Franklin Financial's Restructuring Work Pays Off With A Good Buyout Offer [Seeking Alpha]
FB Financial Corporation (FBK)
Last fb financial corporation earnings: 4/27 04:15 pm
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US:NYSE Investor Relations:
investors.firstbankonline.com
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Source: Seeking Alpha
Summary Franklin announced in conjunction with fourth quarter earnings that it had accepted a stock-and-cash buyout deal from FB Financial. Franklin's fourth quarter results were a little weak at the pre-provision profit line, but management has made significant progress in restructuring the balance sheet away from SNCs and expensive funding. At current prices, FB Financial is paying about 1.4x tangible book for Franklin, a more than fair price that rewards Franklin for improvement efforts underway and its strong Nashville business. Franklin shareholders don't need to be in a rush to sell, but there are arguably better growth/GARP stories than FB Financial. In doing some prep work ahead of earnings, I’d flagged Franklin Financial Network FSB FBK I think Franklin Financial shareholders are getting a pretty good deal here. Even though FB Financial shares have sold off a bit, the approximately $38/share effective deal price as of this writing is about 1.4x tangible book value – a small p
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FBK
News
- FB Financial (FBK) Reports Q1 Earnings: What Key Metrics Have to Say [Yahoo! Finance]Yahoo! Finance
- FB Financial Corporation Reports First Quarter 2024 Financial Results [Yahoo! Finance]Yahoo! Finance
- FB Financial Corporation Reports First Quarter 2024 Financial ResultsBusiness Wire
- FB Financial (FBK) Q1 Earnings on the Horizon: Analysts' Insights on Key Performance Measures [Yahoo! Finance]Yahoo! Finance
- Longmont-area real estate, commercial deals, April 7, 2024 [Yahoo! Finance]Yahoo! Finance
FBK
Earnings
- 4/15/24 - Beat
FBK
Sec Filings
- 4/15/24 - Form 8-K
- 4/9/24 - Form 3
- 4/8/24 - Form ARS
- FBK's page on the SEC website