FB Financial says 'on track' to close Atlantic Capital branch acquisition in 2Q
President and CEO, Christopher Holmes stated, "We continued to see strong balance sheet growth during the quarter with annualized loan growth of 14.5% and customer deposit growth of 5.1%. For the year, our loan growth and customer deposit growth were very strong at 15.8% and 13.7%, respectively. Our team continues to deliver outstanding organic growth balanced with solid profitability. Our net interest margin of 4.50% contracted during the quarter, as expected, but continues to be near the top of our peers. Our returns on assets and tangible equity were less than recent quarters, primarily due to our previously signaled mortgage results, but we are proud of our annual results and have a great foundation heading into 2019." Holmes continued, "Additionally, we announced the Atlantic Capital branch acquisition during the quarter which will add approximately $600 million in deposits and $400 million in loans. We are on track to close early in the second quarter of 2019 and continue to be excited about the customers and teams we are adding in Chattanooga and Knoxville, Tennessee as well as Dalton, Georgia."