FB Financial Corporation Reports Fourth Quarter 2024 Financial Results
FB Financial (NYSE: FBK) reported Q4 2024 net income of $37.9 million, or $0.81 per diluted share, compared to $0.22 in Q3 and $0.63 in Q4 2023. Adjusted earnings per share were $0.85, compared to $0.86 in Q3 and $0.77 in Q4 2023.
The company showed strong growth with loans held for investment reaching $9.60 billion (5.22% annualized increase) and total deposits of $11.21 billion (8.49% annualized increase). Net interest margin was 3.50%, slightly down from 3.55% in Q3 but up from 3.46% in Q4 2023.
Credit quality metrics showed net charge-offs of 0.47% of average loans, primarily due to a single commercial relationship. The company maintained a strong capital position with a preliminary total risk-based capital ratio of 15.2% and common equity tier 1 ratio of 12.8%.
FB Financial (NYSE: FBK) ha riportato un reddito netto per il quarto trimestre del 2024 di $37,9 milioni, ovvero $0,81 per azione diluita, rispetto a $0,22 nel terzo trimestre e $0,63 nel quarto trimestre del 2023. Gli utili per azione rettificati sono stati di $0,85, rispetto a $0,86 nel terzo trimestre e $0,77 nel quarto trimestre del 2023.
L'azienda ha mostrato una forte crescita con prestiti detenuti per investimento che hanno raggiunto $9,60 miliardi (un aumento annualizzato del 5,22%) e depositi totali di $11,21 miliardi (un aumento annualizzato dell'8,49%). Il margine di interesse netto è stato del 3,50%, leggermente in calo rispetto al 3,55% nel terzo trimestre, ma in aumento rispetto al 3,46% nel quarto trimestre del 2023.
I parametri di qualità del credito hanno mostrato cancellazioni nette dello 0,47% dei prestiti medi, principalmente a causa di un singolo rapporto commerciale. L'azienda ha mantenuto una solida posizione di capitale con un rapporto preliminare di capitale totale basato sul rischio del 15,2% e un rapporto di capitale di base comune di livello 1 del 12,8%.
FB Financial (NYSE: FBK) reportó un ingreso neto de $37,9 millones para el cuarto trimestre de 2024, o $0,81 por acción diluida, en comparación con $0,22 en el tercer trimestre y $0,63 en el cuarto trimestre de 2023. Las ganancias por acción ajustadas fueron de $0,85, comparado con $0,86 en el tercer trimestre y $0,77 en el cuarto trimestre de 2023.
La compañía mostró un fuerte crecimiento con préstamos mantenidos para inversión alcanzando $9,60 mil millones (aumento anualizado del 5,22%) y depósitos totales de $11,21 mil millones (aumento anualizado del 8,49%). El margen de interés neto fue del 3,50%, ligeramente por debajo del 3,55% en el tercer trimestre, pero superior al 3,46% en el cuarto trimestre de 2023.
Los indicadores de calidad crediticia mostraron cancelaciones netas del 0,47% de los préstamos promedio, principalmente debido a una única relación comercial. La empresa mantuvo una sólida posición de capital con un ratio preliminar de capital total basado en riesgos del 15,2% y un ratio de capital común de nivel 1 del 12,8%.
FB Financial (NYSE: FBK)는 2024년 4분기 순이익이 3,790만 달러, 즉 희석 주당 0.81달러를 기록했다고 보고했습니다. 이는 3분기 0.22달러, 2023년 4분기 0.63달러에 비해 증가한 수치입니다. 조정 주당 순이익은 0.85달러로, 3분기 0.86달러, 2023년 4분기 0.77달러에 비해 소폭 감소했습니다.
회사는 투자용 대출이 96억 달러에 도달(연환산 증가율 5.22%)하고 총 예금이 112억 달러에 달하는 등 강력한 성장을 보였습니다(연환산 증가율 8.49%). 순이자 마진은 3.50%로, 3분기 3.55%에서 소폭 감소했지만, 2023년 4분기 3.46%에 비해 증가했습니다.
