FBK 8-K

FB Financial Corp (FBK)

8-K 2026-04-13 For: 2026-04-13

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Added on April 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 April 13, 2026
99.2						Financial Supplement for the quarter ended March 31, 2026
99.3						Earnings Presentation dated April 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: April 13, 2026


										Annualized
(dollars in thousands, except share data)	Mar 2026			Dec 2025			Mar 2025			Mar 26/ Dec 25 % Change		Mar 26 / Mar 25 % Change
Balance Sheet Highlights
Investment securities, at fair value	$	1,498,547		$	1,459,734		$	1,580,720		10.8	%	(5.20)	%
Loans held for sale	231,359			201,076			172,770			61.1	%	33.9	%

Loans HFI	12,503,815			12,383,626			9,771,536			3.94	%	28.0	%

Allowance for credit losses on loans HFI	(186,324)			(185,983)			(150,531)			0.74	%	23.8	%
Total assets	16,468,439			16,300,292			13,136,449			4.18	%	25.4	%

Interest-bearing deposits (non-brokered)	10,838,139			10,649,932			8,623,636			7.17	%	25.7	%
Brokered deposits	574,216			625,634			414,428			(33.3)	%	38.6	%
Noninterest-bearing deposits	2,664,480			2,634,395			2,163,934			4.63	%	23.1	%



Total deposits	14,076,835			13,909,961			11,201,998			4.87	%	25.7	%

Borrowings	213,188			212,764			168,944			0.81	%	26.2	%
Allowance for credit losses on unfunded commitments	15,398			16,196			6,493			(20.0)	%	137.1	%
Total common shareholders’ equity	1,973,873			1,948,165			1,601,962			5.35	%	23.2	%
Book value per common share	$	38.39		$	37.64		$	34.44		8.08	%	11.5	%
Tangible book value per common share*	$	31.00		$	30.27		$	29.12		9.78	%	6.46	%

Total common shareholders’ equity to total assets	12.0		%	12.0		%	12.2		%
Tangible common equity to tangible assets*	9.91		%	9.84		%	10.5		%

*Non-GAAP financial measure; A reconciliation of non-GAAP measures to the most directly comparable GAAP measure is included in the Company’s First Quarter 2026 Financial Supplement.


	Three Months Ended
(dollars in thousands, except share data)	Mar 2026			Dec 2025			Mar 2025
Statement of Income Highlights
Net interest income	$	145,965		$	149,804		$	107,641
NIM (tax-equivalent basis)	3.94		%	3.98		%	3.55		%



Noninterest income	$	26,375		$	28,795		$	23,032


Loss on sales or write-downs of premises and equipment, other real estate owned and other assets, net	$	(320)		$	(131)		$	(625)
Cash life insurance benefit	$	763		$	1,148		$	—
Total revenue	$	172,340		$	178,599		$	130,673
Noninterest expense	$	95,164		$	107,548		$	79,549


Severance costs	$	—		$	1,395		$	—
Loss on lease terminations and other branch closure costs	$	5		$	12		$	—

Certain nonrecurring charitable contributions	$	—		$	1,130		$	—
Merger and integration costs	$	1,447		$	4,611		$	401
Efficiency ratio	55.2		%	60.2		%	60.9		%
Adjusted efficiency ratio*	54.3		%	56.3		%	59.9		%





Pre-tax, pre-provision net revenue	$	77,176		$	71,051		$	51,124
Adjusted pre-tax, pre-provision net revenue*	$	78,184		$	77,118		$	52,134
Provisions for credit losses	$	3,024		$	1,232		$	2,292
Net charge-offs ratio	0.11		%	0.05		%	0.14		%
Net income applicable to FB Financial Corporation	$	57,526		$	56,977		$	39,361
Diluted earnings per common share	$	1.10		$	1.07		$	0.84
Effective tax rate	22.4		%	18.4		%	19.4		%
Adjusted net income*	$	58,271		$	61,494		$	40,108
Adjusted diluted earnings per common share*	$	1.12		$	1.16		$	0.85


