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]

Core Viewpoint - FB Financial (FBK) is expected to report quarterly earnings of $0.84 per share, reflecting a 9.1% increase year-over-year, with revenues forecasted at $130.52 million, a 12.1% increase compared to the previous year [1] Earnings Estimates and Revisions - Changes in earnings estimates are crucial for predicting investor reactions to stock performance, with empirical studies showing a strong correlation between earnings estimate revisions and short-term stock price performance [2] Analyst Forecasts - Analysts' forecasts for FB Financial metrics provide valuable insights into the company's performance, with a focus on key metrics routinely monitored by Wall Street [3] Efficiency and Margin Metrics - The 'Efficiency Ratio' is projected to be 59.0%, down from 68.9% in the same quarter last year [4] - The 'Net Interest Margin' is expected to be 3.6%, slightly up from 3.5% in the same quarter last year [4] Asset and Income Estimates - 'Average Earning Assets' are estimated at $12.11 billion, an increase from $11.70 billion in the same quarter last year [5] - 'Mortgage banking income' is projected to reach $10.85 million, compared to $8.38 million a year ago [5] Noninterest and Interest Income - 'Total Noninterest income' is forecasted to be $22.83 million, up from $15.34 million in the same quarter last year [6] - 'Net interest income (tax-equivalent basis)' is expected to reach $108.13 million, compared to $101.92 million a year ago [6] - The consensus for 'Net Interest Income' is $107.54 million, up from $101.09 million in the previous year [6] Investment Services Income - 'Investment services and trust income' is predicted to be $3.44 million, compared to $3.09 million in the same quarter last year [7] Stock Performance - Over the past month, FB Financial shares have declined by 6.2%, while the Zacks S&P 500 composite has decreased by 3.3% [7]

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to capitalize on established directions for profitable trades [1] Group 1: FB Financial Overview - FB Financial (FBK) currently holds a Momentum Style Score of B and a Zacks Rank of 1 (Strong Buy) [2] - Stocks rated Zacks Rank 1 and 2 with Style Scores of A or B have historically outperformed the market over the following month [2] Group 2: Price Performance - FBK shares have increased by 3.47% over the past week, outperforming the Zacks Banks - Northeast industry, which rose by 1.9% [3] - Over the past month, FBK's price change is 4.89%, compared to the industry's 1.86% [3] - In the last quarter, FBK shares rose by 8.38%, and over the past year, they have increased by 63.31%, while the S&P 500 moved 7.36% and 38.52%, respectively [3] Group 3: Trading Volume - FBK's average 20-day trading volume is 131,502 shares, which serves as a price-to-volume baseline for assessing stock performance [4] Group 4: Earnings Outlook - In the past two months, three earnings estimates for FBK have been revised upwards, increasing the consensus estimate from $3.25 to $3.34 [5] - For the next fiscal year, three estimates have also moved upwards with no downward revisions [5] - These positive trends contribute to FBK's status as a 1 (Strong Buy) stock with a Momentum Score of B [5]

FB Financial (FBK) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is 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.Individual investors oft ...

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For the quarter ended September 2024, FB Financial (FBK) reported revenue of $89.52 million, down 17.9% over the same period last year. EPS came in at $0.86, compared to $0.71 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $127.44 million, representing a surprise of -29.75%. The company delivered an EPS surprise of +4.88%, with the consensus EPS estimate being $0.82.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- a ...

Core Viewpoint - FB Financial (FBK) reported quarterly earnings of $0.86 per share, exceeding the Zacks Consensus Estimate of $0.82 per share, and showing an increase from $0.71 per share a year ago, representing an earnings surprise of 4.88% [1] Financial Performance - The company posted revenues of $89.52 million for the quarter ended September 2024, which missed the Zacks Consensus Estimate by 29.75% and decreased from $108.97 million year-over-year [2] - Over the last four quarters, FB Financial has surpassed consensus EPS estimates four times but has only topped consensus revenue estimates once [2] Stock Performance - FB Financial shares have increased by approximately 19.8% since the beginning of the year, compared to the S&P 500's gain of 22.9% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating it is expected to perform in line with the market in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.77 on revenues of $126.41 million, and for the current fiscal year, it is $3.25 on revenues of $489.39 million [7] - The trend of estimate revisions for FB Financial is mixed, which could change following the recent earnings report [6] Industry Context - The Banks - Northeast industry, to which FB Financial belongs, is currently in the top 41% of over 250 Zacks industries, suggesting a favorable outlook compared to the bottom 50% [8] - Another company in the same industry, Midland States Bancorp (MSBI), is expected to report quarterly earnings of $0.63 per share, reflecting a year-over-year decline of 19.2% [9]

Core Insights - FB Financial (FBK) is expected to report quarterly earnings of $0.82 per share, reflecting a 15.5% increase year-over-year, with revenues projected at $127.44 million, a 17% increase from the previous year [1]. Earnings Estimates - Over the last 30 days, the consensus EPS estimate has been revised downward by 0.2%, indicating a collective reassessment by analysts [2]. - Changes in earnings estimates are crucial for predicting investor reactions, as empirical studies show a strong correlation between earnings estimate revisions and short-term stock performance [3]. Key Financial Metrics - Analysts project the 'Efficiency Ratio' to be 59.7%, down from 76.2% a year ago [5]. - The 'Net Interest Margin' is expected to be 3.5%, slightly up from 3.4% in the previous year [5]. - 'Average Earning Assets' are estimated at $11.67 billion, compared to $11.81 billion reported in the same quarter last year [5]. Income Projections - 'Mortgage banking income' is forecasted at $12.46 million, up from $12 million in the same quarter last year [6]. - The consensus for 'Total Noninterest income' stands at $24.14 million, significantly higher than $8.04 million a year ago [6]. - 'Net interest income (tax-equivalent basis)' is expected to reach $104.64 million, compared to $101.76 million reported last year [7]. - 'Net Interest Income' is projected at $103.01 million, up from $100.93 million a year ago [7]. - 'Investment services and trust income' is forecasted at $3.32 million, compared to $3.07 million in the same quarter last year [8]. Stock Performance - Over the past month, FB Financial shares have returned +2.7%, while the Zacks S&P 500 composite has changed by +5.9% [8]. - FBK holds a Zacks Rank of 3 (Hold), suggesting its performance will likely align with the overall market in the upcoming period [8].

Core Viewpoint - FB Financial (FBK) is expected to report a year-over-year increase in earnings driven by higher revenues, with the actual results being crucial for near-term stock price movements [1][2]. Earnings Expectations - The earnings report is anticipated on October 15, 2024, with a consensus EPS estimate of $0.81, reflecting a +14.1% change year-over-year. Revenues are projected at $127.44 million, up 17% from the previous year [3][2]. Estimate Revisions - The consensus EPS estimate has remained unchanged over the last 30 days, indicating stability in analyst expectations [4]. Earnings Surprise Prediction - The Zacks Earnings ESP model shows that the Most Accurate Estimate for FB Financial is higher than the consensus estimate, resulting in an Earnings ESP of +0.31%, suggesting a bullish outlook from analysts [10]. Historical Performance - FB Financial has a history of beating consensus EPS estimates, having exceeded expectations in three out of the last four quarters, including a +10.53% surprise in the last reported quarter [12][13]. Investment Considerations - While a positive earnings surprise is likely, other factors may influence stock performance, making it essential for investors to consider the broader context beyond just earnings results [14][16].