신용 품질 지표에서 평균 대출의 순 대손상각률이 0.47%로 나타났으며, 이는 주로 단일 상업적 관계 때문입니다. 회사는 위험 기반 총 자본 비율이 15.2%로, 보통주 자본 비율이 12.8%에 달하는 강력한 자본 위치를 유지했습니다.
FB Financial (NYSE: FBK) a déclaré un bénéfice net de 37,9 millions de dollars pour le quatrième trimestre 2024, soit 0,81 dollar par action diluée, contre 0,22 dollar au troisième trimestre et 0,63 dollar au quatrième trimestre 2023. Les bénéfices par action ajustés ont été de 0,85 dollar, comparativement à 0,86 dollar au troisième trimestre et 0,77 dollar au quatrième trimestre 2023.
L’entreprise a montré une forte croissance avec des prêts détenus pour investissement atteignant 9,60 milliards de dollars (augmentation annualisée de 5,22%) et des dépôts totaux s’élevant à 11,21 milliards de dollars (augmentation annualisée de 8,49%). La marge d'intérêt nette était de 3,50%, légèrement en baisse par rapport à 3,55% au troisième trimestre, mais en hausse par rapport à 3,46% au quatrième trimestre 2023.
Les indicateurs de qualité du crédit ont montré des créances nettes de 0,47% des prêts moyens, principalement en raison d'une seule relation commerciale. L’entreprise a maintenu une solide position de capital avec un ratio de capital total basé sur le risque préliminaire de 15,2% et un ratio de capital de base commun de 12,8%.
FB Financial (NYSE: FBK) berichtete für das vierte Quartal 2024 einen Nettogewinn von 37,9 Millionen USD, was 0,81 USD pro verwässerter Aktie entspricht, im Vergleich zu 0,22 USD im dritten Quartal und 0,63 USD im vierten Quartal 2023. Die bereinigten Erträge je Aktie betrugen 0,85 USD, verglichen mit 0,86 USD im dritten Quartal und 0,77 USD im vierten Quartal 2023.
Das Unternehmen zeigte ein starkes Wachstum, wobei die Investitionskredite 9,60 Milliarden USD erreichten (jährliche Steigerung von 5,22%) und die Gesamteinlagen 11,21 Milliarden USD betrugen (jährliche Steigerung von 8,49%). Die Nettozinsspanne betrug 3,50%, was leicht unter den 3,55% im dritten Quartal, aber über den 3,46% im vierten Quartal 2023 liegt.
Die Kennzahlen zur Kreditqualität zeigten eine Nettoabschreibung von 0,47% der durchschnittlichen Kredite, hauptsächlich aufgrund einer einzelnen Geschäftsbeziehung. Das Unternehmen hielt eine starke Kapitalbasis mit einem vorläufigen Gesamtkapitalquotienten von 15,2% und einem Kernkapitalquote von 12,8% aufrecht.
