Core Insights - FB Financial reported an EPS of $1.07 and an adjusted EPS of $1.16 for the quarter, with a tangible book value growth of 11.6% since its IPO [5][6] - The company achieved a pretax, pre-provision net revenue of $71.1 million, driven by net interest income of $150.6 million and a net interest margin of 3.98% [5][11] - For the year, FB Financial reported a net income of $122.6 million and an adjusted net income of over $200 million [11] Financial Performance - The company experienced a 29% growth in loans held for investment and a 25% increase in deposits year over year [6][15] - Adjusted returns included a return on average assets of 1.4% and a return on average tangible common equity of 14.4% [6] - Non-interest income improved due to stronger swap fees and investment services revenue [11] Growth Strategy - FB Financial's growth strategy focuses on enhancing customer experience and expanding capabilities through talent acquisition and organizational optimization [7][9] - The company aims to return to a high single-digit growth rate in 2026, despite some underperformance in organic growth during 2025 [15][19] - The management emphasized a strong focus on customer relationships to drive business growth [9][10] M&A and Market Position - FB Financial successfully acquired Southern States Bank, which added approximately 20% to its size [10][11] - The company is open to evaluating additional M&A opportunities, particularly in the Southeastern U.S. and contiguous states [61][62] - Management noted significant market disruption, creating opportunities for growth and talent acquisition [50][52] Expense Management - Non-interest expenses for the quarter were reported at $107.6 million, with merger and integration costs expected to conclude by the end of Q1 2026 [12][19] - The company anticipates banking expenses to be between $325 million and $335 million for the full year 2026 [19] - FB Financial is focused on maintaining operational discipline while being open to strategic investments in talent [38][39] Credit Quality - The provision expense for the quarter was $1.2 million, reflecting low charge-offs and stable credit outlook [13] - The allowance for loan losses settled at $186 million, representing 1.5% of loans held for investment [13] - Non-performing assets increased slightly, but loss content remains low with annualized net charge-offs at only five basis points [13]

Core Insights - The holiday season is a time for investors to reassess their finances and prepare for the upcoming year, with analysts making S&P 500 projections and gearing up for Q1 earnings [2] Group 1: SEI Investments Co. - SEI Investments is a $10 billion financial services firm transitioning from traditional wealth management to a "wealth-tech" company, providing technology solutions for banks and investors [4] - The SEI Wealth Platform is a key innovation helping legacy financial firms modernize, contributing to analysts' optimism about SEI's transformation [5] - Recent upgrades from Piper Sandler and Keefe, Bruyette, and Woods have moved SEI's stock rating from Neutral to Outperform, with Morgan Stanley raising its price target to $117, indicating a potential upside of nearly 23% [8] Group 2: Copa Holdings SA - Copa Holdings, with a market cap of $5.4 billion, is a significant player in the airline industry, benefiting from its strategic hub in Panama [10] - The company offers a dividend yield of 5.05% with a low payout ratio, and expects to expand capacity by up to 13% with new Boeing aircraft [11] - Analysts have rated Copa Holdings a Strong Buy, with an average price target of $160, suggesting potential upside of over 22% [14] Group 3: FB Financial Corp. - FB Financial, the parent of FirstBank, is focusing on high-growth southern markets following its acquisition by PNC Financial Services Group [15] - Analysts have given FB Financial Outperform ratings, with price targets ranging from $58 to $66, and the stock has already gained more than 5% at the start of 2026 [16] Group 4: Archrock Inc. - Archrock is an energy company specializing in natural gas compression equipment, generating recurring revenue from clients [19] - The company has a 3.27% dividend yield and a 55% payout ratio, making it attractive for income investors [20] - Archrock's stock has received a Strong Buy rating based on analyst upgrades, and it has recently broken above key moving averages, indicating positive momentum [22] Group 5: Serve Robotics Inc. - Serve Robotics is a $1.17 billion company focused on last-mile autonomous delivery, partnering with Uber Eats and DoorDash [23] - Analysts have set high price targets for Serve Robotics, with Oppenheimer rating it a Buy at $20 and Northland Capital Markets raising their target to $26 [25] - The stock has recently broken out of a downtrend, supported by positive technical indicators [25]

