Fb Financial Corporation · NYSE:FBK
Fb Financial — Q1 2025 Earnings Presentation
34 slides from Fb Financial's earnings presentation, Apr 15, 2025
Slide 1: 2025 First Quarter Earnings Presentation
2025 First Quarter Earnings Presentation April 15, 2025
Slide 2: Forward-looking statements
Forward–looking statements Certain statements contained in this Presentation that are not historical in nature may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, statem
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 may include, without limi
Slide 4: 1Q 2025 Results
1Q 2025 Results • 1Q25 net income of $39.4 million and $40.1 million on Key highlights an adjusted basis1 Earnings • ROAA of 1.21% and adjusted ROAA1 of 1.23% Reported Adjusted1 • Net interest margin (“NIM”) expansion of 5 basis points Diluted earnings per to 3.55% common share $0.84 $0.85 • 7.14% a
Slide 5: 1Q 2025 Earnings
1Q 2025 Earnings Quarter ended $ Change from $ in thousands, except per share data 1Q25 4Q24 1Q24 4Q24 1Q24 Total Revenue 130,673 130,378 107,452 295 23,221 Provision for credit losses 2,292 7,084 782 (4,792) 1,510 Noninterest Expense 79,549 73,174 72,420 6,375 7,129 Pre-tax income 48,832 50,120 34,
Slide 6: Driving shareholder value
Driving shareholder value Earnings per Share Book Value per Share Earnings per share Adjusted earnings per share 1 TBVPS1 BVPS $3.40 $2.92 $3.01 $34 $34 $2.64 $2.57 $2.48 $30 $31 $28 $28 $29 $27 $25 $26 $25 $23 $22 $22 $20 $19 $17 $0.84 $0.85 $14 $14 $15 $12 $12 2022 2023 2024 YTD 2025 3Q16 2016 201
Slide 7: Net Interest Margin
Net Interest Margin Highlights FTE NII / NIM Trend ($ in millions) • Net Interest Income (NII) impacted by – two fewer days in the quarter, lower yields on earning assets, and lower cash balances $109.0 $108.4 • Partially offset by deposit cost management $106.6 and higher loan balances $103.3 • Tim
Slide 8: Noninterest Income & Expense
Noninterest Income & Expense Highlights Noninterest Income ($ millions) • Noninterest income relatively flat QoQ on a $23.6 $22.0 $24.2 $23.0 $23.6 reported and adjusted basis1 – $8.0 • Mortgage banking was up $1.8MM or ~17% QoQ, driven by higher lock volumes in 1Q25 1Q24 4Q24 1Q25 Non-Interest Inco
Slide 9: Loans HFI
Loans HFI Loans HFI / Total Yield Portfolio Mix ($ billions) $9.77 C&I 1 $9.60 32% Other 6% $9.48 $9.29 $9.31 $9.8 CRE 2 22% Billion 1-4 family 17% 6.64% 6.70% 6.70% 6.51% 6.41% C&D 1-4 family 10% HELOC 6% Multifamily 7% 1Q 24 2Q 24 3Q 24 4Q 24 1Q 25 Loans HFI Total Loan HFI Yield • Continued focus
Slide 10: Diversified loan portfolio
Diversified loan portfolio C&I1 Exposure by Industry CRE2 exposure by type ($ millions) Other Assisted Living Office % of 8% Industry C&I CRE-OO Total Facility 17% Total 7% Real estate rental and leasing $ 278 $240 $518 17% Healthcare Facility 4% Finance and insurance 17 301 10% 284 Self Storage 6%
Slide 11: Office exposure
Office exposure • Office loans as of 1Q25 – Credit detail by class • Represent ~4% of total Loans HFI population Wtd. Avg. Wtd. Avg Class Outstanding Avg. • ~98% of portfolio is pass rated and current Balance Occupancy LTV • ~26% of portfolio matures by year-end 2026 Class A > $2 million $107.7 $9.0
Slide 12: Valuable deposit base
Valuable deposit base Deposits by customer segment ($mm) Highlights Consumer Commercial Public $10,976 $11,210 $11,203 • Granular deposit base and strong markets $10,505 $10,468 $1,413 $1,555 $1,638 create a valuable and solid funding base $1,554 $1,522 • Increase in noninterest-bearing deposits $4,
Slide 13: Asset Quality Metrics
Asset Quality Metrics Allowance for Credit Losses & Coverage Ratio Highlights ($ millions) $156 • 1Q25 ACL coverage ratio of 1.54% $155 • Recent charge-off activity due to credit specific $152 $152 $151 situations, not thematic across the portfolio 1.67% 1.65% 1.63% 1.58% • Loan growth in the quarte
Slide 14: Allowance Modeling & Reserve Allocation