- Net income increased to $37.9 million from $10.2 million in previous quarter
- Loans held for investment grew 5.22% annualized to $9.60 billion
- Total deposits increased 8.49% annualized to $11.21 billion
- Core efficiency ratio improved to 54.6% from 58.4% in previous quarter
- Strong capital position with 15.2% total risk-based capital ratio
- Net interest margin declined to 3.50% from 3.55% in previous quarter
- Noninterest-bearing deposits decreased to $2.12 billion from $2.23 billion
- Net charge-offs increased to 0.47% from 0.03% in previous quarter
- Nonperforming assets ratio increased to 0.93% from 0.69% year-over-year
Insights
FB Financial delivered solid Q4 2024 results with adjusted EPS of
Key positives include improved efficiency with core efficiency ratio dropping to
Credit quality metrics warrant attention - net charge-offs jumped to
The balance sheet positioning reflects prudent risk management. The increase in deposits (
The tangible common equity ratio of
FB Financial's market position remains competitive in its core Tennessee market. The ability to grow core deposits by
The bank's efficiency improvements and capital build strategy position it well for potential M&A opportunities in 2025. With a market cap of
Reports Q4 Diluted EPS of
The Company ended the fourth quarter with loans held for investment (“HFI”) of
President and Chief Executive Officer, Christopher T. Holmes stated, “The Company continued producing both deposit and loan growth during the quarter, resulting in increased net interest income. The growth came with an improved GAAP return on average assets of
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Annualized |
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(dollars in thousands, except share data) |
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Dec 2024 |
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Sep 2024 |
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Dec 2023 |
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Dec 24 / Sep 24
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Dec 24 / Dec 23
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Balance Sheet Highlights |
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Investment securities, at fair value |
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$ |
1,538,008 |
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$ |
1,567,922 |
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$ |
1,471,973 |
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(7.59 |
)% |
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4.49 |
% |
Loans held for sale |
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126,760 |
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103,145 |
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67,847 |
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91.1 |
% |
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86.8 |
% |
Loans HFI |
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9,602,384 |
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9,478,129 |
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9,408,783 |
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5.22 |
% |
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2.06 |
% |
Allowance for credit losses on loans HFI |
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(151,942 |
) |
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(156,260 |
) |
|
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(150,326 |
) |
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(11.0 |
)% |
|
1.07 |
% |
Total assets |
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13,157,482 |
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12,920,222 |
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12,604,403 |
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7.31 |
% |
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4.39 |
% |
Interest-bearing deposits (non-brokered) |
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8,625,113 |
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8,230,867 |
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8,179,430 |
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19.1 |
% |
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5.45 |
% |
Brokered deposits |
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469,089 |
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519,200 |
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150,475 |
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(38.4 |
)% |
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211.7 |
% |
Noninterest-bearing deposits |
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2,116,232 |
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2,226,144 |
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2,218,382 |
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(19.6 |
)% |
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(4.60 |
)% |
Total deposits |
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11,210,434 |
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10,976,211 |
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10,548,287 |
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8.49 |
% |
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6.28 |
% |
Borrowings |
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176,789 |
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182,107 |
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390,964 |
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(11.6 |
)% |
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(54.8 |
)% |
Allowance for credit losses on unfunded commitments |
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6,107 |
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6,042 |
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8,770 |
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4.28 |
% |
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(30.4 |
)% |
Total common shareholders’ equity |
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1,567,538 |
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1,562,329 |
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1,454,794 |
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1.33 |
% |
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7.75 |
% |
Book value per common share |
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$ |
33.59 |
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$ |
33.48 |
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$ |
31.05 |
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1.31 |
% |
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8.18 |
% |
Tangible book value per common share* |
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$ |
28.27 |
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$ |
28.15 |
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$ |
25.69 |
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1.70 |
% |
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10.0 |
% |
Total common shareholders’ equity to total assets |
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11.9 |
% |
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12.1 |
% |
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11.5 |
% |
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||
Tangible common equity to tangible assets* |
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10.2 |
% |
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10.4 |
% |
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9.74 |
% |
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||