Core Insights - The State Street SPDR S&P Bank ETF (KBE) is a smart beta ETF launched on November 8, 2005, providing broad exposure to the Financials sector [1] - KBE aims to match the performance of the S&P Banks Select Industry Index, which is a modified equal-weighted index reflecting publicly traded banks and thrifts [5][6] Fund Management and Size - Managed by State Street Investment Management, KBE has accumulated over $1.38 billion in assets, making it one of the larger ETFs in the Financials category [5] - The fund has an annual operating expense ratio of 0.35%, positioning it as one of the least expensive options in the market [7] Performance Metrics - As of November 6, 2025, KBE has gained approximately 5.04% year-to-date and 7.19% over the past year, with a trading range between $45.85 and $62.76 in the last 52 weeks [11] - The fund has a beta of 1.02 and a standard deviation of 28.16% over the trailing three-year period, indicating a higher risk profile [11] Sector Exposure and Holdings - KBE is fully allocated to the Financials sector, with its top 10 holdings representing about 11.19% of total assets [8][9] - Comerica Inc (CMA) is the largest individual holding at approximately 1.22% of total assets [9] Alternatives in the Market - Other ETFs in the Financials space include the First Trust NASDAQ Bank ETF (FTXO) and the Invesco KBW Bank ETF (KBWB), with assets of $240.53 million and $5.69 billion respectively [12] - FTXO has an expense ratio of 0.60%, while KBWB matches KBE's expense ratio of 0.35% [12]

Core Insights - The SPDR S&P Bank ETF (KBE) is designed for broad exposure to the Financials - Banking segment, launched on November 8, 2005, and is favored for its low costs and tax efficiency [1][2] Fund Overview - KBE is sponsored by State Street Investment Management and has over $1.37 billion in assets, making it one of the larger ETFs in the Financials - Banking segment [3] - The ETF aims to match the performance of the S&P Banks Select Industry Index, which includes publicly traded banks and thrifts [4] Cost Structure - KBE has an annual operating expense ratio of 0.35%, positioning it as one of the least expensive options in its category, with a 12-month trailing dividend yield of 2.56% [5] Sector Exposure and Holdings - The ETF is fully allocated to the Financials sector, with about 100% of its portfolio dedicated to this area [6] - Comerica Inc (CMA) represents approximately 1.22% of total assets, with the top 10 holdings accounting for about 11.19% of total assets under management [7] Performance Metrics - KBE has increased by about 4.28% year-to-date and 8.13% over the past year, with a trading range between $45.85 and $62.76 in the last 52 weeks [8] - The ETF has a beta of 1.02 and a standard deviation of 28.17% over the trailing three-year period, indicating a higher risk profile [8] Investment Alternatives - KBE holds a Zacks ETF Rank of 2 (Buy), indicating strong potential for investors seeking exposure to the Financials ETFs segment [9] - Other ETFs in the space include First Trust NASDAQ Bank ETF (FTXO) and Invesco KBW Bank ETF (KBWB), with respective assets of $238.26 million and $5.66 billion [10]

Group 1 - FB Financial Corporation announced the appointment of Michael Mettee as Chief Operating Officer and Chief Financial Officer [1] - Scott Tansil will be named Chief Business and Operations Officer, succeeding Mettee [1] - These strategic executive appointments are effective immediately [1]

That is the closing bell on Wall Street and now it's market domination overtime. We're joined by Jared Blickery to get you up to speed on the action from today's trade. Let's see where the major averages ended up here.Uh we have some green across the screen it looks like. Uh Jared, we have the Dow looks like we're going to finish up about 220 points. The S&P 500, your broad gauge of about 3/10en of a percent. Tech heheavy NASDAQ also up about 3/10en of a percent.Jared, give us a closer look at today's secto ...

