FB Financial Corp 8-K, filed Oct 13, 2026
FB Financial Corp (FBK)
8-K
2026-10-13
For: 2026-10-13
View Original
Added on
October 13, 2026
About this 8-K
FB Financial Corp filed this 8-K on October 13, 2026.
Items reported
- Item 2.02: Financial results
- Item 7.01: Regulation FD disclosure
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of report (Date of earliest event reported): October 13, 2026
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification Number) | ||||||||||||
(Address of principal executive offices) (Zip Code)
(615 ) 564-1212
(Registrant’s telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions ( see General Instruction A.2. below):
| 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)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02. Results of Operations and Financial Condition.
On October 13, 2026, FB Financial Corporation (“FB Financial”) issued a press release announcing its financial results for the third quarter ended September 30, 2026 (the “Earnings Release”). A copy of the Earnings Release is furnished as Exhibit 99.1 to this current report on Form 8-K (this “Report”).
Item 7.01. Regulation FD Disclosure.
On October 13, 2026, FB Financial will host a conference call to discuss financial results for the quarter ended September 30, 2026.
On October 13, 2026, FB Financial made available on its website (investors.firstbankonline.com) supplemental financial information for the third quarter ended September 30, 2026 (the “Financial Supplement”) and an earnings release presentation (the “Earnings Presentation”) containing additional information about FB Financial’s financial results for the quarter ended September 30, 2026.
Copies of the Financial Supplement and the Earnings Presentation are furnished as Exhibit 99.2 and Exhibit 99.3, respectively, to this Report and incorporated by reference in this Item 7.01.
The information contained in this Report, including Exhibit 99.1, Exhibit 99.2 and Exhibit 99.3 furnished herewith, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities under that section, nor shall it be deemed incorporated by reference into any registration statement or other documents pursuant to the Securities Act of 1933, as amended, or into any filing or other document pursuant to the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Item 9.01. Financial Statements and Exhibits.
| Exhibit Number | Description of Exhibit | |||||||
| 104 | Cover Page Interactive Data File (formatted as inline XBRL document) | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| FB FINANCIAL CORPORATION | ||||||||
| By: | /s/ Michael M. Mettee | |||||||
| Michael M. Mettee | ||||||||
| Chief Financial Officer & Chief Operating Officer | ||||||||
| (Principal Financial Officer) | ||||||||
Date: October 13, 2026 | ||||||||
FB Financial Corporation Reports Third Quarter 2026 Financial Results
Reports Q3 Diluted EPS of $1.20, Adjusted Diluted EPS* of $1.21
Annualized Q3 Loan HFI and Deposit Growth of 9.7% and 8.8%, respectively
NASHVILLE, TENNESSEE—October 13, 2026—FB Financial Corporation (the “Company”) (NYSE: FBK), parent company of FirstBank, reported net income of $60.2 million, or $1.20 per diluted common share, for the third quarter of 2026, compared to $1.13 in the previous quarter and $0.43 in the third quarter of last year. Adjusted net income* was $60.9 million, or $1.21 per diluted common share, compared to $1.14 in the previous quarter and $1.07 in the third quarter of last year.
The Company ended the third quarter of 2026 with loans held for investment (“HFI”) of $13.18 billion compared to $12.87 billion at the end of the previous quarter, a 9.68% annualized increase, and $12.30 billion at the end of the third quarter of last year, a 7.17% increase. Deposits were $14.67 billion as of September 30, 2026, compared to $14.35 billion as of June 30, 2026, an 8.82% annualized increase, and $13.81 billion as of September 30, 2025, a 6.18% increase. Net interest margin (“NIM”) was 3.83% for the third quarter of 2026, compared to 3.95% in both the prior quarter and the third quarter of 2025. The Company ended the quarter with book value per common share of $39.11 and tangible book value per common share* of $31.50.
President and Chief Executive Officer, Christopher T. Holmes stated, “Our results reflect continued organic growth momentum and solid profitability metrics. Annualized loan growth (HFI) was 9.68% for the quarter, annualized client deposit growth was 11.0%, and annualized total deposit growth was 8.82% when we net out the decline in brokered deposits. We are encouraged by the quality of opportunities in front of us and the pipelines we see across the Company. In addition, our recent $125.0 million subordinated debt issuance provides added flexibility to support future growth. We remain focused on providing value to clients and creating long-term value for our shareholders.”
| Annualized | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| (dollars in thousands, except per share data) | Sep 2026 | Jun 2026 | Sep 2025 | Sep 26 / Jun 26 % Change | Sep 26 / Sep 25 % Change | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Balance Sheet Highlights | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Investment securities, at fair value | $ | 1,543,889 | $ | 1,527,093 | $ | 1,428,401 | 4.36 | % | 8.09 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Loans held for sale | 255,069 | 198,089 | 167,449 | 114.1 | % | 52.3 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Loans HFI | 13,179,564 | 12,865,510 | 12,297,600 | 9.68 | % | 7.17 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Allowance for credit losses on loans HFI | (193,960) | (194,010) | (184,993) | (0.10) | % | 4.85 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total assets | 17,093,991 | 16,796,101 | 16,236,459 | 7.04 | % | 5.28 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest-bearing deposits (non-brokered) | 11,262,198 | 10,886,056 | 10,634,555 | 13.7 | % | 5.90 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Brokered deposits | 626,687 | 685,902 | 487,765 | (34.3) | % | 28.5 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Noninterest-bearing deposits | 2,777,111 | 2,775,208 | 2,690,635 | 0.27 | % | 3.21 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total deposits | 14,665,996 | 14,347,166 | 13,812,955 | 8.82 | % | 6.18 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Borrowings | 265,390 | 314,513 | 213,638 | (62.0) | % | 24.2 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Allowance for credit losses on unfunded commitments | 16,116 | 15,859 | 17,392 | 6.43 | % | (7.34) | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total common shareholders’ equity | 1,933,646 | 1,936,531 | 1,978,043 | (0.59) | % | (2.24) | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Book value per common share | $ | 39.11 | $ | 38.75 | $ | 37.00 | 3.69 | % | 5.70 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Tangible book value per common share* | $ | 31.50 | $ | 31.19 | $ | 29.83 | 3.94 | % | 5.60 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total common shareholders’ equity to total assets | 11.3 | % | 11.5 | % | 12.2 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Tangible common equity to tangible assets* | 9.32 | % | 9.49 | % | 10.1 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
*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 Third Quarter 2026 Financial Supplement as Exhibit 99.2 to the Company’s Current Report on Form 8-K furnished to the SEC on October 13, 2026, and is also available at https://investors.firstbankonline.com. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
-MORE-
FB Financial Corporation
Third Quarter 2026 Results
Page 2
| Three Months Ended | |||||||||||||||||||||||||||||||||||||||||
| (dollars in thousands, except per share data) | Sep 2026 | Jun 2026 | Sep 2025 | ||||||||||||||||||||||||||||||||||||||
| Statement of Income Highlights | |||||||||||||||||||||||||||||||||||||||||
| Net interest income | $ | 149,946 | $ | 148,972 | $ | 147,240 | |||||||||||||||||||||||||||||||||||
| NIM (tax-equivalent basis) | 3.83 | % | 3.95 | % | 3.95 | % | |||||||||||||||||||||||||||||||||||
| Noninterest income | $ | 24,540 | $ | 25,780 | $ | 26,635 | |||||||||||||||||||||||||||||||||||
| (Loss) gain from securities, net | $ | (241) | $ | — | $ | 12 | |||||||||||||||||||||||||||||||||||
| Loss on sales or write-downs of premises and equipment, other real estate owned and other assets, net | $ | (34) | $ | (377) | $ | (646) | |||||||||||||||||||||||||||||||||||
| Total revenue | $ | 174,486 | $ | 174,752 | $ | 173,875 | |||||||||||||||||||||||||||||||||||
| Noninterest expense | $ | 96,034 | $ | 91,480 | $ | 109,856 | |||||||||||||||||||||||||||||||||||
| Loan subservicer transition costs | $ | 719 | $ | — | $ | — | |||||||||||||||||||||||||||||||||||
| (Gain) loss on lease terminations and other branch closure costs | $ | — | $ | (42) | $ | 270 | |||||||||||||||||||||||||||||||||||
| Merger and integration costs | $ | — | $ | — | $ | 16,057 | |||||||||||||||||||||||||||||||||||
| Efficiency ratio | 55.0 | % | 52.3 | % | 63.2 | % | |||||||||||||||||||||||||||||||||||
| Adjusted efficiency ratio* | 54.3 | % | 52.0 | % | 53.3 | % | |||||||||||||||||||||||||||||||||||
| Pre-tax pre-provision net revenue | $ | 78,452 | $ | 83,272 | $ | 64,019 | |||||||||||||||||||||||||||||||||||
| Adjusted pre-tax pre-provision net revenue* | $ | 79,446 | $ | 83,607 | $ | 80,980 | |||||||||||||||||||||||||||||||||||
| Provisions for credit losses | $ | 1,424 | $ | 10,116 | $ | 34,417 | |||||||||||||||||||||||||||||||||||
| Net charge-offs ratio | 0.04 | % | 0.06 | % | 0.05 | % | |||||||||||||||||||||||||||||||||||
| Net income applicable to FB Financial Corporation | $ | 60,202 | $ | 58,649 | $ | 23,375 | |||||||||||||||||||||||||||||||||||
| Diluted earnings per common share | $ | 1.20 | $ | 1.13 | $ | 0.43 | |||||||||||||||||||||||||||||||||||
| Effective tax rate | 21.8 | % | 19.8 | % | 21.0 | % | |||||||||||||||||||||||||||||||||||
| Adjusted net income* | $ | 60,937 | $ | 58,905 | $ | 57,606 | |||||||||||||||||||||||||||||||||||
| Adjusted diluted earnings per common share* | $ | 1.21 | $ | 1.14 | $ | 1.07 | |||||||||||||||||||||||||||||||||||
| Weighted average number of shares outstanding - fully diluted | 50,286,830 | 51,693,688 | 53,957,062 | ||||||||||||||||||||||||||||||||||||||
| Returns on average: | |||||||||||||||||||||||||||||||||||||||||
Return on average assets (“ROAA”) | 1.43 | % | 1.44 | % | 0.58 | % | |||||||||||||||||||||||||||||||||||
| Adjusted* | 1.44 | % | 1.45 | % | 1.43 | % | |||||||||||||||||||||||||||||||||||
| Return on average shareholders’ equity | 12.2 | % | 11.8 | % | 4.69 | % | |||||||||||||||||||||||||||||||||||
Return on average tangible common equity (“ROATCE”)* | 15.2 | % | 14.6 | % | 5.82 | % | |||||||||||||||||||||||||||||||||||
| Adjusted* | 15.7 | % | 15.0 | % | 14.7 | % | |||||||||||||||||||||||||||||||||||
*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 Third Quarter 2026 Financial Supplement as Exhibit 99.2 to the Company’s Current Report on Form 8-K furnished to the SEC on October 13, 2026, and is also available at https://investors.firstbankonline.com. | |||||||||||||||||||||||||||||||||||||||||
Balance Sheet and Net Interest Margin
The Company reported loans HFI of $13.18 billion at the end of the third quarter of 2026, compared to $12.87 billion at the end of the prior quarter. The contractual yield on loans HFI remained stable at 6.21% for the third quarter of 2026 compared to 6.22% for the previous quarter. Net loan growth was driven by increases in residential real estate loans, including growth of $133.6 million in 1-to-4 family mortgage loans, $41.6 million in multi-family mortgage loans, and $10.0 million in residential lines of credit. Commercial real estate loans increased $91.6 million, while construction loans and consumer and other loans increased by $19.5 million and $19.0 million, respectively.
The Company reported total deposits of $14.67 billion at the end of the third quarter compared to $14.35 billion at the end of the second quarter. The cost of interest-bearing deposits increased to 2.88% from 2.81% in the previous quarter. Total cost of deposits increased to 2.32% during the third quarter compared to 2.26% in the second quarter of 2026. Higher costs were driven primarily by increased pricing on interest-bearing deposits and continued deposit growth during the quarter. Noninterest-bearing deposits were $2.78 billion for both the third quarter of 2026 and the previous quarter.
The Company reported net interest income on a tax-equivalent basis of $150.8 million for the third quarter of 2026, an increase from $149.8 million in the prior quarter. NIM decreased to 3.83% for the third quarter from 3.95% in the prior quarter, reflecting higher funding costs relative to earning asset yields during the quarter. The decline in NIM also included a 3 basis point impact from the reversal of $1.0 million of previously accrued interest related to a nonaccrual loan. Net accretion from purchase accounting adjustments contributed 11 basis points to margin during the third quarter compared to 13 basis points in the prior quarter.
Holmes continued, “Our balance sheet continues to be shaped by long-term client relationships and a relationship-based approach to banking. That client-driven foundation provides stability, flexibility and the capacity to pursue opportunities across our markets. We are encouraged by the activity we see throughout our footprint and by the value we are creating by growing our client base.”
-MORE-
FB Financial Corporation
Third Quarter 2026 Results
Page 3
Noninterest Income
Noninterest income was $24.5 million for the third quarter of 2026, compared to $25.8 million in the prior quarter and $26.6 million in the third quarter of 2025. Adjusted noninterest income* was $24.8 million for the third quarter of 2026, compared to $26.2 million and $27.3 million for the prior quarter and the third quarter of 2025, respectively.
Mortgage banking income was $9.4 million in the third quarter of 2026, compared to $11.2 million in the prior quarter and $13.5 million in the third quarter of 2025.
Noninterest Expense
Noninterest expense was $96.0 million during the third quarter of 2026 compared to $91.5 million in the prior quarter and $109.9 million in the third quarter of 2025. Adjusted noninterest expense* was $95.3 million, compared to $91.5 million and $93.5 million in the prior quarter and third quarter of 2025, respectively. The Company's efficiency ratio was 55.0%, compared to 52.3% in the prior quarter and 63.2% in the third quarter of 2025, while the adjusted efficiency ratio* was 54.3%, compared to 52.0% and 53.3%, respectively.
Chief Financial Officer and Chief Operating Officer, Michael Mettee commented, “The third quarter reflected continued momentum in loan and deposit production and meaningful balance sheet growth. Operating leverage was impacted by lower mortgage banking profitability, margin pressure and our continued investments in growth initiatives. We remain focused on disciplined expense management and believe the investments we are making today position us to deliver improved earnings growth and operating leverage over time.”
Credit Quality
In the third quarter, the Company recorded provision expense of $1.2 million related to loans HFI and $0.3 million associated with unfunded loan commitments. At the end of the third quarter of 2026, the Company had an allowance for credit losses on loans HFI of $194.0 million, representing 1.47% of loans HFI compared to $194.0 million, or 1.51% of loans HFI, at the end of the prior quarter.
The Company had net charge-offs of $1.2 million in the third quarter of 2026, representing annualized net charge-offs of 0.04% of average loans HFI, compared to 0.06% in the prior quarter and 0.05% in the third quarter of 2025.
The Company’s nonperforming loans HFI as a percentage of total loans HFI were 1.18% as of the end of the third quarter of 2026, compared to 1.17% in the prior quarter and 0.94% in the third quarter of 2025. Nonperforming assets as a percentage of total assets were 1.13% as of the end of the third quarter of 2026, compared to 1.14% as of the end of the prior quarter and 0.89% as of the end of the third quarter of 2025.
Holmes commented, “Overall credit performance remained strong during the third quarter, with stable asset quality metrics and low net charge-offs. Our consistent approach to underwriting and portfolio management continues to support favorable credit outcomes. Our reserve position and strong credit culture provide a solid foundation to support continued growth while prudently managing risk.”
Capital
The Company maintained its strong capital position in the third quarter, resulting in a preliminary total risk-based capital ratio of 13.6%, preliminary common equity tier 1 ratio of 11.0% and tangible common equity to tangible assets ratio* of 9.32%. The Company repurchased 545,214 shares during the quarter.
Holmes continued, “We remain disciplined in deploying capital while delivering attractive returns to shareholders. During the quarter, we completed a $125.0 million subordinated debt issuance at a spread of 180 basis points over the five-year U.S. Treasury yield, reflecting strong investor demand and confidence in our long-term strategy. We also repurchased $29.3 million of common stock during the quarter, returning capital to shareholders while also maintaining ample capital for financial flexibility. Together, these actions reinforce our commitment to long-term shareholder value.”
Summary
Holmes concluded, “We are pleased with the Company’s growth rate and profitability levels, especially relative to firms similar to ours. Our results reflect the strength of our client relationships, the commitment of our associates and the attractive markets we serve. We are encouraged by the opportunities in front of us and confident in our ability to continue supporting our customers and communities. As we look ahead, our focus remains on growing the franchise and creating long-term shareholder value.”
-MORE-
FB Financial Corporation
Third Quarter 2026 Results
Page 4
WEBCAST AND CONFERENCE CALL INFORMATION
FB Financial Corporation will host a conference call to discuss the Company’s financial results on October 13, 2026, at 8:00 a.m. (Central Time). To listen to the call, participants should dial 1-877-883-0383 (confirmation code 2443338) approximately 10 minutes prior to the call. A telephonic replay will be available approximately two hours after the call through October 20, 2026, by dialing 1-855-669-9658 and entering confirmation code 8724700.
A live online broadcast of the Company’s quarterly conference call will be available online at https://event.choruscall.com/mediaframe/webcast.html?webcastid=T6DGcoVU. An online replay will be available on the Company’s website approximately two hours after the conclusion of the call and will remain available for 12 months.
ABOUT FB FINANCIAL CORPORATION
FB Financial Corporation (NYSE: FBK) is a financial holding company headquartered in Nashville, Tennessee. FB Financial Corporation operates through its wholly owned banking subsidiary, FirstBank, in Tennessee, Kentucky, Alabama, Georgia and North Carolina. FB Financial Corporation has approximately $17.1 billion in total assets and operates 91 full-service bank branches across its footprint.
MEDIA CONTACT: | FINANCIAL CONTACT: | |||||||
| Keith Hancock | Michael Mettee | |||||||
| 404-310-2368 | 615-435-0952 | |||||||
| keith.hancock@firstbankonline.com | mmettee@firstbankonline.com | |||||||
www.firstbankonline.com | investorrelations@firstbankonline.com | |||||||
SUPPLEMENTAL FINANCIAL INFORMATION AND EARNINGS PRESENTATION
Investors are encouraged to review this Earnings Release in conjunction with the Third Quarter 2026 Financial Supplement and Earnings Presentation posted on the Company’s website, which can be found at https://investors.firstbankonline.com. This Earnings Release, the Third Quarter 2026 Financial Supplement and the Earnings Presentation are also included with a Current Report on Form 8-K that the Company furnished to the U.S. Securities and Exchange Commission (“SEC”) on October 13, 2026.