Weighted average number of shares outstanding - fully diluted	52,203,469			53,074,753			47,024,211

Returns on average:

Return on average total assets (“ROAA”)	1.43		%	1.40		%	1.21		%
Adjusted*	1.45		%	1.51		%	1.23		%
Return on average shareholders’ equity	11.9		%	11.6		%	10.1		%

Return on average tangible common equity (“ROATCE”)*	14.7		%	14.4		%	11.9		%
Adjusted*	15.3		%	15.9		%	12.3		%




*Non-GAAP financial measure; A reconciliation of non-GAAP measures to the most directly comparable GAAP measure is included in the Company’s First Quarter 2026 Financial Supplement.


☐			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 share data)

	As of or for the Three Months Ended
	Mar 2026			Dec 2025			Mar 2025
Selected Balance Sheet Data
Cash and cash equivalents	$	1,157,763		$	1,155,895		$	794,706
Investment securities, at fair value	1,498,547			1,459,734			1,580,720
Loans held for sale	231,359			201,076			172,770
Loans HFI	12,503,815			12,383,626			9,771,536
Allowance for credit losses on loans HFI	(186,324)			(185,983)			(150,531)


Total assets	16,468,439			16,300,292			13,136,449
Interest-bearing deposits (non-brokered)	10,838,139			10,649,932			8,623,636
Brokered deposits	574,216			625,634			414,428
Noninterest-bearing deposits	2,664,480			2,634,395			2,163,934
Total deposits	14,076,835			13,909,961			11,201,998
Borrowings	213,188			212,764			168,944
Allowance for credit losses on unfunded commitments	15,398			16,196			6,493
Total common shareholders’ equity	1,973,873			1,948,165			1,601,962
Selected Statement of Income Data
Total interest income	$	225,350		$	235,238		$	179,706
Total interest expense	79,385			85,434			72,065
Net interest income	145,965			149,804			107,641
Total noninterest income	26,375			28,795			23,032
Total noninterest expense	95,164			107,548			79,549
Earnings before income taxes and provisions for credit losses	77,176			71,051			51,124
Provisions for credit losses	3,024			1,232			2,292
Income tax expense	16,626			12,834			9,471
Net income applicable to noncontrolling interest	—			8			—
Net income applicable to FB Financial Corporation	$	57,526		$	56,977		$	39,361
Net interest income (tax-equivalent basis)	$	146,774		$	150,642		$	108,427
Adjusted net income*	$	58,271		$	61,494		$	40,108
Adjusted pre-tax, pre-provision net revenue*	$	78,184		$	77,118		$	52,134
Per Common Share
Diluted net income	$	1.10		$	1.07		$	0.84
Adjusted diluted net income*	1.12			1.16			0.85

Book value	38.39			37.64			34.44
Tangible book value*	31.00			30.27			29.12

Weighted average number of shares outstanding - fully diluted	52,203,469			53,074,753			47,024,211
Period-end number of shares	51,418,024			51,752,401			46,514,547
Selected Ratios
Return on average:
Assets	1.43		%	1.40		%	1.21		%
Shareholders’ equity	11.9		%	11.6		%	10.1		%
Tangible common equity*	14.7		%	14.4		%	11.9		%

Efficiency ratio	55.2		%	60.2		%	60.9		%
Adjusted efficiency ratio (tax-equivalent basis)*	54.3		%	56.3		%	59.9		%
Loans HFI to deposit ratio	88.8		%	89.0		%	87.2		%

Noninterest-bearing deposits to total deposits	18.9		%	18.9		%	19.3		%
Net interest margin (tax-equivalent basis)	3.94		%	3.98		%	3.55		%
Yield on interest-earning assets	6.07		%	6.23		%	5.91		%
Cost of interest-bearing liabilities	2.83		%	3.02		%	3.16		%
Cost of total deposits	2.27		%	2.40		%	2.54		%

Credit Quality Ratios
Allowance for credit losses on loans HFI as a percentage of loans HFI	1.49		%	1.50		%	1.54		%

