FBK 8-K

FB Financial Corp (FBK)

8-K 2026-07-13 For: 2026-07-13

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Added on July 13, 2026

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Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, $1.00 par value	FBK	New York Stock Exchange


Exhibit Number						Description of Exhibit
99.1						Earnings Release issued July 13, 2026
99.2						Financial Supplement for the quarter ended June 30, 2026
99.3						Earnings Presentation dated July 14, 2026
104						Cover Page Interactive Data File (formatted as inline XBRL document)


	FB FINANCIAL CORPORATION


	By:	/s/ Michael M. Mettee
		Michael M. Mettee
		Chief Financial Officer & Chief Operating Officer
		(Principal Financial Officer)
Date: July 13, 2026


										Annualized
(dollars in thousands, except per share data)	Jun 2026			Mar 2026			Jun 2025			Jun 26 / Mar 26 % Change		Jun 26 / Jun 25 % Change
Balance Sheet Highlights
Investment securities, at fair value	$	1,527,093		$	1,498,547		$	1,337,565		7.64	%	14.2	%
Loans held for sale	198,089			231,359			144,212			(57.7)	%	37.4	%

Loans HFI	12,865,510			12,503,815			9,874,282			11.6	%	30.3	%

Allowance for credit losses on loans HFI	(194,010)			(186,324)			(148,948)			16.5	%	30.3	%
Total assets	16,796,101			16,468,439			13,354,238			7.98	%	25.8	%

Interest-bearing deposits (non-brokered)	10,886,056			10,838,139			8,692,848			1.77	%	25.2	%
Brokered deposits	685,902			574,216			518,719			78.0	%	32.2	%
Noninterest-bearing deposits	2,775,208			2,664,480			2,191,903			16.7	%	26.6	%



Total deposits	14,347,166			14,076,835			11,403,470			7.70	%	25.8	%

Borrowings	314,513			213,188			164,485			190.6	%	91.2	%
Allowance for credit losses on unfunded commitments	15,859			15,398			12,932			12.0	%	22.6	%
Total common shareholders’ equity	1,936,531			1,973,873			1,611,130			(7.59)	%	20.2	%
Book value per common share	$	38.75		$	38.39		$	35.17		3.76	%	10.2	%
Tangible book value per common share*	$	31.19		$	31.00		$	29.78		2.46	%	4.73	%

Total common shareholders’ equity to total assets	11.5		%	12.0		%	12.1		%
Tangible common equity to tangible assets*	9.49		%	9.91		%	10.4		%

*This represents a non-GAAP financial measure; A reconciliation of non-GAAP measures to the most directly comparable GAAP measure is included in the Company’s Second Quarter 2026 Financial Supplement as Exhibit 99.2 to the Company’s Current Report on Form 8-K furnished to the SEC on July 13, 2026 and is also available at https://investors.firstbankonline.com.


	Three Months Ended
(dollars in thousands, except per share data)	Jun 2026			Mar 2026			Jun 2025
Statement of Income Highlights
Net interest income	$	148,972		$	145,965		$	111,415
NIM (tax-equivalent basis)	3.95		%	3.94		%	3.68		%



Noninterest income (loss)	$	25,780		$	26,375		$	(34,552)

Gain (loss) from securities, net	$	—		$	1		$	(60,549)
(Loss) gain on sales or write-downs of premises and equipment, other real estate owned and other assets, net	$	(377)		$	(320)		$	236
Cash life insurance benefit	$	—		$	763		$	—
Total revenue	$	174,752		$	172,340		$	76,863
Noninterest expense	$	91,480		$	95,164		$	81,261



(Gain) loss on lease terminations and other branch closure costs	$	(42)		$	5		$	—


Merger and integration costs	$	—		$	1,447		$	2,734
Efficiency ratio	52.3		%	55.2		%	105.7		%
Adjusted efficiency ratio*	52.0		%	54.3		%	56.9		%





Pre-tax pre-provision net revenue	$	83,272		$	77,176		$	(4,398)
Adjusted pre-tax pre-provision net revenue*	$	83,607		$	78,184		$	58,649
Provisions for credit losses	$	10,116		$	3,024		$	5,337
Net charge-offs ratio	0.06		%	0.11		%	0.02		%
Net income applicable to FB Financial Corporation	$	58,649		$	57,526		$	2,909
Diluted earnings per common share	$	1.13		$	1.10		$	0.06
Effective tax rate	19.8		%	22.4		%	130.0		%
Adjusted net income*	$	58,905		$	58,271		$	40,821
Adjusted diluted earnings per common share*	$	1.14		$	1.12		$	0.88


