Compared to Estimates, FB Financial (FBK) Q2 Earnings: A Look at Key Metrics

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]