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Mar 31, 2022
FB Financial Q1 2022 Earnings Report
Reported Q1 diluted EPS of $0.74 and annualized Loan Growth (HFI) of 21.3%.
Key Takeaways
FB Financial Corporation reported a net income of $35.2 million, or $0.74 per diluted common share, for the first quarter of 2022. The company experienced growth in loans held for investment (HFI) of $400.3 million, representing an annualized growth rate of 21.3%.
Core bank produced impressive loan growth.
Consistent non-interest bearing deposit growth was achieved.
Credit metrics were clean.
Adjusted EPS and adjusted tangible book value growth showed continued momentum.
FB Financial
FB Financial
FB Financial Revenue by Segment
Revenue by Segment
Mortgage Banking Revenue
CapyFin.com Forward Guidance
The company's banking segment is well-positioned for a rising rate environment, while the mortgage business will continue to face headwinds.
Positive Outlook
- Strong loan and deposit growth in the first quarter.
- Continued momentum in the core banking business.
- Asset sensitive balance sheet is well situated for a rising rate environment.
- Banking segment is positioned for significant benefits as rates increase.
- Markets continue to deliver new opportunities, specifically in construction and commercial real estate.
Challenges Ahead
- Mortgage business will continue to face headwinds.
- Increasing interest rate environment.
- Housing inventory shortage.
- Compressed margins in the mortgage segment.
- Inflation and monetary policy actions bring caution regarding our consumer portfolios.