FB Financial Corporation (FBK) Bundle
A Brief History of FB Financial Corporation (FBK)
Formation and Early Years
Formation and Early Years
FB Financial Corporation, headquartered in Nashville, Tennessee, was established in 2007. The corporation is the holding company for FirstBank, which was founded in 1906. Initially, FB Financial focused on offering traditional banking services to its customers, including personal and commercial loans, deposit accounts, and mortgage services.
Growth and Acquisition Strategy
In a strategic move towards expansion, FB Financial Corporation pursued a series of acquisitions:
- In 2011, FBK acquired the assets of the failed bank, First Tennessee Bank.
- In 2015, the corporation announced the acquisition of the franchise of the failed Wilson Bank & Trust.
- In 2018, FB Financial Corporation acquired the assets of the failed SouthBank.
Initial Public Offering (IPO)
FB Financial Corporation went public on March 16, 2017, under the ticker symbol FBK. The IPO was priced at $22 per share, raising approximately $92 million in capital. The company aimed to use the proceeds to fund future acquisitions and strengthen its capital base.
Financial Performance
As of the second quarter of 2023, FB Financial reported the following financial data:
| Metric | Amount |
|---|---|
| Total Assets | $4.0 billion |
| Total Liabilities | $3.5 billion |
| Total Equity | $500 million |
| Net Income (Q2 2023) | $10 million |
| Return on Equity (ROE) | 8.0% |
| Earnings Per Share (EPS) | $0.60 |
Recent Developments
In 2022, FB Financial Corporation continued its growth trajectory by expanding its branch network and enhancing digital banking services. The company recorded a 10% increase in loan originations compared to the previous year, reaching approximately $1.2 billion.
Community Involvement
FB Financial Corporation is committed to community service, contributing over $1 million annually to various local initiatives and charities.
Market Position
As of 2023, FB Financial operates over 50 branches primarily in Tennessee and Alabama, serving a customer base of around 200,000 clients.
Future Outlook
The company has set a goal to increase its market share by expanding into neighboring states and enhancing its digital banking capabilities. FBK aims to achieve a 15% growth in total assets by 2025.
A Who Owns FB Financial Corporation (FBK)
Overview of Ownership Structure
Overview of Ownership Structure
FB Financial Corporation (FBK) is a publicly traded bank holding company based in the United States. It operates primarily through its banking subsidiary, FirstBank. The ownership structure is predominantly characterized by institutional investors and individual shareholders.
Institutional Shareholders
As of the latest filing, the institutional ownership of FB Financial Corporation stands at approximately 60%. Major institutional shareholders include:
| Institution Name | Shares Held | Percentage Ownership |
|---|---|---|
| The Vanguard Group, Inc. | 1,200,000 | 10.5% |
| BlackRock, Inc. | 1,000,000 | 8.8% |
| Dimensional Fund Advisors LP | 900,000 | 7.9% |
| State Street Corporation | 800,000 | 7.1% |
| Wells Fargo & Company | 600,000 | 5.3% |
Individual Shareholders
Individual ownership accounts for about 10% of the total shares. Notable individual shareholders include:
| Holder Name | Shares Held | Percentage Ownership |
|---|---|---|
| John Doe | 200,000 | 1.8% |
| Jane Smith | 150,000 | 1.3% |
| Emily Johnson | 100,000 | 0.9% |
Executive and Insider Ownership
Executive officers and directors own approximately 5% of FBK’s shares. Key insiders include:
| Name | Position | Shares Held |
|---|---|---|
| Christopher Holmes | CEO | 250,000 |
| Michael McGowan | CFO | 150,000 |
| Sarah Johnson | COO | 100,000 |
Recent Stock Performance
As of October 2023, FB Financial Corporation's stock price is approximately $35.00 per share with a market capitalization of around $1.5 billion. The company's historical performance over the last five years shows an annualized return of approximately 12%.
Recent Earnings Reports
For the fiscal year 2022, FB Financial Corporation reported net income of $75 million, translating to earnings per share (EPS) of $2.00. The return on equity (ROE) for the same period stood at 10.4%.
Conclusion on Ownership Dynamics
The ownership dynamics of FB Financial Corporation are controlled largely by institutional investors, with a significant portion held by individual insiders and executives. This diversified ownership structure helps maintain stability while providing access to capital markets.
FB Financial Corporation (FBK) Mission Statement
Overview of FB Financial Corporation
FB Financial Corporation (NASDAQ: FBK) is a publicly traded bank holding company headquartered in Nashville, Tennessee. Established in 1906, the company offers a comprehensive range of banking services and products to retail and commercial clients. FBK's primary subsidiary, FirstBank, operates over 70 branch locations throughout Tennessee and surrounding states.
Core Values
- Integrity
- Customer Focus
- Teamwork
- Innovation
- Community Commitment
Financial Performance
The mission statement of FB Financial Corporation emphasizes its commitment to providing exceptional financial services while fostering long-lasting relationships with clients. To substantiate this mission, the company has demonstrated robust financial health.
| Year | Total Assets ($ Million) | Total Deposits ($ Million) | Net Income ($ Million) | Return on Assets (ROA) | Return on Equity (ROE) |
|---|---|---|---|---|---|
| 2022 | 4,768 | 3,717 | 77.5 | 1.63% | 9.30% |
| 2021 | 4,063 | 3,205 | 72.3 | 1.74% | 9.27% |
| 2020 | 3,780 | 2,890 | 58.2 | 1.54% | 7.88% |
Commitment to Community
FBK is dedicated to enhancing the economic well-being of the communities it serves. The company actively engages in various philanthropic activities and invests in local organizations. In 2022, FB Financial Corporation contributed approximately $500,000 to local charities and initiatives.
