FB Financial Corporation (NYSE: FBK) reports developments for a regional financial holding company whose wholly owned bank subsidiary, FirstBank, provides commercial and consumer banking services across Tennessee, Kentucky, Alabama, and Georgia. News commonly covers quarterly earnings, loan and deposit trends, net interest performance, capital deployment, and board actions such as cash dividends and common stock repurchase authorizations.
Company updates also address FirstBank's retail and commercial banking franchise, customer-service recognition, deposit funding strategy, and banking technology for commercial clients, including foreign currency payment capabilities delivered through third-party platforms. Coverage is centered on the Banking and Mortgage activities that generate deposits, lending relationships, residential mortgage servicing, and related financial results.
FB Financial Corporation (NYSE: FBK) reported a net loss of $(5.6) million, or $(0.14) per diluted share, for Q3 2020, down from a profit of $24 million, or $0.76 per share, in Q3 2019. Provisions for credit losses rose significantly to $55.4 million due to the CECL accounting method applied to the Franklin merger. Adjusted PTPP earnings increased to $72.3 million. The company also achieved a loan growth of 66% year-over-year, with total deposits rising by 205.3%. Despite challenges, management highlighted strong capital ratios and a robust online banking conversion as key positives.
FB Financial Corporation (NYSE: FBK) will release its 2020 third quarter results on October 26, 2020, after market close. A conference call to discuss the results is scheduled for October 27, 2020, at 8:00 a.m. CT. The call will be accessible via an online broadcast, and a 12-month replay will be available post-event. FB Financial operates as a community bank, managing approximately $11.0 billion in total assets across 87 branches in Tennessee and surrounding regions.
FB Financial Corporation (NYSE: FBK) will release its 2020 second quarter results on July 20, 2020, after market close. A conference call is scheduled for 8:00 a.m. CT on July 21, 2020, to discuss these results, which will be streamed live online. The bank operates through its subsidiary, FirstBank, with approximately $6.7 billion in total assets and branches across Tennessee, Kentucky, North Alabama, and North Georgia, making it the third-largest community bank in Tennessee.