Weighted average number of shares outstanding - fully diluted	51,693,688			52,203,469			46,179,090

Returns on average:

Return on average total assets (“ROAA”)	1.44		%	1.43		%	0.09		%
Adjusted*	1.45		%	1.45		%	1.26		%
Return on average shareholders’ equity	11.8		%	11.9		%	0.74		%

Return on average tangible common equity (“ROATCE”)*	14.6		%	14.7		%	0.87		%
Adjusted*	15.0		%	15.3		%	12.4		%




*This represents a non-GAAP financial measure; A reconciliation of non-GAAP measures to the most directly comparable GAAP measure is included in the Company’s Second Quarter 2026 Financial Supplement as Exhibit 99.2 to the Company’s Current Report on Form 8-K furnished to the SEC on July 13, 2026 and is also available at https://investors.firstbankonline.com.


☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)


☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)


☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))


MEDIA CONTACT:						FINANCIAL CONTACT:

Keith Hancock						Michael Mettee
404-310-2368						615-435-0952
[email protected]						[email protected]
www.firstbankonline.com						[email protected]


Financial Summary and Key Metrics
(Unaudited)
(dollars in thousands, except per share data)

	As of or for the Three Months Ended
	Jun 2026			Mar 2026			Jun 2025
Selected Balance Sheet Data
Cash and cash equivalents	$	1,112,357		$	1,157,763		$	1,165,729
Investment securities, at fair value	1,527,093			1,498,547			1,337,565
Loans held for sale	198,089			231,359			144,212
Loans HFI	12,865,510			12,503,815			9,874,282
Allowance for credit losses on loans HFI	(194,010)			(186,324)			(148,948)


Total assets	16,796,101			16,468,439			13,354,238
Interest-bearing deposits (non-brokered)	10,886,056			10,838,139			8,692,848
Brokered deposits	685,902			574,216			518,719
Noninterest-bearing deposits	2,775,208			2,664,480			2,191,903
Total deposits	14,347,166			14,076,835			11,403,470
Borrowings	314,513			213,188			164,485
Allowance for credit losses on unfunded commitments	15,859			15,398			12,932
Total common shareholders’ equity	1,936,531			1,973,873			1,611,130
Selected Statement of Income Data
Total interest income	$	229,438		$	225,350		$	182,084
Total interest expense	80,466			79,385			70,669
Net interest income	148,972			145,965			111,415
Total noninterest income (loss)	25,780			26,375			(34,552)
Total noninterest expense	91,480			95,164			81,261
Earnings (losses) before income taxes and provisions for credit losses	83,272			77,176			(4,398)
Provisions for credit losses	10,116			3,024			5,337
Income tax expense (benefit)	14,499			16,626			(12,652)
Net income applicable to noncontrolling interest	8			—			8
Net income applicable to FB Financial Corporation	$	58,649		$	57,526		$	2,909
Net interest income (tax-equivalent basis)	$	149,788		$	146,774		$	112,236
Adjusted net income*	$	58,905		$	58,271		$	40,821
Adjusted pre-tax, pre-provision net revenue*	$	83,607		$	78,184		$	58,649
Per Common Share
Diluted net income	$	1.13		$	1.10		$	0.06
Adjusted diluted net income*	1.14			1.12			0.88

Book value	38.75			38.39			35.17
Tangible book value*	31.19			31.00			29.78

Weighted average number of shares outstanding - fully diluted	51,693,688			52,203,469			46,179,090
Period-end number of shares	49,976,755			51,418,024			45,807,689
Selected Ratios
Return on average:
Assets	1.44		%	1.43		%	0.09		%
Shareholders’ equity	11.8		%	11.9		%	0.74		%
Tangible common equity*	14.6		%	14.7		%	0.87		%

Efficiency ratio	52.3		%	55.2		%	105.7		%
Adjusted efficiency ratio (tax-equivalent basis)*	52.0		%	54.3		%	56.9		%
Loans HFI to deposit ratio	89.7		%	88.8		%	86.6		%

