Core Viewpoint - FB Financial Corporation and Southern States Bancshares, Inc. have entered into a definitive merger agreement, with Southern States being merged into FB Financial, enhancing FB Financial's market presence and growth potential in key areas [1][6]. Company Overview - FB Financial Corporation is headquartered in Nashville, Tennessee, operating through FirstBank with 77 branches across Tennessee, Alabama, Kentucky, and North Georgia, and has total assets of approximately $13.2 billion as of December 31, 2024 [10]. - Southern States Bancshares, Inc. is based in Anniston, Alabama, with 15 branches in Alabama and Georgia, and two loan production offices in the Atlanta MSA, reporting total assets of $2.8 billion, loans of $2.2 billion, and deposits of $2.4 billion as of December 31, 2024 [2][11]. Merger Details - Under the merger agreement, Southern States' shareholders will receive 0.800 shares of FB Financial common stock for each share of Southern States stock, valuing the transaction at approximately $381 million based on FB Financial's closing stock price of $47.05 as of March 28, 2025 [4]. - The merger is expected to close in late Q3 or early Q4 of 2025, pending regulatory approvals and shareholder consent [6]. Leadership and Integration - Both companies' CEOs expressed enthusiasm for the merger, highlighting cultural alignment and the potential benefits for shareholders and customers [3]. - Key executives from Southern States, including its President and CFO, will retain significant roles in the combined entity, ensuring continuity and integration of operations [3]. Financial Advisors - Keefe, Bruyette, & Woods, Inc. acted as financial advisor for FB Financial, while Performance Trust Capital Partners, LLC served as financial advisor for Southern States [7].

Financial Overview - As of December 31, 2024, FB Financial Corporation had total assets of $13.16 billion, loans held for investment of $9.60 billion, total deposits of $11.21 billion, and total common shareholders' equity of $1.57 billion[19]. - As of June 30, 2024, FB Financial Corporation ranked 6th among the top 10 banks in Tennessee with total deposits of $9.0 billion and a market share of 4.1%[32]. - As of December 31, 2024, the bank maintained sufficient capital to qualify as "well capitalized" under applicable regulations, with a total risk-based capital ratio of 10% or greater[96]. - The Bank's legal lending limits were approximately $211.6 million (15%) and $352.6 million (25%) based on its Tier 1 capital as of December 31, 2024[48]. Market Presence and Expansion - The Nashville metropolitan area accounted for approximately 41.5% of total deposits, with a market share of 4.7% as of June 30, 2024[34]. - The company announced expansions into the Tuscaloosa, Alabama and Asheville, North Carolina markets during 2024[19]. - The Nashville MSA has become the largest market for the company, with significant growth in both deposits and loans[35]. - The company operates 77 full-service bank branches and several limited service banking locations across its footprint[19]. - As of December 31, 2024, the company operates 77 full-service bank branches and 8 limited service branch locations across multiple states, with a total of 12 mortgage offices[217]. Risk Management - The Bank employs a risk management infrastructure that includes local authority, centralized policymaking, and a system of checks and balances to maintain sound credit quality standards[41]. - The Bank's comprehensive risk management framework is designed to address multiple areas of risk, including credit risk, interest rate risk, and operational risk[50]. - The Credit Risk Committee of the Board of Directors monitors the integrity of the loan portfolio and has the authority to approve credit policies and risk limits[55]. - The Bank's loan approval process is characterized by local authority supported by a control environment for prompt and thorough underwriting of loans[43]. - The Bank's liquidity planning framework focuses on robust forecasting and risk management to ensure predictable funding needs and availability[62]. Community Engagement and Workplace Culture - The company has been recognized as one of Middle Tennessee's Top Workplaces for ten consecutive years, reflecting its commitment to fostering a positive culture[71]. - The company achieved an overall participation rate of 88% in its first all-associate engagement survey, providing valuable insights for future initiatives[72]. - In 2024, associates dedicated over 9,400 hours to volunteer activities benefiting local organizations, reflecting the company's commitment to community engagement[73]. - The Management-to-Leadership Development Series graduated 118 associates, enhancing their leadership skills and aligning personal goals with company objectives[74]. - The company contributed an average of 70% towards total medical premium costs, mitigating rising medical premiums for associates[78]. - The company is committed to fostering a diverse and inclusive workplace, recognizing the strength in the richness of differences among associates[76]. Technology and Operational Efficiency - The company aims to improve efficiency by leveraging technology and scaling operations, investing significantly in personnel and infrastructure[38]. - Key technology upgrades included the implementation of AI-based monitoring