Annualized net charge-offs as a percentage of average loans HFI	0.11		%	0.05		%	0.14		%
Nonperforming loans HFI as a percentage of loans HFI	0.96		%	0.97		%	0.79		%
Nonperforming assets as a percentage of total assets	0.98		%	0.97		%	0.84		%
Preliminary Capital Ratios (consolidated)
Total common shareholders’ equity to assets	12.0		%	12.0		%	12.2		%
Tangible common equity to tangible assets*	9.91		%	9.84		%	10.5		%
Tier 1 leverage	10.4		%	10.3		%	11.4		%
Tier 1 risk-based capital	11.5		%	11.4		%	13.1		%
Total risk-based capital	13.4		%	13.2		%	15.2		%
Common equity Tier 1	11.5		%	11.4		%	12.8		%


			Page

Financial Summary and Key Metrics			4

Consolidated Statements of Income			5

Consolidated Balance Sheets			6

Average Balance and Interest Yield/Rate Analysis			7



Investments and Other Sources of Liquidity			9

Loan Portfolio			10

Asset Quality			11

Selected Deposit Data			12

Preliminary Capital Ratios			13

Segment Data			14

Non-GAAP Reconciliations			15


Consolidated Balance Sheets
(Unaudited)
(Dollars in Thousands)

													Annualized
													Mar 2026		Mar 2026
													vs.		vs.
	As of										Dec 2025	Mar 2025
	Mar 2026		Dec 2025		Sep 2025		Jun 2025		Mar 2025				Percent variance		Percent variance
ASSETS
Cash and due from banks	$	159,883	$	196,213	$	154,286	$	143,317	$	149,607			(75.1)	%	6.87	%
Federal funds sold and reverse repurchase agreements	199,009		213,391		283,451		352,124		109,982				(27.3)	%	80.9	%
Interest-bearing deposits in financial institutions	798,871		746,291		842,296		670,288		535,117				28.6	%	49.3	%
Cash and cash equivalents	1,157,763		1,155,895		1,280,033		1,165,729		794,706				0.66	%	45.7	%
Investments:
Available-for-sale debt securities, at fair value	1,498,547		1,459,579		1,426,951		1,337,565		1,580,720				10.8	%	(5.20)	%
Equity securities, at fair value	—		155		1,450		—		—				(100.0)	%	—	%
Restricted equity securities, at cost	79,458		79,046		36,231		33,626		32,234				2.11	%	146.5	%
Loans held for sale	231,359		201,076		167,449		144,212		172,770				61.1	%	33.9	%
Loans held for investment	12,503,815		12,383,626		12,297,600		9,874,282		9,771,536				3.94	%	28.0	%
Less: allowance for credit losses on loans HFI	186,324		185,983		184,993		148,948		150,531				0.74	%	23.8	%
Net loans held for investment	12,317,491		12,197,643		12,112,607		9,725,334		9,621,005				3.98	%	28.0	%
Premises and equipment, net	181,268		182,370		183,595		147,243		146,272				(2.45)	%	23.9	%
Other real estate owned, net	6,449		6,009		4,466		2,998		3,326				29.7	%	93.9	%
Operating lease right-of-use assets	48,223		49,249		51,035		47,764		47,381				(8.45)	%	1.78	%
Interest receivable	59,837		58,565		60,755		50,386		51,268				8.81	%	16.7	%
Mortgage servicing rights, at fair value	147,344		148,795		149,840		153,464		156,379				(3.95)	%	(5.78)	%
Goodwill	350,353		350,353		350,353		242,561		242,561				—	%	44.4	%
Core deposit and other intangibles, net	29,415		31,284		33,216		4,475		5,106				(24.2)	%	476.1	%
Bank-owned life insurance	110,484		111,865		113,374		72,686		72,400				(5.01)	%	52.6	%
Other assets	250,448		268,408		265,104		226,195		210,321				(27.1)	%	19.1	%
Total assets	$	16,468,439	$	16,300,292	$	16,236,459	$	13,354,238	$	13,136,449			4.18	%	25.4	%
LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities:
Deposits
Noninterest-bearing	$	2,664,480	$	2,634,395	$	2,690,635	$	2,191,903	$	2,163,934			4.63	%	23.1	%
Interest-bearing checking	2,642,713		2,651,369		2,458,625		2,325,551		2,776,958				(1.32)	%	(4.83)	%
Money market and savings	5,886,370		5,969,640		5,968,094		4,645,552		4,482,908				(5.66)	%	31.3	%
Customer time deposits	2,309,056		2,028,923		2,206,790		1,721,745		1,363,770				56.0	%	69.3	%
Brokered and internet time deposits	574,216		625,634		488,811		518,719		414,428				(33.3)	%	38.6	%
Total deposits	14,076,835		13,909,961		13,812,955		11,403,470		11,201,998				4.87	%	25.7	%
Borrowings	213,188		212,764		213,638		164,485		168,944				0.81	%	26.2	%
Operating lease liabilities	59,106		60,556		62,664		59,289		59,174				(9.71)	%	(0.11)	%
Accrued expenses and other liabilities	145,344		168,753		169,066		115,771		104,278				(56.3)	%	39.4	%
Total liabilities	14,494,473		14,352,034		14,258,323		11,743,015		11,534,394				4.02	%	25.7	%
Shareholders’ equity:
Common stock, $1 par value	51,418		51,752		53,457		45,808		46,515				(2.62)	%	10.5	%
Additional paid-in capital	1,064,619		1,082,344		1,163,164		822,548		854,715				(6.64)	%	24.6	%
Retained earnings	893,095		846,620		799,900		786,785		792,685				22.3	%	12.7	%
Accumulated other comprehensive loss, net	(35,259)		(32,551)		(38,478)		(44,011)		(91,953)				33.7	%	(61.7)	%
Total common shareholders’ equity	1,973,873		1,948,165		1,978,043		1,611,130		1,601,962				5.35	%	23.2	%
Noncontrolling interest	93		93		93		93		93				—	%	—	%
Total equity	1,973,966		1,948,258		1,978,136		1,611,223		1,602,055				5.35	%	23.2	%
Total liabilities and shareholders’ equity	$	16,468,439	$	16,300,292	$	16,236,459	$	13,354,238	$	13,136,449			4.18	%	25.4	%


