Q1 2026 FB Financial Corp Earnings Call Transcript
Key Points
- FB Financial Corp (FBK) received the J.D. Power Retail Banking Award for customer satisfaction in the South Central region, highlighting strong client trust and service quality.
- The company reported an EPS of $1.10 and adjusted EPS of $1.12, with a tangible book value per share growth at a compounded annual growth rate of 11.6% since its IPO in 2016.
- FB Financial Corp (FBK) maintained a strong capital position with a common equity tier 1 ratio of 11.5% and a tier 1 leverage ratio of 10.4%, providing flexibility for growth and strategic opportunities.
- The company achieved a pre-tax, pre-provision net revenue of $77.2 million, or $78.2 million on an adjusted basis, despite a shorter reporting period.
- FB Financial Corp (FBK) demonstrated disciplined expense management, achieving an efficiency ratio of 55.2% or 54.3% on an adjusted basis, with expectations to maintain a low 50% range for the year.
- Revenue declined slightly during the quarter, although expenses decreased more significantly to maintain profitability metrics.
- The company faced competitive pressures, particularly in pricing, affecting both loan and deposit growth, which fell at the lower end of internal expectations.
- Net interest margin declined to 3.94%, with expectations of further pressure due to competitive dynamics and targeted growth opportunities.
- Non-interest income decreased by $2.4 million, primarily due to lower secondary mortgage volume and the absence of non-recurring items from the previous quarter.
- The interest rate environment remains uncertain, with potential impacts on net interest margin due to future benchmark rate movements.
Good morning everyone and welcome to the FB Financial first quarter 2026 earnings call. Please note this event is being recorded.
At this time I'd like to turn the conference call over to [Rachel Duresky] with FB Financial. Please go ahead.
Good morning, and welcome to FB Financial Corporation's first quarter 2026 earnings conference call. Hosting the call today from FB Financial are Chris Holmes, President and Chief Executive Officer; and Michael Mettee, Chief Operating and Financial Officer. Please note FB Financial's earnings release, supplemental financial information, and this morning's presentation are available on the Investor Relations page at the company's website at www.firstbankonline.com and on the Securities and Exchange Commission's website at www.sec.gov.
Today's call is being recorded and will be available for replay on FB Financial's website approximately an hour
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