FB Financial Corporation Q1 2021 Earnings Call Apr 27, 2021, 9:00 a.m. Our regional leadership feels good about the growth prospects for the remainder of the year, and we added a new Central Alabama Region and key relationship managers in the quarter. And so, we get some calls, but frankly on most of them, we're to say and we've got other things on our mind. We had another successful quarter as we delivered adjusted EPS of $1.12 per share, adjusted ROAA of 1.89%, and adjusted return on tangible common equity of 20.9%. We also continue to see progress on reducing our money market and interest-bearing checking rates as we've been picking up a basis point or so per week on the cost of those deposits recently. And so, on the growth in public fund deposits, we have, we bank, just about the vast majority of our public funds would be sort of centralized operating type accounts. It keeps us thinking sharp, and thinking about that customer experience. If you think, there could be some improvement throughout the quarter? Seeking Alpha - FB Financial Corporation (NYSE:FBK) Q1 2021 Earnings Conference Call April 27, 2021 09:00 AM ET Company Participants Robert Hoehn - Director of … And so, the margin, if you just look--, and so, I look at about three things, one, just about the yield on the loan portfolio, which is holding in pretty reasonably well. FB Financial Corporation (NYSE:FBK)Q1 2021 Earnings CallApr 27, 2021, 9:00 a.m. I wanted to just see if you could give some additional color on that Birmingham team, maybe what size of bank, kind of, they're coming from? And if it--, do you think that would entail M&A, or just other team left out? Earnings Facebook (NASDAQ:FB) Earnings Information. As long as we continue to hold the portfolio, we are likely to see some small movements in the valuation as we mark that to market each quarter; our third quarter was a $1.9 million gain, the fourth quarter was a $1.4 million gain, the first quarter was $853,000 loss. On the whole, we feel comfortable with the help of our loan portfolio; charge-offs were minimal this quarter at 5 basis points; non-performing ratios held relatively steady this quarter; our classified loans saw a bit of a jump, with that increases primarily related to the credits I just discussed, primarily the assisted living. But, because of that, we were able to get a lot of insight into their investments, what they're looking at. The earnings season breakout in FB stock could be the start of a much bigger and longer uptrend wherein shares soar to $400 in 2021 for one big reason: Instagram Reels. Many of such factors are beyond FB Financial's ability to control or predict, and listeners are cautioned not to put undue reliance on such forward-looking statements. As a result, the retail channel should have a solid second quarter, but that will be largely or entirely offset by the impact of the declining volumes and margins in consumer direct. Fb inventory value was up as a lot as 6% in after-hours buying and selling on Wednesday after the corporate launched its first-quarter earnings, beating Wall Avenue’s expectations for earnings and income. Despite these wide swings, Facebook's shares have provided a total return of 24.0% over the past 12 months, still ahead of the S&P 500's total return of 15.7% as of January 23, 2021. In fact, when combining a Zacks Rank #3 or better and a positive Earnings ESP, stocks produced a positive surprise 70% of the time, while they also … Facebook stock price was up as much as 6% in after-hours trading on Wednesday after the company released its first-quarter earnings, beating Wall Street's expectations for earnings and revenue. I think we're seeing some improvement in real estate, so it's an improvement in the lease outlook too. And so, we're accustomed to seeing money come in in the first quarter and a big increase in those balances. Most of the goals and initiatives from our strategic plan are geared toward ensuring that we were the better bank for our customers than our competitors do. Despite these wide swings, Facebook's shares have provided a total return of 24.0% over the past 12 months, still ahead of the S&P 500's total return of 15.7% as of January 23, 2021. Moving on to CECL and our allowance, we saw a release of $13.9 million this quarter, as economic forecasts continue to improve. Yes, now, that's fair. Through February, balances were actually down $89 million, but then we had a very strong March with $120 million in growth. From an infrastructure standpoint, that means ensuring that a customer can attain any product with us they could, or [phonetic] with any of our competitor--, and with any other competitor; and second, that means enabling the customer to do