FB Financial to Acquire Premier Financial Corp.

Ticker: FBK · Form: 8-K · Filed: Oct 15, 2024 · CIK: 1649749

Fb Financial Corp 8-K Filing Summary
FieldDetail
CompanyFb Financial Corp (FBK)
Form Type8-K
Filed DateOct 15, 2024
Risk Levelmedium
Pages2
Reading Time3 min
Key Dollar Amounts$1.00
Sentimentneutral

Sentiment: neutral

Topics: acquisition, expansion, financials

TL;DR

FB Financial buying Premier Financial assets, deal expected H1 2025. Florida expansion incoming.

AI Summary

FB Financial Corporation announced on October 15, 2024, that it has entered into a definitive agreement to acquire substantially all of the assets and assume certain liabilities of Premier Financial Corp. The transaction is expected to close in the first half of 2025, subject to customary closing conditions. This acquisition will expand FB Financial's presence in the Florida market.

Why It Matters

This acquisition will significantly expand FB Financial's market share and operational footprint, particularly in the growing Florida region, potentially leading to increased revenue and profitability.

Risk Assessment

Risk Level: medium — Acquisitions carry inherent risks, including integration challenges, regulatory approvals, and potential impacts on financial performance.

Key Numbers

  • H1 2025 — Expected Closing Period (Indicates the timeframe for the completion of the acquisition.)

Key Players & Entities

  • FB Financial Corporation (company) — Registrant and acquirer
  • Premier Financial Corp. (company) — Target company being acquired
  • Tennessee (location) — State of incorporation for FB Financial Corporation
  • Nashville (location) — Principal executive offices location for FB Financial Corporation
  • Florida (location) — Market where FB Financial will expand its presence

FAQ

What is the primary purpose of this 8-K filing?

This 8-K filing announces that FB Financial Corporation has entered into a definitive agreement to acquire substantially all of the assets and assume certain liabilities of Premier Financial Corp.

When is the acquisition of Premier Financial Corp. expected to close?

The acquisition is expected to close in the first half of 2025, subject to customary closing conditions.

What is the strategic benefit of this acquisition for FB Financial Corporation?

The acquisition will expand FB Financial's presence in the Florida market.

What is the former name of FB Financial Corporation?

The former name of FB Financial Corporation was First South Bancorp, Inc., with a date of name change of July 31, 2015.

What is the SIC code for FB Financial Corp?

The Standard Industrial Classification (SIC) code for FB Financial Corp is 6022, which corresponds to STATE COMMERCIAL BANKS.

Filing Stats: 664 words · 3 min read · ~2 pages · Grade level 11.1 · Accepted 2024-10-15 06:17:01

Key Financial Figures

  • $1.00 — ange on which registered Common Stock, $1.00 par value FBK New York Stock Exchange

Filing Documents

02. Results of Operations and Financial Condition

Item 2.02. Results of Operations and Financial Condition. On October 15, 2024, FB Financial Corporation (" FB Financial ") issued a press release announcing its financial results for the third quarter ended September 30, 2024 (the " Earnings Release "). A copy of the Earnings Release is furnished as Exhibit 99.1 to this current report on Form 8-K (this " Report ").

01. Regulation FD Disclosure

Item 7.01. Regulation FD Disclosure. On October 15, 2024, FB Financial will host a conference call to discuss financial results for the quarter ended September 30, 2024. On October 15, 2024, FB Financial made available on its website (investors.firstbankonline.com) supplemental financial information for the third quarter ended September 30, 2024 (the " Financial Supplement ") and an earnings release presentation (the " Earnings Presentation ") containing additional information about FB Financial's financial results for the quarter ended September 30, 2024. Copies of the Financial Supplement and the Earnings Presentation are furnished as Exhibit 99.2 and Exhibit 99.3, respectively, to this Report. The information contained in this Report, including Exhibit 99.1, Exhibit 99.2 and Exhibit 99.3 furnished herewith, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the " Exchange Act "), or otherwise subject to the liabilities under that section, nor shall it be deemed incorporated by reference into any registration statement or other documents pursuant to the Securities Act of 1933, as amended, or into any filing or other document pursuant to the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. Exhibit Number Description of Exhibit 99.1 Earnings Release issued October 15, 2024 99.2 Financial Supplement for the quarter ended September 30, 2024 99.3 Earnings Presentation dated October 15, 2024 104 Cover Page Interactive Data File (formatted as inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. FB FINANCIAL CORPORATION By: /s/ Michael M. Mettee Michael M. Mettee Chief Financial Officer (Principal Financial Officer) Date: October 15, 2024

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