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FB Financial (NYSE: FBK) lifts Q2 2026 profit, grows loans 30% year over year

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

FB Financial Corporation reported strong second-quarter 2026 results. Net income was $58.6 million, or $1.13 per diluted share, up from $1.10 in the prior quarter and $0.06 a year earlier. Adjusted net income was $58.9 million, or $1.14 per diluted share.

Adjusted pre-tax pre-provision net revenue reached $83.6 million, up 6.94% from the prior quarter and 42.6% year over year. Loans held for investment grew to $12.87 billion from $12.50 billion in March 2026 and $9.87 billion a year earlier, while deposits rose to $14.35 billion from $14.08 billion and $11.40 billion over the same periods. Net interest margin was 3.95%, slightly above 3.94% in the prior quarter.

The bank reported an efficiency ratio of 52.3% and an adjusted efficiency ratio of 52.0%, both improved from the prior quarter. Credit costs remained modest with annualized net charge-offs of 0.06% of average loans, though nonperforming loans increased to 1.17% of loans. Capital remained solid, with a preliminary common equity Tier 1 ratio of 11.0% and tangible common equity to tangible assets of 9.49%. FB Financial repurchased 1,546,707 shares, or 3.01% of common shares outstanding, during the quarter.

Positive

  • Net income surged 174.8% year over year for the first half of 2026, rising to $116.2 million from $42.3 million, supported by higher net interest income and lower securities-related losses.
  • Adjusted pre-tax pre-provision net revenue grew 42.6% year over year in Q2 2026 to $83.6 million, highlighting stronger core earnings power.
  • Loans and deposits expanded strongly, with loans HFI up 30.3% and total deposits up 25.8% year over year, while maintaining a 3.95% net interest margin.

Negative

  • Nonperforming loans increased to 1.17% of loans HFI in Q2 2026 from 0.96% in the prior quarter, and nonperforming assets rose to 1.14% of total assets, reflecting several credits migrating to nonaccrual status.
  • Capital ratios trended lower, with tangible common equity to tangible assets declining to 9.49% from 10.4% a year earlier, partly reflecting balance sheet growth and share repurchases.

Filing Explained

The completed buyback reduced period-end common shares to 49,976,755, while second-quarter results and supporting exhibits remain furnished rather than Section 18-filed.

The July 13 Form 8-K reports FB Financial’s unaudited second-quarter results for the period ended June 30, 2026 and furnishes the related earnings materials; the results are reported, while the discussion call remains scheduled for July 14, 2026.

Second-quarter net income was $58.6 million, or $1.13 per diluted common share, with loans held for investment of $12.87 billion and total deposits of $14.35 billion at quarter-end.

The company repurchased 1,546,707 common shares during the quarter, reducing period-end common shares outstanding to 49,976,755; this is a completed share reduction rather than a new issuance in this filing.

Credit metrics also changed during the quarter: nonperforming loans rose to 1.17% of loans held for investment from 0.96%, while the allowance for credit losses on those loans was $194.0 million, or 1.51% of loans.

As of quarter-end, on-balance-sheet liquidity was $1,809,647 thousand and separately disclosed available sources of liquidity were $8,400,242 thousand; the filing presents these as liquidity resources, not as proceeds received from a financing.

The earnings release, financial supplement, and presentation are furnished as exhibits and the filing states that they are not treated as filed for Section 18 liability or incorporated by reference unless expressly referenced in a later filing.

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, and exhibit attachments filed with this report.
Q2 2026 Net Income $58.6 million Net income applicable to FB Financial Corporation for the quarter ended June 30, 2026
Q2 2026 Diluted EPS $1.13 Diluted earnings per common share for the quarter ended June 30, 2026
Adjusted Pre-tax Pre-provision Net Revenue $83.6 million Adjusted PTPPNR in Q2 2026, up 6.94% from Q1 2026 and 42.6% from Q2 2025
Loans Held for Investment $12.87 billion Loans HFI outstanding at June 30, 2026
Total Deposits $14.35 billion Total deposits as of June 30, 2026
Net Interest Margin 3.95% Tax-equivalent net interest margin for Q2 2026
Nonperforming Loans Ratio 1.17% Nonperforming loans HFI as a percentage of loans HFI at June 30, 2026
Share Repurchases 1,546,707 shares Common shares repurchased in Q2 2026, 3.01% of common shares outstanding
pre-tax pre-provision net revenue financial
"The Company reported adjusted pre-tax pre-provision net revenue* of $83.6 million for the second quarter of 2026"
Pre-tax pre-provision net revenue is a banking measure of how much money a firm generates from its core activities — mainly interest earned minus interest paid, plus other income, minus operating costs — before taking out taxes and setting aside reserves for potential loan losses. Think of it as a shop’s gross operating cash flow before it pays taxes or puts money aside for customers who might not pay; investors use it to judge underlying earning power and how much cushion a bank has against credit problems.
tangible common equity financial
"Tangible common equity to tangible assets* was 9.49% at June 30, 2026"
Tangible common equity is the portion of a company’s net worth that belongs to ordinary shareholders after removing intangible items (like goodwill or patents) and any preferred claims; it’s often expressed on a per-share basis. Think of it as the hard, sellable value left for common owners if you removed non-physical assets and paid off debts—investors use it to judge how much real cushion a company has and whether the stock might be under- or over-valued.
net interest margin financial
"Net interest margin (“NIM”) was 3.95% for the second quarter of 2026"
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.
nonperforming assets financial
"Nonperforming assets as a percentage of total assets were higher at 1.14% as of the end of the second quarter of 2026"
Nonperforming assets are loans or investments that are not generating expected payments or returns because the borrower has fallen behind on payments or the investment has lost value. They matter to investors because a high level of nonperforming assets can indicate financial trouble for a bank or institution, potentially affecting its stability and profitability.
allowance for credit losses financial
"Allowance for credit losses on loans HFI of $194.0 million, representing 1.51% of loans HFI"
Allowance for credit losses is a reserve set aside by a financial institution to cover potential losses from borrowers who may not repay their loans. It acts like a safety net, helping the institution prepare for loans that might turn sour. For investors, it signals how cautious the institution is about the quality of its loans and potential risks to its financial health.
Net income $58.6 million Q2 2026 vs Q2 2025 increased from $2.9 million to $58.6 million
Diluted EPS $1.13 Q2 2026 vs Q2 2025 increased from $0.06 to $1.13
Adjusted diluted EPS $1.14 Q2 2026 vs Q2 2025 increased from $0.88 to $1.14
Adjusted PTPPNR $83.6 million Jun 26 / Mar 26 % Change 6.94%; Jun 26 / Jun 25 % Change 42.6%
Net interest income (tax-equivalent) $149.8 million Up from $146.8 million in the prior quarter

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

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FAQ

How did FBK perform financially in the second quarter of 2026?
FB Financial reported Q2 2026 net income of $58.6 million, or $1.13 diluted EPS, versus $57.5 million, or $1.10, in Q1 2026 and $2.9 million, or $0.06, in Q2 2025.

What were FBK’s key profitability metrics for Q2 2026?
For Q2 2026, FB Financial posted a ROAA of 1.44%, ROE of 11.8%, and ROATCE of 14.6%. On an adjusted basis, ROAA was 1.45% and adjusted ROATCE was 15.0%.

What is FBK’s net interest margin and revenue mix in Q2 2026?
Net interest margin on a tax-equivalent basis was 3.95% in Q2 2026. Net interest income was $149.8 million (tax-equivalent), and total revenue reached $174.8 million for the quarter.

How strong is FBK’s capital position as of June 30, 2026?
FB Financial reported a preliminary total risk-based capital ratio of 12.9%, Tier 1 and CET1 ratios of 11.0%, and a tangible common equity to tangible assets ratio of 9.49% at June 30, 2026.

Did FBK repurchase any shares in Q2 2026?
Yes. FB Financial repurchased 1,546,707 common shares in Q2 2026, representing 3.01% of its common shares outstanding, as part of its capital deployment strategy.

What is the credit quality picture for FBK in Q2 2026?
Allowance for credit losses on loans HFI was $194.0 million, or 1.51% of loans. Annualized net charge-offs were 0.06% of average loans, while nonperforming loans HFI rose to 1.17% of loans HFI.
false000164974900016497492026-07-132026-07-13

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): July 13, 2026
FB FINANCIAL CORPORATION
(Exact name of registrant as specified in its charter)

Tennessee 001-37875 62-1216058
(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 July 13, 2026, FB Financial Corporation (“FB Financial”) issued a press release announcing its financial results for the second quarter ended June 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 July 14, 2026, FB Financial will host a conference call to discuss financial results for the quarter ended June 30, 2026.

On July 13, 2026, FB Financial made available on its website (investors.firstbankonline.com) supplemental financial information for the second quarter ended June 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 June 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.

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 July 13, 2026
99.2
Financial Supplement for the quarter ended June 30, 2026
99.3
Earnings Presentation dated July 14, 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: July 13, 2026
  