Non-GAAP Reconciliations (continued)

(Unaudited)
(Dollars in Thousands, Except Share Data)

	Three Months Ended
Adjusted pre-tax pre-provision net revenue	Mar 2026		Dec 2025		Sep 2025		Jun 2025		Mar 2025
Income (loss) before income taxes	$	74,152	$	69,819	$	29,602	$	(9,735)	$	48,832
Plus provisions for credit losses	3,024		1,232		34,417		5,337		2,292
Pre-tax pre-provision net revenue	77,176		71,051		64,019		(4,398)		51,124
Less gain (loss) from securities, net	1		64		12		(60,549)		16
Less (loss) gain on sales or write-downs of premises and equipment, other real estate owned and other assets, net	(320)		(131)		(646)		236		(625)
Less cash life insurance benefit	763		1,148		—		—		—

Plus early retirement and severance costs	—		1,395		—		—		—
Plus loss on lease terminations and other branch closure costs	5		12		270		—		—
Plus certain nonrecurring charitable contributions	—		1,130		—		—		—

Plus merger and integration costs	1,447		4,611		16,057		2,734		401
Adjusted pre-tax pre-provision net revenue	$	78,184	$	77,118	$	80,980	$	58,649	$	52,134



	Three Months Ended
Adjusted tangible net income	Mar 2026		Dec 2025		Sep 2025		Jun 2025		Mar 2025
Income (loss) before income taxes	$	74,152	$	69,819	$	29,602	$	(9,735)	$	48,832
Plus amortization of core deposit and other intangibles	1,869		1,932		2,079		631		656
Less gain (loss) from securities, net	1		64		12		(60,549)		16
Less (loss) gain on sales or write-downs of premises and equipment, other real estate owned and other assets, net	(320)		(131)		(646)		236		(625)
Less cash life insurance benefit	763		1,148		—		—		—