FORWARD-LOOKING STATEMENTS
Certain statements contained in this Earnings Release that are not historical in nature may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements represent the Company’s current expectations, plans or forecasts of its or its business segments’ future results, which may include, among other measures, revenue, liquidity, net interest income, other income, provision for credit losses, expenses, operating leverage, effective tax rate, efficiency ratio, capital measures, deposits and assets, as well as strategy, future business and economic conditions more generally, and other future matters. 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,” 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 the Company’s control. The inclusion of these forward-looking statements should not be regarded as a representation by the Company or any other person that such expectations, estimates, and projections will be achieved. Accordingly, the Company 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 global supply chain, supply-demand imbalances affecting local real estate prices, and high unemployment rates in the local or regional economies in which the Company operates and/or the US economy generally, (2) changes or the lack of changes in government interest rate policies and the associated impact on the Company’s business, net interest margin, funding costs, and mortgage operations, (3) increased competition for loans and deposits and the Company’s ability to sustain loan and deposit growth, (4) changes in the quality or composition of the Company’s loan or investment portfolios, including adverse developments in borrower industries or in the repayment ability of individual borrowers or issuers of investment securities, the impact of interest rates on the value of the Company’s investment securities portfolio, or the adequacy of the Company’s allowance for credit losses, (5) any deterioration in commercial real estate market fundamentals, (6) the Company’s ability to identify potential candidates for, consummate, and achieve synergies from acquisitions, including risks that cost savings and other synergies from completed or future acquisitions may not be realized (or may be less than or delayed from expectations), challenges in integrating acquired businesses, disruptions to customer, employee, or other relationships, diversion of management attention, and the ability to effectively manage larger or more complex operations post-
-MORE-
FB Financial Corporation
Third Quarter 2026 Results
Page 5
transaction, (7) the Company’s ability to manage any unexpected outflows of uninsured deposits and to avoid selling investment securities or other assets at an unfavorable time or at a loss, (8) the Company’s ability to successfully execute its various business strategies, including its investments in talent and growth initiatives and the effect of those investments on expenses and operating leverage, (9) changes in state and federal legislation, regulations or policies applicable to banks and other financial service providers, and changes in accounting standards, (10) the effectiveness of the Company’s controls and procedures to detect, prevent, mitigate and otherwise manage the risk of fraud or misconduct by internal or external parties, including attempted physical-security and cybersecurity attacks, denial-of-service attacks, hacking, phishing, social-engineering attacks, malware intrusion, data-corruption attempts, system breaches, identity theft, ransomware attacks, environmental conditions, and intentional acts of destruction, (11) the Company’s dependence on information technology systems of third-party service providers and the risk of systems failures, interruptions, or breaches of security, (12) the impact, extent and timing of technological changes, including the adoption and use of artificial intelligence and other emerging technologies, (13) concentrations of credit or deposit exposure, (14) the impact of natural disasters, pandemics, acts or escalation of war or acts of terrorism, or other catastrophic events, (15) events giving rise to international or regional political instability, including the broader impacts of such events on financial markets and/or global macroeconomic environments, (16) the Company’s ability to attract and retain key employees in a competitive labor market, (17) the Company’s ability to access capital and liquidity on terms acceptable to the Company, to effectively deploy capital, including the proceeds of its recent subordinated debt issuance, and the amount and timing of any future share repurchases, (18) changes to the Company’s preliminary regulatory capital ratios as they are finalized, and/or (19) general competitive, economic, political, and market conditions. Further information regarding the Company and factors which could affect the forward-looking statements contained herein can be found in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, and in any of the Company’s subsequent filings with the SEC. Many of these factors are beyond the Company’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 Earnings Release, and the Company 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 the Company to predict their occurrence or how they will affect the Company.
The Company qualifies all forward-looking statements by these cautionary statements.
GAAP RECONCILIATION AND USE OF NON-GAAP FINANCIAL MEASURES
This Earnings Release contains certain financial measures that are not measures recognized under U.S. generally accepted accounting principles (“GAAP”) and therefore are considered non-GAAP financial measures. These non-GAAP financial measures may include, without limitation, adjusted net income, adjusted diluted earnings per common share, adjusted pre-tax pre-provision net revenue, consolidated and segment adjusted revenue, consolidated and segment adjusted noninterest expense and adjusted noninterest income, consolidated and segment adjusted efficiency ratio (tax-equivalent basis), and adjusted return on average assets and equity. Each of these non-GAAP metrics excludes certain income and expense items that the Company’s management considers to be adjusted in nature. The Company refers to these non-GAAP measures as adjusted measures. Also, the Company presents tangible assets, tangible common equity, tangible book value per common share, tangible common equity to tangible assets, return on average tangible common equity, and adjusted return on average tangible common equity. Each of these non-GAAP metrics excludes the impact of goodwill and other intangibles.
The Company’s management uses these non-GAAP financial measures in their analysis of the Company’s performance, financial condition and the efficiency of its operations as management believes such measures facilitate period-to-period comparisons and provide meaningful indications of the Company’s operating performance as they eliminate both gains and charges that management views as non-recurring or not indicative of operating performance. Management believes that these non-GAAP financial measures provide a greater understanding of ongoing operations and enhance comparability of results with prior periods as well as demonstrate the effects of significant gains and charges excluded from the adjusted measures in the current and prior periods. The Company’s management also believes that investors find these non-GAAP financial measures useful as they assist investors in understanding the Company’s underlying operating performance and in the analysis of ongoing operating trends. In addition, because intangible assets such as goodwill and the other items excluded each vary extensively from company to company, the Company believes that the presentation of this information allows investors to more easily compare the Company’s results to the results of other companies. However, the non-GAAP financial measures discussed herein should not be considered in isolation or as a substitute for the most directly comparable or other financial measures calculated in accordance with GAAP. Moreover, the manner in which the Company calculates the non-GAAP financial measures discussed herein may differ from that of other companies reporting measures with similar names. Investors should understand how such other banking organizations calculate their financial measures with names similar to the non-GAAP financial measures the Company has discussed herein when comparing such non-GAAP financial measures.
-MORE-
FB Financial Corporation
Third Quarter 2026 Results
Page 6
A reconciliation of these non-GAAP measures to the most directly comparable GAAP financial measures is included in the Company’s Third Quarter 2026 Financial Supplement as Exhibit 99.2 to the Company’s Current Report on Form 8-K furnished to the SEC on October 13, 2026 and is also available at https://investors.firstbankonline.com.
-MORE-
FB Financial Corporation
Third Quarter 2026 Results
Page 7
| Financial Summary and Key Metrics | ||||||||||||||||||||||||||||||||||||||
| (Unaudited) | ||||||||||||||||||||||||||||||||||||||
| (dollars in thousands, except per share data) | ||||||||||||||||||||||||||||||||||||||
| As of or for the Three Months Ended | ||||||||||||||||||||||||||||||||||||||
| Sep 2026 | Jun 2026 | Sep 2025 | ||||||||||||||||||||||||||||||||||||
| Selected Balance Sheet Data | ||||||||||||||||||||||||||||||||||||||
| Cash and cash equivalents | $ | 1,017,689 | $ | 1,112,357 | $ | 1,280,033 | ||||||||||||||||||||||||||||||||
| Investment securities, at fair value | 1,543,889 | 1,527,093 | 1,428,401 | |||||||||||||||||||||||||||||||||||
| Loans held for sale | 255,069 | 198,089 | 167,449 | |||||||||||||||||||||||||||||||||||
| Loans HFI | 13,179,564 | 12,865,510 | 12,297,600 | |||||||||||||||||||||||||||||||||||
| Allowance for credit losses on loans HFI | (193,960) | (194,010) | (184,993) | |||||||||||||||||||||||||||||||||||
| Total assets | 17,093,991 | 16,796,101 | 16,236,459 | |||||||||||||||||||||||||||||||||||
| Interest-bearing deposits (non-brokered) | 11,262,198 | 10,886,056 | 10,634,555 | |||||||||||||||||||||||||||||||||||
| Brokered deposits | 626,687 | 685,902 | 487,765 | |||||||||||||||||||||||||||||||||||
| Noninterest-bearing deposits | 2,777,111 | 2,775,208 | 2,690,635 | |||||||||||||||||||||||||||||||||||
| Total deposits | 14,665,996 | 14,347,166 | 13,812,955 | |||||||||||||||||||||||||||||||||||
| Borrowings | 265,390 | 314,513 | 213,638 | |||||||||||||||||||||||||||||||||||
| Allowance for credit losses on unfunded commitments | 16,116 | 15,859 | 17,392 | |||||||||||||||||||||||||||||||||||
| Total common shareholders’ equity | 1,933,646 | 1,936,531 | 1,978,043 | |||||||||||||||||||||||||||||||||||
| Selected Statement of Income Data | ||||||||||||||||||||||||||||||||||||||
| Total interest income | $ | 236,107 | $ | 229,438 | $ | 236,898 | ||||||||||||||||||||||||||||||||
| Total interest expense | 86,161 | 80,466 | 89,658 | |||||||||||||||||||||||||||||||||||
| Net interest income | 149,946 | 148,972 | 147,240 | |||||||||||||||||||||||||||||||||||
| Total noninterest income | 24,540 | 25,780 | 26,635 | |||||||||||||||||||||||||||||||||||
| Total noninterest expense | 96,034 | 91,480 | 109,856 | |||||||||||||||||||||||||||||||||||
| Earnings before income taxes and provisions for credit losses | 78,452 | 83,272 | 64,019 | |||||||||||||||||||||||||||||||||||
| Provisions for credit losses | 1,424 | 10,116 | 34,417 | |||||||||||||||||||||||||||||||||||
| Income tax expense | 16,826 | 14,499 | 6,227 | |||||||||||||||||||||||||||||||||||
| Net income applicable to noncontrolling interest | — | 8 | — | |||||||||||||||||||||||||||||||||||
| Net income applicable to FB Financial Corporation | $ | 60,202 | $ | 58,649 | $ | 23,375 | ||||||||||||||||||||||||||||||||
| Net interest income (tax-equivalent basis) | $ | 150,807 | $ | 149,788 | $ | 148,088 | ||||||||||||||||||||||||||||||||
| Adjusted net income* | $ | 60,937 | $ | 58,905 | $ | 57,606 | ||||||||||||||||||||||||||||||||
| Adjusted pre-tax, pre-provision net revenue* | $ | 79,446 | $ | 83,607 | $ | 80,980 | ||||||||||||||||||||||||||||||||
| Per Common Share | ||||||||||||||||||||||||||||||||||||||
| Diluted net income | $ | 1.20 | $ | 1.13 | $ | 0.43 | ||||||||||||||||||||||||||||||||
| Adjusted diluted net income* | 1.21 | 1.14 | 1.07 | |||||||||||||||||||||||||||||||||||
| Book value | 39.11 | 38.75 | 37.00 | |||||||||||||||||||||||||||||||||||
| Tangible book value* | 31.50 | 31.19 | 29.83 | |||||||||||||||||||||||||||||||||||
| Weighted average number of shares outstanding - fully diluted | 50,286,830 | 51,693,688 | 53,957,062 | |||||||||||||||||||||||||||||||||||
| Period-end number of shares | 49,443,360 | 49,976,755 | 53,456,522 | |||||||||||||||||||||||||||||||||||
| Selected Ratios | ||||||||||||||||||||||||||||||||||||||
| Return on average: | ||||||||||||||||||||||||||||||||||||||
| Assets | 1.43 | % | 1.44 | % | 0.58 | % | ||||||||||||||||||||||||||||||||
| Shareholders’ equity | 12.2 | % | 11.8 | % | 4.69 | % | ||||||||||||||||||||||||||||||||
| Tangible common equity* | 15.2 | % | 14.6 | % | 5.82 | % | ||||||||||||||||||||||||||||||||
| Efficiency ratio | 55.0 | % | 52.3 | % | 63.2 | % | ||||||||||||||||||||||||||||||||
| Adjusted efficiency ratio (tax-equivalent basis)* | 54.3 | % | 52.0 | % | 53.3 | % | ||||||||||||||||||||||||||||||||
| Loans HFI to deposit ratio | 89.9 | % | 89.7 | % | 89.0 | % | ||||||||||||||||||||||||||||||||
| Noninterest-bearing deposits to total deposits | 18.9 | % | 19.3 | % | 19.5 | % | ||||||||||||||||||||||||||||||||
| Net interest margin (tax-equivalent basis) | 3.83 | % | 3.95 | % | 3.95 | % | ||||||||||||||||||||||||||||||||
| Yield on interest-earning assets | 6.02 | % | 6.07 | % | 6.35 | % | ||||||||||||||||||||||||||||||||
| Cost of interest-bearing liabilities | 2.91 | % | 2.84 | % | 3.21 | % | ||||||||||||||||||||||||||||||||
| Cost of total deposits | 2.32 | % | 2.26 | % | 2.53 | % | ||||||||||||||||||||||||||||||||
| Credit Quality Ratios | ||||||||||||||||||||||||||||||||||||||
| Allowance for credit losses on loans HFI as a percentage of loans HFI | 1.47 | % | 1.51 | % | 1.50 | % | ||||||||||||||||||||||||||||||||
| Annualized net charge-offs as a percentage of average loans HFI | 0.04 | % | 0.06 | % | 0.05 | % | ||||||||||||||||||||||||||||||||
| Nonperforming loans HFI as a percentage of loans HFI | 1.18 | % | 1.17 | % | 0.94 | % | ||||||||||||||||||||||||||||||||
Nonperforming assets as a percentage of total assets | 1.13 | % | 1.14 | % | 0.89 | % | ||||||||||||||||||||||||||||||||
| Preliminary Capital Ratios (consolidated) | ||||||||||||||||||||||||||||||||||||||
| Total common shareholders’ equity to assets | 11.3 | % | 11.5 | % | 12.2 | % | ||||||||||||||||||||||||||||||||
| Tangible common equity to tangible assets* | 9.32 | % | 9.49 | % | 10.1 | % | ||||||||||||||||||||||||||||||||
| Tier 1 leverage | 10.0 | % | 10.1 | % | 10.6 | % | ||||||||||||||||||||||||||||||||
Tier 1 risk-based capital | 11.0 | % | 11.0 | % | 11.7 | % | ||||||||||||||||||||||||||||||||
Total risk-based capital | 13.6 | % | 12.9 | % | 13.6 | % | ||||||||||||||||||||||||||||||||
Common equity Tier 1 | 11.0 | % | 11.0 | % | 11.7 | % | ||||||||||||||||||||||||||||||||
*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 Third Quarter 2026 Financial Supplement as Exhibit 99.2 to the Company’s Current Report on Form 8-K furnished to the SEC on October 13, 2026, and is also available at https://investors.firstbankonline.com.
-END-
Third Quarter 2026
Financial Supplement
Current-period information is preliminary and based on company data available at the time of the earnings presentation. It speaks only as of the particular date or dates included in the accompanying pages. FB Financial Corporation (FB Financial) does not undertake an obligation to, and disclaims any duty to, update any of the information provided. Any forward-looking statements in this information are subject to the forward-looking language contained in FB Financial’s reports filed with the SEC pursuant to the Securities Exchange Act of 1934, which are available at the SEC’s website (www.sec.gov*) or at FB Financial’s website (https://investors.firstbankonline.com *). FB Financial’s future financial performance is subject to risks and uncertainties as described in its SEC filings.
* Website content is not incorporated by reference into this Financial Supplement.
TABLE OF CONTENTS
| Page | ||||||||
| Financial Summary and Key Metrics | ||||||||
| Consolidated Statements of Income | ||||||||
| Consolidated Balance Sheets | ||||||||
| Average Balance and Interest Yield/Rate Analysis | ||||||||
| Investments and Other Sources of Liquidity | ||||||||
| Loan Portfolio | ||||||||
| Asset Quality | ||||||||
| Selected Deposit Data | ||||||||
| Preliminary Capital Ratios | ||||||||
| Segment Data | ||||||||
| Non-GAAP Reconciliations | ||||||||
Use of non-GAAP Financial Measures
This Financial Supplement contains certain financial measures that are not measures recognized under U.S. generally accepted accounting principles (“GAAP”) and therefore are considered non-GAAP financial measures. These non-GAAP financial measures may include, without limitation, adjusted net income, adjusted diluted earnings per common share, adjusted pre-tax pre-provision net revenue, consolidated and segment adjusted revenue, consolidated and segment adjusted noninterest expense and adjusted noninterest income, consolidated and segment adjusted efficiency ratio (tax-equivalent basis), adjusted return on average assets and equity, and adjusted pre-tax pre-provision return on average assets. Each of these non-GAAP metrics excludes certain income and expense items that the Company’s management does not consider indicative of the Company's ongoing operating performance. The Company refers to these non-GAAP measures as adjusted measures. Also, the Company presents tangible assets, tangible common equity, tangible book value per common share, tangible common equity to tangible assets, on-balance sheet liquidity to tangible assets, return on average tangible common equity, and adjusted return on average tangible common equity. Each of these non-GAAP metrics excludes the impact of goodwill and other intangibles.
The Company’s management uses these non-GAAP financial measures in their analysis of the Company’s performance, financial condition and the efficiency of its operations as management believes such measures facilitate period-to-period comparisons and provide meaningful indications of the Company’s operating performance as they eliminate both gains and charges that management views as non-recurring or not indicative of operating performance. Management believes that these non-GAAP financial measures provide a greater understanding of ongoing operations and enhance comparability of results with prior periods as well as demonstrate the effects of significant gains and charges excluded from the adjusted measures in the current and prior periods. The Company’s management also believes that investors find these non-GAAP financial measures useful as they assist investors in understanding the Company’s underlying operating performance and in the analysis of ongoing operating trends. In addition, because intangible assets such as goodwill and the other items excluded each vary extensively from company to company, the Company believes that the presentation of this information allows investors to more easily compare the Company’s results to the results of other companies. However, the non-GAAP financial measures discussed herein should not be considered in isolation or as a substitute for the most directly comparable or other financial measures calculated in accordance with GAAP. Moreover, the manner in which the Company calculates the non-GAAP financial measures discussed herein may differ from that of other companies reporting measures with similar names. Investors should understand how such other banking organizations calculate their financial measures with names similar to the non-GAAP financial measures the Company has discussed herein when comparing such non-GAAP financial measures. See the corresponding non-GAAP reconciliation tables below in this Financial Supplement for additional discussion and reconciliation of these measures to the most directly comparable GAAP financial measures.