fb_suppa01a.jpg
FB Financial Corporation Reports Second Quarter 2026 Financial Results
Reports Q2 Diluted EPS of $1.13, Adjusted Diluted EPS* of $1.14
Annualized Q2 Loan HFI and Deposit Growth of 11.6% and 7.70%, respectively
Repurchased 3.01% of Common Shares Outstanding in Q2
NASHVILLE, TENNESSEE—July 13, 2026—FB Financial Corporation (the “Company”) (NYSE: FBK), parent company of FirstBank, reported net income of $58.6 million, or $1.13 per diluted common share, for the second quarter of 2026, compared to $1.10 in the previous quarter and $0.06 in the second quarter of last year. Adjusted net income* was $58.9 million, or $1.14 per diluted common share, compared to $1.12 in the previous quarter and $0.88 in the second quarter of last year. The Company reported adjusted pre-tax pre-provision net revenue* of $83.6 million for the second quarter of 2026, reflecting increases of 6.94% and 42.6% from $78.2 million and $58.6 million in the previous quarter and second quarter of last year, respectively.
The Company ended the second quarter of 2026 with loans held for investment (“HFI”) of $12.87 billion compared to $12.50 billion at the end of the previous quarter, an 11.6% annualized increase, and $9.87 billion at the end of the second quarter of last year, a 30.3% increase. Deposits were $14.35 billion as of June 30, 2026, compared to $14.08 billion as of March 31, 2026, a 7.70% annualized increase, and $11.40 billion as of June 30, 2025, a 25.8% increase. Net interest margin (“NIM”) was 3.95% for the second quarter of 2026, compared to 3.94% in the prior quarter and 3.68% in the second quarter of 2025. The Company ended the quarter with book value per common share of $38.75 and tangible book value per common share* of $31.19.
President and Chief Executive Officer, Christopher T. Holmes stated, “The quarter’s results showed strong organic growth, highlighted by double-digit loan growth, solid core earnings and stability in our net interest margin. Our results reflect the strength of our franchise and our focus on generating consistent, long-term value for shareholders. The repurchase of 3.01% of our outstanding shares during the quarter reflects our confidence in the long-term value of the franchise and our disciplined approach to capital deployment. As we look to the second half of the year, we are well positioned to continue creating value for our customers and shareholders.”
Annualized
(dollars in thousands, except per share data)Jun 2026Mar 2026Jun 2025Jun 26 / Mar 26
% Change		Jun 26 / Jun 25
% Change
Balance Sheet Highlights
     Investment securities, at fair value$1,527,093 $1,498,547 $1,337,565 7.64 %14.2 %
     Loans held for sale198,089 231,359 144,212 (57.7)%37.4 %
     Loans HFI12,865,510 12,503,815 9,874,282 11.6 %30.3 %
     Allowance for credit losses on loans HFI(194,010)(186,324)(148,948)16.5 %30.3 %
     Total assets16,796,101 16,468,439 13,354,238 7.98 %25.8 %
     Interest-bearing deposits (non-brokered)10,886,056 10,838,139 8,692,848 1.77 %25.2 %
     Brokered deposits685,902 574,216 518,719 78.0 %32.2 %
     Noninterest-bearing deposits2,775,208 2,664,480 2,191,903 16.7 %26.6 %
     Total deposits14,347,166 14,076,835 11,403,470 7.70 %25.8 %
     Borrowings314,513 213,188 164,485 190.6 %91.2 %
     Allowance for credit losses on unfunded
         commitments		15,859 15,398 12,932 12.0 %22.6 %
     Total common shareholders’ equity1,936,531 1,973,873 1,611,130 (7.59)%20.2 %
Book value per common share$38.75 $38.39 $35.17 3.76 %10.2 %
Tangible book value per common share*$31.19 $31.00 $29.78 2.46 %4.73 %
Total common shareholders’ equity to total assets11.5 %12.0 %12.1 %
Tangible common equity to tangible assets*9.49 %9.91 %10.4 %
*This represents a non-GAAP financial measure; A reconciliation of non-GAAP measures to the most directly comparable GAAP measure is included in the Company’s Second Quarter 2026 Financial Supplement as Exhibit 99.2 to the Company’s Current Report on Form 8-K furnished to the SEC on July 13, 2026 and is also available at https://investors.firstbankonline.com.
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FB Financial Corporation
Second Quarter 2026 Results
Page 2
Three Months Ended
(dollars in thousands, except per share data)Jun 2026Mar 2026Jun 2025
Statement of Income Highlights
Net interest income$148,972 $145,965 $111,415 
      NIM (tax-equivalent basis)3.95 %3.94 %3.68 %
Noninterest income (loss)$25,780 $26,375 $(34,552)
     Gain (loss) from securities, net$— $1 $(60,549)
     (Loss) gain on sales or write-downs of premises and equipment, other real estate
         owned and other assets, net		$(377)$(320)$236 
     Cash life insurance benefit $— $763 $— 
Total revenue$174,752 $172,340 $76,863 
Noninterest expense$91,480 $95,164 $81,261 
(Gain) loss on lease terminations and other branch closure costs$(42)$5 $— 
Merger and integration costs$— $1,447 $2,734 
Efficiency ratio 52.3 %55.2 %105.7 %
      Adjusted efficiency ratio*52.0 %54.3 %56.9 %
Pre-tax pre-provision net revenue$83,272 $77,176 $(4,398)
Adjusted pre-tax pre-provision net revenue*$83,607 $78,184 $58,649 
Provisions for credit losses$10,116 $3,024 $5,337 
Net charge-offs ratio0.06 %0.11 %0.02 %
Net income applicable to FB Financial Corporation$58,649 $57,526 $2,909 
Diluted earnings per common share$1.13 $1.10 $0.06 
       Effective tax rate19.8 %22.4 %130.0 %
Adjusted net income*$58,905 $58,271 $40,821 
Adjusted diluted earnings per common share*$1.14 $1.12 $0.88 
Weighted average number of shares outstanding - fully diluted51,693,688 52,203,469 46,179,090 
Returns on average:
     Return on average total assets (“ROAA”)
1.44 %1.43 %0.09 %
         Adjusted*1.45 %1.45 %1.26 %
     Return on average shareholders’ equity11.8 %11.9 %0.74 %
     Return on average tangible common equity (“ROATCE”)*
14.6 %14.7 %0.87 %
Adjusted*15.0 %15.3 %12.4 %
*This represents a non-GAAP financial measure; A reconciliation of non-GAAP measures to the most directly comparable GAAP measure is included in the Company’s Second Quarter 2026 Financial Supplement as Exhibit 99.2 to the Company’s Current Report on Form 8-K furnished to the SEC on July 13, 2026 and is also available at https://investors.firstbankonline.com.
Balance Sheet and Net Interest Margin
The Company reported loans HFI of $12.87 billion at the end of the second quarter of 2026, compared to $12.50 billion at the end of the prior quarter. The contractual yield on loans HFI remained stable at 6.22% for both the second quarter of 2026 and the previous quarter. Net growth in loans was driven by increases in commercial real estate loans of $195.1 million, residential real estate loans of $146.5 million, commercial and industrial loans of $20.6 million and consumer and other loans of $18.6 million, offset by a decline of $19.1 million in construction loans.
The Company reported total deposits of $14.35 billion at the end of the second quarter compared to $14.08 billion at the end of the first quarter. The cost of interest-bearing deposits increased to 2.81% from 2.80% in the previous quarter. Total cost of deposits decreased to 2.26% during the second quarter compared to 2.27% in the first quarter of 2026. Lower costs were driven primarily by deposit mix, reflecting growth of noninterest-bearing deposits and stability in our indexed deposit products. Noninterest-bearing deposits were $2.78 billion at the end of the quarter compared to $2.66 billion at the end of the first quarter of 2026, an annualized increase of 16.7%.
The Company reported net interest income on a tax-equivalent basis of $149.8 million for the second quarter of 2026, an increase from $146.8 million in the prior quarter. NIM increased to 3.95% for the second quarter from 3.94% in the prior quarter, while net accretion from purchase accounting adjustments contributed 13 basis points to margin during the second quarter.
Holmes continued, “We were pleased with our balance sheet performance during the second quarter, which drove an increase in net interest income and meaningful growth in pre-tax pre-provision earnings. We enter the second half of the year with strong momentum and a balance sheet well positioned to support continued growth and profitability.”
Noninterest Income
Adjusted noninterest income* was $26.2 million for the second quarter of 2026, compared to $25.9 million and $25.8 million for the prior quarter and second quarter of 2025, respectively.
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FB Financial Corporation
Second Quarter 2026 Results
Page 3
Mortgage banking income was $11.2 million in the second quarter of 2026, compared to $12.3 million in the prior quarter and $13.0 million in the second quarter of 2025.
Noninterest Expense
Adjusted noninterest expense* during the second quarter of 2026 was $91.5 million compared to $93.7 million for the prior quarter and $78.5 million for the second quarter of 2025. During the second quarter of 2026, the Company’s adjusted efficiency ratio*1was 52.0%, compared to 54.3% in the previous quarter and 56.9% in the second quarter of 2025.
Chief Financial Officer Michael Mettee commented, “The second quarter delivered meaningful growth in pre-tax pre-provision earnings, supported by strong loan production, stable margin performance, and disciplined expense management. We generated positive operating leverage, improved our efficiency ratio, and further demonstrated the earnings power of our franchise. We managed expenses well in a competitive personnel environment and remain focused on executing consistently and delivering sustained earnings growth.”
Credit Quality
In the second quarter, the Company recorded provision expense of $9.7 million related to loans HFI and $0.5 million associated with unfunded loan commitments. At the end of the second quarter of 2026, the Company had an allowance for credit losses on loans HFI of $194.0 million, representing 1.51% of loans HFI compared to $186.3 million, or 1.49% of loans HFI, at the end of the prior quarter.
The Company had net charge-offs of $2.0 million in the second quarter of 2026, representing annualized net charge-offs of 0.06% of average loans HFI, compared to 0.11% in the prior quarter and 0.02% in the second quarter of 2025.
The Company’s nonperforming loans HFI as a percentage of total loans HFI increased to 1.17% as of the end of the second quarter of 2026, compared to 0.96% in the prior quarter and 0.97% in the second quarter of 2025. The increase was primarily concentrated in three lending relationships that migrated to nonperforming status during the quarter. Two of these relationships are reflected within the Company’s individually evaluated reserves, while the third is well-collateralized and continues to be actively managed. Nonperforming assets as a percentage of total assets were higher at 1.14% as of the end of the second quarter of 2026, compared to 0.98% at the end of the prior quarter and 0.92% as of the end of the second quarter of 2025, reflecting the impact of these same relationships.
Holmes commented, “Credit losses remained low during the second quarter consistent with recent quarters. The allowance for credit losses increased primarily related to the strong loan growth and reserves on two individually assessed loans. Maintaining discipline in our underwriting and risk management practices continues to produce a stable and high performing credit portfolio.”
Capital
The Company maintained its strong capital position in the second quarter, resulting in a preliminary total risk-based capital ratio of 12.9%, preliminary common equity tier 1 ratio of 11.0% and tangible common equity to tangible assets ratio* of 9.49%. The Company repurchased 1,546,707 shares during the quarter.
Holmes continued, “Our capital position remains a significant strength for FirstBank. During the quarter, we returned capital to shareholders through share repurchases while continuing to support strong organic growth. Our balanced approach to capital deployment provides the flexibility to invest in future growth opportunities while continuing to create long-term value for shareholders.”
Summary
Holmes finalized, “The second quarter reflected the strength of our franchise and the consistency of our execution. We generated solid loan growth, continued improving our funding profile, enhanced efficiency, maintained stable credit performance, and produced balanced, high-quality earnings. We remain well-positioned for the opportunities ahead and are focused on investing in our people, supporting our clients, and executing on our strategic priorities.”
WEBCAST AND CONFERENCE CALL INFORMATION
FB Financial Corporation will host a conference call to discuss the Company’s financial results on July 14, 2026, at 8:00 a.m. (Central Time). To listen to the call, participants should dial 1-877-883-0383 (confirmation code 6281660) approximately 10 minutes prior to the call. A telephonic replay will be available approximately two hours after the call through July 21, 2026, by dialing 1-855-669-9658 and entering confirmation code 3893345.
*This represents a non-GAAP financial measure;1A reconciliation of non-GAAP measures to the most directly comparable GAAP measure is included in the Company’s Second Quarter 2026 Financial Supplement as Exhibit 99.2 to the Company’s Current Report on Form 8-K furnished to the SEC on July 13, 2026 and is also available at https://investors.firstbankonline.com.

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FB Financial Corporation
Second Quarter 2026 Results
Page 4
A live online broadcast of the Company’s quarterly conference call will be available online at https://event.choruscall.com/mediaframe/webcast.html?webcastid=8Q57Atkm. An online replay will be available on the Company’s website approximately two hours after the conclusion of the call and will remain available for 12 months.
ABOUT FB FINANCIAL CORPORATION
FB Financial Corporation (NYSE: FBK) is a financial holding company headquartered in Nashville, Tennessee. FB Financial Corporation operates through its wholly owned banking subsidiary, FirstBank, in Tennessee, Kentucky, Alabama, and Georgia. FB Financial Corporation has approximately $16.8 billion in total assets and operates 90 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 Second 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 Second 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 July 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. These forward-looking statements include, without limitation, statements regarding the Company’s future plans, results, strategies, and expectations, including expectations around changing economic markets. These statements can generally be identified by the use of the words and phrases “may,” “will,” “should,” “could,” “would,” “goal,” “plan,” “potential,” “estimate,” “project,” “believe,” “intend,” “anticipate,” “expect,” “target,” “aim,” “predict,” “continue,” “seek,” and other variations of such words and phrases and similar expressions. These forward-looking statements are not historical facts, and are based upon management’s current expectations, estimates, and projections, many of which, by their nature, are inherently uncertain and beyond the Company’s control. The inclusion of these forward-looking statements should not be regarded as a representation by the Company or any other person that such expectations, estimates, and projections will be achieved. Accordingly, the Company cautions shareholders and investors that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions, and uncertainties that are difficult to predict. Actual results may prove to be materially different from the results expressed or implied by the forward-looking statements. A number of factors could cause actual results to differ materially from those contemplated by the forward-looking statements including, without limitation, (1) current and future economic conditions, including the effects of inflation, interest rate fluctuations, changes in the economy or global supply chain, supply-demand imbalances affecting local real estate prices, and high unemployment rates in the local or regional economies in which the Company operates and/or the US economy generally, (2) changes or the lack of changes in government interest rate policies and the associated impact on the Company’s business, net interest margin, and mortgage operations, (3) increased competition for deposits, (4) changes in the quality or composition of the Company’s loan or investment portfolios, including adverse developments in borrower industries or in the repayment ability of individual borrowers or issuers of investment securities, or the impact of interest rates on the value of our investment securities portfolio, (5) any deterioration in commercial real estate market fundamentals, (6) the Company’s ability to identify potential candidates for, consummate, and achieve synergies from acquisitions, including risks that cost savings and other synergies from completed or future 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, (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
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FB Financial Corporation
Second Quarter 2026 Results
Page 5
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 us, and/or (18) 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 non-adjusted gains and charges in the current and prior periods. The Company’s management also believes that investors find these non-GAAP financial measures useful as they assist investors in understanding the Company’s underlying operating performance and in the analysis of ongoing operating trends. In addition, because intangible assets such as goodwill and the other items excluded each vary extensively from company to company, the Company believes that the presentation of this information allows investors to more easily compare the Company’s results to the results of other companies. However, the non-GAAP financial measures discussed herein should not be considered in isolation or as a substitute for the most directly comparable or other financial measures calculated in accordance with GAAP. Moreover, the manner in which the Company calculates the non-GAAP financial measures discussed herein may differ from that of other companies reporting measures with similar names. Investors should understand how such other banking organizations calculate their financial measures with names similar to the non-GAAP financial measures the Company has discussed herein when comparing such non-GAAP financial measures.
A reconciliation of these non-GAAP measures to the most directly comparable GAAP financial measures is included in the Company’s Second Quarter 2026 Financial Supplement as Exhibit 99.2 to the Company’s Current Report on Form 8-K furnished to the SEC on July 13, 2026 and is also available at https://investors.firstbankonline.com.
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FB Financial Corporation
Second Quarter 2026 Results
Page 6
Financial Summary and Key Metrics
(Unaudited)
(dollars in thousands, except per share data)
As of or for the Three Months Ended
Jun 2026Mar 2026Jun 2025
Selected Balance Sheet Data
Cash and cash equivalents$1,112,357 $1,157,763 $1,165,729 
Investment securities, at fair value1,527,093 1,498,547 1,337,565 
Loans held for sale198,089 231,359 144,212 
Loans HFI12,865,510 12,503,815 9,874,282 
Allowance for credit losses on loans HFI(194,010)(186,324)(148,948)
Total assets16,796,101 16,468,439 13,354,238 
Interest-bearing deposits (non-brokered)10,886,056 10,838,139 8,692,848 
Brokered deposits685,902 574,216 518,719 
Noninterest-bearing deposits2,775,208 2,664,480 2,191,903 
Total deposits14,347,166 14,076,835 11,403,470 
Borrowings314,513 213,188 164,485 
Allowance for credit losses on unfunded commitments15,859 15,398 12,932 
Total common shareholders’ equity1,936,531 1,973,873 1,611,130 
Selected Statement of Income Data
Total interest income$229,438 $225,350 $182,084 
Total interest expense80,466 79,385 70,669 
Net interest income148,972 145,965 111,415 
Total noninterest income (loss)25,780 26,375 (34,552)
Total noninterest expense91,480 95,164 81,261 
Earnings (losses) before income taxes and provisions for credit losses83,272 77,176 (4,398)
Provisions for credit losses10,116 3,024 5,337 
Income tax expense (benefit)14,499 16,626 (12,652)
Net income applicable to noncontrolling interest8 — 8 
Net income applicable to FB Financial Corporation$58,649 $57,526 $2,909 
Net interest income (tax-equivalent basis)$149,788 $146,774 $112,236 
Adjusted net income*$58,905 $58,271 $40,821 
Adjusted pre-tax, pre-provision net revenue*$83,607 $78,184 $58,649 
Per Common Share
Diluted net income$1.13 $1.10 $0.06 
Adjusted diluted net income*1.14 1.12 0.88 
Book value38.75 38.39 35.17 
Tangible book value*31.19 31.00 29.78 
Weighted average number of shares outstanding - fully diluted51,693,688 52,203,469 46,179,090 
Period-end number of shares 49,976,755 51,418,024 45,807,689 
Selected Ratios
Return on average:
Assets1.44 %1.43 %0.09 %
Shareholders’ equity11.8 %11.9 %0.74 %
Tangible common equity*14.6 %14.7 %0.87 %
Efficiency ratio 52.3 %55.2 %105.7 %
Adjusted efficiency ratio (tax-equivalent basis)*52.0 %54.3 %56.9 %
Loans HFI to deposit ratio89.7 %88.8 %86.6 %
Noninterest-bearing deposits to total deposits 19.3 %18.9 %19.2 %
Net interest margin (tax-equivalent basis)3.95 %3.94 %3.68 %
Yield on interest-earning assets6.07 %6.07 %5.99 %
Cost of interest-bearing liabilities2.84 %2.83 %3.13 %
Cost of total deposits2.26 %2.27 %2.48 %
Credit Quality Ratios
Allowance for credit losses on loans HFI as a percentage of loans HFI1.51 %1.49 %1.51 %
Annualized net charge-offs as a percentage of average loans HFI0.06 %0.11 %0.02 %
Nonperforming loans HFI as a percentage of loans HFI1.17 %0.96 %0.97 %
Nonperforming assets as a percentage of total assets
1.14 %0.98 %0.92 %
Preliminary Capital Ratios (consolidated)
Total common shareholders’ equity to assets11.5 %12.0 %12.1 %
Tangible common equity to tangible assets*9.49 %9.91 %10.4 %
Tier 1 leverage10.1 %10.4 %11.3 %
Tier 1 risk-based capital
11.0 %11.5 %12.6 %
Total risk-based capital
12.9 %13.4 %14.7 %
Common equity Tier 1
11.0 %11.5 %12.3 %
*This represents a non-GAAP financial measure; A reconciliation of non-GAAP measures to the most directly comparable GAAP measure is included in the Company’s Second Quarter 2026 Financial Supplement as Exhibit 99.2 to the Company’s Current Report on Form 8-K furnished to the SEC on July 13, 2026 and is also available at https://investors.firstbankonline.com.
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logoa07.jpg

