This paper presents the analysis of the hysteretic behavior of anchored reinforcing bars with a new finite element model. The Smile element is based on the interpolation of the steel stress distribution and thus, is flexibility-based. It is characterized by robust and stable numerical behavior even in the presence of significant strength loss and softening as might be the case with reinforcing bats of insignificant anchorage length. After a brief description of the salient features of the model, the paper establishes the validity of the model by correlation of analytical with experimental results on anchored reinforcing bars under severe load reversals. Several parametric studies are presented in order to study analytical features of rite model, such as sensitivity to mesh refinement and number of integration points. A second objective of the parametric studies is to investigate the effect of key material parameters on the hysteretic behavior of anchored reinforcing bars.