tools and enhancements to network infrastructure, aimed at improving operational efficiency and risk management[82]. - The company plans to focus on maximizing existing technology investments while supporting its strategic improvement plan, FirstBank Way, to enhance scalability and efficiency[83]. Regulatory Environment - The company is subject to regulatory capital rules that limit its ability to pay dividends, requiring prior approval from the Federal Reserve under certain conditions[97]. - The Bank is subject to various federal and state consumer protection laws, ensuring compliance through established controls and annual employee training[118]. - The Bank's incentive compensation policies must align with safety and soundness principles, balancing risk and reward[108]. - The FDIC has the authority to terminate the Bank's deposit insurance if it engages in unsafe practices, with depositors' claims prioritized in receivership[104]. - Future legislative developments may significantly impact the banking environment, with potential changes to the Dodd-Frank Act and other regulations being discussed[123]. Loan Portfolio and Credit Risk - As of December 31, 2024, approximately 77% of the loan portfolio consisted of loans with real estate as a primary or secondary component of collateral[134]. - Commercial real estate loans accounted for 36%, commercial and industrial loans for 18%, and construction loans for 11% of the loan portfolio as of December 31, 2024[136]. - The company maintains an allowance for credit losses, which is sensitive to changes in macroeconomic forecasts and may require increases based on economic conditions[129]. - A significant portion of the loan portfolio is exposed to risks from the real estate market, which could lead to increased non-performing loans and losses during economic downturns[135]. - Approximately 69% of loans and 72% of deposits are concentrated in Tennessee, making the company vulnerable to regional economic downturns[144]. - Changes in interest rates could adversely affect net interest income, which is crucial for the company's earnings and financial condition[146]. - The company faces credit risk from commercial real estate loans, which are more difficult to liquidate and may involve larger loan balances[136]. - The company is subject to regulatory scrutiny regarding commercial real estate lending, which may require improved risk management policies[137]. Economic and Competitive Challenges - Economic conditions, competition, and the ability to generate deposits may limit the company's ability to grow its loan portfolio[142]. - The imposition of tariffs and trade restrictions may adversely impact the company's customers, potentially affecting their ability to service debt and, in turn, the company's financial condition[152]. - Uncertain political and financial market conditions may increase future borrowing costs for the company[157]. - The company may incur significant costs from litigation and regulatory actions, which could adversely affect its financial condition[174]. - The company operates primarily in Tennessee, particularly in the highly competitive Nashville MSA, where it faces competition from larger national and regional banks[197]. Cybersecurity and Operational Risks - Cybersecurity threats have increased, with potential liabilities arising from breaches of the company's or its vendors' systems, impacting customer trust and financial performance[185]. - The company has implemented a risk management framework to address various risks, but its effectiveness may not be guaranteed under all circumstances[179]. - The company is exposed to operational risks, including employee fraud and errors, which could lead to financial losses and regulatory sanctions[189]. - The company relies heavily on third-party vendors for critical services, which poses risks if these vendors fail to perform adequately[176]. - The company has implemented a comprehensive cybersecurity strategy, overseen by the Risk Committee, to safeguard information systems and data integrity[209]. - Cybersecurity risk management is integrated into the company's broader risk management framework, with key risk indicators reported quarterly[211]. Strategic Initiatives and Future Outlook - The company intends to pursue acquisitions and consolidation opportunities within core markets, facing competitive challenges in identifying suitable targets[193]. - The company acknowledges substantial risks and uncertainties associated with implementing or acquiring new lines of business, products, and services, with no guarantee of success or expected benefits[200]. - The shift towards alternative financial transaction methods may lead to a loss of fee income and customer deposits, adversely affecting the company's financial condition and liquidity[203]. - The company relies on the accuracy and completeness of customer information for credit decisions, and any inaccuracies could negatively impact its financial condition and operations[204]. - Negative public opinion and reputational risks could adversely affect the company's ability to attract and retain customers, impacting earnings and stock price[205]. - Developments in the banking industry, such as bank failures, may erode client confidence and lead to market volatility, negatively impacting the company's liquidity and results of operations[206].