 
 
Second Quarter 2026
Financial Supplement



TABLE OF CONTENTS
 
 Page
  
Financial Summary and Key Metrics
4
  
Consolidated Statements of Income
5
 
Consolidated Balance Sheets
7
 
Average Balance and Interest Yield/Rate Analysis
8
 
Investments and Other Sources of Liquidity
11
  
Loan Portfolio
12
  
Asset Quality
13
 
Selected Deposit Data
 14
 
Preliminary Capital Ratios
15
  
Segment Data
16
 
Non-GAAP Reconciliations
17



Use of non-GAAP Financial Measures
 
This Financial Supplement contains certain financial measures that are not measures recognized under U.S. generally accepted accounting principles (“GAAP”) and therefore are considered non-GAAP financial measures. These non-GAAP financial measures may include, without limitation, adjusted net income, adjusted diluted earnings per common share, adjusted pre-tax pre-provision net revenue, consolidated and segment adjusted revenue, consolidated and segment adjusted noninterest expense and adjusted noninterest income, consolidated and segment adjusted efficiency ratio (tax-equivalent basis), adjusted return on average assets and equity, and adjusted pre-tax pre-provision return on average assets. Each of these non-GAAP metrics excludes certain income and expense items that the Company’s management considers to be adjusted in nature. The Company refers to these non-GAAP measures as adjusted measures. Also, the Company presents tangible assets, tangible common equity, tangible book value per common share, tangible common equity to tangible assets, on-balance sheet liquidity to tangible assets, return on average tangible common equity, and adjusted return on average tangible common equity. Each of these non-GAAP metrics excludes the impact of goodwill and other intangibles.
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 non-adjusted gains and charges in the current and prior periods. The Company’s management also believes that investors find these non-GAAP financial measures useful as they assist investors in understanding the Company’s underlying operating performance and in the analysis of ongoing operating trends. In addition, because intangible assets such as goodwill and the other items excluded each vary extensively from company to company, the Company believes that the presentation of this information allows investors to more easily compare the Company’s results to the results of other companies. However, the non-GAAP financial measures discussed herein should not be considered in isolation or as a substitute for the most directly comparable or other financial measures calculated in accordance with GAAP. Moreover, the manner in which the Company calculates the non-GAAP financial measures discussed herein may differ from that of other companies reporting measures with similar names. Investors should understand how such other banking organizations calculate their financial measures with names similar to the non-GAAP financial measures the Company has discussed herein when comparing such non-GAAP financial measures. See the corresponding non-GAAP reconciliation tables below in this 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
Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025
Selected Balance Sheet Data
Cash and cash equivalents$1,112,357 $1,157,763 $1,155,895 $1,280,033 $1,165,729 
Investment securities, at fair value1,527,093 1,498,547 1,459,734 1,428,401 1,337,565 
Loans held for sale198,089 231,359 201,076 167,449 144,212 
Loans HFI12,865,510 12,503,815 12,383,626 12,297,600 9,874,282 
Allowance for credit losses on loans HFI(194,010)(186,324)(185,983)(184,993)(148,948)
Total assets16,796,101 16,468,439 16,300,292 16,236,459 13,354,238 
Interest-bearing deposits (non-brokered)10,886,056 10,838,139 10,649,932 10,634,555 8,692,848 
Brokered deposits685,902 574,216 625,634 487,765 518,719 
Noninterest-bearing deposits2,775,208 2,664,480 2,634,395 2,690,635 2,191,903 
Total deposits14,347,166 14,076,835 13,909,961 13,812,955 11,403,470 
Borrowings314,513 213,188 212,764 213,638 164,485 
Allowance for credit losses on unfunded commitments15,859 15,398 16,196 17,392 12,932 
Total common shareholders' equity1,936,531 1,973,873 1,948,165 1,978,043 1,611,130 
Selected Statement of Income Data
Total interest income$229,438 $225,350 $235,238 $236,898 $182,084 
Total interest expense80,466 79,385 85,434 89,658 70,669 
Net interest income148,972 145,965 149,804 147,240 111,415 
Total noninterest income (loss)25,780 26,375 28,795 26,635 (34,552)
Total noninterest expense91,480 95,164 107,548 109,856 81,261 
Earnings (losses) before income taxes and provisions for credit
   losses		83,272 77,176 71,051 64,019 (4,398)
Provisions for credit losses10,116 3,024 1,232 34,417 5,337 
Income tax expense (benefit)14,499 16,626 12,834 6,227 (12,652)
Net income applicable to noncontrolling interest8 — 8 — 8 
Net income applicable to FB Financial Corporation$58,649 $57,526 $56,977 $23,375 $2,909 
Net interest income (tax-equivalent basis)$149,788 $146,774 $150,642 $148,088 $112,236 
Adjusted net income*$58,905 $58,271 $61,494 $57,606 $40,821 
Adjusted pre-tax, pre-provision net revenue*$83,607 $78,184 $77,118 $80,980 $58,649 
Per Common Share
Diluted net income$1.13 $1.10 $1.07 $0.43 $0.06 
Adjusted diluted net income*1.14 1.12 1.16 1.07 0.88 
Book value38.75 38.39 37.64 37.00 35.17 
Tangible book value*31.19 31.00 30.27 29.83 29.78 
Weighted average number of shares outstanding - fully diluted51,693,688 52,203,469 53,074,753 53,957,062 46,179,090 
Period-end number of shares 49,976,755 51,418,024 51,752,401 53,456,522 45,807,689 
Selected Ratios
Return on average:
Assets1.44 %1.43 %1.40 %0.58 %0.09 %
Shareholders’ equity11.8 %11.9 %11.6 %4.69 %0.74 %
Tangible common equity*14.6 %14.7 %14.4 %5.82 %0.87 %
Efficiency ratio 52.3 %55.2 %60.2 %63.2 %105.7 %
Adjusted efficiency ratio (tax-equivalent basis)*52.0 %54.3 %56.3 %53.3 %56.9 %
Loans HFI to deposit ratio89.7 %88.8 %89.0 %89.0 %86.6 %
Noninterest-bearing deposits to total deposits 19.3 %18.9 %18.9 %19.5 %19.2 %
Net interest margin (NIM) (tax-equivalent basis)3.95 %3.94 %3.98 %3.95 %3.68 %
Yield on interest-earning assets6.07 %6.07 %6.23 %6.35 %5.99 %
Cost of interest-bearing liabilities2.84 %2.83 %3.02 %3.21 %3.13 %
Cost of total deposits2.26 %2.27 %2.40 %2.53 %2.48 %
Credit Quality Ratios
Allowance for credit losses on loans HFI as a percentage of loans HFI1.51 %1.49 %1.50 %1.50 %1.51 %
Annualized net charge-offs as a percentage of average loans HFI0.06 %0.11 %0.05 %0.05 %0.02 %
Nonperforming loans HFI as a percentage of loans HFI1.17 %0.96 %0.97 %0.94 %0.97 %
Nonperforming assets as a percentage of total assets1.14 %0.98 %0.97 %0.89 %0.92 %
Preliminary Capital Ratios (consolidated)
Total common shareholders’ equity to assets11.5 %12.0 %12.0 %12.2 %12.1 %
Tangible common equity to tangible assets*9.49 %9.91 %9.84 %10.1 %10.4 %
Tier 1 leverage10.1 %10.4 %10.3 %10.6 %11.3 %
Tier 1 risk-based capital 11.0 %11.5 %11.4 %11.7 %12.6 %
Total risk-based capital 12.9 %13.4 %13.2 %13.6 %14.7 %
Common equity Tier 1 11.0 %11.5 %11.4 %11.7 %12.3 %
*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)
  Jun 2026Jun 2026
  vs.vs.
 Three Months EndedMar 2026Jun 2025
Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025Percent variance Percent variance
Interest income:
Interest and fees on loans$206,434 $201,257 $209,734 $209,307 $159,697 2.57 %29.3 %
Interest on investment securities
Taxable13,804 13,575 14,380 14,395 14,661 1.69 %(5.85)%
Tax-exempt1,066 1,054 1,058 1,058 1,036 1.14 %2.90 %
Other8,134 9,464 10,066 12,138 6,690 (14.1)%21.6 %
Total interest income229,438 225,350 235,238 236,898 182,084 1.81 %26.0 %
Interest expense:
Deposits78,768 77,878 83,813 86,577 68,568 1.14 %14.9 %
Borrowings1,698 1,507 1,621 3,081 2,101 12.7 %(19.2)%
Total interest expense80,466 79,385 85,434 89,658 70,669 1.36 %13.9 %
Net interest income148,972 145,965 149,804 147,240 111,415 2.06 %33.7 %
Provision for (reversal of) credit losses on loans HFI9,655 3,822 2,428 29,957 (1,102)152.6 %(976.1)%
Provision for (reversal of) credit losses on unfunded
   commitments		461 (798)(1,196)4,460 6,439 (157.8)%(92.8)%
Net interest income after provisions for credit
   losses		138,856 142,941 148,572 112,823 106,078 (2.86)%30.9 %
Noninterest income:
Mortgage banking income11,170 12,253 13,505 13,484 13,029 (8.84)%(14.3)%
Investment services and trust income4,517 4,348 4,473 4,227 3,922 3.89 %15.2 %
Service charges on deposit accounts4,468 4,376 4,184 4,049 3,392 2.10 %31.7 %
ATM and interchange fees3,274 2,977 3,146 3,388 2,878 9.98 %13.8 %
Gain (loss) from securities, net— 1 64 12 (60,549)(100.0)%(100.0)%
(Loss) gain on sales or write-downs of premises and
   equipment, other real estate owned and other assets, net
(377)(320)(131)(646)236 17.8 %(259.7)%
Other income2,728 2,740 3,554 2,121 2,540 (0.44)%7.40 %
Total noninterest income (loss)25,780 26,375 28,795 26,635 (34,552)(2.26)%(174.6)%
Total revenue174,752 172,340 178,599 173,875 76,863 1.40 %127.4 %
Noninterest expenses:
Salaries, commissions and employee benefits53,332 57,348 63,529 59,210 46,631 (7.00)%14.4 %
Occupancy and equipment expense7,617 7,476 7,239 7,539 6,710 1.89 %13.5 %
Advertising2,556 2,148 2,464 2,453 2,178 19.0 %17.4 %
Data processing 2,352 2,454 2,809 2,457 2,161 (4.16)%8.84 %
Legal and professional fees1,882 1,980 2,503 1,227 2,426 (4.95)%(22.4)%
Amortization of core deposits and other intangibles1,804 1,869 1,932 2,079 631 (3.48)%185.9 %
Merger and integration costs— 1,447 4,611 16,057 2,734 (100.0)%(100.0)%
Other expense21,937 20,442 22,461 18,834 17,790 7.31 %23.3 %
Total noninterest expense91,480 95,164 107,548 109,856 81,261 (3.87)%12.6 %
Income (loss) before income taxes73,156 74,152 69,819 29,602 (9,735)(1.34)%(851.5)%
Income tax expense (benefit) 14,499 16,626 12,834 6,227 (12,652)(12.8)%(214.6)%
Net income applicable to FB Financial
Corporation and noncontrolling interest
58,657 57,526 56,985 23,375 2,917 1.97 %NM
Net income applicable to noncontrolling interest8 — 8 — 8 100.0 %— %
Net income applicable to FB Financial
Corporation
$58,649 $57,526 $56,977 $23,375 $2,909 1.95 %NM
Weighted average common shares outstanding:  
Basic51,358,070 51,724,458 52,621,950 53,627,997 45,946,428 (0.71)%11.8 %
Fully diluted51,693,688 52,203,469 53,074,753 53,957,062 46,179,090 (0.98)%11.9 %
Earnings per common share:  
Basic$1.14 $1.11 $1.08 $0.44 $0.06 2.70 %NM
Fully diluted1.13 1.10 1.07 0.43 0.06 2.73 %NM
Fully diluted - adjusted*1.14 1.12 1.16 1.07 0.88 1.79 %29.5 %
*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)
   Jun 2026
 vs.
 Six Months EndedJun 2025
 Jun 2026Jun 2025Percent variance
Interest income:
Interest and fees on loans$407,691 $312,882 30.3 %
Interest on investment securities
Taxable27,379 29,132 (6.02)%
Tax-exempt2,120 2,069 2.46 %
Other17,598 17,707 (0.62)%
Total interest income454,788 361,790 25.7 %
Interest expense:
Deposits156,646 138,817 12.8 %
Borrowings3,205 3,917 (18.2)%
Total interest expense159,851 142,734 12.0 %
Net interest income294,937 219,056 34.6 %
Provision for credit losses on loans HFI13,477 804 NM
(Reversal of) provision for credit losses on unfunded commitments(337)6,825 (104.9)%
Net interest income after provisions for credit losses281,797 211,427 33.3 %
Noninterest income:
Mortgage banking income23,423 25,455 (7.98)%
Investment services and trust income8,865 7,633 16.1 %
Service charges on deposit accounts8,844 6,871 28.7 %
ATM and interchange fees6,251 5,555 12.5 %
Gain (loss) from securities, net1 (60,533)(100.0)%
Loss on sales or write-downs of premises and equipment, other real estate owned and other assets, net(697)(389)79.2 %
Other income5,468 3,888 40.6 %
Total noninterest income (loss)52,155 (11,520)(552.7)%
Total revenue347,092 207,536 67.2 %
Noninterest expenses:
Salaries, commissions and employee benefits110,680 94,982 16.5 %
Occupancy and equipment expense15,093 13,307 13.4 %
Merger and integration costs1,447 3,135 (53.8)%
Data processing 4,806 4,474 7.42 %
Advertising4,704 4,665 0.84 %
Legal and professional fees3,862 4,418 (12.6)%
Amortization of core deposit and other intangibles3,673 1,287 185.4 %
Other expense42,379 34,542 22.7 %
Total noninterest expense186,644 160,810 16.1 %
Income before income taxes147,308 39,097 276.8 %
Income tax expense (benefit)31,125 (3,181)NM
Net income applicable to noncontrolling interest and FB Financial Corporation116,183 42,278 174.8 %
Net income applicable to noncontrolling interests8 8 — %
Net income applicable to FB Financial Corporation$116,175 $42,270 174.8 %
Weighted average common shares outstanding: 
Basic51,540,252 46,308,551 11.3 %
Fully diluted51,931,419 46,570,848 11.5 %
Earnings per common share:
Basic$2.25 $0.91 147.3 %
Fully diluted2.24 0.91 146.2 %
Fully diluted - adjusted*2.26 1.74 29.9 %
*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
6

