FB Financial reports Q2 EPS 88c, consensus 88c

Reports Q2 NIM 3.68% vs. 3.57% y/y. Reports Q2 loan loss provision $5.3M vs. $2.2M last year. President and Chief Executive Officer, Christopher T. Holmes stated, “The Company delivered solid operating results in the second quarter with growth in both loans and customer deposits, a healthy net interest margin and managed expense growth, along with strong capital and liquidity positions. Additionally, we repositioned our balance sheet by selling low-yielding securities which will further enhance both our liquidity and margin moving forward. With the momentum of the quarter, the impact of the balance sheet enhancements and the July 1st closing of the Southern States Bancshares, Inc. merger, we are well-positioned for the second half of the year.”