*Non-GAAP financial measure; A reconciliation of non-GAAP measures to the most directly comparable GAAP measure is included in the Company’s Fourth Quarter 2024 Financial Supplement. |
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Three Months Ended |
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(dollars in thousands, except share data) |
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Dec 2024 |
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Sep 2024 |
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Dec 2023 |
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Statement of Income Highlights |
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Net interest income |
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$ |
108,381 |
|
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$ |
106,017 |
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$ |
101,088 |
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NIM |
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3.50 |
% |
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3.55 |
% |
|
|
3.46 |
% |
Noninterest income (loss) |
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$ |
21,997 |
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|
$ |
(16,497 |
) |
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$ |
15,339 |
|
(Loss) gain from securities, net |
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$ |
— |
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$ |
(40,165 |
) |
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$ |
183 |
|
Total revenue |
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$ |
130,378 |
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$ |
89,520 |
|
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$ |
116,427 |
|
Noninterest expense |
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$ |
73,174 |
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$ |
76,212 |
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$ |
80,200 |
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Early retirement and severance costs |
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$ |
463 |
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$ |
— |
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$ |
2,214 |
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Efficiency ratio |
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56.1 |
% |
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85.1 |
% |
|
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68.9 |
% |
Core efficiency ratio* |
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54.6 |
% |
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58.4 |
% |
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61.7 |
% |
Pre-tax, pre-provision net revenue |
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$ |
57,204 |
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$ |
13,308 |
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$ |
36,227 |
|
Adjusted pre-tax, pre-provision net revenue* |
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$ |
59,829 |
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$ |
53,762 |
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$ |
45,390 |
|
Provisions for credit losses |
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$ |
7,084 |
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$ |
1,914 |
|
|
$ |
305 |
|
Net charge-offs (recoveries) ratio |
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0.47 |
% |
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0.03 |
% |
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(0.04 |
)% |
Net income applicable to FB Financial Corporation |
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$ |
37,886 |
|
|
$ |
10,220 |
|
|
$ |
29,369 |
|
Diluted earnings per common share |
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$ |
0.81 |
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$ |
0.22 |
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$ |
0.63 |
|
Effective tax rate |
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24.4 |
% |
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10.3 |
% |
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|
18.2 |
% |
Adjusted net income* |
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$ |
39,835 |
|
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$ |
40,132 |
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$ |
36,152 |
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Adjusted diluted earnings per common share* |
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$ |
0.85 |
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$ |
0.86 |
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$ |
0.77 |
|
Weighted average number of shares outstanding - fully diluted |
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46,862,935 |
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46,803,330 |
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46,916,939 |
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Returns on average: |
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Return on average total assets (“ROAA”) |
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1.14 |
% |
|
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0.32 |
% |
|
|
0.94 |
% |
Adjusted* |
|
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1.20 |
% |
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1.25 |
% |
|
|
1.15 |
% |
Return on average shareholders’ equity |
|
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9.63 |
% |
|
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2.67 |
% |
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|
8.41 |
% |
Return on average tangible common equity (“ROATCE”)* |
|
|
11.5 |
% |
|
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3.19 |
% |
|
|
10.3 |
% |
Adjusted* |
|
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12.2 |
% |
|
|
12.7 |
% |
|
|
12.9 |
% |
*Non-GAAP financial measure; A reconciliation of non-GAAP measures to the most directly comparable GAAP measure is included in the Company’s Fourth Quarter 2024 Financial Supplement. |
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Balance Sheet and Net Interest Margin
The Company reported loans HFI of
The Company reported total deposits of
The Company’s net interest income on a tax-equivalent basis increased in the fourth quarter of 2024 to
Holmes continued, “The Company achieved core deposit growth of
Noninterest Income
Core noninterest income* was
Mortgage banking income declined to
Noninterest Expense
Core noninterest expense* during the fourth quarter of 2024 was
Chief Financial Officer Michael Mettee commented, “Improvement in operating efficiency was a highlight this quarter driven by strong revenue growth and expenses that met expectations.”
Credit Quality
In the fourth quarter, the Company recorded provision expenses of
The Company had net charge-offs of
The Company’s nonperforming loans HFI as a percentage of total loans HFI decreased to
Holmes commented, “Annualized net charge-offs for the quarter were 47 basis points due to the charge-off of a relationship that was previously disclosed and had a related specific reserve. Excluding the impact of this charge-off, our allowance for credit losses increased as a percent of loans HFI as we continue to maintain a healthy reserve that keeps us prepared for a full range of economic conditions.”
Capital
The Company continued its capital build in the fourth quarter, resulting in a preliminary total risk-based capital ratio of
Holmes continued, “The Company continues to build capital for organic and strategic opportunities. We are well situated for opportunities or challenges, but are optimistic about a strong economic environment in our markets in 2025.”