Consolidated Balance Sheets
(Unaudited)
(Dollars in Thousands)
  Annualized 
  Jun 2026Jun 2026
  vs.vs.
As ofMar 2026Jun 2025
Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025Percent variance Percent variance
ASSETS
Cash and due from banks$147,034 $159,883 $196,213 $154,286 $143,317 (32.2)%2.59 %
Federal funds sold and reverse repurchase agreements
228,861 199,009 213,391 283,451 352,124 60.2 %(35.0)%
Interest-bearing deposits in financial institutions736,462 798,871 746,291 842,296 670,288 (31.3)%9.87 %
Cash and cash equivalents1,112,357 1,157,763 1,155,895 1,280,033 1,165,729 (15.7)%(4.58)%
Investments:
Available-for-sale debt securities, at fair value1,521,093 1,498,547 1,459,579 1,426,951 1,337,565 6.03 %13.72 %
Equity securities, at fair value6,000 — 155 1,450 — (100.0)%(100.0)%
Restricted equity securities, at cost87,572 79,458 79,046 36,231 33,626 41.0 %160.4 %
Loans held for sale198,089 231,359 201,076 167,449 144,212 (57.7)%37.4 %
Loans held for investment12,865,510 12,503,815 12,383,626 12,297,600 9,874,282 11.6 %30.3 %
Less: allowance for credit losses on loans HFI194,010 186,324 185,983 184,993 148,948 16.5 %30.3 %
Net loans held for investment12,671,500 12,317,491 12,197,643 12,112,607 9,725,334 11.5 %30.3 %
Premises and equipment, net180,058 181,268 182,370 183,595 147,243 (2.68)%22.3 %
Other real estate owned, net5,544 6,449 6,009 4,466 2,998 (56.3)%84.9 %
Operating lease right-of-use assets47,535 48,223 49,249 51,035 47,764 (5.72)%(0.48)%
Interest receivable58,792 59,837 58,565 60,755 50,386 (7.00)%16.7 %
Mortgage servicing rights, at fair value145,374 147,344 148,795 149,840 153,464 (5.36)%(5.27)%
Bank-owned life insurance111,184 110,484 111,865 113,374 72,686 2.54 %53.0 %
Goodwill350,353 350,353 350,353 350,353 242,561 — %44.4 %
Core deposit and other intangibles, net27,611 29,415 31,284 33,216 4,475 (24.6)%517.0 %
Other assets273,039 250,448 268,408 265,104 226,195 36.2 %20.7 %
Total assets$16,796,101 $16,468,439 $16,300,292 $16,236,459 $13,354,238 7.98 %25.8 %
LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities:
Deposits
Noninterest-bearing$2,775,208 $2,664,480 $2,634,395 $2,690,635 $2,191,903 16.7 %26.6 %
Interest-bearing checking2,479,291 2,642,713 2,651,369 2,458,625 2,325,551 (24.8)%6.61 %
Money market and savings5,786,480 5,886,370 5,969,640 5,968,094 4,645,552 (6.81)%24.6 %
Customer time deposits2,620,285 2,309,056 2,028,923 2,206,790 1,721,745 54.1 %52.2 %
Brokered and internet time deposits685,902 574,216 625,634 488,811 518,719 78.0 %32.2 %
Total deposits14,347,166 14,076,835 13,909,961 13,812,955 11,403,470 7.70 %25.8 %
Borrowings314,513 213,188 212,764 213,638 164,485 190.6 %91.2 %
Operating lease liabilities57,940 59,106 60,556 62,664 59,289 (7.91)%(2.28)%
Accrued expenses and other liabilities139,858 145,344 168,753 169,066 115,771 (15.1)%20.8 %
Total liabilities14,859,477 14,494,473 14,352,034 14,258,323 11,743,015 10.1 %26.5 %
Shareholders’ equity:
Common stock, $1 par value49,977 51,418 51,752 53,457 45,808 (11.2)%9.10 %
Additional paid-in capital981,194 1,064,619 1,082,344 1,163,164 822,548 (31.4)%19.3 %
Retained earnings940,824 893,095 846,620 799,900 786,785 21.4 %19.6 %
Accumulated other comprehensive loss, net(35,464)(35,259)(32,551)(38,478)(44,011)2.33 %(19.4)%
Total common shareholders’ equity1,936,531 1,973,873 1,948,165 1,978,043 1,611,130 (7.59)%20.2 %
Noncontrolling interest93 93 93 93 93 — %— %
Total equity1,936,624 1,973,966 1,948,258 1,978,136 1,611,223 (7.59)%20.2 %
Total liabilities and shareholders’ equity$16,796,101 $16,468,439 $16,300,292 $16,236,459 $13,354,238 7.98 %25.8 %