FB Financial (FBK) could be a solid choice for investors given its recent upgrade to a Zacks Rank #1 (Strong Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.Since a changing ...

Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the 'long' context, investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.Even ...

FB Financial Corporation (NYSE: FBK ) is a Nashville, Tennessee-based company which has been around since 1906 and mainly does business through its fully owned subsidiary, FirstBank. It provides an extensive range of both commercial and consumer banking services—everything from theThe mission of Grassroots Trading rests on the following principles: providing objective, unbiased, and balanced research, backed by solid data and completely void of emotional influences or preference for companies; focusing on s ...

Financial Data and Key Metrics - The company's earnings release, supplemental financial information, and presentation are available on the Investor Relations page of the company's website and on the SEC's website [2] - The call is being recorded and will be available for replay on the company's website approximately an hour after the conclusion of the call [3] Forward-Looking Statements - The company may make forward-looking statements during the presentation, which are based on management's current expectations and assumptions [4] - These statements are subject to risks, uncertainties, and other factors that may cause actual results to differ materially from those expressed or implied [4] - A detailed description of these risks is contained in the company's filings with the SEC [4] Q&A Session - The call will be open for questions after the presentation [3]

FB Financial (FBK) reported $130.38 million in revenue for the quarter ended December 2024, representing a year-over-year increase of 12%. EPS of $0.85 for the same period compares to $0.77 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $130.52 million, representing a surprise of -0.11%. The company delivered an EPS surprise of +1.19%, with the consensus EPS estimate being $0.84.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall ...

2024 Fourth Quarter Earnings Presentation January 21, 2025 Forward–looking statements Certain statements contained in this Presentation 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 statemen ...

FB Financial (FBK) came out with quarterly earnings of $0.85 per share, beating the Zacks Consensus Estimate of $0.84 per share. This compares to earnings of $0.77 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 1.19%. A quarter ago, it was expected that this bank holding company would post earnings of $0.82 per share when it actually produced earnings of $0.86, delivering a surprise of 4.88%.Over the last four quarters, the c ...

Total Assets and Deposits - Total assets increased to $13,157,482 thousand in Dec 2024, up from $12,920,222 thousand in Sep 2024[7] - Total deposits grew to $11,210,434 thousand in Dec 2024, from $10,976,211 thousand in Sep 2024[7] - Total assets increased by 4.39% to $13.16 billion in Dec 2024 compared to $12.60 billion in Dec 2023[14] - Total deposits grew by 6.28% to $11.21 billion in Dec 2024 from $10.55 billion in Dec 2023[14] - Total assets slightly increased to $12,725,748 in 2024 from $12,668,834 in 2023[27] - Total assets increased to $13,157,482 in Dec 2024, up from $12,604,403 in Dec 2023[63] Net Interest Income and Margin - Net interest income rose to $108,381 thousand in Dec 2024, compared to $106,017 thousand in Sep 2024[7] - Net interest margin (NIM) on a tax-equivalent basis was 3.50% in Dec 2024, compared to 3.55% in Sep 2024[7] - Net interest income rose by 2.23% to $108,381 in Dec 2024 compared to Sep 2024, and by 7.21% compared to Dec 2023[10] - Net interest income rose by 2.28% to $416.5 million in Dec 2024 from $407.2 million in Dec 2023[12] - Net interest income rose to $109,004 thousand from $106,634 