Plus initial provision for credit losses on acquired loans and unfunded commitments	—		—		28,366		—		—
Plus early retirement and severance costs	—		1,395		—		—		—
Plus loss on lease terminations and other branch closure costs	5		12		270		—		—
Plus certain nonrecurring charitable contributions	—		1,130		—		—		—

Plus merger and integration costs	1,447		4,611		16,057		2,734		401
Less income tax expense, adjusted for items above(a)	17,376		14,895		17,864		3,942		9,905
Plus income tax benefit(b)	—		—		—		(8,713)		—
Adjusted tangible net income	$	59,653	$	62,923	$	59,144	$	41,288	$	40,593
(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
Mortgage segment adjusted efficiency ratio (tax- equivalent)	Mar 2026			Dec 2025			Sep 2025			Jun 2025			Mar 2025
Mortgage segment noninterest expense	$	13,588		$	13,992		$	12,887		$	13,931		$	12,640




Mortgage segment adjusted noninterest expense	$	13,588		$	13,992		$	12,887		$	13,931		$	12,640
Mortgage segment net interest income	$	2,843		$	3,239		$	2,381		$	2,506		$	1,882
Mortgage segment noninterest income	12,413			13,588			13,557			13,168			12,372
Less gain (loss) on sales or write-downs of premises and equipment, other real estate owned and other assets, net	89			—			—			33			(128)
Mortgage segment adjusted noninterest income	12,324			13,588			13,557			13,135			12,500
Mortgage segment total revenue	$	15,256		$	16,827		$	15,938		$	15,674		$	14,254
Mortgage segment adjusted total revenue	$	15,167		$	16,827		$	15,938		$	15,641		$	14,382
Mortgage segment efficiency ratio	89.1		%	83.2		%	80.9		%	88.9		%	88.7		%
Mortgage segment adjusted efficiency ratio (tax- equivalent basis)	89.6		%	83.2		%	80.9		%	89.1		%	87.9		%












	Three Months Ended
Adjusted return on average assets, common equity and related measures	Mar 2026			Dec 2025			Sep 2025			Jun 2025			Mar 2025
Net income	$	57,526		$	56,977		$	23,375		$	2,909		$	39,361
Average assets	16,258,272			16,151,195			16,007,788			13,032,490			13,206,969
Average common equity	1,965,877			1,956,633			1,977,785			1,583,099			1,583,958
Return on average assets	1.43		%	1.40		%	0.58		%	0.09		%	1.21		%
Return on average common equity	11.9		%	11.6		%	4.69		%	0.74		%	10.1		%
Adjusted net income	$	58,271		$	61,494		$	57,606		$	40,821		$	40,108
Adjusted return on average assets	1.45		%	1.51		%	1.43		%	1.26		%	1.23		%
Adjusted return on average common equity	12.0		%	12.5		%	11.6		%	10.3		%	10.3		%













Adjusted pre-tax pre-provision net income	$	78,184		$	77,118		$	80,980		$	58,649		$	52,134
Adjusted pre-tax pre-provision return on average assets	1.95		%	1.89		%	2.01		%	1.81		%	1.60		%


