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Sep 30, 2022
FB Financial Q3 2022 Earnings Report
Reported a net income of $31.8 million and EPS of $0.68.
Key Takeaways
FB Financial Corporation reported a net income of $31.8 million, or $0.68 per diluted common share, for the third quarter of 2022. The company saw growth in loans held for investment and noninterest-bearing deposits. The net interest margin expanded to 3.93%.
Net income was $31.8 million, or $0.68 per diluted common share.
Adjusted net income was $32.1 million, or $0.68 per diluted common share.
Loans held for investment grew by $480.7 million, or 22.1% annualized.
Noninterest-bearing deposits grew by $71.0 million, or 9.73% annualized.
FB Financial
FB Financial
Forward Guidance
For the balance of the year and moving into 2023, the company's efforts will be concentrated on deposit growth and moderating loan growth while maintaining focus on serving customers and creating value for shareholders.
Positive Outlook
- Focus on deposit growth.
- Moderating loan growth.
- Maintaining focus on serving customers.
- Creating value for shareholders.
- Balance sheet positioned for expected economic headwinds in 2023.
Challenges Ahead
- Expected economic headwinds in 2023.
- Uncertainty in economic markets.
- Potential impact of government interest rate policies.
- Difficulties in integrating acquired businesses.
- Adverse effects of the ongoing global COVID-19 pandemic.