| Financial Summary and Key Metrics | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| (Unaudited) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| (Dollars in Thousands, Except Per Share Data) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| As of or for the Three Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Selected Balance Sheet Data | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cash and cash equivalents | $ | 1,017,689 | $ | 1,112,357 | $ | 1,157,763 | $ | 1,155,895 | $ | 1,280,033 | ||||||||||||||||||||||||||||||||||||||||||||||
| Investment securities, at fair value | 1,543,889 | 1,527,093 | 1,498,547 | 1,459,734 | 1,428,401 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Loans held for sale | 255,069 | 198,089 | 231,359 | 201,076 | 167,449 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Loans HFI | 13,179,564 | 12,865,510 | 12,503,815 | 12,383,626 | 12,297,600 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Allowance for credit losses on loans HFI | (193,960) | (194,010) | (186,324) | (185,983) | (184,993) | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Total assets | 17,093,991 | 16,796,101 | 16,468,439 | 16,300,292 | 16,236,459 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest-bearing deposits (non-brokered) | 11,262,198 | 10,886,056 | 10,838,139 | 10,649,932 | 10,634,555 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Brokered deposits | 626,687 | 685,902 | 574,216 | 625,634 | 487,765 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Noninterest-bearing deposits | 2,777,111 | 2,775,208 | 2,664,480 | 2,634,395 | 2,690,635 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Total deposits | 14,665,996 | 14,347,166 | 14,076,835 | 13,909,961 | 13,812,955 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Borrowings | 265,390 | 314,513 | 213,188 | 212,764 | 213,638 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Allowance for credit losses on unfunded commitments | 16,116 | 15,859 | 15,398 | 16,196 | 17,392 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Total common shareholders' equity | 1,933,646 | 1,936,531 | 1,973,873 | 1,948,165 | 1,978,043 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Selected Statement of Income Data | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total interest income | $ | 236,107 | $ | 229,438 | $ | 225,350 | $ | 235,238 | $ | 236,898 | ||||||||||||||||||||||||||||||||||||||||||||||
| Total interest expense | 86,161 | 80,466 | 79,385 | 85,434 | 89,658 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Net interest income | 149,946 | 148,972 | 145,965 | 149,804 | 147,240 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Total noninterest income | 24,540 | 25,780 | 26,375 | 28,795 | 26,635 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Total noninterest expense | 96,034 | 91,480 | 95,164 | 107,548 | 109,856 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Earnings before income taxes and provisions for credit losses | 78,452 | 83,272 | 77,176 | 71,051 | 64,019 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Provisions for credit losses | 1,424 | 10,116 | 3,024 | 1,232 | 34,417 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Income tax expense | 16,826 | 14,499 | 16,626 | 12,834 | 6,227 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Net income applicable to noncontrolling interest | — | 8 | — | 8 | — | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Net income applicable to FB Financial Corporation | $ | 60,202 | $ | 58,649 | $ | 57,526 | $ | 56,977 | $ | 23,375 | ||||||||||||||||||||||||||||||||||||||||||||||
| Net interest income (tax-equivalent basis) | $ | 150,807 | $ | 149,788 | $ | 146,774 | $ | 150,642 | $ | 148,088 | ||||||||||||||||||||||||||||||||||||||||||||||
| Adjusted net income* | $ | 60,937 | $ | 58,905 | $ | 58,271 | $ | 61,494 | $ | 57,606 | ||||||||||||||||||||||||||||||||||||||||||||||
| Adjusted pre-tax, pre-provision net revenue* | $ | 79,446 | $ | 83,607 | $ | 78,184 | $ | 77,118 | $ | 80,980 | ||||||||||||||||||||||||||||||||||||||||||||||
| Per Common Share | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Diluted net income | $ | 1.20 | $ | 1.13 | $ | 1.10 | $ | 1.07 | $ | 0.43 | ||||||||||||||||||||||||||||||||||||||||||||||
| Adjusted diluted net income* | 1.21 | 1.14 | 1.12 | 1.16 | 1.07 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Book value | 39.11 | 38.75 | 38.39 | 37.64 | 37.00 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Tangible book value* | 31.50 | 31.19 | 31.00 | 30.27 | 29.83 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Weighted average number of shares outstanding - fully diluted | 50,286,830 | 51,693,688 | 52,203,469 | 53,074,753 | 53,957,062 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Period-end number of shares | 49,443,360 | 49,976,755 | 51,418,024 | 51,752,401 | 53,456,522 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Selected Ratios | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Return on average: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Assets | 1.43 | % | 1.44 | % | 1.43 | % | 1.40 | % | 0.58 | % | ||||||||||||||||||||||||||||||||||||||||||||||
| Shareholders’ equity | 12.2 | % | 11.8 | % | 11.9 | % | 11.6 | % | 4.69 | % | ||||||||||||||||||||||||||||||||||||||||||||||
| Tangible common equity* | 15.2 | % | 14.6 | % | 14.7 | % | 14.4 | % | 5.82 | % | ||||||||||||||||||||||||||||||||||||||||||||||
| Efficiency ratio | 55.0 | % | 52.3 | % | 55.2 | % | 60.2 | % | 63.2 | % | ||||||||||||||||||||||||||||||||||||||||||||||
| Adjusted efficiency ratio (tax-equivalent basis)* | 54.3 | % | 52.0 | % | 54.3 | % | 56.3 | % | 53.3 | % | ||||||||||||||||||||||||||||||||||||||||||||||
| Loans HFI to deposit ratio | 89.9 | % | 89.7 | % | 88.8 | % | 89.0 | % | 89.0 | % | ||||||||||||||||||||||||||||||||||||||||||||||
| Noninterest-bearing deposits to total deposits | 18.9 | % | 19.3 | % | 18.9 | % | 18.9 | % | 19.5 | % | ||||||||||||||||||||||||||||||||||||||||||||||
| Net interest margin (NIM) (tax-equivalent basis) | 3.83 | % | 3.95 | % | 3.94 | % | 3.98 | % | 3.95 | % | ||||||||||||||||||||||||||||||||||||||||||||||
| Yield on interest-earning assets | 6.02 | % | 6.07 | % | 6.07 | % | 6.23 | % | 6.35 | % | ||||||||||||||||||||||||||||||||||||||||||||||
| Cost of interest-bearing liabilities | 2.91 | % | 2.84 | % | 2.83 | % | 3.02 | % | 3.21 | % | ||||||||||||||||||||||||||||||||||||||||||||||
| Cost of total deposits | 2.32 | % | 2.26 | % | 2.27 | % | 2.40 | % | 2.53 | % | ||||||||||||||||||||||||||||||||||||||||||||||
| Credit Quality Ratios | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Allowance for credit losses on loans HFI as a percentage of loans HFI | 1.47 | % | 1.51 | % | 1.49 | % | 1.50 | % | 1.50 | % | ||||||||||||||||||||||||||||||||||||||||||||||
| Annualized net charge-offs as a percentage of average loans HFI | 0.04 | % | 0.06 | % | 0.11 | % | 0.05 | % | 0.05 | % | ||||||||||||||||||||||||||||||||||||||||||||||
| Nonperforming loans HFI as a percentage of loans HFI | 1.18 | % | 1.17 | % | 0.96 | % | 0.97 | % | 0.94 | % | ||||||||||||||||||||||||||||||||||||||||||||||
| Nonperforming assets as a percentage of total assets | 1.13 | % | 1.14 | % | 0.98 | % | 0.97 | % | 0.89 | % | ||||||||||||||||||||||||||||||||||||||||||||||
| Preliminary Capital Ratios (consolidated) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total common shareholders’ equity to assets | 11.3 | % | 11.5 | % | 12.0 | % | 12.0 | % | 12.2 | % | ||||||||||||||||||||||||||||||||||||||||||||||
| Tangible common equity to tangible assets* | 9.32 | % | 9.49 | % | 9.91 | % | 9.84 | % | 10.1 | % | ||||||||||||||||||||||||||||||||||||||||||||||
| Tier 1 leverage | 10.0 | % | 10.1 | % | 10.4 | % | 10.3 | % | 10.6 | % | ||||||||||||||||||||||||||||||||||||||||||||||
| Tier 1 risk-based capital | 11.0 | % | 11.0 | % | 11.5 | % | 11.4 | % | 11.7 | % | ||||||||||||||||||||||||||||||||||||||||||||||
| Total risk-based capital | 13.6 | % | 12.9 | % | 13.4 | % | 13.2 | % | 13.6 | % | ||||||||||||||||||||||||||||||||||||||||||||||
| Common equity Tier 1 | 11.0 | % | 11.0 | % | 11.5 | % | 11.4 | % | 11.7 | % | ||||||||||||||||||||||||||||||||||||||||||||||
*This represents a non-GAAP financial measure; See “Use of non-GAAP Financial Measures”and non-GAAP reconciliations herein.
| FB Financial Corporation | 4 | |||||||
| Consolidated Statements of Income | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| (Unaudited) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| (Dollars in Thousands, Except Per Share Data) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Sep 2026 | Sep 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| vs. | vs. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Three Months Ended | Jun 2026 | Sep 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Percent variance | Percent variance | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest income: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest and fees on loans | $ | 212,308 | $ | 206,434 | $ | 201,257 | $ | 209,734 | $ | 209,307 | 2.85 | % | 1.43 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest on investment securities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Taxable | 14,289 | 13,804 | 13,575 | 14,380 | 14,395 | 3.51 | % | (0.74) | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Tax-exempt | 1,067 | 1,066 | 1,054 | 1,058 | 1,058 | 0.09 | % | 0.85 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other | 8,443 | 8,134 | 9,464 | 10,066 | 12,138 | 3.80 | % | (30.4) | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total interest income | 236,107 | 229,438 | 225,350 | 235,238 | 236,898 | 2.91 | % | (0.33) | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest expense: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deposits | 84,406 | 78,768 | 77,878 | 83,813 | 86,577 | 7.16 | % | (2.51) | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Borrowings | 1,755 | 1,698 | 1,507 | 1,621 | 3,081 | 3.36 | % | (43.0) | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total interest expense | 86,161 | 80,466 | 79,385 | 85,434 | 89,658 | 7.08 | % | (3.90) | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net interest income | 149,946 | 148,972 | 145,965 | 149,804 | 147,240 | 0.65 | % | 1.84 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Provision for credit losses on loans HFI | 1,167 | 9,655 | 3,822 | 2,428 | 29,957 | (87.9) | % | (96.1) | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Provision for (reversal of) credit losses on unfunded commitments | 257 | 461 | (798) | (1,196) | 4,460 | (44.3) | % | (94.2) | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net interest income after provisions for credit losses | 148,522 | 138,856 | 142,941 | 148,572 | 112,823 | 6.96 | % | 31.6 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Noninterest income: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Mortgage banking income | 9,425 | 11,170 | 12,253 | 13,505 | 13,484 | (15.6) | % | (30.1) | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Investment services and trust income | 4,931 | 4,517 | 4,348 | 4,473 | 4,227 | 9.17 | % | 16.7 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Service charges on deposit accounts | 4,484 | 4,468 | 4,376 | 4,184 | 4,049 | 0.36 | % | 10.7 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ATM and interchange fees | 3,262 | 3,274 | 2,977 | 3,146 | 3,388 | (0.37) | % | (3.72) | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| (Loss) gain from securities, net | (241) | — | 1 | 64 | 12 | NM | (2,108.3) | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Loss on sales or write-downs of premises and equipment, other real estate owned and other assets, net | (34) | (377) | (320) | (131) | (646) | (91.0) | % | (94.7) | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other income | 2,713 | 2,728 | 2,740 | 3,554 | 2,121 | (0.55) | % | 27.9 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total noninterest income | 24,540 | 25,780 | 26,375 | 28,795 | 26,635 | (4.81) | % | (7.87) | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total revenue | 174,486 | 174,752 | 172,340 | 178,599 | 173,875 | (0.15) | % | 0.35 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Noninterest expenses: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Salaries, commissions and employee benefits | 56,054 | 53,332 | 57,348 | 63,529 | 59,210 | 5.10 | % | (5.33) | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Occupancy and equipment expense | 7,576 | 7,617 | 7,476 | 7,239 | 7,539 | (0.54) | % | 0.49 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Advertising | 3,013 | 2,556 | 2,148 | 2,464 | 2,453 | 17.9 | % | 22.8 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Data processing | 2,562 | 2,352 | 2,454 | 2,809 | 2,457 | 8.93 | % | 4.27 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Legal and professional fees | 2,046 | 1,882 | 1,980 | 2,503 | 1,227 | 8.71 | % | 66.7 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Amortization of core deposits and other intangibles | 1,741 | 1,804 | 1,869 | 1,932 | 2,079 | (3.49) | % | (16.3) | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Merger and integration costs | — | — | 1,447 | 4,611 | 16,057 | — | % | (100.0) | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other expense | 23,042 | 21,937 | 20,442 | 22,461 | 18,834 | 5.04 | % | 22.3 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total noninterest expense | 96,034 | 91,480 | 95,164 | 107,548 | 109,856 | 4.98 | % | (12.6) | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Income before income taxes | 77,028 | 73,156 | 74,152 | 69,819 | 29,602 | 5.29 | % | 160.2 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Income tax expense | 16,826 | 14,499 | 16,626 | 12,834 | 6,227 | 16.0 | % | 170.2 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net income applicable to FB Financial Corporation and noncontrolling interest | 60,202 | 58,657 | 57,526 | 56,985 | 23,375 | 2.63 | % | 157.5 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net income applicable to noncontrolling interest | — | 8 | — | 8 | — | (100.0) | % | — | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net income applicable to FB Financial Corporation | $ | 60,202 | $ | 58,649 | $ | 57,526 | $ | 56,977 | $ | 23,375 | 2.65 | % | 157.5 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Weighted average common shares outstanding: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Basic | 49,929,920 | 51,358,070 | 51,724,458 | 52,621,950 | 53,627,997 | (2.78) | % | (6.90) | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fully diluted | 50,286,830 | 51,693,688 | 52,203,469 | 53,074,753 | 53,957,062 | (2.72) | % | (6.80) | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Earnings per common share: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Basic | $ | 1.21 | $ | 1.14 | $ | 1.11 | $ | 1.08 | $ | 0.44 | 6.14 | % | 175.0 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fully diluted | 1.20 | 1.13 | 1.10 | 1.07 | 0.43 | 6.19 | % | 179.1 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fully diluted - adjusted* | 1.21 | 1.14 | 1.12 | 1.16 | 1.07 | 6.14 | % | 13.1 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
*This represents a non-GAAP financial measure; See “Use of non-GAAP Financial Measures”and non-GAAP reconciliations herein.
NM- Not meaningful
| FB Financial Corporation | 5 | |||||||
| Consolidated Statements of Income | ||||||||||||||||||||
| (Unaudited) | ||||||||||||||||||||
| (Dollars in Thousands, Except Per Share Data) | ||||||||||||||||||||
| Sep 2026 | ||||||||||||||||||||
| vs. | ||||||||||||||||||||
| Nine Months Ended | Sep 2025 | |||||||||||||||||||
| Sep 2026 | Sep 2025 | Percent variance | ||||||||||||||||||
| Interest income: | ||||||||||||||||||||
| Interest and fees on loans | $ | 619,999 | $ | 522,189 | 18.7 | % | ||||||||||||||
| Interest on investment securities | ||||||||||||||||||||
| Taxable | 41,668 | 43,527 | (4.27) | % | ||||||||||||||||
| Tax-exempt | 3,187 | 3,127 | 1.92 | % | ||||||||||||||||
| Other | 26,041 | 29,845 | (12.7) | % | ||||||||||||||||
| Total interest income | 690,895 | 598,688 | 15.4 | % | ||||||||||||||||
| Interest expense: | ||||||||||||||||||||
| Deposits | 241,052 | 225,394 | 6.95 | % | ||||||||||||||||
| Borrowings | 4,960 | 6,998 | (29.1) | % | ||||||||||||||||
| Total interest expense | 246,012 | 232,392 | 5.86 | % | ||||||||||||||||
| Net interest income | 444,883 | 366,296 | 21.5 | % | ||||||||||||||||
| Provision for credit losses on loans HFI | 14,644 | 30,761 | (52.4) | % | ||||||||||||||||
| (Reversal of) provision for credit losses on unfunded commitments | (80) | 11,285 | (100.7) | % | ||||||||||||||||
| Net interest income after provisions for credit losses | 430,319 | 324,250 | 32.7 | % | ||||||||||||||||
| Noninterest income: | ||||||||||||||||||||
| Mortgage banking income | 32,848 | 38,939 | (15.6) | % | ||||||||||||||||
| Investment services and trust income | 13,796 | 11,860 | 16.3 | % | ||||||||||||||||
| Service charges on deposit accounts | 13,328 | 10,920 | 22.1 | % | ||||||||||||||||
| ATM and interchange fees | 9,513 | 8,943 | 6.37 | % | ||||||||||||||||
| Loss from securities, net | (240) | (60,521) | (99.6) | % | ||||||||||||||||
| Loss on sales or write-downs of premises and equipment, other real estate owned and other assets, net | (731) | (1,035) | (29.4) | % | ||||||||||||||||
| Other income | 8,181 | 6,009 | 36.1 | % | ||||||||||||||||
| Total noninterest income | 76,695 | 15,115 | 407.4 | % | ||||||||||||||||
| Total revenue | 521,578 | 381,411 | 36.7 | % | ||||||||||||||||
| Noninterest expenses: | ||||||||||||||||||||
| Salaries, commissions and employee benefits | 166,734 | 154,192 | 8.13 | % | ||||||||||||||||
| Occupancy and equipment expense | 22,669 | 20,846 | 8.75 | % | ||||||||||||||||
| Advertising | 7,717 | 7,118 | 8.42 | % | ||||||||||||||||
| Data processing | 7,368 | 6,931 | 6.31 | % | ||||||||||||||||
| Legal and professional fees | 5,908 | 5,645 | 4.66 | % | ||||||||||||||||
| Amortization of core deposit and other intangibles | 5,414 | 3,366 | 60.8 | % | ||||||||||||||||
| Merger and integration costs | 1,447 | 19,192 | (92.5) | % | ||||||||||||||||
| Other expense | 65,421 | 53,376 | 22.6 | % | ||||||||||||||||
| Total noninterest expense | 282,678 | 270,666 | 4.44 | % | ||||||||||||||||
| Income before income taxes | 224,336 | 68,699 | 226.5 | % | ||||||||||||||||
| Income tax expense | 47,951 | 3,046 | 1,474.2 | % | ||||||||||||||||
| Net income applicable to noncontrolling interest and FB Financial Corporation | 176,385 | 65,653 | 168.7 | % | ||||||||||||||||
| Net income applicable to noncontrolling interests | 8 | 8 | — | % | ||||||||||||||||
| Net income applicable to FB Financial Corporation | $ | 176,377 | $ | 65,645 | 168.7 | % | ||||||||||||||
| Weighted average common shares outstanding: | ||||||||||||||||||||
| Basic | 50,997,576 | 48,775,217 | 4.56 | % | ||||||||||||||||
| Fully diluted | 51,377,179 | 49,054,448 | 4.74 | % | ||||||||||||||||
| Earnings per common share: | ||||||||||||||||||||
| Basic | $ | 3.46 | $ | 1.35 | 156.3 | % | ||||||||||||||
| Fully diluted | 3.43 | 1.34 | 156.0 | % | ||||||||||||||||
| Fully diluted - adjusted* | 3.47 | 2.82 | 23.0 | % | ||||||||||||||||
*This represents a non-GAAP financial measure; See “Use of non-GAAP Financial Measures” and non-GAAP reconciliations herein.