Consolidated Statements of Income
(Unaudited)
(Dollars in Thousands, Except Share Data)
													Mar 2026		Mar 2026
													vs.		vs.
	Three Months Ended										Dec 2025	Mar 2025
	Mar 2026		Dec 2025		Sep 2025		Jun 2025		Mar 2025				Percent variance		Percent variance
Interest income:
Interest and fees on loans	$	201,257	$	209,734	$	209,307	$	159,697	$	153,185			(4.04)	%	31.4	%
Interest on investment securities
Taxable	13,575		14,380		14,395		14,661		14,471				(5.60)	%	(6.19)	%
Tax-exempt	1,054		1,058		1,058		1,036		1,033				(0.38)	%	2.03	%
Other	9,464		10,066		12,138		6,690		11,017				(5.98)	%	(14.1)	%
Total interest income	225,350		235,238		236,898		182,084		179,706				(4.20)	%	25.4	%
Interest expense:
Deposits	77,878		83,813		86,577		68,568		70,249				(7.08)	%	10.9	%
Borrowings	1,507		1,621		3,081		2,101		1,816				(7.03)	%	(17.0)	%
Total interest expense	79,385		85,434		89,658		70,669		72,065				(7.08)	%	10.2	%
Net interest income	145,965		149,804		147,240		111,415		107,641				(2.56)	%	35.6	%
Provision for (reversal of) credit losses on loans HFI	3,822		2,428		29,957		(1,102)		1,906				57.4	%	100.5	%
(Reversal of) provision for credit losses on unfunded commitments	(798)		(1,196)		4,460		6,439		386				(33.3)	%	(306.7)	%
Net interest income after provisions for credit losses	142,941		148,572		112,823		106,078		105,349				(3.79)	%	35.7	%
Noninterest income:
Mortgage banking income	12,253		13,505		13,484		13,029		12,426				(9.27)	%	(1.39)	%
Service charges on deposit accounts	4,376		4,184		4,049		3,392		3,479				4.59	%	25.8	%
Investment services and trust income	4,348		4,473		4,227		3,922		3,711				(2.79)	%	17.2	%
ATM and interchange fees	2,977		3,146		3,388		2,878		2,677				(5.37)	%	11.2	%
Gain (loss) from securities, net	1		64		12		(60,549)		16				(98.4)	%	(93.8)	%
(Loss) gain on sales or write-downs of premises and equipment, other real estate owned and other assets, net	(320)		(131)		(646)		236		(625)				144.3	%	(48.8)	%
Other income	2,740		3,554		2,121		2,540		1,348				(22.9)	%	103.3	%
Total noninterest income (loss)	26,375		28,795		26,635		(34,552)		23,032				(8.40)	%	14.5	%
Total revenue	172,340		178,599		173,875		76,863		130,673				(3.50)	%	31.9	%
Noninterest expenses:
Salaries, commissions and employee benefits	57,348		63,529		59,210		46,631		48,351				(9.73)	%	18.6	%
Occupancy and equipment expense	7,476		7,239		7,539		6,710		6,597				3.27	%	13.3	%
Data processing	2,454		2,809		2,457		2,161		2,313				(12.6)	%	6.10	%
Advertising	2,148		2,464		2,453		2,178		2,487				(12.8)	%	(13.6)	%
Legal and professional fees	1,980		2,503		1,227		2,426		1,992				(20.9)	%	(0.60)	%
Amortization of core deposits and other intangibles	1,869		1,932		2,079		631		656				(3.26)	%	184.9	%


Average Balance and Interest Yield/Rate Analysis

(Unaudited)
(Dollars in Thousands)

	Three Months Ended
	March 31, 2026						December 31, 2025
	Average balances		Interest income/ expense		Average yield/ rate		Average balances		Interest income/ expense		Average yield/ rate
Interest-earning assets:
Loans HFI(a)(b)	$	12,415,278	$	199,145	6.51	%	$	12,368,964	$	207,140	6.64	%
Mortgage loans held for sale	171,452		2,550		6.03	%	169,422		3,059		7.16	%

