STOCK TITAN
  1. Home
  2. SEC Filings
  3. FBK
  4. [8-K] FB Financial Corp Reports Material Event

FB Financial Q3 net income rises 157.5% to $60.2M

Loans held for investment grew 7.17% year over year, while net interest margin was 3.83%, down from 3.95%.

Filing Impact
(High)
Filing Sentiment

Sentiment and the balance of points

Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.

How Sentiment worksHow the balance works

Form Type
8-K

Rhea-AI Filing Summary

FB Financial Corp. reported third-quarter 2026 net income of $60.2 million, or $1.20 per diluted share, versus $23.4 million and $0.43 a year earlier. Adjusted net income was $60.9 million and adjusted diluted earnings per share were $1.21. Total revenue was $174.5 million, compared with $173.9 million a year earlier. Loans held for investment were $13.18 billion as of September 30, 2026, up 7.17% year over year and 9.68% annualized from the prior quarter; deposits were $14.67 billion, up 6.18% year over year and 8.82% annualized from the prior quarter.

Net interest margin was 3.83%, versus 3.95% in both the prior and year-earlier quarters. The company cited higher funding costs relative to earning-asset yields and a 3-basis-point impact from reversing $1.0 million of previously accrued interest on a nonaccrual loan. It repurchased 545,214 shares for $29.3 million and completed a $125.0 million subordinated debt issuance at 180 basis points over the five-year U.S. Treasury yield. Nonperforming loans were 1.18% of loans HFI, compared with 0.94% a year earlier; annualized net charge-offs were 0.04%.

1 point · 0 major

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

0 major · 0 points

How the balance works

Positive

  • Moderate pointNet income rose 157.5% year over year to $60.2 million.

Negative

  • None.

Insights

Analyzing...

Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 7.01 Regulation FD Disclosure Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Net income $60.2 million Third quarter 2026; up 157.5% year over year
Diluted earnings per common share $1.20 Third quarter 2026; up 179.1% year over year
Total revenue $174.5 million Third quarter 2026; up 0.35% year over year
Net interest margin 3.83% Third quarter 2026; 3.95% in Q2 2026 and Q3 2025
Loans held for investment $13.18 billion As of September 30, 2026; up 7.17% year over year
Total deposits $14.67 billion As of September 30, 2026; up 6.18% year over year
Shares repurchased 545,214 shares Third quarter 2026
Subordinated debt issuance $125.0 million Completed during the third quarter of 2026
Loans held for investment financial
"loans held for investment (“HFI”)"
Loans held for investment are loans a bank or lender plans to keep on its balance sheet and collect payments from, rather than sell to another party. Think of it like owning a rental property instead of flipping it: the owner expects steady income but also carries the risk that borrowers may stop paying, so investors watch this line to judge a lender’s interest income stability, credit quality, and liquidity needs.
Net interest margin financial
"Net interest margin (“NIM”) was 3.83%"
Net interest margin measures how much a bank earns from lending and investing compared with what it pays for funding, expressed as a percentage of its interest-earning assets. Think of it like a grocery store’s markup: it shows the gap between buying cost and selling price per dollar of goods — here, the cost is interest paid and the sale is interest received. Investors watch it because a higher margin usually means a bank is more profitable and better at managing interest rate and credit conditions.
Nonaccrual loan financial
"related to a nonaccrual loan"
A nonaccrual loan is a loan on which the lender has stopped recording interest income because the borrower is significantly past due or the lender doubts it will collect scheduled payments. It signals a problem with the borrower's ability to pay and is used by banks to avoid recognizing income they may not receive; like turning off a factory’s power when its output is unreliable, it directly affects a lender’s reported earnings and asset quality that investors monitor.
Subordinated debt financial
"a $125.0 million subordinated debt issuance"
Subordinated debt is a type of loan that is paid back after other debts have been settled if a company encounters financial trouble. It is considered riskier for lenders because they have lower priority in getting repaid, similar to being last in line during a payout. For investors, this means higher potential returns in exchange for taking on more risk.
Non-GAAP financial measure financial
"represents a non-GAAP financial measure"
A non-GAAP financial measure is a way companies present their financial results that excludes certain expenses or income to show how they believe their core business is performing. It matters because it can give a clearer picture of how the company is really doing, but it can also be used to make results look better than they actually are.
Net income applicable to FB Financial Corporation $60.2 million Up 157.5% year over year
Diluted earnings per common share $1.20 Up 179.1% year over year
Total revenue $174.5 million Up 0.35% year over year
Net interest income $149.9 million Up 1.84% year over year
Net interest margin (tax-equivalent basis) 3.83% 3.95% in Q2 2026 and Q3 2025
Loans held for investment $13.18 billion Up 7.17% year over year; up 9.68% annualized from the prior quarter
Total deposits $14.67 billion Up 6.18% year over year; up 8.82% annualized from the prior quarter

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were FBK's Q3 2026 earnings?
FB Financial reported net income of $60.2 million, or $1.20 per diluted share, in the third quarter of 2026. In the third quarter of 2025, net income was $23.4 million and diluted earnings per share were $0.43.

How many shares did FBK repurchase in Q3 2026?
FB Financial repurchased 545,214 shares for $29.3 million during the third quarter of 2026.

What was FBK's allowance for credit losses at Q3 2026?
The allowance for credit losses on loans held for investment was $194.0 million, or 1.47% of loans held for investment, at September 30, 2026. At the end of the prior quarter, it was $194.0 million, or 1.51% of loans held for investment.

What affected FBK's operating leverage in Q3 2026?
FB Financial's efficiency ratio was 55.0%, compared with 52.3% in the prior quarter. Management said operating leverage was affected by lower mortgage banking profitability, margin pressure, and continued investments in growth initiatives.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Understanding 8-K Material Events →
See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google
Add on Google
Available on EDGAR Accepted by SEC EDGAR
false000164974900016497492026-10-132026-10-13

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
   
FORM 8-K
 
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

Date of report (Date of earliest event reported): October 13, 2026
FB FINANCIAL CORPORATION
(Exact name of registrant as specified in its charter)

Tennessee001-3787562-1216058
(State or other jurisdiction
of incorporation)		(Commission File Number)(IRS Employer
Identification Number)
1221 Broadway, Suite 1300
Nashville, Tennessee 37203
(Address of principal executive offices) (Zip Code)

(615) 564-1212
(Registrant’s telephone number, including area code)

Not Applicable
(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions ( see General Instruction A.2. below):
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, $1.00 par valueFBKNew York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).  

Emerging growth company ☐ 

If  an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐




Item 2.02. Results of Operations and Financial Condition.

On October 13, 2026, FB Financial Corporation (“FB Financial”) issued a press release announcing its financial results for the third quarter ended September 30, 2026 (the “Earnings Release”). A copy of the Earnings Release is furnished as Exhibit 99.1 to this current report on Form 8-K (this “Report”).

Item 7.01. Regulation FD Disclosure.

On October 13, 2026, FB Financial will host a conference call to discuss financial results for the quarter ended September 30, 2026.

On October 13, 2026, FB Financial made available on its website (investors.firstbankonline.com) supplemental financial information for the third quarter ended September 30, 2026 (the “Financial Supplement”) and an earnings release presentation (the “Earnings Presentation”) containing additional information about FB Financial’s financial results for the quarter ended September 30, 2026.

Copies of the Financial Supplement and the Earnings Presentation are furnished as Exhibit 99.2 and Exhibit 99.3, respectively, to this Report and incorporated by reference in this Item 7.01.

The information contained in this Report, including Exhibit 99.1, Exhibit 99.2 and Exhibit 99.3 furnished herewith, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities under that section, nor shall it be deemed incorporated by reference into any registration statement or other documents pursuant to the Securities Act of 1933, as amended, or into any filing or other document pursuant to the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01. Financial Statements and Exhibits.

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


SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
 
FB FINANCIAL CORPORATION
By:/s/ Michael M. Mettee
Michael M. Mettee
Chief Financial Officer & Chief Operating Officer
(Principal Financial Officer)
Date: October 13, 2026



fb_suppa01.jpg
FB Financial Corporation Reports Third Quarter 2026 Financial Results
Reports Q3 Diluted EPS of $1.20, Adjusted Diluted EPS* of $1.21
Annualized Q3 Loan HFI and Deposit Growth of 9.7% and 8.8%, respectively
NASHVILLE, TENNESSEE—October 13, 2026—FB Financial Corporation (the “Company”) (NYSE: FBK), parent company of FirstBank, reported net income of $60.2 million, or $1.20 per diluted common share, for the third quarter of 2026, compared to $1.13 in the previous quarter and $0.43 in the third quarter of last year. Adjusted net income* was $60.9 million, or $1.21 per diluted common share, compared to $1.14 in the previous quarter and $1.07 in the third quarter of last year.
The Company ended the third quarter of 2026 with loans held for investment (“HFI”) of $13.18 billion compared to $12.87 billion at the end of the previous quarter, a 9.68% annualized increase, and $12.30 billion at the end of the third quarter of last year, a 7.17% increase. Deposits were $14.67 billion as of September 30, 2026, compared to $14.35 billion as of June 30, 2026, an 8.82% annualized increase, and $13.81 billion as of September 30, 2025, a 6.18% increase. Net interest margin (“NIM”) was 3.83% for the third quarter of 2026, compared to 3.95% in both the prior quarter and the third quarter of 2025. The Company ended the quarter with book value per common share of $39.11 and tangible book value per common share* of $31.50.
President and Chief Executive Officer, Christopher T. Holmes stated, “Our results reflect continued organic growth momentum and solid profitability metrics. Annualized loan growth (HFI) was 9.68% for the quarter, annualized client deposit growth was 11.0%, and annualized total deposit growth was 8.82% when we net out the decline in brokered deposits. We are encouraged by the quality of opportunities in front of us and the pipelines we see across the Company. In addition, our recent $125.0 million subordinated debt issuance provides added flexibility to support future growth. We remain focused on providing value to clients and creating long-term value for our shareholders.”
Annualized
(dollars in thousands, except per share data)Sep 2026Jun 2026Sep 2025Sep 26 / Jun 26
% Change		Sep 26 / Sep 25
% Change
Balance Sheet Highlights
     Investment securities, at fair value$1,543,889 $1,527,093 $1,428,401 4.36 %8.09 %
     Loans held for sale255,069 198,089 167,449 114.1 %52.3 %
     Loans HFI13,179,564 12,865,510 12,297,600 9.68 %7.17 %
     Allowance for credit losses on loans HFI(193,960)(194,010)(184,993)(0.10)%4.85 %
     Total assets17,093,991 16,796,101 16,236,459 7.04 %5.28 %
     Interest-bearing deposits (non-brokered)11,262,198 10,886,056 10,634,555 13.7 %5.90 %
     Brokered deposits626,687 685,902 487,765 (34.3)%28.5 %
     Noninterest-bearing deposits2,777,111 2,775,208 2,690,635 0.27 %3.21 %
     Total deposits14,665,996 14,347,166 13,812,955 8.82 %6.18 %
     Borrowings265,390 314,513 213,638 (62.0)%24.2 %
     Allowance for credit losses on unfunded
         commitments		16,116 15,859 17,392 6.43 %(7.34)%
     Total common shareholders’ equity1,933,646 1,936,531 1,978,043 (0.59)%(2.24)%
Book value per common share$39.11 $38.75 $37.00 3.69 %5.70 %
Tangible book value per common share*$31.50 $31.19 $29.83 3.94 %5.60 %
Total common shareholders’ equity to total assets11.3 %11.5 %12.2 %
Tangible common equity to tangible assets*9.32 %9.49 %10.1 %
*This represents a non-GAAP financial measure; A reconciliation of non-GAAP measures to the most directly comparable GAAP measure is included in the Company’s Third Quarter 2026 Financial Supplement as Exhibit 99.2 to the Company’s Current Report on Form 8-K furnished to the SEC on October 13, 2026, and is also available at https://investors.firstbankonline.com.
-MORE-
FB Financial Corporation
Third Quarter 2026 Results
Page 2
Three Months Ended
(dollars in thousands, except per share data)Sep 2026Jun 2026Sep 2025
Statement of Income Highlights
Net interest income$149,946 $148,972 $147,240 
      NIM (tax-equivalent basis)3.83 %3.95 %3.95 %
Noninterest income$24,540 $25,780 $26,635 
     (Loss) gain from securities, net$(241)$— $12 
     Loss on sales or write-downs of premises and equipment, other real estate
         owned and other assets, net		$(34)$(377)$(646)
Total revenue$174,486 $174,752 $173,875 
Noninterest expense$96,034 $91,480 $109,856 
Loan subservicer transition costs$719 $— $— 
(Gain) loss on lease terminations and other branch closure costs$— $(42)$270 
Merger and integration costs$— $— $16,057 
Efficiency ratio 55.0 %52.3 %63.2 %
      Adjusted efficiency ratio*54.3 %52.0 %53.3 %
Pre-tax pre-provision net revenue$78,452 $83,272 $64,019 
Adjusted pre-tax pre-provision net revenue*$79,446 $83,607 $80,980 
Provisions for credit losses$1,424 $10,116 $34,417 
Net charge-offs ratio0.04 %0.06 %0.05 %
Net income applicable to FB Financial Corporation$60,202 $58,649 $23,375 
Diluted earnings per common share$1.20 $1.13 $0.43 
       Effective tax rate21.8 %19.8 %21.0 %
Adjusted net income*$60,937 $58,905 $57,606 
Adjusted diluted earnings per common share*$1.21 $1.14 $1.07 
Weighted average number of shares outstanding - fully diluted50,286,830 51,693,688 53,957,062 
Returns on average:
     Return on average assets (“ROAA”)
1.43 %1.44 %0.58 %
         Adjusted*1.44 %1.45 %1.43 %
     Return on average shareholders’ equity12.2 %11.8 %4.69 %
     Return on average tangible common equity (“ROATCE”)*
15.2 %14.6 %5.82 %
Adjusted*15.7 %15.0 %14.7 %
*This represents a non-GAAP financial measure; A reconciliation of non-GAAP measures to the most directly comparable GAAP measure is included in the Company’s Third Quarter 2026 Financial Supplement as Exhibit 99.2 to the Company’s Current Report on Form 8-K furnished to the SEC on October 13, 2026, and is also available at https://investors.firstbankonline.com.
Balance Sheet and Net Interest Margin
The Company reported loans HFI of $13.18 billion at the end of the third quarter of 2026, compared to $12.87 billion at the end of the prior quarter. The contractual yield on loans HFI remained stable at 6.21% for the third quarter of 2026 compared to 6.22% for the previous quarter. Net loan growth was driven by increases in residential real estate loans, including growth of $133.6 million in 1-to-4 family mortgage loans, $41.6 million in multi-family mortgage loans, and $10.0 million in residential lines of credit. Commercial real estate loans increased $91.6 million, while construction loans and consumer and other loans increased by $19.5 million and $19.0 million, respectively.
The Company reported total deposits of $14.67 billion at the end of the third quarter compared to $14.35 billion at the end of the second quarter. The cost of interest-bearing deposits increased to 2.88% from 2.81% in the previous quarter. Total cost of deposits increased to 2.32% during the third quarter compared to 2.26% in the second quarter of 2026. Higher costs were driven primarily by increased pricing on interest-bearing deposits and continued deposit growth during the quarter. Noninterest-bearing deposits were $2.78 billion for both the third quarter of 2026 and the previous quarter.
The Company reported net interest income on a tax-equivalent basis of $150.8 million for the third quarter of 2026, an increase from $149.8 million in the prior quarter. NIM decreased to 3.83% for the third quarter from 3.95% in the prior quarter, reflecting higher funding costs relative to earning asset yields during the quarter. The decline in NIM also included a 3 basis point impact from the reversal of $1.0 million of previously accrued interest related to a nonaccrual loan. Net accretion from purchase accounting adjustments contributed 11 basis points to margin during the third quarter compared to 13 basis points in the prior quarter.
Holmes continued, “Our balance sheet continues to be shaped by long-term client relationships and a relationship-based approach to banking. That client-driven foundation provides stability, flexibility and the capacity to pursue opportunities across our markets. We are encouraged by the activity we see throughout our footprint and by the value we are creating by growing our client base.”
-MORE-
FB Financial Corporation
Third Quarter 2026 Results
Page 3
Noninterest Income
Noninterest income was $24.5 million for the third quarter of 2026, compared to $25.8 million in the prior quarter and $26.6 million in the third quarter of 2025. Adjusted noninterest income* was $24.8 million for the third quarter of 2026, compared to $26.2 million and $27.3 million for the prior quarter and the third quarter of 2025, respectively.
Mortgage banking income was $9.4 million in the third quarter of 2026, compared to $11.2 million in the prior quarter and $13.5 million in the third quarter of 2025.
Noninterest Expense
Noninterest expense was $96.0 million during the third quarter of 2026 compared to $91.5 million in the prior quarter and $109.9 million in the third quarter of 2025. Adjusted noninterest expense* was $95.3 million, compared to $91.5 million and $93.5 million in the prior quarter and third quarter of 2025, respectively. The Company's efficiency ratio was 55.0%, compared to 52.3% in the prior quarter and 63.2% in the third quarter of 2025, while the adjusted efficiency ratio* was 54.3%, compared to 52.0% and 53.3%, respectively.
Chief Financial Officer and Chief Operating Officer, Michael Mettee commented, “The third quarter reflected continued momentum in loan and deposit production and meaningful balance sheet growth. Operating leverage was impacted by lower mortgage banking profitability, margin pressure and our continued investments in growth initiatives. We remain focused on disciplined expense management and believe the investments we are making today position us to deliver improved earnings growth and operating leverage over time.”
Credit Quality
In the third quarter, the Company recorded provision expense of $1.2 million related to loans HFI and $0.3 million associated with unfunded loan commitments. At the end of the third quarter of 2026, the Company had an allowance for credit losses on loans HFI of $194.0 million, representing 1.47% of loans HFI compared to $194.0 million, or 1.51% of loans HFI, at the end of the prior quarter.
The Company had net charge-offs of $1.2 million in the third quarter of 2026, representing annualized net charge-offs of 0.04% of average loans HFI, compared to 0.06% in the prior quarter and 0.05% in the third quarter of 2025.
The Company’s nonperforming loans HFI as a percentage of total loans HFI were 1.18% as of the end of the third quarter of 2026, compared to 1.17% in the prior quarter and 0.94% in the third quarter of 2025. Nonperforming assets as a percentage of total assets were 1.13% as of the end of the third quarter of 2026, compared to 1.14% as of the end of the prior quarter and 0.89% as of the end of the third quarter of 2025.
Holmes commented, “Overall credit performance remained strong during the third quarter, with stable asset quality metrics and low net charge-offs. Our consistent approach to underwriting and portfolio management continues to support favorable credit outcomes. Our reserve position and strong credit culture provide a solid foundation to support continued growth while prudently managing risk.”
Capital
The Company maintained its strong capital position in the third quarter, resulting in a preliminary total risk-based capital ratio of 13.6%, preliminary common equity tier 1 ratio of 11.0% and tangible common equity to tangible assets ratio* of 9.32%. The Company repurchased 545,214 shares during the quarter.
Holmes continued, “We remain disciplined in deploying capital while delivering attractive returns to shareholders. During the quarter, we completed a $125.0 million subordinated debt issuance at a spread of 180 basis points over the five-year U.S. Treasury yield, reflecting strong investor demand and confidence in our long-term strategy. We also repurchased $29.3 million of common stock during the quarter, returning capital to shareholders while also maintaining ample capital for financial flexibility. Together, these actions reinforce our commitment to long-term shareholder value.”
Summary
Holmes concluded, “We are pleased with the Company’s growth rate and profitability levels, especially relative to firms similar to ours. Our results reflect the strength of our client relationships, the commitment of our associates and the attractive markets we serve. We are encouraged by the opportunities in front of us and confident in our ability to continue supporting our customers and communities. As we look ahead, our focus remains on growing the franchise and creating long-term shareholder value.”