Noninterest-bearing deposits to total deposits	19.3		%	18.9		%	19.2		%
Net interest margin (tax-equivalent basis)	3.95		%	3.94		%	3.68		%
Yield on interest-earning assets	6.07		%	6.07		%	5.99		%
Cost of interest-bearing liabilities	2.84		%	2.83		%	3.13		%
Cost of total deposits	2.26		%	2.27		%	2.48		%

Credit Quality Ratios
Allowance for credit losses on loans HFI as a percentage of loans HFI	1.51		%	1.49		%	1.51		%

Annualized net charge-offs as a percentage of average loans HFI	0.06		%	0.11		%	0.02		%
Nonperforming loans HFI as a percentage of loans HFI	1.17		%	0.96		%	0.97		%
Nonperforming assets as a percentage of total assets	1.14		%	0.98		%	0.92		%
Preliminary Capital Ratios (consolidated)
Total common shareholders’ equity to assets	11.5		%	12.0		%	12.1		%
Tangible common equity to tangible assets*	9.49		%	9.91		%	10.4		%
Tier 1 leverage	10.1		%	10.4		%	11.3		%
Tier 1 risk-based capital	11.0		%	11.5		%	12.6		%
Total risk-based capital	12.9		%	13.4		%	14.7		%
Common equity Tier 1	11.0		%	11.5		%	12.3		%


			Page

Financial Summary and Key Metrics			4

Consolidated Statements of Income			5

Consolidated Balance Sheets			7

Average Balance and Interest Yield/Rate Analysis			8



Investments and Other Sources of Liquidity			11

Loan Portfolio			12

Asset Quality			13

Selected Deposit Data			14

Preliminary Capital Ratios			15

Segment Data			16

Non-GAAP Reconciliations			17


Consolidated Balance Sheets
(Unaudited)
(Dollars in Thousands)

													Annualized
													Jun 2026		Jun 2026
													vs.		vs.
	As of										Mar 2026	Jun 2025
	Jun 2026		Mar 2026		Dec 2025		Sep 2025		Jun 2025				Percent variance		Percent variance
ASSETS
Cash and due from banks	$	147,034	$	159,883	$	196,213	$	154,286	$	143,317			(32.2)	%	2.59	%
Federal funds sold and reverse repurchase agreements	228,861		199,009		213,391		283,451		352,124				60.2	%	(35.0)	%
Interest-bearing deposits in financial institutions	736,462		798,871		746,291		842,296		670,288				(31.3)	%	9.87	%
Cash and cash equivalents	1,112,357		1,157,763		1,155,895		1,280,033		1,165,729				(15.7)	%	(4.58)	%
Investments:
Available-for-sale debt securities, at fair value	1,521,093		1,498,547		1,459,579		1,426,951		1,337,565				6.03	%	13.72	%
Equity securities, at fair value	6,000		—		155		1,450		—				(100.0)	%	(100.0)	%
Restricted equity securities, at cost	87,572		79,458		79,046		36,231		33,626				41.0	%	160.4	%
Loans held for sale	198,089		231,359		201,076		167,449		144,212				(57.7)	%	37.4	%
Loans held for investment	12,865,510		12,503,815		12,383,626		12,297,600		9,874,282				11.6	%	30.3	%
Less: allowance for credit losses on loans HFI	194,010		186,324		185,983		184,993		148,948				16.5	%	30.3	%
Net loans held for investment	12,671,500		12,317,491		12,197,643		12,112,607		9,725,334				11.5	%	30.3	%
Premises and equipment, net	180,058		181,268		182,370		183,595		147,243				(2.68)	%	22.3	%
Other real estate owned, net	5,544		6,449		6,009		4,466		2,998				(56.3)	%	84.9	%
Operating lease right-of-use assets	47,535		48,223		49,249		51,035		47,764				(5.72)	%	(0.48)	%
Interest receivable	58,792		59,837		58,565		60,755		50,386				(7.00)	%	16.7	%
Mortgage servicing rights, at fair value	145,374		147,344		148,795		149,840		153,464				(5.36)	%	(5.27)	%
Bank-owned life insurance	111,184		110,484		111,865		113,374		72,686				2.54	%	53.0	%
Goodwill	350,353		350,353		350,353		350,353		242,561				—	%	44.4	%
Core deposit and other intangibles, net	27,611		29,415		31,284		33,216		4,475				(24.6)	%	517.0	%
Other assets	273,039		250,448		268,408		265,104		226,195				36.2	%	20.7	%
Total assets	$	16,796,101	$	16,468,439	$	16,300,292	$	16,236,459	$	13,354,238			7.98	%	25.8	%
LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities:
Deposits
Noninterest-bearing	$	2,775,208	$	2,664,480	$	2,634,395	$	2,690,635	$	2,191,903			16.7	%	26.6	%
Interest-bearing checking	2,479,291		2,642,713		2,651,369		2,458,625		2,325,551				(24.8)	%	6.61	%
Money market and savings	5,786,480		5,886,370		5,969,640		5,968,094		4,645,552				(6.81)	%	24.6	%
Customer time deposits	2,620,285		2,309,056		2,028,923		2,206,790		1,721,745				54.1	%	52.2	%
Brokered and internet time deposits	685,902		574,216		625,634		488,811		518,719				78.0	%	32.2	%
Total deposits	14,347,166		14,076,835		13,909,961		13,812,955		11,403,470				7.70	%	25.8	%
Borrowings	314,513		213,188		212,764		213,638		164,485				190.6	%	91.2	%
Operating lease liabilities	57,940		59,106		60,556		62,664		59,289				(7.91)	%	(2.28)	%
Accrued expenses and other liabilities	139,858		145,344		168,753		169,066		115,771				(15.1)	%	20.8	%
Total liabilities	14,859,477		14,494,473		14,352,034		14,258,323		11,743,015				10.1	%	26.5	%
Shareholders’ equity:
Common stock, $1 par value	49,977		51,418		51,752		53,457		45,808				(11.2)	%	9.10	%
Additional paid-in capital	981,194		1,064,619		1,082,344		1,163,164		822,548				(31.4)	%	19.3	%
Retained earnings	940,824		893,095		846,620		799,900		786,785				21.4	%	19.6	%
Accumulated other comprehensive loss, net	(35,464)		(35,259)		(32,551)		(38,478)		(44,011)				2.33	%	(19.4)	%
Total common shareholders’ equity	1,936,531		1,973,873		1,948,165		1,978,043		1,611,130				(7.59)	%	20.2	%
Noncontrolling interest	93		93		93		93		93				—	%	—	%
Total equity	1,936,624		1,973,966		1,948,258		1,978,136		1,611,223				(7.59)	%	20.2	%
Total liabilities and shareholders’ equity	$	16,796,101	$	16,468,439	$	16,300,292	$	16,236,459	$	13,354,238			7.98	%	25.8	%