FB Financial Corporation
7

Average Balance and Interest Yield/Rate Analysis
(Unaudited)
(Dollars in Thousands)
 Three Months Ended
 June 30, 2026March 31, 2026
 Average
balances		Interest
income/
expense		Average
yield/
rate		Average
balances		Interest
income/
expense		Average
yield/
rate
Interest-earning assets:      
Loans HFI(a)(b)
$12,611,425 $203,763 6.48 %$12,415,278 $199,145 6.51 %
Mortgage loans held for sale205,594 3,111 6.07 %171,452 2,550 6.03 %
Investment securities:
Taxable1,405,824 13,804 3.94 %1,378,627 13,575 3.99 %
Tax-exempt(b)
169,143 1,442 3.42 %168,658 1,425 3.43 %
Total investment securities(b)
1,574,967 15,246 3.88 %1,547,285 15,000 3.93 %
Federal funds sold and reverse repurchase agreements199,542 1,974 3.97 %207,809 2,021 3.94 %
Interest-bearing deposits with other financial institutions544,979 5,006 3.68 %698,672 6,337 3.68 %
Restricted equity securities, at cost82,091 1,154 5.64 %79,257 1,106 5.66 %
Total interest-earning assets(b)
15,218,598 230,254 6.07 %15,119,753 226,159 6.07 %
Noninterest-earning assets: 
Cash and due from banks141,072 147,305 
Allowance for credit losses on loans HFI(187,329)(188,214)
Other assets(c)(d)
1,161,673 1,179,428 
Total noninterest-earning assets1,115,416 1,138,519 
Total assets$16,334,014 $16,258,272 
Interest-bearing liabilities:
Interest-bearing deposits: 
Interest-bearing checking$2,527,571 $11,601 1.84 %$2,628,330 $12,348 1.91 %
Money market5,305,608 39,263 2.97 %5,471,973 39,871 2.96 %
Savings deposits490,923 1,035 0.85 %447,380 656 0.59 %
Customer time deposits2,308,317 20,610 3.58 %2,116,914 19,000 3.64 %
Brokered and internet time deposits625,579 6,259 4.01 %604,764 6,003 4.03 %
       Time deposits2,933,896 26,869 3.67 %2,721,678 25,003 3.73 %
Total interest-bearing deposits11,257,998 78,768 2.81 %11,269,361 77,878 2.80 %
Other interest-bearing liabilities: 
Securities sold under agreements to repurchase and federal funds purchased10,683 18 0.68 %12,554 16 0.52 %
Federal Home Loan Bank advances5,769 41 2.85 %— — — %
Subordinated debt84,145 1,491 7.11 %83,798 1,486 7.19 %
Other borrowings16,478 148 3.60 %1,118 5 1.81 %
Total other interest-bearing liabilities117,075 1,698 5.82 %97,470 1,507 6.27 %
Total interest-bearing liabilities11,375,073 80,466 2.84 %11,366,831 79,385 2.83 %
Noninterest-bearing liabilities: 
Demand deposits2,722,563 2,652,462 
Other liabilities(d)
249,086 273,009 
Total noninterest-bearing liabilities2,971,649 2,925,471 
Total liabilities14,346,722 14,292,302 
Total common shareholders’ equity1,987,199 1,965,877 
Noncontrolling interest93 93 
Total equity1,987,292 1,965,970 
Total liabilities and shareholders’ equity$16,334,014 $16,258,272 
Net interest income(b)
 $149,788 $146,774 
Interest rate spread(b)
  3.23 %3.24 %
Net interest margin(b)(e)
  3.95 %3.94 %
Cost of total deposits  2.26 %2.27 %
Average interest-earning assets to average interest-bearing liabilities  133.8 %133.0 %
Tax-equivalent adjustment $816 $809 
Loans HFI yield components:  
    Contractual interest rate(b)
 $195,348 6.22 %$190,529 6.22 %
    Origination and other loan fee income 2,589 0.08 %2,148 0.07 %
    Accretion on purchased loans 5,049 0.16 %6,297 0.21 %
    Nonaccrual interest 777 0.02 %171 0.01 %
          Total loans HFI yield $203,763 6.48 %$199,145 6.51 %
(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 $50,915 and $43,443 for the three months ended June 30, 2026 and March 31, 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 $33,122 and $31,982 for the three months ended June 30, 2026 and March 31, 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
 December 31, 2025September 30, 2025June 30, 2025
 Average
balances		Interest
income/
expense		Average
yield/
rate		Average
balances		Interest
income/
expense		Average
yield/
rate		Average
balances		Interest
income/
expense		Average
yield/
rate
Interest-earning assets:   
Loans HFI(a)(b)
$12,368,964 $207,140 6.64 %$12,189,401 $207,423 6.75 %$9,840,932 $157,964 6.44 %
Mortgage loans held for sale169,422 3,059 7.16 %162,205 2,359 5.77 %126,072 2,189 6.96 %
Investment securities:
Taxable1,346,232 14,380 4.24 %1,304,894 14,395 4.38 %1,534,895 14,661 3.83 %
Tax-exempt(b)
169,355 1,431 3.35 %169,523 1,431 3.35 %167,675 1,401 3.35 %
Total investment securities(b)
1,515,587 15,811 4.14 %1,474,417 15,826 4.26 %1,702,570 16,062 3.78 %
Federal funds sold and reverse repurchase   agreements238,393 2,426 4.04 %331,029 3,966 4.75 %113,252 1,256 4.45 %
Interest-bearing deposits with other financial institutions693,612 6,800 3.89 %671,634 7,340 4.34 %426,073 4,733 4.46 %
Restricted equity securities, at cost49,029 840 6.80 %36,907 832 8.94 %35,623 701 7.89 %
Total interest-earning assets(b)
15,035,007 236,076 6.23 %14,865,593 237,746 6.35 %12,244,522 182,905 5.99 %
Noninterest-earning assets:
Cash and due from banks137,536 139,226 115,717 
Allowance for credit losses on loans HFI(185,526)(181,973)(151,586)
Other assets(c)(d)
1,164,178 1,184,942 823,837 
Total noninterest-earning assets1,116,188 1,142,195 787,968 
Total assets$16,151,195 $16,007,788 $13,032,490 
Interest-bearing liabilities:
Interest-bearing deposits:
    Interest-bearing checking$2,379,679 $11,538 1.92 %$2,331,589 $12,383 2.11 %$2,521,239 $15,870 2.52 %
    Money market5,609,158 46,018 3.25 %5,561,538 49,019 3.50 %4,115,987 34,957 3.41 %
    Savings deposits417,110 419 0.40 %406,787 248 0.24 %352,307 98 0.11 %
    Customer time deposits2,088,577 19,561 3.72 %1,997,905 18,965 3.77 %1,404,368 12,454 3.56 %
    Brokered and internet time deposits608,136 6,277 4.10 %560,127 5,962 4.22 %481,686 5,189 4.32 %
       Time deposits2,696,71325,8383.80 %2,558,032 24,927 3.87 %1,886,054 17,643 3.75 %
Total interest-bearing deposits11,102,66083,8132.99 %10,857,946 86,577 3.16 %8,875,587 68,568 3.10 %
Other interest-bearing liabilities:
Securities sold under agreements to repurchase and federal funds purchased12,473 31 0.99 %13,144 31 0.94 %11,107 26 0.94 %
  Federal Home Loan Bank advances— — — %15,217 172 4.48 %23,077 258 4.48 %
  Subordinated debt83,458 1,491 7.09 %180,805 2,872 6.30 %130,851 1,813 5.56 %
  Other borrowings9,296 99 4.23 %1,168 6 2.04 %2,294 4 0.70 %
Total other interest-bearing liabilities105,227 1,621 6.11 %210,334 3,081 5.81 %167,329 2,101 5.04 %
Total interest-bearing liabilities11,207,887 85,434 3.02 %11,068,280 89,658 3.21 %9,042,916 70,669 3.13 %
Noninterest-bearing liabilities:
Demand deposits2,733,207 2,724,898 2,206,305 
Other liabilities(d)
253,375 236,732 200,077 
Total noninterest-bearing liabilities2,986,582 2,961,630 2,406,382 
Total liabilities14,194,469 14,029,910 11,449,298 
Total common shareholders’ equity1,956,633 1,977,785 1,583,099 
Noncontrolling interest93 93 93 
Total equity1,956,726 1,977,878 1,583,192 
Total liabilities and shareholders’ equity$16,151,195 $16,007,788 $13,032,490 
Net interest income(b)
$150,642 $148,088 $112,236 
Interest rate spread(b)
3.21 %3.14 %2.86 %
Net interest margin(b)(e)
3.98 %3.95 %3.68 %
Cost of total deposits2.40 %2.53 %2.48 %
Average interest-earning assets to average interest-bearing liabilities134.1 %134.3 %135.4 %
Tax-equivalent adjustment$838 $848 $821 
Loans HFI yield components:
    Contractual interest rate(b)
$197,683 6.34 %$198,320 6.45 %$155,697 6.34 %
    Origination and other loan fee income2,633 0.08 %1,575 0.05 %1,945 0.08 %
    Accretion (amortization) on purchased loans6,406 0.21 %7,025 0.23 %(62)— %
    Nonaccrual interest418 0.01 %503 0.02 %384 0.02 %
          Total loans HFI yield$207,140 6.64 %$207,423 6.75 %$157,964 6.44 %
(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 $51,415, $64,781 and $128,818 for the three months ended December 31, 2025, September 30, 2025 and
June 30, 2025, respectively.
(d) Includes average of optional rights to repurchase government guaranteed GNMA mortgage loans previously sold that have become past due greater than 90 days of $23,208, $21,645
and $25,159 for the three months ended December 31, 2025, September 30, 2025 and June 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)
 Six Months Ended
 June 30, 2026June 30, 2025
 Average
balances		Interest
income/
expense		Average
yield/
rate		Average
balances		Interest
income/
expense		Average
yield/
rate
Interest-earning assets:      
Loans HFI(a)(b)
$12,513,893 $402,908 6.49 %$9,731,602 $310,138 6.43 %
Mortgage loans held for sale188,617 5,661 6.05 %110,096 3,622 6.63 %
Investment securities:
Taxable1,392,301 27,379 3.97 %1,538,363 29,132 3.82 %
Tax-exempt(b)
168,902 2,867 3.42 %167,815 2,798 3.36 %
Total investment securities(b)
1,561,203 30,246 3.91 %1,706,178 31,930 3.77 %
Federal funds sold and reverse repurchase agreements203,653 3,995 3.96 %118,293 2,630 4.48 %
Interest-bearing deposits with other financial institutions621,401 11,343 3.68 %617,581 13,635 4.45 %
Restricted equity securities, at cost80,682 2,260 5.65 %34,067 1,442 8.54 %
Total interest-earning assets(b)
15,169,449 456,413 6.07 %12,317,817 363,397 5.95 %
Noninterest-earning assets:
Cash and due from banks144,171 119,417 
Allowance for credit losses on loans HFI(187,769)(151,909)
Other assets(c)(d)
1,170,501 833,923 
Total noninterest-earning assets1,126,903 801,431 
Total assets$16,296,352 $13,119,248 
Interest-bearing liabilities:
Interest-bearing deposits:
    Interest-bearing checking$2,577,672 $23,949 1.87 %$2,679,843 $34,137 2.57 %
    Money market5,388,331 79,134 2.96 %4,099,959 69,317 3.41 %
    Savings deposits469,271 1,691 0.73 %353,082 164 0.09 %
    Customer time deposits2,213,144 39,610 3.61 %1,388,793 25,156 3.65 %
    Brokered and internet time deposits615,229 12,262 4.02 %462,909 10,043 4.38 %
       Time deposits2,828,373 51,872 3.70 %1,851,702 35,199 3.83 %
Total interest-bearing deposits11,263,647 156,646 2.80 %8,984,586 138,817 3.12 %
Other interest-bearing liabilities:
Securities sold under agreements to repurchase and federal funds purchased11,613 34 0.59 %11,077 32 0.58 %
  Federal Home Loan Bank advances2,901 41 2.85 %11,602 258 4.48 %
  Subordinated debt83,972 2,977 7.15 %130,803 3,617 5.58 %
  Other borrowings 8,840 153 3.49 %1,760 10 1.15 %
Total other interest-bearing liabilities107,326 3,205 6.02 %155,242 3,917 5.09 %
Total interest-bearing liabilities11,370,973 159,851 2.83 %9,139,828 142,734 3.15 %
Noninterest-bearing liabilities:
Demand deposits2,687,706 2,170,812 
   Other liabilities(d)
260,983 224,988 
Total noninterest-bearing liabilities2,948,689 2,395,800 
Total liabilities14,319,662 11,535,628 
Total common shareholders’ equity1,976,597 1,583,527
Noncontrolling interest93 93 
Total equity1,976,690 1,583,620 
Total liabilities and shareholders’ equity$16,296,352 $13,119,248 
Net interest income(b)
$296,562 $220,663 
Interest rate spread(b)
3.24 %2.80 %
Net interest margin(b)(e)
3.94 %3.61 %
Cost of total deposits2.26 %2.51 %
Average interest-earning assets to average interest-bearing liabilities133.4 %134.8 %
Tax equivalent adjustment $1,625  $1,607 
Loans HFI yield components:   
    Contractual interest rate(b)
 $385,877 6.21 %$305,516 6.33 %
    Origination and other loan fee income 4,737 0.08 %3,742 0.08 %
    Accretion (amortization) on purchased loans 11,346 0.18 %(60)— %
    Nonaccrual interest 948 0.02 %940 0.02 %
          Total loans HFI yield $402,908 6.49 %$310,138 6.43 %
(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 $47,200 and $130,531 for the six months ended June 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 $32,555 and $27,930 for the      six months ended June 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
Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025
Investment securities, at fair value
Available-for-sale debt securities:  
  U.S. government agency securities$748,777 49 %$713,910 48 %$670,088 46 %$653,197 46 %$642,264 48 %
  Mortgage-backed securities - residential573,179 38 %599,180 40 %602,320 41 %587,587 41 %541,343 40 %
  Mortgage-backed securities - commercial20,205 2 %10,632 1 %10,678 1 %10,681 1 %8,752 1 %
  Municipal securities170,173 11 %166,033 11 %168,370 12 %165,411 12 %144,228 11 %
  Treasury securities7,066 — %7,092 — %7,125 — %7,080 — %— — %
  Corporate securities1,693 — %1,700 — %998 — %2,995 — %978 — %
Total available-for-sale debt securities1,521,093 100 %1,498,547 100 %1,459,579 100 %1,426,951 100 %1,337,565 100 %
Equity securities, at fair value 6,000 — %— — %155 — %1,450 — %— — %
Total investment securities, at fair value $1,527,093 100 %$1,498,547 100 %$1,459,734 100 %$1,428,401 100 %$1,337,565 100 %
Investment securities to total assets9.09 % 9.10 %8.96 %8.80 %10.0 %
Unrealized loss on available-for-sale debt securities(51,828)(51,495)(47,887)(55,890)(63,262)
Sources of liquidity
Current on-balance sheet:
  Cash and cash equivalents$1,112,35762 %$1,157,76365 %$1,155,89564 %$1,280,03368 %$1,165,72968 %
  Unpledged available-for-sale debt securities691,29038 %637,18235 %649,00036 %608,71632 %547,35432 %
  Equity securities, at fair value6,000— %—— %155 — %1,450 — %—— %
Total on-balance sheet liquidity$1,809,647100 %$1,794,945100 %$1,805,050 100 %$1,890,199 100 %$1,713,083 100 %
Available sources of liquidity:
  Unsecured borrowing capacity(a)
$4,012,661 48 %$4,021,984 47 %$3,915,314 47 %$4,018,822 52 %$3,325,751 48 %
   FHLB remaining borrowing capacity2,249,33327 %2,213,25126 %2,214,79626 %1,551,28320 %1,481,37621 %
   Federal Reserve discount window2,138,24825 %2,319,52127 %2,268,59927 %2,196,78528 %2,119,01831 %
Total available sources of liquidity$8,400,242 100 %$8,554,756 100 %$8,398,709 100 %$7,766,890 100 %$6,926,145 100 %
On-balance sheet liquidity as a
    percentage of total assets		10.8 %10.9 %11.1 %11.6 %12.8 %
On-balance sheet liquidity as a
    percentage of total tangible assets*		11.0 %11.2 %11.3 %11.9 %13.1 %
On-balance sheet liquidity and available
    sources of liquidity as a percentage of
    estimated uninsured and
    uncollateralized deposits(b)
246.7 %255.0 %249.8 %245.0 %289.5 %
(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
 Jun 2026% of Total Mar 2026% of TotalDec 2025% of TotalSep 2025% of TotalJun 2025% of Total
Loan portfolio  
Commercial and industrial $2,259,794 18 %$2,239,228 18 %$2,181,935 18 %$2,155,105 17 %$1,788,911 18 %
Construction1,157,961 9 %1,177,082 9 %1,188,494 10 %1,195,392 10 %1,022,678 10 %
Residential real estate: 
1-to-4 family mortgage1,917,533 15 %1,856,308 15 %1,838,122 15 %1,852,626 15 %1,660,696 17 %
Residential line of credit802,753 6 %768,190 6 %741,309 6 %707,303 6 %641,433 7 %
Multi-family mortgage767,500 6 %716,795 6 %745,360 6 %736,424 6 %587,254 6 %
Commercial real estate: 
Owner-occupied2,252,681 18 %2,204,731 18 %2,148,870 17 %2,124,920 17 %1,370,123 14 %
Non-owner occupied3,016,923 23 %2,869,759 23 %2,900,499 23 %2,890,233 24 %2,198,689 22 %
Consumer and other690,365 5 %671,722 5 %639,037 5 %635,597 5 %604,498 6 %
Total loans HFI$12,865,510 100 %$12,503,815 100 %$12,383,626 100 %$12,297,600 100 %$9,874,282 100 %
Percentage of loans HFI portfolio with
    floating interest rates		52.8 %52.3 %52.2 %51.5 %49.6 %
Percentage of loans HFI portfolio with
  floating interest rates that mature after
  one year		50.2 %49.0 %49.3 %48.0 %45.2 %
Loans by market(a)
Metropolitan$5,723,437 44 %$5,642,300 45 %$5,812,055 47 %$5,828,109 48 %$4,964,113 50 %
Community3,174,989 25 %3,055,745 25 %2,893,961 23 %2,876,244 23 %1,380,561 14 %
Specialty lending and other3,967,084 31 %3,805,770 30 %3,677,610 30 %3,593,247 29 %3,529,608 36 %
Total$12,865,510 100 %$12,503,815 100 %$12,383,626 100 %$12,297,600 100 %$9,874,282 100 %
Unfunded loan commitments
Commercial and industrial $1,472,485 45 %$1,465,835 45 %$1,464,207 45 %$1,451,366 46 %$1,396,533 49 %
Construction743,922 23 %730,199 23 %704,781 22 %731,742 23 %535,669 19 %
Residential real estate:
1-to-4 family mortgage12,158 — %14,427 — %16,942 1 %5,581 — %3,545 — %
Residential line of credit850,189 26 %837,761 26 %828,042 26 %808,961 25 %745,570 26 %
Multi-family mortgage6,981 —%8,145 —%6,698 —%6,665 —%4,260 —%
Commercial real estate:
Owner-occupied96,729 3 %97,430 3 %92,265 3 %96,287 3 %86,135 3 %
Non-owner occupied80,600 2 %59,417 2 %65,037 2 %68,293 2 %67,974 2 %
Consumer and other25,850 1 %23,763 1 %20,530 1 %21,480 1 %21,999 1 %
Total unfunded loans HFI$3,288,914 100 %$3,236,977 100 %$3,198,502 100 %$3,190,375 100 %$2,861,685 100 %
(a) Prior period amounts have been recast to reflect updated definitions of market categories.
FB Financial Corporation
12

