fbk-20260121

FB Financial Corporation Reports Fourth Quarter 2025 Financial Results

Reports Q4 Diluted EPS of $1.07, Adjusted Diluted EPS* of $1.16

NASHVILLE, TENNESSEE—January 21, 2026—FB Financial Corporation (the “Company”) (NYSE: FBK), parent company of FirstBank, reported net income of $57.0 million, or $1.07 per diluted common share, for the fourth quarter of 2025, compared to $0.43 in the previous quarter and $0.81 in the fourth quarter of last year. Adjusted net income* was $61.5 million, or $1.16 per diluted common share, compared to $1.07 in the previous quarter and $0.85 in the fourth quarter of last year.

For the year ended December 31, 2025, the Company reported net income of $122.6 million, or $2.45 per diluted common share, compared to $116.0 million, or $2.48 per diluted common share, for the year ended December 31, 2024. Adjusted diluted earnings per common share* were $3.99 and $3.40 for the years ended December 31, 2025 and 2024, respectively.

The Company ended the fourth quarter of 2025 with loans held for investment (“HFI”) of $12.38 billion compared to $12.30 billion at the end of the previous quarter and $9.60 billion at the end of the fourth quarter of last year. Deposits were $13.91 billion as of December 31, 2025, compared to $13.81 billion as of September 30, 2025, and $11.21 billion as of December 31, 2024. Net interest margin (“NIM”) was 3.98% for the fourth quarter of 2025, compared to 3.95% in the prior quarter and 3.50% in the fourth quarter of 2024. The Company ended the quarter with book value per common share of $37.64 and tangible book value per common share* of $30.27.

President and Chief Executive Officer, Christopher T. Holmes stated, “We closed the year with solid earnings and a balance sheet that underscores strength, stability, and significant growth potential. We also deployed capital during the quarter through a substantial share repurchase that delivered meaningful earnings accretion, demonstrating our confidence in the Company and our commitment to creating long-term value.”


										Annualized
(dollars in thousands, except share data)	Dec 2025			Sep 2025			Dec 2024			Dec 25 / Sep 25 % Change		Dec 25 / Dec 24 % Change
Balance Sheet Highlights
Investment securities, at fair value	$	1,459,734		$	1,428,401		$	1,538,008		8.70	%	(5.09)	%
Loans held for sale	201,076			167,449			126,760			79.7	%	58.6	%

Loans HFI	12,383,626			12,297,600			9,602,384			2.78	%	29.0	%

Allowance for credit losses on loans HFI	(185,983)			(184,993)			(151,942)			2.12	%	22.4	%
Total assets	16,300,292			16,236,459			13,157,482			1.56	%	23.9	%

Interest-bearing deposits (non-brokered)	10,649,932			10,634,555			8,625,113			0.57	%	23.5	%
Brokered deposits	625,634			487,765			469,089			112.1	%	33.4	%
Noninterest-bearing deposits	2,634,395			2,690,635			2,116,232			(8.29)	%	24.5	%



Total deposits	13,909,961			13,812,955			11,210,434			2.79	%	24.1	%

Borrowings	212,764			213,638			176,789			(1.62)	%	20.3	%
Allowance for credit losses on unfunded commitments	16,196			17,392			6,107			(27.3)	%	165.2	%
Total common shareholders’ equity	1,948,165			1,978,043			1,567,538			(5.99)	%	24.3	%
Book value per common share	$	37.64		$	37.00		$	33.59		6.86	%	12.1	%
Tangible book value per common share*	$	30.27		$	29.83		$	28.27		5.85	%	7.07	%

Total common shareholders’ equity to total assets	12.0		%	12.2		%	11.9		%
Tangible common equity to tangible assets*	9.84		%	10.1		%	10.2		%

*Non-GAAP financial measure; A reconciliation of non-GAAP measures to the most directly comparable GAAP measure is included in the Company’s Fourth Quarter 2025 Financial Supplement.

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FB Financial Corporation

Fourth Quarter 2025 Results

Page 2


	Three Months Ended
(dollars in thousands, except share data)	Dec 2025			Sep 2025			Dec 2024
Statement of Income Highlights
Net interest income	$	149,804		$	147,240		$	108,381
NIM	3.98		%	3.95		%	3.50		%



Noninterest income	$	28,795		$	26,635		$	21,997


Loss on sales or write-downs of premises and equipment, other real estate owned and other assets, net	$	(131)		$	(646)		$	(2,162)
Cash life insurance benefit	$	1,148		$	—		$	—
Total revenue	$	178,599		$	173,875		$	130,378
Noninterest expense	$	107,548		$	109,856		$	73,174


Early retirement and severance costs	$	1,395		$	—		$	463
Loss on lease terminations and other branch closure costs	$	12		$	270		$	—

Certain nonrecurring charitable contributions	$	1,130		$	—		$	—
Merger and integration costs	$	4,611		$	16,057		$	—
Efficiency ratio	60.2		%	63.2		%	56.1		%
Adjusted efficiency ratio*	56.3		%	53.3		%	54.6		%





Pre-tax, pre-provision net revenue	$	71,051		$	64,019		$	57,204
Adjusted pre-tax, pre-provision net revenue*	$	77,118		$	80,980		$	59,829
Provisions for credit losses	$	1,232		$	34,417		$	7,084
Net charge-offs ratio	0.05		%	0.05		%	0.47		%
Net income applicable to FB Financial Corporation	$	56,977		$	23,375		$	37,886
Diluted earnings per common share	$	1.07		$	0.43		$	0.81
Effective tax rate	18.4		%	21.0		%	24.4		%
Adjusted net income*	$	61,494		$	57,606		$	39,835
Adjusted diluted earnings per common share*	$	1.16		$	1.07		$	0.85


Weighted average number of shares outstanding - fully diluted	53,074,753			53,957,062			46,862,935

Returns on average:

Return on average total assets (“ROAA”)	1.40		%	0.58		%	1.14		%
Adjusted*	1.51		%	1.43		%	1.20		%
Return on average shareholders’ equity	11.6		%	4.69		%	9.63		%

Return on average tangible common equity (“ROATCE”)*	14.4		%	5.82		%	11.5		%
Adjusted*	15.9		%	14.7		%	12.2		%




*Non-GAAP financial measure; A reconciliation of non-GAAP measures to the most directly comparable GAAP measure is included in the Company’s Fourth Quarter 2025 Financial Supplement.

Balance Sheet and Net Interest Margin

The Company reported loans HFI of $12.38 billion at the end of the fourth quarter of 2025, compared to $12.30 billion at the end of the prior quarter. Net growth in loans was attributable to increases of $34.2 million in commercial real estate loans, $28.4 million in residential real estate loans and $26.8 million in commercial and industrial loans offset by a $6.9 million decline in construction loans.

The Company reported total deposits of $13.91 billion at the end of the fourth quarter compared to $13.81 billion at the end of the third quarter. Total cost of deposits decreased to 2.40% during the fourth quarter compared to 2.53% in the third quarter of 2025. Lower costs were driven by the reduction in the federal funds rate, which decreased the expense of the Company's indexed deposits and supported lower costs across other interest-bearing deposits. Noninterest-bearing deposits were $2.63 billion at the end of the quarter compared to $2.69 billion at the end of the third quarter of 2025.

The Company reported net interest income on a tax-equivalent basis of $150.6 million for the fourth quarter of 2025, up from $148.1 million in the prior quarter. NIM increased to 3.98% for the fourth quarter of 2025 from 3.95% for the previous quarter, driven primarily by lower funding costs, including a 13 basis point reduction in deposit costs. This was partially offset by an 11 basis point decrease in the yield on loans HFI. Net accretion from purchase accounting adjustments impacted margin by 17 basis points in the fourth quarter of 2025.

The contractual yield on loans HFI decreased to 6.34% from 6.45% in the third quarter of 2025 and the cost of interest-bearing deposits decreased to 2.99% from 3.16% in the previous quarter.

Holmes continued, “Our balance sheet delivered modest loan growth in the fourth quarter as several large credits paid down late in the year and others in our pipeline shifted into 2026. For deposits, we remain focused on growing core banking deposits while intentionally reducing non-core funds, building a more durable and valuable funding base. Net interest income on a tax-equivalent

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FB Financial Corporation

Fourth Quarter 2025 Results

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basis was a standout, surpassing $150 million for the quarter. These results reflect our disciplined approach and unwavering focus on building long-term value through strong fundamentals.”

Noninterest Income

Adjusted noninterest income* was $27.7 million for the fourth quarter of 2025, compared to $27.3 million and $24.2 million for the prior quarter and fourth quarter of 2024, respectively.

Mortgage banking income was $13.5 million in both the fourth quarter of 2025 and the prior quarter compared to $10.6 million in the fourth quarter of 2024.

Noninterest Expense

Adjusted noninterest expense* during the fourth quarter of 2025 was $100.4 million compared to $93.5 million for the prior quarter and $72.7 million for the fourth quarter of 2024. The increase reflects higher performance-based compensation resulting from exceeding performance targets. During the fourth quarter of 2025, the Company’s adjusted efficiency ratio*1was 56.3%, compared to 53.3% in the previous quarter and 54.6% in the fourth quarter of 2024.

Chief Financial Officer Michael Mettee commented, “Adjusted noninterest expense* came in higher than the prior quarter, driven by performance-related accruals, while adjusted operating expenses tracked as expected. In managing expenses and capital investments in our core business, our goal is to continuously create additional operating leverage. We are focused on maximizing value from every dollar spent and positioning the Company for sustained revenue growth.”

Credit Quality

In the fourth quarter, the Company recorded provision expense of $2.4 million related to loans HFI and a provision reversal of $1.2 million associated with unfunded loan commitments. At the end of the fourth quarter of 2025, the Company had an allowance for credit losses on loans HFI of $186.0 million, representing 1.50% of loans HFI compared to $185.0 million, or 1.50% of loans HFI, at the end of the prior quarter.

The Company had net charge-offs of $1.4 million in the fourth quarter of 2025, representing annualized net charge-offs of 0.05% of average loans HFI, compared to 0.05% in the prior quarter and 0.47% in the fourth quarter of 2024. For the year ended December 31, 2025, the Company experienced net charge-offs of $6.7 million, or 0.06% of average loans HFI, compared to 0.14% for the year ended December 31, 2024.

The Company’s nonperforming loans HFI as a percentage of total loans HFI increased to 0.97% as of the end of the fourth quarter of 2025, compared to 0.94% in the prior quarter and 0.87% in the fourth quarter of 2024. Nonperforming assets as a percentage of total assets increased to 0.97% as of the end of the fourth quarter of 2025, compared to 0.89% at the end of the prior quarter and 0.93% as of the end of the fourth quarter of 2024.

Holmes commented, “Charge-offs held steady at a very low level through the quarter and nonperforming assets were also relatively stable. Our allowance remains healthy, and our overall credit outlook continues to be stable with the Company well-positioned moving into 2026.”

Capital

The Company maintained its strong capital position in the fourth quarter, resulting in a preliminary total risk-based capital ratio of 13.2%, preliminary common equity tier 1 ratio of 11.4% and tangible common equity to tangible assets ratio* of 9.84%. The Company repurchased 1,717,948 shares during the quarter.

Holmes continued, “We repurchased approximately 3% of our outstanding common shares during the quarter while maintaining a strong tangible common equity to tangible assets ratio* of almost 10%. Our focus remains on optimizing capital utilization, and we will maintain conservative levels of capital as we seek the right opportunities to drive long-term value.”

Summary

Holmes finalized, “We closed the year, with the Company celebrating successes of 2025, but even more excited about 2026. I’m incredibly proud of the team for executing on a strategic combination, driving a successful share repurchase, restructuring the balance sheet, and attracting key talent. These deliberate actions weren’t just about finishing strong; they were about building a foundation for sustainable growth. We enter 2026 with momentum, flexibility and confidence, ready to capitalize on opportunities and deliver long-term value for our shareholders, clients and communities.”

*Non-GAAP financial measure;1A reconciliation of non-GAAP measures to the most directly comparable GAAP measure is included in the Company’s Fourth Quarter 2025 Financial Supplement.

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FB Financial Corporation

Fourth Quarter 2025 Results

Page 4

WEBCAST AND CONFERENCE CALL INFORMATION

FB Financial Corporation will host a conference call to discuss the Company’s financial results on January 22, 2026, at 8:00 a.m. (Central Time). To listen to the call, participants should dial 1-877-883-0383 (confirmation code 7530998) approximately 10 minutes prior to the call. A telephonic replay will be available approximately two hours after the call through January 29, 2026, by dialing 1-855-669-9658 and entering confirmation code 8508111.

A live online broadcast of the Company’s quarterly conference call will be available online at https://event.choruscall.com/mediaframe/webcast.html?webcastid=ofk8Kn9Q. 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, and Georgia. FB Financial Corporation has approximately $16.3 billion in total assets and operates 90 full-service bank branches across its footprint.