thousand in the prior quarter, reflecting a net interest margin of 3.50% compared to 3.55% previously[16] - Net interest income for Q2 2024 increased to $103.254 million, up from $100.199 million in Q1 2024 and $101.924 million in Q4 2023[21] - Net interest margin (NIM) improved to 3.57% in Q2 2024, compared to 3.42% in Q1 2024 and 3.46% in Q4 2023[21] - Net interest income rose to $419,091 in 2024 from $410,562 in 2023, with a net interest margin of 3.51% compared to 3.44% in 2023[27] - Net interest income (tax equivalent basis) increased to $109.0 million in Q4 2024 from $101.9 million in Q4 2023[58] - Banking segment net interest income (tax-equivalent basis) for Q4 2024 was $107.416 million, up from $104.952 million in Q3 2024[60] Net Income and Earnings - Net income applicable to FB Financial Corporation was $37,886 thousand in Dec 2024, up from $10,220 thousand in Sep 2024[7] - Net income applicable to FB Financial Corporation surged by 270.7% to $37,886 in Dec 2024 compared to Sep 2024, and by 29.0% compared to Dec 2023[10] - Net income applicable to FB Financial Corporation decreased by 3.48% to $116.0 million in Dec 2024 from $120.2 million in Dec 2023[12] - Adjusted net income for Dec 2024 was $39.8 million, up from $36.2 million in Dec 2023[54] - Adjusted tangible net income for the year ended Dec 2024 was $161.5 million, up from $143.7 million in 2023[56] - Net income for Dec 2024 was $37,886, compared to $29,369 in Dec 2023[66] - Adjusted tangible net income for the year ended Dec 2024 was $161,460, compared to $143,738 in Dec 2023[66] Loans and Credit Quality - Nonperforming loans HFI as a percentage of loans HFI decreased to 0.87% in Dec 2024, down from 0.96% in Sep 2024[7] - Loans held for investment increased by 2.06% to $9.60 billion in Dec 2024 from $9.41 billion in Dec 2023[14] - Loans HFI (Held for Investment) averaged $9,522,996 thousand with an interest income of $155,897 thousand, yielding 6.51%, slightly down from 6.70% in the previous quarter[16] - Loans HFI (Held for Investment) yield increased to 6.70% in Q2 2024, up from 6.64% in Q1 2024 and 6.59% in Q4 2023[21] - Loans HFI (Held for Investment) average balances increased to $9,384,458 in 2024 from $9,335,977 in 2023, with an average yield of 6.64% compared to 6.38% in 2023[27] - Allowance for credit losses on loans HFI at the end of the period was $151,942, representing 1.58% of loans HFI, a decrease from 1.65% in the previous quarter[41] - Total charge-offs for the quarter were $12,010, with Commercial and Industrial charge-offs accounting for $10,921[41] - Total recoveries for the quarter were $673, with Commercial and Industrial recoveries contributing $371[41] - Total nonperforming assets increased to $121,915, representing 0.93% of total assets, up from 0.99% in the previous quarter[41] Capital and Equity Ratios - Total common shareholders' equity to assets ratio was 11.9% in Dec 2024, slightly down from 12.1% in Sep 2024[7] - Tier 1 leverage ratio remained stable at 11.3% in Dec 2024, consistent with Sep 2024[7] - Total common shareholders' equity rose by 7.75% to $1.57 billion in Dec 2024 compared to $1.45 billion in Dec 2023[14] - Total common shareholders' equity grew to $1,505,739 in 2024 from $1,374,831 in 2023[27] - Tangible Common Equity to Tangible Assets ratio improved to 10.2%, up from 9.74% in the previous year[47] - Common Equity Tier 1 Capital ratio increased to 12.8%, up from 12.2% in the previous year[47] - Total Risk-Based Capital ratio rose to 15.2%, up from 14.5% in the previous year[47] - Tangible common equity rose to $1,319,215 in Dec 2024, compared to $1,203,524 in Dec 2023[63] - Book value per common share grew to $33.59 in Dec 2024 from $31.05 in Dec 2023[63] - Tangible book value per common share increased to $28.27 in Dec 2024 from $25.69 in Dec 2023[63] Efficiency and Expense Ratios - Efficiency ratio improved to 56.1% in Dec 2024, down from 85.1% in Sep 2024[7] - Total