-MORE-
FB Financial Corporation
Third Quarter 2026 Results
Page 4
WEBCAST AND CONFERENCE CALL INFORMATION
FB Financial Corporation will host a conference call to discuss the Company’s financial results on October 13, 2026, at 8:00 a.m. (Central Time). To listen to the call, participants should dial 1-877-883-0383 (confirmation code 2443338) approximately 10 minutes prior to the call. A telephonic replay will be available approximately two hours after the call through October 20, 2026, by dialing 1-855-669-9658 and entering confirmation code 8724700.
A live online broadcast of the Company’s quarterly conference call will be available online at https://event.choruscall.com/mediaframe/webcast.html?webcastid=T6DGcoVU. An online replay will be available on the Company’s website approximately two hours after the conclusion of the call and will remain available for 12 months.
ABOUT FB FINANCIAL CORPORATION
FB Financial Corporation (NYSE: FBK) is a financial holding company headquartered in Nashville, Tennessee. FB Financial Corporation operates through its wholly owned banking subsidiary, FirstBank, in Tennessee, Kentucky, Alabama, Georgia and North Carolina. FB Financial Corporation has approximately $17.1 billion in total assets and operates 91 full-service bank branches across its footprint.
MEDIA CONTACT:
FINANCIAL CONTACT:
Keith HancockMichael Mettee
404-310-2368615-435-0952
keith.hancock@firstbankonline.commmettee@firstbankonline.com
www.firstbankonline.com
investorrelations@firstbankonline.com
SUPPLEMENTAL FINANCIAL INFORMATION AND EARNINGS PRESENTATION
Investors are encouraged to review this Earnings Release in conjunction with the Third Quarter 2026 Financial Supplement and Earnings Presentation posted on the Company’s website, which can be found at https://investors.firstbankonline.com. This Earnings Release, the Third Quarter 2026 Financial Supplement and the Earnings Presentation are also included with a Current Report on Form 8-K that the Company furnished to the U.S. Securities and Exchange Commission (“SEC”) on October 13, 2026.
FORWARD-LOOKING STATEMENTS
Certain statements contained in this Earnings Release that are not historical in nature may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements represent the Company’s current expectations, plans or forecasts of its or its business segments’ future results, which may include, among other measures, revenue, liquidity, net interest income, other income, provision for credit losses, expenses, operating leverage, effective tax rate, efficiency ratio, capital measures, deposits and assets, as well as strategy, future business and economic conditions more generally, and other future matters. These statements can generally be identified by the use of the words and phrases “may,” “will,” “should,” “could,” “would,” “goal,” “plan,” “potential,” “estimate,” “project,” “believe,” “intend,” “anticipate,” “expect,” “target,” “aim,” “predict,” “continue,” “seek,” and other variations of such words and phrases and similar expressions. These forward-looking statements are not historical facts, and are based upon management’s current expectations, estimates, and projections, many of which, by their nature, are inherently uncertain and beyond the Company’s control. The inclusion of these forward-looking statements should not be regarded as a representation by the Company or any other person that such expectations, estimates, and projections will be achieved. Accordingly, the Company cautions shareholders and investors that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions, and uncertainties that are difficult to predict. Actual results may prove to be materially different from the results expressed or implied by the forward-looking statements. A number of factors could cause actual results to differ materially from those contemplated by the forward-looking statements including, without limitation, (1) current and future economic conditions, including the effects of inflation, interest rate fluctuations, changes in the economy or global supply chain, supply-demand imbalances affecting local real estate prices, and high unemployment rates in the local or regional economies in which the Company operates and/or the US economy generally, (2) changes or the lack of changes in government interest rate policies and the associated impact on the Company’s business, net interest margin, funding costs, and mortgage operations, (3) increased competition for loans and deposits and the Company’s ability to sustain loan and deposit growth, (4) changes in the quality or composition of the Company’s loan or investment portfolios, including adverse developments in borrower industries or in the repayment ability of individual borrowers or issuers of investment securities, the impact of interest rates on the value of the Company’s investment securities portfolio, or the adequacy of the Company’s allowance for credit losses, (5) any deterioration in commercial real estate market fundamentals, (6) the Company’s ability to identify potential candidates for, consummate, and achieve synergies from acquisitions, including risks that cost savings and other synergies from completed or future acquisitions may not be realized (or may be less than or delayed from expectations), challenges in integrating acquired businesses, disruptions to customer, employee, or other relationships, diversion of management attention, and the ability to effectively manage larger or more complex operations post-
-MORE-
FB Financial Corporation
Third Quarter 2026 Results
Page 5
transaction, (7) the Company’s ability to manage any unexpected outflows of uninsured deposits and to avoid selling investment securities or other assets at an unfavorable time or at a loss, (8) the Company’s ability to successfully execute its various business strategies, including its investments in talent and growth initiatives and the effect of those investments on expenses and operating leverage, (9) changes in state and federal legislation, regulations or policies applicable to banks and other financial service providers, and changes in accounting standards, (10) the effectiveness of the Company’s controls and procedures to detect, prevent, mitigate and otherwise manage the risk of fraud or misconduct by internal or external parties, including attempted physical-security and cybersecurity attacks, denial-of-service attacks, hacking, phishing, social-engineering attacks, malware intrusion, data-corruption attempts, system breaches, identity theft, ransomware attacks, environmental conditions, and intentional acts of destruction, (11) the Company’s dependence on information technology systems of third-party service providers and the risk of systems failures, interruptions, or breaches of security, (12) the impact, extent and timing of technological changes, including the adoption and use of artificial intelligence and other emerging technologies, (13) concentrations of credit or deposit exposure, (14) the impact of natural disasters, pandemics, acts or escalation of war or acts of terrorism, or other catastrophic events, (15) events giving rise to international or regional political instability, including the broader impacts of such events on financial markets and/or global macroeconomic environments, (16) the Company’s ability to attract and retain key employees in a competitive labor market, (17) the Company’s ability to access capital and liquidity on terms acceptable to the Company, to effectively deploy capital, including the proceeds of its recent subordinated debt issuance, and the amount and timing of any future share repurchases, (18) changes to the Company’s preliminary regulatory capital ratios as they are finalized, and/or (19) general competitive, economic, political, and market conditions. Further information regarding the Company and factors which could affect the forward-looking statements contained herein can be found in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, and in any of the Company’s subsequent filings with the SEC. Many of these factors are beyond the Company’s ability to control or predict. If one or more events related to these or other risks or uncertainties materialize, or if the underlying assumptions prove to be incorrect, actual results may differ materially from the forward-looking statements. Accordingly, shareholders and investors should not place undue reliance on any such forward-looking statements. Any forward-looking statement speaks only as of the date of this Earnings Release, and the Company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law. New risks and uncertainties may emerge from time to time, and it is not possible for the Company to predict their occurrence or how they will affect the Company.
The Company qualifies all forward-looking statements by these cautionary statements.
GAAP RECONCILIATION AND USE OF NON-GAAP FINANCIAL MEASURES
This Earnings Release contains certain financial measures that are not measures recognized under U.S. generally accepted accounting principles (“GAAP”) and therefore are considered non-GAAP financial measures. These non-GAAP financial measures may include, without limitation, adjusted net income, adjusted diluted earnings per common share, adjusted pre-tax pre-provision net revenue, consolidated and segment adjusted revenue, consolidated and segment adjusted noninterest expense and adjusted noninterest income, consolidated and segment adjusted efficiency ratio (tax-equivalent basis), and adjusted return on average assets and equity. Each of these non-GAAP metrics excludes certain income and expense items that the Company’s management considers to be adjusted in nature. The Company refers to these non-GAAP measures as adjusted measures. Also, the Company presents tangible assets, tangible common equity, tangible book value per common share, tangible common equity to tangible assets, return on average tangible common equity, and adjusted return on average tangible common equity. Each of these non-GAAP metrics excludes the impact of goodwill and other intangibles.
The Company’s management uses these non-GAAP financial measures in their analysis of the Company’s performance, financial condition and the efficiency of its operations as management believes such measures facilitate period-to-period comparisons and provide meaningful indications of the Company’s operating performance as they eliminate both gains and charges that management views as non-recurring or not indicative of operating performance. Management believes that these non-GAAP financial measures provide a greater understanding of ongoing operations and enhance comparability of results with prior periods as well as demonstrate the effects of significant gains and charges excluded from the adjusted measures in the current and prior periods. The Company’s management also believes that investors find these non-GAAP financial measures useful as they assist investors in understanding the Company’s underlying operating performance and in the analysis of ongoing operating trends. In addition, because intangible assets such as goodwill and the other items excluded each vary extensively from company to company, the Company believes that the presentation of this information allows investors to more easily compare the Company’s results to the results of other companies. However, the non-GAAP financial measures discussed herein should not be considered in isolation or as a substitute for the most directly comparable or other financial measures calculated in accordance with GAAP. Moreover, the manner in which the Company calculates the non-GAAP financial measures discussed herein may differ from that of other companies reporting measures with similar names. Investors should understand how such other banking organizations calculate their financial measures with names similar to the non-GAAP financial measures the Company has discussed herein when comparing such non-GAAP financial measures.
-MORE-
FB Financial Corporation
Third Quarter 2026 Results
Page 6
A reconciliation of these non-GAAP measures to the most directly comparable GAAP financial measures is included in the Company’s Third Quarter 2026 Financial Supplement as Exhibit 99.2 to the Company’s Current Report on Form 8-K furnished to the SEC on October 13, 2026 and is also available at https://investors.firstbankonline.com.
-MORE-
FB Financial Corporation
Third Quarter 2026 Results
Page 7
Financial Summary and Key Metrics
(Unaudited)
(dollars in thousands, except per share data)
As of or for the Three Months Ended
Sep 2026Jun 2026Sep 2025
Selected Balance Sheet Data
Cash and cash equivalents$1,017,689 $1,112,357 $1,280,033 
Investment securities, at fair value1,543,889 1,527,093 1,428,401 
Loans held for sale255,069 198,089 167,449 
Loans HFI13,179,564 12,865,510 12,297,600 
Allowance for credit losses on loans HFI(193,960)(194,010)(184,993)
Total assets17,093,991 16,796,101 16,236,459 
Interest-bearing deposits (non-brokered)11,262,198 10,886,056 10,634,555 
Brokered deposits626,687 685,902 487,765 
Noninterest-bearing deposits2,777,111 2,775,208 2,690,635 
Total deposits14,665,996 14,347,166 13,812,955 
Borrowings265,390 314,513 213,638 
Allowance for credit losses on unfunded commitments16,116 15,859 17,392 
Total common shareholders’ equity1,933,646 1,936,531 1,978,043 
Selected Statement of Income Data
Total interest income$236,107 $229,438 $236,898 
Total interest expense86,161 80,466 89,658 
Net interest income149,946 148,972 147,240 
Total noninterest income24,540 25,780 26,635 
Total noninterest expense96,034 91,480 109,856 
Earnings before income taxes and provisions for credit losses78,452 83,272 64,019 
Provisions for credit losses1,424 10,116 34,417 
Income tax expense 16,826 14,499 6,227 
Net income applicable to noncontrolling interest— 8 — 
Net income applicable to FB Financial Corporation$60,202 $58,649 $23,375 
Net interest income (tax-equivalent basis)$150,807 $149,788 $148,088 
Adjusted net income*$60,937 $58,905 $57,606 
Adjusted pre-tax, pre-provision net revenue*$79,446 $83,607 $80,980 
Per Common Share
Diluted net income$1.20 $1.13 $0.43 
Adjusted diluted net income*1.21 1.14 1.07 
Book value39.11 38.75 37.00 
Tangible book value*31.50 31.19 29.83 
Weighted average number of shares outstanding - fully diluted50,286,830 51,693,688 53,957,062 
Period-end number of shares 49,443,360 49,976,755 53,456,522 
Selected Ratios
Return on average:
Assets1.43 %1.44 %0.58 %
Shareholders’ equity12.2 %11.8 %4.69 %
Tangible common equity*15.2 %14.6 %5.82 %
Efficiency ratio 55.0 %52.3 %63.2 %
Adjusted efficiency ratio (tax-equivalent basis)*54.3 %52.0 %53.3 %
Loans HFI to deposit ratio89.9 %89.7 %89.0 %
Noninterest-bearing deposits to total deposits 18.9 %19.3 %19.5 %
Net interest margin (tax-equivalent basis)3.83 %3.95 %3.95 %
Yield on interest-earning assets6.02 %6.07 %6.35 %
Cost of interest-bearing liabilities2.91 %2.84 %3.21 %
Cost of total deposits2.32 %2.26 %2.53 %
Credit Quality Ratios
Allowance for credit losses on loans HFI as a percentage of loans HFI1.47 %1.51 %1.50 %
Annualized net charge-offs as a percentage of average loans HFI0.04 %0.06 %0.05 %
Nonperforming loans HFI as a percentage of loans HFI1.18 %1.17 %0.94 %
Nonperforming assets as a percentage of total assets
1.13 %1.14 %0.89 %
Preliminary Capital Ratios (consolidated)
Total common shareholders’ equity to assets11.3 %11.5 %12.2 %
Tangible common equity to tangible assets*9.32 %9.49 %10.1 %
Tier 1 leverage10.0 %10.1 %10.6 %
Tier 1 risk-based capital
11.0 %11.0 %11.7 %
Total risk-based capital
13.6 %12.9 %13.6 %
Common equity Tier 1
11.0 %11.0 %11.7 %
*This represents a non-GAAP financial measure; A reconciliation of non-GAAP measures to the most directly comparable GAAP measure is included in the Company’s Third Quarter 2026 Financial Supplement as Exhibit 99.2 to the Company’s Current Report on Form 8-K furnished to the SEC on October 13, 2026, and is also available at https://investors.firstbankonline.com.
-END-




















logoa07a.jpg

 
 
Third Quarter 2026
Financial Supplement



Current-period information is preliminary and based on company data available at the time of the earnings presentation. It speaks only as of the particular date or dates included in the accompanying pages. FB Financial Corporation (FB Financial) does not undertake an obligation to, and disclaims any duty to, update any of the information provided. Any forward-looking statements in this information are subject to the forward-looking language contained in FB Financial’s reports filed with the SEC pursuant to the Securities Exchange Act of 1934, which are available at the SEC’s website (www.sec.gov*) or at FB Financial’s website (https://investors.firstbankonline.com *). FB Financial’s future financial performance is subject to risks and uncertainties as described in its SEC filings.