| FB Financial Corporation | 6 | |||||||
| Consolidated Balance Sheets | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| (Unaudited) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| (Dollars in Thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Annualized | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Sep 2026 | Sep 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| vs. | vs. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| As of | Jun 2026 | Sep 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Percent variance | Percent variance | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ASSETS | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cash and due from banks | $ | 157,807 | $ | 147,034 | $ | 159,883 | $ | 196,213 | $ | 154,286 | 29.1 | % | 2.28 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Federal funds sold and reverse repurchase agreements | 170,399 | 228,861 | 199,009 | 213,391 | 283,451 | (101.3) | % | (39.9) | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest-bearing deposits in financial institutions | 689,483 | 736,462 | 798,871 | 746,291 | 842,296 | (25.3) | % | (18.1) | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cash and cash equivalents | 1,017,689 | 1,112,357 | 1,157,763 | 1,155,895 | 1,280,033 | (33.8) | % | (20.5) | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Investments: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Available-for-sale debt securities, at fair value | 1,538,130 | 1,521,093 | 1,498,547 | 1,459,579 | 1,426,951 | 4.44 | % | 7.79 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equity securities, at fair value | 5,759 | 6,000 | — | 155 | 1,450 | (15.9) | % | 297.2 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Restricted equity securities, at cost | 84,168 | 87,572 | 79,458 | 79,046 | 36,231 | (15.4) | % | 132.3 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Loans held for sale | 255,069 | 198,089 | 231,359 | 201,076 | 167,449 | 114.1 | % | 52.3 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Loans held for investment | 13,179,564 | 12,865,510 | 12,503,815 | 12,383,626 | 12,297,600 | 9.68 | % | 7.17 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Less: allowance for credit losses on loans HFI | 193,960 | 194,010 | 186,324 | 185,983 | 184,993 | (0.10) | % | 4.85 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net loans held for investment | 12,985,604 | 12,671,500 | 12,317,491 | 12,197,643 | 12,112,607 | 9.83 | % | 7.21 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Premises and equipment, net | 178,596 | 180,058 | 181,268 | 182,370 | 183,595 | (3.22) | % | (2.72) | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other real estate owned, net | 4,655 | 5,544 | 6,449 | 6,009 | 4,466 | (63.6) | % | 4.23 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Operating lease right-of-use assets | 46,118 | 47,535 | 48,223 | 49,249 | 51,035 | (11.8) | % | (9.63) | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest receivable | 60,369 | 58,792 | 59,837 | 58,565 | 60,755 | 10.6 | % | (0.64) | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Mortgage servicing rights, at fair value | 150,873 | 145,374 | 147,344 | 148,795 | 149,840 | 15.0 | % | 0.69 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Bank-owned life insurance | 111,893 | 111,184 | 110,484 | 111,865 | 113,374 | 2.53 | % | (1.31) | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill | 350,353 | 350,353 | 350,353 | 350,353 | 350,353 | — | % | — | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Core deposit and other intangibles, net | 25,870 | 27,611 | 29,415 | 31,284 | 33,216 | (25.0) | % | (22.1) | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other assets | 278,845 | 273,039 | 250,448 | 268,408 | 265,104 | 8.44 | % | 5.18 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total assets | $ | 17,093,991 | $ | 16,796,101 | $ | 16,468,439 | $ | 16,300,292 | $ | 16,236,459 | 7.04 | % | 5.28 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| LIABILITIES AND SHAREHOLDERS' EQUITY | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Liabilities: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deposits | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Noninterest-bearing | $ | 2,777,111 | $ | 2,775,208 | $ | 2,664,480 | $ | 2,634,395 | $ | 2,690,635 | 0.27 | % | 3.21 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest-bearing checking | 2,610,941 | 2,479,291 | 2,642,713 | 2,651,369 | 2,458,625 | 21.1 | % | 6.20 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Money market and savings | 6,275,388 | 5,786,480 | 5,886,370 | 5,969,640 | 5,968,094 | 33.5 | % | 5.15 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Customer time deposits | 2,375,869 | 2,620,285 | 2,309,056 | 2,028,923 | 2,206,790 | (37.0) | % | 7.66 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Brokered and internet time deposits | 626,687 | 685,902 | 574,216 | 625,634 | 488,811 | (34.3) | % | 28.2 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total deposits | 14,665,996 | 14,347,166 | 14,076,835 | 13,909,961 | 13,812,955 | 8.82 | % | 6.18 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Borrowings | 265,390 | 314,513 | 213,188 | 212,764 | 213,638 | (62.0) | % | 24.2 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Operating lease liabilities | 56,215 | 57,940 | 59,106 | 60,556 | 62,664 | (11.8) | % | (10.3) | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accrued expenses and other liabilities | 172,651 | 139,858 | 145,344 | 168,753 | 169,066 | 93.0 | % | 2.12 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total liabilities | 15,160,252 | 14,859,477 | 14,494,473 | 14,352,034 | 14,258,323 | 8.03 | % | 6.33 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Shareholders’ equity: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Common stock, $1 par value | 49,443 | 49,977 | 51,418 | 51,752 | 53,457 | (4.24) | % | (7.51) | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Additional paid-in capital | 954,565 | 981,194 | 1,064,619 | 1,082,344 | 1,163,164 | (10.8) | % | (17.9) | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Retained earnings | 990,417 | 940,824 | 893,095 | 846,620 | 799,900 | 20.9 | % | 23.8 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accumulated other comprehensive loss, net | (60,779) | (35,464) | (35,259) | (32,551) | (38,478) | 283.2 | % | 58.0 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total common shareholders’ equity | 1,933,646 | 1,936,531 | 1,973,873 | 1,948,165 | 1,978,043 | (0.59) | % | (2.24) | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Noncontrolling interest | 93 | 93 | 93 | 93 | 93 | — | % | — | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total equity | 1,933,739 | 1,936,624 | 1,973,966 | 1,948,258 | 1,978,136 | (0.59) | % | (2.24) | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total liabilities and shareholders’ equity | $ | 17,093,991 | $ | 16,796,101 | $ | 16,468,439 | $ | 16,300,292 | $ | 16,236,459 | 7.04 | % | 5.28 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| FB Financial Corporation | 7 | |||||||
| Average Balance and Interest Yield/Rate Analysis | ||||||||||||||||||||||||||||||||||||||
| (Unaudited) | ||||||||||||||||||||||||||||||||||||||
(Dollars in Thousands) | ||||||||||||||||||||||||||||||||||||||
| Three Months Ended | ||||||||||||||||||||||||||||||||||||||
| September 30, 2026 | June 30, 2026 | |||||||||||||||||||||||||||||||||||||
| Average balances | Interest income/ expense | Average yield/ rate | Average balances | Interest income/ expense | Average yield/ rate | |||||||||||||||||||||||||||||||||
| Interest-earning assets: | ||||||||||||||||||||||||||||||||||||||
Loans HFI(a)(b) | $ | 12,977,638 | $ | 209,975 | 6.42 | % | $ | 12,611,425 | $ | 203,763 | 6.48 | % | ||||||||||||||||||||||||||
| Mortgage loans held for sale | 180,736 | 2,818 | 6.19 | % | 205,594 | 3,111 | 6.07 | % | ||||||||||||||||||||||||||||||
| Investment securities: | ||||||||||||||||||||||||||||||||||||||
| Taxable | 1,448,672 | 14,289 | 3.91 | % | 1,405,824 | 13,804 | 3.94 | % | ||||||||||||||||||||||||||||||
Tax-exempt(b) | 168,393 | 1,443 | 3.40 | % | 169,143 | 1,442 | 3.42 | % | ||||||||||||||||||||||||||||||
Total investment securities(b) | 1,617,065 | 15,732 | 3.86 | % | 1,574,967 | 15,246 | 3.88 | % | ||||||||||||||||||||||||||||||
| Federal funds sold and reverse repurchase agreements | 189,911 | 1,869 | 3.90 | % | 199,542 | 1,974 | 3.97 | % | ||||||||||||||||||||||||||||||
| Interest-bearing deposits with other financial institutions | 578,439 | 5,403 | 3.71 | % | 544,979 | 5,006 | 3.68 | % | ||||||||||||||||||||||||||||||
| Restricted equity securities, at cost | 84,193 | 1,171 | 5.52 | % | 82,091 | 1,154 | 5.64 | % | ||||||||||||||||||||||||||||||
Total interest-earning assets(b) | 15,627,982 | 236,968 | 6.02 | % | 15,218,598 | 230,254 | 6.07 | % | ||||||||||||||||||||||||||||||
| Noninterest-earning assets: | ||||||||||||||||||||||||||||||||||||||
| Cash and due from banks | 137,957 | 141,072 | ||||||||||||||||||||||||||||||||||||
| Allowance for credit losses on loans HFI | (194,674) | (187,329) | ||||||||||||||||||||||||||||||||||||
Other assets(c)(d) | 1,164,512 | 1,161,673 | ||||||||||||||||||||||||||||||||||||
| Total noninterest-earning assets | 1,107,795 | 1,115,416 | ||||||||||||||||||||||||||||||||||||
| Total assets | $ | 16,735,777 | $ | 16,334,014 | ||||||||||||||||||||||||||||||||||
| Interest-bearing liabilities: | ||||||||||||||||||||||||||||||||||||||
| Interest-bearing deposits: | ||||||||||||||||||||||||||||||||||||||
| Interest-bearing checking | $ | 2,513,622 | $ | 11,834 | 1.87 | % | $ | 2,527,571 | $ | 11,601 | 1.84 | % | ||||||||||||||||||||||||||
| Money market | 5,579,134 | 43,295 | 3.08 | % | 5,305,608 | 39,263 | 2.97 | % | ||||||||||||||||||||||||||||||
| Savings deposits | 524,702 | 1,446 | 1.09 | % | 490,923 | 1,035 | 0.85 | % | ||||||||||||||||||||||||||||||
| Customer time deposits | 2,371,348 | 21,443 | 3.59 | % | 2,308,317 | 20,610 | 3.58 | % | ||||||||||||||||||||||||||||||
| Brokered and internet time deposits | 630,325 | 6,388 | 4.02 | % | 625,579 | 6,259 | 4.01 | % | ||||||||||||||||||||||||||||||
| Time deposits | 3,001,673 | 27,831 | 3.68 | % | 2,933,896 | 26,869 | 3.67 | % | ||||||||||||||||||||||||||||||
| Total interest-bearing deposits | 11,619,131 | 84,406 | 2.88 | % | 11,257,998 | 78,768 | 2.81 | % | ||||||||||||||||||||||||||||||
| Other interest-bearing liabilities: | ||||||||||||||||||||||||||||||||||||||
| Securities sold under agreements to repurchase and federal funds purchased | 9,481 | 20 | 0.84 | % | 10,683 | 18 | 0.68 | % | ||||||||||||||||||||||||||||||
| Federal Home Loan Bank advances | 5,163 | 65 | 4.99 | % | 5,769 | 41 | 2.85 | % | ||||||||||||||||||||||||||||||
| Subordinated debt | 93,866 | 1,664 | 7.03 | % | 84,145 | 1,491 | 7.11 | % | ||||||||||||||||||||||||||||||
| Other borrowings | 1,066 | 6 | 2.23 | % | 16,478 | 148 | 3.60 | % | ||||||||||||||||||||||||||||||
| Total other interest-bearing liabilities | 109,576 | 1,755 | 6.35 | % | 117,075 | 1,698 | 5.82 | % | ||||||||||||||||||||||||||||||
| Total interest-bearing liabilities | 11,728,707 | 86,161 | 2.91 | % | 11,375,073 | 80,466 | 2.84 | % | ||||||||||||||||||||||||||||||
| Noninterest-bearing liabilities: | ||||||||||||||||||||||||||||||||||||||
| Demand deposits | 2,798,442 | 2,722,563 | ||||||||||||||||||||||||||||||||||||
Other liabilities(d) | 257,419 | 249,086 | ||||||||||||||||||||||||||||||||||||
| Total noninterest-bearing liabilities | 3,055,861 | 2,971,649 | ||||||||||||||||||||||||||||||||||||
| Total liabilities | 14,784,568 | 14,346,722 | ||||||||||||||||||||||||||||||||||||
| Total common shareholders’ equity | 1,951,116 | 1,987,199 | ||||||||||||||||||||||||||||||||||||
| Noncontrolling interest | 93 | 93 | ||||||||||||||||||||||||||||||||||||
| Total equity | 1,951,209 | 1,987,292 | ||||||||||||||||||||||||||||||||||||
| Total liabilities and shareholders’ equity | $ | 16,735,777 | $ | 16,334,014 | ||||||||||||||||||||||||||||||||||
Net interest income(b) | $ | 150,807 | $ | 149,788 | ||||||||||||||||||||||||||||||||||
Interest rate spread(b) | 3.11 | % | 3.23 | % | ||||||||||||||||||||||||||||||||||
Net interest margin(b)(e) | 3.83 | % | 3.95 | % | ||||||||||||||||||||||||||||||||||
| Cost of total deposits | 2.32 | % | 2.26 | % | ||||||||||||||||||||||||||||||||||
| Average interest-earning assets to average interest-bearing liabilities | 133.2 | % | 133.8 | % | ||||||||||||||||||||||||||||||||||
| Tax-equivalent adjustment | $ | 861 | $ | 816 | ||||||||||||||||||||||||||||||||||
| Loans HFI yield components: | ||||||||||||||||||||||||||||||||||||||
Contractual interest rate(b) | $ | 203,083 | 6.21 | % | $ | 195,348 | 6.22 | % | ||||||||||||||||||||||||||||||
| Origination and other loan fee income | 2,397 | 0.07 | % | 2,589 | 0.08 | % | ||||||||||||||||||||||||||||||||
| Accretion on purchased loans | 4,314 | 0.13 | % | 5,049 | 0.16 | % | ||||||||||||||||||||||||||||||||
| Nonaccrual interest | 181 | 0.01 | % | 777 | 0.02 | % | ||||||||||||||||||||||||||||||||
| Total loans HFI yield | $ | 209,975 | 6.42 | % | $ | 203,763 | 6.48 | % | ||||||||||||||||||||||||||||||
(a) Average balances of nonaccrual loans and overdrafts are included in average loan balances.
(b) Includes tax-equivalent adjustment using combined federal and blended state statutory income tax rate of 26.06%.
(c) Includes average net unrealized losses on investment securities available for sale of $59,589 and $50,915 for the three months ended September 30, 2026 and June 30, 2026, respectively.
(d) Includes average of optional rights to repurchase government guaranteed GNMA mortgage loans previously sold that have become past due greater than 90 days of $31,009 and $33,122 for the three months ended September 30, 2026 and June 30, 2026, respectively.
(e)The NIM is calculated by dividing annualized net interest income, on a tax-equivalent basis, by average total interest earning assets.
| FB Financial Corporation | 8 | |||||||
| Average Balance and Interest Yield/Rate Analysis (continued) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| (Unaudited) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(Dollars in Thousands) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Three Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| March 31, 2026 | December 31, 2025 | September 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) | $ | 12,415,278 | $ | 199,145 | 6.51 | % | $ | 12,368,964 | $ | 207,140 | 6.64 | % | $ | 12,189,401 | $ | 207,423 | 6.75 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Mortgage loans held for sale | 171,452 | 2,550 | 6.03 | % | 169,422 | 3,059 | 7.16 | % | 162,205 | 2,359 | 5.77 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Investment securities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Taxable | 1,378,627 | 13,575 | 3.99 | % | 1,346,232 | 14,380 | 4.24 | % | 1,304,894 | 14,395 | 4.38 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Tax-exempt(b) | 168,658 | 1,425 | 3.43 | % | 169,355 | 1,431 | 3.35 | % | 169,523 | 1,431 | 3.35 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total investment securities(b) | 1,547,285 | 15,000 | 3.93 | % | 1,515,587 | 15,811 | 4.14 | % | 1,474,417 | 15,826 | 4.26 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Federal funds sold and reverse repurchase agreements | 207,809 | 2,021 | 3.94 | % | 238,393 | 2,426 | 4.04 | % | 331,029 | 3,966 | 4.75 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest-bearing deposits with other financial institutions | 698,672 | 6,337 | 3.68 | % | 693,612 | 6,800 | 3.89 | % | 671,634 | 7,340 | 4.34 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Restricted equity securities, at cost | 79,257 | 1,106 | 5.66 | % | 49,029 | 840 | 6.80 | % | 36,907 | 832 | 8.94 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total interest-earning assets(b) | 15,119,753 | 226,159 | 6.07 | % | 15,035,007 | 236,076 | 6.23 | % | 14,865,593 | 237,746 | 6.35 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Noninterest-earning assets: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cash and due from banks | 147,305 | 137,536 | 139,226 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Allowance for credit losses on loans HFI | (188,214) | (185,526) | (181,973) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other assets(c)(d) | 1,179,428 | 1,164,178 | 1,184,942 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total noninterest-earning assets | 1,138,519 | 1,116,188 | 1,142,195 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total assets | $ | 16,258,272 | $ | 16,151,195 | $ | 16,007,788 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest-bearing liabilities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest-bearing deposits: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest-bearing checking | $ | 2,628,330 | $ | 12,348 | 1.91 | % | $ | 2,379,679 | $ | 11,538 | 1.92 | % | $ | 2,331,589 | $ | 12,383 | 2.11 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Money market | 5,471,973 | 39,871 | 2.96 | % | 5,609,158 | 46,018 | 3.25 | % | 5,561,538 | 49,019 | 3.50 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Savings deposits | 447,380 | 656 | 0.59 | % | 417,110 | 419 | 0.40 | % | 406,787 | 248 | 0.24 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Customer time deposits | 2,116,914 | 19,000 | 3.64 | % | 2,088,577 | 19,561 | 3.72 | % | 1,997,905 | 18,965 | 3.77 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Brokered and internet time deposits | 604,764 | 6,003 | 4.03 | % | 608,136 | 6,277 | 4.10 | % | 560,127 | 5,962 | 4.22 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Time deposits | 2,721,678 | 25,003 | 3.73 | % | 2,696,713 | 25,838 | 3.80 | % | 2,558,032 | 24,927 | 3.87 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total interest-bearing deposits | 11,269,361 | 77,878 | 2.80 | % | 11,102,660 | 83,813 | 2.99 | % | 10,857,946 | 86,577 | 3.16 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other interest-bearing liabilities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Securities sold under agreements to repurchase and federal funds purchased | 12,554 | 16 | 0.52 | % | 12,473 | 31 | 0.99 | % | 13,144 | 31 | 0.94 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Federal Home Loan Bank advances | — | — | — | % | — | — | — | % | 15,217 | 172 | 4.48 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Subordinated debt | 83,798 | 1,486 | 7.19 | % | 83,458 | 1,491 | 7.09 | % | 180,805 | 2,872 | 6.30 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other borrowings | 1,118 | 5 | 1.81 | % | 9,296 | 99 | 4.23 | % | 1,168 | 6 | 2.04 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total other interest-bearing liabilities | 97,470 | 1,507 | 6.27 | % | 105,227 | 1,621 | 6.11 | % | 210,334 | 3,081 | 5.81 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total interest-bearing liabilities | 11,366,831 | 79,385 | 2.83 | % | 11,207,887 | 85,434 | 3.02 | % | 11,068,280 | 89,658 | 3.21 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Noninterest-bearing liabilities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Demand deposits | 2,652,462 | 2,733,207 | 2,724,898 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other liabilities(d) | 273,009 | 253,375 | 236,732 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total noninterest-bearing liabilities | 2,925,471 | 2,986,582 | 2,961,630 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total liabilities | 14,292,302 | 14,194,469 | 14,029,910 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total common shareholders’ equity | 1,965,877 | 1,956,633 | 1,977,785 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Noncontrolling interest | 93 | 93 | 93 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total equity | 1,965,970 | 1,956,726 | 1,977,878 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total liabilities and shareholders’ equity | $ | 16,258,272 | $ | 16,151,195 | $ | 16,007,788 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net interest income(b) | $ | 146,774 | $ | 150,642 | $ | 148,088 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest rate spread(b) | 3.24 | % | 3.21 | % | 3.14 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net interest margin(b)(e) | 3.94 | % | 3.98 | % | 3.95 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cost of total deposits | 2.27 | % | 2.40 | % | 2.53 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Average interest-earning assets to average interest-bearing liabilities | 133.0 | % | 134.1 | % | 134.3 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Tax-equivalent adjustment | $ | 809 | $ | 838 | $ | 848 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Loans HFI yield components: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Contractual interest rate(b) | $ | 190,529 | 6.22 | % | $ | 197,683 | 6.34 | % | $ | 198,320 | 6.45 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Origination and other loan fee income | 2,148 | 0.07 | % | 2,633 | 0.08 | % | 1,575 | 0.05 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accretion on purchased loans | 6,297 | 0.21 | % | 6,406 | 0.21 | % | 7,025 | 0.23 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Nonaccrual interest | 171 | 0.01 | % | 418 | 0.01 | % | 503 | 0.02 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total loans HFI yield | $ | 199,145 | 6.51 | % | $ | 207,140 | 6.64 | % | $ | 207,423 | 6.75 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(a) Average balances of nonaccrual loans and overdrafts are included in average loan balances.
(b) Includes tax-equivalent adjustment using combined federal and blended state statutory income tax rate of 26.06%.
(c) Includes average net unrealized losses on investment securities available for sale of $43,443, $51,415 and $64,781 for the three months ended March 31, 2026, December 31, 2025 and
September 30, 2025, respectively.
(d) Includes average of optional rights to repurchase government guaranteed GNMA mortgage loans previously sold that have become past due greater than 90 days of $31,982, $23,208
and $21,645 for the three months ended March 31, 2026, December 31, 2025 and September 30, 2025, respectively.
and $21,645 for the three months ended March 31, 2026, December 31, 2025 and September 30, 2025, respectively.
