网上正规网投实体 Parent Looking for More M&A

网上正规网投实体 parent looking for more M&A

CEO Holmes says team looking to prune some loans ahead of downturn

作者 Geert De Lombaerde

The leaders of 网上正规网投实体 parent company FB Financial said this week they hope to be able to finalize a few acquisition deals before year’s end and build on the successful purchases of 网上正规网投实体 $1.8 billon in assets in the past four years.

President and CEO Chris Holmes told analysts and investors this week his team is “actively speaking to a few” banks’ leaders and hinted they are either in 网上正规网投实体’s existing markets or in contiguous areas. Holmes and his team early this year bulked up by paying 网上正规网投实体 $38 million for 14 Atlantic Capital branches in East Tennessee and North Georgia, filling out 网上正规网投实体’s presence in those market.

“We’re seeing more opportunities than ever before,福尔摩斯说, adding that the higher-quality lenders he’s eyeing will demand an appropriate price and would need to include an amount of cash that could dilute FB’s tangible book value.

Holmes and CFO James Gordon discussed FB’s prospects and outlook on a conference call this week following the release of the company’s second-quarter results. Those showed an adjusted profit of $22.1 million, down slightly from last year’s second quarter, that was weighed down by $4.6 million of one-time expenses related to the Atlantic Capital acquisition as well as the sale of parts of 网上正规网投实体’s mortgage group. The company’s net interest margin skipped to 4.39 percent in the quarter versus 4.81 percent in the same period of 2018.

在电话里, Holmes and Gordon also said that, keeping an eye on the horizon, they will look to prune their loan portfolio of companies that could struggle when the economy turns south. They don’t have a dollar target or specific industries in mind, but Holmes said the trimming could reduce FB’s loan growth — which was 14 percent on an annualized basis in the first six months of the year — to the low end of the company’s long-term range of 10 percent to 12 percent.

Shares of FB (Ticker: 球风硬朗)上升了2个百分点.2 percent Wednesday afternoon to $38.01. Year to date, they have risen almost 10 percent.