Summary
Holmes finalized, “The team finished 2024 with strong revenue growth, managed expenses and a solid balance sheet. We head into 2025 with optimism and momentum.”
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*Non-GAAP financial measure; A reconciliation of non-GAAP measures to the most directly comparable GAAP measure is included in the Company’s Fourth Quarter 2024 Financial Supplement. |
WEBCAST AND CONFERENCE CALL INFORMATION
FB Financial Corporation will host a conference call to discuss the Company’s financial results on January 21, 2025, at 8:00 a.m. (Central Time). To listen to the call, participants should dial 1-877-883-0383 (confirmation code 6995872) approximately 10 minutes prior to the call. A telephonic replay will be available approximately two hours after the call through January 28, 2025, by dialing 1-877-344-7529 and entering confirmation code 7270666.
A live online broadcast of the Company’s quarterly conference call will be available online at https://event.choruscall.com/mediaframe/webcast.html?webcastid=CYYSGkob. An online replay will be available on the Company’s website approximately two hours after the conclusion of the call and will remain available for 12 months.
ABOUT FB FINANCIAL CORPORATION
FB Financial Corporation (NYSE: FBK) is a financial holding company headquartered in
SUPPLEMENTAL FINANCIAL INFORMATION AND EARNINGS PRESENTATION
Investors are encouraged to review this Earnings Release in conjunction with the Fourth Quarter 2024 Financial Supplement and Earnings Presentation posted on the Company’s website, which can be found at https://investors.firstbankonline.com. This Earnings Release, the Fourth Quarter 2024 Financial Supplement and the Earnings Presentation are also included with a Current Report on Form 8-K that the Company furnished to the
FORWARD-LOOKING STATEMENTS
Certain statements contained in this Earnings Release that are not historical in nature may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, statements regarding the Company’s future plans, results, strategies, and expectations, including expectations around changing economic markets. These statements can generally be identified by the use of the words and phrases “may,” “will,” “should,” “could,” “would,” “goal,” “plan,” “potential,” “estimate,” “project,” “believe,” “intend,” “anticipate,” “expect,” “target,” “aim,” “predict,” “continue,” “seek,” and other variations of such words and phrases and similar expressions. These forward-looking statements are not historical facts, and are based upon management’s current expectations, estimates, and projections, many of which, by their nature, are inherently uncertain and beyond the Company’s control. The inclusion of these forward-looking statements should not be regarded as a representation by the Company or any other person that such expectations, estimates, and projections will be achieved. Accordingly, the Company cautions shareholders and investors that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions, and uncertainties that are difficult to predict. Actual results may prove to be materially different from the results expressed or implied by the forward-looking statements. A number of factors could cause actual results to differ materially from those contemplated by the forward-looking statements including, without limitation, (1) current and future economic conditions, including the effects of inflation, interest rate fluctuations, changes in the economy or global supply chain, supply-demand imbalances affecting local real estate prices, and high unemployment rates in the local or regional economies in which the Company operates and/or the US economy generally, (2) changes or the lack of changes in government interest rate policies and the associated impact on the Company’s business, net interest margin, and mortgage operations, (3) increased competition for deposits, (4) changes in the quality or composition of the Company’s loan or investment portfolios, including adverse developments in borrower industries or in the repayment ability of individual borrowers or issuers of investment securities, or the impact of interest rates on the value of our investment securities portfolio, (5) any deterioration in commercial real estate market fundamentals, (6) the Company’s ability to identify potential candidates for, consummate, and achieve synergies from, potential future acquisitions, (7) the Company’s ability to manage any unexpected outflows of uninsured deposits and avoid selling investment securities or other assets at an unfavorable time or at a loss, (8) the Company’s ability to successfully