Allowance Modeling & Reserve Allocation Allowance for Credit Losses (ACL) model utilizes Moody’s model1 with key economic data summarized below: For the quarter ended For the year ended 2Q25 3Q25 2025 2026 2027 2028 GDP(bcw$) $23,781.80 $23,879.20 $23,972.90 $24,381.70 $24,699.10 $25,241.80 Annual
Slide 15: Capital & Liquidity
Capital & Liquidity Capital Position On-balance sheet liquidity ($mm) 1Q24 4Q24 1Q25 On-balance sheet liquidity 1 Shareholder’s Equity/Assets 11.8% 11.9% 12.2% On-balance sheet liquidity / tangible assets $1,644 TCE/TA1 9.99% 10.2% 10.5% $1,462 $1,498 $1,385 $1,414 Common Equity Tier 12 12.6% 12.8%
Slide 16: Mortgage performance in 1Q 2025
Mortgage performance in 1Q 2025 Highlights Interest rate lock commitment volume ($mm) Purchase Refinance • Mortgage segment pre-tax net contribution of $377 $385 $381 $382 $1.5 million in 1Q25 $57 $49 $316 $53 $67 • Mortgage segment profitability has stabilized $58 delivering positive pre-tax net co
Slide 17: FBK & SSBK Combination
FBK & SSBK Combination Deal announced on March 31, 2025 Integration office has been established Status Teams from both institutions beginning to collaborate Workstreams established & timelines being formed • Furthers FB Financial’s expansion strategy into high value contiguous markets Pro Fo
Slide 18: Appendix
FB} pee Bank Appendix
Slide 19: Adjusted net income and diluted earnings per share
GAAP reconciliations and use of non-GAAP financial measures Adjusted net income and diluted earnings per share 18
Slide 20: Adjusted net income and diluted earnings per share
GAAP reconciliations and use of non-GAAP financial measures Adjusted net income and diluted earnings per share 19
Slide 21: Adjusted pre-tax pre-provision net revenue
GAAP reconciliations and use of non-GAAP financial measures Adjusted pre-tax pre-provision net revenue 20
Slide 22: Adjusted pre-tax pre-provision net revenue
GAAP reconciliations and use of non-GAAP financial measures Adjusted pre-tax pre-provision net revenue 21
Slide 23: Adjusted tangible net income
GAAP reconciliations and use of non-GAAP financial measures Adjusted tangible net income 22
Slide 24: Adjusted tangible net income
GAAP reconciliations and use of non-GAAP financial measures Adjusted tangible net income 23
Slide 25: Adjusted total risk-based capital
GAAP reconciliations and use of non-GAAP financial measures Adjusted total risk-based capital 24
Slide 26: Core efficiency ratio (tax-equivalent basis)
GAAP reconciliations and use of non-GAAP financial measures Core efficiency ratio (tax-equivalent basis) 25
Slide 27: Banking segment core efficiency ratio (tax-equivalent basis)
GAAP reconciliations and use of non-GAAP financial measures Banking segment core efficiency ratio (tax-equivalent basis) 26
Slide 28: Mortgage segment core efficiency ratio (tax-equivalent basis)
GAAP reconciliations and use of non-GAAP financial measures Mortgage segment core efficiency ratio (tax-equivalent basis) 27
Slide 29: Tangible assets, common equity and related measures
GAAP reconciliations and use of non-GAAP financial measures Tangible assets, common equity and related measures 28
Slide 30: Tangible assets, common equity and related measures
GAAP reconciliations and use of non-GAAP financial measures Tangible assets, common equity and related measures 29
Slide 31: Adjusted return on average tangible common equity and related measures
GAAP reconciliations and use of non-GAAP financial measures Adjusted return on average tangible common equity and related measures 30
Slide 32: Adjusted return on average tangible common equity and related measures
GAAP reconciliations and use of non-GAAP financial measures Adjusted return on average tangible common equity and related measures 31
Slide 33: Adjusted return on average assets, common equity and related measures
GAAP reconciliations and use of non-GAAP financial measures Adjusted return on average assets, common equity and related measures 32
Slide 34: Adjusted return on average assets, common equity and related measures
GAAP reconciliations and use of non-GAAP financial measures Adjusted return on average assets, common equity and related measures 33