MEDIA CONTACT:						FINANCIAL CONTACT:

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

SUPPLEMENTAL FINANCIAL INFORMATION AND EARNINGS PRESENTATION

Investors are encouraged to review this Earnings Release in conjunction with the Fourth Quarter 2025 Financial Supplement and Earnings Presentation posted on the Company’s website, which can be found at https://investors.firstbankonline.com. This Earnings Release, the Fourth Quarter 2025 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 January 21, 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. These forward-looking statements include, without limitation, statements regarding the Company’s future plans, results, strategies, and expectations, including expectations around changing economic markets. 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, and mortgage operations, (3) increased competition for deposits, (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, or the impact of interest rates on the value of our investment securities portfolio, (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 mergers 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 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, (9) changes in state and federal legislation, regulations or policies applicable to banks and other financial service providers, including legislative developments,

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FB Financial Corporation

Fourth Quarter 2025 Results

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(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, (13) concentrations of credit or deposit exposure, (14) the impact of natural disasters, pandemics, acts of war or 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, and/or (16) 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, 2024, 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 adjusted revenue, consolidated adjusted and segment noninterest expense and consolidated adjusted noninterest income, consolidated 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 its 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 non-adjusted gains and charges 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.

A reconciliation of these measures to the most directly comparable GAAP financial measures is included in the Company’s Fourth Quarter 2025 Financial Supplement, which is available at https://investors.firstbankonline.com.

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FB Financial Corporation

Fourth Quarter 2025 Results

Page 6


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

	As of or for the Three Months Ended
	Dec 2025			Sep 2025			Dec 2024
Selected Balance Sheet Data
Cash and cash equivalents	$	1,155,895		$	1,280,033		$	1,042,488
Investment securities, at fair value	1,459,734			1,428,401			1,538,008
Loans held for sale	201,076			167,449			126,760
Loans HFI	12,383,626			12,297,600			9,602,384
Allowance for credit losses on loans HFI	(185,983)			(184,993)			(151,942)


Total assets	16,300,292			16,236,459			13,157,482
Interest-bearing deposits (non-brokered)	10,649,932			10,634,555			8,625,113
Brokered deposits	625,634			487,765			469,089
Noninterest-bearing deposits	2,634,395			2,690,635			2,116,232
Total deposits	13,909,961			13,812,955			11,210,434
Borrowings	212,764			213,638			176,789
Allowance for credit losses on unfunded commitments	16,196			17,392			6,107
Total common shareholders’ equity	1,948,165			1,978,043			1,567,538
Selected Statement of Income Data
Total interest income	$	235,238		$	236,898		$	186,369
Total interest expense	85,434			89,658			77,988
Net interest income	149,804			147,240			108,381
Total noninterest income	28,795			26,635			21,997
Total noninterest expense	107,548			109,856			73,174
Earnings before income taxes and provisions for credit losses	71,051			64,019			57,204
Provisions for credit losses	1,232			34,417			7,084
Income tax expense	12,834			6,227			12,226
Net income applicable to noncontrolling interest	8			—			8
Net income applicable to FB Financial Corporation	$	56,977		$	23,375		$	37,886
Net interest income (tax-equivalent basis)	$	150,642		$	148,088		$	109,004
Adjusted net income*	$	61,494		$	57,606		$	39,835
Adjusted pre-tax, pre-provision net revenue*	$	77,118		$	80,980		$	59,829
Per Common Share
Diluted net income	$	1.07		$	0.43		$	0.81
Adjusted diluted net income*	1.16			1.07			0.85

Book value	37.64			37.00			33.59
Tangible book value*	30.27			29.83			28.27

Weighted average number of shares outstanding - fully diluted	53,074,753			53,957,062			46,862,935
Period-end number of shares	51,752,401			53,456,522			46,663,120
Selected Ratios
Return on average:
Assets	1.40		%	0.58		%	1.14		%
Shareholders’ equity	11.6		%	4.69		%	9.63		%
Tangible common equity*	14.4		%	5.82		%	11.5		%

Efficiency ratio	60.2		%	63.2		%	56.1		%
Adjusted efficiency ratio (tax-equivalent basis)*	56.3		%	53.3		%	54.6		%
Loans HFI to deposit ratio	89.0		%	89.0		%	85.7		%

Noninterest-bearing deposits to total deposits	18.9		%	19.5		%	18.9		%
Net interest margin (tax-equivalent basis)	3.98		%	3.95		%	3.50		%
Yield on interest-earning assets	6.23		%	6.35		%	6.01		%
Cost of interest-bearing liabilities	3.02		%	3.21		%	3.40		%
Cost of total deposits	2.40		%	2.53		%	2.70		%

Credit Quality Ratios
Allowance for credit losses on loans HFI as a percentage of loans HFI	1.50		%	1.50		%	1.58		%

Annualized net charge-offs as a percentage of average loans HFI	0.05		%	0.05		%	0.47		%
Nonperforming loans HFI as a percentage of loans HFI	0.97		%	0.94		%	0.87		%
Nonperforming assets as a percentage of total assets	0.97		%	0.89		%	0.93		%
Preliminary Capital Ratios (consolidated)
Total common shareholders’ equity to assets	12.0		%	12.2		%	11.9		%
Tangible common equity to tangible assets*	9.84		%	10.1		%	10.2		%
Tier 1 leverage	10.3		%	10.6		%	11.3		%
Tier 1 risk-based capital	11.4		%	11.7		%	13.1		%
Total risk-based capital	13.2		%	13.6		%	15.2		%
Common equity Tier 1	11.4		%	11.7		%	12.8		%

*Non-GAAP financial measure; A reconciliation of non-GAAP measures to the most directly comparable GAAP measure is included in the Company’s Fourth Quarter 2025 Financial Supplement.

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Fourth Quarter 2025

Financial Supplement

TABLE OF CONTENTS


			Page

Financial Summary and Key Metrics			4

Consolidated Statements of Income			5

Consolidated Balance Sheets			7

Average Balance and Interest Yield/Rate Analysis			8



Investments and Other Sources of Liquidity			11

Loan Portfolio			12

Asset Quality			13

Selected Deposit Data			14

Preliminary Capital Ratios			15

Segment Data			16

Non-GAAP Reconciliations			17

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 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, 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.


Financial Summary and Key Metrics
(Unaudited)
(Dollars in Thousands, Except Share Data)

	As of or for the Three Months Ended
	Dec 2025			Sep 2025			Jun 2025			Mar 2025			Dec 2024
Selected Balance Sheet Data
Cash and cash equivalents	$	1,155,895		$	1,280,033		$	1,165,729		$	794,706		$	1,042,488
Investment securities, at fair value	1,459,734			1,428,401			1,337,565			1,580,720			1,538,008
Loans held for sale	201,076			167,449			144,212			172,770			126,760
Loans HFI	12,383,626			12,297,600			9,874,282			9,771,536			9,602,384
Allowance for credit losses on loans HFI	(185,983)			(184,993)			(148,948)			(150,531)			(151,942)


Total assets	16,300,292			16,236,459			13,354,238			13,136,449			13,157,482
Interest-bearing deposits (non-brokered)	10,649,932			10,634,555			8,692,848			8,623,636			8,625,113
Brokered deposits	625,634			487,765			518,719			414,428			469,089
Noninterest-bearing deposits	2,634,395			2,690,635			2,191,903			2,163,934			2,116,232
Total deposits	13,909,961			13,812,955			11,403,470			11,201,998			11,210,434
Borrowings	212,764			213,638			164,485			168,944			176,789
Allowance for credit losses on unfunded commitments	16,196			17,392			12,932			6,493			6,107
Total common shareholders' equity	1,948,165			1,978,043			1,611,130			1,601,962			1,567,538
Selected Statement of Income Data
Total interest income	$	235,238		$	236,898		$	182,084		$	179,706		$	186,369
Total interest expense	85,434			89,658			70,669			72,065			77,988
Net interest income	149,804			147,240			111,415			107,641			108,381
Total noninterest income (loss)	28,795			26,635			(34,552)			23,032			21,997
Total noninterest expense	107,548			109,856			81,261			79,549			73,174
Earnings (losses) before income taxes and provisions for credit losses	71,051			64,019			(4,398)			51,124			57,204
Provisions for credit losses	1,232			34,417			5,337			2,292			7,084
Income tax expense (benefit)	12,834			6,227			(12,652)			9,471			12,226
Net income applicable to noncontrolling interest	8			—			8			—			8
Net income applicable to FB Financial Corporation	$	56,977		$	23,375		$	2,909		$	39,361		$	37,886
Net interest income (tax-equivalent basis)	$	150,642		$	148,088		$	112,236		$	108,427		$	109,004
Adjusted net income*	$	61,494		$	57,606		$	40,821		$	40,108		$	39,835
Adjusted pre-tax, pre-provision net revenue*	$	77,118		$	80,980		$	58,649		$	52,134		$	59,829
Per Common Share
Diluted net income	$	1.07		$	0.43		$	0.06		$	0.84		$	0.81
Adjusted diluted net income*	1.16			1.07			0.88			0.85			0.85

Book value	37.64			37.00			35.17			34.44			33.59
Tangible book value*	30.27			29.83			29.78			29.12			28.27

Weighted average number of shares outstanding - fully diluted	53,074,753			53,957,062			46,179,090			47,024,211			46,862,935
Period-end number of shares	51,752,401			53,456,522			45,807,689			46,514,547			46,663,120
Selected Ratios
Return on average:
Assets	1.40		%	0.58		%	0.09		%	1.21		%	1.14		%
Shareholders’ equity	11.6		%	4.69		%	0.74		%	10.1		%	9.63		%
Tangible common equity*	14.4		%	5.82		%	0.87		%	11.9		%	11.5		%

Efficiency ratio	60.2		%	63.2		%	105.7		%	60.9		%	56.1		%
Adjusted efficiency ratio (tax-equivalent basis)*	56.3		%	53.3		%	56.9		%	59.9		%	54.6		%
Loans HFI to deposit ratio	89.0		%	89.0		%	86.6		%	87.2		%	85.7		%

Noninterest-bearing deposits to total deposits	18.9		%	19.5		%	19.2		%	19.3		%	18.9		%
Net interest margin (NIM) (tax-equivalent basis)	3.98		%	3.95		%	3.68		%	3.55		%	3.50		%
Yield on interest-earning assets	6.23		%	6.35		%	5.99		%	5.91		%	6.01		%
Cost of interest-bearing liabilities	3.02		%	3.21		%	3.13		%	3.16		%	3.40		%
Cost of total deposits	2.40		%	2.53		%	2.48		%	2.54		%	2.70		%

Credit Quality Ratios
Allowance for credit losses on loans HFI as a percentage of loans HFI	1.50		%	1.50		%	1.51		%	1.54		%	1.58		%

Annualized net charge-offs as a percentage of average loans HFI	0.05		%	0.05		%	0.02		%	0.14		%	0.47		%
Nonperforming loans HFI as a percentage of loans HFI	0.97		%	0.94		%	0.97		%	0.79		%	0.87		%
Nonperforming assets as a percentage of total assets	0.97		%	0.89		%	0.92		%	0.84		%	0.93		%
Preliminary Capital Ratios (consolidated)
Total common shareholders’ equity to assets	12.0		%	12.2		%	12.1		%	12.2		%	11.9		%
Tangible common equity to tangible assets*	9.84		%	10.1		%	10.4		%	10.5		%	10.2		%
Tier 1 leverage	10.3		%	10.6		%	11.3		%	11.4		%	11.3		%
Tier 1 risk-based capital	11.4		%	11.7		%	12.6		%	13.1		%	13.1		%
Total risk-based capital	13.2		%	13.6		%	14.7		%	15.2		%	15.2		%

Common equity Tier 1	11.4		%	11.7		%	12.3		%	12.8		%	12.8		%

*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 Share Data)
													Dec 2025		Dec 2025
													vs.		vs.
	Three Months Ended										Sep 2025	Dec 2024
	Dec 2025		Sep 2025		Jun 2025		Mar 2025		Dec 2024				Percent variance		Percent variance
Interest income:
Interest and fees on loans	$	209,734	$	209,307	$	159,697	$	153,185	$	156,792			0.20	%	33.8	%
Interest on investment securities
Taxable	14,380		14,395		14,661		14,471		15,043				(0.10)	%	(4.41)	%
Tax-exempt	1,058		1,058		1,036		1,033		1,035				—	%	2.22	%
Other	10,066		12,138		6,690		11,017		13,499				(17.1)	%	(25.4)	%
Total interest income	235,238		236,898		182,084		179,706		186,369				(0.70)	%	26.2	%
Interest expense:
Deposits	83,813		86,577		68,568		70,249		76,131				(3.19)	%	10.1	%
Borrowings	1,621		3,081		2,101		1,816		1,857				(47.4)	%	(12.7)	%
Total interest expense	85,434		89,658		70,669		72,065		77,988				(4.71)	%	9.55	%
Net interest income	149,804		147,240		111,415		107,641		108,381				1.74	%	38.2	%
Provision for (reversal of) credit losses on loans HFI	2,428		29,957		(1,102)		1,906		7,019				(91.9)	%	(65.4)	%
(Reversal of) provision for credit losses on unfunded commitments	(1,196)		4,460		6,439		386		65				(126.8)	%	(1,940.0)	%
Net interest income after provisions for credit losses	148,572		112,823		106,078		105,349		101,297				31.7	%	46.7	%
Noninterest income:
Mortgage banking income	13,505		13,484		13,029		12,426		10,586				0.16	%	27.6	%
Investment services and trust income	4,473		4,227		3,922		3,711		3,853				5.82	%	16.1	%
Service charges on deposit accounts	4,184		4,049		3,392		3,479		3,548				3.33	%	17.9	%
ATM and interchange fees	3,146		3,388		2,878		2,677		2,867				(7.14)	%	9.73	%
Gain (loss) from securities, net	64		12		(60,549)		16		—				433.3	%	100.0	%
(Loss) gain on sales or write-downs of premises and equipment, other real estate owned and other assets, net	(131)		(646)		236		(625)		(2,162)				(79.7)	%	(93.9)	%