Investment securities:
Taxable	1,378,627		13,575		3.99	%	1,346,232		14,380		4.24	%
Tax-exempt(b)	168,658		1,425		3.43	%	169,355		1,431		3.35	%
Total investment securities(b)	1,547,285		15,000		3.93	%	1,515,587		15,811		4.14	%
Federal funds sold and reverse repurchase agreements	207,809		2,021		3.94	%	238,393		2,426		4.04	%
Interest-bearing deposits with other financial institutions	698,672		6,337		3.68	%	693,612		6,800		3.89	%
Restricted equity securities, at cost	79,257		1,106		5.66	%	49,029		840		6.80	%
Total interest-earning assets(b)	15,119,753		226,159		6.07	%	15,035,007		236,076		6.23	%
Noninterest-earning assets:
Cash and due from banks	147,305						137,536
Allowance for credit losses on loans HFI	(188,214)						(185,526)
Other assets(c)(d)	1,179,428						1,164,178
Total noninterest-earning assets	1,138,519						1,116,188
Total assets	$	16,258,272					$	16,151,195
Interest-bearing liabilities:
Interest-bearing deposits:
Interest-bearing checking	$	2,628,330	$	12,348	1.91	%	$	2,379,679	$	11,538	1.92	%
Money market	5,471,973		39,871		2.96	%	5,609,158		46,018		3.25	%
Savings deposits	447,380		656		0.59	%	417,110		419		0.40	%
Customer time deposits	2,116,914		19,000		3.64	%	2,088,577		19,561		3.72	%
Brokered and internet time deposits	604,764		6,003		4.03	%	608,136		6,277		4.10	%
Time deposits	2,721,678		25,003		3.73	%	2,696,713		25,838		3.80	%
Total interest-bearing deposits	11,269,361		77,878		2.80	%	11,102,660		83,813		2.99	%
Other interest-bearing liabilities:
Securities sold under agreements to repurchase and federal funds purchased	12,554		16		0.52	%	12,473		31		0.99	%
Federal Home Loan Bank advances	—		—		—	%	—		—		—	%
Subordinated debt	83,798		1,486		7.19	%	83,458		1,491		7.09	%


Average Balance and Interest Yield/Rate Analysis (continued)

(Unaudited)
(Dollars in Thousands)

	Three Months Ended
	September 30, 2025						June 30, 2025						March 31, 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)	$	12,189,401	$	207,423	6.75	%	$	9,840,932	$	157,964	6.44	%	$	9,621,057	$	152,174	6.41	%
Mortgage loans held for sale	162,205		2,359		5.77	%	126,072		2,189		6.96	%	93,944		1,433		6.19	%

Investment securities:
Taxable	1,304,894		14,395		4.38	%	1,534,895		14,661		3.83	%	1,541,868		14,471		3.81	%
Tax-exempt(b)	169,523		1,431		3.35	%	167,675		1,401		3.35	%	167,958		1,397		3.37	%
Total investment securities(b)	1,474,417		15,826		4.26	%	1,702,570		16,062		3.78	%	1,709,826		15,868		3.76	%
Federal funds sold and reverse repurchase agreements	331,029		3,966		4.75	%	113,252		1,256		4.45	%	123,390		1,374		4.52	%
Interest-bearing deposits with other financial institutions	671,634		7,340		4.34	%	426,073		4,733		4.46	%	811,216		8,902		4.45	%
Restricted equity securities, at cost	36,907		832		8.94	%	35,623		701		7.89	%	32,493		741		9.25	%
Total interest-earning assets(b)	14,865,593		237,746		6.35	%	12,244,522		182,905		5.99	%	12,391,926		180,492		5.91	%
Noninterest-earning assets:
Cash and due from banks	139,226						115,717						123,158
Allowance for credit losses on loans HFI	(181,973)						(151,586)						(152,234)
Other assets(c)(d)	1,184,942						823,837						844,119
Total noninterest-earning assets	1,142,195						787,968						815,043
Total assets	$	16,007,788					$	13,032,490					$	13,206,969
Interest-bearing liabilities:
Interest-bearing deposits:
Interest-bearing checking	$	2,331,589	$	12,383	2.11	%	$	2,521,239	$	15,870	2.52	%	$	2,840,211	$	18,267	2.61	%
Money market	5,561,538		49,019		3.50	%	4,115,987		34,957		3.41	%	4,083,754		34,360		3.41	%
Savings deposits	406,787		248		0.24	%	352,307		98		0.11	%	353,865		66		0.08	%
Customer time deposits	1,997,905		18,965		3.77	%	1,404,368		12,454		3.56	%	1,373,045		12,702		3.75	%
Brokered and internet time deposits	560,127		5,962		4.22	%	481,686		5,189		4.32	%	443,923		4,854		4.43	%
Time deposits	2,558,032		24,927		3.87	%	1,886,054		17,643		3.75	%	1,816,968		17,556		3.92	%
Total interest-bearing deposits	10,857,946		86,577		3.16	%	8,875,587		68,568		3.10	%	9,094,798		70,249		3.13	%
Other interest-bearing liabilities:
Securities sold under agreements to repurchase and federal funds purchased	13,144		31		0.94	%	11,107		26		0.94	%	11,046		6		0.22	%
Federal Home Loan Bank advances	15,217		172		4.48	%	23,077		258		4.48	%	—		—		—	%
Subordinated debt	180,805		2,872		6.30	%	130,851		1,813		5.56	%	130,755		1,804		5.60	%


