The market expects FB Financial (FBK) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended September 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates. The earnings report, which is expected to be released on October 15, 2024, might help the stock move higher if these key number ...

Cash and Cash Equivalents - Cash and cash equivalents decreased to $800.9 million as of June 30, 2024, compared to $1.16 billion as of June 30, 2023[142] Interest Income and Net Interest Income - Total interest income increased to $177.4 million for the three months ended June 30, 2024, up from $170.2 million in the same period in 2023[142] - Net interest income rose to $102.6 million for the three months ended June 30, 2024, compared to $101.5 million in the same period in 2023[142] - Net interest margin (tax-equivalent basis) increased to 3.57% for the three months ended June 30, 2024, up from 3.40% in the same period in 2023[142] - Yield on interest-earning assets rose to 6.16% for the three months ended June 30, 2024, compared to 5.67% in the same period in 2023[142] - Net interest income increased to $103.3 million for the three months ended June 30, 2024, compared to $102.4 million for the same period in 2023, driven by a $7.0 million increase in interest income partially offset by a $6.2 million increase in interest expense[163] - Net interest margin (tax-equivalent basis) increased to 3.57% for the three months ended June 30, 2024, compared to 3.40% for the same period in 2023[166] - Net interest income decreased by $3.4 million to $203.5 million for the six months ended June 30, 2024 compared to $206.9 million for the same period in 2023[169] - Interest income increased by $23.6 million to $354.9 million for the six months ended June 30, 2024, driven by higher yields on average earning assets[169] - Net interest income on a tax-equivalent basis was $203,453 thousand in 2024, slightly down from $206,876 thousand in 2023[172] Noninterest Income - Total noninterest income increased to $25.6 million for the three months ended June 30, 2024, up from $23.8 million in the same period in 2023[142] - Noninterest income increased by $1.8 million to $25.6 million in Q2 2024, driven by a $2.1 million cash life insurance benefit[152] - Noninterest income decreased by $13.6 million (29%) to $33.6 million for the six months ended June 30, 2024 compared to $47.2 million for the same period in 2023[178] - Investment services and trust income increased by $1.5 million to $6.6 million for the six months ended June 30, 2024 compared to $5.2 million for the same period in 2023[178] - Net loss from investment securities was $16.2 million for the six months ended June 30, 2024 compared to a net gain of $41 thousand for the same period in 2023[178] Net Income and Earnings Per Share - Net income applicable to FB Financial Corporation was $40 million for the three months ended June 30, 2024, compared to $35.3 million in the same period in 2023[142] - Basic net income per common share increased to $0.85 for the three months ended June 30, 2024, up from $0.75 in the same period in 2023[142] - Net income applicable to FB Financial Corporation rose to $39.98 million in Q2 2024 from $35.30 million in Q2 2023[150] - Net income increased to $40.0 million for Q2 2024, up from $35.3 million in Q2 2023, with diluted earnings per share rising to $0.85 from $0.75[152] - Net income for the first six months of 2024 decreased to $67.9 million from $71.7 million in the same period of 2023, with diluted earnings per share falling to $1.45 from $1.53[152] Return on Assets and Equity - Return on average assets improved to 1.30% for the three months ended June 30, 2024, compared to 1.10% in the same period in 2023[142] - Return on average tangible common equity increased to 13.1% in Q2 2024 from 12.6% in Q2 2023[150] Loan Portfolio and Credit Quality - Allowance for credit losses on loans HFI as a percentage of loans HFI increased to 1.67% in Q2 2024 from 1.51% in Q2 2023[143] - Nonperforming loans HFI as a percentage of loans HFI rose to 0.79% in Q2 2024 compared to 0.47% in Q2 2023[143] - The provision for credit losses on loans HFI was $3.9 million for the three months ended June 30, 2024, compared to $2.6 million in the same period in 2023[176] - A reversal of provision for credit losses on unfunded commitments was $1.7 million for the three months ended June 30, 2024, compared to $3.7 million in 2023[176] - The provision for credit losses on loans HFI for the six months ended June 30, 2024 was $5.8 million, down from $7.6 million in 2023[176] - A reversal of provision for credit losses on unfunded commitments for the six months ended June 30, 2024 was $2.8 million, compared to $8.2 million in 2023[176] - Nonperforming