Q4 24 | $58.6M | $46.3M | ||
| Q3 24 | $16.9M | $11.3M | ||
| Q2 24 | $13.7M | $15.4M |
| Q1 26 | — | — | ||
| Q4 25 | 113.6% | 111.3% | ||
| Q3 25 | 28.2% | 32.4% | ||
| Q2 25 | 19.8% | 26.9% | ||
| Q1 25 | 9.3% | 28.5% | ||
| Q4 24 | 146.3% | 98.9% | ||
| Q3 24 | 41.5% | 25.7% | ||
| Q2 24 | 35.3% | 38.2% |
| Q1 26 | — | — | ||
| Q4 25 | 25.5% | 4.5% | ||
| Q3 25 | 6.7% | 0.6% | ||
| Q2 25 | 8.7% | 1.6% | ||
| Q1 25 | 5.0% | 2.0% | ||
| Q4 24 | 18.0% | 13.7% | ||
| Q3 24 | 4.5% | 2.4% | ||
| Q2 24 | 3.1% | 2.7% |
| Q1 26 | — | — | ||
| Q4 25 | 3.40× | 4.50× | ||
| Q3 25 | 0.86× | 1.23× | ||
| Q2 25 | 0.70× | 1.20× | ||
| Q1 25 | 0.34× | 1.27× | ||
| Q4 24 | 3.75× | 5.47× | ||
| Q3 24 | 1.13× | 1.36× | ||
| Q2 24 | 0.93× | 2.07× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BFC
Segment breakdown not available.
SMBK
| Net Interest Income | $45.9M | 85% |
| Noninterest Income | $7.9M | 15% |