Other income	3,554		2,121		2,540		1,348		3,305				67.6	%	7.53	%
Total noninterest income (loss)	28,795		26,635		(34,552)		23,032		21,997				8.11	%	30.9	%
Total revenue	178,599		173,875		76,863		130,673		130,378				2.72	%	37.0	%
Noninterest expenses:
Salaries, commissions and employee benefits	63,529		59,210		46,631		48,351		45,432				7.29	%	39.8	%
Occupancy and equipment expense	7,239		7,539		6,710		6,597		6,668				(3.98)	%	8.56	%
Merger and integration costs	4,611		16,057		2,734		401		—				(71.3)	%	100.0	%
Advertising	2,464		2,453		2,178		2,487		2,030				0.45	%	21.4	%
Data processing	2,809		2,457		2,161		2,313		2,462				14.3	%	14.1	%
Amortization of core deposits and other intangibles	1,932		2,079		631		656		687				(7.07)	%	181.2	%
Legal and professional fees	2,503		1,227		2,426		1,992		1,881				104.0	%	33.1	%



Other expense	22,461		18,834		17,790		16,752		14,014				19.3	%	60.3	%
Total noninterest expense	107,548		109,856		81,261		79,549		73,174				(2.10)	%	47.0	%
Income (loss) before income taxes	69,819		29,602		(9,735)		48,832		50,120				135.9	%	39.3	%
Income tax expense (benefit)	12,834		6,227		(12,652)		9,471		12,226				106.1	%	4.97	%
Net income applicable to FB Financial Corporation and noncontrolling interest	56,985		23,375		2,917		39,361		37,894				143.8	%	50.4	%
Net income applicable to noncontrolling interest	8		—		8		—		8				100.0	%	—	%

Net income applicable to FB Financial Corporation	$	56,977	$	23,375	$	2,909	$	39,361	$	37,886			143.8	%	50.4	%
Weighted average common shares outstanding:
Basic	52,621,950		53,627,997		45,946,428		46,674,698		46,662,772				(1.88)	%	12.8	%
Fully diluted	53,074,753		53,957,062		46,179,090		47,024,211		46,862,935				(1.64)	%	13.3	%
Earnings per common share:
Basic	$	1.08	$	0.44	$	0.06	$	0.84	$	0.81			145.5	%	33.3	%
Fully diluted	1.07		0.43		0.06		0.84		0.81				148.8	%	32.1	%
Fully diluted - adjusted*	1.16		1.07		0.88		0.85		0.85				8.41	%	36.5	%

*Non-GAAP financial measure; See “Use of non-GAAP Financial Measures”and Non-GAAP reconciliations herein.


FB Financial Corporation						5


Consolidated Statements of Income
(Unaudited)
(Dollars in Thousands, Except Share Data)

					Dec 2025
					vs.
	Year Ended				Dec 2024
	Dec 2025		Dec 2024		Percent variance
Interest income:
Interest and fees on loans	$	731,923	$	626,402	16.8	%
Interest on investment securities
Taxable	57,907		50,057		15.7	%
Tax-exempt	4,185		4,749		(11.9)	%
Other	39,911		44,330		(9.97)	%
Total interest income	833,926		725,538		14.9	%
Interest expense:
Deposits	309,207		296,345		4.34	%
Borrowings	8,619		12,690		(32.1)	%
Total interest expense	317,826		309,035		2.84	%
Net interest income	516,100		416,503		23.9	%
Provision for credit losses on loans HFI	33,189		14,667		126.3	%
Provision for (reversal of) credit losses on unfunded commitments	10,089		(2,663)		(478.9)	%
Net interest income after provisions for credit losses	472,822		404,499		16.9	%
Noninterest income:
Mortgage banking income	52,444		46,634		12.5	%
Investment services and trust income	16,333		14,191		15.1	%
Service charges on deposit accounts	15,104		13,234		14.1	%
ATM and interchange fees	12,089		11,465		5.44	%

Loss from securities, net	(60,457)		(56,378)		7.24	%
Loss on sales or write-downs of premises and equipment, other real estate owned and other assets, net	(1,166)		(2,167)		(46.2)	%

Other income	9,563		12,091		(20.9)	%
Total noninterest income	43,910		39,070		12.4	%
Total revenue	560,010		455,573		22.9	%
Noninterest expenses:
Salaries, commissions and employee benefits	217,721		183,813		18.4	%
Occupancy and equipment expense	28,085		26,250		6.99	%
Merger and integration costs	23,803		—		100.0	%
Data processing	9,740		9,642		1.02	%
Advertising	9,582		7,007		36.7	%
Legal and professional fees	8,148		7,679		6.11	%
Amortization of core deposit and other intangibles	5,298		2,947		79.8	%

Other expense	75,837		59,561		27.3	%
Total noninterest expense	378,214		296,899		27.4	%
Income before income taxes	138,518		146,670		(5.56)	%
Income tax expense	15,880		30,619		(48.1)	%
Net income applicable to noncontrolling interest and FB Financial Corporation	122,638		116,051		5.68	%
Net income applicable to noncontrolling interests	16		16		—	%

Net income applicable to FB Financial Corporation	$	122,622	$	116,035	5.68	%
Weighted average common shares outstanding:
Basic	49,744,804		46,737,217		6.44	%
Fully diluted	50,070,121		46,872,625		6.82	%
Earnings per common share:
Basic	$	2.47	$	2.48	(0.40)	%
Fully diluted	2.45		2.48		(1.21)	%
Fully diluted - adjusted*	3.99		3.40		17.4	%

*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
													Dec 2025		Dec 2025
													vs.		vs.
	As of										Sep 2025	Dec 2024
	Dec 2025		Sep 2025		Jun 2025		Mar 2025		Dec 2024				Percent variance		Percent variance
ASSETS
Cash and due from banks	$	196,213	$	154,286	$	143,317	$	149,607	$	120,153			107.8	%	63.3	%
Federal funds sold and reverse repurchase agreements	213,391		283,451		352,124		109,982		125,825				(98.1)	%	69.6	%
Interest-bearing deposits in financial institutions	746,291		842,296		670,288		535,117		796,510				(45.2)	%	(6.30)	%
Cash and cash equivalents	1,155,895		1,280,033		1,165,729		794,706		1,042,488				(38.5)	%	10.9	%
Investments:
Available-for-sale debt securities, at fair value	1,459,579		1,426,951		1,337,565		1,580,720		1,538,008				9.07	%	(5.10)	%
Equity securities, at fair value	155		1,450		—		—		—				(354.3)	%	(100.0)	%
Restricted equity securities, at cost	79,046		36,231		33,626		32,234		32,749				468.8	%	141.4	%
Loans held for sale	201,076		167,449		144,212		172,770		126,760				79.7	%	58.6	%
Loans held for investment	12,383,626		12,297,600		9,874,282		9,771,536		9,602,384				2.78	%	29.0	%
Less: allowance for credit losses on loans HFI	185,983		184,993		148,948		150,531		151,942				2.12	%	22.4	%
Net loans held for investment	12,197,643		12,112,607		9,725,334		9,621,005		9,450,442				2.79	%	29.1	%
Premises and equipment, net	182,370		183,595		147,243		146,272		148,899				(2.65)	%	22.5	%
Other real estate owned, net	6,009		4,466		2,998		3,326		4,409				137.1	%	36.3	%
Operating lease right-of-use assets	49,249		51,035		47,764		47,381		47,963				(13.9)	%	2.68	%
Interest receivable	58,565		60,755		50,386		51,268		49,611				(14.3)	%	18.0	%
Mortgage servicing rights, at fair value	148,795		149,840		153,464		156,379		162,038				(2.77)	%	(8.17)	%
Goodwill	350,353		350,353		242,561		242,561		242,561				—	%	44.4	%
Core deposit and other intangibles, net	31,284		33,216		4,475		5,106		5,762				(23.1)	%	442.9	%
Bank-owned life insurance	111,865		113,374		72,686		72,400		72,504				(5.28)	%	54.3	%
Other assets	268,408		265,104		226,195		210,321		233,288				4.94	%	15.1	%
Total assets	$	16,300,292	$	16,236,459	$	13,354,238	$	13,136,449	$	13,157,482			1.56	%	23.9	%
LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities:
Deposits
Noninterest-bearing	$	2,634,395	$	2,690,635	$	2,191,903	$	2,163,934	$	2,116,232			(8.29)	%	24.5	%
Interest-bearing checking	2,651,369		2,458,625		2,325,551		2,776,958		2,906,425				31.1	%	(8.78)	%
Money market and savings	5,969,640		5,968,094		4,645,552		4,482,908		4,338,483				0.10	%	37.6	%
Customer time deposits	2,028,923		2,206,790		1,721,745		1,363,770		1,380,205				(32.0)	%	47.0	%
Brokered and internet time deposits	625,634		488,811		518,719		414,428		469,089				111.1	%	33.4	%
Total deposits	13,909,961		13,812,955		11,403,470		11,201,998		11,210,434				2.79	%	24.1	%
Borrowings	212,764		213,638		164,485		168,944		176,789				(1.62)	%	20.3	%
Operating lease liabilities	60,556		62,664		59,289		59,174		60,024				(13.3)	%	0.89	%
Accrued expenses and other liabilities	168,753		169,066		115,771		104,278		142,604				(0.73)	%	18.3	%
Total liabilities	14,352,034		14,258,323		11,743,015		11,534,394		11,589,851				2.61	%	23.8	%
Shareholders’ equity:
Common stock, $1 par value	51,752		53,457		45,808		46,515		46,663				(12.7)	%	10.9	%
Additional paid-in capital	1,082,344		1,163,164		822,548		854,715		860,266				(27.6)	%	25.8	%
Retained earnings	846,620		799,900		786,785		792,685		762,293				23.2	%	11.1	%
Accumulated other comprehensive loss, net	(32,551)		(38,478)		(44,011)		(91,953)		(101,684)				(61.1)	%	(68.0)	%
Total common shareholders’ equity	1,948,165		1,978,043		1,611,130		1,601,962		1,567,538				(5.99)	%	24.3	%
Noncontrolling interest	93		93		93		93		93				—	%	—	%
Total equity	1,948,258		1,978,136		1,611,223		1,602,055		1,567,631				(5.99)	%	24.3	%
Total liabilities and shareholders’ equity	$	16,300,292	$	16,236,459	$	13,354,238	$	13,136,449	$	13,157,482			1.56	%	23.9	%


FB Financial Corporation						7


Average Balance and Interest Yield/Rate Analysis

(Unaudited)
(Dollars in Thousands)

	Three Months Ended
	December 31, 2025						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)	$	12,368,964	$	207,140	6.64	%	$	12,189,401	$	207,423	6.75	%
Mortgage loans held for sale	169,422		3,059		7.16	%	162,205		2,359		5.77	%

Investment securities:
Taxable	1,346,232		14,380		4.24	%	1,304,894		14,395		4.38	%
Tax-exempt(b)	169,355		1,431		3.35	%	169,523		1,431		3.35	%
Total investment securities(b)	1,515,587		15,811		4.14	%	1,474,417		15,826		4.26	%
Federal funds sold and reverse repurchase agreements	238,393		2,426		4.04	%	331,029		3,966		4.75	%
Interest-bearing deposits with other financial institutions	693,612		6,800		3.89	%	671,634		7,340		4.34	%
Restricted equity securities, at cost	49,029		840		6.80	%	36,907		832		8.94	%
Total interest-earning assets(b)	15,035,007		236,076		6.23	%	14,865,593		237,746		6.35	%
Noninterest-earning assets:
Cash and due from banks	137,536						139,226
Allowance for credit losses on loans HFI	(185,526)						(181,973)
Other assets(c)(d)	1,164,178						1,184,942
Total noninterest-earning assets	1,116,188						1,142,195
Total assets	$	16,151,195					$	16,007,788
Interest-bearing liabilities:
Interest-bearing deposits:
Interest-bearing checking	$	2,379,679	$	11,538	1.92	%	$	2,331,589	$	12,383	2.11	%
Money market	5,609,158		46,018		3.25	%	5,561,538		49,019		3.50	%
Savings deposits	417,110		419		0.40	%	406,787		248		0.24	%
Customer time deposits	2,088,577		19,561		3.72	%	1,997,905		18,965		3.77	%
Brokered and internet time deposits	608,136		6,277		4.10	%	560,127		5,962		4.22	%
Time deposits	2,696,713		25,838		3.80	%	2,558,032		24,927		3.87	%
Total interest-bearing deposits	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	12,473		31		0.99	%	13,144		31		0.94	%
Federal Home Loan Bank advances	—		—		—	%	15,217		172		4.48	%
Subordinated debt	83,458		1,491		7.09	%	180,805		2,872		6.30	%
Other borrowings	9,296		99		4.23	%	1,168		6		2.04	%
Total other interest-bearing liabilities	105,227		1,621		6.11	%	210,334		3,081		5.81	%
Total interest-bearing liabilities	11,207,887		85,434		3.02	%	11,068,280		89,658		3.21	%
Noninterest-bearing liabilities:
Demand deposits	2,733,207						2,724,898
Other liabilities(d)	253,375						236,732
Total noninterest-bearing liabilities	2,986,582						2,961,630
Total liabilities	14,194,469						14,029,910
Total common shareholders’ equity	1,956,633						1,977,785
Noncontrolling interest	93						93
Total equity	1,956,726						1,977,878
Total liabilities and shareholders’ equity	$	16,151,195					$	16,007,788
Net interest income(b)			$	150,642					$	148,088
Interest rate spread(b)					3.21	%					3.14	%
Net interest margin(b)(e)					3.98	%					3.95	%
Cost of total deposits					2.40	%					2.53	%
Average interest-earning assets to average interest-bearing liabilities					134.1	%					134.3	%
Tax-equivalent adjustment			$	838					$	848
Loans HFI yield components:
Contractual interest rate(b)			$	197,683	6.34	%			$	198,320	6.45	%
Origination and other loan fee income			2,633		0.08	%			1,575		0.05	%
Accretion on purchased loans			6,406		0.21	%			7,025		0.23	%
Nonaccrual interest			418		0.01	%			503		0.02	%

Total loans HFI yield			$	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 marginal tax rate of 26.06%.

