Fb Financial Corporation · NYSE:FBK
Fb Financial — Q1 2019 Earnings Presentation
21 slides from Fb Financial's earnings presentation, Apr 23, 2019
Slide 1: First Quarter 2019 Earnings Presentation
First Quarter 2019 Earnings Presentation April 23, 2019
Slide 2: Forward looking statements
Forward looking statements This presentation contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that have been made pursuant to the safe harbor provisions of the Privat
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 limitati
Slide 4: 1Q 2019 highlights
1Q 2019 highlights Key highlights Financial results Adjusted diluted EPS1 of $0.66, resulting in adjusted 1Q 2019 ROAA1 of 1.63% Diluted earnings per share $0.62 Loans (HFI) grew to $3.8 billion, a 16.7% increase from Adjusted diluted earnings per share1 $0.66 1Q 2018; grew 13.2% annualized from
Slide 5: Delivering balanced profitability and growth
Delivering balanced profitability and growth Pro forma return on average assets, adjusted1 1.69% 1.63% 1.52% 1.46% 1.21% 2015 2016 2017 2018 1Q19 Drivers of profitability Loans / deposits Net interest margin Noninterest income ($mn) NPLs (HFI) / loans (HFI) (%) Loans excluding HFS Loans HFS $145 $14
Slide 6: Net interest margin remains strong
Net interest margin remains strong Historical yield and costs 7.0% $5,000 $4,500 Avg. interest earning assets 6.0% Yields and Costs (%) $4,000 5.0% $3,500 $3,000 ($mm) 4.0% $2,500 3.0% $2,000 2.0% $1,500 $1,000 1.0% $500 -- $0 1Q18 2Q18 3Q18 4Q18 1Q19 NIM (%) 4.64% 4.81% 4.71% 4.50% 4.61% Impact of
Slide 7: Consistent loan growth and balanced portfolio
Consistent loan growth and balanced portfolio Total loan growth1 ($million) and commercial real estate concentration % of Risk-Based Capital Commercial real estate (CRE) concentrations2 4Q18 1Q19 (preliminary) $3,668 $3,787 C&D loans subject to 100% risk- $3,416 $3,539 99% 91% $3,245 based capital t
Slide 8: Stable core deposit franchise
Stable core deposit franchise Total deposits ($million) Cost of deposits Noninterest bearing (%) Cost of total deposits (%) 30.0% $4,303 24.8% $4,129 $4,172 24.7% 23.3% 22.8% 22.4% 25.0% $69 $3,910 $112 $103 $3,766 20.0% 1.14% $66 1.03% $81 15.0% $4,234 0.80% $4,017 $4,069 10.0% $3,685 $3,844 0.62%
Slide 9: Mortgage operations overview
Mortgage operations overview Highlights Quarterly mortgage production Total Mortgage adjusted pre-tax Consumer Direct contribution1 of $0.7 million for 1Q 2019; adjusted for $1.1 million of restructuring Correspondent 1Q18 4Q18 1Q19 related expenses Third party originated (TPO) Retail Mortgage b
Slide 10: Improving operating leverage
Improving operating leverage Improving operating efficiency Core efficiency ratio (tax-equivalent basis)1 Consolidated 1Q 2019 core efficiency ratio1 of 64.9% driven by Banking Banking segment segment core efficiency ratio1 of 54.7%, Consolidated which has decreased by 319 basis points since 1Q 20
Slide 11: Asset quality remains stable
Asset quality remains stable Nonperforming ratios Classified & PCI loans ($million) 1 NPLs (HFI) / loans (HFI) NPAs / assets Classified Purchased credit impaired 0.59% 0.61% 0.57% $86 0.52% 0.51% $78 $74 $63 0.46% $66 $69 0.41% $58 $60 $61 $53 0.30% 0.30% 0.26% 1Q18 2Q18 3Q18 4Q18 1Q19 1Q18 2Q18 3Q1
Slide 12: Strong capital position for future growth
Strong capital position for future growth Capital position Tangible book value per share 1Q18 4Q18 1Q191 $17.02 $17.73 Shareholder’s equity / 12.9% 13.1% 13.0% Assets $11.56 $11.58 TCE / TA2 10.1% 10.5% 10.5% 3Q16 4Q16 4Q18 1Q19 Common equity tier 1 / 11.0% 11.7% 12.0% Simple capital structure Risk-
Slide 13: Appendix
Appendix FB) FirstBank
Slide 14: GAAP reconciliation: Net income and diluted EPS, adjusted
GAAP reconciliation and use of non-GAAP financial measures Net income and diluted earnings per share, adjusted 13
Slide 15: GAAP reconciliation: Pro forma net income and diluted EPS, adjusted
GAAP reconciliation and use of non-GAAP financial measures Pro forma net income and diluted earnings per share, adjusted 14
Slide 16: GAAP reconciliation: Core efficiency ratio
GAAP reconciliation and use of non-GAAP financial measures Core efficiency ratio (tax-equivalent basis)(a) 15
Slide 17: GAAP reconciliation: Segment core efficiency ratios
GAAP reconciliation and use of non-GAAP financial measures Segment core efficiency ratios (tax-equivalent basis)(a) 16
Slide 18: GAAP reconciliation: Mortgage contribution, adjusted
GAAP reconciliation and use of non-GAAP financial measures Mortgage contribution, adjusted 17
Slide 19: GAAP reconciliation: Tangible assets and equity
GAAP reconciliation and use of non-GAAP financial measures Tangible assets and equity Return on average tangible common equity 18
Slide 20: GAAP reconciliation: Return on average tangible equity, adjusted
GAAP reconciliation and use of non-GAAP financial measures Return on average tangible equity, adjusted Return on average assets and equity, adjusted 19
Slide 21: GAAP reconciliation: Pro forma return on average assets and equity
GAAP reconciliation and use of non-GAAP financial measures Pro forma return on average assets and equity, adjusted 20