SmartFinancial, Inc. (NASDAQ:SMBK) Q4 2023 Earnings Call Transcript

You got to stay relevant, and you know that. I mean, so we’ve got to make sure that we’ve got the right tools but we feel like most of that’s already into the run rate. And we’ll evaluate as the year goes on and see how the revenue line if — making sure the revenue line comes coming back like we anticipate. Ron, I don’t know if you’ve got any other color.

Ron Gorczynski: No, exactly, Bill. Operationally, we’re sound, were solid. I think it’s more IT related to for fraud-related items software. And also as we keep our infrastructure customer focused. So we’ll always have opportunities to enhance it. But right now, we’re in a good spot.

Operator: Our final question today comes from Stephen Scouten from Piper Sandler.

Stephen Scouten: I just wanted to jump in for a follow-up. I think you had said you might have some color around that litigation issue. I’m not sure if I might have missed that, but just was wondering if there’s any information you lend on that front?

Billy Carroll: Ron, you want to?

Ron Gorczynski: Really, as Bill indicated, the accrual is nonrecurring. It relates to a pending litigation that we expect to be resolved during the first — during this quarter. No other material amounts will be accrued for. Honestly, nothing unusual here. It’s sort of litigation that many banks have been seeing lately. And it’s kind of — that’s pretty much not more much more to say on that.

Operator: I’d like to turn the session back over to Miller Welborn for any final remarks.

Miller Welborn: Thanks, Drew, and thanks again to each of you for joining us today. As always, if you have any additional questions, please feel free to reach out to any of us directly with any questions you might have and hope you have a great week. Goodbye.

Operator: That concludes today’s SmartFinancial Fourth Quarter 2023 Earnings Release and Conference Call. You may now disconnect your lines.