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Investing.com -- FB Financial Corporation (NYSE:FBK) reported first quarter earnings that beat analyst expectations, but revenue fell short of estimates, sending shares down 2.9% in response.
The parent company of FirstBank posted adjusted earnings per share of $0.85 for Q1 2025, topping the analyst consensus of $0.83. However, revenue came in at $130.67 million, missing estimates of $132.18 million.
FB Financial saw loans held for investment grow 7.14% annualized to $9.77 billion compared to the previous quarter. Deposits remained relatively flat at $11.20 billion. Net interest margin improved to 3.55%, up from 3.50% in Q4 2024 and 3.42% in Q1 2024.
"The Company had good results to start the year, with measured growth in loans and customer deposits during a quarter that was slower economically than we expected," said Christopher T. Holmes, President and CEO.
The company’s allowance for credit losses on loans held for investment stood at $150.5 million, or 1.54% of loans, down slightly from 1.58% at the end of 2024. Net charge-offs were $3.3 million in Q1, representing 0.14% of average loans on an annualized basis.
FB Financial repurchased 208,680 shares during the quarter as it maintained strong capital ratios. The company ended Q1 with a book value per share of $34.44 and tangible book value per share of $29.12.
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