Non-GAAP Reconciliations (continued)

(Unaudited)
(Dollars in Thousands)

	Three Months Ended										Six Months Ended
Adjusted pre-tax pre-provision net revenue	Jun 2026		Mar 2026		Dec 2025		Sep 2025		Jun 2025		Jun 2026		Jun 2025
Income (loss) before income taxes	$	73,156	$	74,152	$	69,819	$	29,602	$	(9,735)	$	147,308	$	39,097
Plus provisions for credit losses	10,116		3,024		1,232		34,417		5,337		13,140		7,629
Pre-tax pre-provision net revenue	83,272		77,176		71,051		64,019		(4,398)		160,448		46,726
Less gain (loss) from securities, net	—		1		64		12		(60,549)		1		(60,533)
Less (loss) gain on sales or write-downs of premises and equipment, other real estate owned and other assets, net	(377)		(320)		(131)		(646)		236		(697)		(389)
Less cash life insurance benefit	—		763		1,148		—		—		763		—

Plus early retirement and severance costs	—		—		1,395		—		—		—		—
Plus (gain) loss on lease terminations and other branch closure costs	(42)		5		12		270		—		(37)		—
Plus charitable contribution to FirstBank Foundation	—		—		1,130		—		—		—		—

Plus merger and integration costs	—		1,447		4,611		16,057		2,734		1,447		3,135
Adjusted pre-tax pre-provision net revenue	$	83,607	$	78,184	$	77,118	$	80,980	$	58,649	$	161,791	$	110,783