noninterest expense decreased by 3.99% to $73,174 in Dec 2024 compared to Sep 2024, and by 8.76% compared to Dec 2023[10] - Total noninterest expenses decreased by 8.63% to $296.9 million in Dec 2024 from $324.9 million in Dec 2023[12] - Core efficiency ratio for the banking segment improved to 50.2% in Dec 2024 from 56.5% in Dec 2023[50] - Core efficiency ratio (tax equivalent basis) improved to 54.6% in Q4 2024 from 61.7% in Q4 2023[58] - Total noninterest expense decreased to $73.2 million in Q4 2024 from $80.2 million in Q4 2023[58] - Banking segment core efficiency ratio (tax-equivalent basis) improved to 50.2% in Q4 2024 from 54.1% in Q3 2024[60] - Mortgage segment core efficiency ratio (tax-equivalent basis) was 98.3% in Q4 2024, compared to 95.4% in Q3 2024[61] Revenue and Income - Total revenue grew by 45.6% to $130,378 in Dec 2024 compared to Sep 2024, and by 12.0% compared to Dec 2023[10] - Total revenue declined by 4.64% to $455.6 million in Dec 2024 compared to $477.8 million in Dec 2023[12] - Total interest income increased by 0.40% to $186,369 in Dec 2024 compared to Sep 2024, and by 6.60% compared to Dec 2023[10] - Total interest income increased by 6.95% to $725.5 million in Dec 2024 compared to $678.4 million in Dec 2023[12] - Total interest-earning assets increased to $12,374,945 thousand with an average yield of 6.01% for the three months ended December 31, 2024, compared to $11,951,730 thousand and 6.20% in the previous quarter[16] - Total interest-earning assets averaged $11.632 billion in Q2 2024, with a yield of 6.16%, compared to $11.796 billion and 6.03% yield in Q1 2024[21] - Total interest-earning assets increased to $11,939,808 in 2024 from $11,919,312 in 2023, with an average yield of 6.10% compared to 5.72% in 2023[27] - Core revenue (tax-equivalent basis) increased to $514.6 million in 2024 from $497.2 million in 2023[58] - Banking segment total core revenue (tax-equivalent basis) for Q4 2024 was $120.889 million, compared to $117.046 million in Q3 2024[60] - Mortgage segment total revenue for Q4 2024 was $12.274 million, down from $13.555 million in Q3 2024[61] Noninterest Income and Expenses - Total noninterest income (loss) decreased by 233.3% to $21,997 in Dec 2024 compared to Sep 2024, but increased by 43.4% compared to Dec 2023[10] - Total noninterest income decreased by 44.6% to $39.1 million in Dec 2024 from $70.5 million in Dec 2023[12] - Core noninterest income rose to $24.2 million in Q4 2024 from $18.7 million in Q4 2023[58] - Banking segment noninterest income (loss) for Q4 2024 was $11.311 million, a significant improvement from a loss of $28.370 million in Q3 2024[60] - Mortgage segment core noninterest income for Q4 2024 was $10.686 million, compared to $11.863 million in Q3 2024[61] Mortgage Segment Performance - Mortgage segment pre-tax net contribution improved to $262,000 in Dec 2024 from a loss of $2.03 million in Dec 2023[50] - Mortgage loan sales decreased to $287.3 million in Dec 2024 from $327.3 million in Sep 2024[50] - Mortgage sale margin was 2.71% in Dec 2024, down from 2.84% in Sep 2024[50] - Interest rate lock commitments volume decreased to $315.9 million in Dec 2024 from $381.2 million in Sep 2024[50] - Total mortgage banking income was $10.6 million in Dec 2024, down from $11.6 million in Sep 2024[50] - Mortgage segment core noninterest expense for Q4 2024 was $12.061 million, down from $12.927 million in Q3 2024[60] - Mortgage segment net interest income for Q4 2024 was $1.588 million, a slight decrease from $1.682 million in Q3 2024[60] Provisions and Credit Losses - Provision for credit losses on loans HFI surged by 278.2% to $7,019 in Dec 2024 compared to Sep 2024, and by 123.9% compared to Dec 2023[10] - Provisions for credit losses were $7.1 million in Q4 2024, up from $305 thousand in Q4 2023[56] - FDIC special assessment was $500 thousand in 2024, down from $1.8 million in 2023[56] Liquidity and Investment