Christopher T. Holmes
About Christopher T. Holmes
Christopher T. Holmes (age 61) is President and Chief Executive Officer of FB Financial Corporation and FirstBank and has served as a director since 2010. He became President in 2012 and CEO in 2013, and serves on the Board’s Credit Risk Committee. Holmes previously led corporate financial services and retail banking at The South Financial Group and worked as a CPA with Ernst & Young before holding management roles at National Bank of Commerce and Trustmark National Bank; he holds an inactive CPA certification. Under his leadership, assets grew from roughly $2 billion at IPO to $12.8 billion, reflecting substantial franchise expansion . Pay-versus-performance disclosures show CEO total compensation alongside company results, with FBK net income of $63.6M (2020), $190.3M (2021), and $124.6M (2022) and adjusted EPS of $3.73, $3.78, and $2.91, respectively .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| The South Financial Group | Director of Corporate Financial Services; Chief Retail Banking Officer | — | Led mortgage, insurance, SBA, retail strategy/sales, and oversight of 180-branch network |
| National Bank of Commerce (SunTrust acq.) and Trustmark National Bank (holding co. roles) | Management positions | ~20 years in Memphis market | Provided metro/community market operating experience |
| Ernst & Young | Certified Public Accountant | — | Financial reporting and audit foundation; CPA (inactive) |
External Roles
| Organization | Role | Notes |
|---|---|---|
| Delta Dental of Middle Tennessee | Director | Community health leadership |
| Nashville Area Chamber of Commerce | Director; Partnership 2030 cabinet member | Regional economic strategy |
| Pinson Hospital Hospitality House | Director | Non-profit governance |
| Tennessee Bankers Association | Director | Industry leadership |
| Tennessee Business Leaders Council | Board member | Policy engagement to improve business climate |
| YMCA of Middle Tennessee | Finance Committee member | Financial oversight |
Fixed Compensation
| Metric (USD) | 2019 | 2020 |
|---|---|---|
| Base Salary | $477,500 | $535,583 |
| Stock Awards (grant-date fair value) | $600,031 | $969,993 |
| Non-Equity Incentive Plan Compensation (Cash bonus paid) | $819,000 | $1,088,000 |
| All Other Compensation | $31,938 | $41,720 |
| Total Compensation | $1,928,469 | $2,635,297 |
Performance Compensation
- Annual incentive plan (2020):
- Metric: Adjusted EPS; Target: $3.01; Actual: $3.73; CEO target bonus opportunity: $725,000; Actual payout: $1,088,000 .
- Long-term equity (2020 grants):
- Time-based RSUs: grant-date fair value $484,997; Performance Share Units (PSUs): grant-date fair value $484,997 (max value at 200%: $969,993) .
| Incentive | Metric | Target | Actual | Payout/Value | Notes |
|---|---|---|---|---|---|
| 2020 Cash AIP | Adjusted EPS | $3.01 | $3.73 | $1,088,000 | CEO target bonus set at $725,000 |
| 2020 RSUs | Time-based | — | — | $484,997 (grant-date FV) | |
| 2020 PSUs | Performance | — | — | $484,997 (grant-date FV) | Max-value disclosure at 200%: $969,993 |
Pay vs Performance (context)
| Metric | 2020 | 2021 | 2022 |
|---|---|---|---|
| CEO Summary Compensation Table Total ($) | $2,635,296 | $2,682,882 | $2,040,082 |
| CEO Compensation Actually Paid ($) | $2,291,423 | $3,315,307 | $1,195,017 |
| Total Shareholder Return (Value of $100) | 89 | 113 | 95 |
| Net Income ($) | $63,621,000 | $190,285,000 | $124,555,000 |
| Adjusted EPS ($) | $3.73 | $3.78 | $2.91 |
Equity Ownership & Alignment
- Holmes has historically held substantial equity, including fully vested Deferred Stock Units (DSUs) that were to be settled in common shares at a specified date/trigger .
- Beneficial ownership (selected years):
| As of | Shares Beneficially Owned |
|---|---|
| Mar 16, 2017 | 294,061 (includes 157,895 fully vested DSUs) |
| Mar 26, 2018 | 350,190 (includes 157,895 fully vested DSUs) |
| Mar 25, 2019 | 368,071 (includes 157,895 fully vested DSUs) |
| Mar 5, 2021 | 367,114 |
Note: The filings cited did not disclose any pledging by Holmes; no pledging statements were found in the excerpts reviewed.
Employment Terms
- Joined FirstBank in 2010 as Chief Banking Officer; named President in 2012 and CEO in 2013; currently serves as CEO and director of both FB Financial and FirstBank .
- Board service: Director since 2010; serves on the Credit Risk Committee .
- Governance/dual-role implications: Holmes is CEO but not Chairman. The Board’s Chair is William F. Carpenter III, providing separation of CEO/Chair roles and mitigating concentration of authority .
Board Governance
- Committee membership: Credit Risk Committee (member) .
- Independence: As CEO, Holmes is not an independent director; the Board maintains an independent Chair (William F. Carpenter III) .
Investment Implications
- Strong operational tenure and asset growth: Assets expanded from ~$2B at IPO to $12.8B under Holmes’ leadership, supporting a track record of franchise growth .
- Pay-for-performance linkage: 2020 bonus was explicitly tied to adjusted EPS with a disclosed target/achievement, and equity mix includes PSUs and RSUs, indicating alignment with shareholder outcomes .
- Governance structure: Separation of CEO and Chair roles and Holmes’ service on the Credit Risk Committee support risk oversight and reduce governance concentration risk .
- Ownership alignment: Consistent beneficial ownership levels (including prior DSUs) indicate skin-in-the-game; no evidence of share pledging found in reviewed disclosures .