	Three Months Ended										Six Months Ended
Adjusted tangible net income	Jun 2026		Mar 2026		Dec 2025		Sep 2025		Jun 2025		Jun 2026		Jun 2025
Income (loss) before income taxes	$	73,156	$	74,152	$	69,819	$	29,602	$	(9,735)	$	147,308	$	39,097
Plus amortization of core deposit and other intangibles	1,804		1,869		1,932		2,079		631		3,673		1,287
Less gain (loss) from securities, net	—		1		64		12		(60,549)		1		(60,533)
Less (loss) gain on sales or write-downs of premises and equipment, other real estate owned and other assets, net	(377)		(320)		(131)		(646)		236		(697)		(389)
Less cash life insurance benefit	—		763		1,148		—		—		763		—

Plus initial provision for credit losses on acquired loans and unfunded commitments	—		—		—		28,366		—		—		—
Plus early retirement and severance costs	—		—		1,395		—		—		—		—
Plus (gain) loss on lease terminations and other branch closure costs	(42)		5		12		270		—		(37)		—
Plus charitable contribution to FirstBank Foundation	—		—		1,130		—		—		—		—

Plus merger and integration costs	—		1,447		4,611		16,057		2,734		1,447		3,135
Less income tax expense, adjusted for items above(a)	15,056		17,376		14,895		17,864		3,942		32,432		13,847
Plus income tax benefit(b)	—		—		—		—		(8,713)		—		(8,713)
Adjusted tangible net income	$	60,239	$	59,653	$	62,923	$	59,144	$	41,288	$	119,892	$	81,881
(a) Adjusted items calculated using the combined federal and blended state statutory income tax rate of 26.06% for all periods, excluding nondeductible items for merger and integration costs. (b) Represents a non-recurring tax benefit recorded during the three months ended June 30, 2025 due to the expiration of the statute of limitations with respect to an amended income tax return.


Non-GAAP Reconciliations (continued)
Unaudited
(Dollars in Thousands)

	Three Months Ended															Six Months Ended
Mortgage segment adjusted efficiency ratio (tax-equivalent)	Jun 2026			Mar 2026			Dec 2025			Sep 2025			Jun 2025			Jun 2026			Jun 2025
Mortgage segment noninterest expense	$	12,361		$	13,588		$	13,992		$	12,887		$	13,931		$	25,949		$	26,571




Mortgage segment adjusted noninterest expense	$	12,361		$	13,588		$	13,992		$	12,887		$	13,931		$	25,949		$	26,571
Mortgage segment net interest income	$	3,540		$	2,843		$	3,239		$	2,381		$	2,506		$	6,383		$	4,388
Mortgage segment noninterest income	11,377			12,413			13,588			13,557			13,168			23,790			25,540
Less gain (loss) on sales or write-downs of premises and equipment, other real estate owned and other assets, net	138			89			—			—			33			227			(95)
Mortgage segment adjusted noninterest income	11,239			12,324			13,588			13,557			13,135			23,563			25,635
Mortgage segment total revenue	$	14,917		$	15,256		$	16,827		$	15,938		$	15,674		$	30,173		$	29,928
Mortgage segment adjusted total revenue	$	14,779		$	15,167		$	16,827		$	15,938		$	15,641		$	29,946		$	30,023
Mortgage segment efficiency ratio	82.9		%	89.1		%	83.2		%	80.9		%	88.9		%	86.0		%	88.8		%
Mortgage segment adjusted efficiency ratio (tax-equivalent basis)	83.6		%	89.6		%	83.2		%	80.9		%	89.1		%	86.7		%	88.5		%












	Three Months Ended															Six Months Ended
Adjusted return on average assets, common equity and related measures	Jun 2026			Mar 2026			Dec 2025			Sep 2025			Jun 2025			Jun 2026			Jun 2025
Net income	$	58,649		$	57,526		$	56,977		$	23,375		$	2,909		$	116,175		$	42,270
Average assets	16,334,014			16,258,272			16,151,195			16,007,788			13,032,490			16,296,352			13,119,248
Average common equity	1,987,199			1,965,877			1,956,633			1,977,785			1,583,099			1,976,597			1,583,527
Return on average assets	1.44		%	1.43		%	1.40		%	0.58		%	0.09		%	1.44		%	0.65		%
Return on average common equity	11.8		%	11.9		%	11.6		%	4.69		%	0.74		%	11.9		%	5.38		%
Adjusted net income	$	58,905		$	58,271		$	61,494		$	57,606		$	40,821		$	117,176		$	80,929
Adjusted return on average assets	1.45		%	1.45		%	1.51		%	1.43		%	1.26		%	1.45		%	1.24		%
Adjusted return on average common equity	11.9		%	12.0		%	12.5		%	11.6		%	10.3		%	12.0		%	10.3		%