Securities - Total on-balance sheet liquidity reached $1,643,453 million in Dec 2024, compared to $1,353,359 million in Dec 2023[32] - Cash and cash equivalents grew to $1,042,488 million (63% of on-balance sheet liquidity) in Dec 2024, up from $810,932 million (60%) in Dec 2023[32] - Total available-for-sale debt securities increased to $1,538,008 million in Dec 2024, up from $1,471,973 million in Dec 2023, with U.S. government agency securities rising to $563,007 million (36% of total) from $203,956 million (14%)[32] - Residential mortgage-backed securities decreased to $810,999 million (53% of total) in Dec 2024 from $896,971 million (62%) in Dec 2023[32] - Investment securities totaled $1,691,581 thousand with an average yield of 3.87%, up from $1,668,665 thousand and 3.68% in the prior quarter[16] - Investment securities averaged $1.657 billion in Q2 2024, with a yield of 3.29%, compared to $1.641 billion and 2.71% yield in Q1 2024[21] - Investment securities average balances increased to $1,664,649 in 2024 from $1,661,398 in 2023, with an average yield of 3.39% compared to 2.22% in 2023[27] - Average net unrealized losses on investment securities available for sale decreased to $119,243 thousand from $153,838 thousand in the prior quarter[17] Commercial and Industrial Loans - Commercial and industrial loans remained stable at $1,691,213 million (18% of total loans) in Dec 2024, slightly down from $1,720,733 million (18%) in Dec 2023[36] - Unfunded loan commitments for commercial and industrial loans increased to $1,371,413 million (50% of total unfunded loans) in Dec 2024 from $1,262,234 million (44%) in Dec 2023[36] - Total unfunded loan commitments decreased to $2,770,105 million in Dec 2024 from $2,894,687 million in Dec 2023[36] Metropolitan Market Performance - Metropolitan market loans accounted for 82% of total loans in Dec 2024 at $7,934,549 million, up from $7,830,739 million (83%) in Dec 2023[36] - Metropolitan deposits accounted for 73% of total deposits, totaling $8,136,849, an increase from 71% in the previous quarter[43] Consumer Deposits and Uninsured Deposits - Consumer deposits represented 43% of total deposits, totaling $4,853,609, consistent with the previous quarter[43] - Estimated uninsured and uncollateralized deposits decreased to 25.5% of total deposits, down from 30.3% in the previous quarter[43] Return on Equity and Assets - Return on average assets improved to 1.14% in Dec 2024, compared to 0.32% in Sep 2024[7] - Return on average tangible common equity was 11.5% in Dec 2024, up from 10.3% in Dec 2023[66] - Adjusted return on average tangible common equity for the year ended Dec 2024 was 12.9%, slightly up from 12.8% in Dec 2023[66] Adjusted Financial Metrics - Adjusted pre-tax pre-provision net revenue for Q4 2024 was $59.8 million, compared to $53.8 million in Q3 2024 and $45.4 million in Q4 2023[56] - Adjusted pre-tax pre-provision net income for the year ended Dec 2024 was $217,140, compared to $180,952 in Dec 2023[66] Banking Segment Performance - Banking segment net interest income increased to $106.8 million in Dec 2024, up from $99.8 million in Dec 2023[50] - Total assets in the banking segment grew to $12.55 billion in Dec 2024, compared to $12.05 billion in Dec 2023[50] - Banking segment core noninterest expense for Q4 2024 was $60.65 million, a decrease from $63.285 million in Q3 2024[60] - Banking segment total core revenue (tax-equivalent basis) for Q4 2024 was $120.889 million, compared to $117.046 million in Q3 2024[60] Earnings Per Share - Basic earnings per common share increased by 268.2% to $0.81 in Dec 2024 compared to Sep 2024, and by 28.6% compared to Dec 2023[10] - Fully diluted earnings per common share - adjusted decreased by 1.16% to $0.85 in Dec 2024 compared to Sep 2024, but increased by 10.4% compared to Dec 2023[10] - Adjusted diluted earnings per common share increased to $0.85 in Dec 2024 from $0.77 in Dec 2023[54]