Core Insights - Southern States Bancshares, Inc. reported a net income of $10.4 million, or $1.03 diluted earnings per share, for Q1 2025, a decrease from $11.2 million in Q4 2024 but an increase from $8.1 million in Q1 2024 [2][6][28] - The company is in the process of merging with FB Financial Corporation, which is expected to enhance its capabilities and customer experience [3][4] Financial Performance - Core net income for Q1 2025 was $10.3 million, or $1.03 diluted core earnings per share, compared to $10.5 million in Q4 2024 and $8.1 million in Q1 2024 [2][6] - Net interest income was $24.9 million, a decrease of 0.7% from $25.1 million in Q4 2024 but an increase of 19.4% from $20.8 million in Q1 2024 [6][7][8] - The net interest margin improved to 3.75%, up 9 basis points from Q4 2024 and 16 basis points from Q1 2024 [5][9][28] Noninterest Income and Expenses - Noninterest income for Q1 2025 was $1.7 million, a decrease of 44.7% from $3.0 million in Q4 2024 but an increase of 30.4% from $1.3 million in Q1 2024 [10][11] - Noninterest expenses decreased by 5.9% to $12.3 million from $13.1 million in Q4 2024, but increased by 18.6% from $10.4 million in Q1 2024 [12][13][14] Loans and Credit Quality - Gross loans increased to $2.3 billion, up 1.5% from Q4 2024 and 15.0% from Q1 2024, driven by new business growth and the acquisition of Century Bank [15][16] - Nonperforming loans totaled $7.2 million, or 0.32% of gross loans, an increase from $6.5 million (0.29%) in Q4 2024 and $3.4 million (0.17%) in Q1 2024 [16][19] - The provision for credit losses was $775,000 for Q1 2025, significantly higher than $72,000 in Q4 2024, reflecting loan growth and economic factors [17][18] Deposits and Capital - Total deposits were $2.4 billion, stable compared to $2.4 billion in Q4 2024 and up from $2.1 billion in Q1 2024, with a notable increase in interest-bearing deposits [20][21] - The Tier 1 capital ratio was 9.14% as of March 31, 2025, compared to 8.67% at the end of 2024, indicating improved capital strength [21][28]

Financial Performance - The company reported a net income of $39.4 million and an adjusted net income of $40.1 million for 1Q25[8,9] - Return on average assets (ROAA) was 1.21%, with an adjusted ROAA of 1.23%[8] - Diluted earnings per share were $0.84, and adjusted diluted earnings per share were $0.85[8,9] - Pre-Tax Pre-Provision Net Revenue was $51.1 million, with an adjusted figure of $52.1 million[8] Balance Sheet and Credit Quality - Loans held for investment (HFI) grew at an annualized rate of 7.14%, representing an increase of $169 million[8] - The allowance for credit losses (ACL) coverage ratio stood at 1.54%[8] - The ratio of non-performing assets to total assets decreased by 9 basis points to 0.84%[8] - Tangible Common Equity to Tangible Assets ratio was 10.5%[8] Net Interest Margin and Deposits - Net interest margin (NIM) expanded by 5 basis points to 3.55%[8] - The company experienced growth in core deposits amidst a managed runoff of higher-cost deposits[8] Merger and Acquisition - On March 31, 2025, the company announced its merger with Southern States Bancshares Inc[8]