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

	As of
	Mar 2026					Dec 2025					Sep 2025					Jun 2025					Mar 2025
Investment securities, at fair value
Available-for-sale debt securities:
U.S. government agency securities	$	713,910		48	%	$	670,088		46	%	$	653,197		46	%	$	642,264		48	%	$	602,942		38	%
Mortgage-backed securities - residential	599,180			40	%	602,320			41	%	587,587			41	%	541,343			40	%	816,556			52	%
Mortgage-backed securities - commercial	10,632			1	%	10,678			1	%	10,681			1	%	8,752			1	%	14,828			1	%
Municipal securities	166,033			11	%	168,370			12	%	165,411			12	%	144,228			11	%	145,396			9	%
Treasury securities	7,092			—	%	7,125			—	%	7,080			—	%	—			—	%	—			—	%
Corporate securities	1,700			—	%	998			—	%	2,995			—	%	978			—	%	998			—	%
Total available-for-sale debt securities	1,498,547			100	%	1,459,579			100	%	1,426,951			100	%	1,337,565			100	%	1,580,720			100	%
Equity securities, at fair value	—			—	%	155			—	%	1,450			—	%	—			—	%	—			—	%
Total investment securities, at fair value	$	1,498,547		100	%	$	1,459,734		100	%	$	1,428,401		100	%	$	1,337,565		100	%	$	1,580,720		100	%
Investment securities to total assets	9.10		%			8.96		%			8.80		%			10.0		%			12.0		%
Unrealized loss on available-for-sale debt securities	(51,495)					(47,887)					(55,890)					(63,262)					(128,173)

Sources of liquidity
Current on-balance sheet:
Cash and cash equivalents	$	1,157,763		65	%	$	1,155,895		64	%	$	1,280,033		68	%	$	1,165,729		68	%	$	794,706		53	%
Unpledged available-for-sale debt securities	637,182			35	%	649,000			36	%	608,716			32	%	547,354			32	%	703,117			47	%
Equity securities, at fair value	—			—	%	155			—	%	1,450			—	%	—			—	%	—			—	%
Total on-balance sheet liquidity	$	1,794,945		100	%	$	1,805,050		100	%	$	1,890,199		100	%	$	1,713,083		100	%	$	1,497,823		100	%

Available sources of liquidity:
Unsecured borrowing capacity(a)	$	4,021,984		47	%	$	3,915,314		47	%	$	4,018,822		52	%	$	3,325,751		48	%	$	3,369,107		48	%
FHLB remaining borrowing capacity	2,213,251			26	%	2,214,796			26	%	1,551,283			20	%	1,481,376			21	%	1,476,688			21	%
Federal Reserve discount window	2,319,521			27	%	2,268,599			27	%	2,196,785			28	%	2,119,018			31	%	2,134,448			31	%
Total available sources of liquidity	$	8,554,756		100	%	$	8,398,709		100	%	$	7,766,890		100	%	$	6,926,145		100	%	$	6,980,243		100	%

On-balance sheet liquidity as a percentage of total assets	10.9		%			11.1		%			11.6		%			12.8		%			11.4		%
On-balance sheet liquidity as a percentage of total tangible assets*	11.2		%			11.3		%			11.9		%			13.1		%			11.6		%
On-balance sheet liquidity and available sources of liquidity as a percentage of estimated uninsured and uncollateralized deposits(b)	255.0		%			264.8		%			245.0		%			289.5		%			283.4		%