Asset Quality
As of or for the Three Months Ended
(Unaudited)
(Dollars in Thousands)
 As of or for the Three Months Ended
 Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025
Allowance for credit losses on loans HFI roll forward summary
Allowance for credit losses on loans HFI at the beginning of the period$186,324 $185,983 $184,993 $148,948 $150,531 
Charge-offs(2,482)(4,033)(1,818)(1,709)(1,454)
Recoveries513 552 380 279 973 
Impact of change in accounting estimate for current expected credit losses— — — — (6,848)
Provision for credit losses on loans HFI9,655 3,822 2,428 29,957 5,746 
Initial allowance on acquired loans with credit deterioration— — — 7,518 — 
Allowance for credit losses on loans HFI at the end of the period$194,010 $186,324 $185,983 $184,993 $148,948 
Allowance for credit losses on loans HFI as a percentage of loans HFI1.51 %1.49 %1.50 %1.50 %1.51 %
Allowance for credit losses on unfunded commitments$15,859 $15,398 $16,196 $17,392 $12,932 
Charge-offs
Commercial and industrial$(637)$(2,168)$(65)$(100)$(70)
Construction(111)(204)— (399)— 
Residential real estate:
1-to-4 family mortgage(421)(405)(368)(322)(433)
Residential line of credit— (23)— — — 
Consumer and other(1,313)(1,233)(1,385)(888)(951)
Total charge-offs(2,482)(4,033)(1,818)(1,709)(1,454)
Recoveries
Commercial and industrial148 101 159 12 173 
Construction2 25 — — — 
Residential real estate:
1-to-4 family mortgage58 8 13 6 11 
Residential line of credit1 — — 11 1 
Commercial real estate:
Owner occupied16 13 8 4 9 
Non-owner occupied— — — — 528 
Consumer and other288 405 200 246 251 
Total recoveries513 552 380 279 973 
Net charge-offs$(1,969)$(3,481)$(1,438)$(1,430)$(481)
Annualized net charge-offs as a percentage of average loans HFI0.06 %0.11 %0.05 %0.05 %0.02 %
Nonperforming assets
Loans past due 90 days or more and accruing interest$41,600 $27,185 $32,751 $26,311 $21,962 
Nonaccrual loans108,583 92,289 87,721 89,448 73,950 
Total nonperforming loans HFI
150,183 119,474 120,472 115,759 95,912 
Mortgage loans held for sale(a)
32,578 32,590 28,102 21,660 20,977 
Other real estate owned5,544 6,449 6,009 4,466 2,998 
Other repossessed assets3,961 3,518 3,564 3,314 3,151 
Total nonperforming assets$192,266 $162,031 $158,147 $145,199 $123,038 
Total nonperforming loans HFI as a percentage of loans HFI1.17 %0.96 %0.97 %0.94%0.97%
Total nonperforming assets as a percentage of total assets
1.14 %0.98 %0.97 %0.89%0.92%
Total nonaccrual loans as a percentage of loans HFI0.84 %0.74 %0.71 %0.73%0.75%
(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
Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025
Deposits by market(a)
Metropolitan$6,361,08744 %$6,304,30745 %$6,020,09543 %$5,766,85642 %$5,359,97447 %
Community6,571,16046 %6,741,45248 %6,926,89750 %6,822,73649 %4,713,63742 %
Brokered/wholesale685,9025 %574,2164 %625,6345 %487,7654 %518,7194 %
Escrow and other(b)
729,0175 %456,8603 %337,3352 %735,5985 %811,1407 %
Total$14,347,166100 %$14,076,835100 %$13,909,961100 %$13,812,955100 %$11,403,470100 %
Deposits by customer
    segment
Consumer$6,014,10542 %$6,060,11543 %$6,063,01544 %$5,966,45843 %$4,772,58242 %
Commercial 6,354,79744 %6,155,87444 %6,162,22144 %6,045,41844 %4,835,96842 %
Public1,978,26414 %1,860,84613 %1,684,72512 %1,801,07913 %1,794,92016 %
Total$14,347,166100 %$14,076,835100 %$13,909,961100 %$13,812,955100 %$11,403,470100 %
Estimated insured or
   collateralized deposits		$10,208,000$10,017,773$9,825,599$9,871,337$8,418,783
Estimated uninsured
   and uncollateralized
   deposits(c)
$4,139,166$4,059,062$4,084,362$3,941,618$2,984,687
Estimated uninsured and
   uncollateralized deposits
    as a % of total
    deposits(c)
28.9 %28.8 %29.4 %28.5 %26.2 %
(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:June 30, 2026December 31, 2025
Total common shareholders' equity$1,936,531 $1,948,165 
Less:
    Goodwill350,353 350,353 
    Other intangibles27,611 31,284 
Tangible common equity$1,558,567 $1,566,528 
Total assets$16,796,101 $16,300,292 
Less:
    Goodwill350,353 350,353 
    Other intangibles27,611 31,284 
Tangible assets$16,418,137 $15,918,655 
Preliminary total risk-weighted assets$14,697,963 $14,253,337 
Total common equity to total assets11.5 %12.0 %
Tangible common equity to tangible assets*9.49 %9.84 %
 June 30, 2026December 31, 2025
Preliminary regulatory capital: 
    Common equity Tier 1 capital$1,621,572 $1,625,952 
    Tier 1 capital1,621,572 1,625,952 
    Total capital1,889,910 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 12.9 %13.2 %
    Tier 1 leverage10.1 %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
Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025
Banking segment
Interest income$226,981 $223,418 $233,202 $236,073 $180,960 
Interest expense81,549 80,296 86,637 91,214 72,051 
Net interest income$145,432 $143,122 $146,565 $144,859 $108,909 
Provisions for credit losses9,139 1,987 796 34,070 582 
Noninterest income (loss)14,403 13,962 15,207 13,078 (47,720)
Salaries, commissions and employee benefits46,517 49,364 55,928 51,441 38,635 
Merger and integration costs— 1,447 4,611 16,057 2,734 
Other noninterest expense32,602 30,765 33,017 29,471 25,961 
Pre-tax net contribution (loss) after allocations$71,577 $73,521 $67,420 $26,898 $(6,723)
Total assets$16,015,694 $15,703,248 $15,623,962 $15,598,629 $12,736,830 
Efficiency ratio49.5 %51.9 %57.8 %61.4 %110.0 %
Adjusted efficiency ratio*49.1 %50.9 %53.5 %50.6 %52.8 %
Mortgage segment
Interest income$2,457 $1,932 $2,036 $825 $1,124 
Interest expense(1,083)(911)(1,203)(1,556)(1,382)
Net interest income$3,540 $2,843 $3,239 $2,381 $2,506 
Provisions for loan losses977 1,037 436 347 4,755 
Mortgage banking income11,170 12,253 13,505 13,484 13,029 
Other noninterest income207 160 83 73 139 
Salaries, commissions and employee benefits6,815 7,984 7,601 7,769 7,996 
Other noninterest expense5,546 5,604 6,391 5,118 5,935 
Pre-tax net contribution (loss) after allocations$1,579 $631 $2,399 $2,704 $(3,012)
Total assets $780,407 $765,191 $676,330 $637,830 $617,408 
Efficiency ratio82.9 %89.1 %83.2 %80.9 %88.9 %
Adjusted efficiency ratio*83.6 %89.6 %83.2 %80.9 %89.1 %
Interest rate lock commitments volume$435,506 $490,265 $385,516 $432,149 $456,720 
Interest rate lock commitments pipeline (period end)$103,853 $133,669 $86,586 $128,961 $127,004 
Mortgage loan sales$377,406 $295,123 $336,085 $343,450 $391,061 
Gains and fees from origination and sale of mortgage loans held for sale$9,410 $8,517 $9,976 $9,237 $11,200 
Net change in fair value of loans held for sale, derivatives, and other(1,021)1,008 (57)801 (876)
Mortgage servicing income6,494 6,580 6,668 6,836 6,936 
Change in fair value of mortgage servicing rights, net of hedging(3,713)(3,852)(3,082)(3,390)(4,231)
Total mortgage banking income$11,170 $12,253 $13,505 $13,484 $13,029 
Mortgage sale margin(a)
2.49 %2.89 %2.97 %2.69 %2.86 %
*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 EndedSix Months Ended
Adjusted net incomeJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Jun 2026Jun 2025
Income (loss) before income taxes$73,156 $74,152 $69,819 $29,602 $(9,735)$147,308 $39,097 
Less gain (loss) from securities,
   net		— 1 64 12 (60,549)1 (60,533)
Less (loss) gain on sales or
   write-downs of premises and
   equipment, other real estate
   owned and other assets, net		(377)(320)(131)(646)236 (697)(389)
Less cash life insurance benefit— 763 1,148 — — 763 — 
Plus initial provision for credit
   losses on acquired loans and
   unfunded commitments		— — — 28,366 — — — 
Plus early retirement and
   severance costs		— — 1,395 — — — — 
Plus (gain) loss on lease
   terminations and other branch
   closure costs		(42)5 12 270 — (37)— 
Plus charitable contribution to
   FirstBank Foundation		— — 1,130 — — — — 
Plus merger and integration
   costs		— 1,447 4,611 16,057 2,734 1,447 3,135 
Adjusted pre-tax net income73,491 75,160 75,886 74,929 53,312 148,651 103,154 
Less income tax expense,
   adjusted for items above(a)
14,586 16,889 14,392 17,323 3,778 31,475 13,512 
Plus income tax benefit(b)
— — — — (8,713)— (8,713)
Adjusted net income$58,905 $58,271 $61,494 $57,606 $40,821 $117,176 $80,929 
Weighted average common share
     outstanding - fully diluted		51,693,688 52,203,469 53,074,753 53,957,062 46,179,090 51,931,419 46,570,848 
Adjusted diluted earnings per
   common share
Diluted earnings per common share$1.13 $1.10 $1.07 $0.43 $0.06 $2.24 $0.91 
Adjusted diluted earnings per
   common share 		$1.14 $1.12 $1.16 $1.07 $0.88 $2.26 $1.74 
(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 EndedSix Months Ended
Adjusted pre-tax pre-provision
   net revenue		Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025Jun 2026Jun 2025
Income (loss) before income taxes$73,156 $74,152 $69,819 $29,602 $(9,735)$147,308 $39,097 
Plus provisions for credit losses10,116 3,024 1,232 34,417 5,337 13,140 7,629 
Pre-tax pre-provision net revenue83,272 77,176 71,051 64,019 (4,398)160,448 46,726 
Less gain (loss) from securities,
   net		— 1 64 12 (60,549)1 (60,533)
Less (loss) gain on sales or
   write-downs of premises and
   equipment, other real estate
   owned and other assets, net		(377)(320)(131)(646)236 (697)(389)
Less cash life insurance benefit— 763 1,148 — — 763 — 
Plus early retirement and
   severance costs		— — 1,395 — — — — 
Plus (gain) loss on lease
   terminations and other branch
   closure costs		(42)5 12 270 — (37)— 
Plus charitable contribution to
   FirstBank Foundation		— — 1,130 — — — — 
Plus merger and integration
   costs		— 1,447 4,611 16,057 2,734 1,447 3,135 
Adjusted pre-tax pre-provision
   net revenue		$83,607 $78,184 $77,118 $80,980 $58,649 $161,791 $110,783 
 
Three Months EndedSix Months Ended
Adjusted tangible net incomeJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Jun 2026Jun 2025
Income (loss) before income taxes$73,156 $74,152 $69,819 $29,602 $(9,735)$147,308 $39,097 
Plus amortization of core
   deposit and other intangibles		1,804 1,869 1,932 2,079 631 3,673 1,287 
Less gain (loss) from securities,
   net		— 1 64 12 (60,549)1 (60,533)
Less (loss) gain on sales or
   write-downs of premises and
   equipment, other real estate
   owned and other assets, net		(377)(320)(131)(646)236 (697)(389)
Less cash life insurance benefit— 763 1,148 — — 763 — 
Plus initial provision for credit
   losses on acquired loans and
   unfunded commitments		— — — 28,366 — — — 
Plus early retirement and
   severance costs		— — 1,395 — — — — 
Plus (gain) loss on lease
   terminations and other branch
   closure costs		(42)5 12 270 — (37)— 
Plus charitable contribution to
   FirstBank Foundation		— — 1,130 — — — — 
Plus merger and integration
   costs		— 1,447 4,611 16,057 2,734 1,447 3,135 
Less income tax expense,
   adjusted for items above(a)
15,056 17,376 14,895 17,864 3,942 32,432 13,847 
Plus income tax benefit(b)
— — — — (8,713)— (8,713)
Adjusted tangible net income$60,239 $59,653 $62,923 $59,144 $41,288 $119,892 $81,881 
(a) Adjusted items calculated using the combined federal and blended state statutory income tax rate of 26.06% for all periods, excluding nondeductible items for merger and integration costs.
(b) Represents a non-recurring tax benefit recorded during the three months ended June 30, 2025 due to the expiration of the statute of limitations with respect to an amended income tax return.
FB Financial Corporation
18

Non-GAAP Reconciliations (continued)
(Unaudited)
(Dollars in Thousands)
 Three Months EndedSix Months Ended
Adjusted efficiency ratio (tax-
    equivalent basis)		Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025Jun 2026Jun 2025
Total noninterest expense$91,480 $95,164 $107,548 $109,856 $81,261 $186,644 $160,810 
Less early retirement and
   severance costs		— — 1,395 — — — — 
Less (gain) loss on lease
   terminations and other branch
   closure costs		(42)5 12 270 — (37)— 
Less charitable contribution to
   FirstBank Foundation		— — 1,130 — — — — 
Less merger and integration
   costs		— 1,447 4,611 16,057 2,734 1,447 3,135 
Adjusted noninterest expense$91,522 $93,712 $100,400 $93,529 $78,527 $185,234 $157,675 
Net interest income$148,972 $145,965 $149,804 $147,240 $111,415 $294,937 $219,056 
Net interest income (tax-equivalent
   basis)		149,788 146,774 150,642 148,088 112,236 296,562 220,663 
Total noninterest income (loss)25,780 26,375 28,795 26,635 (34,552)52,155 (11,520)
Less gain (loss) from securities,
   net		— 1 64 12 (60,549)1 (60,533)
Less (loss) gain on sales or
   write-downs of premises and
   equipment, other real estate
   owned and other assets, net		(377)(320)(131)(646)236 (697)(389)
Less cash life insurance benefit— 763 1,148 — — 763 — 
Adjusted noninterest income26,157 25,931 27,714 27,269 25,761 52,088 49,402 
Total revenue$174,752 $172,340 $178,599 $173,875 $76,863 $347,092 $207,536 
Adjusted revenue (tax-equivalent
   basis)		$175,945 $172,705 $178,356 $175,357 $137,997 $348,650 $270,065 
Efficiency ratio52.3%55.2%60.2%63.2%105.7%53.8%77.5%
Adjusted efficiency ratio (tax-
   equivalent basis)		52.0%54.3%56.3%53.3%56.9%53.1%58.4%
FB Financial Corporation
19

