FB Financial Corporation Reports Increase in Adjusted Net Income; EPS Exceeds Forecast

Reuters
04 Jun
FB Financial Corporation Reports Increase in Adjusted Net Income; EPS Exceeds Forecast

FB Financial Corporation has released its latest financial results, highlighting a notable performance in certain areas. The company reported adjusted net income and adjusted diluted earnings per common share, excluding items management considers non-core. These non-GAAP financial measures are designed to provide a clearer view of the company's underlying performance, eliminating gains and charges not indicative of ongoing operations. The management highlighted that these measures facilitate better comparisons across periods and enhance the understanding of ongoing trends. The results include tangible assets, tangible common equity, and tangible book value per common share, offering a comprehensive view of the company's financial standing. FB Financial Corporation also emphasized its focus on capital adequacy, presenting figures that account for the potential sale of available-for-sale securities. This approach aims to provide investors with a more thorough assessment of the company's capital position. Moreover, the company reaffirmed its commitment to providing meaningful insights into its operating performance and assisting investors in comparing its results with those of other companies by offering a clear presentation of non-GAAP measures. However, specific figures regarding sales/revenues, net income, and outlook/guidance were not detailed in the release.

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