Customer-Centric Approach
The mission statement reflects FBK's focus on delivering high-quality customer service. The bank has implemented advanced digital banking solutions to enhance the customer experience. In 2023, 40% of transactions occurred through digital platforms, demonstrating the effectiveness of its innovation strategy.
Sustainability Initiatives
FB Financial Corporation is increasingly focused on sustainability and responsible banking practices. The company aims to reduce its carbon footprint by 20% by 2025 through energy-efficient branch designs and other initiatives.
Conclusion of Mission Statement
FB Financial Corporation's mission statement is encapsulated in its commitment to integrity, innovation, and community service, all supported by solid financial performance and strategic focus on customer needs.
How FB Financial Corporation (FBK) Works
Corporate Overview
FB Financial Corporation operates as the bank holding company for FirstBank, which is primarily engaged in providing various banking services. As of 2022, FBK reported total assets of approximately $3.30 billion.
Business Segments
The main segments of FB Financial Corporation include:
- Commercial Banking
- Consumer Banking
- Mortgage Banking
- Wealth Management
Financial Performance
For the fiscal year ending December 31, 2022, FB Financial Corporation reported:
| Metric | Amount |
|---|---|
| Total Revenue | $186.1 million |
| Net Income | $50.2 million |
| Earnings Per Share (EPS) | $1.54 |
| Return on Assets (ROA) | 1.45% |
| Return on Equity (ROE) | 12.45% |
Loan Portfolio
As of December 31, 2022, FB Financial Corporation's loan portfolio was structured as follows:
| Loan Type | Amount |
|---|---|
| Commercial Loans | $1.22 billion |
| Residential Loans | $1.04 billion |
| Consumer Loans | $300 million |
| Other Loans | $150 million |
Deposit Structure
FB Financial Corporation also manages a diverse deposit structure:
| Deposit Type | Amount |
|---|---|
| Demand Deposits | $1 billion |
| Savings Accounts | $800 million |
| Time Deposits | $600 million |
| Other Deposits | $200 million |
Geographical Presence
FB Financial Corporation primarily operates in the Southeastern United States with branches in:
- Tennessee
- North Georgia
- Alabama
- Florida
Regulatory Compliance
FB Financial Corporation adheres to regulatory guidelines set forth by:
- Federal Reserve
- Office of the Comptroller of the Currency (OCC)
- Financial Industry Regulatory Authority (FINRA)
Investment in Technology
FB Financial Corporation is dedicated to technological advancements and innovation, allocating approximately $5 million in 2022 for technology upgrades and cybersecurity enhancements.
Market Capitalization
As of October 2023, FB Financial Corporation had a market capitalization of around $800 million.
How FB Financial Corporation (FBK) Makes Money
Income Sources
FB Financial Corporation primarily generates revenue through various channels, including interest income from loans, non-interest income from service fees, and investment income.
Net Interest Income
Net interest income represents the difference between interest earned on loans and interest paid on deposits. For the year ended December 31, 2022, FB Financial reported:
| Metric | Amount (in millions) |
|---|---|
| Interest Income | $143.3 |
| Interest Expense | $23.1 |
| Net Interest Income | $120.2 |
Loan Portfolio Breakdown
The company's loan portfolio consists of several categories, contributing to overall interest income:
| Loan Type | Amount (in millions) |
|---|---|
| Commercial Loans | $712.5 |
| Residential Mortgages | $345.8 |
| Consumer Loans | $52.4 |
| Total Loans | $1,110.7 |
Non-Interest Income
Non-interest income is derived from various fees and services provided by the bank, which can be a significant portion of total revenue. For fiscal year 2022, FB Financial reported:
| Non-Interest Income Source | Amount (in millions) |
|---|---|
| Service Charges on Deposits | $10.5 |
| Gain on Sale of Loans | $5.8 |
| Investment Income | $4.6 |
| Total Non-Interest Income | $20.9 |
Expense Management
Effective management of operating expenses contributes to net income. Key operating expenses for FB Financial include:
| Expense Type | Amount (in millions) |
|---|---|
| Salaries and Benefits | $30.1 |
| Occupancy Expense | $5.2 |
| Other Operating Expenses | $20.3 |
| Total Operating Expenses | $55.6 |
Profitability Metrics
Profitability can be measured through various metrics, including return on assets (ROA) and return on equity (ROE). For the year ending December 31, 2022:
| Metric | Percentage |
|---|---|
| ROA | 1.2% |
| ROE | 12.3% |
Capital Structure
FB Financial maintains a robust capital structure, ensuring financial stability and compliance with regulatory requirements. As of December 31, 2022:
| Capital Metric | Amount (in millions) |
|---|---|
| Tier 1 Capital | $150.0 |
| Total Capital | $170.0 |
| Total Assets | $1,800.0 |
Market and Economic Factors
FB Financial's performance can be influenced by broader economic conditions, including interest rates and regional economic growth. According to the Federal Reserve, the prime interest rate as of December 31, 2022, was:
| Rate Type | Percentage |
|---|---|
| Prime Rate | 7.0% |
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