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Mar 31, 2023

FB Financial Q1 2023 Earnings Report

Reported a net income of $36.4 million and diluted EPS of $0.78.

Key Takeaways

FB Financial Corporation reported a net income of $36.4 million, or $0.78 per diluted common share, for the first quarter of 2023. The company experienced growth in deposits, loans, and adjusted tangible book value per common share.

Net income was $36.4 million, or $0.78 per diluted common share.

Adjusted net income was $35.7 million, or $0.76 per diluted common share.

Deposits grew to $11.18 billion (12.2% annualized).

Loans held for investment grew to $9.37 billion (2.96% annualized).

Total Revenue
$127M
Previous year: $131M
-2.9%
EPS
$0.76
Previous year: $0.74
+2.7%
Net Interest Margin
3.51%
Previous year: 3.04%
+15.5%
Efficiency Ratio
63.4%
Previous year: 68.9%
-8.0%
Core Efficiency Ratio
63.4%
Cash and Equivalents
$1.32B
Previous year: $1.74B
-24.3%
Free Cash Flow
$88.9M
Previous year: $288M
-69.1%
Total Assets
$13.1B
Previous year: $12.7B
+3.4%

FB Financial

FB Financial

Forward Guidance

FB Financial Corporation is focused on delivering for its customers, associates, communities and shareholders during all market cycles and is prepared for a range of economic outcomes as it moves through the remainder of the year.