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

Core Viewpoint - FB Financial (FBK) is identified as a strong momentum stock with a Zacks Rank of 2 (Buy) and a Momentum Score of A, indicating potential for significant near-term gains [1][8]. Momentum Style Analysis - The Momentum Style Score for FBK is currently A, driven by positive price changes and upward revisions in earnings estimates [3][6]. - Momentum investing focuses on following recent price trends, with the strategy of buying high and selling higher, capitalizing on established price movements [7]. Trading Volume Insights - FBK's average 20-day trading volume is 211,659 shares, which serves as a baseline for price-to-volume analysis; a rising stock with above-average volume is generally seen as bullish [5]. Performance Metrics - Over the past week, FBK shares have increased by 9.11%, outperforming the Zacks Banks - Northeast industry, which rose by 6.39% during the same period [9]. - In the last month, FBK's price change of 24.66% significantly exceeds the industry's performance of 16.04% [9]. - FBK shares have risen by 19.79% over the past quarter and 39.52% over the last year, compared to the S&P 500's increases of 11.27% and 22.23%, respectively [11]. Earnings Outlook - In the last two months, five earnings estimates for FBK have been revised upward, raising the consensus estimate from $3.11 to $3.20 [10]. - For the next fiscal year, four estimates have increased while one has decreased, indicating a generally positive outlook [10].

Art Wager/E+ via Getty Images “I owe you an apology. I wasn’t really familiar with your game.” Shaquille O’Neal 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 ...

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 growth investor ...

Core Insights - FB Financial (FBK) reported a revenue of $128.22 million for the quarter ended June 2024, marking a year-over-year increase of 2.3% and exceeding the Zacks Consensus Estimate of $123.52 million by 3.81% [1] - The company achieved an EPS of $0.84, up from $0.77 a year ago, and surpassed the consensus EPS estimate of $0.76 by 10.53% [1] Financial Performance Metrics - Net Interest Margin was reported at 3.6%, exceeding the average estimate of 3.4% from four analysts [3] - Efficiency Ratio stood at 58.6%, better than the average estimate of 60.5% from four analysts [3] - Net Charge-offs during the period to Average Loans outstanding was 0%, compared to the average estimate of 0.1% from three analysts [3] - Average Earning Assets were $11.63 billion, slightly below the average estimate of $11.87 billion from three analysts [3] - Total nonperforming loans HFI were $73.22 million, higher than the average estimate of $69.11 million from two analysts [3] - Total nonperforming assets reached $101.47 million, exceeding the average estimate of $82.05 million from two analysts [3] - Mortgage banking income was $11.91 million, slightly below the average estimate of $11.96 million from four analysts [3] - Total Noninterest income was $25.61 million, surpassing the average estimate of $22.79 million from four analysts [3] - Investment services and trust income was $3.39 million, exceeding the average estimate of $3.05 million from three analysts [3] - Other Income was reported at $4.61 million, significantly higher than the average estimate of $1.86 million from three analysts [3] - Service charges on deposit accounts were $3.17 million, slightly above the average estimate of $3.13 million from three analysts [3] - ATM and interchange fees totaled $2.81 million, exceeding the average estimate of $2.77 million from three analysts [3] Stock Performance - Shares of FB Financial have returned +16.3% over the past month, outperforming the Zacks S&P 500 composite's +3.8% change [3] - The stock currently holds a Zacks Rank 2 (Buy), indicating potential for outperformance in the near term [3]

Core Viewpoint - FB Financial (FBK) reported quarterly earnings of $0.84 per share, exceeding the Zacks Consensus Estimate of $0.76 per share, and showing an increase from $0.77 per share a year ago [1][2] Financial Performance - The company posted revenues of $128.22 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 3.81%, compared to $125.36 million in the same quarter last year [2] - FB Financial has surpassed consensus EPS estimates three times over the last four quarters [7] - The current consensus EPS estimate for the upcoming quarter is $0.78 on revenues of $126.16 million, and for the current fiscal year, it is $3.13 on revenues of $482.62 million [10] Stock Performance - FB Financial shares have increased approximately 4.4% since the beginning of the year, while the S&P 500 has gained 17.7% [8] - The stock currently holds a Zacks Rank 2 (Buy), indicating expectations of outperforming the market in the near future [14] Industry Context - FB Financial operates within the Zacks Banks - Northeast industry, which is currently ranked in the bottom 34% of over 250 Zacks industries [5] - The performance of stocks in this industry can be significantly influenced by the overall industry outlook [5]

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- ...

The price trend for FB Financial (FBK) has been bearish lately and the stock has lost 5.1% over the past two weeks. However, the formation of a hammer chart pattern in its last trading session indicates that the stock could witness a trend reversal soon, as bulls might have gained significant control over the price to help it find support.While the formation of a hammer pattern is a technical indication of nearing a bottom with potential exhaustion of selling pressure, rising optimism among Wall Street anal ...

Core Viewpoint - FB Financial Corporation (FBK) is considered a strong investment option due to its fundamental strength and growth prospects, currently holding a Zacks Rank 1 (Strong Buy) with a 7.4% upward revision in 2024 earnings estimates over the past 30 days [1]. Earnings Growth - FBK has experienced a compound annual growth rate (CAGR) of 2.5% in earnings over the last three to five years, with projected earnings growth of 1.3% in 2024 and 2.9% in 2025 [3]. - The company has a strong earnings surprise history, surpassing the Zacks Consensus Estimate in three of the last four quarters, with an average beat of 11.6% [4]. Revenue Strength - FBK's revenues have shown a CAGR of 7.2% from 2019 to 2023, driven by growth in net interest income. However, revenues are expected to decline by 1.6% in 2024 due to lower non-interest income, with a projected recovery and 7.8% growth in 2025 [5]. Financial Stability - FBK has a debt/equity ratio of 0.00, indicating no reliance on debt for financing operations, which contributes to its financial stability in adverse economic conditions [6]. - The company boasts a return on equity (ROE) of 10.20%, surpassing the industry average of 8.75%, reflecting superior efficiency in utilizing shareholder funds [6]. Price Performance - FBK's stock has gained 12% over the past six months, significantly outperforming the industry growth of 2.8% during the same period [2].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION 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, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Washington, D.C. 20549 ______________________________________________________________ For the transition period from ________ to ________ Commission ...