execute its various business strategies, (9) changes in state and federal legislation, regulations or policies applicable to banks and other financial service providers, including legislative developments, (10) the effectiveness of the Company’s controls and procedures to detect, prevent, mitigate and otherwise manage the risk of fraud or misconduct by internal or external parties, including attempted physical-security and cybersecurity attacks, denial-of-service attacks, hacking, phishing, social-engineering attacks, malware intrusion, data-corruption attempts, system breaches, identity theft, ransomware attacks, environmental conditions, and intentional acts of destruction, (11) the Company’s dependence on information technology systems of third party service providers and the risk of systems failures, interruptions, or breaches of security, and (12) the impact, extent and timing of technological changes, (13) concentrations of credit or deposit exposure, (14) the impact of natural disasters, pandemics, acts of war or terrorism, or other catastrophic events, (15) events giving rise to international or regional political instability, including the broader impacts of such events on financial markets and/or global macroeconomic environments, and/or (16) general competitive, economic, political, and market conditions. Further information regarding the Company and factors which could affect the forward-looking statements contained herein can be found in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, and in any of the Company’s subsequent filings with the SEC. Many of these factors are beyond the Company’s ability to control or predict. If one or more events related to these or other risks or uncertainties materialize, or if the underlying assumptions prove to be incorrect, actual results may differ materially from the forward-looking statements. Accordingly, shareholders and investors should not place undue reliance on any such forward-looking statements. Any forward-looking statement speaks only as of the date of this Earnings Release, and the Company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law. New risks and uncertainties may emerge from time to time, and it is not possible for the Company to predict their occurrence or how they will affect the Company.
The Company qualifies all forward-looking statements by these cautionary statements.
GAAP RECONCILIATION AND USE OF NON-GAAP FINANCIAL MEASURES
This Earnings Release contains certain financial measures that are not measures recognized under
The Company’s management uses these non-GAAP financial measures in their analysis of the Company’s performance, financial condition and the efficiency of its operations as management believes such measures facilitate period-to-period comparisons and provide meaningful indications of its operating performance as they eliminate both gains and charges that management views as non-recurring or not indicative of operating performance. Management believes that these non-GAAP financial measures provide a greater understanding of ongoing operations and enhance comparability of results with prior periods as well as demonstrate the effects of significant non-core gains and charges in the current and prior periods. The Company’s management also believes that investors find these non-GAAP financial measures useful as they assist investors in understanding the Company’s underlying operating performance and in the analysis of ongoing operating trends. In addition, because intangible assets such as goodwill and the other items excluded each vary extensively from company to company, the Company believes that the presentation of this information allows investors to more easily compare the Company’s results to the results of other companies. However, the non-GAAP financial measures discussed herein should not be considered in isolation or as a substitute for the most directly comparable or other financial measures calculated in accordance with GAAP. Moreover, the manner in which the Company calculates the non-GAAP financial measures discussed herein may differ from that of other companies reporting measures with similar names. Investors should understand how such other banking organizations calculate their financial measures with names similar to the non-GAAP financial measures the Company has discussed herein when comparing such non-GAAP financial measures.
A reconciliation of these measures to the most directly comparable GAAP financial measures is included in the Company’s Fourth Quarter 2024 Financial Supplement, which is available at https://investors.firstbankonline.com.
