Headquartered in Nashville, TN Fiscal year ends December NYSE: FBK firstbankonline.com
FB Financial Corporation (NYSE: FBK) is a financial holding company that operates through its wholly owned banking subsidiary, FirstBank, serving customers in Tennessee, Kentucky, Alabama, Georgia, and North Carolina. The company operates 91 full-service bank branches with approximately $17.1 billion in total assets. Its business model centers on relationship-based commercial and retail banking, mortgage banking, investment services and trust operations. The loan portfolio is diversified across commercial and industrial lending (including owner-occupied CRE at 34%), non-owner occupied commercial real estate (23%), residential real estate (1-to-4 family mortgages at 16%, HELOCs at 6%, and multi-family at 6%), construction and development (9%), and consumer loans. The company operates through two segments: Banking and Mortgage Banking. FirstBank serves metropolitan markets including Nashville, Birmingham, Atlanta, Memphis, Huntsville, and Knoxville, alongside community banking markets, supplemented by specialty lending operations. The deposit base of $14.7 billion is diversified across consumer, commercial, and public segments with 37% in checking accounts. Updated
Loans held for investment grew at a 9.68% annualized clip to $13.18 billion, but funding costs squeezed net interest margin 12 basis points to 3.83% and revenue missed expectations. The earnings beat was razor thin, so the growth-versus-margin tradeoff is what matters on the call.
FB Financial reports before the open at 6:15 AM ET, with consensus at $1.21 EPS on $181.59 million in revenue from eight analysts. Beats in three of the last four quarters ended with an in-line June result, so this Southeast lender's take on commercial real estate credit is the real tell.
Q3 earnings season front-loads everything into two mornings: JPMorgan, Goldman, Wells Fargo, Citi, UnitedHealth and Johnson & Johnson all report before the open Tuesday, with Bank of America, Morgan Stanley, BlackRock and ASML following Wednesday. Of 51 companies on the week, 38 land before the bell, so the tone for rates, credit and chip demand gets set early.
FB Financial Corporation (NYSE: FBK) is a financial holding company that operates through its wholly owned banking subsidiary, FirstBank, serving customers in Tennessee, Kentucky, Alabama, Georgia, and North Carolina. The company operates 91 full-service bank branches with approximately $17.1 billion in total assets.
The Wall Street consensus 12-month price target for FBK is $63.38.