Financial Data and Key Metrics Changes - FB Financial reported EPS of 84 cents and adjusted EPS of 85 cents for Q1 2025, with a tangible book value per share growth at a compound annual growth rate of 12.8% since its IPO in 2016 [14][15] - Pre-tax pre-provision net revenue was $51.1 million, or $52.2 million on an adjusted basis, with net interest income of $107.6 million and non-interest income of $23 million for the quarter [23][24] - The net interest margin increased by five basis points to 3.55%, while the cost of total interest-bearing deposits decreased by 24 basis points [25][26] Business Line Data and Key Metrics Changes - Loan balances grew by $169 million at an annualized rate of 7.14%, primarily in commercial and industrial (CNI) and owner-occupied commercial real estate (CRE) [15][16] - Non-interest income remained relatively flat at $23 million, with mortgage banking income up by approximately $1.8 million due to lower market interest rates [28] Market Data and Key Metrics Changes - The company operates as a regional bank across five states in the Southeast, focusing on customer service and community engagement during economic uncertainty [20] - Economic uncertainty has increased, but the company believes it presents opportunities for disciplined and prepared organizations [21] Company Strategy and Development Direction - The planned combination with Southern States Bank is expected to close in Q3 2025, with a strong conviction in the cultural fit and market opportunity of the merger [13][14] - The company aims to balance growth through organic means while integrating the Southern States transaction, emphasizing the strength of its operating foundation [17] Management's Comments on Operating Environment and Future Outlook - Management noted that economic uncertainty is rising, but the company's mission remains unchanged, focusing on serving customers and communities [19][20] - The company is prepared for various economic environments, with a strong capital position and a focus on understanding customer needs during uncertain times [21][22] Other Important Information - The allowance for credit loss balance decreased to $151 million, with an annualized net charge-off rate of 0.14% driven by credit in the C&I portfolio [31] - The company maintains strong capital ratios, including a tangible common equity to total assets ratio of 10.5% and a preliminary common equity tier one ratio of 12.8% [32] Q&A Session Summary Question: Loan growth trends and customer sentiment - Management noted some reticence about major projects at a macro level, but pipelines remain robust with an outlook for high single to low double-digit growth [40][41] Question: Performance in new markets like Asheville and Tuscaloosa - Both markets are showing positive momentum, with strong starts in Tuscaloosa and improving conditions in Asheville [43][44] Question: Stock buyback strategy - The company has $73 million remaining on its stock buyback authorization and will consider buying back shares if they believe the stock is undervalued [51] Question: Balance sheet growth expectations - The company anticipates stronger balance sheet growth in Q2, driven by core customer deposits and managing higher-cost deposits [64][65] Question: Construction commitments and risks - The company is monitoring its construction commitments closely, particularly in Nashville, but maintains a healthy concentration ratio [70] Question: Charge-off expectations and credit quality - Management expects charge-offs to be lower than historical levels, with concerns primarily in the C&I portfolio rather than real estate [92][94] Question: Expense growth and efficiency - The company anticipates a slight increase in expenses due to higher compensation-related costs but expects to stabilize in the latter half of the year [109][111]

Financial Performance - FB Financial reported revenue of $130.67 million for the quarter ended March 2025, representing a 21.6% increase year-over-year [1] - The earnings per share (EPS) remained stable at $0.85, unchanged from the same quarter last year [1] - The reported revenue was slightly below the Zacks Consensus Estimate of $132.69 million, resulting in a revenue surprise of -1.52% [1] Key Metrics - Efficiency Ratio was reported at 60.9%, higher than the three-analyst average estimate of 57.3% [4] - Net Interest Margin matched the estimated 3.6% [4] - Average Earning Assets were $12.39 billion, aligning with the two-analyst average estimate [4] - Net Charge-offs during the period to Average Loans outstanding were 0.1%, consistent with the two-analyst average estimate [4] - Mortgage banking income was $12.43 million, exceeding the three-analyst average estimate of $10.66 million [4] - Total Noninterest income reached $23.03 million, surpassing the three-analyst average estimate of $22.81 million [4] - Net interest income (tax-equivalent basis) was $108.43 million, slightly below the $109.51 million average estimate [4] - Other Income was reported at $1.35 million, lower than the two-analyst average estimate of $2.51 million [4] - Service charges on deposit accounts were $3.48 million, compared to the $3.40 million average estimate [4] - Net Interest Income was $107.64 million, below the two-analyst average estimate of $109.79 million [4] - ATM and interchange fees were $2.68 million, lower than the two-analyst average estimate of $2.86 million [4] - Investment services and trust income was $3.71 million, slightly above the two-analyst average estimate of $3.70 million [4] Stock Performance - FB Financial shares have returned -12.6% over the past month, compared to the Zacks S&P 500 composite's -3.6% change [3] - The stock currently holds a Zacks Rank 1 (Strong Buy), indicating potential for outperformance in the near term [3]