assets increased to $101.5 million as of June 30, 2024, up from $86.5 million as of December 31, 2023[201] - Nonperforming loans HFI rose by $12.3 million to $73.2 million as of June 30, 2024, primarily in commercial real estate owner-occupied and construction portfolios[202] - Delinquent GNMA optional repurchase loans increased to $22.4 million as of June 30, 2024, compared to $21.2 million as of December 31, 2023[203] - Nonperforming loans HFI as a percentage of total loans HFI increased to 0.79% as of June 30, 2024, up from 0.65% as of December 31, 2023[203] - Total allowance for credit losses on loans HFI increased to $155.1 million as of June 30, 2024, up from $150.3 million as of December 31, 2023[206] - Net charge-offs for the six months ended June 30, 2024, were $1.1 million, compared to $1.1 million for the same period in 2023[208] - Provision for credit losses on loans HFI for the six months ended June 30, 2024, was $5.8 million, down from $7.6 million for the same period in 2023[208] - Allowance for credit losses on loans HFI as a percentage of loans increased to 1.67% as of June 30, 2024, up from 1.60% as of December 31, 2023[208] - Nonperforming assets as a percentage of total assets increased to 0.81% as of June 30, 2024, up from 0.69% as of December 31, 2023[203] - Net interest recoveries on nonperforming assets previously charged off were $1.0 million for the six months ended June 30, 2024, up from $0.4 million for the same period in 2023[201] - Provision for credit losses on loans HFI for Q2 2024 was $3.94 million, compared to $2.58 million in Q2 2023[210] - Net charge-offs for Q2 2024 were $0.55 million, or 0.02% of average loans HFI, compared to $0.72 million, or 0.03% in Q2 2023[212] - Total nonperforming loans HFI as a percentage of total loans HFI increased by 14 basis points to 0.79% as of June 30, 2024[212] - Allowance for credit losses on unfunded commitments decreased to $6.0 million as of June 30, 2024 from $8.8 million as of December 31, 2023[213] - Unfunded loan commitments decreased by 11.9% annualized or $172.0 million during the period, with a $209.1 million decrease in the construction loan category[213] Deposits - Total deposits were $10.47 billion as of June 30, 2024, compared to $10.55 billion as of December 31, 2023[215] - Noninterest-bearing deposits decreased by $31.2 million from December 31, 2023 to June 30, 2024, while interest-bearing checking deposits increased by $124.1 million[215] - Mortgage escrow deposits increased to $107.8 million as of June 30, 2024 from $63.6 million as of December 31, 2023[216] - Public funds deposits decreased by $75.8 million during the period due to management's decision to not renew certain maturing public deposits[216] - Customer time deposits decreased by $125.9 million from December 31, 2023, driven by three large depositor relationship customers shifting deposits for higher yields[216] - Total deposits decreased to $10,468,002 thousand as of June 30, 2024, from $10,548,287 thousand as of December 31, 2023, with a weighted average interest rate increase from 2.39% to 2.76%[217] - Consumer deposits accounted for 45% of total deposits as of June 30, 2024, down from 46% as of December 31, 2023, while commercial deposits increased from 39% to 41%[219] - Estimated uninsured and uncollateralized deposits increased to 30.6% of total deposits as of June 30, 2024, up from 29.7% as of December 31, 2023[221] - Customer time deposits decreased to $1,343,934 thousand as of June 30, 2024, from $1,469,811 thousand as of December 31, 2023, with a higher average rate of 3.95% compared to 3.15%[217] - Brokered and internet time deposits remained stable at $150,361 thousand as of June 30, 2024, with an average rate increase to 5.37% from 5.27% as of December 31, 2023[217] - Time deposits of $250 and less had a weighted average interest rate of 3.83% as of June 30, 2024, with the majority maturing within six months[220] Securities and Investments - Securities purchased under agreements to resell increased to $59.4 million as of June 30, 2024, from $47.8 million as of December 31, 2023[223] - The fair value of the AFS debt securities portfolio was $1.48 billion as of June 30, 2024, with net unrealized losses of $182.2 million due to interest rate increases[224] - During the six months ended June 30, 2024, the company purchased $366.6 million in AFS debt securities and sold $207.9 million, reinvesting proceeds into securities with a higher weighted average yield of 5.94%[224] - Total AFS debt securities fair value as of June 30, 2024 is $1,482,379 thousand with a weighted average yield of 3.46%[226] - U.S. government agency securities fair value increased to $428,608 thousand as of June 30, 2024, up from $203,956 thousand in December 