Financial Summary and Key Metrics |
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(Unaudited) |
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(dollars in thousands, except share data) |
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As of or for the Three Months Ended |
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Dec 2024 |
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Sep 2024 |
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Dec 2023 |
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Selected Balance Sheet Data |
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|
|
||||||
Cash and cash equivalents |
|
$ |
1,042,488 |
|
|
$ |
951,750 |
|
|
$ |
810,932 |
|
Investment securities, at fair value |
|
|
1,538,008 |
|
|
|
1,567,922 |
|
|
|
1,471,973 |
|
Loans held for sale |
|
|
126,760 |
|
|
|
103,145 |
|
|
|
67,847 |
|
Loans HFI |
|
|
9,602,384 |
|
|
|
9,478,129 |
|
|
|
9,408,783 |
|
Allowance for credit losses on loans HFI |
|
|
(151,942 |
) |
|
|
(156,260 |
) |
|
|
(150,326 |
) |
Total assets |
|
|
13,157,482 |
|
|
|
12,920,222 |
|
|
|
12,604,403 |
|
Interest-bearing deposits (non-brokered) |
|
|
8,625,113 |
|
|
|
8,230,867 |
|
|
|
8,179,430 |
|
Brokered deposits |
|
|
469,089 |
|
|
|
519,200 |
|
|
|
150,475 |
|
Noninterest-bearing deposits |
|
|
2,116,232 |
|
|
|
2,226,144 |
|
|
|
2,218,382 |
|
Total deposits |
|
|
11,210,434 |
|
|
|
10,976,211 |
|
|
|
10,548,287 |
|
Borrowings |
|
|
176,789 |
|
|
|
182,107 |
|
|
|
390,964 |
|
Allowance for credit losses on unfunded commitments |
|
|
6,107 |
|
|
|
6,042 |
|
|
|
8,770 |
|
Total common shareholders’ equity |
|
|
1,567,538 |
|
|
|
1,562,329 |
|
|
|
1,454,794 |
|
Selected Statement of Income Data |
|
|
|
|
|
|
||||||
Total interest income |
|
$ |
186,369 |
|
|
$ |
185,628 |
|
|
$ |
174,835 |
|
Total interest expense |
|
|
77,988 |
|
|
|
79,611 |
|
|
|
73,747 |
|
Net interest income |
|
|
108,381 |
|
|
|
106,017 |
|
|
|
101,088 |
|
Total noninterest income (loss) |
|
|
21,997 |
|
|
|
(16,497 |
) |
|
|
15,339 |
|
Total noninterest expense |
|
|
73,174 |
|
|
|
76,212 |
|
|
|
80,200 |
|
Earnings before income taxes and provisions for credit losses |
|
|
57,204 |
|
|
|
13,308 |
|
|
|
36,227 |
|
Provisions for credit losses |
|
|
7,084 |
|
|
|
1,914 |
|
|
|
305 |
|
Income tax expense |
|
|
12,226 |
|
|
|
1,174 |
|
|
|
6,545 |
|
Net income applicable to noncontrolling interest |
|
|
8 |
|
|
|
— |
|
|
|
8 |
|
Net income applicable to FB Financial Corporation |
|
$ |
37,886 |
|
|
$ |
10,220 |
|
|
$ |
29,369 |
|
Net interest income (tax-equivalent basis) |
|
$ |
109,004 |
|
|
$ |
106,634 |
|
|
$ |
101,924 |
|
Adjusted net income* |
|
$ |
39,835 |
|
|
$ |
40,132 |
|
|
$ |
36,152 |
|
Adjusted pre-tax, pre-provision net revenue* |
|
$ |
59,829 |
|
|
$ |
53,762 |
|
|
$ |
45,390 |
|
Per Common Share |
|
|
|
|
|
|
||||||
Diluted net income |
|
$ |
0.81 |
|
|
$ |
0.22 |
|
|
$ |
0.63 |
|
Adjusted diluted net income* |
|
|
0.85 |
|
|
|
0.86 |
|
|
|
0.77 |
|
Book value |
|
|
33.59 |
|
|
|
33.48 |