* Website content is not incorporated by reference into this Financial Supplement.


TABLE OF CONTENTS
 
Page
Financial Summary and Key Metrics
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 does not consider indicative of the Company's ongoing operating performance. The Company refers to these non-GAAP measures as adjusted measures. Also, the Company presents tangible assets, tangible common equity, tangible book value per common share, tangible common equity to tangible assets, on-balance sheet liquidity to tangible assets, return on average tangible common equity, and adjusted return on average tangible common equity. Each of these non-GAAP metrics excludes the impact of goodwill and other intangibles.
The Company’s management uses these non-GAAP financial measures in their analysis of the Company’s performance, financial condition and the efficiency of its operations as management believes such measures facilitate period-to-period comparisons and provide meaningful indications of the Company’s operating performance as they eliminate both gains and charges that management views as non-recurring or not indicative of operating performance. Management believes that these non-GAAP financial measures provide a greater understanding of ongoing operations and enhance comparability of results with prior periods as well as demonstrate the effects of significant gains and charges excluded from the adjusted measures in the current and prior periods. The Company’s management also believes that investors find these non-GAAP financial measures useful as they assist investors in understanding the Company’s underlying operating performance and in the analysis of ongoing operating trends. In addition, because intangible assets such as goodwill and the other items excluded each vary extensively from company to company, the Company believes that the presentation of this information allows investors to more easily compare the Company’s results to the results of other companies. However, the non-GAAP financial measures discussed herein should not be considered in isolation or as a substitute for the most directly comparable or other financial measures calculated in accordance with GAAP. Moreover, the manner in which the Company calculates the non-GAAP financial measures discussed herein may differ from that of other companies reporting measures with similar names. Investors should understand how such other banking organizations calculate their financial measures with names similar to the non-GAAP financial measures the Company has discussed herein when comparing such non-GAAP financial measures. See the corresponding non-GAAP reconciliation tables below in this Financial Supplement for additional discussion and reconciliation of these measures to the most directly comparable GAAP financial measures.


Financial Summary and Key Metrics
(Unaudited)
(Dollars in Thousands, Except Per Share Data)
As of or for the Three Months Ended
Sep 2026Jun 2026Mar 2026Dec 2025Sep 2025
Selected Balance Sheet Data
Cash and cash equivalents$1,017,689 $1,112,357 $1,157,763 $1,155,895 $1,280,033 
Investment securities, at fair value1,543,889 1,527,093 1,498,547 1,459,734 1,428,401 
Loans held for sale255,069 198,089 231,359 201,076 167,449 
Loans HFI13,179,564 12,865,510 12,503,815 12,383,626 12,297,600 
Allowance for credit losses on loans HFI(193,960)(194,010)(186,324)(185,983)(184,993)
Total assets17,093,991 16,796,101 16,468,439 16,300,292 16,236,459 
Interest-bearing deposits (non-brokered)11,262,198 10,886,056 10,838,139 10,649,932 10,634,555 
Brokered deposits626,687 685,902 574,216 625,634 487,765 
Noninterest-bearing deposits2,777,111 2,775,208 2,664,480 2,634,395 2,690,635 
Total deposits14,665,996 14,347,166 14,076,835 13,909,961 13,812,955 
Borrowings265,390 314,513 213,188 212,764 213,638 
Allowance for credit losses on unfunded commitments16,116 15,859 15,398 16,196 17,392 
Total common shareholders' equity1,933,646 1,936,531 1,973,873 1,948,165 1,978,043 
Selected Statement of Income Data
Total interest income$236,107 $229,438 $225,350 $235,238 $236,898 
Total interest expense86,161 80,466 79,385 85,434 89,658 
Net interest income149,946 148,972 145,965 149,804 147,240 
Total noninterest income 24,540 25,780 26,375 28,795 26,635 
Total noninterest expense96,034 91,480 95,164 107,548 109,856 
Earnings before income taxes and provisions for credit
   losses		78,452 83,272 77,176 71,051 64,019 
Provisions for credit losses1,424 10,116 3,024 1,232 34,417 
Income tax expense 16,826 14,499 16,626 12,834 6,227 
Net income applicable to noncontrolling interest— 8 — 8 — 
Net income applicable to FB Financial Corporation$60,202 $58,649 $57,526 $56,977 $23,375 
Net interest income (tax-equivalent basis)$150,807 $149,788 $146,774 $150,642 $148,088 
Adjusted net income*$60,937 $58,905 $58,271 $61,494 $57,606 
Adjusted pre-tax, pre-provision net revenue*$79,446 $83,607 $78,184 $77,118 $80,980 
Per Common Share
Diluted net income$1.20 $1.13 $1.10 $1.07 $0.43 
Adjusted diluted net income*1.21 1.14 1.12 1.16 1.07 
Book value39.11 38.75 38.39 37.64 37.00 
Tangible book value*31.50 31.19 31.00 30.27 29.83 
Weighted average number of shares outstanding - fully diluted50,286,830 51,693,688 52,203,469 53,074,753 53,957,062 
Period-end number of shares 49,443,360 49,976,755 51,418,024 51,752,401 53,456,522 
Selected Ratios
Return on average:
Assets1.43 %1.44 %1.43 %1.40 %0.58 %
Shareholders’ equity12.2 %11.8 %11.9 %11.6 %4.69 %
Tangible common equity*15.2 %14.6 %14.7 %14.4 %5.82 %
Efficiency ratio 55.0 %52.3 %55.2 %60.2 %63.2 %
Adjusted efficiency ratio (tax-equivalent basis)*54.3 %52.0 %54.3 %56.3 %53.3 %
Loans HFI to deposit ratio89.9 %89.7 %88.8 %89.0 %89.0 %
Noninterest-bearing deposits to total deposits 18.9 %19.3 %18.9 %18.9 %19.5 %
Net interest margin (NIM) (tax-equivalent basis)3.83 %3.95 %3.94 %3.98 %3.95 %
Yield on interest-earning assets6.02 %6.07 %6.07 %6.23 %6.35 %
Cost of interest-bearing liabilities2.91 %2.84 %2.83 %3.02 %3.21 %
Cost of total deposits2.32 %2.26 %2.27 %2.40 %2.53 %
Credit Quality Ratios
Allowance for credit losses on loans HFI as a percentage of loans HFI1.47 %1.51 %1.49 %1.50 %1.50 %
Annualized net charge-offs as a percentage of average loans HFI0.04 %0.06 %0.11 %0.05 %0.05 %
Nonperforming loans HFI as a percentage of loans HFI1.18 %1.17 %0.96 %0.97 %0.94 %
Nonperforming assets as a percentage of total assets1.13 %1.14 %0.98 %0.97 %0.89 %
Preliminary Capital Ratios (consolidated)
Total common shareholders’ equity to assets11.3 %11.5 %12.0 %12.0 %12.2 %
Tangible common equity to tangible assets*9.32 %9.49 %9.91 %9.84 %10.1 %
Tier 1 leverage10.0 %10.1 %10.4 %10.3 %10.6 %
Tier 1 risk-based capital 11.0 %11.0 %11.5 %11.4 %11.7 %
Total risk-based capital 13.6 %12.9 %13.4 %13.2 %13.6 %
Common equity Tier 1 11.0 %11.0 %11.5 %11.4 %11.7 %
*This represents a non-GAAP financial measure; See “Use of non-GAAP Financial Measures”and non-GAAP reconciliations herein.
FB Financial Corporation
4

Consolidated Statements of Income
(Unaudited)
(Dollars in Thousands, Except Per Share Data)
Sep 2026Sep 2026
vs.vs.
Three Months EndedJun 2026Sep 2025
Sep 2026Jun 2026Mar 2026Dec 2025Sep 2025Percent variance Percent variance
Interest income:
Interest and fees on loans$212,308 $206,434 $201,257 $209,734 $209,307 2.85 %1.43 %
Interest on investment securities
Taxable14,289 13,804 13,575 14,380 14,395 3.51 %(0.74)%
Tax-exempt1,067 1,066 1,054 1,058 1,058 0.09 %0.85 %
Other8,443 8,134 9,464 10,066 12,138 3.80 %(30.4)%
Total interest income236,107 229,438 225,350 235,238 236,898 2.91 %(0.33)%
Interest expense:
Deposits84,406 78,768 77,878 83,813 86,577 7.16 %(2.51)%
Borrowings1,755 1,698 1,507 1,621 3,081 3.36 %(43.0)%
Total interest expense86,161 80,466 79,385 85,434 89,658 7.08 %(3.90)%
Net interest income149,946 148,972 145,965 149,804 147,240 0.65 %1.84 %
Provision for credit losses on loans HFI1,167 9,655 3,822 2,428 29,957 (87.9)%(96.1)%
Provision for (reversal of) credit losses on unfunded
   commitments		257 461 (798)(1,196)4,460 (44.3)%(94.2)%
Net interest income after provisions for credit
   losses		148,522 138,856 142,941 148,572 112,823 6.96 %31.6 %
Noninterest income:
Mortgage banking income9,425 11,170 12,253 13,505 13,484 (15.6)%(30.1)%
Investment services and trust income4,931 4,517 4,348 4,473 4,227 9.17 %16.7 %
Service charges on deposit accounts4,484 4,468 4,376 4,184 4,049 0.36 %10.7 %
ATM and interchange fees3,262 3,274 2,977 3,146 3,388 (0.37)%(3.72)%
(Loss) gain from securities, net(241)— 1 64 12 NM(2,108.3)%
Loss on sales or write-downs of premises and
   equipment, other real estate owned and other assets, net
(34)(377)(320)(131)(646)(91.0)%(94.7)%
Other income2,713 2,728 2,740 3,554 2,121 (0.55)%27.9 %
Total noninterest income24,540 25,780 26,375 28,795 26,635 (4.81)%(7.87)%
Total revenue174,486 174,752 172,340 178,599 173,875 (0.15)%0.35 %
Noninterest expenses:
Salaries, commissions and employee benefits56,054 53,332 57,348 63,529 59,210 5.10 %(5.33)%
Occupancy and equipment expense7,576 7,617 7,476 7,239 7,539 (0.54)%0.49 %
Advertising3,013 2,556 2,148 2,464 2,453 17.9 %22.8 %
Data processing 2,562 2,352 2,454 2,809 2,457 8.93 %4.27 %
Legal and professional fees2,046 1,882 1,980 2,503 1,227 8.71 %66.7 %
Amortization of core deposits and other intangibles1,741 1,804 1,869 1,932 2,079 (3.49)%(16.3)%
Merger and integration costs— — 1,447 4,611 16,057 — %(100.0)%
Other expense23,042 21,937 20,442 22,461 18,834 5.04 %22.3 %
Total noninterest expense96,034 91,480 95,164 107,548 109,856 4.98 %(12.6)%
Income before income taxes77,028 73,156 74,152 69,819 29,602 5.29 %160.2 %
Income tax expense16,826 14,499 16,626 12,834 6,227 16.0 %170.2 %
Net income applicable to FB Financial
Corporation and noncontrolling interest
60,202 58,657 57,526 56,985 23,375 2.63 %157.5 %
Net income applicable to noncontrolling interest— 8 — 8 — (100.0)%— %
Net income applicable to FB Financial
Corporation
$60,202 $58,649 $57,526 $56,977 $23,375 2.65 %157.5 %
Weighted average common shares outstanding:
Basic49,929,920 51,358,070 51,724,458 52,621,950 53,627,997 (2.78)%(6.90)%
Fully diluted50,286,830 51,693,688 52,203,469 53,074,753 53,957,062 (2.72)%(6.80)%
Earnings per common share:
Basic$1.21 $1.14 $1.11 $1.08 $0.44 6.14 %175.0 %
Fully diluted1.20 1.13 1.10 1.07 0.43 6.19 %179.1 %
Fully diluted - adjusted*1.21 1.14 1.12 1.16 1.07 6.14 %13.1 %
*This represents a non-GAAP financial measure; See “Use of non-GAAP Financial Measures”and non-GAAP reconciliations herein.
NM- Not meaningful




FB Financial Corporation
5

Consolidated Statements of Income
(Unaudited)
(Dollars in Thousands, Except Per Share Data)
Sep 2026
vs.
Nine Months EndedSep 2025
Sep 2026Sep 2025Percent variance
Interest income:
Interest and fees on loans$619,999 $522,189 18.7 %
Interest on investment securities
Taxable41,668 43,527 (4.27)%
Tax-exempt3,187 3,127 1.92 %
Other26,041 29,845 (12.7)%
Total interest income690,895 598,688 15.4 %
Interest expense:
Deposits241,052 225,394 6.95 %
Borrowings4,960 6,998 (29.1)%
Total interest expense246,012 232,392 5.86 %
Net interest income444,883 366,296 21.5 %
Provision for credit losses on loans HFI14,644 30,761 (52.4)%
(Reversal of) provision for credit losses on unfunded commitments(80)11,285 (100.7)%
Net interest income after provisions for credit losses430,319 324,250 32.7 %
Noninterest income:
Mortgage banking income32,848 38,939 (15.6)%
Investment services and trust income13,796 11,860 16.3 %
Service charges on deposit accounts13,328 10,920 22.1 %
ATM and interchange fees9,513 8,943 6.37 %
Loss from securities, net(240)(60,521)(99.6)%
Loss on sales or write-downs of premises and equipment, other real estate owned and other assets, net(731)(1,035)(29.4)%
Other income8,181 6,009 36.1 %
Total noninterest income76,695 15,115 407.4 %
Total revenue521,578 381,411 36.7 %
Noninterest expenses:
Salaries, commissions and employee benefits166,734 154,192 8.13 %
Occupancy and equipment expense22,669 20,846 8.75 %
Advertising7,717 7,118 8.42 %
Data processing 7,368 6,931 6.31 %
Legal and professional fees5,908 5,645 4.66 %
Amortization of core deposit and other intangibles5,414 3,366 60.8 %
Merger and integration costs1,447 19,192 (92.5)%
Other expense65,421 53,376 22.6 %
Total noninterest expense282,678 270,666 4.44 %
Income before income taxes224,336 68,699 226.5 %
Income tax expense 47,951 3,046 1,474.2 %
Net income applicable to noncontrolling interest and FB Financial Corporation176,385 65,653 168.7 %
Net income applicable to noncontrolling interests8 8 — %
Net income applicable to FB Financial Corporation$176,377 $65,645 168.7 %
Weighted average common shares outstanding:
Basic50,997,576 48,775,217 4.56 %
Fully diluted51,377,179 49,054,448 4.74 %
Earnings per common share:
Basic$3.46 $1.35 156.3 %
Fully diluted3.43 1.34 156.0 %
Fully diluted - adjusted*3.47 2.82 23.0 %
*This represents a non-GAAP financial measure; See “Use of non-GAAP Financial Measures” and non-GAAP reconciliations herein.