(e)The NIM is calculated by dividing annualized net interest income, on a tax-equivalent basis, by average total interest earning assets.
| FB Financial Corporation | 9 | |||||||
| Average Balance and Interest Yield/Rate Analysis (continued) | ||||||||||||||||||||||||||||||||||||||
| (Unaudited) | ||||||||||||||||||||||||||||||||||||||
| (Dollars in Thousands) | ||||||||||||||||||||||||||||||||||||||
| Nine Months Ended | ||||||||||||||||||||||||||||||||||||||
| September 30, 2026 | September 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) | $ | 12,670,173 | $ | 612,883 | 6.47 | % | $ | 10,559,871 | $ | 517,561 | 6.55 | % | ||||||||||||||||||||||||||
| Mortgage loans held for sale | 185,961 | 8,479 | 6.10 | % | 127,657 | 5,981 | 6.26 | % | ||||||||||||||||||||||||||||||
| Investment securities: | ||||||||||||||||||||||||||||||||||||||
| Taxable | 1,411,298 | 41,668 | 3.95 | % | 1,459,685 | 43,527 | 3.99 | % | ||||||||||||||||||||||||||||||
Tax-exempt(b) | 168,730 | 4,310 | 3.42 | % | 168,390 | 4,229 | 3.36 | % | ||||||||||||||||||||||||||||||
Total investment securities(b) | 1,580,028 | 45,978 | 3.89 | % | 1,628,075 | 47,756 | 3.92 | % | ||||||||||||||||||||||||||||||
| Federal funds sold and reverse repurchase agreements | 199,022 | 5,864 | 3.94 | % | 189,984 | 6,596 | 4.64 | % | ||||||||||||||||||||||||||||||
| Interest-bearing deposits with other financial institutions | 606,923 | 16,746 | 3.69 | % | 635,796 | 20,975 | 4.41 | % | ||||||||||||||||||||||||||||||
| Restricted equity securities, at cost | 81,865 | 3,431 | 5.60 | % | 35,024 | 2,274 | 8.68 | % | ||||||||||||||||||||||||||||||
Total interest-earning assets(b) | 15,323,972 | 693,381 | 6.05 | % | 13,176,407 | 601,143 | 6.10 | % | ||||||||||||||||||||||||||||||
| Noninterest-earning assets: | ||||||||||||||||||||||||||||||||||||||
| Cash and due from banks | 142,077 | 126,093 | ||||||||||||||||||||||||||||||||||||
| Allowance for credit losses on loans HFI | (190,096) | (162,040) | ||||||||||||||||||||||||||||||||||||
Other assets(c)(d) | 1,168,484 | 952,215 | ||||||||||||||||||||||||||||||||||||
| Total noninterest-earning assets | 1,120,465 | 916,268 | ||||||||||||||||||||||||||||||||||||
| Total assets | $ | 16,444,437 | $ | 14,092,675 | ||||||||||||||||||||||||||||||||||
| Interest-bearing liabilities: | ||||||||||||||||||||||||||||||||||||||
| Interest-bearing deposits: | ||||||||||||||||||||||||||||||||||||||
| Interest-bearing checking | $ | 2,556,088 | $ | 35,783 | 1.87 | % | $ | 2,562,483 | $ | 46,520 | 2.43 | % | ||||||||||||||||||||||||||
| Money market | 5,452,631 | 122,429 | 3.00 | % | 4,592,506 | 118,336 | 3.45 | % | ||||||||||||||||||||||||||||||
| Savings deposits | 487,951 | 3,137 | 0.86 | % | 371,180 | 412 | 0.15 | % | ||||||||||||||||||||||||||||||
| Customer time deposits | 2,266,458 | 61,053 | 3.60 | % | 1,594,062 | 44,121 | 3.70 | % | ||||||||||||||||||||||||||||||
| Brokered and internet time deposits | 620,316 | 18,650 | 4.02 | % | 495,671 | 16,005 | 4.32 | % | ||||||||||||||||||||||||||||||
| Time deposits | 2,886,774 | 79,703 | 3.69 | % | 2,089,733 | 60,126 | 3.85 | % | ||||||||||||||||||||||||||||||
| Total interest-bearing deposits | 11,383,444 | 241,052 | 2.83 | % | 9,615,902 | 225,394 | 3.13 | % | ||||||||||||||||||||||||||||||
| Other interest-bearing liabilities: | ||||||||||||||||||||||||||||||||||||||
| Securities sold under agreements to repurchase and federal funds purchased | 10,895 | 54 | 0.66 | % | 11,773 | 63 | 0.72 | % | ||||||||||||||||||||||||||||||
| Federal Home Loan Bank advances | 3,663 | 106 | 3.87 | % | 12,821 | 430 | 4.48 | % | ||||||||||||||||||||||||||||||
| Subordinated debt | 87,306 | 4,641 | 7.11 | % | 147,654 | 6,489 | 5.88 | % | ||||||||||||||||||||||||||||||
| Other borrowings | 6,220 | 159 | 3.42 | % | 1,560 | 16 | 1.37 | % | ||||||||||||||||||||||||||||||
| Total other interest-bearing liabilities | 108,084 | 4,960 | 6.14 | % | 173,808 | 6,998 | 5.38 | % | ||||||||||||||||||||||||||||||
| Total interest-bearing liabilities | 11,491,528 | 246,012 | 2.86 | % | 9,789,710 | 232,392 | 3.17 | % | ||||||||||||||||||||||||||||||
| Noninterest-bearing liabilities: | ||||||||||||||||||||||||||||||||||||||
| Demand deposits | 2,725,024 | 2,357,537 | ||||||||||||||||||||||||||||||||||||
Other liabilities(d) | 259,782 | 228,944 | ||||||||||||||||||||||||||||||||||||
| Total noninterest-bearing liabilities | 2,984,806 | 2,586,481 | ||||||||||||||||||||||||||||||||||||
| Total liabilities | 14,476,334 | 12,376,191 | ||||||||||||||||||||||||||||||||||||
| Total common shareholders’ equity | 1,968,010 | 1,716,391 | ||||||||||||||||||||||||||||||||||||
| Noncontrolling interest | 93 | 93 | ||||||||||||||||||||||||||||||||||||
| Total equity | 1,968,103 | 1,716,484 | ||||||||||||||||||||||||||||||||||||
| Total liabilities and shareholders’ equity | $ | 16,444,437 | $ | 14,092,675 | ||||||||||||||||||||||||||||||||||
Net interest income(b) | $ | 447,369 | $ | 368,751 | ||||||||||||||||||||||||||||||||||
Interest rate spread(b) | 3.19 | % | 2.93 | % | ||||||||||||||||||||||||||||||||||
Net interest margin(b)(e) | 3.90 | % | 3.74 | % | ||||||||||||||||||||||||||||||||||
| Cost of total deposits | 2.28 | % | 2.52 | % | ||||||||||||||||||||||||||||||||||
| Average interest-earning assets to average interest-bearing liabilities | 133.4 | % | 134.6 | % | ||||||||||||||||||||||||||||||||||
| Tax equivalent adjustment | $ | 2,486 | $ | 2,455 | ||||||||||||||||||||||||||||||||||
| Loans HFI yield components: | ||||||||||||||||||||||||||||||||||||||
Contractual interest rate(b) | $ | 588,960 | 6.21 | % | $ | 503,836 | 6.37 | % | ||||||||||||||||||||||||||||||
| Origination and other loan fee income | 7,134 | 0.08 | % | 5,317 | 0.07 | % | ||||||||||||||||||||||||||||||||
| Accretion on purchased loans | 15,660 | 0.17 | % | 6,965 | 0.09 | % | ||||||||||||||||||||||||||||||||
| Nonaccrual interest | 1,129 | 0.01 | % | 1,443 | 0.02 | % | ||||||||||||||||||||||||||||||||
| Total loans HFI yield | $ | 612,883 | 6.47 | % | $ | 517,561 | 6.55 | % | ||||||||||||||||||||||||||||||
(a) Average balances of nonaccrual loans and overdrafts are included in average loan balances.
(b) Includes tax-equivalent adjustment using combined federal and blended state statutory income tax rate of 26.06%.
(c) Includes average net unrealized losses on investment securities available for sale of $51,375 and $108,373 for the nine months ended September 30, 2026 and 2025, respectively.
(d) Includes average of optional rights to repurchase government guaranteed GNMA mortgage loans previously sold that have become past due greater than 90 days of $32,034 and $25,812 for the nine months ended September 30, 2026 and 2025, respectively.
(e)The NIM is calculated by dividing annualized net interest income, on a tax-equivalent basis, by average total interest earning assets.
| FB Financial Corporation | 10 | |||||||
| Investments and Other Sources of Liquidity | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| (Unaudited) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| (Dollars in Thousands) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| As of | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Investment securities, at fair value | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Available-for-sale debt securities: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| U.S. government agency securities | $ | 789,987 | 51 | % | $ | 748,777 | 49 | % | $ | 713,910 | 48 | % | $ | 670,088 | 46 | % | $ | 653,197 | 46 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Mortgage-backed securities - residential | 568,520 | 37 | % | 573,179 | 38 | % | 599,180 | 40 | % | 602,320 | 41 | % | 587,587 | 41 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Mortgage-backed securities - commercial | 18,644 | 2 | % | 20,205 | 2 | % | 10,632 | 1 | % | 10,678 | 1 | % | 10,681 | 1 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Municipal securities | 152,325 | 10 | % | 170,173 | 11 | % | 166,033 | 11 | % | 168,370 | 12 | % | 165,411 | 12 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Treasury securities | 6,964 | — | % | 7,066 | — | % | 7,092 | — | % | 7,125 | — | % | 7,080 | — | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Corporate securities | 1,690 | — | % | 1,693 | — | % | 1,700 | — | % | 998 | — | % | 2,995 | — | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total available-for-sale debt securities | 1,538,130 | 100 | % | 1,521,093 | 100 | % | 1,498,547 | 100 | % | 1,459,579 | 100 | % | 1,426,951 | 100 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equity securities, at fair value | 5,759 | — | % | 6,000 | — | % | — | — | % | 155 | — | % | 1,450 | — | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total investment securities, at fair value | $ | 1,543,889 | 100 | % | $ | 1,527,093 | 100 | % | $ | 1,498,547 | 100 | % | $ | 1,459,734 | 100 | % | $ | 1,428,401 | 100 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Investment securities to total assets | 9.03 | % | 9.09 | % | 9.10 | % | 8.96 | % | 8.8 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Unrealized loss on available-for-sale debt securities | (85,778) | (51,828) | (51,495) | (47,887) | (55,890) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Sources of liquidity | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Current on-balance sheet: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cash and cash equivalents | $ | 1,017,689 | 58 | % | $ | 1,112,357 | 62 | % | $ | 1,157,763 | 65 | % | $ | 1,155,895 | 64 | % | $ | 1,280,033 | 68 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Unpledged available-for-sale debt securities | 731,483 | 42 | % | 691,290 | 38 | % | 637,182 | 35 | % | 649,000 | 36 | % | 608,716 | 32 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equity securities, at fair value | 5,759 | — | % | 6,000 | — | % | — | — | % | 155 | — | % | 1,450 | — | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total on-balance sheet liquidity | $ | 1,754,931 | 100 | % | $ | 1,809,647 | 100 | % | $ | 1,794,945 | 100 | % | $ | 1,805,050 | 100 | % | $ | 1,890,199 | 100 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Available sources of liquidity: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unsecured borrowing capacity(a) | $ | 4,210,357 | 49 | % | $ | 4,012,661 | 48 | % | $ | 4,021,984 | 47 | % | $ | 3,915,314 | 47 | % | $ | 4,018,822 | 52 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| FHLB remaining borrowing capacity | 2,290,109 | 27 | % | 2,106,161 | 26 | % | 2,213,251 | 26 | % | 2,214,796 | 26 | % | 1,551,283 | 20 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Federal Reserve discount window | 2,070,119 | 24 | % | 2,138,248 | 26 | % | 2,319,521 | 27 | % | 2,268,599 | 27 | % | 2,196,785 | 28 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total available sources of liquidity | $ | 8,570,585 | 100 | % | $ | 8,257,070 | 100 | % | $ | 8,554,756 | 100 | % | $ | 8,398,709 | 100 | % | $ | 7,766,890 | 100 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| On-balance sheet liquidity as a percentage of total assets | 10.3 | % | 10.8 | % | 10.9 | % | 11.1 | % | 11.6 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| On-balance sheet liquidity as a percentage of total tangible assets* | 10.5 | % | 11.0 | % | 11.2 | % | 11.3 | % | 11.9 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
On-balance sheet liquidity and available sources of liquidity as a percentage of estimated uninsured and uncollateralized deposits(b) | 235.9 | % | 246.7 | % | 255.0 | % | 249.8 | % | 245.0 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(a) Includes capacity available per internal policy in the form of brokered deposits and unsecured lines of credit.
(b) Amounts are shown on a fully consolidated basis and exclude deposits of affiliates that are eliminated in consolidation.
*This represents a non-GAAP financial measure; See “Use of non-GAAP Financial Measures” and non-GAAP reconciliations herein.
| FB Financial Corporation | 11 | |||||||
| Loan Portfolio | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| (Unaudited) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| (Dollars in Thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| As of | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Sep 2026 | % of Total | Jun 2026 | % of Total | Mar 2026 | % of Total | Dec 2025 | % of Total | Sep 2025 | % of Total | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Loan portfolio | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Commercial and industrial | $ | 2,258,655 | 17 | % | $ | 2,259,794 | 18 | % | $ | 2,239,228 | 18 | % | $ | 2,181,935 | 18 | % | $ | 2,155,105 | 17 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Construction | 1,177,433 | 9 | % | 1,157,961 | 9 | % | 1,177,082 | 9 | % | 1,188,494 | 10 | % | 1,195,392 | 10 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Residential real estate: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 1-to-4 family mortgage | 2,051,105 | 16 | % | 1,917,533 | 15 | % | 1,856,308 | 15 | % | 1,838,122 | 15 | % | 1,852,626 | 15 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Residential line of credit | 812,771 | 6 | % | 802,753 | 6 | % | 768,190 | 6 | % | 741,309 | 6 | % | 707,303 | 6 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Multi-family mortgage | 809,083 | 6 | % | 767,500 | 6 | % | 716,795 | 6 | % | 745,360 | 6 | % | 736,424 | 6 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Commercial real estate: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Owner-occupied | 2,282,155 | 17 | % | 2,252,681 | 18 | % | 2,204,731 | 18 | % | 2,148,870 | 17 | % | 2,124,920 | 17 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Non-owner occupied | 3,079,035 | 23 | % | 3,016,923 | 23 | % | 2,869,759 | 23 | % | 2,900,499 | 23 | % | 2,890,233 | 24 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Consumer and other | 709,327 | 6 | % | 690,365 | 5 | % | 671,722 | 5 | % | 639,037 | 5 | % | 635,597 | 5 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total loans HFI | $ | 13,179,564 | 100 | % | $ | 12,865,510 | 100 | % | $ | 12,503,815 | 100 | % | $ | 12,383,626 | 100 | % | $ | 12,297,600 | 100 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Percentage of loans HFI portfolio with floating interest rates | 52.6 | % | 52.8 | % | 52.3 | % | 52.2 | % | 51.5 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Percentage of loans HFI portfolio with floating interest rates that mature after one year | 50.8 | % | 50.2 | % | 49.0 | % | 49.3 | % | 48.0 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans by market(a) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Metropolitan | $ | 8,218,871 | 62 | % | $ | 8,103,909 | 63 | % | $ | 7,942,216 | 63 | % | $ | 8,067,142 | 65 | % | $ | 8,013,133 | 65 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Community | 3,906,882 | 30 | % | 3,750,952 | 29 | % | 3,596,277 | 29 | % | 3,400,998 | 28 | % | 3,369,100 | 27 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Specialty lending and other | 1,053,811 | 8 | % | 1,010,649 | 8 | % | 965,322 | 8 | % | 915,486 | 7 | % | 915,367 | 8 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total | $ | 13,179,564 | 100 | % | $ | 12,865,510 | 100 | % | $ | 12,503,815 | 100 | % | $ | 12,383,626 | 100 | % | $ | 12,297,600 | 100 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Unfunded loan commitments | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Commercial and industrial | $ | 1,546,291 | 44 | % | $ | 1,472,485 | 45 | % | $ | 1,465,835 | 45 | % | $ | 1,464,207 | 45 | % | $ | 1,451,366 | 46 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Construction | 811,508 | 23 | % | 743,922 | 23 | % | 730,199 | 23 | % | 704,781 | 22 | % | 731,742 | 23 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Residential real estate: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 1-to-4 family mortgage | 14,247 | — | % | 12,158 | — | % | 14,427 | — | % | 16,942 | 1 | % | 5,581 | — | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Residential line of credit | 859,443 | 25 | % | 850,189 | 26 | % | 837,761 | 26 | % | 828,042 | 26 | % | 808,961 | 25 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Multi-family mortgage | 7,086 | — | % | 6,981 | — | % | 8,145 | — | % | 6,698 | — | % | 6,665 | — | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Commercial real estate: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Owner-occupied | 120,268 | 4 | % | 96,729 | 3 | % | 97,430 | 3 | % | 92,265 | 3 | % | 96,287 | 3 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Non-owner occupied | 95,104 | 3 | % | 80,600 | 2 | % | 59,417 | 2 | % | 65,037 | 2 | % | 68,293 | 2 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Consumer and other | 38,793 | 1 | % | 25,850 | 1 | % | 23,763 | 1 | % | 20,530 | 1 | % | 21,480 | 1 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total unfunded loans HFI | $ | 3,492,740 | 100 | % | $ | 3,288,914 | 100 | % | $ | 3,236,977 | 100 | % | $ | 3,198,502 | 100 | % | $ | 3,190,375 | 100 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(a) Prior period amounts have been recast to reflect updated definitions of market categories.
| FB Financial Corporation | 12 | |||||||
| Asset Quality | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| (Unaudited) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| (Dollars in Thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| As of or for the Three Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Allowance for credit losses on loans HFI roll forward summary | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Allowance for credit losses on loans HFI at the beginning of the period | $ | 194,010 | $ | 186,324 | $ | 185,983 | $ | 184,993 | $ | 148,948 | ||||||||||||||||||||||||||||||||||||||||||||||
| Charge-offs | (1,874) | (2,482) | (4,033) | (1,818) | (1,709) | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Recoveries | 657 | 513 | 552 | 380 | 279 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Provision for credit losses on loans HFI | 1,167 | 9,655 | 3,822 | 2,428 | 29,957 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Initial allowance on acquired loans with credit deterioration | — | — | — | — | 7,518 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Allowance for credit losses on loans HFI at the end of the period | $ | 193,960 | $ | 194,010 | $ | 186,324 | $ | 185,983 | $ | 184,993 | ||||||||||||||||||||||||||||||||||||||||||||||
| Allowance for credit losses on loans HFI as a percentage of loans HFI | 1.47 | % | 1.51 | % | 1.49 | % | 1.50 | % | 1.50 | % | ||||||||||||||||||||||||||||||||||||||||||||||
| Allowance for credit losses on unfunded commitments | $ | 16,116 | $ | 15,859 | $ | 15,398 | $ | 16,196 | $ | 17,392 | ||||||||||||||||||||||||||||||||||||||||||||||
| Charge-offs | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Commercial and industrial | $ | — | $ | (637) | $ | (2,168) | $ | (65) | $ | (100) | ||||||||||||||||||||||||||||||||||||||||||||||
| Construction | — | (111) | (204) | — | (399) | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Residential real estate: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 1-to-4 family mortgage | (120) | (421) | (405) | (368) | (322) | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Residential line of credit | (5) | — | (23) | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Consumer and other | (1,749) | (1,313) | (1,233) | (1,385) | (888) | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Total charge-offs | (1,874) | (2,482) | (4,033) | (1,818) | (1,709) | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Recoveries | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Commercial and industrial | 28 | 148 | 101 | 159 | 12 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Construction | — | 2 | 25 | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Residential real estate: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 1-to-4 family mortgage | 15 | 58 | 8 | 13 | 6 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Residential line of credit | 1 | 1 | — | — | 11 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Commercial real estate: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Owner occupied | 10 | 16 | 13 | 8 | 4 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Consumer and other | 603 | 288 | 405 | 200 | 246 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Total recoveries | 657 | 513 | 552 | 380 | 279 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Net charge-offs | $ | (1,217) | $ | (1,969) | $ | (3,481) | $ | (1,438) | $ | (1,430) | ||||||||||||||||||||||||||||||||||||||||||||||
| Annualized net charge-offs as a percentage of average loans HFI | 0.04 | % | 0.06 | % | 0.11 | % | 0.05 | % | 0.05 | % | ||||||||||||||||||||||||||||||||||||||||||||||
| Nonperforming assets | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Loans past due 90 days or more and accruing interest | $ | 31,384 | $ | 41,600 | $ | 27,185 | $ | 32,751 | $ | 26,311 | ||||||||||||||||||||||||||||||||||||||||||||||
| Nonaccrual loans | 124,377 | 108,583 | 92,289 | 87,721 | 89,448 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Total nonperforming loans HFI | 155,761 | 150,183 | 119,474 | 120,472 | 115,759 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Mortgage loans held for sale(a) | 29,134 | 32,578 | 32,590 | 28,102 | 21,660 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Other real estate owned | 4,655 | 5,544 | 6,449 | 6,009 | 4,466 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Other repossessed assets | 4,277 | 3,961 | 3,518 | 3,564 | 3,314 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Total nonperforming assets | $ | 193,827 | $ | 192,266 | $ | 162,031 | $ | 158,147 | $ | 145,199 | ||||||||||||||||||||||||||||||||||||||||||||||
| Total nonperforming loans HFI as a percentage of loans HFI | 1.18 | % | 1.17 | % | 0.96 | % | 0.97 | % | 0.94 | % | ||||||||||||||||||||||||||||||||||||||||||||||
Total nonperforming assets as a percentage of total assets | 1.13 | % | 1.14 | % | 0.98 | % | 0.97 | % | 0.89 | % | ||||||||||||||||||||||||||||||||||||||||||||||
| Total nonaccrual loans as a percentage of loans HFI | 0.94 | % | 0.84 | % | 0.74 | % | 0.71 | % | 0.73 | % | ||||||||||||||||||||||||||||||||||||||||||||||
(a) Represents optional right to repurchase government guaranteed GNMA mortgage loans previously sold that have become past due greater than 90 days.
| FB Financial Corporation | 13 | |||||||
| Selected Deposit Data | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| (Unaudited) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| (Dollars in Thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| As of | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Deposits by market(a) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Metropolitan | $ | 6,934,846 | 47 | % | $ | 6,394,157 | 45 | % | $ | 6,372,782 | 45 | % | $ | 6,356,573 | 46 | % | $ | 6,099,465 | 44 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Community | 6,414,540 | 44 | % | 6,342,903 | 44 | % | 6,392,766 | 46 | % | 6,302,326 | 45 | % | 6,281,454 | 45 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Brokered/wholesale | 626,687 | 4 | % | 685,902 | 5 | % | 574,216 | 4 | % | 625,634 | 5 | % | 487,765 | 4 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Escrow and other(b) | 689,923 | 5 | % | 924,204 | 6 | % | 737,071 | 5 | % | 625,428 | 4 | % | 944,271 | 7 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total | $ | 14,665,996 | 100 | % | $ | 14,347,166 | 100 | % | $ | 14,076,835 | 100 | % | $ | 13,909,961 | 100 | % | $ | 13,812,955 | 100 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deposits by customer segment | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Consumer | $ | 6,173,567 | 42 | % | $ | 6,014,105 | 42 | % | $ | 6,060,115 | 43 | % | $ | 6,063,015 | 44 | % | $ | 5,966,458 | 43 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Commercial | 6,822,469 | 47 | % | 6,354,797 | 44 | % | 6,155,874 | 44 | % | 6,162,221 | 44 | % | 6,045,418 | 44 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Public | 1,669,960 | 11 | % | 1,978,264 | 14 | % | 1,860,846 | 13 | % | 1,684,725 | 12 | % | 1,801,079 | 13 | % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total | $ | 14,665,996 | 100 | % | $ | 14,347,166 | 100 | % | $ | 14,076,835 | 100 | % | $ | 13,909,961 | 100 | % | $ | 13,812,955 | 100 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Estimated insured or collateralized deposits | $ | 10,289,614 | $ | 10,208,000 | $ | 10,017,773 | $ | 9,825,599 | $ | 9,871,337 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Estimated uninsured and uncollateralized deposits(c) | $ | 4,376,382 | $ | 4,139,166 | $ | 4,059,062 | $ | 4,084,362 | $ | 3,941,618 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Estimated uninsured and uncollateralized deposits as a % of total deposits(c) | 29.8 | % | 28.9 | % | 28.8 | % | 29.4 | % | 28.5 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(a) Prior period amounts have been recast to reflect updated definitions of market categories.
