Welcome to our dedicated page for Fb Financia news (Ticker: FBK), a resource for investors and traders seeking the latest updates and insights on Fb Financia stock.
FB Financial Corporation (FBK) is a prominent bank holding company, operating primarily through its wholly-owned subsidiary, FirstBank. As the third-largest Tennessee-based bank, FirstBank boasts 45 banking locations throughout Tennessee and mortgage offices spanning the Southeast. The institution serves every major metropolitan area in Tennessee, offering a comprehensive suite of financial services and products.
FB Financial Corporation focuses on two main segments: Banking and Mortgage. The Banking segment caters to corporate, commercial, and consumer customers with a wide range of deposit and lending products and services. Conversely, the Mortgage segment specializes in servicing residential mortgage loans and the packaging and securitization of loans to governmental agencies.
With over $2.2 billion in total assets, FB Financial Corporation is well-capitalized to support its diverse financial offerings. The company has made significant strides in recent years, expanding its geographical footprint and enhancing its product lineup to better serve its growing customer base. This growth is a testament to its strategic partnerships and robust financial health.
FB Financial Corporation continues to strengthen its market presence through innovative financial solutions and a customer-centric approach. The company's commitment to excellence has earned it a reputable standing among its clients and peers in the financial industry.
FB Financial Corporation (NYSE: FBK) reported a Q1 2023 net income of $36.4 million, or $0.78 per diluted share, compared to $0.81 in Q4 2022 and $0.74 in Q1 2022. The adjusted diluted EPS was $0.76, down from $0.85 in the previous quarter. Deposits grew by 12.2% annualized to $11.18 billion, while loans held for investment increased by 2.96% annualized to $9.37 billion. However, the net interest margin decreased to 3.51% from 3.78% in Q4 2022, primarily due to rising deposit costs. The company maintained a healthy liquidity position and improved credit quality metrics. Furthermore, they raised their dividend by 15.4%, reflecting confidence in their capital strength amidst economic uncertainties.
FB Financial Corporation (NYSE:FBK) will announce its 2023 Q1 results on April 17, 2023, after market close. A conference call is scheduled for April 18, 2023, at 8:00 a.m. CT to discuss the results. Investors can join the call by dialing 877-883-0383 with confirmation code 3946795. A replay will be available until April 25, 2023, by calling 877-344-7529. The conference call will also be streamed live online, and an online replay will be accessible for 12 months. FB Financial operates through its subsidiary, FirstBank, which has approximately $12.8 billion in total assets.
FirstBank has announced a strategic investment in Zippy, a fintech company that provides fully digital manufactured home loans. This partnership aims to enhance access to affordable homeownership through innovative lending solutions. Zippy operates in nine states and plans to expand its reach significantly in 2023. The initiative is part of FirstBank's commitment to meet the housing needs of communities, especially as home prices continue to rise. With a robust total asset base of $12.8 billion, FirstBank seeks to leverage its extensive experience in manufactured home lending to create pathways for new homeowners.
FB Financial Corporation (NYSE: FBK) has declared a quarterly cash dividend of $0.15 per share, marking its 20th consecutive dividend payment. This 15% increase compared to previous quarters highlights the company's commitment to delivering shareholder value. The dividend is payable on February 21, 2023, to shareholders of record as of February 7, 2023. With total assets amounting to approximately $12.8 billion, FB Financial operates through its subsidiary, FirstBank, across multiple states including Tennessee, Kentucky, Alabama, and North Georgia.
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