FB Financial Corporation
6

Consolidated Balance Sheets
(Unaudited)
(Dollars in Thousands)
Annualized
Sep 2026Sep 2026
vs.vs.
As ofJun 2026Sep 2025
Sep 2026Jun 2026Mar 2026Dec 2025Sep 2025Percent variance Percent variance
ASSETS
Cash and due from banks$157,807 $147,034 $159,883 $196,213 $154,286 29.1 %2.28 %
Federal funds sold and reverse repurchase agreements
170,399 228,861 199,009 213,391 283,451 (101.3)%(39.9)%
Interest-bearing deposits in financial institutions689,483 736,462 798,871 746,291 842,296 (25.3)%(18.1)%
Cash and cash equivalents1,017,689 1,112,357 1,157,763 1,155,895 1,280,033 (33.8)%(20.5)%
Investments:
Available-for-sale debt securities, at fair value1,538,130 1,521,093 1,498,547 1,459,579 1,426,951 4.44 %7.79 %
Equity securities, at fair value5,759 6,000 — 155 1,450 (15.9)%297.2 %
Restricted equity securities, at cost84,168 87,572 79,458 79,046 36,231 (15.4)%132.3 %
Loans held for sale255,069 198,089 231,359 201,076 167,449 114.1 %52.3 %
Loans held for investment13,179,564 12,865,510 12,503,815 12,383,626 12,297,600 9.68 %7.17 %
Less: allowance for credit losses on loans HFI193,960 194,010 186,324 185,983 184,993 (0.10)%4.85 %
Net loans held for investment12,985,604 12,671,500 12,317,491 12,197,643 12,112,607 9.83 %7.21 %
Premises and equipment, net178,596 180,058 181,268 182,370 183,595 (3.22)%(2.72)%
Other real estate owned, net4,655 5,544 6,449 6,009 4,466 (63.6)%4.23 %
Operating lease right-of-use assets46,118 47,535 48,223 49,249 51,035 (11.8)%(9.63)%
Interest receivable60,369 58,792 59,837 58,565 60,755 10.6 %(0.64)%
Mortgage servicing rights, at fair value150,873 145,374 147,344 148,795 149,840 15.0 %0.69 %
Bank-owned life insurance111,893 111,184 110,484 111,865 113,374 2.53 %(1.31)%
Goodwill350,353 350,353 350,353 350,353 350,353 — %— %
Core deposit and other intangibles, net25,870 27,611 29,415 31,284 33,216 (25.0)%(22.1)%
Other assets278,845 273,039 250,448 268,408 265,104 8.44 %5.18 %
Total assets$17,093,991 $16,796,101 $16,468,439 $16,300,292 $16,236,459 7.04 %5.28 %
LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities:
Deposits
Noninterest-bearing$2,777,111 $2,775,208 $2,664,480 $2,634,395 $2,690,635 0.27 %3.21 %
Interest-bearing checking2,610,941 2,479,291 2,642,713 2,651,369 2,458,625 21.1 %6.20 %
Money market and savings6,275,388 5,786,480 5,886,370 5,969,640 5,968,094 33.5 %5.15 %
Customer time deposits2,375,869 2,620,285 2,309,056 2,028,923 2,206,790 (37.0)%7.66 %
Brokered and internet time deposits626,687 685,902 574,216 625,634 488,811 (34.3)%28.2 %
Total deposits14,665,996 14,347,166 14,076,835 13,909,961 13,812,955 8.82 %6.18 %
Borrowings265,390 314,513 213,188 212,764 213,638 (62.0)%24.2 %
Operating lease liabilities56,215 57,940 59,106 60,556 62,664 (11.8)%(10.3)%
Accrued expenses and other liabilities172,651 139,858 145,344 168,753 169,066 93.0 %2.12 %
Total liabilities15,160,252 14,859,477 14,494,473 14,352,034 14,258,323 8.03 %6.33 %
Shareholders’ equity:
Common stock, $1 par value49,443 49,977 51,418 51,752 53,457 (4.24)%(7.51)%
Additional paid-in capital954,565 981,194 1,064,619 1,082,344 1,163,164 (10.8)%(17.9)%
Retained earnings990,417 940,824 893,095 846,620 799,900 20.9 %23.8 %
Accumulated other comprehensive loss, net(60,779)(35,464)(35,259)(32,551)(38,478)283.2 %58.0 %
Total common shareholders’ equity1,933,646 1,936,531 1,973,873 1,948,165 1,978,043 (0.59)%(2.24)%
Noncontrolling interest93 93 93 93 93 — %— %
Total equity1,933,739 1,936,624 1,973,966 1,948,258 1,978,136 (0.59)%(2.24)%
Total liabilities and shareholders’ equity$17,093,991 $16,796,101 $16,468,439 $16,300,292 $16,236,459 7.04 %5.28 %

FB Financial Corporation
7

Average Balance and Interest Yield/Rate Analysis
(Unaudited)
(Dollars in Thousands)
Three Months Ended
September 30, 2026June 30, 2026
Average
balances		Interest
income/
expense		Average
yield/
rate		Average
balances		Interest
income/
expense		Average
yield/
rate
Interest-earning assets:
Loans HFI(a)(b)
$12,977,638 $209,975 6.42 %$12,611,425 $203,763 6.48 %
Mortgage loans held for sale180,736 2,818 6.19 %205,594 3,111 6.07 %
Investment securities:
Taxable1,448,672 14,289 3.91 %1,405,824 13,804 3.94 %
Tax-exempt(b)
168,393 1,443 3.40 %169,143 1,442 3.42 %
Total investment securities(b)
1,617,065 15,732 3.86 %1,574,967 15,246 3.88 %
Federal funds sold and reverse repurchase agreements189,911 1,869 3.90 %199,542 1,974 3.97 %
Interest-bearing deposits with other financial institutions578,439 5,403 3.71 %544,979 5,006 3.68 %
Restricted equity securities, at cost84,193 1,171 5.52 %82,091 1,154 5.64 %
Total interest-earning assets(b)
15,627,982 236,968 6.02 %15,218,598 230,254 6.07 %
Noninterest-earning assets:
Cash and due from banks137,957 141,072 
Allowance for credit losses on loans HFI(194,674)(187,329)
Other assets(c)(d)
1,164,512 1,161,673 
Total noninterest-earning assets1,107,795 1,115,416 
Total assets$16,735,777 $16,334,014 
Interest-bearing liabilities:
Interest-bearing deposits:
Interest-bearing checking$2,513,622 $11,834 1.87 %$2,527,571 $11,601 1.84 %
Money market5,579,134 43,295 3.08 %5,305,608 39,263 2.97 %
Savings deposits524,702 1,446 1.09 %490,923 1,035 0.85 %
Customer time deposits2,371,348 21,443 3.59 %2,308,317 20,610 3.58 %
Brokered and internet time deposits630,325 6,388 4.02 %625,579 6,259 4.01 %
       Time deposits3,001,673 27,831 3.68 %2,933,896 26,869 3.67 %
Total interest-bearing deposits11,619,131 84,406 2.88 %11,257,998 78,768 2.81 %
Other interest-bearing liabilities:
Securities sold under agreements to repurchase and federal funds purchased9,481 20 0.84 %10,683 18 0.68 %
Federal Home Loan Bank advances5,163 65 4.99 %5,769 41 2.85 %
Subordinated debt93,866 1,664 7.03 %84,145 1,491 7.11 %
Other borrowings1,066 6 2.23 %16,478 148 3.60 %
Total other interest-bearing liabilities109,576 1,755 6.35 %117,075 1,698 5.82 %
Total interest-bearing liabilities11,728,707 86,161 2.91 %11,375,073 80,466 2.84 %
Noninterest-bearing liabilities:
Demand deposits2,798,442 2,722,563 
Other liabilities(d)
257,419 249,086 
Total noninterest-bearing liabilities3,055,861 2,971,649 
Total liabilities14,784,568 14,346,722 
Total common shareholders’ equity1,951,116 1,987,199 
Noncontrolling interest93 93 
Total equity1,951,209 1,987,292 
Total liabilities and shareholders’ equity$16,735,777 $16,334,014 
Net interest income(b)
$150,807 $149,788 
Interest rate spread(b)
3.11 %3.23 %
Net interest margin(b)(e)
3.83 %3.95 %
Cost of total deposits2.32 %2.26 %
Average interest-earning assets to average interest-bearing liabilities133.2 %133.8 %
Tax-equivalent adjustment$861 $816 
Loans HFI yield components:
    Contractual interest rate(b)
$203,083 6.21 %$195,348 6.22 %
    Origination and other loan fee income2,397 0.07 %2,589 0.08 %
    Accretion on purchased loans4,314 0.13 %5,049 0.16 %
    Nonaccrual interest181 0.01 %777 0.02 %
          Total loans HFI yield$209,975 6.42 %$203,763 6.48 %
(a) Average balances of nonaccrual loans and overdrafts are included in average loan balances.
(b) Includes tax-equivalent adjustment using combined federal and blended state statutory income tax rate of 26.06%.
(c) Includes average net unrealized losses on investment securities available for sale of $59,589 and $50,915 for the three months ended September 30, 2026 and June 30, 2026, respectively.
(d) Includes average of optional rights to repurchase government guaranteed GNMA mortgage loans previously sold that have become past due greater than 90 days of $31,009 and $33,122 for the three months ended September 30, 2026 and June 30, 2026, respectively.
(e)The NIM is calculated by dividing annualized net interest income, on a tax-equivalent basis, by average total interest earning assets.


FB Financial Corporation
8

Average Balance and Interest Yield/Rate Analysis (continued)
(Unaudited)
(Dollars in Thousands)
Three Months Ended
March 31, 2026December 31, 2025September 30, 2025
Average
balances		Interest
income/
expense		Average
yield/
rate		Average
balances		Interest
income/
expense		Average
yield/
rate		Average
balances		Interest
income/
expense		Average
yield/
rate
Interest-earning assets:
Loans HFI(a)(b)
$12,415,278 $199,145 6.51 %$12,368,964 $207,140 6.64 %$12,189,401 $207,423 6.75 %
Mortgage loans held for sale171,452 2,550 6.03 %169,422 3,059 7.16 %162,205 2,359 5.77 %
Investment securities:
Taxable1,378,627 13,575 3.99 %1,346,232 14,380 4.24 %1,304,894 14,395 4.38 %
Tax-exempt(b)
168,658 1,425 3.43 %169,355 1,431 3.35 %169,523 1,431 3.35 %
Total investment securities(b)
1,547,285 15,000 3.93 %1,515,587 15,811 4.14 %1,474,417 15,826 4.26 %
Federal funds sold and reverse repurchase   agreements207,809 2,021 3.94 %238,393 2,426 4.04 %331,029 3,966 4.75 %
Interest-bearing deposits with other financial institutions698,672 6,337 3.68 %693,612 6,800 3.89 %671,634 7,340 4.34 %
Restricted equity securities, at cost79,257 1,106 5.66 %49,029 840 6.80 %36,907 832 8.94 %
Total interest-earning assets(b)
15,119,753 226,159 6.07 %15,035,007 236,076 6.23 %14,865,593 237,746 6.35 %
Noninterest-earning assets:
Cash and due from banks147,305 137,536 139,226 
Allowance for credit losses on loans HFI(188,214)(185,526)(181,973)
Other assets(c)(d)
1,179,428 1,164,178 1,184,942 
Total noninterest-earning assets1,138,519 1,116,188 1,142,195 
Total assets$16,258,272 $16,151,195 $16,007,788 
Interest-bearing liabilities:
Interest-bearing deposits:
    Interest-bearing checking$2,628,330 $12,348 1.91 %$2,379,679 $11,538 1.92 %$2,331,589 $12,383 2.11 %
    Money market5,471,973 39,871 2.96 %5,609,158 46,018 3.25 %5,561,538 49,019 3.50 %
    Savings deposits447,380 656 0.59 %417,110 419 0.40 %406,787 248 0.24 %
    Customer time deposits2,116,914 19,000 3.64 %2,088,577 19,561 3.72 %1,997,905 18,965 3.77 %
    Brokered and internet time deposits604,764 6,003 4.03 %608,136 6,277 4.10 %560,127 5,962 4.22 %
       Time deposits2,721,67825,0033.73 %2,696,713 25,838 3.80 %2,558,032 24,927 3.87 %
Total interest-bearing deposits11,269,36177,8782.80 %11,102,660 83,813 2.99 %10,857,946 86,577 3.16 %
Other interest-bearing liabilities:
Securities sold under agreements to repurchase and federal funds purchased12,554 16 0.52 %12,473 31 0.99 %13,144 31 0.94 %
  Federal Home Loan Bank advances— — — %— — — %15,217 172 4.48 %
  Subordinated debt83,798 1,486 7.19 %83,458 1,491 7.09 %180,805 2,872 6.30 %
  Other borrowings1,118 5 1.81 %9,296 99 4.23 %1,168 6 2.04 %
Total other interest-bearing liabilities97,470 1,507 6.27 %105,227 1,621 6.11 %210,334 3,081 5.81 %
Total interest-bearing liabilities11,366,831 79,385 2.83 %11,207,887 85,434 3.02 %11,068,280 89,658 3.21 %
Noninterest-bearing liabilities:
Demand deposits2,652,462 2,733,207 2,724,898 
Other liabilities(d)
273,009 253,375 236,732 
Total noninterest-bearing liabilities2,925,471 2,986,582 2,961,630 
Total liabilities14,292,302 14,194,469 14,029,910 
Total common shareholders’ equity1,965,877 1,956,633 1,977,785 
Noncontrolling interest93 93 93 
Total equity1,965,970 1,956,726 1,977,878 
Total liabilities and shareholders’ equity$16,258,272 $16,151,195 $16,007,788 
Net interest income(b)
$146,774 $150,642 $148,088 
Interest rate spread(b)
3.24 %3.21 %3.14 %
Net interest margin(b)(e)
3.94 %3.98 %3.95 %
Cost of total deposits2.27 %2.40 %2.53 %
Average interest-earning assets to average interest-bearing liabilities133.0 %134.1 %134.3 %
Tax-equivalent adjustment$809 $838 $848 
Loans HFI yield components:
    Contractual interest rate(b)
$190,529 6.22 %$197,683 6.34 %$198,320 6.45 %
    Origination and other loan fee income2,148 0.07 %2,633 0.08 %1,575 0.05 %
    Accretion on purchased loans6,297 0.21 %6,406 0.21 %7,025 0.23 %
    Nonaccrual interest171 0.01 %418 0.01 %503 0.02 %
          Total loans HFI yield$199,145 6.51 %$207,140 6.64 %$207,423 6.75 %
(a) Average balances of nonaccrual loans and overdrafts are included in average loan balances.
(b) Includes tax-equivalent adjustment using combined federal and blended state statutory income tax rate of 26.06%.
(c) Includes average net unrealized losses on investment securities available for sale of $43,443, $51,415 and $64,781 for the three months ended March 31, 2026, December 31, 2025 and
September 30, 2025, respectively.
(d) Includes average of optional rights to repurchase government guaranteed GNMA mortgage loans previously sold that have become past due greater than 90 days of $31,982, $23,208
and $21,645 for the three months ended March 31, 2026, December 31, 2025 and September 30, 2025, respectively.
(e)The NIM is calculated by dividing annualized net interest income, on a tax-equivalent basis, by average total interest earning assets.

