FirstBank strengthens its board of directors with the addition of respected healthcare veteran NASHVILLE, Tenn., Feb. 5, 2024 /PRNewswire/ -- FirstBank today announced that Milton Johnson, former Chairman and CEO of HCA Healthcare, has been appointed to the board of directors of the bank and FB Financial Corporation, its holding company. A prominent figure across the healthcare industry, Johnson had a 37-year tenure at HCA and served in various financial and senior management positions before retiring as Ch ...

NASHVILLE, Tenn.--(BUSINESS WIRE)--FB Financial Corporation (NYSE: FBK) announced today that its board of directors declared a quarterly cash dividend of $0.17 per share. The dividend is payable on February 27, 2024, to shareholders of record as of February 13, 2024. Christopher T. Holmes, President and Chief Executive Officer, commented, “We are pleased with the board of directors’ decision to pay our 24th consecutive quarterly dividend and are happy to be able to increase the dividend by 13% compared to ...

financial measures financial measures financial measures financial measures financial measures Valuable deposit base financial measures GAAP reconciliations and use of non-GAAP 23 26 Adjusted return on average asset, common equity and related measures ACL on loans HFI / loans HFI Net charge-offs (recoveries) / average loans HFI Securities portfolio makes up 11.7% of total assets and does not include any HTM securities 13 | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |------------------------ ...

Financial Performance - Net income applicable to FB Financial Corporation for the three months ended September 30, 2023, was $19,175 thousand, down 39.7% from $31,831 thousand in the same period last year[13]. - Earnings per share (EPS) for the three months ended September 30, 2023, was $0.41, a decrease from $0.68 in the same period of 2022[13]. - Comprehensive loss income applicable to FB Financial Corporation for the three months ended September 30, 2023, was $(9,816) thousand, compared to $(35,114) thousand in the same period of 2022[14]. - Net income attributable to FB Financial Corporation for Q3 2023 was $19,175,000, a decrease from $31,831,000 in Q3 2022, representing a decline of approximately 40%[16]. - Net income applicable to FB Financial Corporation for the nine months ended September 30, 2023, was $90,863,000, an increase of 5.6% from $86,420,000 in 2022[20]. Asset and Deposit Changes - Total assets decreased to $12,489,631 thousand as of September 30, 2023, down from $12,847,756 thousand at the end of 2022, representing a decline of approximately 2.8%[12]. - Total deposits decreased to $10,639,068 thousand as of September 30, 2023, down from $10,855,834 thousand at the end of 2022, reflecting a decline of approximately 2.0%[12]. - Cash and cash equivalents at the end of the period were $848,318,000, an increase from $618,290,000 at the end of the same period in 2022[20]. - The total carrying amount of deposits without stated maturities was $9,032,433,000 as of September 30, 2023[128]. Income and Expense Analysis - Net interest income for the three months ended September 30, 2023, was $100,926 thousand, a decrease of 9.8% compared to $111,384 thousand for the same period in 2022[13]. - Noninterest income for the three months ended September 30, 2023, was $8,042 thousand, a significant decrease of 64.4% compared to $22,592 thousand in the same period last year[13]. - Total interest paid increased to $185,513,000 in 2023 compared to $31,322,000 in 2022, indicating a substantial rise in interest expenses[21]. - The total lease cost for the three months ended September 30, 2023, was $2,255, a slight decrease from $2,279 in the same period of 2022, reflecting a decline of about 1.1%[94]. Credit Losses and Provisions - Provision for credit losses on loans held for investment was $6,031 thousand for the three months ended September 30, 2023, compared to $8,189 thousand in the same period of 2022, indicating a decrease of 26.4%[13]. - The allowance for credit losses on loans held for investment increased to $146,134 thousand as of September 30, 2023, compared to $134,192 thousand at the end of 2022, representing an increase of 8.5%[12]. - The provision for credit losses on loans HFI for the nine months ended September 30, 2023, totaled $13,603,000, compared to a reversal of $4,784,000 for the same period in 2022[62]. - The company reported recoveries of loans previously charged-off amounting to $235,000 for the three months ended September 30, 2023, compared to $476,000 for the same period in 2022[62]. Shareholder Equity and Dividends - Total shareholders' equity as of September 30, 2023, was $1,372,994,000, compared to $1,281,254,000 as of September 30, 2022, indicating an increase of about 7.1%[16]. - The company declared dividends of $0.15 per share in Q3 2023, up from $0.13 per share in Q3 2022, reflecting a 15.4% increase in dividend payout[16]. - Retained earnings increased to $656,120,000 as of September 30, 2023, from $554,536,000 as of September 30, 2022, marking a growth of approximately 18.4%[16]. Loan Portfolio and Performance - As of September 30, 2023, total gross loans outstanding were $9,287,225, a slight decrease from $9,298,212 as of December 31, 2022[49]. - The company originated loans held for sale totaling $970,131,000 in 2023, a decrease of 54.4% from $2,129,129,000 in 2022[20]. - The total amount of residential real estate loans was $1,553,096,000, with performing loans at $144,807,000 and nonperforming loans at $4,585,000[74]. - The total performing loans for residential real estate increased from $568,210,000 in 2022 to $144,807,000 in 2023, indicating a shift in the loan portfolio[75]. Regulatory and Compliance - The company met all capital adequacy requirements as of September 30, 2023, with a total capital ratio of 14.1% for FB Financial Corporation[157]. - The Tier 1 capital ratio for FB Financial Corporation was 12.1% as of September 30, 2023, exceeding the minimum requirement of 8.5%[157]. - The company implemented its transition plan away from LIBOR following the benchmark's discontinuation effective June 30, 2023, with no material impact on financial statements[31]. Derivatives and Hedging - The notional amount of interest rate contracts as of September 30, 2023, was $579,054 thousand, with assets valued at $48,635 thousand and liabilities at $48,568 thousand[113]. - The Company recognized total losses of $(6,128) thousand and $(9,290) thousand in mortgage banking income for the three months ended September 30, 2023, compared to $(6,922) thousand and $13,942 thousand for the same periods in 2022[113]. - The cumulative decrease in fair value hedging adjustment included in the carrying amount of the hedged item for borrowings was $(1,661) thousand as of September 30, 2023[119]. Employee Compensation and Stock Options - The company granted 166,591 restricted stock units (RSUs) with a weighted average grant date fair value of $35.90 during the nine months ended September 30, 2023[159]. - The total fair value of RSUs vested was $7,601,000 for the nine months ended September 30, 2023, compared to $7,320,000 for the same period in 2022[159]. - Performance-based restricted stock units (PSUs) granted totaled 86,010 with a weighted average grant date fair value of $37.17 during the nine months ended September 30, 2023[163].

