News about FB Financial

FB Financial (NYSE: FBK) shares fell more than 4% on the day it reported third-quarter results, while the S&P 500 was roughly flat. Total revenue was $174.5 million, up only slightly from $173.9 million a year earlier, even though deposits rose almost 9% to $14.7 billion and loans grew just under 10% to $13.2 billion. Non-GAAP net income rose nearly 6% to $60.9 million, or $1.21 per share, matching the analyst consensus for earnings, but revenue fell short of the $181.6 million analysts had modeled. The company cited weaker mortgage banking profitability and continued investment in growth initiatives. The article says investors want those initiatives to show up in revenue and earnings.