(c) Includes average net unrealized losses on investment securities available for sale of $51,415 and $64,781 for the three months ended 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 $23,208 and 21,645 for the three months ended 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						8


Average Balance and Interest Yield/Rate Analysis (continued)

(Unaudited)
(Dollars in Thousands)

	Three Months Ended
	June 30, 2025						March 31, 2025						December 31, 2024
	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)	$	9,840,932	$	157,964	6.44	%	$	9,621,057	$	152,174	6.41	%	$	9,522,996	$	155,897	6.51	%
Mortgage loans held for sale	126,072		2,189		6.96	%	93,944		1,433		6.19	%	71,569		1,153		6.41	%

Investment securities:
Taxable	1,534,895		14,661		3.83	%	1,541,868		14,471		3.81	%	1,523,297		15,043		3.93	%
Tax-exempt(b)	167,675		1,401		3.35	%	167,958		1,397		3.37	%	168,284		1,400		3.31	%
Total investment securities(b)	1,702,570		16,062		3.78	%	1,709,826		15,868		3.76	%	1,691,581		16,443		3.87	%
Federal funds sold and reverse repurchase agreements	113,252		1,256		4.45	%	123,390		1,374		4.52	%	112,388		1,393		4.93	%
Interest-bearing deposits with other financial institutions	426,073		4,733		4.46	%	811,216		8,902		4.45	%	943,638		11,361		4.79	%
Restricted equity securities, at cost	35,623		701		7.89	%	32,493		741		9.25	%	32,773		745		9.04	%
Total interest-earning assets(b)	12,244,522		182,905		5.99	%	12,391,926		180,492		5.91	%	12,374,945		186,992		6.01	%
Noninterest-earning assets:
Cash and due from banks	115,717						123,158						117,819
Allowance for credit losses on loans HFI	(151,586)						(152,234)						(155,022)
Other assets(c)(d)	823,837						844,119						856,453
Total noninterest-earning assets	787,968						815,043						819,250
Total assets	$	13,032,490					$	13,206,969					$	13,194,195
Interest-bearing liabilities:
Interest-bearing deposits:
Interest-bearing checking	$	2,521,239	$	15,870	2.52	%	$	2,840,211	$	18,267	2.61	%	$	2,837,092	$	20,957	2.94	%
Money market	4,115,987		34,957		3.41	%	4,083,754		34,360		3.41	%	3,880,258		35,044		3.59	%
Savings deposits	352,307		98		0.11	%	353,865		66		0.08	%	349,912		62		0.07	%
Customer time deposits	1,404,368		12,454		3.56	%	1,373,045		12,702		3.75	%	1,402,300		14,114		4.00	%
Brokered and internet time deposits	481,686		5,189		4.32	%	443,923		4,854		4.43	%	518,337		5,954		4.57	%
Time deposits	1,886,054		17,643		3.75	%	1,816,968		17,556		3.92	%	1,920,637		20,068		4.16	%
Total interest-bearing deposits	8,875,587		68,568		3.10	%	9,094,798		70,249		3.13	%	8,987,899		76,131		3.37	%
Other interest-bearing liabilities:
Securities sold under agreements to repurchase and federal funds purchased	11,107		26		0.94	%	11,046		6		0.22	%	14,791		16		0.43	%
Federal Home Loan Bank advances	23,077		258		4.48	%	—		—		—	%	—		—		—	%
Subordinated debt	130,851		1,813		5.56	%	130,755		1,804		5.60	%	130,658		1,837		5.59	%
Other borrowings	2,294		4		0.70	%	1,220		6		1.99	%	1,245		4		1.28	%
Total other interest-bearing liabilities	167,329		2,101		5.04	%	143,021		1,816		5.15	%	146,694		1,857		5.04	%
Total interest-bearing liabilities	9,042,916		70,669		3.13	%	9,237,819		72,065		3.16	%	9,134,593		77,988		3.40	%
Noninterest-bearing liabilities:
Demand deposits	2,206,305						2,134,924						2,241,492
Other liabilities(d)	200,077						250,175						253,514
Total noninterest-bearing liabilities	2,406,382						2,385,099						2,495,006
Total liabilities	11,449,298						11,622,918						11,629,599
Total common shareholders’ equity	1,583,099						1,583,958						1,564,503
Noncontrolling interest	93						93						93
Total equity	1,583,192						1,584,051						1,564,596
Total liabilities and shareholders’ equity	$	13,032,490					$	13,206,969					$	13,194,195
Net interest income(b)			$	112,236					$	108,427					$	109,004
Interest rate spread(b)					2.86	%					2.75	%					2.61	%
Net interest margin(b)(e)					3.68	%					3.55	%					3.50	%
Cost of total deposits					2.48	%					2.54	%					2.70	%
Average interest-earning assets to average interest-bearing liabilities					135.4	%					134.1	%					135.5	%
Tax-equivalent adjustment			$	821					$	786					$	623
Loans HFI yield components:
Contractual interest rate(b)			$	155,697	6.34	%			$	149,819	6.31	%			$	153,255	6.40	%
Origination and other loan fee income			1,945		0.08	%			1,797		0.08	%			1,859		0.08	%
(Amortization) accretion on purchased loans			(62)		—	%			2		—	%			119		—	%
Nonaccrual interest			384		0.02	%			556		0.02	%			664		0.03	%

Total loans HFI yield			$	157,964	6.44	%			$	152,174	6.41	%			$	155,897	6.51	%

(a) Average balances of nonaccrual loans and overdrafts are included in average loan balances.

(b) Includes tax-equivalent adjustment using combined marginal tax rate of 26.06%.

(c) Includes average net unrealized losses on investment securities available for sale of $128,818, $132,262 and $119,243 for the three months ended June 30, 2025, March 31, 2025 and

December 31, 2024, 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 $25,159, $30,731
and $31,519 for the three months ended June 30, 2025, March 31, 2025 and December 31, 2024, 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)

	Year Ended
	December 31, 2025						December 31, 2024
	Average balances		Interest income/ expense		Average yield/ rate		Average balances		Interest income/ expense		Average yield/ rate
Interest-earning assets:
Loans HFI(a)(b)	$	11,015,862	$	724,701	6.58	%	$	9,384,458	$	622,830	6.64	%
Mortgage loans held for sale	138,183		9,040		6.54	%	66,983		4,486		6.70	%

Investment securities:
Taxable	1,431,088		57,907		4.05	%	1,468,646		50,057		3.41	%
Tax-exempt(b)	168,634		5,660		3.36	%	196,003		6,423		3.28	%
Total investment securities(b)	1,599,722		63,567		3.97	%	1,664,649		56,480		3.39	%
Federal funds sold and reverse repurchase agreements	202,186		9,022		4.46	%	123,601		6,703		5.42	%
Interest-bearing deposits with other financial institutions	650,369		27,775		4.27	%	666,810		34,587		5.19	%
Restricted equity securities, at cost	38,554		3,114		8.08	%	33,307		3,040		9.13	%
Total interest-earning assets(b)	13,644,876		837,219		6.14	%	11,939,808		728,126		6.10	%
Noninterest-earning assets:
Cash and due from banks	128,977						135,338
Allowance for credit losses on loans HFI	(167,960)						(153,265)
Other assets(c)(d)	1,005,642						803,867
Total noninterest-earning assets	966,659						785,940
Total assets	$	14,611,535					$	12,725,748
Interest-bearing liabilities:
Interest-bearing deposits:
Interest-bearing checking	$	2,516,406	$	58,058	2.31	%	$	2,625,713	$	80,045	3.05	%
Money market	4,848,758		164,354		3.39	%	3,827,898		147,075		3.84	%
Savings deposits	382,757		831		0.22	%	363,649		253		0.07	%
Customer time deposits	1,718,706		63,682		3.71	%	1,399,278		55,529		3.97	%
Brokered and internet time deposits	524,018		22,282		4.25	%	276,864		13,443		4.86	%
Time deposits	2,242,724		85,964		3.83	%	1,676,142		68,972		4.11	%
Total interest-bearing deposits	9,990,645		309,207		3.09	%	8,493,402		296,345		3.49	%
Other interest-bearing liabilities:
Securities sold under agreements to repurchase and federal funds purchased	11,950		94		0.79	%	21,339		366		1.72	%
Federal Home Loan Bank advances	9,589		418		4.36	%	—		—		—	%
Subordinated debt	131,473		7,992		6.08	%	130,352		7,638		5.86	%
Other borrowings	3,509		115		3.28	%	97,182		4,686		4.82	%
Total other interest-bearing liabilities	156,521		8,619		5.51	%	248,873		12,690		5.10	%
Total interest-bearing liabilities	10,147,166		317,826		3.13	%	8,742,275		309,035		3.53	%
Noninterest-bearing liabilities:
Demand deposits	2,452,226						2,233,092
Other liabilities(d)	235,105						244,549
Total noninterest-bearing liabilities	2,687,331						2,477,641
Total liabilities	12,834,497						11,219,916
Total common shareholders’ equity	1,776,945						1,505,739
Noncontrolling interest	93						93
Total equity	1,777,038						1,505,832
Total liabilities and shareholders’ equity	$	14,611,535					$	12,725,748
Net interest income(b)			$	519,393					$	419,091
Interest rate spread(b)					3.01	%					2.57	%
Net interest margin(b)(e)					3.81	%					3.51	%
Cost of total deposits					2.49	%					2.76	%
Average interest-earning assets to average interest-bearing liabilities					134.5	%					136.6	%
Tax equivalent adjustment			$	3,293					$	2,588
Loans HFI yield components:
Contractual interest rate(b)			$	701,519	6.37	%			$	614,051	6.54	%
Origination and other loan fee income			7,950		0.07	%			6,365		0.07	%
Accretion on purchased loans			13,371		0.12	%			657		0.01	%
Nonaccrual interest			1,861		0.02	%			1,757		0.02	%

Total loans HFI yield			$	724,701	6.58	%			$	622,830	6.64	%

(a) Average balances of nonaccrual loans and overdrafts are included in average loan balances.

(b) Includes tax-equivalent adjustment using combined marginal tax rate of 26.06%.