FB Financial Corporation (NYSE:FBK) Q3 2023 Results Conference Call October 17, 2023 9:00 AM ET Company Participants Chris Holmes - President and CEO Michael Mettee - CFO Travis Edmondson - Chief Banking Officer Conference Call Participants Stephen Scouten - Piper Sandler Catherine Mealor - KBW Brett Rabatin - Hovde Group Alex Lau - JP Morgan Kevin Fitzsimmons - D.A. Davidson Matt Olney - Stephens Steve Moss - Raymond James Feddie Strickland - Janney Montgomery Scott Operator Good morning and welcome to the ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________________________________________ FORM 10-Q ______________________________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission F ...

FB Financial Corporation (NYSE:FBK) Q2 2023 Earnings Conference Call July 17, 2023 9:00 AM ET Company Participants Chris Holmes - President and CEO Michael Mettee - CFO Greg Bowers - Chief Credit Officer Conference Call Participants Stephen Scouten - Piper Sandler Catherine Mealor - KBW Kevin Fitzsimmons - D.A. Davidson Matt Olney - Stephens Inc. Brett Rabatin - Hovde Group Alex Lau - JPMorgan Feddie Strickland - Janney Montgomery Scott Operator Good morning and welcome to the FB Financial Corporation's ...

Washington, D.C. 20549 ______________________________________________________________ FORM 10-Q ______________________________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission File Number 001-37875 ___________________________ ...

FB Financial Corporation (NYSE:FBK) Q1 2023 Earnings Conference Call April 18, 2023 9:00 AM ET Company Participants Chris Holmes - President and CEO Michael Mettee - CFO Greg Bowers - CCO Conference Call Participants Catherine Mealor - KBW Stephen Scouten - Piper Sandler Brett Rabatin - Hovde Group Matt Olney - Stephens Inc. Feddie Strickland - Janney Montgomery Scott Kevin Fitzsimmons - D.A. Davidson Operator Good morning and welcome to FB Financial Corporation’s First Quarter 2023 Earnings Conference Call ...