Adjusted pre-tax pre-provision net income	$	83,607		$	78,184		$	77,118		$	80,980		$	58,649		$	161,791		$	110,783
Adjusted pre-tax pre-provision return on average assets	2.05		%	1.95		%	1.89		%	2.01		%	1.81		%	2.00		%	1.70		%


Average Balance and Interest Yield/Rate Analysis

(Unaudited)
(Dollars in Thousands)

	Three Months Ended
	June 30, 2026						March 31, 2026
	Average balances		Interest income/ expense		Average yield/ rate		Average balances		Interest income/ expense		Average yield/ rate
Interest-earning assets:
Loans HFI(a)(b)	$	12,611,425	$	203,763	6.48	%	$	12,415,278	$	199,145	6.51	%
Mortgage loans held for sale	205,594		3,111		6.07	%	171,452		2,550		6.03	%

Investment securities:
Taxable	1,405,824		13,804		3.94	%	1,378,627		13,575		3.99	%
Tax-exempt(b)	169,143		1,442		3.42	%	168,658		1,425		3.43	%
Total investment securities(b)	1,574,967		15,246		3.88	%	1,547,285		15,000		3.93	%
Federal funds sold and reverse repurchase agreements	199,542		1,974		3.97	%	207,809		2,021		3.94	%
Interest-bearing deposits with other financial institutions	544,979		5,006		3.68	%	698,672		6,337		3.68	%
Restricted equity securities, at cost	82,091		1,154		5.64	%	79,257		1,106		5.66	%
Total interest-earning assets(b)	15,218,598		230,254		6.07	%	15,119,753		226,159		6.07	%
Noninterest-earning assets:
Cash and due from banks	141,072						147,305
Allowance for credit losses on loans HFI	(187,329)						(188,214)
Other assets(c)(d)	1,161,673						1,179,428
Total noninterest-earning assets	1,115,416						1,138,519
Total assets	$	16,334,014					$	16,258,272
Interest-bearing liabilities:
Interest-bearing deposits:
Interest-bearing checking	$	2,527,571	$	11,601	1.84	%	$	2,628,330	$	12,348	1.91	%
Money market	5,305,608		39,263		2.97	%	5,471,973		39,871		2.96	%
Savings deposits	490,923		1,035		0.85	%	447,380		656		0.59	%
Customer time deposits	2,308,317		20,610		3.58	%	2,116,914		19,000		3.64	%
Brokered and internet time deposits	625,579		6,259		4.01	%	604,764		6,003		4.03	%
Time deposits	2,933,896		26,869		3.67	%	2,721,678		25,003		3.73	%
Total interest-bearing deposits	11,257,998		78,768		2.81	%	11,269,361		77,878		2.80	%
Other interest-bearing liabilities:
Securities sold under agreements to repurchase and federal funds purchased	10,683		18		0.68	%	12,554		16		0.52	%
Federal Home Loan Bank advances	5,769		41		2.85	%	—		—		—	%
Subordinated debt	84,145		1,491		7.11	%	83,798		1,486		7.19	%


Average Balance and Interest Yield/Rate Analysis (continued)

(Unaudited)
(Dollars in Thousands)

	Three Months Ended
	December 31, 2025						September 30, 2025						June 30, 2025
	Average balances		Interest income/ expense		Average yield/ rate		Average balances		Interest income/ expense		Average yield/ rate		Average balances		Interest income/ expense		Average yield/ rate
Interest-earning assets:
Loans HFI(a)(b)	$	12,368,964	$	207,140	6.64	%	$	12,189,401	$	207,423	6.75	%	$	9,840,932	$	157,964	6.44	%
Mortgage loans held for sale	169,422		3,059		7.16	%	162,205		2,359		5.77	%	126,072		2,189		6.96	%