FB Financial Corporation
9

Average Balance and Interest Yield/Rate Analysis (continued)
(Unaudited)
(Dollars in Thousands)
Nine Months Ended
September 30, 2026September 30, 2025
Average
balances		Interest
income/
expense		Average
yield/
rate		Average
balances		Interest
income/
expense		Average
yield/
rate
Interest-earning assets:
Loans HFI(a)(b)
$12,670,173 $612,883 6.47 %$10,559,871 $517,561 6.55 %
Mortgage loans held for sale185,961 8,479 6.10 %127,657 5,981 6.26 %
Investment securities:
Taxable1,411,298 41,668 3.95 %1,459,685 43,527 3.99 %
Tax-exempt(b)
168,730 4,310 3.42 %168,390 4,229 3.36 %
Total investment securities(b)
1,580,028 45,978 3.89 %1,628,075 47,756 3.92 %
Federal funds sold and reverse repurchase agreements199,022 5,864 3.94 %189,984 6,596 4.64 %
Interest-bearing deposits with other financial institutions606,923 16,746 3.69 %635,796 20,975 4.41 %
Restricted equity securities, at cost81,865 3,431 5.60 %35,024 2,274 8.68 %
Total interest-earning assets(b)
15,323,972 693,381 6.05 %13,176,407 601,143 6.10 %
Noninterest-earning assets:
Cash and due from banks142,077 126,093 
Allowance for credit losses on loans HFI(190,096)(162,040)
Other assets(c)(d)
1,168,484 952,215 
Total noninterest-earning assets1,120,465 916,268 
Total assets$16,444,437 $14,092,675 
Interest-bearing liabilities:
Interest-bearing deposits:
    Interest-bearing checking$2,556,088 $35,783 1.87 %$2,562,483 $46,520 2.43 %
    Money market5,452,631 122,429 3.00 %4,592,506 118,336 3.45 %
    Savings deposits487,951 3,137 0.86 %371,180 412 0.15 %
    Customer time deposits2,266,458 61,053 3.60 %1,594,062 44,121 3.70 %
    Brokered and internet time deposits620,316 18,650 4.02 %495,671 16,005 4.32 %
       Time deposits2,886,774 79,703 3.69 %2,089,733 60,126 3.85 %
Total interest-bearing deposits11,383,444 241,052 2.83 %9,615,902 225,394 3.13 %
Other interest-bearing liabilities:
Securities sold under agreements to repurchase and federal funds purchased10,895 54 0.66 %11,773 63 0.72 %
  Federal Home Loan Bank advances3,663 106 3.87 %12,821 430 4.48 %
  Subordinated debt87,306 4,641 7.11 %147,654 6,489 5.88 %
  Other borrowings 6,220 159 3.42 %1,560 16 1.37 %
Total other interest-bearing liabilities108,084 4,960 6.14 %173,808 6,998 5.38 %
Total interest-bearing liabilities11,491,528 246,012 2.86 %9,789,710 232,392 3.17 %
Noninterest-bearing liabilities:
Demand deposits2,725,024 2,357,537 
   Other liabilities(d)
259,782 228,944 
Total noninterest-bearing liabilities2,984,806 2,586,481 
Total liabilities14,476,334 12,376,191 
Total common shareholders’ equity1,968,010 1,716,391
Noncontrolling interest93 93 
Total equity1,968,103 1,716,484 
Total liabilities and shareholders’ equity$16,444,437 $14,092,675 
Net interest income(b)
$447,369 $368,751 
Interest rate spread(b)
3.19 %2.93 %
Net interest margin(b)(e)
3.90 %3.74 %
Cost of total deposits2.28 %2.52 %
Average interest-earning assets to average interest-bearing liabilities133.4 %134.6 %
Tax equivalent adjustment$2,486 $2,455 
Loans HFI yield components:
    Contractual interest rate(b)
$588,960 6.21 %$503,836 6.37 %
    Origination and other loan fee income7,134 0.08 %5,317 0.07 %
    Accretion on purchased loans15,660 0.17 %6,965 0.09 %
    Nonaccrual interest1,129 0.01 %1,443 0.02 %
          Total loans HFI yield$612,883 6.47 %$517,561 6.55 %
(a) Average balances of nonaccrual loans and overdrafts are included in average loan balances.
(b) Includes tax-equivalent adjustment using combined federal and blended state statutory income tax rate of 26.06%.
(c) Includes average net unrealized losses on investment securities available for sale of $51,375 and $108,373 for the nine months ended September 30, 2026 and 2025, respectively.
(d) Includes average of optional rights to repurchase government guaranteed GNMA mortgage loans previously sold that have become past due greater than 90 days of $32,034 and $25,812 for the      nine months ended September 30, 2026 and 2025, respectively.
(e)The NIM is calculated by dividing annualized net interest income, on a tax-equivalent basis, by average total interest earning assets.
FB Financial Corporation
10

Investments and Other Sources of Liquidity
(Unaudited)
(Dollars in Thousands)
As of
Sep 2026Jun 2026Mar 2026Dec 2025Sep 2025
Investment securities, at fair value
Available-for-sale debt securities:
  U.S. government agency securities$789,987 51 %$748,777 49 %$713,910 48 %$670,088 46 %$653,197 46 %
  Mortgage-backed securities - residential568,520 37 %573,179 38 %599,180 40 %602,320 41 %587,587 41 %
  Mortgage-backed securities - commercial18,644 2 %20,205 2 %10,632 1 %10,678 1 %10,681 1 %
  Municipal securities152,325 10 %170,173 11 %166,033 11 %168,370 12 %165,411 12 %
  Treasury securities6,964 — %7,066 — %7,092 — %7,125 — %7,080 — %
  Corporate securities1,690 — %1,693 — %1,700 — %998 — %2,995 — %
Total available-for-sale debt securities1,538,130 100 %1,521,093 100 %1,498,547 100 %1,459,579 100 %1,426,951 100 %
Equity securities, at fair value 5,759 — %6,000 — %— — %155 — %1,450 — %
Total investment securities, at fair value $1,543,889 100 %$1,527,093 100 %$1,498,547 100 %$1,459,734 100 %$1,428,401 100 %
Investment securities to total assets9.03 %9.09 %9.10 %8.96 %8.8 %
Unrealized loss on available-for-sale debt securities(85,778)(51,828)(51,495)(47,887)(55,890)
Sources of liquidity
Current on-balance sheet:
  Cash and cash equivalents$1,017,68958 %$1,112,35762 %$1,157,76365 %$1,155,89564 %$1,280,03368 %
  Unpledged available-for-sale debt securities731,48342 %691,29038 %637,18235 %649,00036 %608,71632 %
  Equity securities, at fair value5,759— %6,000— %— — %155 — %1,450— %
Total on-balance sheet liquidity$1,754,931100 %$1,809,647100 %$1,794,945 100 %$1,805,050 100 %$1,890,199 100 %
Available sources of liquidity:
  Unsecured borrowing capacity(a)
$4,210,357 49 %$4,012,661 48 %$4,021,984 47 %$3,915,314 47 %$4,018,822 52 %
   FHLB remaining borrowing capacity2,290,10927 %2,106,16126 %2,213,25126 %2,214,79626 %1,551,28320 %
   Federal Reserve discount window2,070,11924 %2,138,24826 %2,319,52127 %2,268,59927 %2,196,78528 %
Total available sources of liquidity$8,570,585 100 %$8,257,070 100 %$8,554,756 100 %$8,398,709 100 %$7,766,890 100 %
On-balance sheet liquidity as a
    percentage of total assets		10.3 %10.8 %10.9 %11.1 %11.6 %
On-balance sheet liquidity as a
    percentage of total tangible assets*		10.5 %11.0 %11.2 %11.3 %11.9 %
On-balance sheet liquidity and available
    sources of liquidity as a percentage of
    estimated uninsured and
    uncollateralized deposits(b)
235.9 %246.7 %255.0 %249.8 %245.0 %
(a) Includes capacity available per internal policy in the form of brokered deposits and unsecured lines of credit.
(b) Amounts are shown on a fully consolidated basis and exclude deposits of affiliates that are eliminated in consolidation.
*This represents a non-GAAP financial measure; See “Use of non-GAAP Financial Measures” and non-GAAP reconciliations herein.


FB Financial Corporation
11

Loan Portfolio
(Unaudited)
(Dollars in Thousands)
As of
Sep 2026% of Total Jun 2026% of TotalMar 2026% of TotalDec 2025% of TotalSep 2025% of Total
Loan portfolio
Commercial and industrial $2,258,655 17 %$2,259,794 18 %$2,239,228 18 %$2,181,935 18 %$2,155,105 17 %
Construction1,177,433 9 %1,157,961 9 %1,177,082 9 %1,188,494 10 %1,195,392 10 %
Residential real estate:
1-to-4 family mortgage2,051,105 16 %1,917,533 15 %1,856,308 15 %1,838,122 15 %1,852,626 15 %
Residential line of credit812,771 6 %802,753 6 %768,190 6 %741,309 6 %707,303 6 %
Multi-family mortgage809,083 6 %767,500 6 %716,795 6 %745,360 6 %736,424 6 %
Commercial real estate:
Owner-occupied2,282,155 17 %2,252,681 18 %2,204,731 18 %2,148,870 17 %2,124,920 17 %
Non-owner occupied3,079,035 23 %3,016,923 23 %2,869,759 23 %2,900,499 23 %2,890,233 24 %
Consumer and other709,327 6 %690,365 5 %671,722 5 %639,037 5 %635,597 5 %
Total loans HFI$13,179,564 100 %$12,865,510 100 %$12,503,815 100 %$12,383,626 100 %$12,297,600 100 %
Percentage of loans HFI portfolio with
    floating interest rates		52.6 %52.8 %52.3 %52.2 %51.5 %
Percentage of loans HFI portfolio with
  floating interest rates that mature after
  one year		50.8 %50.2 %49.0 %49.3 %48.0 %
Loans by market(a)
Metropolitan$8,218,871 62 %$8,103,909 63 %$7,942,216 63 %$8,067,142 65 %$8,013,133 65 %
Community3,906,882 30 %3,750,952 29 %3,596,277 29 %3,400,998 28 %3,369,100 27 %
Specialty lending and other1,053,811 8 %1,010,649 8 %965,322 8 %915,486 7 %915,367 8 %
Total$13,179,564 100 %$12,865,510 100 %$12,503,815 100 %$12,383,626 100 %$12,297,600 100 %
Unfunded loan commitments
Commercial and industrial $1,546,291 44 %$1,472,485 45 %$1,465,835 45 %$1,464,207 45 %$1,451,366 46 %
Construction811,508 23 %743,922 23 %730,199 23 %704,781 22 %731,742 23 %
Residential real estate:
1-to-4 family mortgage14,247 — %12,158 — %14,427 — %16,942 1 %5,581 — %
Residential line of credit859,443 25 %850,189 26 %837,761 26 %828,042 26 %808,961 25 %
Multi-family mortgage7,086 —%6,981 —%8,145 —%6,698 —%6,665 —%
Commercial real estate:
Owner-occupied120,268 4 %96,729 3 %97,430 3 %92,265 3 %96,287 3 %
Non-owner occupied95,104 3 %80,600 2 %59,417 2 %65,037 2 %68,293 2 %
Consumer and other38,793 1 %25,850 1 %23,763 1 %20,530 1 %21,480 1 %
Total unfunded loans HFI$3,492,740 100 %$3,288,914 100 %$3,236,977 100 %$3,198,502 100 %$3,190,375 100 %
(a) Prior period amounts have been recast to reflect updated definitions of market categories.
FB Financial Corporation
12

Asset Quality
(Unaudited)
(Dollars in Thousands)
As of or for the Three Months Ended
Sep 2026Jun 2026Mar 2026Dec 2025Sep 2025
Allowance for credit losses on loans HFI roll forward summary
Allowance for credit losses on loans HFI at the beginning of the period$194,010 $186,324 $185,983 $184,993 $148,948 
Charge-offs(1,874)(2,482)(4,033)(1,818)(1,709)
Recoveries657 513 552 380 279 
Provision for credit losses on loans HFI1,167 9,655 3,822 2,428 29,957 
Initial allowance on acquired loans with credit deterioration— — — — 7,518 
Allowance for credit losses on loans HFI at the end of the period$193,960 $194,010 $186,324 $185,983 $184,993 
Allowance for credit losses on loans HFI as a percentage of loans HFI1.47 %1.51 %1.49 %1.50 %1.50 %
Allowance for credit losses on unfunded commitments$16,116 $15,859 $15,398 $16,196 $17,392 
Charge-offs
Commercial and industrial$— $(637)$(2,168)$(65)$(100)
Construction— (111)(204)— (399)
Residential real estate:
1-to-4 family mortgage(120)(421)(405)(368)(322)
Residential line of credit(5)— (23)— — 
Consumer and other(1,749)(1,313)(1,233)(1,385)(888)
Total charge-offs(1,874)(2,482)(4,033)(1,818)(1,709)
Recoveries
Commercial and industrial28 148 101 159 12 
Construction— 2 25 — — 
Residential real estate:
1-to-4 family mortgage15 58 8 13 6 
Residential line of credit1 1 — — 11 
Commercial real estate:
Owner occupied10 16 13 8 4 
Consumer and other603 288 405 200 246 
Total recoveries657 513 552 380 279 
Net charge-offs$(1,217)$(1,969)$(3,481)$(1,438)$(1,430)
Annualized net charge-offs as a percentage of average loans HFI0.04 %0.06 %0.11 %0.05 %0.05 %
Nonperforming assets
Loans past due 90 days or more and accruing interest$31,384 $41,600 $27,185 $32,751 $26,311 
Nonaccrual loans124,377 108,583 92,289 87,721 89,448 
Total nonperforming loans HFI
155,761 150,183 119,474 120,472 115,759 
Mortgage loans held for sale(a)
29,134 32,578 32,590 28,102 21,660 
Other real estate owned4,655 5,544 6,449 6,009 4,466 
Other repossessed assets4,277 3,961 3,518 3,564 3,314 
Total nonperforming assets$193,827 $192,266 $162,031 $158,147 $145,199 
Total nonperforming loans HFI as a percentage of loans HFI1.18 %1.17 %0.96 %0.97%0.94%
Total nonperforming assets as a percentage of total assets
1.13 %1.14 %0.98 %0.97%0.89%
Total nonaccrual loans as a percentage of loans HFI0.94 %0.84 %0.74 %0.71%0.73%
(a) Represents optional right to repurchase government guaranteed GNMA mortgage loans previously sold that have become past due greater than 90 days.

FB Financial Corporation
13

 Selected Deposit Data
(Unaudited)
(Dollars in Thousands)
As of
Sep 2026Jun 2026Mar 2026Dec 2025Sep 2025
Deposits by market(a)
Metropolitan$6,934,84647 %$6,394,15745 %$6,372,78245 %$6,356,57346 %$6,099,46544 %
Community6,414,54044 %6,342,90344 %6,392,76646 %6,302,32645 %6,281,45445 %
Brokered/wholesale626,6874 %685,9025 %574,2164 %625,6345 %487,7654 %
Escrow and other(b)
689,9235 %924,2046 %737,0715 %625,4284 %944,2717 %
Total$14,665,996100 %$14,347,166100 %$14,076,835100 %$13,909,961100 %$13,812,955100 %
Deposits by customer
    segment
Consumer$6,173,56742 %$6,014,10542 %$6,060,11543 %$6,063,01544 %$5,966,45843 %
Commercial 6,822,46947 %6,354,79744 %6,155,87444 %6,162,22144 %6,045,41844 %
Public1,669,96011 %1,978,26414 %1,860,84613 %1,684,72512 %1,801,07913 %
Total$14,665,996100 %$14,347,166100 %$14,076,835100 %$13,909,961100 %$13,812,955100 %
Estimated insured or
   collateralized deposits		$10,289,614$10,208,000$10,017,773$9,825,599$9,871,337
Estimated uninsured
   and uncollateralized
   deposits(c)
$4,376,382$4,139,166$4,059,062$4,084,362$3,941,618
Estimated uninsured and
   uncollateralized deposits
    as a % of total
    deposits(c)
29.8 %28.9 %28.8 %29.4 %28.5 %
(a) Prior period amounts have been recast to reflect updated definitions of market categories.
(b) Includes deposits related to escrow balances from mortgage and specialty lending servicing portfolios and treasury/other deposits.
(c) Amounts are shown on a fully consolidated basis and exclude deposits of affiliates that are eliminated in consolidation.



