FB Financial Corp. (FBK), parent company of FirstBank, reported higher earnings in its first quarter, compared to prior year, attributed by strong revenue growth.
On the New York Stock Exchange, shares of FB were down 3.47 percent in after hours, trading at $54.05, after closing Monday's regular trading 2 percent higher.
For the first quarter, net income applicable to FB Financial increased to $57.53 million or $1.10 per share from $39.36 million or $0.84 per share last year.
On an adjusted basis, net income was $58.27 million or $1.12 per share, compared to $40.11 million or $0.85 per share last year.
Provisions for credit losses grew to $3.02 million from $2.29 million a year before.
Quarterly net revenue improved to $172.34 million from $130.67 million a year earlier.
Net interest income for the first quarter was $145.97 million, compared to $107.64 million in the prior year.
Net interest margin improved to 3.94 percent from 3.55 percent a year ago.
Noninterest income climbed up to $26.38 million from $23.03 million in the previous year.
For the first quarter, loans held for investment was $12.50 billion, compared to $9.77 billion at the end of the first quarter of last year.
Deposits were $14.08 billion, compared to $11.20 billion as of March 31, 2025.
President and Chief Executive Officer, Christopher Holmes stated, "Looking forward, we see active pipelines across our markets and remain optimistic about economic conditions in our footprint."
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