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EX - 99.1 2 a2q21pressreleasetablesfor.htm EX - 99.1 FB Financial Corporation FB Financial Corporation Reports Second Quarter 2021 Results Reports Q2 diluted EPS of $ 0.90 , ROAA of 1.46 % NASHVILLE , TENNESSEE― July 19 , 2021-- FB Financial Corporation ( the “ Company ” ) ( NYSE : FBK ) , parent company of FirstBank , reported net income of $ 43.3 million , or $ 0.90 per diluted common share , compared to $ 0.70 per diluted common share in the same quarter last year and $ 1.10 in the previous quarter . Excluding non - operating activity , adjusted net income was $ 42.3 million , or $ 0.88 per diluted common share , compared to $ 0.74 per diluted common share in the same quarter last year and $ 1.12 in the previous quarter . The Company's return on average assets for the second quarter was 1.46 % ( 1.43 % adjusted ) and return on tangible common equity was 16.1 % ( 15.8 % adjusted ) . The Company recorded growth in loans held for investment ( " HFI " ) of $ 151.6 million in the second quarter , or 8.63 % annualized . Excluding Paycheck Protection Program ( " PPP " ) loans , the Company recorded HFI loan growth of $ 239.9 million , or 13.9 % annualized . The Company recorded total reversals of loan loss provisions amounting to $ 13.8 million , bringing the allowance for credit losses ( " ACL " ) to 2.01 % of HFI loans , or 2.03 % adjusted , to remove PPP loans . For the six months ended June 30 , 2021 , the Company reported net income of $ 96.2 million , or $ 2.00 per diluted common share , compared to $ 23.6 million , or $ 0.74 per diluted common share , for the same period in 2020. Adjusting for non - operating items , EPS was $ 2.00 and $ 0.92 for the first six months of 2021 and 2020 , respectively . The Company's book value per common share at quarter - end was $ 28.96 and the tangible book value ( " TBV " ) per common share was $ 23.43 , representing a 16.4 % annualized increase in TBV from the previous quarter - end . President and Chief Executive Officer , Christopher T. Holmes stated , “ The team delivered an outstanding quarter of loan growth and also lowered deposit costs by 10 bps during the quarter . These efforts contributed to net interest income growth of 4.83 % quarter over quarter , or 19.4 % annualized . We also added value for our shareholders by increasing our tangible book value per share at an annualized rate of 15.8 % , during the first half of the year . " Performance Summary . 2021 2020 ( dollars in thousands , expect per share data ) Second Quarter First Quarter Second Quarter Annualized 2Q21 / 1Q21 % Change 2Q21 / 2Q20 % Change Balance Sheet Highlights Investment securities $ Mortgage loans held for sale , at fair value 1,409,175 697,407 $ 1,229,845 834,779 $ 751,767 435,479 58.5 % ( 66.0 ) % 87.4 % 60.1 % Commercial loans held for sale , at fair value 124,122 174,983 ( 116.6 ) % 100.0 % Loans held for investment ( HFI ) 7,198,954 7,047,342 4,827,023 8.63 % 49.1 % Adjusted loans held for investment * Allowance for credit losses Total assets Customer deposits 7,141,548 6,901,645 4,512,345 13.9 % 58.3 % 144,663 157,954 113,129 ( 33.8 ) % 27.9 % 11,918,367 10,163,056 11,935,826 10,219,173 7,255,536 ( 0.59 ) % 64.3 % 5,937,373 ( 2.20 ) % 71.2 % Brokered and internet time deposits Total deposits 40,900 10,203,956 37,713 10,256,886 15,428 33.9 % 165.1 % 5,952,801 ( 2.07 ) % Borrowings 183,962 Total common shareholders ' equity 1,371,721 180,179 1,329,103 328,662 8.42 % 71.4 % ( 44.0 ) % 805,216 12.9 % 70.4 % Book value per share $ 28.96 $ 28.08 $ 25.08 12.6 % 15.5 % Total common shareholders ' equity to total 11.5 % 11.1 % 11.1 % assets Tangible book value per common share * $ Tangible common equity to tangible assets * 23.43 9.52 % $ 22.51 $ 19.07 16.4 % 22.9 % 9.13 % 8.67 % * 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 July 20 , 2021 , for a reconciliation and discussion of this non - GAAP measure . -MORE-