Investment securities:
Taxable	1,346,232		14,380		4.24	%	1,304,894		14,395		4.38	%	1,534,895		14,661		3.83	%
Tax-exempt(b)	169,355		1,431		3.35	%	169,523		1,431		3.35	%	167,675		1,401		3.35	%
Total investment securities(b)	1,515,587		15,811		4.14	%	1,474,417		15,826		4.26	%	1,702,570		16,062		3.78	%
Federal funds sold and reverse repurchase agreements	238,393		2,426		4.04	%	331,029		3,966		4.75	%	113,252		1,256		4.45	%
Interest-bearing deposits with other financial institutions	693,612		6,800		3.89	%	671,634		7,340		4.34	%	426,073		4,733		4.46	%
Restricted equity securities, at cost	49,029		840		6.80	%	36,907		832		8.94	%	35,623		701		7.89	%
Total interest-earning assets(b)	15,035,007		236,076		6.23	%	14,865,593		237,746		6.35	%	12,244,522		182,905		5.99	%
Noninterest-earning assets:
Cash and due from banks	137,536						139,226						115,717
Allowance for credit losses on loans HFI	(185,526)						(181,973)						(151,586)
Other assets(c)(d)	1,164,178						1,184,942						823,837
Total noninterest-earning assets	1,116,188						1,142,195						787,968
Total assets	$	16,151,195					$	16,007,788					$	13,032,490
Interest-bearing liabilities:
Interest-bearing deposits:
Interest-bearing checking	$	2,379,679	$	11,538	1.92	%	$	2,331,589	$	12,383	2.11	%	$	2,521,239	$	15,870	2.52	%
Money market	5,609,158		46,018		3.25	%	5,561,538		49,019		3.50	%	4,115,987		34,957		3.41	%
Savings deposits	417,110		419		0.40	%	406,787		248		0.24	%	352,307		98		0.11	%
Customer time deposits	2,088,577		19,561		3.72	%	1,997,905		18,965		3.77	%	1,404,368		12,454		3.56	%
Brokered and internet time deposits	608,136		6,277		4.10	%	560,127		5,962		4.22	%	481,686		5,189		4.32	%
Time deposits	2,696,713		25,838		3.80	%	2,558,032		24,927		3.87	%	1,886,054		17,643		3.75	%
Total interest-bearing deposits	11,102,660		83,813		2.99	%	10,857,946		86,577		3.16	%	8,875,587		68,568		3.10	%
Other interest-bearing liabilities:
Securities sold under agreements to repurchase and federal funds purchased	12,473		31		0.99	%	13,144		31		0.94	%	11,107		26		0.94	%
Federal Home Loan Bank advances	—		—		—	%	15,217		172		4.48	%	23,077		258		4.48	%
Subordinated debt	83,458		1,491		7.09	%	180,805		2,872		6.30	%	130,851		1,813		5.56	%


Average Balance and Interest Yield/Rate Analysis (continued)

(Unaudited)
(Dollars in Thousands)

	Six Months Ended
	June 30, 2026						June 30, 2025
	Average balances		Interest income/ expense		Average yield/ rate		Average balances		Interest income/ expense		Average yield/ rate
Interest-earning assets:
Loans HFI(a)(b)	$	12,513,893	$	402,908	6.49	%	$	9,731,602	$	310,138	6.43	%
Mortgage loans held for sale	188,617		5,661		6.05	%	110,096		3,622		6.63	%

Investment securities:
Taxable	1,392,301		27,379		3.97	%	1,538,363		29,132		3.82	%
Tax-exempt(b)	168,902		2,867		3.42	%	167,815		2,798		3.36	%
Total investment securities(b)	1,561,203		30,246		3.91	%	1,706,178		31,930		3.77	%
Federal funds sold and reverse repurchase agreements	203,653		3,995		3.96	%	118,293		2,630		4.48	%
Interest-bearing deposits with other financial institutions	621,401		11,343		3.68	%	617,581		13,635		4.45	%
Restricted equity securities, at cost	80,682		2,260		5.65	%	34,067		1,442		8.54	%
Total interest-earning assets(b)	15,169,449		456,413		6.07	%	12,317,817		363,397		5.95	%
Noninterest-earning assets:
Cash and due from banks	144,171						119,417
Allowance for credit losses on loans HFI	(187,769)						(151,909)
Other assets(c)(d)	1,170,501						833,923
Total noninterest-earning assets	1,126,903						801,431
Total assets	$	16,296,352					$	13,119,248
Interest-bearing liabilities:
Interest-bearing deposits:
Interest-bearing checking	$	2,577,672	$	23,949	1.87	%	$	2,679,843	$	34,137	2.57	%
Money market	5,388,331		79,134		2.96	%	4,099,959		69,317		3.41	%
Savings deposits	469,271		1,691		0.73	%	353,082		164		0.09	%
Customer time deposits	2,213,144		39,610		3.61	%	1,388,793		25,156		3.65	%
Brokered and internet time deposits	615,229		12,262		4.02	%	462,909		10,043		4.38	%
Time deposits	2,828,373		51,872		3.70	%	1,851,702		35,199		3.83	%
Total interest-bearing deposits	11,263,647		156,646		2.80	%	8,984,586		138,817		3.12	%
Other interest-bearing liabilities:
Securities sold under agreements to repurchase and federal funds purchased	11,613		34		0.59	%	11,077		32		0.58	%
Federal Home Loan Bank advances	2,901		41		2.85	%	11,602		258		4.48	%
Subordinated debt	83,972		2,977		7.15	%	130,803		3,617		5.58	%