(b) Includes deposits related to escrow balances from mortgage and specialty lending servicing portfolios and treasury/other deposits.
(c) Amounts are shown on a fully consolidated basis and exclude deposits of affiliates that are eliminated in consolidation.
| FB Financial Corporation | 14 | |||||||
| Preliminary Capital Ratios | ||||||||||||||
| (Unaudited) | ||||||||||||||
| (Dollars in Thousands) | ||||||||||||||
| Computation of tangible common equity to tangible assets: | September 30, 2026 | December 31, 2025 | ||||||||||||
| Total common shareholders' equity | $ | 1,933,646 | $ | 1,948,165 | ||||||||||
| Less: | ||||||||||||||
| Goodwill | 350,353 | 350,353 | ||||||||||||
| Other intangibles | 25,870 | 31,284 | ||||||||||||
| Tangible common equity | $ | 1,557,423 | $ | 1,566,528 | ||||||||||
| Total assets | $ | 17,093,991 | $ | 16,300,292 | ||||||||||
| Less: | ||||||||||||||
| Goodwill | 350,353 | 350,353 | ||||||||||||
| Other intangibles | 25,870 | 31,284 | ||||||||||||
| Tangible assets | $ | 16,717,768 | $ | 15,918,655 | ||||||||||
| Preliminary total risk-weighted assets | $ | 15,027,713 | $ | 14,253,337 | ||||||||||
| Total common equity to total assets | 11.3 | % | 12.0 | % | ||||||||||
| Tangible common equity to tangible assets* | 9.32 | % | 9.84 | % | ||||||||||
| September 30, 2026 | December 31, 2025 | |||||||||||||
| Preliminary regulatory capital: | ||||||||||||||
| Common equity Tier 1 capital | $ | 1,645,994 | $ | 1,625,952 | ||||||||||
| Tier 1 capital | 1,645,994 | 1,625,952 | ||||||||||||
| Total capital | 2,041,803 | 1,888,051 | ||||||||||||
| Preliminary regulatory capital ratios: | ||||||||||||||
| Common equity Tier 1 | 11.0 | % | 11.4 | % | ||||||||||
| Tier 1 risk-based | 11.0 | % | 11.4 | % | ||||||||||
| Total risk-based | 13.6 | % | 13.2 | % | ||||||||||
| Tier 1 leverage | 10.0 | % | 10.3 | % | ||||||||||
| FB Financial Corporation | 15 | |||||||
| Segment Data | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| (Unaudited) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| (Dollars in Thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| As of or for the Three Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Banking segment | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest income | $ | 233,558 | $ | 226,981 | $ | 223,418 | $ | 233,202 | $ | 236,073 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest expense | 87,434 | 81,549 | 80,296 | 86,637 | 91,214 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net interest income | $ | 146,124 | $ | 145,432 | $ | 143,122 | $ | 146,565 | $ | 144,859 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Provisions for credit losses | 981 | 9,139 | 1,987 | 796 | 34,070 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Noninterest income | 15,027 | 14,403 | 13,962 | 15,207 | 13,078 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Salaries, commissions and employee benefits | 48,912 | 46,517 | 49,364 | 55,928 | 51,441 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Merger and integration costs | — | — | 1,447 | 4,611 | 16,057 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other noninterest expense | 33,575 | 32,602 | 30,765 | 33,017 | 29,471 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pre-tax net contribution after allocations | $ | 77,683 | $ | 71,577 | $ | 73,521 | $ | 67,420 | $ | 26,898 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total assets | $ | 16,232,445 | $ | 16,015,694 | $ | 15,703,248 | $ | 15,623,962 | $ | 15,598,629 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Efficiency ratio | 51.2 | % | 49.5 | % | 51.9 | % | 57.8 | % | 61.4 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Adjusted efficiency ratio* | 50.8 | % | 49.1 | % | 50.9 | % | 53.5 | % | 50.6 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Mortgage segment | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest income | $ | 2,549 | $ | 2,457 | $ | 1,932 | $ | 2,036 | $ | 825 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest expense | (1,273) | (1,083) | (911) | (1,203) | (1,556) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net interest income | $ | 3,822 | $ | 3,540 | $ | 2,843 | $ | 3,239 | $ | 2,381 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Provisions for credit losses | 443 | 977 | 1,037 | 436 | 347 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Mortgage banking income | 9,425 | 11,170 | 12,253 | 13,505 | 13,484 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other noninterest income | 88 | 207 | 160 | 83 | 73 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Salaries, commissions and employee benefits | 7,142 | 6,815 | 7,984 | 7,601 | 7,769 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other noninterest expense | 6,405 | 5,546 | 5,604 | 6,391 | 5,118 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pre-tax net (loss) contribution after allocations | $ | (655) | $ | 1,579 | $ | 631 | $ | 2,399 | $ | 2,704 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total assets | $ | 861,546 | $ | 780,407 | $ | 765,191 | $ | 676,330 | $ | 637,830 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Efficiency ratio | 101.6 | % | 82.9 | % | 89.1 | % | 83.2 | % | 80.9 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Adjusted efficiency ratio* | 96.5 | % | 83.6 | % | 89.6 | % | 83.2 | % | 80.9 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest rate lock commitments volume | $ | 330,303 | $ | 435,506 | $ | 490,265 | $ | 385,516 | $ | 432,149 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest rate lock commitments pipeline (period end) | $ | 83,316 | $ | 103,853 | $ | 133,669 | $ | 86,586 | $ | 128,961 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Mortgage loan sales | $ | 230,476 | $ | 377,406 | $ | 295,123 | $ | 336,085 | $ | 343,450 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gains and fees from origination and sale of mortgage loans held for sale | $ | 8,168 | $ | 9,410 | $ | 8,517 | $ | 9,976 | $ | 9,237 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net change in fair value of loans held for sale, derivatives, and other | (1,717) | (1,021) | 1,008 | (57) | 801 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Mortgage servicing income | 6,452 | 6,494 | 6,580 | 6,668 | 6,836 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Change in fair value of mortgage servicing rights, net of hedging | (3,478) | (3,713) | (3,852) | (3,082) | (3,390) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total mortgage banking income | $ | 9,425 | $ | 11,170 | $ | 12,253 | $ | 13,505 | $ | 13,484 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mortgage sale margin(a) | 3.54 | % | 2.49 | % | 2.89 | % | 2.97 | % | 2.69 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
*This represents a non-GAAP financial measure; See “Use of non-GAAP Financial Measures” and non-GAAP reconciliations herein.
(a) Calculated by dividing gains and fees from origination and sale of mortgage loans held for sale by total mortgage sales.
| FB Financial Corporation | 16 | |||||||
| Non-GAAP Reconciliations | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| (Unaudited) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| (Dollars in Thousands, Except Per Share Data) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Adjusted net income | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Sep 2026 | Sep 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Income before income taxes | $ | 77,028 | $ | 73,156 | $ | 74,152 | $ | 69,819 | $ | 29,602 | $ | 224,336 | $ | 68,699 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Less (loss) gain from securities, net | (241) | — | 1 | 64 | 12 | (240) | (60,521) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Less loss on sales or write-downs of premises and equipment, other real estate owned and other assets, net | (34) | (377) | (320) | (131) | (646) | (731) | (1,035) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Less cash life insurance benefit | — | — | 763 | 1,148 | — | 763 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Plus initial provision for credit losses on acquired loans and unfunded commitments | — | — | — | — | 28,366 | — | 28,366 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Plus early retirement and severance costs | — | — | — | 1,395 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Plus loan subservicer transition costs | 719 | — | — | — | — | 719 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Plus (gain) loss on lease terminations and other branch closure costs | — | (42) | 5 | 12 | 270 | (37) | 270 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Plus charitable contribution to FirstBank Foundation | — | — | — | 1,130 | — | — | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Plus merger and integration costs | — | — | 1,447 | 4,611 | 16,057 | 1,447 | 19,192 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Adjusted pre-tax net income | 78,022 | 73,491 | 75,160 | 75,886 | 74,929 | 226,673 | 178,083 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Less income tax expense, adjusted for items above(a) | 17,085 | 14,586 | 16,889 | 14,392 | 17,323 | 48,560 | 30,835 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Plus income tax benefit(b) | — | — | — | — | — | — | (8,713) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Adjusted net income | $ | 60,937 | $ | 58,905 | $ | 58,271 | $ | 61,494 | $ | 57,606 | $ | 178,113 | $ | 138,535 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Weighted average common shares outstanding - fully diluted | 50,286,830 | 51,693,688 | 52,203,469 | 53,074,753 | 53,957,062 | 51,377,179 | 49,054,448 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Adjusted diluted earnings per common share | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Diluted earnings per common share | $ | 1.20 | $ | 1.13 | $ | 1.10 | $ | 1.07 | $ | 0.43 | $ | 3.43 | $ | 1.34 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Adjusted diluted earnings per common share | $ | 1.21 | $ | 1.14 | $ | 1.12 | $ | 1.16 | $ | 1.07 | $ | 3.47 | $ | 2.82 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| (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. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| FB Financial Corporation | 17 | |||||||
| Non-GAAP Reconciliations (continued) | ||||||||||||||||||||||||||||||||||||||||||||
| (Unaudited) | ||||||||||||||||||||||||||||||||||||||||||||
| (Dollars in Thousands) | ||||||||||||||||||||||||||||||||||||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||
| Adjusted pre-tax pre-provision net revenue | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Sep 2026 | Sep 2025 | |||||||||||||||||||||||||||||||||||||
| Income before income taxes | $ | 77,028 | $ | 73,156 | $ | 74,152 | $ | 69,819 | $ | 29,602 | $ | 224,336 | $ | 68,699 | ||||||||||||||||||||||||||||||
| Plus provisions for credit losses | 1,424 | 10,116 | 3,024 | 1,232 | 34,417 | 14,564 | 42,046 | |||||||||||||||||||||||||||||||||||||
| Pre-tax pre-provision net revenue | 78,452 | 83,272 | 77,176 | 71,051 | 64,019 | 238,900 | 110,745 | |||||||||||||||||||||||||||||||||||||
| Less (loss) gain from securities, net | (241) | — | 1 | 64 | 12 | (240) | (60,521) | |||||||||||||||||||||||||||||||||||||
| Less loss on sales or write-downs of premises and equipment, other real estate owned and other assets, net | (34) | (377) | (320) | (131) | (646) | (731) | (1,035) | |||||||||||||||||||||||||||||||||||||
| Less cash life insurance benefit | — | — | 763 | 1,148 | — | 763 | — | |||||||||||||||||||||||||||||||||||||
| Plus early retirement and severance costs | — | — | — | 1,395 | — | — | — | |||||||||||||||||||||||||||||||||||||
| Plus loan subservicer transition costs | 719 | — | — | — | — | 719 | — | |||||||||||||||||||||||||||||||||||||
| Plus (gain) loss on lease terminations and other branch closure costs | — | (42) | 5 | 12 | 270 | (37) | 270 | |||||||||||||||||||||||||||||||||||||
| Plus charitable contribution to FirstBank Foundation | — | — | — | 1,130 | — | — | — | |||||||||||||||||||||||||||||||||||||
| Plus merger and integration costs | — | — | 1,447 | 4,611 | 16,057 | 1,447 | 19,192 | |||||||||||||||||||||||||||||||||||||
| Adjusted pre-tax pre-provision net revenue | $ | 79,446 | $ | 83,607 | $ | 78,184 | $ | 77,118 | $ | 80,980 | $ | 241,237 | $ | 191,763 | ||||||||||||||||||||||||||||||
| FB Financial Corporation | 18 | |||||||
| Non-GAAP Reconciliations (continued) | ||||||||||||||||||||||||||||||||||||||||||||
| (Unaudited) | ||||||||||||||||||||||||||||||||||||||||||||
| (Dollars in Thousands) | ||||||||||||||||||||||||||||||||||||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||
| Adjusted tangible net income | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Sep 2026 | Sep 2025 | |||||||||||||||||||||||||||||||||||||
| Income before income taxes | $ | 77,028 | $ | 73,156 | $ | 74,152 | $ | 69,819 | $ | 29,602 | $ | 224,336 | $ | 68,699 | ||||||||||||||||||||||||||||||
| Plus amortization of core deposit and other intangibles | 1,741 | 1,804 | 1,869 | 1,932 | 2,079 | 5,414 | 3,366 | |||||||||||||||||||||||||||||||||||||
| Less (loss) gain from securities, net | (241) | — | 1 | 64 | 12 | (240) | (60,521) | |||||||||||||||||||||||||||||||||||||
| Less loss on sales or write-downs of premises and equipment, other real estate owned and other assets, net | (34) | (377) | (320) | (131) | (646) | (731) | (1,035) | |||||||||||||||||||||||||||||||||||||
| Less cash life insurance benefit | — | — | 763 | 1,148 | — | 763 | — | |||||||||||||||||||||||||||||||||||||
| Plus initial provision for credit losses on acquired loans and unfunded commitments | — | — | — | — | 28,366 | — | 28,366 | |||||||||||||||||||||||||||||||||||||
| Plus early retirement and severance costs | — | — | — | 1,395 | — | — | — | |||||||||||||||||||||||||||||||||||||
| Plus loan subservicer transition costs | 719 | — | — | — | — | 719 | — | |||||||||||||||||||||||||||||||||||||
| Plus (gain) loss on lease terminations and other branch closure costs | — | (42) | 5 | 12 | 270 | (37) | 270 | |||||||||||||||||||||||||||||||||||||
| Plus charitable contribution to FirstBank Foundation | — | — | — | 1,130 | — | — | — | |||||||||||||||||||||||||||||||||||||
| Plus merger and integration costs | — | — | 1,447 | 4,611 | 16,057 | 1,447 | 19,192 | |||||||||||||||||||||||||||||||||||||
Less income tax expense, adjusted for items above(a) | 17,539 | 15,056 | 17,376 | 14,895 | 17,864 | 49,971 | 31,711 | |||||||||||||||||||||||||||||||||||||
Plus income tax benefit(b) | — | — | — | — | — | — | (8,713) | |||||||||||||||||||||||||||||||||||||
| Adjusted tangible net income | $ | 62,224 | $ | 60,239 | $ | 59,653 | $ | 62,923 | $ | 59,144 | $ | 182,116 | $ | 141,025 | ||||||||||||||||||||||||||||||
| (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. | ||||||||||||||||||||||||||||||||||||||||||||
| FB Financial Corporation | 19 | |||||||
| Non-GAAP Reconciliations (continued) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| (Unaudited) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| (Dollars in Thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Adjusted efficiency ratio (tax- equivalent basis) | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Sep 2026 | Sep 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total noninterest expense | $ | 96,034 | $ | 91,480 | $ | 95,164 | $ | 107,548 | $ | 109,856 | $ | 282,678 | $ | 270,666 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Less early retirement and severance costs | — | — | — | 1,395 | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Less loan subservicer transition costs | 719 | — | — | — | — | 719 | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Less (gain) loss on lease terminations and other branch closure costs | — | (42) | 5 | 12 | 270 | (37) | 270 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Less charitable contribution to FirstBank Foundation | — | — | — | 1,130 | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Less merger and integration costs | — | — | 1,447 | 4,611 | 16,057 | 1,447 | 19,192 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Adjusted noninterest expense | $ | 95,315 | $ | 91,522 | $ | 93,712 | $ | 100,400 | $ | 93,529 | $ | 280,549 | $ | 251,204 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net interest income | $ | 149,946 | $ | 148,972 | $ | 145,965 | $ | 149,804 | $ | 147,240 | $ | 444,883 | $ | 366,296 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net interest income (tax-equivalent basis) | 150,807 | 149,788 | 146,774 | 150,642 | 148,088 | 447,369 | 368,751 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total noninterest income | 24,540 | 25,780 | 26,375 | 28,795 | 26,635 | 76,695 | 15,115 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Less (loss) gain from securities, net | (241) | — | 1 | 64 | 12 | (240) | (60,521) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Less loss on sales or write-downs of premises and equipment, other real estate owned and other assets, net | (34) | (377) | (320) | (131) | (646) | (731) | (1,035) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Less cash life insurance benefit | — | — | 763 | 1,148 | — | 763 | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Adjusted noninterest income | 24,815 | 26,157 | 25,931 | 27,714 | 27,269 | 76,903 | 76,671 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total revenue | $ | 174,486 | $ | 174,752 | $ | 172,340 | $ | 178,599 | $ | 173,875 | $ | 521,578 | $ | 381,411 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Adjusted revenue (tax-equivalent basis) | $ | 175,622 | $ | 175,945 | $ | 172,705 | $ | 178,356 | $ | 175,357 | $ | 524,272 | $ | 445,422 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Efficiency ratio | 55.0 | % | 52.3 | % | 55.2 | % | 60.2 | % | 63.2 | % | 54.2 | % | 71.0 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Adjusted efficiency ratio (tax- equivalent basis) | 54.3 | % | 52.0 | % | 54.3 | % | 56.3 | % | 53.3 | % | 53.5 | % | 56.4 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| FB Financial Corporation | 20 | |||||||
