FINANCIAL FB: Management report and analysis of the financial situation and operating results (form 10-Q)

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The following is a discussion of our financial condition at June 30, 2021 and
December 31, 2020, and our results of operations for the three and six months
ended June 30, 2021 and 2020, and should be read in conjunction with our audited
consolidated financial statements set forth in our Annual Report on Form 10-K
for the year ended December 31, 2020, that was filed with the Securities and
Exchange Commission on March 12, 2021 (our "Annual Report"), and with the
accompanying unaudited notes to the consolidated financial statements set forth
in this Quarterly Report on Form 10-Q for the quarterly period ended June 30,
2021 (this "Report").
Forward-looking statements
This quarterly report contains certain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements include, without limitation, statements regarding the
projected impact of the COVID-19 global pandemic on our business operations,
statements relating to the benefits, costs, and synergies of the merger with
Franklin Financial Network, Inc. ("Franklin") (the "merger"), and FB Financial's
future plans, results, strategies, and expectations.
These statements can generally be identified by the use of the words and phrases
"may," "will," "should," "could," "would," "goal," "plan," "potential,"
"estimate," "project," "believe," "intend," "anticipate," "expect," "target,"
"aim," "predict," "continue," "seek," "projection," and other variations of such
words and phrases and similar expressions. These forward-looking statements are
not historical facts, and are based upon management's current expectations,
estimates, and projections, many of which, by their nature, are inherently
uncertain and beyond FB Financial's control. The inclusion of these
forward-looking statements should not be regarded as a representation by FB
Financial or any other person that such expectations, estimates, and projections
will be achieved. Accordingly, FB Financial cautions shareholders and investors
that any such forward-looking statements are not guarantees of future
performance and are subject to risks, assumptions, and uncertainties that are
difficult to predict. Actual results may prove to be materially different from
the results expressed or implied by the forward-looking statements. A number of
factors could cause actual results to differ materially from those contemplated
by the forward-looking statements including, without limitation, (1) current and
future economic conditions, including the effects of inflation, interest rate
fluctuations, changes in the economy or supply-demand imbalances affecting local
real estate prices, and high unemployment rates in the local or regional
economies in which we operate and/or the US economy generally, (2) the effects
of the COVID-19 pandemic, including the magnitude and duration of the pandemic
and its impact on the economy, financial markets, and on our business and our
customers' business, results of operations, asset quality and financial
condition, as well as the efficacy, distribution, and public adoption of
vaccines and the impact of the Delta variant of the coronavirus or the emergence
of other new variants of the coronavirus, (3) changes in government interest
rate policies and its impact on our business, net interest margin, and mortgage
operations, (4) our ability to effectively manage problem credits, (5) the risk
that the cost savings and any revenue synergies from the merger or another
acquisition may not be realized or may take longer than anticipated to be
realized, (6) the ability of FB Financial to effectively integrate and manage
the larger and more complex operations of the combined company following the
merger, (7) FB Financial's ability to successfully execute its various business
strategies, (8) the impact of the recent change in the U.S. presidential
administration and Congress and any resulting impact on economic policy, capital
markets, federal regulation, and the response to the COVD-19 pandemic; (8) the
potential impact of the proposed phase-out of the LIBOR or other changes
involving LIBOR (9) the effectiveness of our cyber security controls and
procedures to prevent and mitigate attempted intrusions; (10) the Company's
dependence on information technology systems of third party service providers
and the risk of systems failures, interruptions, or breaches of security, (11)
general competitive, economic, political, and market conditions. Further
information regarding FB Financial and factors which could affect the
forward-looking statements contained herein can be found in FB Financial's
Annual Report on Form 10-K for the fiscal year ended December 31, 2020, and in
any of FB Financial's subsequent filings with the Securities and Exchange
Commission (the "SEC"). Many of these factors are beyond FB Financial's ability
to control or predict. If one or more events related to these or other risks or
uncertainties materialize, or if the underlying assumptions prove to be
incorrect, actual results may differ materially from the forward-looking
statements. Accordingly, shareholders and investors should not place undue
reliance on any such forward-looking statements. Any forward-looking statement
speaks only as of the date of this filing, and FB Financial undertakes no
obligation to publicly update or review any forward-looking statement, whether
as a result of new information, future developments or otherwise, except as
required by law. New risks and uncertainties may emerge from time to time, and
it is not possible for FB Financial to predict their occurrence or how they will
affect the company.

Financial FB These cautionary statements qualify all forward-looking statements.

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Critical accounting policies Our financial statements are prepared in accordance with we generally accepted accounting principles and general practices in the banking sector. In our financial statements, certain financial information contains approximate estimates of the financial effects of transactions and of the impacts at the dates of the Consolidated Balance Sheets and of our results of operations for the reporting periods. We monitor the state of proposed and newly issued accounting standards to assess their impact on our financial condition and results of operations. Our accounting policies, including the impact of any new accounting standards, are discussed in more detail in Note 1, “Basis of presentation”, in the notes to our consolidated financial statements in this report. Selected historical consolidated financial data

The following table presents selected historical consolidated financial data on the dates or for the periods indicated:

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