(c) Includes average net unrealized losses on investment securities available for sale of $94,017 and $166,149 for the years ended December 31, 2025 and 2024, 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 $25,156 and $24,639 for the years ended December 31, 2025 and 2024, 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
	Dec 2025					Sep 2025					Jun 2025					Mar 2025					Dec 2024
Investment securities, at fair value
Available-for-sale debt securities:
U.S. government agency securities	$	670,088		46	%	$	653,197		46	%	$	642,264		48	%	$	602,942		38	%	$	563,007		36	%
Mortgage-backed securities - residential	602,320			41	%	587,587			41	%	541,343			40	%	816,556			52	%	810,999			53	%
Mortgage-backed securities - commercial	10,678			1	%	10,681			1	%	8,752			1	%	14,828			1	%	14,857			1	%
Municipal securities	168,370			12	%	165,411			12	%	144,228			11	%	145,396			9	%	147,857			10	%
Treasury securities	7,125			—	%	7,080			—	%	—			—	%	—			—	%	299			—	%
Corporate securities	998			—	%	2,995			—	%	978			—	%	998			—	%	989			—	%
Total available-for-sale debt securities	1,459,579			100	%	1,426,951			100	%	1,337,565			100	%	1,580,720			100	%	1,538,008			100	%
Equity securities, at fair value	155			—	%	1,450			—	%	—			—	%	—			—	%	—			—	%
Total investment securities, at fair value	$	1,459,734		100	%	$	1,428,401		100	%	$	1,337,565		100	%	$	1,580,720		100	%	$	1,538,008		100	%
Investment securities to total assets	8.96		%			8.80		%			10.0		%			12.0		%			11.7		%
Unrealized loss on available-for-sale debt securities	(47,887)					(55,890)					(63,262)					(128,173)					(141,389)

Sources of liquidity
Current on-balance sheet:
Cash and cash equivalents	$	1,155,895		64	%	$	1,280,033		68	%	$	1,165,729		68	%	$	794,706		53	%	$	1,042,488		63	%
Unpledged available-for-sale debt securities	649,000			36	%	608,716			32	%	547,354			32	%	703,117			47	%	600,965			37	%
Equity securities, at fair value	155			—	%	1,450			—	%	—			—	%	—			—	%	—			—	%
Total on-balance sheet liquidity	$	1,805,050		100	%	$	1,890,199		100	%	$	1,713,083		100	%	$	1,497,823		100	%	$	1,643,453		100	%

Available sources of liquidity:
Unsecured borrowing capacity(a)	$	3,915,314		43	%	$	4,018,822		52	%	$	3,325,751		48	%	$	3,369,107		48	%	$	3,318,091		49	%
FHLB remaining borrowing capacity	2,214,796			25	%	1,551,283			20	%	1,481,376			21	%	1,476,688			21	%	1,397,905			21	%
Federal Reserve discount window	2,879,586			32	%	2,196,785			28	%	2,119,018			31	%	2,134,448			31	%	2,053,541			30	%
Total available sources of liquidity	$	9,009,696		100	%	$	7,766,890		100	%	$	6,926,145		100	%	$	6,980,243		100	%	$	6,769,537		100	%

On-balance sheet liquidity as a percentage of total assets	11.1		%			11.6		%			12.8		%			11.4		%			12.5		%
On-balance sheet liquidity as a percentage of total tangible assets*	11.3		%			11.9		%			13.1		%			11.6		%			12.7		%
On-balance sheet liquidity and available sources of liquidity as a percentage of estimated uninsured and uncollateralized deposits(b)	264.8		%			245.0		%			289.5		%			283.4		%			293.8		%

(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.

*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
	Dec 2025		% of Total		Sep 2025		% of Total		Jun 2025		% of Total		Mar 2025		% of Total		Dec 2024		% of Total
Loan portfolio
Commercial and industrial	$	2,181,935	18	%	$	2,155,105	17	%	$	1,788,911	18	%	$	1,782,981	18	%	$	1,691,213	18	%
Construction	1,188,494		10	%	1,195,392		10	%	1,022,678		10	%	1,022,299		10	%	1,087,732		11	%
Residential real estate:
1-to-4 family mortgage	1,838,122		15	%	1,852,626		15	%	1,660,696		17	%	1,632,574		17	%	1,616,754		17	%
Residential line of credit	741,309		6	%	707,303		6	%	641,433		7	%	613,868		6	%	602,475		6	%
Multi-family mortgage	745,360		6	%	736,424		6	%	587,254		6	%	648,326		7	%	653,769		7	%
Commercial real estate:
Owner-occupied	2,148,870		17	%	2,124,920		17	%	1,370,123		14	%	1,356,007		14	%	1,357,568		14	%
Non-owner occupied	2,900,499		23	%	2,890,233		24	%	2,198,689		22	%	2,153,825		22	%	2,099,129		22	%
Consumer and other	639,037		5	%	635,597		5	%	604,498		6	%	561,656		6	%	493,744		5	%
Total loans HFI	$	12,383,626	100	%	$	12,297,600	100	%	$	9,874,282	100	%	$	9,771,536	100	%	$	9,602,384	100	%
Percentage of loans HFI portfolio with floating interest rates			52.2	%			51.5	%			49.6	%			49.7	%			49.4	%
Percentage of loans HFI portfolio with floating interest rates that mature after one year			49.3	%			48.0	%			45.2	%			44.4	%			43.5	%

Loans by market(a)
Metropolitan	$	5,812,055	47	%	$	5,828,109	48	%	$	4,964,113	50	%	$	5,005,392	51	%	$	4,952,026	51	%
Community	2,893,961		23	%	2,876,244		23	%	1,380,561		14	%	1,367,412		14	%	1,308,869		14	%
Specialty lending and other	3,677,610		30	%	3,593,247		29	%	3,529,608		36	%	3,398,732		35	%	3,341,489		35	%
Total	$	12,383,626	100	%	$	12,297,600	100	%	$	9,874,282	100	%	$	9,771,536	100	%	$	9,602,384	100	%



Unfunded loan commitments
Commercial and industrial	$	1,464,207	45	%	$	1,451,366	46	%	$	1,396,533	49	%	$	1,349,491	48	%	$	1,371,413	50	%
Construction	704,781		22	%	731,742		23	%	535,669		19	%	540,992		19	%	498,133		18	%
Residential real estate:
1-to-4 family mortgage	16,942		1	%	5,581		—	%	3,545		—	%	5,094		—	%	7,299		—	%
Residential line of credit	828,042		26	%	808,961		25	%	745,570		26	%	743,413		27	%	734,031		26	%
Multi-family mortgage	6,698		—	%	6,665		—	%	4,260		—	%	9,586		—	%	12,044		—	%
Commercial real estate:
Owner-occupied	92,265		3	%	96,287		3	%	86,135		3	%	68,566		3	%	78,856		3	%
Non-owner occupied	65,037		2	%	68,293		2	%	67,974		2	%	63,948		2	%	54,898		2	%
Consumer and other	20,530		1	%	21,480		1	%	21,999		1	%	14,547		1	%	13,431		1	%
Total unfunded loans HFI	$	3,198,502	100	%	$	3,190,375	100	%	$	2,861,685	100	%	$	2,795,637	100	%	$	2,770,105	100	%

(a) Prior period amounts have been recast to reflect updated definitions of market categories.


FB Financial Corporation						12


Asset Quality
As of or for the Three Months Ended
(Unaudited)
(Dollars in Thousands)

	As of or for the Three Months Ended
	Dec 2025			Sep 2025			Jun 2025			Mar 2025			Dec 2024
Allowance for credit losses on loans HFI roll forward summary
Allowance for credit losses on loans HFI at the beginning of the period	$	184,993		$	148,948		$	150,531		$	151,942		$	156,260
Charge-offs	(1,818)			(1,709)			(1,454)			(3,893)			(12,010)
Recoveries	380			279			973			576			673
Impact of change in accounting estimate for current expected credit losses	—			—			(6,848)			—			—
Provision for credit losses on loans HFI	2,428			29,957			5,746			1,906			7,019
Initial allowance on acquired loans with credit deterioration	—			7,518			—			—			—
Allowance for credit losses on loans HFI at the end of the period	$	185,983		$	184,993		$	148,948		$	150,531		$	151,942
Allowance for credit losses on loans HFI as a percentage of loans HFI	1.50		%	1.50		%	1.51		%	1.54		%	1.58		%

Allowance for credit losses on unfunded commitments	$	16,196		$	17,392		$	12,932		$	6,493		$	6,107
Charge-offs
Commercial and industrial	$	(65)		$	(100)		$	(70)		$	(2,901)		$	(10,921)
Construction	—			(399)			—			—			(30)
Residential real estate:
1-to-4 family mortgage	(368)			(322)			(433)			(3)			(144)


Commercial real estate:
Owner occupied	—			—			—			(17)			—

Consumer and other	(1,385)			(888)			(951)			(972)			(915)
Total charge-offs	(1,818)			(1,709)			(1,454)			(3,893)			(12,010)
Recoveries
Commercial and industrial	159			12			173			42			371

Residential real estate:
1-to-4 family mortgage	13			6			11			9			9
Residential line of credit	—			11			1			—			—

Commercial real estate:
Owner occupied	8			4			9			21			5
Non-owner occupied	—			—			528			1			—
Consumer and other	200			246			251			503			288
Total recoveries	380			279			973			576			673
Net charge-offs	$	(1,438)		$	(1,430)		$	(481)		$	(3,317)		$	(11,337)
Annualized net charge-offs as a percentage of average loans HFI	0.05		%	0.05		%	0.02		%	0.14		%	0.47		%
Nonperforming assets
Loans past due 90 days or more and accruing interest	$	32,751		$	26,311		$	21,962		$	28,422		$	24,347
Nonaccrual loans	87,721			89,448			73,950			48,738			59,358
Total nonperforming loans HFI	120,472			115,759			95,912			77,160			83,705


Mortgage loans held for sale(a)	28,102			21,660			20,977			27,152			31,357

Other real estate owned	6,009			4,466			2,998			3,326			4,409
Other repossessed assets	3,564			3,314			3,151			2,791			2,444
Total nonperforming assets	$	158,147		$	145,199		$	123,038		$	110,429		$	121,915
Total nonperforming loans HFI as a percentage of loans HFI	0.97		%	0.94		%	0.97		%	0.79		%	0.87		%
Total nonperforming assets as a percentage of total assets	0.97		%	0.89		%	0.92		%	0.84		%	0.93		%
Total nonaccrual loans as a percentage of loans HFI	0.71		%	0.73		%	0.75		%	0.50		%	0.62		%

(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
	Dec 2025					Sep 2025					Jun 2025					Mar 2025					Dec 2024





Deposits by market(a)
Metropolitan	$	6,020,095		43	%	$	5,766,856		42	%	$	5,359,974		47	%	$	5,390,434		48	%	$	5,246,590		47	%
Community	6,926,897			50	%	6,822,736			49	%	4,713,637			42	%	4,819,665			43	%	4,729,962			42	%
Brokered/wholesale	625,634			5	%	487,765			4	%	518,719			4	%	414,428			4	%	469,089			4	%
Escrow and other(b)	337,335			2	%	735,598			5	%	811,140			7	%	577,471			5	%	764,793			7	%
Total	$	13,909,961		100	%	$	13,812,955		100	%	$	11,403,470		100	%	$	11,201,998		100	%	$	11,210,434		100	%

Deposits by customer segment
Consumer	$	6,063,015		44	%	$	5,966,458		43	%	$	4,772,582		42	%	$	4,868,544		43	%	$	4,853,609		43	%
Commercial	6,162,221			44	%	6,045,418			44	%	4,835,968			42	%	4,695,923			42	%	4,802,105			43	%
Public	1,684,725			12	%	1,801,079			13	%	1,794,920			16	%	1,637,531			15	%	1,554,720			14	%
Total	$	13,909,961		100	%	$	13,812,955		100	%	$	11,403,470		100	%	$	11,201,998		100	%	$	11,210,434		100	%

Estimated insured or collateralized deposits	$	9,825,599				$	9,871,337				$	8,418,783				$	8,210,241				$	8,346,796





Estimated uninsured and uncollateralized deposits(c)	$	4,084,362				$	3,941,618				$	2,984,687				$	2,991,757				$	2,863,638

Estimated uninsured and uncollateralized deposits as a % of total deposits(c)	29.4		%			28.5		%			26.2		%			26.7		%			25.5		%

(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:	December 31, 2025			December 31, 2024

Total Common Shareholders' Equity	$	1,948,165		$	1,567,538
Less:
Goodwill	350,353			242,561
Other intangibles	31,284			5,762
Tangible Common Equity	$	1,566,528		$	1,319,215

Total Assets	$	16,300,292		$	13,157,482
Less:
Goodwill	350,353			242,561
Other intangibles	31,284			5,762
Tangible Assets	$	15,918,655		$	12,909,159

Preliminary Total Risk-Weighted Assets	$	14,252,337		$	11,306,312

Total Common Equity to Total Assets	12.0		%	11.9		%
Tangible Common Equity to Tangible Assets*	9.84		%	10.2		%


	December 31, 2025			December 31, 2024
Preliminary Regulatory Capital:
Common Equity Tier 1 Capital	$	1,625,952		$	1,450,722
Tier 1 Capital	1,625,952			1,480,722
Total Capital	1,888,038			1,721,941

Preliminary Regulatory Capital Ratios:
Common Equity Tier 1	11.4		%	12.8		%
Tier 1 Risk-Based	11.4		%	13.1		%
Total Risk-Based	13.2		%	15.2		%
Tier 1 Leverage	10.3		%	11.3		%

*Non-GAAP financial measure; See “Use of non-GAAP Financial Measures” and Non-GAAP reconciliations herein.


