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MarketScreener Homepage  >  Equities  >  Nyse  >  FB Financial Corporation    FBK

FB FINANCIAL CORPORATION

(FBK)
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FB FINANCIAL CORP : Other Events (form 8-K)

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02/19/2020 | 12:59pm EDT

Item 8.01. Other Events.

On February 18, 2020, FB Financial Corporation ("FB Financial") issued a press release announcing that, effective as of February 14, 2020 (the "Effective Date"), FB Financial completed its acquisition of FNB Financial Corp., a Kentucky corporation ("FNB"), in accordance with the previously announced Agreement and Plan of Merger, dated September 17, 2019, pursuant to which (i) FNB merged with and into FB Financial, with FB Financial surviving, and, immediately thereafter, (ii) The Farmers National Bank of Scottsville, a national bank and wholly owned subsidiary of FNB, merged with and into FirstBank, a Tennessee-chartered commercial bank and wholly owned subsidiary of FB Financial, with FirstBank surviving (collectively, the "Merger").

In connection with the Merger, FB Financial issued 954,827 shares of its common stock as stock consideration and $15 million in cash consideration (the "Cash Consideration") to the former shareholders of FNB. FB Financial funded the Cash Consideration with the proceeds of a $20 million note and credit agreement executed prior to and in connection with the closing of the Merger.

A copy of the press release announcing the closing of the Merger is attached as Exhibit 99.1 to this Current Report on Form 8-K (this "Report") and is incorporated herein by reference in its entirety.

© Edgar Online, source Glimpses

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Financials (USD)
Sales 2020 443 M
EBIT 2020 153 M
Net income 2020 35,2 M
Debt 2020 -
Yield 2020 1,38%
P/E ratio 2020 27,3x
P/E ratio 2021 11,7x
Capi. / Sales2020 1,81x
Capi. / Sales2021 1,64x
Capitalization 800 M
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Mean consensus OUTPERFORM
Number of Analysts 7
Average target price 25,25 $
Last Close Price 24,94 $
Spread / Highest target 20,3%
Spread / Average Target 1,24%
Spread / Lowest Target -25,8%
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Managers
NameTitle
Christopher T. Holmes President, Chief Executive Officer & Director
James W. Ayers Executive Chairman
Michael M. Mettee Chief Financial Officer
Orrin H. Ingram Independent Director
William F. Andrews Independent Director
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