|
|
|
31.05 |
|
Tangible book value* |
|
|
28.27 |
|
|
|
28.15 |
|
|
|
25.69 |
|
Weighted average number of shares outstanding - fully diluted |
|
|
46,862,935 |
|
|
|
46,803,330 |
|
|
|
46,916,939 |
|
Period-end number of shares |
|
|
46,663,120 |
|
|
|
46,658,019 |
|
|
|
46,848,934 |
|
Selected Ratios |
|
|
|
|
|
|
||||||
Return on average: |
|
|
|
|
|
|
||||||
Assets |
|
|
1.14 |
% |
|
|
0.32 |
% |
|
|
0.94 |
% |
Shareholders’ equity |
|
|
9.63 |
% |
|
|
2.67 |
% |
|
|
8.41 |
% |
Tangible common equity* |
|
|
11.5 |
% |
|
|
3.19 |
% |
|
|
10.3 |
% |
Efficiency ratio |
|
|
56.1 |
% |
|
|
85.1 |
% |
|
|
68.9 |
% |
Core efficiency ratio (tax-equivalent basis)* |
|
|
54.6 |
% |
|
|
58.4 |
% |
|
|
61.7 |
% |
Loans HFI to deposit ratio |
|
|
85.7 |
% |
|
|
86.4 |
% |
|
|
89.2 |
% |
Noninterest-bearing deposits to total deposits |
|
|
18.9 |
% |
|
|
20.3 |
% |
|
|
21.0 |
% |
Net interest margin (tax-equivalent basis) |
|
|
3.50 |
% |
|
|
3.55 |
% |
|
|
3.46 |
% |
Yield on interest-earning assets |
|
|
6.01 |
% |
|
|
6.20 |
% |
|
|
5.96 |
% |
Cost of interest-bearing liabilities |
|
|
3.40 |
% |
|
|
3.63 |
% |
|
|
3.47 |
% |
Cost of total deposits |
|
|
2.70 |
% |
|
|
2.83 |
% |
|
|
2.65 |
% |
Credit Quality Ratios |
|
|
|
|
|
|
||||||
Allowance for credit losses on loans HFI as a percentage of loans HFI |
|
|
1.58 |
% |
|
|
1.65 |
% |
|
|
1.60 |
% |
Annualized net charge-offs (recoveries) as a percentage of average loans HFI |
|
|
0.47 |
% |
|
|
0.03 |
% |
|
|
(0.04 |
)% |
Nonperforming loans HFI as a percentage of loans HFI |
|
|
0.87 |
% |
|
|
0.96 |
% |
|
|
0.65 |
% |
Nonperforming assets as a percentage of total assets |
|
|
0.93 |
% |
|
|
0.99 |
% |
|
|
0.69 |
% |
Preliminary Capital Ratios (consolidated) |
|
|
|
|
|
|
||||||
Total common shareholders’ equity to assets |
|
|
11.9 |
% |
|
|
12.1 |
% |
|
|
11.5 |
% |
Tangible common equity to tangible assets* |
|
|
10.2 |
% |
|
|
10.4 |
% |
|
|
9.74 |
% |
Tier 1 leverage |
|
|
11.3 |
% |
|
|
11.5 |
% |
|
|
11.3 |
% |
Tier 1 risk-based capital |
|
|
13.1 |
% |
|
|
13.0 |
% |
|
|
12.5 |
% |
Total risk-based capital |
|
|
15.2 |
% |
|
|
15.1 |
% |
|
|
14.5 |
% |
Common equity Tier 1 |
|
|
12.8 |
% |
|
|
12.7 |
% |
|
|
12.2 |
% |
*Non-GAAP financial measure; A reconciliation of non-GAAP measures to the most directly comparable GAAP measure is included in the Company’s Fourth Quarter 2024 Financial Supplement. |
||||||||||||
(FBK - ER)
View source version on businesswire.com: https://www.businesswire.com/news/home/20250121338521/en/
MEDIA CONTACT:
Dustin Haupt
615-370-6737
dustin.haupt@firstbankonline.com
www.firstbankonline.com
FINANCIAL CONTACT:
Michael Mettee
615-564-1212
mmettee@firstbankonline.com
investorrelations@firstbankonline.com
Source: FB Financial Corporation
FAQ
What was FB Financial's (FBK) earnings per share in Q4 2024?
How much did FBK's deposits grow in Q4 2024?
What was FBK's net interest margin in Q4 2024?
What was FBK's loan growth rate in Q4 2024?
How did FBK's credit quality metrics perform in Q4 2024?