Non-GAAP Reconciliations (continued)
(Unaudited)
(Dollars in Thousands)
 Three Months EndedSix Months Ended
Banking segment adjusted
   efficiency ratio (tax-equivalent)		Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025Jun 2026Jun 2025
Banking segment noninterest
   expense		$79,119 $81,576 $93,556 $96,969 $67,330 $160,695 $134,239 
Less early retirement and
   severance costs		— — 1,395 — — — — 
Less (gain) loss on lease
   terminations and other branch
   closure costs		(42)5 12 270 — (37)— 
Less charitable contribution to
   FirstBank Foundation		— — 1,130 — — — — 
Less merger and integration
   costs		— 1,447 4,611 16,057 2,734 1,447 3,135 
Banking segment adjusted
   noninterest expense		$79,161 $80,124 $86,408 $80,642 $64,596 $159,285 $131,104 
Banking segment net interest
   income 		$145,432 $143,122 $146,565 $144,859 $108,909 $288,554 $214,668 
Banking segment net interest
   income (tax-equivalent basis)		146,248 143,931 147,403 145,707 109,730 290,179 216,275 
Banking segment noninterest
   income (loss)		14,403 13,962 15,207 13,078 (47,720)28,365 (37,060)
Less gain (loss) from securities,
   net		— 1 64 12 (60,549)1 (60,533)
Less cash life insurance benefit— 763 1,148 — — 763 — 
Less (loss) gain on sales or
   write-downs of premises and
   equipment, other real estate
   owned and other assets, net		(515)(409)(131)(646)203 (924)(294)
Banking segment adjusted
   noninterest income		14,918 13,607 14,126 13,712 12,626 28,525 23,767 
Banking segment total revenue$159,835 $157,084 $161,772 $157,937 $61,189 $316,919 $177,608 
Banking segment total adjusted
   revenue (tax-equivalent basis)		$161,166 $157,538 $161,529 $159,419 $122,356 $318,704 $240,042 
Banking segment efficiency ratio 49.5%51.9%57.8%61.4%110.0%50.7%75.6%
Banking segment adjusted
   efficiency ratio (tax-equivalent
   basis)		49.1%50.9%53.5%50.6%52.8%50.0%54.6%
FB Financial Corporation
20

Non-GAAP Reconciliations (continued)
Unaudited
(Dollars in Thousands)
Three Months EndedSix Months Ended
Mortgage segment adjusted
   efficiency ratio (tax-equivalent)		Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025Jun 2026Jun 2025
Mortgage segment noninterest
   expense		$12,361 $13,588 $13,992 $12,887 $13,931 $25,949 $26,571 
Mortgage segment adjusted
   noninterest expense		$12,361 $13,588 $13,992 $12,887 $13,931 $25,949 $26,571 
Mortgage segment net interest
   income		$3,540 $2,843 $3,239 $2,381 $2,506 $6,383 $4,388 
Mortgage segment noninterest
   income		11,377 12,413 13,588 13,557 13,168 23,790 25,540 
Less gain (loss) on sales or
   write-downs of premises and
   equipment, other real estate
   owned and other assets, net		138 89 — — 33 227 (95)
Mortgage segment adjusted
   noninterest income		11,239 12,324 13,588 13,557 13,135 23,563 25,635 
Mortgage segment total revenue$14,917 $15,256 $16,827 $15,938 $15,674 $30,173 $29,928 
Mortgage segment adjusted total revenue$14,779 $15,167 $16,827 $15,938 $15,641 $29,946 $30,023 
Mortgage segment efficiency ratio 82.9%89.1%83.2%80.9%88.9%86.0%88.8%
Mortgage segment adjusted
   efficiency ratio (tax-equivalent
   basis)		83.6%89.6%83.2%80.9%89.1%86.7%88.5%
FB Financial Corporation
21

Non-GAAP Reconciliations (continued)
(Unaudited)
(Dollars in Thousands, Except Per Share Data)
As of
Tangible assets, common equity and related
     measures		Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025
Tangible assets
Total assets$16,796,101 $16,468,439 $16,300,292 $16,236,459 $13,354,238 
Less goodwill350,353 350,353 350,353 350,353 242,561 
Less intangibles, net27,611 29,415 31,284 33,216 4,475 
Tangible assets$16,418,137 $16,088,671 $15,918,655 $15,852,890 $13,107,202 
Tangible common equity
Total common shareholders’ equity$1,936,531 $1,973,873 $1,948,165 $1,978,043 $1,611,130 
Less goodwill350,353 350,353 350,353 350,353 242,561 
Less intangibles, net27,611 29,415 31,284 33,216 4,475 
Tangible common equity$1,558,567 $1,594,105 $1,566,528 $1,594,474 $1,364,094 
Common shares outstanding49,976,755 51,418,024 51,752,401 53,456,522 45,807,689 
Book value per common share$38.75 $38.39 $37.64 $37.00 $35.17 
Tangible book value per common share$31.19 $31.00 $30.27 $29.83 $29.78 
Total common shareholders’ equity to total assets11.5%12.0%12.0%12.2%12.1%
Tangible common equity to tangible assets9.49%9.91%9.84%10.1%10.4%
On-balance sheet liquidity:
Cash and cash equivalents$1,112,357 $1,157,763 $1,155,895 $1,280,033 $1,165,729 
Unpledged securities691,290 637,182 649,000 608,716 547,354 
Equity securities, at fair value6,000 — 155 1,450 — 
Total on-balance sheet liquidity$1,809,647 $1,794,945 $1,805,050 $1,890,199 $1,713,083 
On-balance sheet liquidity as a percentage of total
     assets		10.8%10.9%11.1%11.6%12.8%
On-balance sheet liquidity as a percentage of total
      tangible assets		11.0%11.2%11.3%11.9%13.1%
FB Financial Corporation
22

Non-GAAP Reconciliations (continued)
(Unaudited)
(Dollars in Thousands)
 Three Months EndedSix Months Ended
Adjusted return on average
   tangible common equity and
   related measures		Jun 2026Mar 2026Dec 2025Sep 2025Jun 2025Jun 2026Jun 2025
Average common shareholders’
   equity		$1,987,199$1,965,877$1,956,633$1,977,785$1,583,099$1,976,597$1,583,527
Less average goodwill350,353350,353350,353350,355242,561350,353242,561
Less average intangibles, net28,63130,39432,30134,9834,79129,5085,107
Average tangible common equity$1,608,215$1,585,130$1,573,979$1,592,447$1,335,747$1,596,736$1,335,859
Net income$58,649$57,526$56,977$23,375$2,909$116,175$42,270
Return on average common equity11.8%11.9%11.6%4.69%0.74%11.9%5.38%
Return on average tangible
   common equity		14.6%14.7%14.4%5.82%0.87%14.7%6.38%
Adjusted tangible net income$60,239$59,653$62,923$59,144$41,288$119,892$81,881
Adjusted return on average tangible common equity15.0%15.3%15.9%14.7%12.4%15.1%12.4%

Three Months EndedSix Months Ended
Adjusted return on average assets, common equity and related measuresJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Jun 2026Jun 2025
Net income $58,649$57,526$56,977$23,375$2,909$116,175$42,270
Average assets16,334,01416,258,27216,151,19516,007,78813,032,49016,296,35213,119,248
Average common equity1,987,1991,965,8771,956,6331,977,7851,583,0991,976,5971,583,527
Return on average assets1.44%1.43%1.40%0.58%0.09%1.44%0.65%
Return on average common equity11.8%11.9%11.6%4.69%0.74%11.9%5.38%
Adjusted net income$58,905$58,271$61,494$57,606$40,821$117,176$80,929
Adjusted return on average assets1.45%1.45%1.51%1.43%1.26%1.45%1.24%
Adjusted return on average
   common equity		11.9%12.0%12.5%11.6%10.3%12.0%10.3%
Adjusted pre-tax pre-provision net
   income		$83,607$78,184$77,118$80,980$58,649$161,791$110,783
Adjusted pre-tax pre-provision
   return on average assets		2.05%1.95%1.89%2.01%1.81%2.00%1.70%
FB Financial Corporation
23
July 14, 2026 2026 Second Quarter Earnings Presentation

 

1 Forward–looking statements Certain statements contained in this Presentation that are not historical in nature may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, statements regarding the Company’s future plans, results, strategies, and expectations, including expectations around changing economic markets. These statements can generally be identified by the use of the words and phrases “may,” “will,” “should,” “could,” “would,” “goal,” “plan,” “potential,” “estimate,” “project,” “believe,” “intend,” “anticipate,” “expect,” “target,” “aim,” “predict,” “continue,” “seek,” and other variations of such words and phrases and similar expressions. These forward-looking statements are not historical facts, and are based upon management’s current expectations, estimates, and projections, many of which, by their nature, are inherently uncertain and beyond the Company’s control. The inclusion of these forward-looking statements should not be regarded as a representation by the Company or any other person that such expectations, estimates, and projections will be achieved. Accordingly, the Company cautions shareholders and investors that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions, and uncertainties that are difficult to predict. Actual results may prove to be materially different from the results expressed or implied by the forward-looking statements. A number of factors could cause actual results to differ materially from those contemplated by the forward-looking statements including, without limitation, (1) current and future economic conditions, including the effects of inflation, interest rate fluctuations, changes in the economy or global supply chain, supply-demand imbalances affecting local real estate prices, and high unemployment rates in the local or regional economies in which the Company operates and/or the US economy generally, (2) changes or the lack of changes in government interest rate policies and the associated impact on the Company’s business, net interest margin, and mortgage operations, (3) increased competition for deposits, (4) changes in the quality or composition of the Company’s loan or investment portfolios, including adverse developments in borrower industries or in the repayment ability of individual borrowers or issuers of investment securities, or the impact of interest rates on the value of our investment securities portfolio, (5) any deterioration in commercial real estate market fundamentals, (6) the Company’s ability to identify potential candidates for, consummate, and achieve synergies from acquisitions, including risks that cost savings and other synergies from completed or future 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, (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 us, and/or (18) 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 considers to be adjusted in nature. The Company refers to these non-GAAP measures as adjusted measures. Also, the Company presents tangible assets, tangible common equity, tangible book value per common share, tangible common equity to tangible assets, on-balance sheet liquidity to tangible assets, return on average tangible common equity, and adjusted return on average tangible common equity. Each of these non-GAAP metrics excludes the impact of goodwill and other intangibles. The Company’s management uses these non-GAAP financial measures in their analysis of the Company’s performance, financial condition and the efficiency of the 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 non-adjusted gains and charges in the current and prior periods. The Company’s management also believes that investors find these non-GAAP financial measures useful as they assist investors in understanding the Company’s underlying operating performance and in the analysis of ongoing operating trends. In addition, because intangible assets such as goodwill and the other items excluded each vary extensively from company to company, the Company believes that the presentation of this information allows investors to more easily compare the Company’s results to the results of other companies. However, the non- GAAP financial measures discussed herein should not be considered in isolation or as a substitute for the most directly comparable or other financial measures calculated in accordance with GAAP. Moreover, the manner in which the Company calculates the non-GAAP financial measures discussed herein may differ from that of other companies reporting measures with similar names. Investors should understand how such other banking organizations calculate their financial measures with names similar to the non-GAAP financial measures the Company has discussed herein when comparing such non-GAAP financial measures. See the corresponding non-GAAP reconciliation tables below in this Presentation for additional discussion and reconciliation of these measures to the most directly comparable GAAP financial measures.