business as conveniently as they can with any competitor, be it online, on the telephones, or through a branch location. But, it's the realism in ourselves, let's don't count on it. It's a new CECL, obviously, in just its first year of adoption. Total Facebook earnings for the quarter were $11.22 billion. No, I think that's fair. In the hotel portfolio, with details broken out on Slide 13, our larger operators are reporting improved occupancies, and I believe, are optimistic about the future as markets continue to open, the number of vaccinations increase, and travel picks back up. But as in any business model, shift takes time to fully implement, and we will continue to take advantage of the refinance business as long as it exists. We had $31 million in loan growth, excluding PPP, or 1.8% annualized. Earnings per share (EPS) also beat analysts’ expectations, recording $2.71 per share versus $1.91 the previous year. We hope you're right. And then, based on what the outlook, what Franklin's economists said, I know that's a direct number, but that's kind of how we think about it. FB’s Q1 2021 earnings per share (EPS) is expected to be $3.43 per Trefis analysis, above the consensus estimate of $2.36. Contents: Prepared Remarks; Questions and Answers; Call Participants; Prepared Remarks: Operator. [ April 28, 2021 ] U.S. stocks edge lower as investors weigh earnings, await Fed Trading Ideas [ April 28, 2021 ] Apple’s Q2 2021 earnings will focus on iPhone 12 sales, global chip shortage Trading Ideas And so, we enter that thinking about how can we be the leading bank in that market over a decade or so. Facebook (FB) 8 mins Why Amgen’s Earnings Disappointed – Barron’s Barron's 14 mins 3M Company (MMM), Management on Q1 2021 Results – Earnings Call Transcript Seeking Alpha From a personnel standpoint, we do that by setting up regions, investing our regional presence with the power to operate their regions as independent community banks. Yeah. The unintended operational consequences of the centralized model are the reason that smaller community banks have historically been able to pick off talent and customers from larger banks. We saw a decline initially last year from the closures of the doctors' offices, but again that picked back up with the reopening of the markets. Matt Olney -- Stephens Incorporated -- Analyst. And if you go back and look at how we approached Nashville, and how we've approached Chattanooga, and how we approach Knoxville, that's--, that's the way we go into each market. From a risk and uniformity standpoint, it's simpler to go with the centralized line of business model. ( 868,367 followers) Summary. And then, what your, maybe longer-term vision is for that market? And operator, we would like to ultimately answer your questions [phonetic] at this point. Lastly, we are remaining confident by having an allowance toward the upper end of our peers, 2.29%, excluding PPP. Ratings. The FANG stock earned $3.88 per share, up 52% from a year ago and 69 cents ahead of the consensus. But, so far, our folks have been right on target with what they've been projecting, so. We kind of approach most things conservatively because we're a bank. And I would just, I would say just thanks on the question and good to talk to you. While we're on deferrals, it's a good time to highlight some of the major portfolio categories that we've been tracking, or our industries of concern, as it's pointed out in the deck. Adjusted for normalized liquidity levels, the margins held relatively flat around 3.41% compared to 3.44% last quarter, and that detail is on Slide 5 in the impact of excess liquidity line. And so, by the way, we took in $800 million in the first quarter. FB - Facebook, Inc. 301.13. Facebook said it counts 3.45 billion monthly users across its family of apps, compared with 3.30 billion in the previous quarter. Facebook Inc. (NASDAQ:FB) scored a price-to-earnings ratio above its average ratio, recording 29.61 x from its present earnings ratio. And so, for us, it's trying to plan and it's trying to be routine about it. Zacks Equity Research April 27, 2021. The banking segment non-interest expense was a bit higher this quarter at $55.7 million, which excluding $4.5 million in FHLB pre-payment penalties compares to $52.9 million in the fourth quarter. (3/2021) Next Qtr (6/2021) Current Year (12/2021) Next Year (12/2022) Zacks Consensus Estimate: 23.70B: 25.39B: 108.61B: 129.94B # of Estimates: 14: … But if we look at the pipeline, again it gets a little stronger in the latter part of the quarter. Our full deferrals of principal and interest are down to $21 million, and we have $131 million of loans on interest-only payment schedules. While Facebook’s fourth