| Non-GAAP Reconciliations (continued) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| (Unaudited) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| (Dollars in Thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Banking segment adjusted efficiency ratio (tax-equivalent) | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Sep 2026 | Sep 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Banking segment noninterest expense | $ | 82,487 | $ | 79,119 | $ | 81,576 | $ | 93,556 | $ | 96,969 | $ | 243,182 | $ | 231,208 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Less early retirement and severance costs | — | — | — | 1,395 | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Less (gain) loss on lease terminations and other branch closure costs | — | (42) | 5 | 12 | 270 | (37) | 270 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Less charitable contribution to FirstBank Foundation | — | — | — | 1,130 | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Less merger and integration costs | — | — | 1,447 | 4,611 | 16,057 | 1,447 | 19,192 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Banking segment adjusted noninterest expense | $ | 82,487 | $ | 79,161 | $ | 80,124 | $ | 86,408 | $ | 80,642 | $ | 241,772 | $ | 211,746 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Banking segment net interest income | $ | 146,124 | $ | 145,432 | $ | 143,122 | $ | 146,565 | $ | 144,859 | $ | 434,678 | $ | 359,527 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Banking segment net interest income (tax-equivalent basis) | 146,985 | 146,248 | 143,931 | 147,403 | 145,707 | 437,164 | 361,982 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Banking segment noninterest income (loss) | 15,027 | 14,403 | 13,962 | 15,207 | 13,078 | 43,392 | (23,982) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Less (loss) gain from securities, net | (241) | — | 1 | 64 | 12 | (240) | (60,521) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Less cash life insurance benefit | — | — | 763 | 1,148 | — | 763 | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Less loss on sales or write-downs of premises and equipment, other real estate owned and other assets, net | (72) | (515) | (409) | (131) | (646) | (996) | (940) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Banking segment adjusted noninterest income | 15,340 | 14,918 | 13,607 | 14,126 | 13,712 | 43,865 | 37,479 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Banking segment total revenue | $ | 161,151 | $ | 159,835 | $ | 157,084 | $ | 161,772 | $ | 157,937 | $ | 478,070 | $ | 335,545 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Banking segment total adjusted revenue (tax-equivalent basis) | $ | 162,325 | $ | 161,166 | $ | 157,538 | $ | 161,529 | $ | 159,419 | $ | 481,029 | $ | 399,461 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Banking segment efficiency ratio | 51.2 | % | 49.5 | % | 51.9 | % | 57.8 | % | 61.4 | % | 50.9 | % | 68.9 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Banking segment adjusted efficiency ratio (tax-equivalent basis) | 50.8 | % | 49.1 | % | 50.9 | % | 53.5 | % | 50.6 | % | 50.3 | % | 53.0 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| FB Financial Corporation | 21 | |||||||
| Non-GAAP Reconciliations (continued) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Unaudited | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| (Dollars in Thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Mortgage segment adjusted efficiency ratio (tax-equivalent) | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Sep 2026 | Sep 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Mortgage segment noninterest expense | $ | 13,547 | $ | 12,361 | $ | 13,588 | $ | 13,992 | $ | 12,887 | $ | 39,496 | $ | 39,458 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Less loan subservicer transition costs | 719 | — | — | — | — | 719 | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Mortgage segment adjusted noninterest expense | $ | 12,828 | $ | 12,361 | $ | 13,588 | $ | 13,992 | $ | 12,887 | $ | 38,777 | $ | 39,458 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Mortgage segment net interest income | $ | 3,822 | $ | 3,540 | $ | 2,843 | $ | 3,239 | $ | 2,381 | $ | 10,205 | $ | 6,769 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Mortgage segment noninterest income | 9,513 | 11,377 | 12,413 | 13,588 | 13,557 | 33,303 | 39,097 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Less gain (loss) on sales or write-downs of premises and equipment, other real estate owned and other assets, net | 38 | 138 | 89 | — | — | 265 | (95) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Mortgage segment adjusted noninterest income | 9,475 | 11,239 | 12,324 | 13,588 | 13,557 | 33,038 | 39,192 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Mortgage segment total revenue | $ | 13,335 | $ | 14,917 | $ | 15,256 | $ | 16,827 | $ | 15,938 | $ | 43,508 | $ | 45,866 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Mortgage segment adjusted total revenue | $ | 13,297 | $ | 14,779 | $ | 15,167 | $ | 16,827 | $ | 15,938 | $ | 43,243 | $ | 45,961 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Mortgage segment efficiency ratio | 101.6 | % | 82.9 | % | 89.1 | % | 83.2 | % | 80.9 | % | 90.8 | % | 86.0 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Mortgage segment adjusted efficiency ratio (tax-equivalent basis) | 96.5 | % | 83.6 | % | 89.6 | % | 83.2 | % | 80.9 | % | 89.7 | % | 85.9 | % | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| FB Financial Corporation | 22 | |||||||
| Non-GAAP Reconciliations (continued) | ||||||||||||||||||||||||||||||||||||||
| (Unaudited) | ||||||||||||||||||||||||||||||||||||||
| (Dollars in Thousands, Except Per Share Data) | ||||||||||||||||||||||||||||||||||||||
| As of | ||||||||||||||||||||||||||||||||||||||
| Tangible assets, common equity and related measures | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | |||||||||||||||||||||||||||||||||
| Tangible assets | ||||||||||||||||||||||||||||||||||||||
| Total assets | $ | 17,093,991 | $ | 16,796,101 | $ | 16,468,439 | $ | 16,300,292 | $ | 16,236,459 | ||||||||||||||||||||||||||||
| Less goodwill | 350,353 | 350,353 | 350,353 | 350,353 | 350,353 | |||||||||||||||||||||||||||||||||
| Less intangibles, net | 25,870 | 27,611 | 29,415 | 31,284 | 33,216 | |||||||||||||||||||||||||||||||||
| Tangible assets | $ | 16,717,768 | $ | 16,418,137 | $ | 16,088,671 | $ | 15,918,655 | $ | 15,852,890 | ||||||||||||||||||||||||||||
| Tangible common equity | ||||||||||||||||||||||||||||||||||||||
| Total common shareholders’ equity | $ | 1,933,646 | $ | 1,936,531 | $ | 1,973,873 | $ | 1,948,165 | $ | 1,978,043 | ||||||||||||||||||||||||||||
| Less goodwill | 350,353 | 350,353 | 350,353 | 350,353 | 350,353 | |||||||||||||||||||||||||||||||||
| Less intangibles, net | 25,870 | 27,611 | 29,415 | 31,284 | 33,216 | |||||||||||||||||||||||||||||||||
| Tangible common equity | $ | 1,557,423 | $ | 1,558,567 | $ | 1,594,105 | $ | 1,566,528 | $ | 1,594,474 | ||||||||||||||||||||||||||||
| Common shares outstanding | 49,443,360 | 49,976,755 | 51,418,024 | 51,752,401 | 53,456,522 | |||||||||||||||||||||||||||||||||
| Book value per common share | $ | 39.11 | $ | 38.75 | $ | 38.39 | $ | 37.64 | $ | 37.00 | ||||||||||||||||||||||||||||
| Tangible book value per common share | $ | 31.50 | $ | 31.19 | $ | 31.00 | $ | 30.27 | $ | 29.83 | ||||||||||||||||||||||||||||
| Total common shareholders’ equity to total assets | 11.3 | % | 11.5 | % | 12.0 | % | 12.0 | % | 12.2 | % | ||||||||||||||||||||||||||||
| Tangible common equity to tangible assets | 9.32 | % | 9.49 | % | 9.91 | % | 9.84 | % | 10.1 | % | ||||||||||||||||||||||||||||
| On-balance sheet liquidity: | ||||||||||||||||||||||||||||||||||||||
| Cash and cash equivalents | $ | 1,017,689 | $ | 1,112,357 | $ | 1,157,763 | $ | 1,155,895 | $ | 1,280,033 | ||||||||||||||||||||||||||||
| Unpledged securities | 731,483 | 691,290 | 637,182 | 649,000 | 608,716 | |||||||||||||||||||||||||||||||||
| Equity securities, at fair value | 5,759 | 6,000 | — | 155 | 1,450 | |||||||||||||||||||||||||||||||||
| Total on-balance sheet liquidity | $ | 1,754,931 | $ | 1,809,647 | $ | 1,794,945 | $ | 1,805,050 | $ | 1,890,199 | ||||||||||||||||||||||||||||
| On-balance sheet liquidity as a percentage of total assets | 10.3 | % | 10.8 | % | 10.9 | % | 11.1 | % | 11.6 | % | ||||||||||||||||||||||||||||
| On-balance sheet liquidity as a percentage of total tangible assets | 10.5 | % | 11.0 | % | 11.2 | % | 11.3 | % | 11.9 | % | ||||||||||||||||||||||||||||
| FB Financial Corporation | 23 | |||||||
| Non-GAAP Reconciliations (continued) | ||||||||||||||||||||||||||||||||||||||||||||||||||
| (Unaudited) | ||||||||||||||||||||||||||||||||||||||||||||||||||
| (Dollars in Thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||
| Adjusted return on average tangible common equity and related measures | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Sep 2026 | Sep 2025 | |||||||||||||||||||||||||||||||||||||||||||
| Average common shareholders’ equity | $ | 1,951,116 | $ | 1,987,199 | $ | 1,965,877 | $ | 1,956,633 | $ | 1,977,785 | $ | 1,968,010 | $ | 1,716,391 | ||||||||||||||||||||||||||||||||||||
| Less average goodwill | 350,353 | 350,353 | 350,353 | 350,353 | 350,355 | 350,353 | 278,887 | |||||||||||||||||||||||||||||||||||||||||||
| Less average intangibles, net | 26,782 | 28,631 | 30,394 | 32,301 | 34,983 | 28,589 | 15,175 | |||||||||||||||||||||||||||||||||||||||||||
| Average tangible common equity | $ | 1,573,981 | $ | 1,608,215 | $ | 1,585,130 | $ | 1,573,979 | $ | 1,592,447 | $ | 1,589,068 | $ | 1,422,329 | ||||||||||||||||||||||||||||||||||||
| Net income | $ | 60,202 | $ | 58,649 | $ | 57,526 | $ | 56,977 | $ | 23,375 | $ | 176,377 | $ | 65,645 | ||||||||||||||||||||||||||||||||||||
| Return on average common equity | 12.2 | % | 11.8 | % | 11.9 | % | 11.6 | % | 4.69 | % | 12.0 | % | 5.11 | % | ||||||||||||||||||||||||||||||||||||
| Return on average tangible common equity | 15.2 | % | 14.6 | % | 14.7 | % | 14.4 | % | 5.82 | % | 14.8 | % | 6.17 | % | ||||||||||||||||||||||||||||||||||||
| Adjusted tangible net income | $ | 62,224 | $ | 60,239 | $ | 59,653 | $ | 62,923 | $ | 59,144 | $ | 182,116 | $ | 141,025 | ||||||||||||||||||||||||||||||||||||
| Adjusted return on average tangible common equity | 15.7 | % | 15.0 | % | 15.3 | % | 15.9 | % | 14.7 | % | 15.3 | % | 13.3 | % | ||||||||||||||||||||||||||||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||||||||||||||||||||
| Adjusted return on average assets, common equity and related measures | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Sep 2026 | Sep 2025 | |||||||||||||||||||||||||||||||||||||
| Net income | $ | 60,202 | $ | 58,649 | $ | 57,526 | $ | 56,977 | $ | 23,375 | $ | 176,377 | $ | 65,645 | ||||||||||||||||||||||||||||||
| Average assets | 16,735,777 | 16,334,014 | 16,258,272 | 16,151,195 | 16,007,788 | 16,444,437 | 14,092,675 | |||||||||||||||||||||||||||||||||||||
| Average common equity | 1,951,116 | 1,987,199 | 1,965,877 | 1,956,633 | 1,977,785 | 1,968,010 | 1,716,391 | |||||||||||||||||||||||||||||||||||||
| Return on average assets | 1.43 | % | 1.44 | % | 1.43 | % | 1.40 | % | 0.58 | % | 1.43 | % | 0.62 | % | ||||||||||||||||||||||||||||||
| Return on average common equity | 12.2 | % | 11.8 | % | 11.9 | % | 11.6 | % | 4.69 | % | 12.0 | % | 5.11 | % | ||||||||||||||||||||||||||||||
| Adjusted net income | $ | 60,937 | $ | 58,905 | $ | 58,271 | $ | 61,494 | $ | 57,606 | $ | 178,113 | $ | 138,535 | ||||||||||||||||||||||||||||||
| Adjusted return on average assets | 1.44 | % | 1.45 | % | 1.45 | % | 1.51 | % | 1.43 | % | 1.45 | % | 1.31 | % | ||||||||||||||||||||||||||||||
| Adjusted return on average common equity | 12.4 | % | 11.9 | % | 12.0 | % | 12.5 | % | 11.6 | % | 12.1 | % | 10.8 | % | ||||||||||||||||||||||||||||||
| Adjusted pre-tax pre-provision net revenue | $ | 79,446 | $ | 83,607 | $ | 78,184 | $ | 77,118 | $ | 80,980 | $ | 241,237 | $ | 191,763 | ||||||||||||||||||||||||||||||
| Adjusted pre-tax pre-provision return on average assets | 1.88 | % | 2.05 | % | 1.95 | % | 1.89 | % | 2.01 | % | 1.96 | % | 1.82 | % | ||||||||||||||||||||||||||||||
| FB Financial Corporation | 24 | |||||||
October 13, 2026 2026 Third Quarter Earnings Presentation
1 Forward–looking statements Certain statements contained in this Presentation that are not historical in nature may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements represent the Company’s current expectations, plans or forecasts of its or its business segments’ future results, which may include, among other measures, revenue, liquidity, net interest income, other income, provision for credit losses, expenses, operating leverage, effective tax rate, efficiency ratio, capital measures, deposits and assets, as well as strategy, future business and economic conditions more generally, and other future matters. 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,” 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 the Company’s control. The inclusion of these forward-looking statements should not be regarded as a representation by the Company or any other person that such expectations, estimates, and projections will be achieved. Accordingly, the Company 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 global supply chain, supply-demand imbalances affecting local real estate prices, and high unemployment rates in the local or regional economies in which the Company operates and/or the US economy generally, (2) changes or the lack of changes in government interest rate policies and the associated impact on the Company’s business, net interest margin, funding costs, and mortgage operations, (3) increased competition for loans and deposits and the Company’s ability to sustain loan and deposit growth, (4) changes in the quality or composition of the Company’s loan or investment portfolios, including adverse developments in borrower industries or in the repayment ability of individual borrowers or issuers of investment securities, the impact of interest rates on the value of the Company’s investment securities portfolio, or the adequacy of the Company’s allowance for credit losses, (5) any deterioration in commercial real estate market fundamentals, (6) the Company’s ability to identify potential candidates for, consummate, and achieve synergies from acquisitions, including risks that cost savings and other synergies from completed or future acquisitions may not be realized (or may be less than or delayed from expectations), challenges in integrating acquired businesses, disruptions to customer, employee, or other relationships, diversion of management attention, and the ability to effectively manage larger or more complex operations post-transaction, (7) the Company’s ability to manage any unexpected outflows of uninsured deposits and to avoid selling investment securities or other assets at an unfavorable time or at a loss, (8) the Company’s ability to successfully execute its various business strategies, including its investments in talent and growth initiatives and the effect of those investments on expenses and operating leverage, (9) changes in state and federal legislation, regulations or policies applicable to banks and other financial service providers, and changes in accounting standards, (10) the effectiveness of the Company’s controls and procedures to detect, prevent, mitigate and otherwise manage the risk of fraud or misconduct by internal or external parties, including attempted physical-security and cybersecurity attacks, denial-of-service attacks, hacking, phishing, social-engineering attacks, malware intrusion, data-corruption attempts, system breaches, identity theft, ransomware attacks, environmental conditions, and intentional acts of destruction, (11) the Company’s dependence on information technology systems of third-party service providers and the risk of systems failures, interruptions, or breaches of security, (12) the impact, extent and timing of technological changes, including the adoption and use of artificial intelligence and other emerging technologies, (13) concentrations of credit or deposit exposure, (14) the impact of natural disasters, pandemics, acts or escalation of war or acts of terrorism, or other catastrophic events, (15) events giving rise to international or regional political instability, including the broader impacts of such events on financial markets and/or global macroeconomic environments, (16) the Company’s ability to attract and retain key employees in a competitive labor market, (17) the Company’s ability to access capital and liquidity on terms acceptable to the Company, to effectively deploy capital, including the proceeds of its recent subordinated debt issuance, and the amount and timing of any future share repurchases, (18) changes to the Company’s preliminary regulatory capital ratios as they are finalized, and/or (19) general competitive, economic, political, and market conditions. Further information regarding the Company and factors which could affect the forward-looking statements contained herein can be found in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, and in any of the Company’s subsequent filings with the SEC. Many of these factors are beyond the Company’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 Presentation, and the Company 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 the Company to predict their occurrence or how they will affect the Company. The Company qualifies all forward-looking statements by these cautionary statements.
2 Use of non-GAAP financial measures This Presentation contains certain financial measures that are not measures recognized under U.S. generally accepted accounting principles (“GAAP”) and therefore are considered non-GAAP financial measures. These non-GAAP financial measures may include, without limitation, adjusted net income, adjusted diluted earnings per common share, adjusted pre-tax pre-provision net revenue, consolidated and segment adjusted revenue, consolidated and segment adjusted noninterest expense and adjusted noninterest income, consolidated and segment adjusted efficiency ratio (tax-equivalent basis), adjusted return on average assets and equity, and adjusted pre-tax pre-provision return on average assets. Each of these non-GAAP metrics excludes certain income and expense items that the Company’s management does not consider indicative of the Company's ongoing operating performance. The Company refers to these non-GAAP measures as adjusted measures. Also, the Company presents tangible assets, tangible common equity, tangible book value per common share, tangible common equity to tangible assets, on-balance sheet liquidity to tangible assets, return on average tangible common equity, and adjusted return on average tangible common equity. Each of these non-GAAP metrics excludes the impact of goodwill and other intangibles. The Company’s management uses these non-GAAP financial measures in their analysis of the Company’s performance, financial condition and the efficiency of its operations as management believes such measures facilitate period-to-period comparisons and provide meaningful indications of the Company’s operating performance as they eliminate both gains and charges that management views as non-recurring or not indicative of operating performance. Management believes that these non-GAAP financial measures provide a greater understanding of ongoing operations and enhance comparability of results with prior periods as well as demonstrate the effects of significant gains and charges excluded from the adjusted measures in the current and prior periods. The Company’s management also believes that investors find these non-GAAP financial measures useful as they assist investors in understanding the Company’s underlying operating performance and in the analysis of ongoing operating trends. In addition, because intangible assets such as goodwill and the other items excluded each vary extensively from company to company, the Company believes that the presentation of this information allows investors to more easily compare the Company’s results to the results of other companies. However, the non-GAAP financial measures discussed herein should not be considered in isolation or as a substitute for the most directly comparable or other financial measures calculated in accordance with GAAP. Moreover, the manner in which the Company calculates the non-GAAP financial measures discussed herein may differ from that of other companies reporting measures with similar names. Investors should understand how such other banking organizations calculate their financial measures with names similar to the non-GAAP financial measures the Company has discussed herein when comparing such non-GAAP financial measures. See the corresponding non-GAAP reconciliation tables below in this Presentation for additional discussion and reconciliation of these measures to the most directly comparable GAAP financial measures.