FB Financial Corporation
14

Preliminary Capital Ratios
(Unaudited)
(Dollars in Thousands)
Computation of tangible common equity to tangible assets:September 30, 2026December 31, 2025
Total common shareholders' equity$1,933,646 $1,948,165 
Less:
    Goodwill350,353 350,353 
    Other intangibles25,870 31,284 
Tangible common equity$1,557,423 $1,566,528 
Total assets$17,093,991 $16,300,292 
Less:
    Goodwill350,353 350,353 
    Other intangibles25,870 31,284 
Tangible assets$16,717,768 $15,918,655 
Preliminary total risk-weighted assets$15,027,713 $14,253,337 
Total common equity to total assets11.3 %12.0 %
Tangible common equity to tangible assets*9.32 %9.84 %
September 30, 2026December 31, 2025
Preliminary regulatory capital:
    Common equity Tier 1 capital$1,645,994 $1,625,952 
    Tier 1 capital1,645,994 1,625,952 
    Total capital2,041,803 1,888,051 
Preliminary regulatory capital ratios:
    Common equity Tier 1 11.0 %11.4 %
    Tier 1 risk-based11.0 %11.4 %
    Total risk-based 13.6 %13.2 %
    Tier 1 leverage10.0 %10.3 %
*This represents a 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
Sep 2026Jun 2026Mar 2026Dec 2025Sep 2025
Banking segment
Interest income$233,558 $226,981 $223,418 $233,202 $236,073 
Interest expense87,434 81,549 80,296 86,637 91,214 
Net interest income$146,124 $145,432 $143,122 $146,565 $144,859 
Provisions for credit losses981 9,139 1,987 796 34,070 
Noninterest income15,027 14,403 13,962 15,207 13,078 
Salaries, commissions and employee benefits48,912 46,517 49,364 55,928 51,441 
Merger and integration costs— — 1,447 4,611 16,057 
Other noninterest expense33,575 32,602 30,765 33,017 29,471 
Pre-tax net contribution after allocations$77,683 $71,577 $73,521 $67,420 $26,898 
Total assets$16,232,445 $16,015,694 $15,703,248 $15,623,962 $15,598,629 
Efficiency ratio51.2 %49.5 %51.9 %57.8 %61.4 %
Adjusted efficiency ratio*50.8 %49.1 %50.9 %53.5 %50.6 %
Mortgage segment
Interest income$2,549 $2,457 $1,932 $2,036 $825 
Interest expense(1,273)(1,083)(911)(1,203)(1,556)
Net interest income$3,822 $3,540 $2,843 $3,239 $2,381 
Provisions for credit losses443 977 1,037 436 347 
Mortgage banking income9,425 11,170 12,253 13,505 13,484 
Other noninterest income88 207 160 83 73 
Salaries, commissions and employee benefits7,142 6,815 7,984 7,601 7,769 
Other noninterest expense6,405 5,546 5,604 6,391 5,118 
Pre-tax net (loss) contribution after allocations$(655)$1,579 $631 $2,399 $2,704 
Total assets $861,546 $780,407 $765,191 $676,330 $637,830 
Efficiency ratio101.6 %82.9 %89.1 %83.2 %80.9 %
Adjusted efficiency ratio*96.5 %83.6 %89.6 %83.2 %80.9 %
Interest rate lock commitments volume$330,303 $435,506 $490,265 $385,516 $432,149 
Interest rate lock commitments pipeline (period end)$83,316 $103,853 $133,669 $86,586 $128,961 
Mortgage loan sales$230,476 $377,406 $295,123 $336,085 $343,450 
Gains and fees from origination and sale of mortgage loans held for sale$8,168 $9,410 $8,517 $9,976 $9,237 
Net change in fair value of loans held for sale, derivatives, and other(1,717)(1,021)1,008 (57)801 
Mortgage servicing income6,452 6,494 6,580 6,668 6,836 
Change in fair value of mortgage servicing rights, net of hedging(3,478)(3,713)(3,852)(3,082)(3,390)
Total mortgage banking income$9,425 $11,170 $12,253 $13,505 $13,484 
Mortgage sale margin(a)
3.54 %2.49 %2.89 %2.97 %2.69 %
*This represents a non-GAAP financial measure; See “Use of non-GAAP Financial Measures” and non-GAAP reconciliations herein.
(a) Calculated by dividing gains and fees from origination and sale of mortgage loans held for sale by total mortgage sales.
FB Financial Corporation
16

Non-GAAP Reconciliations
(Unaudited)
(Dollars in Thousands, Except Per Share Data)
Three Months EndedNine Months Ended
Adjusted net incomeSep 2026Jun 2026Mar 2026Dec 2025Sep 2025Sep 2026Sep 2025
Income before income taxes$77,028 $73,156 $74,152 $69,819 $29,602 $224,336 $68,699 
Less (loss) gain from securities,
   net		(241)— 1 64 12 (240)(60,521)
Less loss on sales or
   write-downs of premises and
   equipment, other real estate
   owned and other assets, net		(34)(377)(320)(131)(646)(731)(1,035)
Less cash life insurance benefit— — 763 1,148 — 763 — 
Plus initial provision for credit
   losses on acquired loans and
   unfunded commitments		— — — — 28,366 — 28,366 
Plus early retirement and
   severance costs		— — — 1,395 — — — 
Plus loan subservicer transition
   costs		719 — — — — 719 — 
Plus (gain) loss on lease
   terminations and other branch
   closure costs		— (42)5 12 270 (37)270 
Plus charitable contribution to
   FirstBank Foundation		— — — 1,130 — — — 
Plus merger and integration
   costs		— — 1,447 4,611 16,057 1,447 19,192 
Adjusted pre-tax net income78,022 73,491 75,160 75,886 74,929 226,673 178,083 
Less income tax expense,
   adjusted for items above(a)
17,085 14,586 16,889 14,392 17,323 48,560 30,835 
Plus income tax benefit(b)
— — — — — — (8,713)
Adjusted net income$60,937 $58,905 $58,271 $61,494 $57,606 $178,113 $138,535 
Weighted average common shares
     outstanding - fully diluted		50,286,830 51,693,688 52,203,469 53,074,753 53,957,062 51,377,179 49,054,448 
Adjusted diluted earnings per
   common share
Diluted earnings per common share$1.20 $1.13 $1.10 $1.07 $0.43 $3.43 $1.34 
Adjusted diluted earnings per
   common share 		$1.21 $1.14 $1.12 $1.16 $1.07 $3.47 $2.82 
(a) Adjusted items calculated using the combined federal and blended state statutory income tax rate of 26.06% for all periods, excluding nondeductible items for merger and integration costs.
(b) Represents a non-recurring tax benefit recorded during the three months ended June 30, 2025 due to the expiration of the statute of limitations with respect to an amended income tax return.















FB Financial Corporation
17



Non-GAAP Reconciliations (continued)
(Unaudited)
(Dollars in Thousands)
Three Months EndedNine Months Ended
Adjusted pre-tax pre-provision
   net revenue		Sep 2026Jun 2026Mar 2026Dec 2025Sep 2025Sep 2026Sep 2025
Income before income taxes$77,028 $73,156 $74,152 $69,819 $29,602 $224,336 $68,699 
Plus provisions for credit losses1,424 10,116 3,024 1,232 34,417 14,564 42,046 
Pre-tax pre-provision net revenue78,452 83,272 77,176 71,051 64,019 238,900 110,745 
Less (loss) gain from securities,
   net		(241)— 1 64 12 (240)(60,521)
Less loss on sales or
   write-downs of premises and
   equipment, other real estate
   owned and other assets, net		(34)(377)(320)(131)(646)(731)(1,035)
Less cash life insurance benefit— — 763 1,148 — 763 — 
Plus early retirement and
   severance costs		— — — 1,395 — — — 
Plus loan subservicer transition
   costs		719 — — — — 719 — 
Plus (gain) loss on lease
   terminations and other branch
   closure costs		— (42)5 12 270 (37)270 
Plus charitable contribution to
   FirstBank Foundation		— — — 1,130 — — — 
Plus merger and integration
   costs		— — 1,447 4,611 16,057 1,447 19,192 
Adjusted pre-tax pre-provision
   net revenue		$79,446 $83,607 $78,184 $77,118 $80,980 $241,237 $191,763 
FB Financial Corporation
18

Non-GAAP Reconciliations (continued)
(Unaudited)
(Dollars in Thousands)
Three Months EndedNine Months Ended
Adjusted tangible net incomeSep 2026Jun 2026Mar 2026Dec 2025Sep 2025Sep 2026Sep 2025
Income before income taxes$77,028 $73,156 $74,152 $69,819 $29,602 $224,336 $68,699 
Plus amortization of core
   deposit and other intangibles		1,741 1,804 1,869 1,932 2,079 5,414 3,366 
Less (loss) gain from securities,
   net		(241)— 1 64 12 (240)(60,521)
Less loss on sales or
   write-downs of premises and
   equipment, other real estate
   owned and other assets, net		(34)(377)(320)(131)(646)(731)(1,035)
Less cash life insurance benefit— — 763 1,148 — 763 — 
Plus initial provision for credit
   losses on acquired loans and
   unfunded commitments		— — — — 28,366 — 28,366 
Plus early retirement and
   severance costs		— — — 1,395 — — — 
Plus loan subservicer transition
   costs		719 — — — — 719 — 
Plus (gain) loss on lease
   terminations and other branch
   closure costs		— (42)5 12 270 (37)270 
Plus charitable contribution to
   FirstBank Foundation		— — — 1,130 — — — 
Plus merger and integration
   costs		— — 1,447 4,611 16,057 1,447 19,192 
Less income tax expense,
   adjusted for items above(a)
17,539 15,056 17,376 14,895 17,864 49,971 31,711 
Plus income tax benefit(b)
— — — — — — (8,713)
Adjusted tangible net income$62,224 $60,239 $59,653 $62,923 $59,144 $182,116 $141,025 
(a) Adjusted items calculated using the combined federal and blended state statutory income tax rate of 26.06% for all periods, excluding nondeductible items for merger and integration costs.
(b) Represents a non-recurring tax benefit recorded during the three months ended June 30, 2025 due to the expiration of the statute of limitations with respect to an amended income tax return.
FB Financial Corporation
19

Non-GAAP Reconciliations (continued)
(Unaudited)
(Dollars in Thousands)
Three Months EndedNine Months Ended
Adjusted efficiency ratio (tax-
    equivalent basis)		Sep 2026Jun 2026Mar 2026Dec 2025Sep 2025Sep 2026Sep 2025
Total noninterest expense$96,034 $91,480 $95,164 $107,548 $109,856 $282,678 $270,666 
Less early retirement and
   severance costs		— — — 1,395 — — — 
Less loan subservicer transition
   costs		719 — — — — 719 — 
Less (gain) loss on lease
   terminations and other branch
   closure costs		— (42)5 12 270 (37)270 
Less charitable contribution to
   FirstBank Foundation		— — — 1,130 — — — 
Less merger and integration
   costs		— — 1,447 4,611 16,057 1,447 19,192 
Adjusted noninterest expense$95,315 $91,522 $93,712 $100,400 $93,529 $280,549 $251,204 
Net interest income$149,946 $148,972 $145,965 $149,804 $147,240 $444,883 $366,296 
Net interest income (tax-equivalent
   basis)		150,807 149,788 146,774 150,642 148,088 447,369 368,751 
Total noninterest income 24,540 25,780 26,375 28,795 26,635 76,695 15,115 
Less (loss) gain from securities,
   net		(241)— 1 64 12 (240)(60,521)
Less loss on sales or
   write-downs of premises and
   equipment, other real estate
   owned and other assets, net		(34)(377)(320)(131)(646)(731)(1,035)
Less cash life insurance benefit— — 763 1,148 — 763 — 
Adjusted noninterest income24,815 26,157 25,931 27,714 27,269 76,903 76,671 
Total revenue$174,486 $174,752 $172,340 $178,599 $173,875 $521,578 $381,411 
Adjusted revenue (tax-equivalent
   basis)		$175,622 $175,945 $172,705 $178,356 $175,357 $524,272 $445,422 
Efficiency ratio55.0%52.3%55.2%60.2%63.2%54.2%71.0%
Adjusted efficiency ratio (tax-
   equivalent basis)		54.3%52.0%54.3%56.3%53.3%53.5%56.4%
FB Financial Corporation
20

Non-GAAP Reconciliations (continued)
(Unaudited)
(Dollars in Thousands)
Three Months EndedNine Months Ended
Banking segment adjusted
   efficiency ratio (tax-equivalent)		Sep 2026Jun 2026Mar 2026Dec 2025Sep 2025Sep 2026Sep 2025
Banking segment noninterest
   expense		$82,487 $79,119 $81,576 $93,556 $96,969 $243,182 $231,208 
Less early retirement and
   severance costs		— — — 1,395 — — — 
Less (gain) loss on lease
   terminations and other branch
   closure costs		— (42)5 12 270 (37)270 
Less charitable contribution to
   FirstBank Foundation		— — — 1,130 — — — 
Less merger and integration
   costs		— — 1,447 4,611 16,057 1,447 19,192 
Banking segment adjusted
   noninterest expense		$82,487 $79,161 $80,124 $86,408 $80,642 $241,772 $211,746 
Banking segment net interest
   income 		$146,124 $145,432 $143,122 $146,565 $144,859 $434,678 $359,527 
Banking segment net interest
   income (tax-equivalent basis)		146,985 146,248 143,931 147,403 145,707 437,164 361,982 
Banking segment noninterest
   income (loss)		15,027 14,403 13,962 15,207 13,078 43,392 (23,982)
Less (loss) gain from securities,
   net		(241)— 1 64 12 (240)(60,521)
Less cash life insurance benefit— — 763 1,148 — 763 — 
Less loss on sales or
   write-downs of premises and
   equipment, other real estate
   owned and other assets, net		(72)(515)(409)(131)(646)(996)(940)
Banking segment adjusted
   noninterest income		15,340 14,918 13,607 14,126 13,712 43,865 37,479 
Banking segment total revenue$161,151 $159,835 $157,084 $161,772 $157,937 $478,070 $335,545 
Banking segment total adjusted
   revenue (tax-equivalent basis)		$162,325 $161,166 $157,538 $161,529 $159,419 $481,029 $399,461 
Banking segment efficiency ratio 51.2%49.5%51.9%57.8%61.4%50.9%68.9%
Banking segment adjusted
   efficiency ratio (tax-equivalent
   basis)		50.8%49.1%50.9%53.5%50.6%50.3%53.0%
FB Financial Corporation
21

Non-GAAP Reconciliations (continued)
Unaudited
(Dollars in Thousands)
Three Months EndedNine Months Ended
Mortgage segment adjusted
   efficiency ratio (tax-equivalent)		Sep 2026Jun 2026Mar 2026Dec 2025Sep 2025Sep 2026Sep 2025
Mortgage segment noninterest
   expense		$13,547 $12,361 $13,588 $13,992 $12,887 $39,496 $39,458 
Less loan subservicer transition
   costs		719 — — — — 719 — 
Mortgage segment adjusted
   noninterest expense		$12,828 $12,361 $13,588 $13,992 $12,887 $38,777 $39,458 
Mortgage segment net interest
   income		$3,822 $3,540 $2,843 $3,239 $2,381 $10,205 $6,769 
Mortgage segment noninterest
   income		9,513 11,377 12,413 13,588 13,557 33,303 39,097 
Less gain (loss) on sales or
   write-downs of premises and
   equipment, other real estate
   owned and other assets, net		38 138 89 — — 265 (95)
Mortgage segment adjusted
   noninterest income		9,475 11,239 12,324 13,588 13,557 33,038 39,192 
Mortgage segment total revenue$13,335 $14,917 $15,256 $16,827 $15,938 $43,508 $45,866 
Mortgage segment adjusted total revenue$13,297 $14,779 $15,167 $16,827 $15,938 $43,243 $45,961 
Mortgage segment efficiency ratio 101.6%82.9%89.1%83.2%80.9%90.8%86.0%
Mortgage segment adjusted
   efficiency ratio (tax-equivalent
   basis)		96.5%83.6%89.6%83.2%80.9%89.7%85.9%
FB Financial Corporation
22

