The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Russell Gunther - Stephens Inc. - Analyst
: Hey, good morning, guys.
Question: Russell Gunther - Stephens Inc. - Analyst
: Just a big picture question to start, just looking at the press release, you guys mentioned the optimism for '25 given the current momentum and
also the expected future rate decreases. So just big picture to walk us through how lower rates are an earnings growth catalyst for FBK?
Question: Russell Gunther - Stephens Inc. - Analyst
: I appreciate that. So what I was looking forward. Thank you. And then just perhaps a little more specific on the margin guidance. So the 3.50% to
3.60% in 4Q and then kind of flat from there, can you -- and it sounds like that's what sort of a measured pace of cuts.
Can you walk us through what you guys are thinking about for deposit betas on the way down? You mentioned the amount of index which is a
healthy amount. But what are you guys assuming from a deposit beta perspective on the way down and sort of when you get there, can you retrace
the up betas or it's a win?
Question: Russell Gunther - Stephens Inc. - Analyst
: Great. I appreciate it. Thank you both for taking my questions.
Question: Catherine Mealor - Keefe, Bruyette & Woods, Inc. - Analyst
: Thanks. Good morning.
Question: Catherine Mealor - Keefe, Bruyette & Woods, Inc. - Analyst
: One follow-up just within the margin. Just to end any question. As we think about bond yields in the fourth quarter just to fully reflect the restructuring
you did, where do you end the quarter for the whole portfolio?
Question: Catherine Mealor - Keefe, Bruyette & Woods, Inc. - Analyst
: Okay, perfect. And then on loan yields, you give us with the amount of fixed versus floating versus the fixed rate repricing. There's a lot of moving
parts within that too and so just kind of curious your thoughts on loan yield, maybe just over the next couple of quarters, how much of the downside
you see to that? And just any commentary on what has happened so far with new loan production just given the rate cut that we've already seen.
Question: Catherine Mealor - Keefe, Bruyette & Woods, Inc. - Analyst
: Okay, great. And then a follow up on credit, we saw one of your peers sold their manufactured housing book. Just any commentary from you on
how your book looks, any kind of credit concerns you're seeing in manufactured housing?
Question: Catherine Mealor - Keefe, Bruyette & Woods, Inc. - Analyst
: Okay, great. Very helpful. Thank you.
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OCTOBER 15, 2024 / 3:00PM, FBK.N - Q3 2024 FB Financial Corp Earnings Call
Question: Steve Moss - Raymond James Ltd - Analyst
: Hi, good morning.
Question: Steve Moss - Raymond James Ltd - Analyst
: Maybe just starting off on the -- Morning, Chris. Maybe just starting off on the loan growth here. Just a little more color on what were the drivers
of C&I loan growth this quarter. And maybe take that a step further just how as you think about definitely more constructive on the low growth
outlook going forward. Where do you see those drivers in the upcoming year?
Question: Steve Moss - Raymond James Ltd - Analyst
: Okay, great. And just in terms of your commercial estate and construction concentrations are way down from where they were 12 or 18 months
ago. Curious here, is this -- do you think this is the bottom for the decline in those ratios? And just how do we think about those portfolios?
Question: Steve Moss - Raymond James Ltd - Analyst
: Okay. Appreciate that. And then just in terms of capital deployment, obviously, organic growth is first. I hear you on M&A being second, just kind
of curious, Chris, if discussions have picked up here in the last couple of months or has there been any change in your opinion with activity there?
Question: Russell Gunther - Stephens Inc. - Analyst
: Hey, thanks for the follow up guys. On the asset quality commentary, appreciate the color that you guys gave. Last quarter you mentioned you
were seeing more inflows than outflows into the adversely classified loan buckets. So one, wondering if that was still the case again in 3Q and two,
as you guys contemplate further rate cuts, how do you anticipate the inflow/outflow of puts intake?
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OCTOBER 15, 2024 / 3:00PM, FBK.N - Q3 2024 FB Financial Corp Earnings Call
Question: Russell Gunther - Stephens Inc. - Analyst
: I appreciate all the color, guys. Really helpful. Thanks for the follow up.
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