Fb Financial Corporation · NYSE:FBK
Fb Financial — Q2 2017 Earnings Presentation
19 slides from Fb Financial's earnings presentation, Jul 24, 2017
Slide 1: Second Quarter 2017 Earnings Presentation
Second Quarter 2017 Earnings Presentation July 24, 2017
Slide 2: Forward looking statements
This presentation contains “forward-looking statements” made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking statements. You can identify these forward-looking statements throu
Slide 3: Use of non-GAAP financial measures
Use of non-GAAP financial measures This presentation contains certain financial measures that are not measures recognized under U.S. generally accepted accounting principles (GAAP) and therefore are considered non-GAAP financial measures. These non‐GAAP financial measures include, without limitation
Slide 4: Non-GAAP Core results and 2Q 2017 Highlights
Non-GAAP Core results1 Three months endedJune 30, 2017 Diluted earnings per share $0.49 Net income $12.9 million Return on average assets 1.61% Return on average equity 13.0% Return on average tangible common equity 14.9% Efficiency ratio 70.2% 2Q 2017 Highlights Loans (HFI) grew to $1.97 billion, a
Slide 5: Consistently delivering balanced profitability and growth
Consistently delivering balanced profitability and growth Drivers of profitability improvement Pro forma return on average assets1 ($mm) NIM (%) Noninterest income ($mm) NPA / assets (%) Loans / deposits (%) 1 Our pro forma net income includes a pro forma provision for federal income taxes using a c
Slide 6: Net interest margin remains strong
Net interest margin remains strong Historical yield and costs 1 Includes tax-equivalent adjustment NIM (%) 4.40% 4.05% 3.99% 4.28% 4.19% NIM, ex-accretion (%) 4.16% 3.94% 3.94% 4.12% 4.08% Deposit cost (%) 0.28% 0.30% 0.29% 0.32% 0.34% Loan (HFI) yield 2Q 2016 1Q 2017 2Q 2017 Contractual interest ra
Slide 7: Consistent loan growth and balanced portfolio
Consistent loan growth and balanced portfolio Total loan growth1 ($mm) and commercial real estate concentration Loan portfolio breakdown1 4Q 2012 2Q 2017 Total HFI loans: $1,971mm 1 Exclude HFS loans, C&I includes owner-occupied CRE2 Risk-based capital at bank level as reported in Call Report. 2Q 20
Slide 8: Stable, low cost core deposit franchise
Stable, low cost core deposit franchise Total deposits ($mm) 1 Includes mortgage servicing-related escrow deposits of $44.1 million, $64.3 million, $46.7 million, $43.7 million and $49.9 million for the quarters ended June 30, 2016, September 30, 2016, December 31, 2016, March 31, 2017 and June 30,
Slide 9: Mortgage Banking continues to execute
$22.9 $27.6 $23.9 $4.6 ($4.7) $5.4 $2.7 $2.7 $2.7 $ -- ($0.5) ($1.8) $30.1 $25.1 $30.2 Mortgage Banking continues to execute Rebalanced mix through better channel distribution as Correspondent growth offsets refinancing decline in Consumer DirectMortgage Banking income $30.2 million, up 20.6% from 1
Slide 10: Improving operating leverage remains a key objective
Improving operating leverage remains a key objective Consolidated 2Q 2017 core efficiency ratio of 70.2% driven by Banking Segment core efficiency ratio of 60.4%, approaching our target level of sub-60% Integration of pending acquisition of Clayton Banks will enhance efficiency; expect to realize 20
Slide 11: Asset quality remains strong
Asset quality remains strong Classified loans ($mm) Net charge-offs / average loans NPAs / assets LLR / loans (20) bps ($6) million
Slide 12: Strong capital position for future growth
Strong capital position for future growth 1 Total regulatory capital. 2Q 2017 calculation is preliminary and subject to change.2 See “Use of non-GAAP financial measures” and the Appendix hereto. Capital position Total capital composition 2Q 2016 1Q 2017 2Q 20171 Shareholder’s equity / Assets 9.1% 10
Slide 13: Appendix
Appendix (FB) FirstBank
Slide 14: GAAP reconciliation and use: Pro forma core net income
GAAP reconciliation and use of non-GAAP financial measures Pro forma core net income
Slide 15: GAAP reconciliation and use: Tax-equivalent efficiency ratio
GAAP reconciliation and use of non-GAAP financial measures Tax-equivalent efficiency ratio (1) Efficiency ratio (GAAP) is calculated by dividing non-interest expense by total revenue
Slide 16: GAAP reconciliation and use: Segment tax-equivalent efficiency ratio
GAAP reconciliation and use of non-GAAP financial measures Segment tax-equivalent efficiency ratio
Slide 17: GAAP reconciliation and use: Tangible assets and equity
GAAP reconciliation and use of non-GAAP financial measures Tangible assets and equity Return on average tangible equity
Slide 18: GAAP reconciliation and use: Pro forma return on average tangible common equity
GAAP reconciliation and use of non-GAAP financial measures Pro forma return on average tangible common equity Pro forma core return on average tangible equity Pro forma core return on average assets and equity
Slide 19: GAAP reconciliation and use: Pro forma core total revenue
GAAP reconciliation and use of non-GAAP financial measures Pro forma core total revenue