FB Financial Corp (FBK) Delivers a Blended Q4 Performance Facing Banking Hurdles.

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FB Financial Corp (FBK) has reported mixed Q4 results for 2023, with adjusted net income of $36.2 million, or $0.77 per diluted share, representing a change from $0.41 in the previous quarter and $0.81 in the same quarter of the previous year. Loans held for investment grew by 5.19% annually to $9.41 billion, while total deposits experienced a decline, falling to $10.55 billion from $10.86 billion in Q4 2022. The net interest margin increased to 3.46%, and the book value per common share rose to $31.05, a 23.6% annualized increase.

Despite the challenges faced by the banking industry, FB Financial Corp is focused on growing core banking relationships, improving net interest margin, and reducing expenses. The company’s performance in 2023 has positioned it well to face potential economic challenges and take advantage of opportunities.

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