FB Financial 1Q Profit, Revenue Rise

Dow Jones

15 Apr

By Katherine Hamilton

FB Financial posted a higher profit and revenue during the first quarter as it prepares for an acquisition and a range of economic conditions.

The holding company of FirstBank posted a profit of $39.4 million, or 84 cents a share, in the three months ended in March, compared with $28.0 million, or 59 cents a share, a year earlier.

Stripping out certain one-time items, adjusted per-share earnings were 85 cents, ahead of the 84 cents forecast by analysts, according to FactSet.

Revenue rose 22% to $130.7 million. Analysts surveyed by FactSet forecast revenue of $131.9 million.

Deposits increased 7% to $11.20 billion compared with the year before. FB's allowance for credit loss on loans was $150.5 million at the end of the first quarter, representing about 1.5% of loans, which Chief Executive Christopher Holmes said will help keep the bank prepared for a variety of economic outcomes.

"As we move into the coming months, our high levels of capital and liquidity provide good buffers against a range of economic conditions," Holmes said.

The Nashville, Tenn., bank said in March it plans to acquire Southern States Bancshares, which has branches in Alabama and Georgia, for $381 million. That deal is set to close in the third or fourth quarter.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

(END) Dow Jones Newswires

April 14, 2025 16:40 ET (20:40 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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That deal is set to close in the third or fourth quarter. \n</p>\n<p>\n  Write to Katherine Hamilton at katherine.hamilton@wsj.com \n</p>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  April 14, 2025 16:40 ET (20:40 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"FBK","symbol_name":"Fb Financial Corp","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2527427141","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2527427141","pubTimestamp":1744663200,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"FB Financial posted a higher profit and revenue during the first quarter as it prepares for an acquisition and a range of economic conditions.The holding company of FirstBank posted a profit of $39.4 million, or 84 cents a share, in the three months ended in March, compared with $28.0 million, or 59 cents a share, a year earlier.Stripping out certain one-time items, adjusted per-share earnings were 85 cents, ahead of the 84 cents forecast by analysts, according to FactSet.Revenue rose 22% to $130.7 million. Analysts surveyed by FactSet forecast revenue of $131.9 million.Deposits increased 7% to $11.20 billion compared with the year before. FB's allowance for credit loss on loans was $150.5 million at the end of the first quarter, representing about 1.5% of loans, which Chief Executive Christopher Holmes said will help keep the bank prepared for a variety of economic outcomes.\"As we move into the coming months, our high levels of capital and liquidity provide good buffers against a rang","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"FBK":"Fb Financial Corp"},"translate_title":"FB Financial第一季度利润、收入增长","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"FBK":0.9},"content_text":"By Katherine Hamilton \n\n\n  FB Financial posted a higher profit and revenue during the first quarter as it prepares for an acquisition and a range of economic conditions. \n\n\n  The holding company of FirstBank posted a profit of $39.4 million, or 84 cents a share, in the three months ended in March, compared with $28.0 million, or 59 cents a share, a year earlier. \n\n\n  Stripping out certain one-time items, adjusted per-share earnings were 85 cents, ahead of the 84 cents forecast by analysts, according to FactSet. \n\n\n  Revenue rose 22% to $130.7 million. 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