FB Financial Corp SEC 10-Q Report

FB Financial Corp, a prominent financial services company operating primarily in Tennessee and surrounding states, has released its Form 10-Q report for the first quarter of 2025. The report highlights significant improvements in both financial performance and operational metrics, underscoring the company's robust growth and strategic focus.

Financial Highlights

FB Financial Corp reported strong financial performance for the first quarter of 2025, showcasing notable increases across key metrics:

• Total Interest Income: $179.7 million, reflecting an increase due to higher interest income on investment securities and deposits with other financial institutions.
• Net Interest Income: $107.6 million, up from $99.5 million in the prior year, driven by a decrease in interest expense and an increase in interest income.
• Net Income Applicable to FB Financial Corporation: $39.4 million, an increase from $28.0 million in the previous year, indicating improved profitability.
• Diluted Net Income Per Share: $0.84, compared to $0.59 in the prior year, reflecting higher earnings per share.
• Net Interest Margin (tax-equivalent basis): 3.55%, up from 3.42% in the previous year, due to a decrease in the cost of interest-bearing liabilities.

Business Highlights

FB Financial Corp's operational performance for the first quarter of 2025 was marked by steady growth and strategic focus:

• Revenue Segments: The company operates through two main segments: Banking and Mortgage. The Banking segment generates revenue primarily from interest on loans and investments, loan-related fees, trust and investment services, and deposit-related fees. The Mortgage segment generates revenue from origination fees, gains on sales in the secondary mortgage loan market, and mortgage servicing revenues.
• Geographical Performance: The company operates primarily in Tennessee, Alabama, Kentucky, North Carolina, and North Georgia, with a footprint that includes 77 full-service branches. The company’s operations are concentrated in Tennessee, which subjects its loan portfolio to the economic conditions within the state.
• Sales Units: The company’s loan portfolio is diversified across various categories, including commercial and industrial loans, construction loans, residential real estate loans, and commercial real estate loans. The total loans held for investment (HFI) amounted to $9.77 billion as of March 31, 2025.
• Future Outlook: The company is focused on growing its loan portfolio by originating quality commercial and consumer loans that comply with its credit policies. It also plans to manage its deposit base by focusing on core customer deposits through relationship-driven banking and community-focused marketing programs.

SEC Filing: FB Financial Corp [ FBK ] - 10-Q - May. 05, 2025