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EX - 99.1 2 alq21 pressreleasetablesfor.htm EX - 99.1 FB Financial Corporation FB Financial Corporation Reports First Quarter 2021 Results Reports Q1 net income of $ 52.9 million , diluted EPS of $ 1.10 , ROAA of 1.86 % , and ROAE of 16.5 % Adjusted Q1 net income * of $ 53.5 million , diluted EPS * of $ 1.12 , ROAA * of 1.89 % , and ROAE * of 16.6 % NASHVILLE , TENNESSEE― April 26 , 2021 -- FB Financial Corporation ( the " Company " ) ( NYSE : FBK ) , parent company of FirstBank , reported net income of $ 52.9 million , or $ 1.10 per diluted common share , for the first quarter of 2021 , compared to net income of $ 0.7 million , or $ 0.02 per diluted common share , for the first quarter of 2020. Adjusting net income to exclude non - operating activity , net income was $ 53.5 million , or $ 1.12 per diluted common share for the three months ended March 31 , 2021 , compared to $ 5.3 million , or $ 0.17 per diluted common share , for the three months ended March 31 , 2020 . For the three months ended March 31 , 2021 , the company reported net income of $ 52.9 million , or $ 1.10 per diluted common share , compared to net income of $ 45.6 million , or $ 0.95 per diluted common share , for the three months ended December 31 , 2020. Adjusting net income to exclude non - operating items , net income was $ 53.5 million , or $ 1.12 per diluted common share , for the three months ended March 31 , 2021 , compared to adjusted net income of $ 54.5 million , or $ 1.14 per diluted common share , for the three months ended December 31 , 2020. The Company's book value per share increased at quarter end over the comparable value at December 31 , 2020 , by $ 0.73 , or 10.9 % annualized , to $ 28.08 . The Company's tangible book value per share increased by $ 0.78 , or 14.6 % annualized , over the prior quarter , and the return on tangible common equity was 20.6 % for the current quarter . President and Chief Executive Officer , Christopher T. Holmes stated , “ Our team has spent the first part of 2021 focusing on deepening and expanding customer relationships . Our efforts were rewarded as we delivered adjusted ROAA of 1.89 % and adjusted ROATCE of 20.9 % for the quarter . These strong financial results demonstrate the strength of our franchise as well as the ongoing recovery of our markets . " Holmes commented further , “ We also added value for our shareholders by increasing our tangible book value per share by $ 0.78 during the quarter to $ 22.51 . Our credit metrics remained strong , resulting in a release from our allowance for credit losses and unfunded commitments of $ 13.9 million during the quarter . The allowance for credit losses to loans held for investment ratio was a healthy 2.24 % at quarter end after the release . " Performance Summary . 2021 2020 ( dollars in thousands , expect per share data ) First Quarter Fourth Quarter First Quarter Annualized 1Q21 / 4Q20 % Change 1Q21 / 1Q20 % Change Balance Sheet Highlights Investment securities $ Mortgage loans held for sale , at fair value Commercial loans held for sale , at fair value 1,229,845 834,779 174,983 $ 1,176,991 683,770 $ 767,575 325,304 18.2 % 60.2 % 89.6 % 156.6 % 215,403 ( 76.1 ) % 100.0 % Loans held for investment ( HFI ) 7,047,342 7,082,959 4,568,038 ( 2.04 ) % 54.3 % Adjusted loans held for investment * Allowance for credit losses Total assets Customer deposits Brokered and internet time deposits 6,901,645 6,870,314 4,568,038 1.85 % 51.1 % 157,954 11,935,826 10,219,173 Total deposits 37,713 10,256,886 61,559 9,458,037 89,141 6,655,687 5,356,569 170,389 11,207,330 9,396,478 ( 29.6 ) % 26.4 % 35.5 % 77.2 % 79.3 % 90.8 % 20,363 5,376,932 ( 157.1 ) % 85.2 % 34.3 % 90.8 % Borrowings 180,179 Total common shareholders ' equity 1,329,103 238,324 1,291,289 327,822 ( 98.9 ) % 782,330 11.9 % ( 45.0 ) % 69.9 % Book value per share $ 28.08 $ 27.35 $ 24.40 10.8 % 15.1 % Total common shareholders ' equity to total 11.1 % assets Tangible book value per share * $ Tangible common equity to tangible assets * 22.51 9.13 % $ 11.5 % 21.73 $ 9.38 % 11.8 % 18.35 14.6 % 22.7 % 9.11 % * Certain measures are considered non - GAAP financial measures . See " Use of non - GAAP Financial Measures " and the corresponding non - GAAP reconciliation tables in the Supplemental Financial Information , which accompanies this Earnings Release , as well as " Use of non - GAAP Financial Measures " and the Appendix in the Earnings Release Presentation dated April 27 , 2021 , for a reconciliation and discussion of this non - GAAP measure . -MORE-