FB Financial Corp FBK:NYSE

Last Price$39.18NYSE Previous Close - Last Trade as of 7:00PM ET 5/18/22
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FB Financial's Q3 Adjusted Net Income, Revenue Falls

4:50PM ET 10/18/2021 MT Newswires
FB Financial (FBK) reported Monday Q3 adjusted net income of $0.89 per diluted common share, compared with $1.43 per diluted common share in the same quarter last year.

Analysts polled by Capital IQ expected Q3 normalized EPS of $0.81.

Q3 revenue -- comprising net interest income plus non-interest income -- was at about $147.5 million, compared with $165.9 million in the same quarter last year.

The company said it saw a total net reversal in provisions for credit losses of $2.5 million in Q3, including a provision for credit losses on unfunded commitments of $300,000.

Nonperforming loans were 0.59% of loans HFI as of Sept. 30, compared to 0.83% as of June 30, 2021. Deferrals resulting from the COVID-19 pandemic decreased to $18 million, or 0.25% of loans HFI, as of Sept. 30, 2021, compared to the aggregate balance deferred during the crisis of $1.64 billion.