Non-GAAP Reconciliations (continued)
(Unaudited)
(Dollars in Thousands, Except Per Share Data)
As of
Tangible assets, common equity and related
     measures		Sep 2026Jun 2026Mar 2026Dec 2025Sep 2025
Tangible assets
Total assets$17,093,991 $16,796,101 $16,468,439 $16,300,292 $16,236,459 
Less goodwill350,353 350,353 350,353 350,353 350,353 
Less intangibles, net25,870 27,611 29,415 31,284 33,216 
Tangible assets$16,717,768 $16,418,137 $16,088,671 $15,918,655 $15,852,890 
Tangible common equity
Total common shareholders’ equity$1,933,646 $1,936,531 $1,973,873 $1,948,165 $1,978,043 
Less goodwill350,353 350,353 350,353 350,353 350,353 
Less intangibles, net25,870 27,611 29,415 31,284 33,216 
Tangible common equity$1,557,423 $1,558,567 $1,594,105 $1,566,528 $1,594,474 
Common shares outstanding49,443,360 49,976,755 51,418,024 51,752,401 53,456,522 
Book value per common share$39.11 $38.75 $38.39 $37.64 $37.00 
Tangible book value per common share$31.50 $31.19 $31.00 $30.27 $29.83 
Total common shareholders’ equity to total assets11.3%11.5%12.0%12.0%12.2%
Tangible common equity to tangible assets9.32%9.49%9.91%9.84%10.1%
On-balance sheet liquidity:
Cash and cash equivalents$1,017,689 $1,112,357 $1,157,763 $1,155,895 $1,280,033 
Unpledged securities731,483 691,290 637,182 649,000 608,716 
Equity securities, at fair value5,759 6,000 — 155 1,450 
Total on-balance sheet liquidity$1,754,931 $1,809,647 $1,794,945 $1,805,050 $1,890,199 
On-balance sheet liquidity as a percentage of total
     assets		10.3%10.8%10.9%11.1%11.6%
On-balance sheet liquidity as a percentage of total
      tangible assets		10.5%11.0%11.2%11.3%11.9%
FB Financial Corporation
23

Non-GAAP Reconciliations (continued)
(Unaudited)
(Dollars in Thousands)
Three Months EndedNine Months Ended
Adjusted return on average
   tangible common equity and
   related measures		Sep 2026Jun 2026Mar 2026Dec 2025Sep 2025Sep 2026Sep 2025
Average common shareholders’
   equity		$1,951,116$1,987,199$1,965,877$1,956,633$1,977,785$1,968,010$1,716,391
Less average goodwill350,353350,353350,353350,353350,355350,353278,887
Less average intangibles, net26,78228,63130,39432,30134,98328,58915,175
Average tangible common equity$1,573,981$1,608,215$1,585,130$1,573,979$1,592,447$1,589,068$1,422,329
Net income$60,202$58,649$57,526$56,977$23,375$176,377$65,645
Return on average common equity12.2%11.8%11.9%11.6%4.69%12.0%5.11%
Return on average tangible
   common equity		15.2%14.6%14.7%14.4%5.82%14.8%6.17%
Adjusted tangible net income$62,224$60,239$59,653$62,923$59,144$182,116$141,025
Adjusted return on average tangible common equity15.7%15.0%15.3%15.9%14.7%15.3%13.3%

Three Months EndedNine Months Ended
Adjusted return on average assets, common equity and related measuresSep 2026Jun 2026Mar 2026Dec 2025Sep 2025Sep 2026Sep 2025
Net income $60,202$58,649$57,526$56,977$23,375$176,377$65,645
Average assets16,735,77716,334,01416,258,27216,151,19516,007,78816,444,43714,092,675
Average common equity1,951,1161,987,1991,965,8771,956,6331,977,7851,968,0101,716,391
Return on average assets1.43%1.44%1.43%1.40%0.58%1.43%0.62%
Return on average common equity12.2%11.8%11.9%11.6%4.69%12.0%5.11%
Adjusted net income$60,937$58,905$58,271$61,494$57,606$178,113$138,535
Adjusted return on average assets1.44%1.45%1.45%1.51%1.43%1.45%1.31%
Adjusted return on average
   common equity		12.4%11.9%12.0%12.5%11.6%12.1%10.8%
Adjusted pre-tax pre-provision net
   revenue		$79,446$83,607$78,184$77,118$80,980$241,237$191,763
Adjusted pre-tax pre-provision
   return on average assets		1.88%2.05%1.95%1.89%2.01%1.96%1.82%
FB Financial Corporation
24
October 13, 2026 2026 Third Quarter Earnings Presentation

 

1 Forward–looking statements Certain statements contained in this Presentation that are not historical in nature may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements represent the Company’s current expectations, plans or forecasts of its or its business segments’ future results, which may include, among other measures, revenue, liquidity, net interest income, other income, provision for credit losses, expenses, operating leverage, effective tax rate, efficiency ratio, capital measures, deposits and assets, as well as strategy, future business and economic conditions more generally, and other future matters. These statements can generally be identified by the use of the words and phrases “may,” “will,” “should,” “could,” “would,” “goal,” “plan,” “potential,” “estimate,” “project,” “believe,” “intend,” “anticipate,” “expect,” “target,” “aim,” “predict,” “continue,” “seek,” and other variations of such words and phrases and similar expressions. These forward-looking statements are not historical facts, and are based upon management’s current expectations, estimates, and projections, many of which, by their nature, are inherently uncertain and beyond the Company’s control. The inclusion of these forward-looking statements should not be regarded as a representation by the Company or any other person that such expectations, estimates, and projections will be achieved. Accordingly, the Company cautions shareholders and investors that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions, and uncertainties that are difficult to predict. Actual results may prove to be materially different from the results expressed or implied by the forward-looking statements. A number of factors could cause actual results to differ materially from those contemplated by the forward-looking statements including, without limitation, (1) current and future economic conditions, including the effects of inflation, interest rate fluctuations, changes in the economy or global supply chain, supply-demand imbalances affecting local real estate prices, and high unemployment rates in the local or regional economies in which the Company operates and/or the US economy generally, (2) changes or the lack of changes in government interest rate policies and the associated impact on the Company’s business, net interest margin, funding costs, and mortgage operations, (3) increased competition for loans and deposits and the Company’s ability to sustain loan and deposit growth, (4) changes in the quality or composition of the Company’s loan or investment portfolios, including adverse developments in borrower industries or in the repayment ability of individual borrowers or issuers of investment securities, the impact of interest rates on the value of the Company’s investment securities portfolio, or the adequacy of the Company’s allowance for credit losses, (5) any deterioration in commercial real estate market fundamentals, (6) the Company’s ability to identify potential candidates for, consummate, and achieve synergies from acquisitions, including risks that cost savings and other synergies from completed or future acquisitions may not be realized (or may be less than or delayed from expectations), challenges in integrating acquired businesses, disruptions to customer, employee, or other relationships, diversion of management attention, and the ability to effectively manage larger or more complex operations post-transaction, (7) the Company’s ability to manage any unexpected outflows of uninsured deposits and to avoid selling investment securities or other assets at an unfavorable time or at a loss, (8) the Company’s ability to successfully execute its various business strategies, including its investments in talent and growth initiatives and the effect of those investments on expenses and operating leverage, (9) changes in state and federal legislation, regulations or policies applicable to banks and other financial service providers, and changes in accounting standards, (10) the effectiveness of the Company’s controls and procedures to detect, prevent, mitigate and otherwise manage the risk of fraud or misconduct by internal or external parties, including attempted physical-security and cybersecurity attacks, denial-of-service attacks, hacking, phishing, social-engineering attacks, malware intrusion, data-corruption attempts, system breaches, identity theft, ransomware attacks, environmental conditions, and intentional acts of destruction, (11) the Company’s dependence on information technology systems of third-party service providers and the risk of systems failures, interruptions, or breaches of security, (12) the impact, extent and timing of technological changes, including the adoption and use of artificial intelligence and other emerging technologies, (13) concentrations of credit or deposit exposure, (14) the impact of natural disasters, pandemics, acts or escalation of war or acts of terrorism, or other catastrophic events, (15) events giving rise to international or regional political instability, including the broader impacts of such events on financial markets and/or global macroeconomic environments, (16) the Company’s ability to attract and retain key employees in a competitive labor market, (17) the Company’s ability to access capital and liquidity on terms acceptable to the Company, to effectively deploy capital, including the proceeds of its recent subordinated debt issuance, and the amount and timing of any future share repurchases, (18) changes to the Company’s preliminary regulatory capital ratios as they are finalized, and/or (19) general competitive, economic, political, and market conditions. Further information regarding the Company and factors which could affect the forward-looking statements contained herein can be found in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, and in any of the Company’s subsequent filings with the SEC. Many of these factors are beyond the Company’s ability to control or predict. If one or more events related to these or other risks or uncertainties materialize, or if the underlying assumptions prove to be incorrect, actual results may differ materially from the forward-looking statements. Accordingly, shareholders and investors should not place undue reliance on any such forward-looking statements. Any forward-looking statement speaks only as of the date of this Presentation, and the Company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law. New risks and uncertainties may emerge from time to time, and it is not possible for the Company to predict their occurrence or how they will affect the Company. The Company qualifies all forward-looking statements by these cautionary statements.

 

2 Use of non-GAAP financial measures This Presentation contains certain financial measures that are not measures recognized under U.S. generally accepted accounting principles (“GAAP”) and therefore are considered non-GAAP financial measures. These non-GAAP financial measures may include, without limitation, adjusted net income, adjusted diluted earnings per common share, adjusted pre-tax pre-provision net revenue, consolidated and segment adjusted revenue, consolidated and segment adjusted noninterest expense and adjusted noninterest income, consolidated and segment adjusted efficiency ratio (tax-equivalent basis), adjusted return on average assets and equity, and adjusted pre-tax pre-provision return on average assets. Each of these non-GAAP metrics excludes certain income and expense items that the Company’s management does not consider indicative of the Company's ongoing operating performance. The Company refers to these non-GAAP measures as adjusted measures. Also, the Company presents tangible assets, tangible common equity, tangible book value per common share, tangible common equity to tangible assets, on-balance sheet liquidity to tangible assets, return on average tangible common equity, and adjusted return on average tangible common equity. Each of these non-GAAP metrics excludes the impact of goodwill and other intangibles. The Company’s management uses these non-GAAP financial measures in their analysis of the Company’s performance, financial condition and the efficiency of its operations as management believes such measures facilitate period-to-period comparisons and provide meaningful indications of the Company’s operating performance as they eliminate both gains and charges that management views as non-recurring or not indicative of operating performance. Management believes that these non-GAAP financial measures provide a greater understanding of ongoing operations and enhance comparability of results with prior periods as well as demonstrate the effects of significant gains and charges excluded from the adjusted measures in the current and prior periods. The Company’s management also believes that investors find these non-GAAP financial measures useful as they assist investors in understanding the Company’s underlying operating performance and in the analysis of ongoing operating trends. In addition, because intangible assets such as goodwill and the other items excluded each vary extensively from company to company, the Company believes that the presentation of this information allows investors to more easily compare the Company’s results to the results of other companies. However, the non-GAAP financial measures discussed herein should not be considered in isolation or as a substitute for the most directly comparable or other financial measures calculated in accordance with GAAP. Moreover, the manner in which the Company calculates the non-GAAP financial measures discussed herein may differ from that of other companies reporting measures with similar names. Investors should understand how such other banking organizations calculate their financial measures with names similar to the non-GAAP financial measures the Company has discussed herein when comparing such non-GAAP financial measures. See the corresponding non-GAAP reconciliation tables below in this Presentation for additional discussion and reconciliation of these measures to the most directly comparable GAAP financial measures.

 

3 3Q 2026 Results 1 Non-GAAP financial measure; See “Use of non-GAAP Financial Measures” and Non-GAAP reconciliations herein. Key highlights Earnings • Net income of $60.2 million or $60.9 million (adjusted)1 • Returns remain strong and within Company’s target ranges • Higher net interest income (NII); deposit cost pressures remain • ~$1mm drag on NII for nonaccrual interest reversal • Mortgage income impacted by sharp rate increases in the quarter • Lower provision expense with improved macro economic outlook Balance Sheet • Loans (HFI) balances increased 9.68% annualized • Deposit balances increased 8.82% annualized; client deposits increased 11.0% annualized • Growth mix spread across Commercial & Consumer customers Credit • ACL coverage ratio of 1.47% • Annualized net charge-offs of 0.04% • Modest credit costs and loan growth drive lower ratios in Q3 Capital • Completed $125 million growth capital subordinated debt issuance • 9.32% Tangible Common Equity to Tangible Assets ratio1 • Continued capital deployment through share repurchases • Minimal unrealized securities losses and no HTM securities Reported Adjusted1 Diluted earnings per common share $1.20 $1.21 Pre-Tax Pre-Provision Net Revenue ($mm) $78.5 $79.4 Net interest margin (tax-equivalent basis) 3.83% 3.83% Efficiency Ratio 55.0% 54.3% Return on average assets 1.43% 1.44% Return on average tangible common equity1 15.2% 15.7%

 

4 3Q 2026 Earnings Quarter ended $ Change from $ in thousands, except per share data 3Q26 2Q26 3Q25 2Q26 3Q25 Total Revenue 174,486 174,752 173,875 (266) 611 Provision for credit losses 1,424 10,116 34,417 (8,692) (32,993) Noninterest Expense 96,034 91,480 109,856 4,554 (13,822) Pre-tax income 77,028 73,156 29,602 3,872 47,426 Income tax expense 16,826 14,499 6,227 2,327 10,599 Noncontrolling Interest - 8 - (8) - Net income 60,202 58,649 23,375 1,553 36,827 Total non-gaap adjustments1 735 256 34,231 479 (33,496) Adjusted net income2 60,937 58,905 57,606 2,032 3,331 Diluted earnings per share $ 1.20 $ 1.13 $ 0.43 $ 0.07 $ 0.77 Adjusted diluted earnings per share2 $ 1.21 $ 1.14 $ 1.07 $ 0.07 $ 0.14 Non-GAAP Reconciliation $ in thousands 3Q26 Income before income taxes 77,028 Less loss from securities, net (241) Less loss on sales or write-downs of premises and equipment, other real estate owned and other assets, net (34) Plus loan subservicer transition costs 719 Less income tax expense, adj for items above 17,085 Adjusted Net Income2 60,937 Net Income 60,202 Total non-gaap adjustments1 735 1 Non-GAAP financial measure; Represents the aggregate total of items that comprise the difference between Net Income and Adjusted Net Income. See “Use of non-GAAP Financial Measures” and Non-GAAP reconciliations herein. 2 Non-GAAP financial measure; See “Use of non-GAAP Financial Measures” and Non-GAAP reconciliations herein. • Revenue stable in the quarter – • Supported by growing loan balances, stronger fees on swaps & investment services • Revenue negatively impacted by lower mortgage income and nonaccrual interest reversal • Modest provision expense and increased NIE on higher performance-based incentives • Higher tax expense the result of favorable Q2 impact of tax credit purchase

 

5 Driving shareholder value ¹ Non-GAAP financial measure; See “Use of non-GAAP Financial Measures” and Non-GAAP reconciliations herein. 2 3Q26 calculation is preliminary and subject to change. $2.57 $2.48 $2.45 $3.43 $3.01 $3.40 $3.99 $3.47 2023 2024 2025 2026 YTD Earnings per share Adjusted earnings per share Earnings per Share $14 $14 $20 $22 $25 $27 $30 $28 $31 $34 $38 $39 $12 $12 $15 $17 $19 $22 $25 $23 $26 $28 $30 $32 3Q16 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 3Q26 BVPS TBVPS 13.6% 13.2% 13.4% 12.9% 13.6% 3Q25 4Q25 1Q26 2Q26 3Q26 $81.0 $77.1 $78.2 $83.6 $79.4 3Q25 4Q25 1Q26 2Q26 3Q26 Book Value per Share Total RBC Ratio2 NPLs / Total Loans HFIAdjusted ROATCE1Adjusted PPNR1 (in millions) 1 1 $1,594 $1,567 $1,594 $1,559 $1,557 14.7% 15.9% 15.3% 15.0% 15.7% 3Q25 4Q25 1Q26 2Q26 3Q26 Tangible Common Equity Adj ROATCE11 0.94% 0.97% 0.96% 1.17% 1.18% 3Q25 4Q25 1Q26 2Q26 3Q26

 