2023[226] - Mortgage-backed securities fair value decreased to $880,375 thousand as of June 30, 2024 from $913,932 thousand in December 2023[226] - Securities sold under agreements to repurchase totaled $21.8 million as of June 30, 2024, up from $19.3 million in December 2023[229] - Federal funds purchased totaled $55.0 million as of June 30, 2024, down from $89.4 million in December 2023[229] - FHLB short-term advances borrowing capacity was $1.44 billion as of June 30, 2024, down from $1.76 billion in December 2023[230] - Outstanding borrowings under the Bank Term Funding Program were $130.0 million as of June 30, 2024 with a borrowing rate of 4.85%[231] - Total subordinated debt, net of unamortized debt issuance costs, was $130,511 thousand as of June 30, 2024[233] - Pledged securities related to government, public, trust, and other deposits had carrying values of $869.6 million as of June 30, 2024[235] - Unsecured lines of credit with other commercial banks totaled $370.0 million as of June 30, 2024[235] Liquidity and Capital - Current on-balance sheet liquidity increased to $1,413,658 thousand as of June 30, 2024, compared to $1,353,359 thousand as of December 31, 2023[236] - Total available sources of liquidity decreased to $6,886,661 thousand as of June 30, 2024, from $7,078,812 thousand as of December 31, 2023[236] - On-balance sheet liquidity as a percentage of total assets increased to 11.3% as of June 30, 2024, from 10.7% as of December 31, 2023[236] - Total shareholders' equity increased to $1.50 billion as of June 30, 2024, from $1.45 billion as of December 31, 2023[237] - Book value per common share increased to $32.17 as of June 30, 2024, from $31.05 as of December 31, 2023[237] - Total risk-based capital ratio was 15.1% as of June 30, 2024, well above the regulatory requirement of 10.0%[238] - Tier 1 risk-based capital ratio was 13.0% as of June 30, 2024, above the regulatory requirement of 8.0%[238] - Common Equity Tier 1 ratio was 12.7% as of June 30, 2024, above the regulatory requirement of 6.5%[238] Interest Rate Sensitivity - A +400 basis points increase in interest rates would result in a 7.78% increase in net interest income as of June 30, 2024[240] - A +400 basis points increase in interest rates would result in a 16.7% decrease in the economic value of equity as of June 30, 2024[241] Efficiency and Expense Management - Core efficiency ratio (tax-equivalent basis) decreased to 58.3% in Q2 2024 from 63.5% in Q2 2023[146] - Noninterest expense decreased by $6.2 million to $75.1 million for the three months ended June 30, 2024 compared to $81.3 million for the same period in 2023[180] - Noninterest expense decreased by $14.2 million to $147.5 million for the six months ended June 30, 2024 compared to $161.7 million for the same period in 2023[180] - Salaries, commissions and employee benefits expense decreased by $5.8 million (11%) to $46.2 million for the three months ended June 30, 2024 compared to $52.0 million for the same period in 2023[180] - Salaries, commissions and employee benefits expense decreased by $10.0 million (10%) to $90.8 million for the six months ended June 30, 2024 compared to $100.8 million for the same period in 2023[180] - The efficiency ratio improved to 58.6% for the three months ended June 30, 2024 compared to 64.8% for the same period in 2023[181] - The efficiency ratio improved to 62.6% for the six months ended June 30, 2024 compared to 64.1% for the same period in 2023[181] Loan Portfolio Composition - The loans HFI portfolio comprises 74.3% and 74.6% of total assets as of June 30, 2024, and December 31, 2023, respectively[186] - Loans held for investment included approximately $237.9 million and $254.6 million related to participated loans as of June 30, 2024, and December 31, 2023, respectively[186] - Loan participations sold during the three months ended June 30, 2024, and 2023, were $9.0 million and $11.9 million, respectively[186] - Loan participations sold during the six months ended June 30, 2024, and 2023, were $17.0 million and $16.3 million, respectively[186] - The construction concentration ratio was 77.5% and 75.7% for FirstBank and FB Financial Corporation, respectively, as of June 30, 2024[187] - The commercial real estate concentration ratio was 248.5% and 243.0% for FirstBank and FB Financial Corporation, respectively, as of June 30, 2024[187] - The total commercial and industrial loans committed and outstanding as of June 30, 2024, were $2,900,320 thousand and $1,614,307 thousand, respectively[191] - The total commercial real estate owner-occupied loans committed and outstanding as of June 30, 2024, were $1,352,203 thousand and $1,274,705 thousand, respectively[191] - Nonperforming loans in the commercial and

