FB Financial Corporation (NYSE:FBK) Q3 2023 Earnings Call Transcript

Chris Holmes: And importantly there, we don’t do any SNCs without some compelling — we don’t do SNCs for growth. We only enter a SNC because we’ve got some clients that — or some relationship that gets us into the SNC. And so — and I’ll give you a couple of examples, two specific examples without using names. One, significant client here in our footprint, we have — we know the owners of the company. We know the officers of the company. And they said, we really want you in our credit. And so we got — we’re in the credit because it’s a major name that everybody would know in our geography. Second one, a company that we banked from the start-up of the company until they became a publicly traded company. We still have the bulk of their deposits, including their operating account, but their line of credit now is over $1 billion.

We don’t lead it. We still — we have part of the SNC. Those would be two examples. And so, we — it’s only those kinds of — that we get into. We don’t just put SNCs on for — we generally are SNC adverse is the way I would put it. When we do it, it’s because we have some compelling reason that says we need to do this.

Operator: This concludes our question-and-answer session. I would like to turn the conference back over to Chris Holmes for any closing remarks.

Chris Holmes: Okay. Thanks, everybody. We really appreciate, again, your interest in the company. We appreciate everybody’s questions and answers today. And if we have things that need clarification, we’re glad to get on the phone with anybody that we need to. So, don’t hesitate to reach out. Everybody, have a great rest of your day, and you analysts have a great rest of your earnings season.

Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.