FB Financial Corporation						15


Segment Data
(Unaudited)
(Dollars in Thousands)

	As of or for the Three Months Ended
	Dec 2025			Sep 2025			Jun 2025			Mar 2025			Dec 2024
Banking segment
Interest income	$	233,202		$	236,073		$	180,960		$	178,915		$	186,219
Interest expense	86,637			91,214			72,051			73,156			79,426
Net interest income	$	146,565		$	144,859		$	108,909		$	105,759		$	106,793
Provisions for credit losses	796			34,070			582			2,189			7,133

Noninterest income (loss)	15,207			13,078			(47,720)			10,660			11,311


Salaries, commissions and employee benefits	55,928			51,441			38,635			41,469			38,289
Merger and integration costs	4,611			16,057			2,734			401			—
Other noninterest expense	33,017			29,471			25,961			25,039			22,715
Pre-tax net contribution (loss) after allocations	$	67,420		$	26,898		$	(6,723)		$	47,321		$	49,967
Total assets	$	15,623,962		$	15,598,629		$	12,736,830		$	12,490,097		$	12,554,435

Efficiency ratio	57.8		%	61.4		%	110.0		%	57.5		%	51.7		%
Adjusted efficiency ratio*	53.5		%	50.6		%	52.8		%	56.5		%	50.1		%
Mortgage segment
Interest income	$	2,036		$	825		$	1,124		$	791		$	150
Interest expense	(1,203)			(1,556)			(1,382)			(1,091)			(1,438)
Net interest income	$	3,239		$	2,381		$	2,506		$	1,882		$	1,588
Provisions for (reversals of) loan losses	436			347			4,755			103			(49)
Mortgage banking income	13,505			13,484			13,029			12,426			10,586
Other noninterest income (loss)	83			73			139			(54)			100


Salaries, commissions and employee benefits	7,601			7,769			7,996			6,882			7,143
Other noninterest expense	6,391			5,118			5,935			5,758			5,027
Pre-tax net contribution (loss) after allocations	$	2,399		$	2,704		$	(3,012)		$	1,511		$	153
Total assets	$	676,330		$	637,830		$	617,408		$	646,352		$	603,047

Efficiency ratio	83.2		%	80.9		%	88.9		%	88.7		%	99.2		%
Adjusted efficiency ratio*	83.2		%	80.9		%	89.1		%	87.9		%	99.2		%










Interest rate lock commitments volume	$	385,516		$	432,149		$	456,720		$	381,777		$	315,891




Interest rate lock commitments pipeline (period end)	$	86,586		$	128,961		$	127,004		$	118,200		$	65,687




Mortgage loan sales	$	336,085		$	343,450		$	391,061		$	222,805		$	287,291
Gains and fees from origination and sale of mortgage loans held for sale	$	9,976		$	9,237		$	11,200		$	5,602		$	7,788
Net change in fair value of loans held for sale, derivatives, and other	(57)			801			(876)			2,816			(96)
Mortgage servicing income	6,668			6,836			6,936			7,077			7,305
Change in fair value of mortgage servicing rights, net of hedging	(3,082)			(3,390)			(4,231)			(3,069)			(4,411)
Total mortgage banking income	$	13,505		$	13,484		$	13,029		$	12,426		$	10,586
Mortgage sale margin(a)	2.97		%	2.69		%	2.86		%	2.51		%	2.71		%

*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 Share Data)

	Three Months Ended										Year Ended
Adjusted net income	Dec 2025		Sep 2025		Jun 2025		Mar 2025		Dec 2024		Dec 2025		Dec 2024
Income (loss) before income taxes	$	69,819	$	29,602	$	(9,735)	$	48,832	$	50,120	$	138,518	$	146,670
Less gain (loss) from securities, net	64		12		(60,549)		16		—		(60,457)		(56,378)
Less (loss) gain on sales or write-downs of premises and equipment, other real estate owned and other assets, net	(131)		(646)		236		(625)		(2,162)		(1,166)		(2,167)
Less cash life insurance benefit	1,148		—		—		—		—		1,148		2,057

Plus initial provision for credit losses on acquired loans and unfunded commitments	—		28,366		—		—		—		28,366		—
Plus early retirement and severance costs	1,395		—		—		—		463		1,395		1,478
Plus loss on lease terminations and other branch closure costs	12		270		—		—		—		282		—
Plus certain nonrecurring charitable contributions	1,130		—		—		—		—		1,130		—
Plus FDIC special assessment	—		—		—		—		—		—		500
Plus merger and integration costs	4,611		16,057		2,734		401		—		23,803		—

Adjusted pre-tax net income	75,886		74,929		53,312		49,842		52,745		253,969		205,136
Less income tax expense, adjusted for items above(a)	14,392		17,323		3,778		9,734		12,910		45,227		45,855
Plus income tax benefit(b)	—		—		(8,713)		—		—		(8,713)		—
Adjusted net income	$	61,494	$	57,606	$	40,821	$	40,108	$	39,835	$	200,029	$	159,281
Weighted average common share outstanding - fully diluted	53,074,753		53,957,062		46,179,090		47,024,211		46,862,935		50,070,121		46,872,625
Adjusted diluted earnings per common share
Diluted earnings per common share	$	1.07	$	0.43	$	0.06	$	0.84	$	0.81	$	2.45	$	2.48








Adjusted diluted earnings per common share	$	1.16	$	1.07	$	0.88	$	0.85	$	0.85	$	3.99	$	3.40






(a) Adjusted items calculated using the combined marginal 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, Except Share Data)

	Three Months Ended										Year Ended
Adjusted pre-tax pre-provision net revenue	Dec 2025		Sep 2025		Jun 2025		Mar 2025		Dec 2024		Dec 2025		Dec 2024
Income (loss) before income taxes	$	69,819	$	29,602	$	(9,735)	$	48,832	$	50,120	$	138,518	$	146,670
Plus provisions for credit losses	1,232		34,417		5,337		2,292		7,084		43,278		12,004
Pre-tax pre-provision net revenue	71,051		64,019		(4,398)		51,124		57,204		181,796		158,674
Less gain (loss) from securities, net	64		12		(60,549)		16		—		(60,457)		(56,378)
Less (loss) gain on sales or write-downs of premises and equipment, other real estate owned and other assets, net	(131)		(646)		236		(625)		(2,162)		(1,166)		(2,167)
Less cash life insurance benefit	1,148		—		—		—		—		1,148		2,057

Plus early retirement and severance costs	1,395		—		—		—		463		1,395		1,478
Plus loss on lease terminations and other branch closure costs	12		270		—		—		—		282		—
Plus certain nonrecurring charitable contributions	1,130		—		—		—		—		1,130		—
Plus FDIC special assessment	—		—		—		—		—		—		500
Plus merger and integration costs	4,611		16,057		2,734		401		—		23,803		—
Adjusted pre-tax pre-provision net revenue	$	77,118	$	80,980	$	58,649	$	52,134	$	59,829	$	268,881	$	217,140



	Three Months Ended										Year Ended
Adjusted tangible net income	Dec 2025		Sep 2025		Jun 2025		Mar 2025		Dec 2024		Dec 2025		Dec 2024
Income (loss) before income taxes	$	69,819	$	29,602	$	(9,735)	$	48,832	$	50,120	$	138,518	$	146,670
Plus amortization of core deposit and other intangibles	1,932		2,079		631		656		687		5,298		2,947
Less gain (loss) from securities, net	64		12		(60,549)		16		—		(60,457)		(56,378)
Less (loss) gain on sales or write-downs of premises and equipment, other real estate owned and other assets, net	(131)		(646)		236		(625)		(2,162)		(1,166)		(2,167)
Less cash life insurance benefit	1,148		—		—		—		—		1,148		2,057

Plus initial provision for credit losses on acquired loans and unfunded commitments	—		28,366		—		—		—		28,366		—
Plus early retirement and severance costs	1,395		—		—		—		463		1,395		1,478
Plus loss on lease terminations and other branch closure costs	12		270		—		—		—		282		—
Plus certain nonrecurring charitable contributions	1,130		—		—		—		—		1,130		—
Plus FDIC special assessment	—		—		—		—		—		—		500
Plus merger and integration costs	4,611		16,057		2,734		401		—		23,803		—
Less income tax expense, adjusted for items above(a)	14,895		17,864		3,942		9,905		13,089		46,606		46,623
Plus income tax benefit(b)	—		—		(8,713)		—		—		(8,713)		—
Adjusted tangible net income	$	62,923	$	59,144	$	41,288	$	40,593	$	40,343	$	203,948	$	161,460
(a) Adjusted items calculated using the combined marginal 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						18


Non-GAAP Reconciliations (continued)

(Unaudited)
(Dollars in Thousands)









	Three Months Ended															Year Ended
Adjusted efficiency ratio (tax- equivalent basis)	Dec 2025			Sep 2025			Jun 2025			Mar 2025			Dec 2024			Dec 2025			Dec 2024
Total noninterest expense	$	107,548		$	109,856		$	81,261		$	79,549		$	73,174		$	378,214		$	296,899



Less early retirement and severance costs	1,395			—			—			—			463			1,395			1,478
Less loss on lease terminations and other branch closure costs	12			270			—			—			—			282			—
Less certain nonrecurring charitable contributions	1,130			—			—			—			—			1,130			—
Less FDIC special assessment	—			—			—			—			—			—			500
Less merger and integration costs	4,611			16,057			2,734			401			—			23,803			—
Adjusted noninterest expense	$	100,400		$	93,529		$	78,527		$	79,148		$	72,711		$	351,604		$	294,921
Net interest income	$	149,804		$	147,240		$	111,415		$	107,641		$	108,381		$	516,100		$	416,503
Net interest income (tax-equivalent basis)	150,642			148,088			112,236			108,427			109,004			519,393			419,091
Total noninterest income (loss)	28,795			26,635			(34,552)			23,032			21,997			43,910			39,070
Less gain (loss) from securities, net	64			12			(60,549)			16			—			(60,457)			(56,378)
Less (loss) gain on sales or write-downs of premises and equipment, other real estate owned and other assets, net	(131)			(646)			236			(625)			(2,162)			(1,166)			(2,167)
Less cash life insurance benefit	1,148			—			—			—			—			1,148			2,057



Adjusted noninterest income	27,714			27,269			25,761			23,641			24,159			104,385			95,558
Total revenue	$	178,599		$	173,875		$	76,863		$	130,673		$	130,378		$	560,010		$	455,573
Adjusted revenue (tax-equivalent basis)	$	178,356		$	175,357		$	137,997		$	132,068		$	133,163		$	623,778		$	514,649
Efficiency ratio	60.2		%	63.2		%	105.7		%	60.9		%	56.1		%	67.5		%	65.2		%
Adjusted efficiency ratio (tax- equivalent basis)	56.3		%	53.3		%	56.9		%	59.9		%	54.6		%	56.4		%	57.3		%


FB Financial Corporation						19


Non-GAAP Reconciliations (continued)

(Unaudited)
(Dollars in Thousands)

	Three Months Ended															Year Ended
Banking segment adjusted efficiency ratio (tax-equivalent)	Dec 2025			Sep 2025			Jun 2025			Mar 2025			Dec 2024			Dec 2025			Dec 2024
Banking segment noninterest expense	$	93,556		$	96,969		$	67,330		$	66,909		$	61,004		$	324,764		$	246,490
Less early retirement and severance costs	1,395			—			—			—			463			1,395			1,478
Less loss on lease terminations and other branch closure costs	12			270			—			—			—			282			—
Less certain nonrecurring charitable contributions	1,130			—			—			—			—			1,130			—
Less FDIC special assessment	—			—			—			—			—			—			500
Less merger and integration costs	4,611			16,057			2,734			401			—			23,803			—
Banking segment adjusted noninterest expense	$	86,408		$	80,642		$	64,596		$	66,508		$	60,541		$	298,154		$	244,512
Banking segment net interest income	$	146,565		$	144,859		$	108,909		$	105,759		$	106,793		$	506,092		$	410,783
Banking segment net interest income (tax-equivalent basis)	147,403			145,707			109,730			106,545			107,416			509,385			413,371
Banking segment noninterest income (loss)	15,207			13,078			(47,720)			10,660			11,311			(8,775)			(8,376)
Less gain (loss) from securities, net	64			12			(60,549)			16			—			(60,457)			(56,378)


Less cash life insurance benefit	1,148			—			—			—			—			1,148			2,057
Less (loss) gain on sales or write-downs of premises and equipment, other real estate owned and other assets, net	(131)			(646)			203			(497)			(2,162)			(1,071)			(2,350)
Banking segment adjusted noninterest income	14,126			13,712			12,626			11,141			13,473			51,605			48,295
Banking segment total revenue	$	161,772		$	157,937		$	61,189		$	116,419		$	118,104		$	497,317		$	402,407
Banking segment total adjusted revenue (tax-equivalent basis)	$	161,529		$	159,419		$	122,356		$	117,686		$	120,889		$	560,990		$	461,666
Banking segment efficiency ratio	57.8		%	61.4		%	110.0		%	57.5		%	51.7		%	65.3		%	61.3		%
Banking segment adjusted efficiency ratio (tax-equivalent basis)	53.5		%	50.6		%	52.8		%	56.5		%	50.1		%	53.1		%	53.0		%


FB Financial Corporation						20


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

	Three Months Ended															Year Ended
Mortgage segment adjusted efficiency ratio (tax-equivalent)	Dec 2025			Sep 2025			Jun 2025			Mar 2025			Dec 2024			Dec 2025			Dec 2024
Mortgage segment noninterest expense	$	13,992		$	12,887		$	13,931		$	12,640		$	12,170		$	53,450		$	50,409




