FB Financial Q4 2023 Earnings Report
Key Takeaways
FB Financial Corporation reported a net income of $29.4 million, or $0.63 per diluted common share, for the fourth quarter of 2023. The company's loans held for investment grew to $9.41 billion, and deposits totaled $10.55 billion. The net interest margin increased to 3.46%.
Net income was $29.4 million, or $0.63 per diluted share, compared to $0.81 in Q4 2022.
Adjusted net income was $36.2 million, or $0.77 per diluted share, compared to $0.85 in Q4 2022.
Loans held for investment grew to $9.41 billion.
Net interest margin increased to 3.46%.
FB Financial
FB Financial
Forward Guidance
The Company had net recoveries for the quarter, demonstrating our resolve to work with customers for positive outcomes. We also modestly increased our allowance for credit losses, remaining cautious on our economic outlook. However, our local economies have continued performing well, migration into our markets continues at a healthy pace, and we are cautiously optimistic as we look forward into the coming year.