Investments and Other Sources of Liquidity
(Unaudited)
(Dollars in Thousands)

	As of
	Jun 2026					Mar 2026					Dec 2025					Sep 2025					Jun 2025
Investment securities, at fair value
Available-for-sale debt securities:
U.S. government agency securities	$	748,777		49	%	$	713,910		48	%	$	670,088		46	%	$	653,197		46	%	$	642,264		48	%
Mortgage-backed securities - residential	573,179			38	%	599,180			40	%	602,320			41	%	587,587			41	%	541,343			40	%
Mortgage-backed securities - commercial	20,205			2	%	10,632			1	%	10,678			1	%	10,681			1	%	8,752			1	%
Municipal securities	170,173			11	%	166,033			11	%	168,370			12	%	165,411			12	%	144,228			11	%
Treasury securities	7,066			—	%	7,092			—	%	7,125			—	%	7,080			—	%	—			—	%
Corporate securities	1,693			—	%	1,700			—	%	998			—	%	2,995			—	%	978			—	%
Total available-for-sale debt securities	1,521,093			100	%	1,498,547			100	%	1,459,579			100	%	1,426,951			100	%	1,337,565			100	%
Equity securities, at fair value	6,000			—	%	—			—	%	155			—	%	1,450			—	%	—			—	%
Total investment securities, at fair value	$	1,527,093		100	%	$	1,498,547		100	%	$	1,459,734		100	%	$	1,428,401		100	%	$	1,337,565		100	%
Investment securities to total assets	9.09		%			9.10		%			8.96		%			8.80		%			10.0		%
Unrealized loss on available-for-sale debt securities	(51,828)					(51,495)					(47,887)					(55,890)					(63,262)

Sources of liquidity
Current on-balance sheet:
Cash and cash equivalents	$	1,112,357		62	%	$	1,157,763		65	%	$	1,155,895		64	%	$	1,280,033		68	%	$	1,165,729		68	%
Unpledged available-for-sale debt securities	691,290			38	%	637,182			35	%	649,000			36	%	608,716			32	%	547,354			32	%
Equity securities, at fair value	6,000			—	%	—			—	%	155			—	%	1,450			—	%	—			—	%
Total on-balance sheet liquidity	$	1,809,647		100	%	$	1,794,945		100	%	$	1,805,050		100	%	$	1,890,199		100	%	$	1,713,083		100	%

Available sources of liquidity:
Unsecured borrowing capacity(a)	$	4,012,661		48	%	$	4,021,984		47	%	$	3,915,314		47	%	$	4,018,822		52	%	$	3,325,751		48	%
FHLB remaining borrowing capacity	2,249,333			27	%	2,213,251			26	%	2,214,796			26	%	1,551,283			20	%	1,481,376			21	%
Federal Reserve discount window	2,138,248			25	%	2,319,521			27	%	2,268,599			27	%	2,196,785			28	%	2,119,018			31	%
Total available sources of liquidity	$	8,400,242		100	%	$	8,554,756		100	%	$	8,398,709		100	%	$	7,766,890		100	%	$	6,926,145		100	%

On-balance sheet liquidity as a percentage of total assets	10.8		%			10.9		%			11.1		%			11.6		%			12.8		%
On-balance sheet liquidity as a percentage of total tangible assets*	11.0		%			11.2		%			11.3		%			11.9		%			13.1		%
On-balance sheet liquidity and available sources of liquidity as a percentage of estimated uninsured and uncollateralized deposits(b)	246.7		%			255.0		%			249.8		%			245.0		%			289.5		%