Fb Financial Corporation · NYSE:FBK
Fb Financial — Q1 2017 Earnings Presentation
24 slides from Fb Financial's earnings presentation, Apr 24, 2017
Slide 1: First Quarter 2017 Earnings Presentation
First Quarter 2017 Earnings Presentation April 25, 2017
Slide 2: Forward looking statements
This presentation contains “forward-looking statements” made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking statements. You can identify these forward-looking statements throu
Slide 3: Use of non-GAAP financial measures
Use of non-GAAP financial measures This presentation contains certain financial measures that are not measures recognized under U.S. generally accepted accounting principles (GAAP) and therefore are considered non-GAAP financial measures. These non-GAAP financial measures include, without limitation
Slide 4: 1Q 2017 Highlights
Non-GAAP Core results1 Three months endedMarch 31, 2017 Diluted earnings per share $0.42 Net income $10.3 million Return on average assets 1.31% Return on average equity 12.5% Return on average tangible common equity 14.8% Efficiency ratio 73.3% 1Q 2017 Highlights Total revenues of $61.3 million for
Slide 5: Delivering profitability and growth
Delivering profitability and growth Drivers of profitability improvement Pro forma return on average assets1 ($mm) NIM (%) Noninterest income ($mm) NPA / assets (%) +25 bps Loans / deposits (%) 1 Our pro forma net income includes a pro forma provision for federal income taxes using a combined effect
Slide 6: Net interest margin strength
Net interest margin strength Historical yield and costs Source: Company information1 Includes tax-equivalent adjustment NIM (%) 4.03% 4.40% 4.05% 3.99% 4.28% NIM, ex-accretion (%) 3.90% 4.16% 3.94% 3.94% 4.12% Deposit cost (%) 0.29% 0.28% 0.30% 0.29% 0.32% Loan (HFI) yield 1Q 2016 4Q 2016 1Q 2017 Co
Slide 7: Consistent loan growth and balanced portfolio
Consistent loan growth and balanced portfolio Total loan growth1 ($mm) and commercial real estate concentration Loan portfolio breakdown1 4Q 2012 1Q 2017 Total HFI loans: $1,901mm Source: Company filings; 1 Exclude HFS loans, C&I includes owner-occupied CRE2 Risk-based capital at bank level as repor
Slide 8: Stable, low cost core deposit franchise
Stable, low cost core deposit franchise Total deposits ($mm) Source: Company filings; 1 Includes mortgage servicing-related escrow deposits of $44.1 million, $61.6 million, $45.4 million and $47.7 million for the quarters ended June 30, 2016, September 30, 2016, December 31, 2016 and March 31, 2017,
Slide 9: Mortgage Banking stable amid uncertain interest rate environment
Mortgage Banking stable amid uncertain interest rate environment Mortgage Banking income $25.1 million, down 4.2% from 4Q 2016 and up 2.4% from 1Q 2016IRLC pipeline volume of $1.60 billion during 1Q 2017 from $1.22 billion during 1Q 2016IRLC pipeline declined 16% from $533 million at 4Q 2016 to $449
Slide 10: Improving operating leverage remains a key objective
Improving operating leverage remains a key objective Continued focus to achieve better operating leverageBank’s core system creates a scalable platform designed to drive and support growth across marketsCapacity to grow business in key metropolitan markets, especially Nashville MSA, without adding s
Slide 11: Asset quality continues to improve
Asset quality continues to improve Source: Company filings.. Classified loans ($mm) Net charge-offs / average loans NPAs / assets LLR / loans (27) bps ($8) million
Slide 12: Strong capital position for future growth
Strong capital position for future growth Source: Company filings1 Total regulatory capital. 1Q 2017 calculation is preliminary and subject to change.2 See “Use of non-GAAP financial measures” and the Appendix hereto. Capital position Total capital composition 1Q 2016 4Q 2016 1Q 20171 Shareholder’s
Slide 13: Appendix
Appendix (FB) FirstBank
Slide 14: Strategic drivers
Strategic drivers Balanced business model buoyed by low-cost core deposit base Experienced senior management team Strong financial performer: delivering profitability and growth Community bank culture and family values Scalable mortgage platform Complementary positions in high growth metropolitan ma
Slide 15: Attractive footprint with balance between community and metropolitan markets
Attractive footprint with balance between community markets and platforms in high growth metropolitan markets 269123Blue dots 193210228Metro markets 130131135Highway 167169172State county outlines 8715487Green dots 148194148Community markets Source files are619754_FirstBank Bancorp.ai and mapinfo No
Slide 16: Selected financial data
Selected financial data Source: Company filings. * These measures are considered non-GAAP financial measures. See “Use of Non-GAAP financial measures” and the corresponding financial tables below for a reconciliation and discussion of these non-GAAP measures.
Slide 17: Selected financial data (cont'd)
Selected financial data (cont'd) Source: Company filings. * These measures are considered non-GAAP financial measures. See “Use of Non-GAAP financial measures” and the corresponding financial tables below for a reconciliation and discussion of these non-GAAP measures.
Slide 18: 1Q 2017 Highlights
1Q 2017 Highlights Source: Company filings. * These measures are considered non-GAAP financial measures. See “Use of Non-GAAP financial measures” and the corresponding financial tables below for a reconciliation and discussion of these non-GAAP measures. 1 Prior to the IPO in the third quarter of 20
Slide 19: GAAP reconciliation and use measures: Pro forma core net income
GAAP reconciliation and use of non-GAAP financial measures Pro forma core net income Source: Company filings.
Slide 20: GAAP reconciliation: Tax-equivalent efficiency ratio
GAAP reconciliation and use of non-GAAP financial measures Tax-equivalent efficiency ratio Source: Company filings. (1) Efficiency ratio (GAAP) is calculated by dividing non-interest expense by total revenue
Slide 21: GAAP reconciliation: Segment tax-equivalent efficiency ratio
GAAP reconciliation and use of non-GAAP financial measures Segment tax-equivalent efficiency ratio Source: Company filings.
Slide 22: GAAP reconciliation: Tangible assets and equity
GAAP reconciliation and use of non-GAAP financial measures Tangible assets and equity Return on average tangible equity Source: Company filings.
Slide 23: GAAP reconciliation: Pro forma return on average tangible common equity
GAAP reconciliation and use of non-GAAP financial measures Pro forma return on average tangible common equity Source: Company filings. Pro forma core return on average tangible equity Pro forma core return on average assets and equity
Slide 24: GAAP reconciliation: Pro forma core total revenue, core deposits
GAAP reconciliation and use of non-GAAP financial measures Pro forma core total revenue Core deposits Source: Company filings.