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Mar 31, 2024
FB Financial Q1 2024 Earnings Report
FB Financial reported mixed results for Q1 2024, with a securities transaction impacting net income but balance sheet strength and earnings momentum continuing.
Key Takeaways
FB Financial Corporation reported a net income of $28.0 million, or $0.59 per diluted common share, for Q1 2024. Adjusted net income was $39.9 million, or $0.85 per diluted common share. The company's loans held for investment were $9.29 billion, and deposits amounted to $10.50 billion. The net interest margin was 3.42%.
Net income for Q1 2024 was $28.0 million, or $0.59 per diluted common share.
Adjusted net income was $39.9 million, or $0.85 per diluted common share.
Loans held for investment totaled $9.29 billion.
Deposits reached $10.50 billion.
FB Financial
FB Financial
FB Financial Revenue by Segment
Revenue by Segment
Mortgage Banking Revenue
CapyFin.com Forward Guidance
FB Financial's first quarter results reflect efforts to improve the company's foundation, with a focus on building scale, increasing returns, and enhancing long-term shareholder value.
Positive Outlook
- Balance sheet strength
- Earnings momentum
- Excellent capital position
- Strong liquidity
- Proactive expense management
Challenges Ahead
- Impact of securities transaction
- Decrease in construction lending exposure
- Cautious outlook on the economy
- Awareness of certain asset classes
- Turmoil in the banking industry