Fb Financial Corporation · NYSE:FBK
Fb Financial — Q4 2016 Earnings Presentation
24 slides from Fb Financial's earnings presentation, Jan 27, 2017
Slide 1: Fourth Quarter 2016 Earnings Presentation
Fourth Quarter 2016 Earnings Presentation January 27,2017
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: 4Q 2016 Highlights
Non-GAAP Core results1 3 months endedDecember 31, 2016 Diluted earnings per share $0.43 Net income $10.5 million Return on average assets 1.30% Return on average equity 13.1% Return on average tangible common equity 15.6% Efficiency ratio 73.7% 4Q 2016 Highlights Total revenues of $60.4 million for
Slide 5: Delivering profitability and growth
Delivering profitability and growth Drivers of profitability improvement 1 Our pro forma net income and pro forma core net income include a pro forma provision for federal income taxes using a combined effective income tax rate of 38.51%, 37.32%, 37.45%, 37.21% and 34.70% for the quarters ended Dece
Slide 6: Net interest margin driven by multiple levers
Net interest margin driven by multiple levers Historical yield and costs Source: Company informationNote: Financial data as of December 31, 20161 Includes tax-equivalent adjustment NIM (%) 3.85% 4.03% 4.40% 4.05% 3.99% NIM, ex-accretion (%) 3.82% 3.90% 4.16% 3.94% 3.94% Deposit cost (%) 0.28% 0.29%
Slide 7: Consistent loan growth and balanced portfolio
Consistent loan growth and balanced portfolio Total loan growth1 ($mm) and commercial real estate concentration Loan portfolio breakdown1 4Q 2015 4Q 2016 Total HFI loans: $1,849mm Source: Company filings; Note: Financial data as of December 31, 20161 Exclude HFS loans, C&I includes owner-occupied CR
Slide 8: Stable, low cost core deposit franchise
Stable, low cost core deposit franchise Total deposits ($mm) Source: Company filings; Note: Financial data as of December 31, 20161 Includes $45.4 million in mortgage servicing-related escrow deposits compared to $61.6 million at 3Q 2016. Noninterest bearing deposits ($mm)1 Growth: 11.2% Deposit com
Slide 9: Mortgage Banking impacted by higher rates, seasonality
Mortgage Banking impacted by higher rates, seasonality Mortgage Banking income $26.2 million, down 29% from 3Q 2016 and up 37% from 4Q 2015, primarily due to lower interest rate lock (IRLC) pipelineIRLC pipeline declined 37% from $851 million at 3Q 2016 to $533 million at 4Q 2016Record mortgage clos
Slide 10: Improving operating leverage remains a key objective
Improving operating leverage remains a key objective Continued focus to achieve better operating leverageBank’s core system creates a scalable platform designed to drive and support growth across marketsCapacity to grow business in key metropolitan markets, especially Nashville MSA, without adding s
Slide 11: Asset quality continues to improve
Asset quality continues to improve Source: Company filings. Financials as of December 31, 2016. Classified loans ($mm) Net charge-offs / average loans NPAs / assets LLR / loans (28) bps ($10) mm
Slide 12: Summary of capital position
Summary of capital position Source: Company filingsNote: Financial data as of December 31, 20161 Total regulatory capital. Capital position Total capital composition 4Q 2015 3Q 2016 4Q 2016 Shareholder’s equity / Assets 8.2% 10.3% 10.1% TCE / TA (non-GAAP) 6.4% 8.8% 8.7% Common equity tier 1 8.2% 11
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. 1 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.Note: Financial data as of December 31, 2
Slide 17: Selected financial data (cont'd)
Selected financial data (cont'd) Source: Company filings. 1 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.Note: Financial data as of Decem
Slide 18: 4Q 2016 Highlights
4Q 2016 Highlights Source: Company filings. Financial data as of December 31, 2016* 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
Slide 19: GAAP reconciliation: Pro forma core net income
GAAP reconciliation and use of non-GAAP financial measures Pro forma core net income Source: Company filings. Note: Financial data as of December 31, 2016
Slide 20: GAAP reconciliation: Tax-equivalent efficiency ratio
GAAP reconciliation and use of non-GAAP financial measures Tax-equivalent efficiency ratio Source: Company filings. Note: Financial data as of December 31, 2016
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. Note: Financial data as of December 31, 2016
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. Note: Financial data as of December 31, 2016
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. Note: Financial data as of December 31, 2016 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. Note: Financial data as of December 31, 2016