FB Financial Corporation (FBK) Tops Q4 EPS by 7c, Beats on Revenues

FB Financial Corporation (NYSE: FBK) reported Q4 EPS of $0.60, $0.07 better than the analyst estimate of $0.53. Revenue for the quarter came in at $86 million versus the consensus estimate of $80.35 million.

Fourth Quarter Key Highlights

• Return on average assets (ROAA) of 1.96% and core ROAA of 1.59%
• Return on average equity (ROAE) of 15.8% and core ROAE of 12.8%
• Return on average tangible common equity (ROATCE) of 21.4% and core ROATCE of 17.4%
• Loans held for investment (HFI) grew to a record $3.17 billion, up 71.3% over December 31, 2016
• Total deposits grew to $3.66 billion, up 37.2% over December 31, 2016
• Total revenues of $86.0 million, up 42.5% from the fourth quarter of 2016
• Net interest margin-tax-equivalent basis (NIM) rose to 4.63% in the fourth quarter of 2017, up 0.64% from 3.99% in the fourth quarter of 2016; NIM was 4.35%, excluding accretion on purchased loans and collection of nonaccrual interest in the fourth quarter of 2017
• Loan loss provision of $1.0 million with net charge-offs of 0.05% of average loans
• Efficiency ratio was 66.9% and core efficiency ratio was 63.6%, reflecting positive operating leverage
• Tangible book value (TBV) per share increased to $14.56, up 25.7% from $11.58 at December 31, 2016, driving our tangible equity to tangible asset ratio to 9.72% at December 31, 2017, up 107 basis points from December 31, 2016

For earnings history and earnings-related data on FB Financial Corporation (FBK) click here.

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