NASHVILLE, Tenn.--(BUSINESS WIRE)--FB Financial Corporation (the “Company”) (NYSE: FBK), parent company of FirstBank, reported net income of $37.9 million, or $0.81 per diluted common share, for the fourth quarter of 2024, compared to $0.22 in the previous quarter and $0.63 in the fourth quarter of last year. Adjusted net income* was $39.8 million, or $0.85 per diluted common share, compared to $0.86 in the previous quarter and $0.77 in the fourth quarter of last year.

The Company ended the fourth quarter with loans held for investment (“HFI”) of $9.60 billion compared to $9.48 billion at the end of the previous quarter, a 5.22% annualized increase, and $9.41 billion at the end of the fourth quarter of last year, a 2.06% increase. Deposits were $11.21 billion as of December 31, 2024, compared to $10.98 billion as of September 30, 2024, an 8.49% annualized increase, and $10.55 billion as of December 31, 2023, a 6.28% increase. Net interest margin (“NIM”) was 3.50% for the fourth quarter of 2024, compared to 3.55% in the prior quarter and 3.46% in the fourth quarter of 2023. The Company ended the quarter with book value per common share of $33.59 and tangible book value per common share* of $28.27.

President and Chief Executive Officer, Christopher T. Holmes stated, “The Company continued producing both deposit and loan growth during the quarter, resulting in increased net interest income. The growth came with an improved GAAP return on average assets of 1.14% and an adjusted pre-tax, pre-provision return on average assets* of 1.80%. Our strong financial position and operating momentum position us well moving into 2025.”