quarter earnings report included solid user and revenue numbers, the company sounded a note of caution for 2021. So, yeah, we feel pretty good about a rising rate scenario, especially on the short end of the curve. Appreciate that. During this presentation, FB Financial may make comments which constitute forward-looking statements under the federal securities laws. Margin is one of our most key metrics and it's hard to use that as a judgment of success right now, because liquidity is so abundant. So, we will look forward to being back--, back on with you at the end of the next quarter. Facebook, Inc. (FB) latest earnings report: revenue, EPS, surprise, history, news and analysis. Here's how the social media giant fared in the quarter, relative to estimates compiled by Refinitiv: The company reported revenue of $26.17 billion for the quarter, which was up 48% compared with a year prior. And so, there I think, we've got some optimism as we move forward. As we look into the second quarter and the remainder of the year, our retail mortgage channel continue to look strong. NASDAQ | Post-Market: $301.81 0.68 (0.23%) 7:59 PM. But, we get small benefit from the earlier, that earlier stages of the increases. And when we talk about being a good operator, that's what we really mean. Good morning, everybody. Stock Advisor launched in February of 2002. And so, that's, well, how that is, or what that would like, we take it quarter by quarter, as opposed to having any--, have any certain target that we're aiming for. Earnings: $3.88 per share vs $3.22 per share forecast by Refinitiv; Revenue: $28.07 billion vs $26.44 billion forecast by Refinitiv I could probably formulate into a pretty good answer. Hey, Steven, I'll just add this. It's with a long-term intent to be one of the dominant banks in the market and we will utilize all of those things to be able to achieve that over a longer period of time. And so, if we look at the increase in the first quarter, a majority of that would be driven by public funded accounts that are existing accounts, that are simply funding up in the quarter. But, it helped to grow our tangible book 23% year-over-year. Listen to Webcast. Robert Hoehn -- Director of Corporate Finance. Can you talk about interest as it stands right now? And so, we are seeing, the pipeline actually look quite good, but it did--, we're also, but we're also seeing paydowns, because obviously it's been a pretty good time to refinance your--, it's been a good time to refinance. January 27, 2021 02:00 PM PT. Is that right? Facebook Q4 2020 Earnings. Point I have, I don't think if you talked to us at the beginning of the quarter, we had expected 35% annualized deposit growth. Thanks, everybody. Our mortgage team delivered $16.3 million in direct contribution this quarter, which was 71% of our fourth quarter 2020 contribution, so within our previous guidance of 70% to 100% of the fourth quarter's adjusted contribution. The Price to Earnings Ratio (PE Ratio) is calculated by taking the stock price / EPS (ttm). We do expect a solid purchase season, with the mortgage industry as a whole is facing its share of headwinds, including excess industrial capacity, and national and local housing shortages. Earnings Call Transcript ( PDF ) 299 KB. Slide 12 highlights the overall picture of those industry segments and you can see that credit quality has held up. A number of other equities analysts have also commented on FB. And might get, we've got a second-quarter phenomenon where we shrink the pipeline, that mark to market will be a negative for us. So, I think there could be some opportunity there. This trend is poised to continue as we have over $300 million of CDs repricing again this quarter in the 1.25% range. Facebook attributed the significant increase in revenue to a 30% year-over-year increase in the average price per ad and a 12% increase in the number of ads delivered. At this time, all participants have been placed on a listen-only mode. We hope you're right. And so, now, Chris has touched on margins decreasing, so even with that increase in refinance, you've got people fighting for less business, because we are still down substantially from the refinance perspective over the last year, as an industry over the last six weeks. This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. And so, that's the one that we will be focused on just to try to get as much out of that liquidity as we can. Hey, Matt, good morning. So, our value proposition for our customers is to be faster with less friction, while providing better advice than our competitors, whether that's a bank, or credit union, or a fintech company. 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