Mortgage segment adjusted noninterest expense	$	13,992		$	12,887		$	13,931		$	12,640		$	12,170		$	53,450		$	50,409
Mortgage segment net interest income	$	3,239		$	2,381		$	2,506		$	1,882		$	1,588		$	10,008		$	5,720
Mortgage segment noninterest income	13,588			13,557			13,168			12,372			10,686			52,685			47,446
Less gain (loss) on sales or write- downs of premises and equipment, other real estate owned and other assets, net	—			—			33			(128)			—			(95)			183
Mortgage segment adjusted noninterest income	13,588			13,557			13,135			12,500			10,686			52,780			47,263
Mortgage segment total revenue	$	16,827		$	15,938		$	15,674		$	14,254		$	12,274		$	62,693		$	53,166
Mortgage segment adjusted total revenue	$	16,827		$	15,938		$	15,641		$	14,382		$	12,274		$	62,788		$	52,983
Mortgage segment efficiency ratio	83.2		%	80.9		%	88.9		%	88.7		%	99.2		%	85.3		%	94.8		%
Mortgage segment adjusted efficiency ratio (tax-equivalent basis)	83.2		%	80.9		%	89.1		%	87.9		%	99.2		%	85.1		%	95.1		%


FB Financial Corporation						21


Non-GAAP Reconciliations (continued)

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

	As of
Tangible assets, common equity and related measures	Dec 2025			Sep 2025			Jun 2025			Mar 2025			Dec 2024
Tangible assets
Total assets	$	16,300,292		$	16,236,459		$	13,354,238		$	13,136,449		$	13,157,482
Less goodwill	350,353			350,353			242,561			242,561			242,561
Less intangibles, net	31,284			33,216			4,475			5,106			5,762
Tangible assets	$	15,918,655		$	15,852,890		$	13,107,202		$	12,888,782		$	12,909,159
Tangible common equity
Total common shareholders’ equity	$	1,948,165		$	1,978,043		$	1,611,130		$	1,601,962		$	1,567,538
Less goodwill	350,353			350,353			242,561			242,561			242,561
Less intangibles, net	31,284			33,216			4,475			5,106			5,762
Tangible common equity	$	1,566,528		$	1,594,474		$	1,364,094		$	1,354,295		$	1,319,215


Common shares outstanding	51,752,401			53,456,522			45,807,689			46,514,547			46,663,120
Book value per common share	$	37.64		$	37.00		$	35.17		$	34.44		$	33.59
Tangible book value per common share	$	30.27		$	29.83		$	29.78		$	29.12		$	28.27

Total common shareholders’ equity to total assets	12.0		%	12.2		%	12.1		%	12.2		%	11.9		%
Tangible common equity to tangible assets	9.84		%	10.1		%	10.4		%	10.5		%	10.2		%
On-balance sheet liquidity:
Cash and cash equivalents	$	1,155,895		$	1,280,033		$	1,165,729		$	794,706		$	1,042,488
Unpledged securities	649,000			608,716			547,354			703,117			600,965
Equity securities, at fair value	155			1,450			—			—			—
Total on-balance sheet liquidity	$	1,805,050		$	1,890,199		$	1,713,083		$	1,497,823		$	1,643,453
On-balance sheet liquidity as a percentage of total assets	11.1		%	11.6		%	12.8		%	11.4		%	12.5		%
On-balance sheet liquidity as a percentage of total tangible assets	11.3		%	11.9		%	13.1		%	11.6		%	12.7		%


FB Financial Corporation						22


Non-GAAP Reconciliations (continued)

(Unaudited)
(Dollars in Thousands)


	Three Months Ended															Year Ended
Adjusted return on average tangible common equity and related measures	Dec 2025			Sep 2025			Jun 2025			Mar 2025			Dec 2024			Dec 2025			Dec 2024
Average common shareholders’ equity	$	1,956,633		$	1,977,785		$	1,583,099		$	1,583,958		$	1,564,503		$	1,776,945		$	1,505,739
Less average goodwill	350,353			350,355			242,561			242,561			242,561			296,901			242,561
Less average intangibles, net	32,301			34,983			4,791			5,426			6,107			19,492			7,177
Average tangible common equity	$	1,573,979		$	1,592,447		$	1,335,747		$	1,335,971		$	1,315,835		$	1,460,552		$	1,256,001
Net income	$	56,977		$	23,375		$	2,909		$	39,361		$	37,886		$	122,622		$	116,035
Return on average common equity	11.6		%	4.69		%	0.74		%	10.1		%	9.63		%	6.90		%	7.71		%
Return on average tangible common equity	14.4		%	5.82		%	0.87		%	11.9		%	11.5		%	8.40		%	9.24		%
Adjusted tangible net income	$	62,923		$	59,144		$	41,288		$	40,593		$	40,343		$	203,948		$	161,460
Adjusted return on average tangible common equity	15.9		%	14.7		%	12.4		%	12.3		%	12.2		%	14.0		%	12.9		%












	Three Months Ended															Year Ended
Adjusted return on average assets, common equity and related measures	Dec 2025			Sep 2025			Jun 2025			Mar 2025			Dec 2024			Dec 2025			Dec 2024
Net income	$	56,977		$	23,375		$	2,909		$	39,361		$	37,886		$	122,622		$	116,035
Average assets	16,151,195			16,007,788			13,032,490			13,206,969			13,194,195			14,611,535			12,725,748
Average common equity	1,956,633			1,977,785			1,583,099			1,583,958			1,564,503			1,776,945			1,505,739
Return on average assets	1.40		%	0.58		%	0.09		%	1.21		%	1.14		%	0.84		%	0.91		%
Return on average common equity	11.6		%	4.69		%	0.74		%	10.1		%	9.63		%	6.90		%	7.71		%
Adjusted net income	$	61,494		$	57,606		$	40,821		$	40,108		$	39,835		$	200,029		$	159,281
Adjusted return on average assets	1.51		%	1.43		%	1.26		%	1.23		%	1.20		%	1.37		%	1.25		%
Adjusted return on average common equity	12.5		%	11.6		%	10.3		%	10.3		%	10.1		%	11.3		%	10.6		%













Adjusted pre-tax pre-provision net income	$	77,118		$	80,980		$	58,649		$	52,134		$	59,829		$	268,881		$	217,140
Adjusted pre-tax pre-provision return on average assets	1.89		%	2.01		%	1.81		%	1.60		%	1.80		%	1.84		%	1.71		%


FB Financial Corporation						23

January 22, 2026 2025 Fourth 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. These forward-looking statements include, without limitation, statements regarding the Company’s future plans, results, strategies, and expectations, including expectations around changing economic markets. 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, and mortgage operations, (3) increased competition for deposits, (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, or the impact of interest rates on the value of our investment securities portfolio, (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 mergers 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 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, (9) changes in state and federal legislation, regulations or policies applicable to banks and other financial service providers, including legislative developments, (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, (13) concentrations of credit or deposit exposure, (14) the impact of natural disasters, pandemics, acts of war or 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, and/or (16) 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, 2024, 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 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, 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 its 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 non-adjusted gains and charges 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 2025 Full Year Summary 1 Non-GAAP financial measure; See “Use of non-GAAP Financial Measures” and Non-GAAP reconciliations herein. Key highlights Reported Adjusted1 Diluted earnings per common share $ 2.45 $ 3.99 Pre-Tax Pre-Provision Net Revenue (PPNR) ($mm) $ 181.8 $ 268.9 Net interest margin (tax-equivalent basis) 3.81% 3.81% Efficiency Ratio 67.5% 56.4% Return on average assets 0.84% 1.37% Return on average tangible common equity1 8.40% 14.0% 2025 2024 Change Revenue $560.0 $455.6 +$104.4 / +23% $181.8 $158.7 +$23.1 / +15% Net Income $122.6 $116.0 +$6.6 / +6% PPNR Loans HFI $12.4 $9.6 +$2.8 / +29% Deposits $13.9 $11.2 +$2.7 / +24% $ in millions $ in billions

4 4Q 2025 Results 1 Non-GAAP financial measure; See “Use of non-GAAP Financial Measures” and Non-GAAP reconciliations herein. Key highlights Earnings • Net income of $57.0 million or $61.5 million (adjusted) • 3 bps net interest margin (“NIM”) expansion to 3.98% • Strong returns on a reported & adjusted basis – • ROATCE of 14.4% or 15.9% (adjusted) • PPNR ROAA of 1.75% or 1.89% (adjusted) Balance Sheet • Loans HFI balances up ~3% annualized • Deposit balances up ~3% annualized • Full year growth on the balance sheet driven by acquisition of Southern States Bancshares Inc. (“SSBK”) Credit • Stable reserve levels with ACL coverage ratio of 1.50% • Minimal net charge-offs at annualized rate of 0.05% • Nonperforming asset ratios up slightly QoQ Capital • Stock buyback transaction repurchasing ~3% of the company’s outstanding shares • Capital position remains strong – • Tangible Common Equity to Tangible Assets of 9.84% • CET 1 Ratio 11.4% and Total Risk-Based Capital 13.2% (preliminary) Reported Adjusted1 Diluted earnings per common share $ 1.07 $ 1.16 Pre-Tax Pre-Provision Net Revenue ($mm) $ 71.1 $ 77.1 Net interest margin (tax-equivalent basis) 3.98% 3.98% Efficiency Ratio 60.2% 56.3% Return on average assets 1.40% 1.51% Return on average tangible common equity1 14.4% 15.9%

5 4Q 2025 Earnings Quarter ended $ Change from $ in thousands, except per share data 4Q25 3Q25 4Q24 3Q25 4Q24 Total Revenue 178,599 173,875 130,378 4,724 48,221 Provision for credit losses 1,232 34,417 7,084 (33,185) (5,852) Noninterest Expense 107,548 109,856 73,174 (2,308) 34,374 Pre-tax income 69,819 29,602 50,120 40,217 19,699 Income tax expense 12,834 6,227 12,226 6,607 608 Noncontrolling Interest 8 - 8 8 - Net income 56,977 23,375 37,886 33,602 19,091 Total non-gaap adjustments1 4,517 34,231 1,949 (29,714) 2,568 Adjusted net income2 61,494 57,606 39,835 3,888 21,659 Diluted earnings per share $ 1.07 $ 0.43 $ 0.81 $ 0.64 $ 0.26 Adjusted diluted earnings per share2 $ 1.16 $ 1.07 $0.85 $ 0.09 $ 0.31 Non-GAAP Reconciliation $ in thousands 4Q25 Income before income taxes 69,819 Plus merger and integration costs 4,611 Plus early retirement and severance costs 1,395 Plus certain nonrecurring charitable contributions 1,130 Less cash life insurance benefit 1,148 Plus other items, net 79 Less income tax expense, adj for items above 14,392 Adjusted Net Income2 61,494 Net Income 56,977 Total non-gaap adjustments1 4,517 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. • Higher revenue driven by improvements of $2.6 million in net interest income (NII) and $2.1 million in noninterest income • Modest provision expense in Q4 at ~$1.2 million • Q3 provision includes the day one expense for acquired Non-PCD loans & unfunded commitments • Lower Merger and Integration costs in Q4 drive the reported decrease in noninterest expense (“NIE”) • On an adjusted basis, NIE up $6.9 million vs the prior quarter driven by performance-based compensation costs and increased franchise tax expense

6 Driving shareholder value ¹ Non-GAAP financial measure; See “Use of non-GAAP Financial Measures” and Non-GAAP reconciliations herein. 2 4Q25 calculation is preliminary and subject to change. $2.64 $2.57 $2.48 $2.45 $2.92 $3.01 $3.40 $3.99 2022 2023 2024 2025 Earnings per share Adjusted earnings per share Earnings per Share $14 $14 $20 $22 $25 $27 $30 $28 $31 $34 $38 $12 $12 $15 $17 $19 $22 $25 $23 $26 $28 $30 3Q16 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 BVPS TBVPS 15.2% 15.2% 14.7% 13.6% 13.2% 4Q24 1Q25 2Q25 3Q25 4Q25 0.87% 0.79% 0.97% 0.94% 0.97% 4Q24 1Q25 2Q25 3Q25 4Q25 $59.8 $52.1 $58.6 $81.0 $77.1 4Q24 1Q25 2Q25 3Q25 4Q25 Book Value per Share Total RBC Ratio2 NPLs / Total Loans HFIAdjusted ROATCE1Adjusted PPNR1 (in millions) 1 1 $1,319 $1,354 $1,364 $1,594 $1,567 12.2% 12.3% 12.4% 14.7% 15.9% 4Q24 1Q25 2Q25 3Q25 4Q25 Tangible Common Equity Adj ROATCE11

7 Net Interest Margin $109.0 $108.4 $112.2 $148.1 $150.6 3.50% 3.55% 3.68% 3.95% 3.98% 4Q24 1Q25 2Q25 3Q25 4Q25 FTE NII / NIM Trend ($ millions) Net Interest Income (NII) Net Interest Margin (NIM) Highlights Net Interest Income Rollforward ($ in thousands) 3Q25 Net Interest Income 148,088 Impact of loan & deposit rate changes (132) Impact of loan volume changes 3,131 Impact of deposit volume changes 648 Impact of borrowings changes 1,462 Impact of change in cash (2,079) Impact of all other changes (476) 4Q25 Net Interest Income 150,642 • Net interest income spurred higher by increased loan balances and first full-quarter impact of 3Q sub-debt & TruPS payoff • Lower rate environment drove interest income down on loans and cash, partially offset by cost of funds management on deposits • Accretion on purchased loans contributed ~$6.4 million or 17 bps to NIM in 4Q