6 Net Interest Margin $148.1 $150.6 $146.8 $149.8 $150.8 3.95% 3.98% 3.94% 3.95% 3.83% 3Q25 4Q25 1Q26 2Q26 3Q26 FTE NII / NIM Trend ($ millions) Net Interest Income (NII) Net Interest Margin (NIM) Highlights Net Interest Income Rollforward ($ in thousands) 2Q26 Net Interest Income $ 149,788 Impact of changes in loans (excl nonaccrual interest) 5,365 Impact of reversal of nonaccrual interest (1,024) Impact of changes in deposit volumes (2,805) Impact of changes in deposit rates (1,969) Impact of day count 1,637 Impact of all other changes (185) 3Q26 Net Interest Income $ 150,807 • NII increased in the quarter driven by strong loan growth and the benefit of 1 additional day in the quarter • NIM impacted by pressure on deposit costs, coupled with a 3 bps decline from an interest reversal on a nonaccrual loan • Contractual rates on loans held steady at 6.21% compared to 6.22% in the prior quarter

 

7 Noninterest Income & Expense $109.9 $91.5 $96.0 63.2% 52.3% 55.0% 3Q25 2Q26 3Q26 Noninterest Expense ($ millions) Noninterest Expense Efficiency Ratio $93.5 $91.5 $95.3 53.3% 52.0% 54.3% 3Q25 2Q26 3Q26 Adj. Noninterest Expense ($ millions) Adj. Noninterest Expense Adj. Efficiency Ratio $26.6 $25.8 $24.5 $27.3 $26.2 $24.8 3Q25 2Q26 3Q26 Noninterest Income ($ millions) Noninterest Income Adj. Noninterest Income Highlights 1 1 Non-GAAP financial measure; See "Use of non-GAAP Financial Measures” and Non-GAAP reconciliations herein. 1 1 1 Noninterest income: • Mortgage banking income decreased by $1.7mm from higher market rates & lower customer demand during the quarter, coupled with lower sales volumes • Swap fee income up $516k from increased customer interest rate risk management activity • Investment services and trust income increased $414k driven growth in assets under management Noninterest expense: • Higher performance-based compensation expenses of ~$2.4mm • $719k one-time charge for mortgage loan subservicer transition costs reflected in unadjusted figures • Other increases include Advertising & Data Processing

 

8 Loans HFI $12.30 $12.38 $12.50 $12.87 $13.18 6.75% 6.64% 6.51% 6.48% 6.42% 3Q25 4Q25 1Q26 2Q26 3Q26 Loans HFI / Total Yield ($ billions) Loans HFI Total Loan HFI Yield 1-4 family 16% 1-4 family HELOC 6% Multifamily 6% C&D 9% CRE 23% C&I 34% Other 6% Portfolio Mix $13.2 Billion 1 C&I includes owner-occupied CRE. 2 Excludes owner-occupied CRE. Note: Loan yield shown above includes a tax-equivalent adjustment using combined federal and blended state statutory income tax rate of 26.06%. 1 2 • Total Loans HFI up $314 million, or 9.68% annualized • Key growth categories include – • +$134 million in Resi First 1-4 • +$92 million in Commercial Real Estate • +$42 million in Multifamily • +$19 million in Construction • Loan yields lower on reversal of nonaccrual loan interest and lower accretion on purchased loans • Contractual rates on loans steady (down 1 bps)

 

9 Office 16% Retail 19% Hotel 17% Warehouse/Industrial 22% Land-Manufactured Housing 4% Self Storage 5% Healthcare Facility 2% Assisted Living Facility 7% Other 8% Residential Development 30% Commercial 41% Consumer 20% Multifamily 9% Construction 23% Land 5% Lots 2% Diversified loan portfolio CRE2 exposure by type Note: Data as of September 30, 2026. 1 C&I includes owner-occupied CRE. 2 Excludes owner-occupied CRE. 3Includes certain “assignment of catalog” lending which pertains to a security interest in a borrower’s intellectual property, at FirstBank this most notably applies to music catalogs. C&D exposure by type C&I1 Exposure by Industry ($ millions) Industry C&I CRE-OO Total % of Total Real estate rental and leasing $320 $272 $592 13% Retail trade 108 439 547 12% Manufacturing 244 293 537 12% Finance and insurance 355 17 372 8% Other services (except public administration) 84 286 370 8% Wholesale trade 196 98 294 7% Construction 198 90 288 6% Accommodation and food services 74 199 273 6% Health care and social assistance 52 213 265 6% Transportation and warehousing 131 94 225 5% Professional, scientific and technical services 123 60 183 4% Arts, entertainment and recreation 75 78 153 3% Administrative and support and waste management and remediation services 91 29 120 3% Information3 90 14 104 2% Other 118 100 218 5% Total $2,259 $2,282 $4,541 100% Land 20% Self Storage 2% Other 17% Construction 13% Land 7% Office 2%

 

10 Nashville 40% Memphis 6%Knoxville 3%Huntsville 6% Birmingham 15% Chattanooga 1% Other 7% Atlanta 9% Communities 13% Class A 22% Class B 42% Class C 12% Under $2 Million 24% Office exposure Geographic exposure Note: Data as of September 30, 2026. Data is only non-owner occupied CRE & C&D loans. Data excludes medical office buildings. Credit detail by class Class Outstanding ($mm) Avg. Balance ($mm) Wtd. Avg. LTV Wtd. Avg Occupancy Class A > $2 million $113.8 $8.1 57.5% 89.3% Class B > $2 million 215.8 5.4 63.2% 80.1% Class C > $2 million 61.5 6.2 64.1% 82.7% Total > $2 million $391.1 $6.1 61.7% 83.2% Total < $2 million 123.7 0.6 N/A N/A Total Office $514.8 $1.8 N/A N/A Exposure by class • Office loans as of 3Q26 – • Represent ~4% of total Loans HFI population • 98% of portfolio is pass rated and current • 12% (or $59.5mm) of portfolio matures by year-end 2026 • 51% fixed rate & 49% floating rate • Continuous monitoring of office loans greater than $2 million shows minimal concerns • Projects generally characterized by 25-30% cash equity requirement, loan to value maximums of 70%-75% at origination, and requests for guarantors

 

11 Valuable deposit base Cost of deposits 19.5% 18.9% 18.9% 19.3% 18.9% 2.53% 2.40% 2.27% 2.26% 2.32% 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% 3Q25 4Q25 1Q26 2Q26 3Q26 Noninterest-bearing as % of total deposits Cost of total deposits (%) Deposits by customer segment ($billions) • Deposit growth driven by new customer acquisition in both Consumer & Commercial • Lower brokered deposits driven by managed runoff of maturating balances • Deposit costs up 6 bps as deposit competition and market rates increase Highlights Noninterest -bearing checking 19% Interest- bearing checking 18% Money market & savings 43% Time 20% 37% Checking accounts Deposit composition $6.0 $6.1 $6.1 $6.0 $6.2 $6.0 $6.2 $6.1 $6.3 $6.8 $1.8 $1.7 $1.9 $2.0 $1.7 $13.8 $14.0 $14.1 $14.3 $14.7 3Q25 4Q25 1Q26 2Q26 3Q26 Consumer Commercial Public Total

 

12 $34,417 $1,232 $3,024 $10,116 $1,424 0.05% 0.05% 0.11% 0.06% 0.04% 3Q25 4Q25 1Q26 2Q26 3Q26 Provision for Credit Losses & Net Charge Offs ($ thousands) Provision for Credit Losses NCO Ratio (ann.) Asset Quality Metrics • Reserve levels remained steady – improved economic forecast largely offsets the reserves on new loans • Lower ACL coverage ratio on modest provision and strong loan growth in the quarter • Net charge-offs & Nonperforming asset ratios remain stable $185.0 $186.0 $186.3 $194.0 $194.0 1.50% 1.50% 1.49% 1.51% 1.47% 3Q25 4Q25 1Q26 2Q26 3Q26 Allowance for Credit Losses & Coverage Ratio ($ millions) ACL ACL Coverage Ratio 13Q25 provision expense includes the impact of day one provision for non-PCD acquired loans and unfunded commitments. 2Includes other real estate owned and repossessed assets–see page 13 of the 3Q26 Financial Supplement. Highlights 2 1 0.76% 0.80% 0.78% 0.95% 0.96% 0.13% 0.17% 0.20% 0.19% 0.17%0.89% 0.97% 0.98% 1.14% 1.13% 3Q25 4Q25 1Q26 2Q26 3Q26 Nonperforming Assets / Total Assets Other NPAs Optional GNMA repurchase

 

13 1.50% 1.21% 1.18% 0.96% 2.33% 1.60% 1.78% 1.48% 3.35% 1.51% 1.16% 1.39% 0.89% 2.37% 1.51% 1.77% 1.27% 3.29% 1.47% 1.14% 1.36% 0.86% 2.27% 1.45% 1.76% 1.23% 3.12% Gross Loans HFI Commercial & Industrial Non-Owner Occ CRE Owner Occ CRE Construction Multifamily 1-4 Family Mortgage 1-4 Family HELOC Consumer & Other 3Q25 2Q26 3Q26 Allowance Modeling & Reserve Allocation ACL on loans HFI / Loans HFI by category Key forecast inputs1 4Q26 1Q27 2Q27 3Q27 National Unemployment Rate 4.38 4.67 4.85 4.95 CRE Price Index 0.58 0.58 0.52 0.35 National Housing Price Index (0.31) 0.28 (2.27) (0.84) Prime Rate 6.73 6.73 6.70 6.65 1 Source: Moody’s “August 2026 U.S. Macroeconomic Outlook” with scenario weighting, with the exception of the National Housing Price Index which also incorporates components of the Mortgage Bankers Association Mortgage Finance Forecast. • Impacts from economic and geopolitical concerns began to moderate in the quarter • Improved economic forecast driven by near-term economic resilience • CRE price index and unemployment forecasts improved in the quarter • Utilized a weighted approach in ACL economic forecast • 1.47% ACL coverage at period end

 

14 Capital & Liquidity Simple Capital Structure Common Equity Tier 1 Capital 81% Subordinated Notes 10% Tier 2 ACL 9% Total regulatory capital: $2,042 1 Non-GAAP financial measure; See "Use of non-GAAP Financial Measures” and Non-GAAP reconciliations herein. 2 3Q26 calculation is preliminary and subject to change. 3 Includes capacity from internal policy and does not include loans held at the REIT that could be pledged for additional capacity. On-balance sheet liquidity ($mm) $1,890 $1,805 $1,795 $1,810 $1,755 11.9% 11.3% 11.2% 11.0% 10.5% 3Q25 4Q25 1Q26 2Q26 3Q26 On-balance sheet liquidity On-balance sheet liquidity / tangible assets Capital Position 3Q25 2Q26 3Q26 Shareholder’s Equity/Assets 12.2% 11.5% 11.3% TCE/TA1 10.1% 9.49% 9.32% Common Equity Tier 12 11.7% 11.0% 11.0% Tier 1 Risk-Based2 11.7% 11.0% 11.0% Total Risk-Based2 13.6% 12.9% 13.6% AOCI Adjusted Ratios:1,2 Adj. Common Equity Tier 1 10.7% Adj. Total Risk-Based 13.3% 1 • Capital and liquidity levels remain strong and well- above required regulatory thresholds • Capital position strengthened by $125 million subordinated debt issuance in Q3 • ~ 545 thousand shares repurchased totaling $29 million in the quarter • 3Q available sources of liquidity include $1.8 billion on-balance sheet and $8.6 billion in total other sources

 

15 Securities Portfolio • Securities portfolio is ~9% of Total Assets • Favorable securities portfolio structure – • No Held-to-Maturity (HTM) Securities • ~$60 million in unrealized losses in AOCI, net of tax • Low unrealized losses at only ~3% of Total Equity • Portfolio stats: • 3.93% weighted average yield • ~2.7 years effective duration • Fixed/Floating split of 39%/61% $1.5 Billion U.S. Government Agency Securities 51% Residential MBS 37% Municipal Securities 10% All Other 2% Favorable portfolio mix with 61% floating rate Highlights Securities Portfolio Composition

 

16 TCE/TA 13.4% 13.2% 11.2% 11.1% 11.0% 10.7% 9.9% 9.7% 9.6% 9.6% 9.5% 9.5% 9.1% 9.0% 9.0% 8.9% 8.3% 7.9% 7.7% Stated CET1 Peer median: 9.6% 15.5% 16.3% 20.4% 13.4% 12.8% 11.8% 17.1% 13.3% 11.9% 12.5% 13.8% 11.0% 11.1% 11.5% 11.2% 11.6% 12.3% 12.9% 11.5% AOCI + HTM SECURITIES MARKS / TOTAL EQUITY (SORTED LOW TO HIGH) 0.7% 1.8% 1.9% 3.4% 3.4% 4.3% 4.8% 5.1% 5.3% 5.6% 7.6% 8.5% 10.1% 10.2% 11.0% 11.5% 12.4% 14.0% Peer median: 5.6% 22.6% Clean balance sheet, limited mark-to-market loss position Peer 4 Peer 4Peer 1 Peer 1 Peer 2 Peer 2 Peer 3 Peer 3 Peer 5 Peer 5 Peer 6 Peer 6 Peer 7 Peer 7 Peer 8 Peer 8 Peer 9 Peer 9 Peer 10 Peer 10 Peer 11 Peer 11 Peer 12 Peer 12 Peer 13 Peer 13 Peer 14 Peer 14 Peer 15 Peer 15 Peer 16 Peer 16 Peer 17 Peer 17 Peer 18 Peer 18 Strong Balance Sheet Supports Capital Flexibility AOCI + HTM Securities Marks / Total Equity (Sorted Low to High) • Investment portfolio remains key differentiator – clean balance sheet supported by minimal unrealized securities losses and no HTM securities portfolio exposure • TCE/TA remains near the peer median while maintaining higher-quality capital profile with minimal embedded securities losses • High-quality capital base and resilient earnings profile provides meaningful capacity to support growth, strategic investments, and future capital deployment Q2 2026 Peer Comparison (all data shown below for peer analysis, including FBK, is as of 6/30/26)

 

17 Mortgage results • One-time charge for subservicer transitions costs of $719k weighs on segment’s GAAP profitability in Q3 • Mortgage segment adjusted pre-tax income of ~$64 thousand, or GAAP loss of $655 thousand including the one-time item • Revenues impacted by lower sales volumes in the quarter, coupled with slowing customer demand amid the sharp increase in market rates 2.69% 2.97% 2.89% 2.49% 3.54% 3Q25 4Q25 1Q26 2Q26 3Q26 Interest rate lock commitment volume ($mm) Mortgage gain on sale margin $342 $279 $366 $380 $285 $90 $107 $124 $56 $45 $432 $386 $490 $436 $330 3Q25 4Q25 1Q26 2Q26 3Q26 Purchase Refinance Highlights Mortgage Banking Segment ($ thousands) 3Q25 2Q26 3Q26 Total Revenue $ 15,938 $ 14,917 $ 13,335 Provision for loan losses 347 977 443 Noninterest expense 12,887 12,361 13,547 Pre-tax net contribution (loss) after allocations 2,704 1,579 (655) Total Assets 637,830 780,407 861,546 Efficiency Ratio 80.9% 82.9% 101.6% Adj Efficiency Ratio1 80.9% 83.6% 96.5% 1 Non-GAAP financial measure; See "Use of non-GAAP Financial Measures” and Non-GAAP reconciliations herein.

 

18 Appendix

 

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

 

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

 

21 GAAP reconciliations and use of non-GAAP financial measures Adjusted pre-tax pre-provision net revenue

 

22 GAAP reconciliations and use of non-GAAP financial measures Adjusted pre-tax pre-provision net revenue

 

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

 

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

 

25 GAAP reconciliations and use of non-GAAP financial measures Adjusted total risk-based capital

 

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

 

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

 

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

 

29 GAAP reconciliations and use of non-GAAP financial measures Mortgage segment core efficiency ratio (tax-equivalent basis)

 

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

 

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

 

32 GAAP reconciliations and use of non-GAAP financial measures Adjusted return on average tangible common equity and related measures

 

33 GAAP reconciliations and use of non-GAAP financial measures Adjusted return on average tangible common equity and related measures

 

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

 

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

 

Source: View Original Filing on SEC EDGAR

Filing Exhibits & Attachments

6 documents

Press Releases

Other Documents

Keep reading

More on FBK

All FBK news

Trending in the feed

TCRT
Paragon Labs Expands Leadership Team with Former Apogee Executives; Velaris Therapeutics Acquired by Alaunos Therapeutics, Inc. Open the live feed