3 3Q 2026 Results 1 Non-GAAP financial measure; See “Use of non-GAAP Financial Measures” and Non-GAAP reconciliations herein. Key highlights Earnings • Net income of $60.2 million or $60.9 million (adjusted)1 • Returns remain strong and within Company’s target ranges • Higher net interest income (NII); deposit cost pressures remain • ~$1mm drag on NII for nonaccrual interest reversal • Mortgage income impacted by sharp rate increases in the quarter • Lower provision expense with improved macro economic outlook Balance Sheet • Loans (HFI) balances increased 9.68% annualized • Deposit balances increased 8.82% annualized; client deposits increased 11.0% annualized • Growth mix spread across Commercial & Consumer customers Credit • ACL coverage ratio of 1.47% • Annualized net charge-offs of 0.04% • Modest credit costs and loan growth drive lower ratios in Q3 Capital • Completed $125 million growth capital subordinated debt issuance • 9.32% Tangible Common Equity to Tangible Assets ratio1 • Continued capital deployment through share repurchases • Minimal unrealized securities losses and no HTM securities Reported Adjusted1 Diluted earnings per common share $1.20 $1.21 Pre-Tax Pre-Provision Net Revenue ($mm) $78.5 $79.4 Net interest margin (tax-equivalent basis) 3.83% 3.83% Efficiency Ratio 55.0% 54.3% Return on average assets 1.43% 1.44% Return on average tangible common equity1 15.2% 15.7%
4 3Q 2026 Earnings Quarter ended $ Change from $ in thousands, except per share data 3Q26 2Q26 3Q25 2Q26 3Q25 Total Revenue 174,486 174,752 173,875 (266) 611 Provision for credit losses 1,424 10,116 34,417 (8,692) (32,993) Noninterest Expense 96,034 91,480 109,856 4,554 (13,822) Pre-tax income 77,028 73,156 29,602 3,872 47,426 Income tax expense 16,826 14,499 6,227 2,327 10,599 Noncontrolling Interest - 8 - (8) - Net income 60,202 58,649 23,375 1,553 36,827 Total non-gaap adjustments1 735 256 34,231 479 (33,496) Adjusted net income2 60,937 58,905 57,606 2,032 3,331 Diluted earnings per share $ 1.20 $ 1.13 $ 0.43 $ 0.07 $ 0.77 Adjusted diluted earnings per share2 $ 1.21 $ 1.14 $ 1.07 $ 0.07 $ 0.14 Non-GAAP Reconciliation $ in thousands 3Q26 Income before income taxes 77,028 Less loss from securities, net (241) Less loss on sales or write-downs of premises and equipment, other real estate owned and other assets, net (34) Plus loan subservicer transition costs 719 Less income tax expense, adj for items above 17,085 Adjusted Net Income2 60,937 Net Income 60,202 Total non-gaap adjustments1 735 1 Non-GAAP financial measure; Represents the aggregate total of items that comprise the difference between Net Income and Adjusted Net Income. See “Use of non-GAAP Financial Measures” and Non-GAAP reconciliations herein. 2 Non-GAAP financial measure; See “Use of non-GAAP Financial Measures” and Non-GAAP reconciliations herein. • Revenue stable in the quarter – • Supported by growing loan balances, stronger fees on swaps & investment services • Revenue negatively impacted by lower mortgage income and nonaccrual interest reversal • Modest provision expense and increased NIE on higher performance-based incentives • Higher tax expense the result of favorable Q2 impact of tax credit purchase
5 Driving shareholder value ¹ Non-GAAP financial measure; See “Use of non-GAAP Financial Measures” and Non-GAAP reconciliations herein. 2 3Q26 calculation is preliminary and subject to change. $2.57 $2.48 $2.45 $3.43 $3.01 $3.40 $3.99 $3.47 2023 2024 2025 2026 YTD Earnings per share Adjusted earnings per share Earnings per Share $14 $14 $20 $22 $25 $27 $30 $28 $31 $34 $38 $39 $12 $12 $15 $17 $19 $22 $25 $23 $26 $28 $30 $32 3Q16 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 3Q26 BVPS TBVPS 13.6% 13.2% 13.4% 12.9% 13.6% 3Q25 4Q25 1Q26 2Q26 3Q26 $81.0 $77.1 $78.2 $83.6 $79.4 3Q25 4Q25 1Q26 2Q26 3Q26 Book Value per Share Total RBC Ratio2 NPLs / Total Loans HFIAdjusted ROATCE1Adjusted PPNR1 (in millions) 1 1 $1,594 $1,567 $1,594 $1,559 $1,557 14.7% 15.9% 15.3% 15.0% 15.7% 3Q25 4Q25 1Q26 2Q26 3Q26 Tangible Common Equity Adj ROATCE11 0.94% 0.97% 0.96% 1.17% 1.18% 3Q25 4Q25 1Q26 2Q26 3Q26
6 Net Interest Margin $148.1 $150.6 $146.8 $149.8 $150.8 3.95% 3.98% 3.94% 3.95% 3.83% 3Q25 4Q25 1Q26 2Q26 3Q26 FTE NII / NIM Trend ($ millions) Net Interest Income (NII) Net Interest Margin (NIM) Highlights Net Interest Income Rollforward ($ in thousands) 2Q26 Net Interest Income $ 149,788 Impact of changes in loans (excl nonaccrual interest) 5,365 Impact of reversal of nonaccrual interest (1,024) Impact of changes in deposit volumes (2,805) Impact of changes in deposit rates (1,969) Impact of day count 1,637 Impact of all other changes (185) 3Q26 Net Interest Income $ 150,807 • NII increased in the quarter driven by strong loan growth and the benefit of 1 additional day in the quarter • NIM impacted by pressure on deposit costs, coupled with a 3 bps decline from an interest reversal on a nonaccrual loan • Contractual rates on loans held steady at 6.21% compared to 6.22% in the prior quarter
7 Noninterest Income & Expense $109.9 $91.5 $96.0 63.2% 52.3% 55.0% 3Q25 2Q26 3Q26 Noninterest Expense ($ millions) Noninterest Expense Efficiency Ratio $93.5 $91.5 $95.3 53.3% 52.0% 54.3% 3Q25 2Q26 3Q26 Adj. Noninterest Expense ($ millions) Adj. Noninterest Expense Adj. Efficiency Ratio $26.6 $25.8 $24.5 $27.3 $26.2 $24.8 3Q25 2Q26 3Q26 Noninterest Income ($ millions) Noninterest Income Adj. Noninterest Income Highlights 1 1 Non-GAAP financial measure; See "Use of non-GAAP Financial Measures” and Non-GAAP reconciliations herein. 1 1 1 Noninterest income: • Mortgage banking income decreased by $1.7mm from higher market rates & lower customer demand during the quarter, coupled with lower sales volumes • Swap fee income up $516k from increased customer interest rate risk management activity • Investment services and trust income increased $414k driven growth in assets under management Noninterest expense: • Higher performance-based compensation expenses of ~$2.4mm • $719k one-time charge for mortgage loan subservicer transition costs reflected in unadjusted figures • Other increases include Advertising & Data Processing
8 Loans HFI $12.30 $12.38 $12.50 $12.87 $13.18 6.75% 6.64% 6.51% 6.48% 6.42% 3Q25 4Q25 1Q26 2Q26 3Q26 Loans HFI / Total Yield ($ billions) Loans HFI Total Loan HFI Yield 1-4 family 16% 1-4 family HELOC 6% Multifamily 6% C&D 9% CRE 23% C&I 34% Other 6% Portfolio Mix $13.2 Billion 1 C&I includes owner-occupied CRE. 2 Excludes owner-occupied CRE. Note: Loan yield shown above includes a tax-equivalent adjustment using combined federal and blended state statutory income tax rate of 26.06%. 1 2 • Total Loans HFI up $314 million, or 9.68% annualized • Key growth categories include – • +$134 million in Resi First 1-4 • +$92 million in Commercial Real Estate • +$42 million in Multifamily • +$19 million in Construction • Loan yields lower on reversal of nonaccrual loan interest and lower accretion on purchased loans • Contractual rates on loans steady (down 1 bps)
9 Office 16% Retail 19% Hotel 17% Warehouse/Industrial 22% Land-Manufactured Housing 4% Self Storage 5% Healthcare Facility 2% Assisted Living Facility 7% Other 8% Residential Development 30% Commercial 41% Consumer 20% Multifamily 9% Construction 23% Land 5% Lots 2% Diversified loan portfolio CRE2 exposure by type Note: Data as of September 30, 2026. 1 C&I includes owner-occupied CRE. 2 Excludes owner-occupied CRE. 3Includes certain “assignment of catalog” lending which pertains to a security interest in a borrower’s intellectual property, at FirstBank this most notably applies to music catalogs. C&D exposure by type C&I1 Exposure by Industry ($ millions) Industry C&I CRE-OO Total % of Total Real estate rental and leasing $320 $272 $592 13% Retail trade 108 439 547 12% Manufacturing 244 293 537 12% Finance and insurance 355 17 372 8% Other services (except public administration) 84 286 370 8% Wholesale trade 196 98 294 7% Construction 198 90 288 6% Accommodation and food services 74 199 273 6% Health care and social assistance 52 213 265 6% Transportation and warehousing 131 94 225 5% Professional, scientific and technical services 123 60 183 4% Arts, entertainment and recreation 75 78 153 3% Administrative and support and waste management and remediation services 91 29 120 3% Information3 90 14 104 2% Other 118 100 218 5% Total $2,259 $2,282 $4,541 100% Land 20% Self Storage 2% Other 17% Construction 13% Land 7% Office 2%
10 Nashville 40% Memphis 6%Knoxville 3%Huntsville 6% Birmingham 15% Chattanooga 1% Other 7% Atlanta 9% Communities 13% Class A 22% Class B 42% Class C 12% Under $2 Million 24% Office exposure Geographic exposure Note: Data as of September 30, 2026. Data is only non-owner occupied CRE & C&D loans. Data excludes medical office buildings. Credit detail by class Class Outstanding ($mm) Avg. Balance ($mm) Wtd. Avg. LTV Wtd. Avg Occupancy Class A > $2 million $113.8 $8.1 57.5% 89.3% Class B > $2 million 215.8 5.4 63.2% 80.1% Class C > $2 million 61.5 6.2 64.1% 82.7% Total > $2 million $391.1 $6.1 61.7% 83.2% Total < $2 million 123.7 0.6 N/A N/A Total Office $514.8 $1.8 N/A N/A Exposure by class • Office loans as of 3Q26 – • Represent ~4% of total Loans HFI population • 98% of portfolio is pass rated and current • 12% (or $59.5mm) of portfolio matures by year-end 2026 • 51% fixed rate & 49% floating rate • Continuous monitoring of office loans greater than $2 million shows minimal concerns • Projects generally characterized by 25-30% cash equity requirement, loan to value maximums of 70%-75% at origination, and requests for guarantors
11 Valuable deposit base Cost of deposits 19.5% 18.9% 18.9% 19.3% 18.9% 2.53% 2.40% 2.27% 2.26% 2.32% 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% 3Q25 4Q25 1Q26 2Q26 3Q26 Noninterest-bearing as % of total deposits Cost of total deposits (%) Deposits by customer segment ($billions) • Deposit growth driven by new customer acquisition in both Consumer & Commercial • Lower brokered deposits driven by managed runoff of maturating balances • Deposit costs up 6 bps as deposit competition and market rates increase Highlights Noninterest -bearing checking 19% Interest- bearing checking 18% Money market & savings 43% Time 20% 37% Checking accounts Deposit composition $6.0 $6.1 $6.1 $6.0 $6.2 $6.0 $6.2 $6.1 $6.3 $6.8 $1.8 $1.7 $1.9 $2.0 $1.7 $13.8 $14.0 $14.1 $14.3 $14.7 3Q25 4Q25 1Q26 2Q26 3Q26 Consumer Commercial Public Total
12 $34,417 $1,232 $3,024 $10,116 $1,424 0.05% 0.05% 0.11% 0.06% 0.04% 3Q25 4Q25 1Q26 2Q26 3Q26 Provision for Credit Losses & Net Charge Offs ($ thousands) Provision for Credit Losses NCO Ratio (ann.) Asset Quality Metrics • Reserve levels remained steady – improved economic forecast largely offsets the reserves on new loans • Lower ACL coverage ratio on modest provision and strong loan growth in the quarter • Net charge-offs & Nonperforming asset ratios remain stable $185.0 $186.0 $186.3 $194.0 $194.0 1.50% 1.50% 1.49% 1.51% 1.47% 3Q25 4Q25 1Q26 2Q26 3Q26 Allowance for Credit Losses & Coverage Ratio ($ millions) ACL ACL Coverage Ratio 13Q25 provision expense includes the impact of day one provision for non-PCD acquired loans and unfunded commitments. 2Includes other real estate owned and repossessed assets–see page 13 of the 3Q26 Financial Supplement. Highlights 2 1 0.76% 0.80% 0.78% 0.95% 0.96% 0.13% 0.17% 0.20% 0.19% 0.17%0.89% 0.97% 0.98% 1.14% 1.13% 3Q25 4Q25 1Q26 2Q26 3Q26 Nonperforming Assets / Total Assets Other NPAs Optional GNMA repurchase
13 1.50% 1.21% 1.18% 0.96% 2.33% 1.60% 1.78% 1.48% 3.35% 1.51% 1.16% 1.39% 0.89% 2.37% 1.51% 1.77% 1.27% 3.29% 1.47% 1.14% 1.36% 0.86% 2.27% 1.45% 1.76% 1.23% 3.12% Gross Loans HFI Commercial & Industrial Non-Owner Occ CRE Owner Occ CRE Construction Multifamily 1-4 Family Mortgage 1-4 Family HELOC Consumer & Other 3Q25 2Q26 3Q26 Allowance Modeling & Reserve Allocation ACL on loans HFI / Loans HFI by category Key forecast inputs1 4Q26 1Q27 2Q27 3Q27 National Unemployment Rate 4.38 4.67 4.85 4.95 CRE Price Index 0.58 0.58 0.52 0.35 National Housing Price Index (0.31) 0.28 (2.27) (0.84) Prime Rate 6.73 6.73 6.70 6.65 1 Source: Moody’s “August 2026 U.S. Macroeconomic Outlook” with scenario weighting, with the exception of the National Housing Price Index which also incorporates components of the Mortgage Bankers Association Mortgage Finance Forecast. • Impacts from economic and geopolitical concerns began to moderate in the quarter • Improved economic forecast driven by near-term economic resilience • CRE price index and unemployment forecasts improved in the quarter • Utilized a weighted approach in ACL economic forecast • 1.47% ACL coverage at period end
14 Capital & Liquidity Simple Capital Structure Common Equity Tier 1 Capital 81% Subordinated Notes 10% Tier 2 ACL 9% Total regulatory capital: $2,042 1 Non-GAAP financial measure; See "Use of non-GAAP Financial Measures” and Non-GAAP reconciliations herein. 2 3Q26 calculation is preliminary and subject to change. 3 Includes capacity from internal policy and does not include loans held at the REIT that could be pledged for additional capacity. On-balance sheet liquidity ($mm) $1,890 $1,805 $1,795 $1,810 $1,755 11.9% 11.3% 11.2% 11.0% 10.5% 3Q25 4Q25 1Q26 2Q26 3Q26 On-balance sheet liquidity On-balance sheet liquidity / tangible assets Capital Position 3Q25 2Q26 3Q26 Shareholder’s Equity/Assets 12.2% 11.5% 11.3% TCE/TA1 10.1% 9.49% 9.32% Common Equity Tier 12 11.7% 11.0% 11.0% Tier 1 Risk-Based2 11.7% 11.0% 11.0% Total Risk-Based2 13.6% 12.9% 13.6% AOCI Adjusted Ratios:1,2 Adj. Common Equity Tier 1 10.7% Adj. Total Risk-Based 13.3% 1 • Capital and liquidity levels remain strong and well- above required regulatory thresholds • Capital position strengthened by $125 million subordinated debt issuance in Q3 • ~ 545 thousand shares repurchased totaling $29 million in the quarter • 3Q available sources of liquidity include $1.8 billion on-balance sheet and $8.6 billion in total other sources
15 Securities Portfolio • Securities portfolio is ~9% of Total Assets • Favorable securities portfolio structure – • No Held-to-Maturity (HTM) Securities • ~$60 million in unrealized losses in AOCI, net of tax • Low unrealized losses at only ~3% of Total Equity • Portfolio stats: • 3.93% weighted average yield • ~2.7 years effective duration • Fixed/Floating split of 39%/61% $1.5 Billion U.S. Government Agency Securities 51% Residential MBS 37% Municipal Securities 10% All Other 2% Favorable portfolio mix with 61% floating rate Highlights Securities Portfolio Composition
16 TCE/TA 13.4% 13.2% 11.2% 11.1% 11.0% 10.7% 9.9% 9.7% 9.6% 9.6% 9.5% 9.5% 9.1% 9.0% 9.0% 8.9% 8.3% 7.9% 7.7% Stated CET1 Peer median: 9.6% 15.5% 16.3% 20.4% 13.4% 12.8% 11.8% 17.1% 13.3% 11.9% 12.5% 13.8% 11.0% 11.1% 11.5% 11.2% 11.6% 12.3% 12.9% 11.5% AOCI + HTM SECURITIES MARKS / TOTAL EQUITY (SORTED LOW TO HIGH) 0.7% 1.8% 1.9% 3.4% 3.4% 4.3% 4.8% 5.1% 5.3% 5.6% 7.6% 8.5% 10.1% 10.2% 11.0% 11.5% 12.4% 14.0% Peer median: 5.6% 22.6% Clean balance sheet, limited mark-to-market loss position Peer 4 Peer 4Peer 1 Peer 1 Peer 2 Peer 2 Peer 3 Peer 3 Peer 5 Peer 5 Peer 6 Peer 6 Peer 7 Peer 7 Peer 8 Peer 8 Peer 9 Peer 9 Peer 10 Peer 10 Peer 11 Peer 11 Peer 12 Peer 12 Peer 13 Peer 13 Peer 14 Peer 14 Peer 15 Peer 15 Peer 16 Peer 16 Peer 17 Peer 17 Peer 18 Peer 18 Strong Balance Sheet Supports Capital Flexibility AOCI + HTM Securities Marks / Total Equity (Sorted Low to High) • Investment portfolio remains key differentiator – clean balance sheet supported by minimal unrealized securities losses and no HTM securities portfolio exposure • TCE/TA remains near the peer median while maintaining higher-quality capital profile with minimal embedded securities losses • High-quality capital base and resilient earnings profile provides meaningful capacity to support growth, strategic investments, and future capital deployment Q2 2026 Peer Comparison (all data shown below for peer analysis, including FBK, is as of 6/30/26)
17 Mortgage results • One-time charge for subservicer transitions costs of $719k weighs on segment’s GAAP profitability in Q3 • Mortgage segment adjusted pre-tax income of ~$64 thousand, or GAAP loss of $655 thousand including the one-time item • Revenues impacted by lower sales volumes in the quarter, coupled with slowing customer demand amid the sharp increase in market rates 2.69% 2.97% 2.89% 2.49% 3.54% 3Q25 4Q25 1Q26 2Q26 3Q26 Interest rate lock commitment volume ($mm) Mortgage gain on sale margin $342 $279 $366 $380 $285 $90 $107 $124 $56 $45 $432 $386 $490 $436 $330 3Q25 4Q25 1Q26 2Q26 3Q26 Purchase Refinance Highlights Mortgage Banking Segment ($ thousands) 3Q25 2Q26 3Q26 Total Revenue $ 15,938 $ 14,917 $ 13,335 Provision for loan losses 347 977 443 Noninterest expense 12,887 12,361 13,547 Pre-tax net contribution (loss) after allocations 2,704 1,579 (655) Total Assets 637,830 780,407 861,546 Efficiency Ratio 80.9% 82.9% 101.6% Adj Efficiency Ratio1 80.9% 83.6% 96.5% 1 Non-GAAP financial measure; See "Use of non-GAAP Financial Measures” and Non-GAAP reconciliations herein.
18 Appendix
19 GAAP reconciliations and use of non-GAAP financial measures Adjusted net income and diluted earnings per share
20 GAAP reconciliations and use of non-GAAP financial measures Adjusted net income and diluted earnings per share
21 GAAP reconciliations and use of non-GAAP financial measures Adjusted pre-tax pre-provision net revenue
22 GAAP reconciliations and use of non-GAAP financial measures Adjusted pre-tax pre-provision net revenue
23 GAAP reconciliations and use of non-GAAP financial measures Adjusted tangible net income
24 GAAP reconciliations and use of non-GAAP financial measures Adjusted tangible net income
25 GAAP reconciliations and use of non-GAAP financial measures Adjusted total risk-based capital
26 GAAP reconciliations and use of non-GAAP financial measures Core efficiency ratio (tax-equivalent basis)
27 GAAP reconciliations and use of non-GAAP financial measures Core efficiency ratio (tax-equivalent basis)
28 GAAP reconciliations and use of non-GAAP financial measures Banking segment core efficiency ratio (tax-equivalent basis)
29 GAAP reconciliations and use of non-GAAP financial measures Mortgage segment core efficiency ratio (tax-equivalent basis)
30 GAAP reconciliations and use of non-GAAP financial measures Tangible assets, common equity and related measures
31 GAAP reconciliations and use of non-GAAP financial measures Tangible assets, common equity and related measures
32 GAAP reconciliations and use of non-GAAP financial measures Adjusted return on average tangible common equity and related measures
33 GAAP reconciliations and use of non-GAAP financial measures Adjusted return on average tangible common equity and related measures
34 GAAP reconciliations and use of non-GAAP financial measures Adjusted return on average assets, common equity and related measures
35 GAAP reconciliations and use of non-GAAP financial measures Adjusted return on average assets, common equity and related measures