Smith Gambrell & Russell reported strong revenue and profit growth for 2020, pushing its profit per equity partner (PEP) over $1 million for the first time, even as it avoided layoffs and took a Paycheck Protection Program loan, which did not factor into revenue for 2020.

The firm posted a 4.2% revenue increase to $139.02 million and an 11.9% increase in net income to $55.58 million. That resulted in revenue per lawyer of $577,000 and profit per equity partner of $1.01 million.