Financial Position - As of December 31, 2022, FB Financial Corporation had total assets of $12.85 billion, loans held for investment of $9.30 billion, total deposits of $10.86 billion, and total common shareholders' equity of $1.33 billion[18]. - The company completed its largest merger to date with Franklin Financial Network, Inc., acquiring total assets of $3.63 billion, loans of $2.79 billion, and total deposits of $3.12 billion in a transaction valued at $477.8 million[28]. - As of June 30, 2022, FB Financial Corporation ranked 6th among the top banks in Tennessee with a total deposit market share of 4.3%[38]. - The company has achieved top 10 deposit market shares in Knoxville and Chattanooga through strategic acquisitions and strong organic growth[41]. - The Nashville metropolitan area accounted for 48% of total deposits as of June 30, 2022, with the company holding a 5.4% market share in Nashville[22]. - The Nashville MSA has become the largest market for the company with approximately 5.4% market share based on pro forma deposits as of June 30, 2022[40]. Business Strategy - The company aims to strategically deploy capital across high-growth metropolitan and stable community markets to maximize profitable growth opportunities[20]. - The company has expanded its footprint through various acquisitions, including the acquisition of FNB Financial Corp. which added four branches in Kentucky[27]. - The company targets small to medium-sized businesses and corporate clients, focusing on building deeper relationships through tailored banking solutions[36]. - The company has a competitive advantage in metropolitan markets by offering a sophisticated product suite while maintaining a community banking service model[33]. - The company emphasizes a community banking approach with local decision-making authority to enhance client relationships and service delivery[19]. Risk Management - The company maintains a robust risk management framework that includes a Chief Risk Officer and a comprehensive risk culture to address various risks[45][54]. - The company actively manages credit risk through consistent analysis, monitoring, and a robust loan review program[58][61]. - The loan approval process is characterized by local authority and a centralized review process, ensuring compliance with credit policies[48]. - The company maintains an allowance for credit losses, which is sensitive to changes in macroeconomic forecasts and may require increases based on economic conditions[167]. - A significant portion of the loan portfolio is at risk due to potential declines in real estate values, which could adversely affect financial condition and results of operations[171]. - The company is exposed to lending concentration risks, particularly in commercial real estate, which may lead to increased credit risk and potential losses[173]. - Economic conditions in Tennessee, where approximately 73% of loans are concentrated, could significantly impact loan originations and overall profitability[181]. Regulatory Compliance - The company is subject to regulatory capital rules that limit its ability to pay dividends, repurchase stock, and make other capital distributions[108]. - The Federal Reserve requires prior approval for the company to acquire substantial assets or control of other banks, ensuring compliance with regulatory standards[104]. - The Bank is classified as "well capitalized" with a total risk-based capital ratio of 10% or greater, a Tier 1 risk-based capital ratio of 8% or greater, and a CET1 capital ratio of 6.5% or greater as of December 31, 2022[129]. - The company must maintain a capital conservation buffer to avoid restrictions on capital distributions or discretionary bonus payments to executives[112]. - The U.S. Basel III Capital Rules require deductions from CET1 Capital for goodwill and certain intangible assets, increasing capital requirements for specific asset classes[113]. - The company is subject to the CFPB's supervisory and enforcement authorities due to having total assets exceeding $10 billion, which may lead to additional compliance costs[159]. Technology and Innovation - Significant investments in technology and infrastructure have created a scalable platform to support future growth across all markets[43]. - The company completed the initial implementation of a commercial loan origination system and began implementing an asset-liability monitoring and funds management system in 2022[84]. - The company initiated a data management program aimed at enhancing data utilization, focusing on financial, regulatory, credit, and customer data[86]. - The company was a founding member of the USDF Consortium, developing a prototype of a blockchain-based payment application in early 2022[87]. - The company plans to implement a budgeted and forecasting system in 2023, supporting the FirstBank Way initiatives[88]. Employee and Workplace Culture - The company employed 1,757 full-time equivalent associates with an average tenure of six years as of December 31, 2022[74]. - The company achieved a 21.6% internal mobility rate, filling 141 positions through promotions in 2022[81]. - The company maintains a retention rate of over 93% for first-year hires[81]. - The company has a commitment to diversity, with 15% of external hires in 2022 representing ethnic minority groups[78]. - The company provides an average of over 70% coverage of total premium costs for employee medical plans[83]. - The company has been recognized as one of Middle Tennessee's Top Workplaces for eight consecutive years[75]. Market and Economic Conditions - Changes in interest rates could adversely affect net interest income, which is crucial for the company's earnings and financial condition[185]. - The transition away from LIBOR as a reference rate may negatively impact income and expenses, requiring adjustments to risk and pricing models[187]. - The performance of the investment securities portfolio is subject to fluctuations due to changes in interest rates and market conditions, which could materially affect net interest income[189]. - The profitability of the mortgage banking business is sensitive to interest rates and economic conditions, with rising rates expected to reduce mortgage production[193]. - The company relies on government-sponsored entities for revenue generation through mortgage loan sales, which could be adversely affected by legislative changes[198]. Cybersecurity and Vendor Management - The company relies on multiple vendors for operations, including sensitive data storage and processing[215]. - Cyber security breaches of vendor systems could lead to data theft or business disruption, potentially resulting in customer liability[215]. - The company has procedures to assess vendor cyber security controls but acknowledges these are not infallible[215]. - The Bank must report cybersecurity incidents within 36 hours to federal regulators and inform customers of incidents lasting more than four hours, in compliance with regulations effective from April 1, 2022[153].