Given these factors, it shouldn't be surprising that FBK is a #2 (Buy) stock and boasts a Momentum Score of A. If you're looking for a fresh pick that's set to soar in the near-term, make sure to keep FB Financial on your short list. In order to see if FBK is a promising momentum pick, let's examine some Momentum Style elements to see if this bank holding company holds up. Below, we take a look at FB Financial (FBK) , which currently has a Momentum Style Score of A. We also discuss some of the main drivers ...

Writing about FB Financial (NYSE:FBK) in October of 2023, my feelings were that there was nothing really wrong with this Tennessee-based community lender, but there was likewise nothing really compelling about the outlook or the valuation to make it a preferred option. That was clearly a bad call, as the shares have since climbed almost 60%, outpacing regional banks as a group, as well as most Southeast banks in general (which have been outperforming as a group, with 50%-plus appreciation over that period n ...

Good morning, and welcome to the FB Financial Corporation's second quarter 2024 earnings conference call. Hosting the call today from FB Financial are Mr. Chris Holmes, President and Chief Executive Officer, and Mr. Michael Matee, Chief Financial Officer. Also joining the call for the question and answer session is Mr. Travis Edmondson, Chief Banking Officer. Please note, FB Financial's earnings release Supplemental financial information in this morning's presentation are available on the Investor Relations ...

H re # T == 111 PM Images We previously opened a trade in FB Financial Corporation (NYSE:FBK) in October 2023. Earlier this year we backed out the initial investment, plus 20% of the profit, and let the rest run as a house position. This allowed us to deploy capital to other opportunities while keeping lifetime exposure to a remaining small position. This advanced strategy allows for us to collect any and all future long-term gains, dividends, spinoffs, etc. And the dividend here should attract dividend gro ...

FB Financial Corporation (NYSE:FBK) Q2 2024 Earnings Conference Call July 16, 2024 9:00 AM ET Company Participants Christopher Holmes - President and Chief Executive Officer Michael Mettee - Chief Financial Officer Travis Edmondson - Chief Banking Officer Conference Call Participants Brett Rabatin - Hovde Group Christopher Marinac - Janney Montgomery Scott Steve Moss - Raymond James Catherine Mealor - KBW Alex Lau - JPMorgan Russell Gunther - Stephens Operator Good morning and welcome to the FB Financial Co ...

FB Financial (FBK) reported $128.22 million in revenue for the quarter ended June 2024, representing a yearover-year increase of 2.3%. EPS of $0.84 for the same period compares to $0.77 a year ago. The reported revenue compares to the Zacks Consensus Estimate of $123.52 million, representing a surprise of +3.81%. The company delivered an EPS surprise of +10.53%, with the consensus EPS estimate being $0.76. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- an ...

FB Financial (FBK) came out with quarterly earnings of $0.84 per share, beating the Zacks Consensus Estimate of $0.76 per share. This compares to earnings of $0.77 per share a year ago. These figures are adjusted for nonrecurring items. FB Financial, which belongs to the Zacks Banks - Northeast industry, posted revenues of $128.22 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 3.81%. This compares to year-ago revenues of $125.36 million. The company has topped consensus ...

Second Quarter 2024 Financial Supplement TABLE OF CONTENTS | Financial Summary and Key Metrics | 4 | | --- | --- | | Consolidated Statements of Income | 5 | | Consolidated Balance Sheets | 7 | | Average Balance and Interest Yield/Rate Analysis | 8 | | Investments and Other Sources of Liquidity | 11 | | Loan Portfolio | 12 | | Asset Quality | 13 | | Selected Deposit Data | 14 | | Preliminary Capital Ratios | 15 | | Segment Data | 16 | | Non-GAAP Reconciliations | 17 | The Company's management uses these non- ...