8 Noninterest Income & Expense $73.1 $109.9 $107.6 56.1% 63.2% 60.2% 4Q24 3Q25 4Q25 Noninterest Expense ($ millions) Noninterest Expense Efficiency Ratio $72.7 $93.5 $100.4 54.6% 53.3% 56.3% 4Q24 3Q25 4Q25 Adj. Noninterest Expense ($ millions) Adj. Noninterest Expense Adj. Efficiency Ratio $22.0 $26.6 $28.8 $24.2 $27.3 $27.7 4Q24 3Q25 4Q25 Noninterest Income ($ 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: • QoQ Noninterest income benefited from – ~$1.1 million BOLI death benefit gain in Q4 ~$515k reduction in Other asset write-offs ~$400k increase in Swap fee income ~$245k increase in Investment services & trust income Noninterest expense: • Lower merger & integration costs in the period drove the decline in NIE • Adj. NIE impacted by – • Higher performance-based compensation costs of ~$3 million • Increased franchise tax expense of ~$1.2 million • Other seasonally higher accruals and vendor costs at year-end

9 Loans HFI $9.60 $9.77 $9.87 $12.30 $12.38 6.51% 6.41% 6.44% 6.75% 6.64% 4Q 24 1Q 25 2Q25 3Q25 4Q25 Loans HFI / Total Yield ($ billions) Loans HFI Total Loan HFI Yield 1-4 family 15% 1-4 family HELOC 6% Multifamily 6% C&D 10% CRE 23% C&I 35% Other 5% Portfolio Mix $12.4 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 marginal tax rate of 26.06%. 1 2 • Ending Loans HFI balances up $86 million and average balances up $180 million QoQ • Growth categories included – C&I, CRE, Residential Real Estate, and Consumer & Other • Larger payoff activity was concentrated in the C&I and CRE categories in Q4 • Lower yield driven by the decrease in benchmark interest rates which impacted variable rate loan repricing during the quarter • Loans HFI portfolio is split ~52% variable & ~48% fixed

10 Office 18% Retail 20% Hotel 17% Warehouse/Industrial 19% Land-Manufactured Housing 4% Self Storage 5% Healthcare Facility 2% Assisted Living Facility 6% Other 9% Residential Development 36% Commercial 39% Consumer 17% Multifamily 8% Construction 27% Land 6% Lots 3% Diversified loan portfolio CRE2 exposure by type Note: Data as of December 31, 2025. 1 C&I includes owner-occupied CRE. 2 Excludes owner-occupied CRE. C&D exposure by type C&I1 Exposure by Industry ($ millions) Industry C&I CRE-OO Total % of Total Real estate rental and leasing 311 350 661 15% Manufacturing 241 244 485 11% Retail trade 93 308 401 9% Other services (except public administration) 74 256 330 8% Wholesale trade 183 136 319 7% Finance and insurance 295 19 314 7% Health care and social assistance 55 227 282 6% Construction 157 96 253 6% Accommodation and food services 76 149 225 5% Information 184 13 197 5% Professional, scientific and technical services 133 63 196 5% Transportation and warehousing 86 90 176 4% Administrative and support and waste management and remediation services 76 35 111 3% Arts, entertainment and recreation 47 44 91 2% Other 171 119 290 7% Total $2,182 $2,149 $4,331 100% Land 23% Office 3% Other 13% Construction 14% Land 3%

11 Nashville 42% Memphis 8%Knoxville 3% Huntsville 6% Birmingham 12% Chattanooga 1% Other 9% Communities 19% Class A 26% Class B 42% Class C 11% Under $2 Million 21% Office exposure • Office loans as of 4Q25 – • Represent ~4% of total Loans HFI population • 99% of portfolio is pass rated and current • 19% of portfolio matures by year-end 2026 • 55% fixed rate & 45% floating rate • Continuous monitoring of office loans greater than $2 million shows minimal concerns • Projects generally characterized by 25-30% cash equity requirement, loan to value maximums of 70%-75% at origination, and requests for guarantors Geographic exposure Note: Data as of December 31, 2025. Data is only non-owner occupied CRE & C&D loans. Data excludes medical office buildings. Credit detail by class Class Outstanding ($mm) Avg. Balance ($mm) Wtd. Avg. LTV Wtd. Avg Occupancy Class A > $2 million $143.3 $9.6 49.7% 94.5% Class B > $2 million 234.6 5.7 63.7% 79.9% Class C > $2 million 64.3 5.8 64.1% 83.9% Total > $2 million $442.2 $6.6 59.2% 85.3% Total < $2 million 119.4 0.6 N/A N/A Total Office $561.6 $2.0 N/A N/A Exposure by class

12 Valuable deposit base Cost of deposits 18.9% 19.3% 19.2% 19.5% 18.9% 2.70% 2.54% 2.48% 2.53% 2.40% 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% 4Q24 1Q25 2Q25 3Q25 4Q25 Noninterest-bearing as % of total deposits Cost of total deposits (%) Deposits by customer segment ($billions) • Deposit growth during the period driven by an increase in core customer deposit balances • Partially offsetting were declines in non-core deposit categories, coupled with a seasonal decline in mortgage escrow balances • Cost of funds improvement driven by deposit repricing, spurred by the decline in benchmark interest rates Highlights Noninterest -bearing checking 19% Interest- bearing checking 19% Money market & savings 43% Time 19% 38% Checking accounts 4Q25 Deposit composition $4.9 $4.9 $4.8 $6.0 $6.1 $4.8 $4.7 $4.8 $6.0 $6.2 $1.6 $1.6 $1.8 $1.8 $1.7 $11.3 $11.2 $11.4 $13.8 $14.0 4Q24 1Q25 2Q25 3Q25 4Q25 Consumer Commercial Public Total

13 Asset Quality Metrics 0.69% 0.63% 0.76% 0.76% 0.80% 0.24% 0.21% 0.16% 0.13% 0.17% 0.93% 0.84% 0.92% 0.89% 0.97% 4Q24 1Q25 2Q25 3Q25 4Q25 Nonperforming Assets / Total Assets Other NPAs Optional GNMA repurchase • Modest provision expense in the quarter supported by low charge-offs and minimal change in modelled reserves • Nonperforming assets up 8 bps in the quarter due to – • Increase in past due balances in lower quartile consumer portfolios • Increase in balance of GNMA sold loans with optional repurchase right (accounted for as on-balance sheet) $152 $151 $149 $185 $186 1.58% 1.54% 1.51% 1.50% 1.50% 4Q24 1Q25 2Q25 3Q25 4Q25 Allowance for Credit Losses & Coverage Ratio ($ millions) ACL ACL Coverage Ratio 1Q3 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 Fourth Quarter 2025 Financial Supplement. Highlights 2 $7,084 $2,292 $5,337 $34,417 $1,232 0.47% 0.14% 0.02% 0.05% 0.05% 4Q24 1Q25 2Q25 3Q25 4Q25 Provision for Credit Losses & Net Charge Offs ($ thousands) Provision for Credit Losses NCO Ratio (ann.) 1

14 1.58% 0.99% 1.22% 0.88% 2.91% 1.61% 1.57% 1.82% 3.90% 1.50% 1.21% 1.18% 0.96% 2.33% 1.60% 1.78% 1.48% 3.35% 1.50% 1.11% 1.25% 1.01% 2.16% 1.64% 1.81% 1.43% 3.49% Gross Loans HFI Commercial & Industrial Non-Owner Occ CRE Owner Occ CRE Construction Multifamily 1-4 Family Mortgage 1-4 Family HELOC Consumer & Other 4Q24 3Q25 4Q25 Allowance Modeling & Reserve Allocation ACL on loans HFI / Loans HFI by category • 4Q economic conditions supported the use of the base case modelling scenario • Forecast inputs were mixed quarter to quarter – • Slight improvements in the CRE Price and National Housing Price indices • Unemployment and prime rate forecasts were slightly deteriorated • 1.50% ACL coverage ratio at period end Key forecast inputs1 1Q26 2Q26 3Q26 4Q26 National Unemployment Rate 4.4 4.6 4.7 4.8 CRE Price Index 1.3 1.4 1.5 1.6 National Housing Price Index 2.88 (0.05) (0.89) (0.05) Prime Rate 6.0 5.8 5.8 5.4 1 Source: Moody’s “November 2025 U.S. Macroeconomic Outlook Baseline Scenario”, with the exception of the National Housing Price Index which also incorporates components of the Mortgage Bankers Association Mortgage Finance Forecast, November 2025.

15 Capital & Liquidity Simple Capital Structure Common Equity Tier 1 Capital 86% Subordinated Notes 5% Tier 2 ACL 9% Total regulatory capital: $1,888 1 Non-GAAP financial measure; See "Use of non-GAAP Financial Measures” and Non-GAAP reconciliations herein. 2 4Q25 calculation is preliminary and subject to change. 3 Includes capacity from internal policy and does not include loans held at the REIT that could be pledged for additional capacity. On-balance sheet liquidity ($mm) $1,644 $1,498 $1,713 $1,890 $1,805 12.7% 11.6% 13.1% 11.9% 11.3% 4Q24 1Q25 2Q25 3Q25 4Q25 On-balance sheet liquidity On-balance sheet liquidity / tangible assets Capital Position 4Q24 3Q25 4Q25 Shareholder’s Equity/Assets 11.9% 12.2% 12.0% TCE/TA1 10.2% 10.1% 9.84% Common Equity Tier 12 12.8% 11.7% 11.4% Tier 1 Risk-Based2 13.1% 11.7% 11.4% Total Risk-Based2 15.2% 13.6% 13.2% AOCI Adjusted Ratios:1,2 Adj. Common Equity Tier 1 11.2% Adj. Total Risk-Based 13.1% 1 • Capital and liquidity levels remain strong and well-above required regulatory thresholds • Repurchased ~3% of outstanding shares through an $88 million share repurchase transaction with the Company’s largest shareholder • Securities portfolio makes up 9% of total assets and does not include any HTM securities • 4Q25 available sources of liquidity – • $1.8 billion on-balance sheet • $9.0 billion total other sources3

16 Mortgage results • Mortgage segment pre-tax net contribution of $2.4 million • Segment net interest income up $858 thousand due to widening spread on fixed rate portfolio vs funding rate • Mortgage banking income relatively flat with higher loan sale volumes offset by valuation adjustments on mortgage loans held for sale • Higher expenses driven by higher performance-based compensation costs in the period 2.71% 2.51% 2.86% 2.69% 2.97% 4Q24 1Q25 2Q25 3Q25 4Q25 Interest rate lock commitment volume ($mm) Mortgage gain on sale margin $258 $329 $402 $272 $279 $58 $53 $55 $72 $107 $316 $382 $457 $344 $386 4Q24 1Q25 2Q25 3Q25 4Q25 Purchase Refinance Highlights Mortgage Banking Segment ($ thousands) 4Q24 3Q25 4Q25 Total Revenue $ 12,274 $ 15,938 $ 16,827 Provision for loan losses (49) 347 436 Noninterest expense 12,170 12,887 13,992 Pre-tax net contribution after allocations 153 2,704 2,399 Total Assets 603,047 637,830 676,330 Efficiency Ratio 99.2% 80.9% 83.2% Core Efficiency Ratio1 99.2% 80.9% 83.2% 1 Non-GAAP financial measure; See "Use of non-GAAP Financial Measures” and Non-GAAP reconciliations herein.

17 Appendix

18 GAAP reconciliations and use of non-GAAP financial measures Adjusted net income and diluted earnings per share

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 pre-tax pre-provision net revenue

21 GAAP reconciliations and use of non-GAAP financial measures Adjusted tangible net income

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 Common Equity Tier 1 and Total Risk-Based capital ratios

25 GAAP reconciliations and use of non-GAAP financial measures Adjusted efficiency ratio (tax-equivalent basis)

26 GAAP reconciliations and use of non-GAAP financial measures Banking segment adjusted efficiency ratio (tax-equivalent)

27 GAAP reconciliations and use of non-GAAP financial measures Mortgage segment adjusted efficiency ratio (tax-equivalent)

28 GAAP reconciliations and use of non-GAAP financial measures Adjusted efficiency ratio (tax-equivalent basis)

29 GAAP reconciliations and use of non-GAAP financial measures Tangible assets, common equity and related measures

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 Adjusted return on average tangible common equity and related measures

32 GAAP reconciliations and use of non-GAAP financial measures Adjusted return on average assets, 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 and equity


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


Exhibit Number						Description of Exhibit
99.1						Earnings Release issued January 21, 2026
99.2						Financial Supplement for the quarter ended December 31, 2025
99.3						Earnings Presentation dated January 22, 2026
104						Cover Page Interactive Data File (formatted as inline XBRL document)


	FB FINANCIAL CORPORATION


	By:	/s/ Michael M. Mettee
		Michael M. Mettee
		Chief Financial Officer & Chief Operating Officer
		(Principal Financial Officer)
Date: January 21, 2026


☐			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))