Fb Financia Stock Price, News & Analysis

FB Financial Corporation (NYSE: FBK) reported a Q1 2023 net income of $36.4 million, or $0.78 per diluted share, compared to $0.81 in Q4 2022 and $0.74 in Q1 2022. The adjusted diluted EPS was $0.76, down from $0.85 in the previous quarter. Deposits grew by 12.2% annualized to $11.18 billion, while loans held for investment increased by 2.96% annualized to $9.37 billion. However, the net interest margin decreased to 3.51% from 3.78% in Q4 2022, primarily due to rising deposit costs. The company maintained a healthy liquidity position and improved credit quality metrics. Furthermore, they raised their dividend by 15.4%, reflecting confidence in their capital strength amidst economic uncertainties.

FB Financial Corporation (NYSE:FBK) will announce its 2023 Q1 results on April 17, 2023, after market close. A conference call is scheduled for April 18, 2023, at 8:00 a.m. CT to discuss the results. Investors can join the call by dialing 877-883-0383 with confirmation code 3946795. A replay will be available until April 25, 2023, by calling 877-344-7529. The conference call will also be streamed live online, and an online replay will be accessible for 12 months. FB Financial operates through its subsidiary, FirstBank, which has approximately $12.8 billion in total assets.

FirstBank has announced a strategic investment in Zippy, a fintech company that provides fully digital manufactured home loans. This partnership aims to enhance access to affordable homeownership through innovative lending solutions. Zippy operates in nine states and plans to expand its reach significantly in 2023. The initiative is part of FirstBank's commitment to meet the housing needs of communities, especially as home prices continue to rise. With a robust total asset base of $12.8 billion, FirstBank seeks to leverage its extensive experience in manufactured home lending to create pathways for new homeowners.