 

3 2Q 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 $58.6 million or $58.9 million (adjusted)1 • Higher revenue on loan growth and stable net interest margin • Well-controlled expenses and improved efficiency ratio • PPNR up ~8% QoQ and PPNR ROA over 2% • Provision expense driven by loan growth and increased reserves on two individually assessed loans Balance Sheet • Loans HFI balances up 11.6% annualized • Deposit balances up 7.70% annualized • Loan & deposit growth concentrated in back-half of the quarter Credit • ACL coverage ratio of 1.51% • Annualized net charge-offs of 0.06% • NPA ratio of 1.14% attributable to the migration of three lending relationships Capital • ~3% of outstanding shares repurchased in the quarter • Capital position remains strong – • Tangible Common Equity to Tangible Assets1 of 9.49% • CET1 Ratio 11.0% and Total Risk-Based Capital 12.9% (preliminary) Reported Adjusted1 Diluted earnings per common share $ 1.13 $ 1.14 Pre-Tax Pre-Provision Net Revenue ($mm) $83.3 $ 83.6 Net interest margin (tax-equivalent basis) 3.95% 3.95% Efficiency Ratio 52.3% 52.0% Return on average assets 1.44% 1.45% Return on average tangible common equity1 14.6% 15.0%

 

4 2Q 2026 Earnings Quarter ended $ Change from $ in thousands, except per share data 2Q26 1Q26 2Q25 1Q26 2Q25 Total Revenue 174,752 172,340 76,863 2,412 97,889 Provision for credit losses 10,116 3,024 5,337 7,092 4,779 Noninterest Expense 91,480 95,164 81,261 (3,684) 10,219 Pre-tax income 73,156 74,152 (9,735) (996) 82,891 Income tax expense 14,499 16,626 (12,652) (2,127) 27,151 Noncontrolling Interest 8 - 8 8 - Net income 58,649 57,526 2,909 1,123 55,740 Total non-gaap adjustments1 256 745 37,912 (489) (37,656) Adjusted net income2 58,905 58,271 40,821 634 18,084 Diluted earnings per share $ 1.13 $ 1.10 $ 0.06 $ 0.03 1.07 Adjusted diluted earnings per share2 $ 1.14 $ 1.12 $ 0.88 $ 0.02 $ 0.26 Non-GAAP Reconciliation $ in thousands 2Q26 Income before income taxes 73,156 Less loss on sales or write-downs of premises and equipment, other real estate owned and other assets, net (377) Plus gain on lease terminations and other branch closure costs (42) Less income tax expense, adj for items above 14,586 Adjusted Net Income2 58,905 Net Income 58,649 Total non-gaap adjustments1 256 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 growth led by higher interest income on strong loan growth of 11.6% annualized • Decreased expenses due to lower personnel costs and no M&I costs in the quarter • Pre-provision pre-tax net revenue up ~8% QoQ • Provision expense reflective of strong loan growth, coupled with increased reserves on two individually assessed loans • 2Q25 includes a ~$60 million securities loss and is pre- SSBK merger

 

5 Driving shareholder value ¹ Non-GAAP financial measure; See “Use of non-GAAP Financial Measures” and Non-GAAP reconciliations herein. 2 2Q26 calculation is preliminary and subject to change. $2.57 $2.48 $2.45 $2.24 $3.01 $3.40 $3.99 $2.26 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 $31 3Q16 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2Q 26 BVPS TBVPS 14.7% 13.6% 13.2% 13.4% 12.9% 2Q25 3Q25 4Q25 1Q26 2Q26 $58.6 $81.0 $77.1 $78.2 $83.6 2Q25 3Q25 4Q25 1Q26 2Q26 Book Value per Share Total RBC Ratio2 NPLs / Total Loans HFIAdjusted ROATCE1Adjusted PPNR1 (in millions) 1 1 $1,364 $1,594 $1,567 $1,594 $1,559 12.4% 14.7% 15.9% 15.3% 15.0% 2Q25 3Q25 4Q25 1Q26 2Q26 Tangible Common Equity Adj ROATCE11 0.97% 0.94% 0.97% 0.96% 1.17% 2Q25 3Q25 4Q25 1Q26 2Q26

 

6 Net Interest Margin $112.2 $148.1 $150.6 $146.8 $149.8 3.68% 3.95% 3.98% 3.94% 3.95% 2Q25 3Q25 4Q25 1Q26 2Q26 FTE NII / NIM Trend ($ millions) Net Interest Income (NII) Net Interest Margin (NIM) Highlights Net Interest Income Rollforward ($ in thousands) 1Q26 Net Interest Income 146,774 Impact of changes in loans 4,188 Impact of changes in deposits (24) Impact of change in cash (1,472) Impact of change in loan accretion (1,248) Impact of day count 1,622 Impact of all other changes (52) 2Q26 Net Interest Income 149,788 • ~$3mm increase in net interest income in the quarter • Loan growth paired with stable contractual loan rates drove higher interest income • ~$1.6mm benefit from 1 additional day in the quarter • Lower cash balances supporting loan growth and reduced loan accretion partially offset gains in the quarter

 

7 Noninterest Income & Expense $81.3 $95.2 $91.5 105.7% 55.2% 52.3% 2Q25 1Q26 2Q26 Noninterest Expense ($ millions) Noninterest Expense Efficiency Ratio $78.5 $93.7 $91.4 56.9% 54.3% 52.0% 2Q25 1Q26 2Q26 Adj. Noninterest Expense ($ millions) Adj. Noninterest Expense Adj. Efficiency Ratio $(34.5) $26.4 $25.8 $25.8 $25.9 $26.2 1Q26 2Q26 Noninterest Income ($ 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: • ~$1.1mm decrease in mortgage banking income driven by lower lock volumes due to continued market volatility and uncertainty • Incremental increase in service charges, interchange fees, and trust income in the quarter • 2Q25 includes securities loss of ~$60 million Noninterest expense: • Lower expenses in the quarter and improved efficiency ratio • Decrease led by lower personnel costs in the quarter • 1Q finalization of M&I expenses, no such expenses in 2Q • Marginal increases in Software & Marketing costs • Lower expense base in 2Q25 (pre-SSBK merger) 2Q25

 

8 Loans HFI $9.87 $12.30 $12.38 $12.50 $12.87 6.44% 6.75% 6.64% 6.51% 6.48% 2Q25 3Q25 4Q25 1Q26 2Q26 Loans HFI / Total Yield ($ billions) Loans HFI Total Loan HFI Yield 1-4 family 15% 1-4 family HELOC 6% Multifamily 6% C&D 9% CRE 23% C&I 36% Other 5% Portfolio Mix $12.9 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 $362 million, or 11.6% annualized • Ending Loan HFI balances were $12.9 billion • Key loan growth categories include – +$147 million in CRE-NOO +$146 million in Resi RE +$48 million in CRE-OO +$21 million in C&I • Loan yields down slightly on lower loan accretion, while contractual rates remained stable

 

9 Office 17% Retail 19% Hotel 17% Warehouse/Industrial 22% Land-Manufactured Housing 4% Self Storage 5% Healthcare Facility 2% Assisted Living Facility 6% Other 8% Residential Development 33% Commercial 39% Consumer 21% Multifamily 7% Construction 25% Land 5% Lots 3% Diversified loan portfolio CRE2 exposure by type Note: Data as of June 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 $316 $269 $585 13% Retail trade 109 420 529 12% Manufacturing 237 263 500 11% Other services (except public administration) 89 272 361 8% Finance and insurance 341 18 359 8% Health care and social assistance 52 235 287 6% Wholesale trade 193 94 287 6% Construction 187 91 278 6% Accommodation and food services 73 200 273 6% Transportation and warehousing 119 94 213 5% Professional, scientific and technical services 123 60 183 4% Arts, entertainment and recreation 74 65 139 3% Information3 111 12 123 3% Administrative and support and waste management and remediation services 88 34 122 3% Other 148 126 274 6% Total $2,260 $2,253 $4,513 100% Land 20% Self Storage 3% Other 14% Construction 14% Land 7% Office 2%

 

10 Nashville 40% Memphis 5%Knoxville 3%Huntsville 6% Birmingham 14% Chattanooga 1% Other 7% Atlanta 12% Communities 12% Class A 22% Class B 44% Class C 12% Under $2 Million 22% Office exposure Geographic exposure Note: Data as of June 30, 2026. Data is only non-owner occupied CRE & C&D loans. Data excludes medical office buildings. Credit detail by class Class Outstanding ($mm) Avg. Balance ($mm) Wtd. Avg. LTV Wtd. Avg Occupancy Class A > $2 million $114.7 $8.2 57.5% 88.9% Class B > $2 million 236.1 5.6 63.3% 80.4% Class C > $2 million 61.6 6.2 64.1% 82.7% Total > $2 million $412.4 $6.2 61.8% 83.1% Total < $2 million 118.5 0.6 N/A N/A Total Office $530.9 $1.9 N/A N/A Exposure by class • Office loans as of 2Q26 – • Represent ~4% of total Loans HFI population • 97% of portfolio is pass rated and current • 16% of portfolio matures by year-end 2026 • 50% fixed rate & 50% 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 19.2% 19.5% 18.9% 18.9% 19.3% 2.48% 2.53% 2.40% 2.27% 2.26% 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% 2Q25 3Q25 4Q25 1Q26 2Q26 Noninterest-bearing as % of total deposits Cost of total deposits (%) Deposits by customer segment ($billions) Highlights Noninterest -bearing checking 20% Interest- bearing checking 17% Money market & savings 40% Time 23% 37% Checking accounts Deposit composition $4.8 $6.0 $6.1 $6.1 $6.0 $4.8 $6.0 $6.2 $6.1 $6.3 $1.8 $1.8 $1.7 $1.9 $2.0 $11.4 $13.8 $14.0 $14.1 $14.3 2Q25 3Q25 4Q25 1Q26 2Q26 Consumer Commercial Public Total • Deposit balances grew at an annualized rate of 7.70% in the quarter • Customer deposits up ~$159 million, led by non- interest bearing and time deposits • Brokered deposits increased in the quarter, but remain minimal in the Company’s customer-focused deposit funding strategy • Cost of deposits decreased to 2.26%

 

12 $5,337 $34,417 $1,232 $3,024 $10,116 0.02% 0.05% 0.05% 0.11% 0.06% 2Q25 3Q25 4Q25 1Q26 2Q26 Provision for Credit Losses & Net Charge Offs ($ thousands) Provision for Credit Losses NCO Ratio (ann.) Asset Quality Metrics $148.9 $185.0 $186.0 $186.3 $194.0 1.51% 1.50% 1.50% 1.49% 1.51% 2Q25 3Q25 4Q25 1Q26 2Q26 Allowance for Credit Losses & Coverage Ratio ($ 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 2Q26 Financial Supplement. Highlights 2 1 0.76% 0.76% 0.80% 0.78% 0.95% 0.16% 0.13% 0.17% 0.20% 0.19%0.92% 0.89% 0.97% 0.98% 1.14% 2Q25 3Q25 4Q25 1Q26 2Q26 Nonperforming Assets / Total Assets Other NPAs Optional GNMA repurchase • Higher reserves in the quarter driven by strong loan growth, accounting for more-than-half of the QoQ increase • Remaining increase for two individually assessed loans, along with a modestly softer modeled economic forecast • Net charge-off ratio of ~0.06% remains in line with historical loss levels • NPAs driven by the migration of three lending relationships

 

13 1.51% 1.13% 1.20% 0.87% 2.14% 1.86% 1.82% 1.35% 3.10% 1.49% 1.14% 1.22% 1.00% 2.34% 1.45% 1.79% 1.37% 3.29% 1.51% 1.16% 1.39% 0.89% 2.37% 1.51% 1.77% 1.27% 3.29% Gross Loans HFI Commercial & Industrial Non-Owner Occ CRE Owner Occ CRE Construction Multifamily 1-4 Family Mortgage 1-4 Family HELOC Consumer & Other 2Q25 1Q26 2Q26 Allowance Modeling & Reserve Allocation ACL on loans HFI / Loans HFI by category Key forecast inputs1 3Q26 4Q26 1Q27 2Q27 National Unemployment Rate 4.5 4.8 5.0 5.0 CRE Price Index (0.1) 0.1 0.1 0.4 National Housing Price Index (1.5) (2.9) (0.4) 0.1 Prime Rate 6.7 6.7 6.7 6.6 1 Source: Moody’s “June 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. • Modestly softer economic forecast driven by – • Slight increase in inflationary pressures • Moderation of forecasted GDP growth expectations • Persisting uncertainty with the Middle Eastern conflict • Delayed benefits of lower oil prices at quarter-end • Utilized a weighted approach in ACL economic forecast • 1.51% ACL coverage at period end

 

14 Capital & Liquidity Simple Capital Structure Common Equity Tier 1 Capital 86% Subordinated Notes 4% Tier 2 ACL 10% Total regulatory capital: $1,890 1 Non-GAAP financial measure; See "Use of non-GAAP Financial Measures” and Non-GAAP reconciliations herein. 2 2Q26 calculation is preliminary and subject to change. 3 Includes capacity from internal policy and does not include loans held at the REIT that could be pledged for additional capacity. On-balance sheet liquidity ($mm) $1,713 $1,890 $1,805 $1,795 $1,810 13.1% 11.9% 11.3% 11.2% 11.0% 2Q25 3Q25 4Q25 1Q26 2Q26 On-balance sheet liquidity On-balance sheet liquidity / tangible assets Capital Position 2Q25 1Q26 2Q26 Shareholder’s Equity/Assets 12.1% 12.0% 11.5% TCE/TA1 10.4% 9.91% 9.49% Common Equity Tier 12 12.3% 11.5% 11.0% Tier 1 Risk-Based2 12.6% 11.5% 11.0% Total Risk-Based2 14.7% 13.4% 12.9% AOCI Adjusted Ratios:1,2 Adj. Common Equity Tier 1 10.8% Adj. Total Risk-Based 12.6% 1 • Capital and liquidity levels remain strong and well- above required regulatory thresholds • Executed share repurchases in the quarter totaling ~3% of shares outstanding • Securities portfolio makes up 9% of total assets and does not include any HTM securities • 2Q26 available sources of liquidity include $1.8 billion on-balance sheet and $8.4 billion in total other sources3

 

15 Mortgage results 2.86% 2.69% 2.97% 2.89% 2.49% 2Q25 3Q25 4Q25 1Q26 2Q26 Interest rate lock commitment volume ($mm) Mortgage gain on sale margin $402 $342 $279 $366 $380 $55 $90 $107 $124 $56 $457 $432 $386 $490 $436 2Q25 3Q25 4Q25 1Q26 2Q26 Purchase Refinance Highlights Mortgage Banking Segment ($ thousands) 2Q25 1Q26 2Q26 Total Revenue $ 15,674 $ 15,256 $ 14,917 Provision for loan losses 4,755 1,037 977 Noninterest expense 13,931 13,588 12,361 Pre-tax net contribution after allocations (3,012) 631 1,579 Total Assets 617,408 765,191 780,407 Efficiency Ratio 88.9% 89.1% 82.9% Adj Efficiency Ratio1 89.1% 89.6% 83.6% 1 Non-GAAP financial measure; See "Use of non-GAAP Financial Measures” and Non-GAAP reconciliations herein. • Mortgage segment pre-tax net contribution of $1.6 million in the quarter • Segment revenue decreased ~2%, impacted by a modest increase in market rates and continued market volatility • Lower personnel costs drove improved segment expense and efficiency ratio

 

16 Appendix

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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