EX-99.2 3 a1q26supplementalfinancial.htm EX-99.2 Document




















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First Quarter 2026
Financial Supplement



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



Use of non-GAAP Financial Measures
 
This Financial Supplement contains certain financial measures that are not measures recognized under U.S. generally accepted accounting principles (“GAAP”) and therefore are considered non-GAAP financial measures. These non-GAAP financial measures may include, without limitation, adjusted net income, adjusted diluted earnings per common share, adjusted pre-tax pre-provision net revenue, consolidated and segment adjusted revenue, consolidated and segment adjusted noninterest expense and adjusted noninterest income, consolidated and segment adjusted efficiency ratio (tax-equivalent basis), adjusted return on average assets and equity, and adjusted pre-tax pre-provision return on average assets. Each of these non-GAAP metrics excludes certain income and expense items that the Company’s management considers to be adjusted in nature. The Company refers to these non-GAAP measures as adjusted measures. Also, the Company presents tangible assets, tangible common equity, tangible book value per common share, tangible common equity to tangible assets, on-balance sheet liquidity to tangible assets, return on average tangible common equity, and adjusted return on average tangible common equity. Each of these non-GAAP metrics excludes the impact of goodwill and other intangibles.
The Company’s management uses these non-GAAP financial measures in their analysis of the Company’s performance, financial condition and the efficiency of its operations as management believes such measures facilitate period-to-period comparisons and provide meaningful indications of its operating performance as they eliminate both gains and charges that management views as non-recurring or not indicative of operating performance. Management believes that these non-GAAP financial measures provide a greater understanding of ongoing operations and enhance comparability of results with prior periods as well as demonstrate the effects of significant non-adjusted gains and charges in the current and prior periods. The Company’s management also believes that investors find these non-GAAP financial measures useful as they assist investors in understanding the Company’s underlying operating performance and in the analysis of ongoing operating trends. In addition, because intangible assets such as goodwill and the other items excluded each vary extensively from company to company, the Company believes that the presentation of this information allows investors to more easily compare the Company’s results to the results of other companies. However, the non-GAAP financial measures discussed herein should not be considered in isolation or as a substitute for the most directly comparable or other financial measures calculated in accordance with GAAP. Moreover, the manner in which the Company calculates the non-GAAP financial measures discussed herein may differ from that of other companies reporting measures with similar names. Investors should understand how such other banking organizations calculate their financial measures with names similar to the non-GAAP financial measures the Company has discussed herein when comparing such non-GAAP financial measures. See the corresponding non-GAAP reconciliation tables below in this 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 Share Data)
As of or for the Three Months Ended
Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025
Selected Balance Sheet Data
Cash and cash equivalents$1,157,763 $1,155,895 $1,280,033 $1,165,729 $794,706 
Investment securities, at fair value1,498,547 1,459,734 1,428,401 1,337,565 1,580,720 
Loans held for sale231,359 201,076 167,449 144,212 172,770 
Loans HFI12,503,815 12,383,626 12,297,600 9,874,282 9,771,536 
Allowance for credit losses on loans HFI(186,324)(185,983)(184,993)(148,948)(150,531)
Total assets16,468,439 16,300,292 16,236,459 13,354,238 13,136,449 
Interest-bearing deposits (non-brokered)10,838,139 10,649,932 10,634,555 8,692,848 8,623,636 
Brokered deposits574,216 625,634 487,765 518,719 414,428 
Noninterest-bearing deposits2,664,480 2,634,395 2,690,635 2,191,903 2,163,934 
Total deposits14,076,835 13,909,961 13,812,955 11,403,470 11,201,998 
Borrowings213,188 212,764 213,638 164,485 168,944 
Allowance for credit losses on unfunded commitments15,398 16,196 17,392 12,932 6,493 
Total common shareholders' equity1,973,873 1,948,165 1,978,043 1,611,130 1,601,962 
Selected Statement of Income Data
Total interest income$225,350 $235,238 $236,898 $182,084 $179,706 
Total interest expense79,385 85,434 89,658 70,669 72,065 
Net interest income145,965 149,804 147,240 111,415 107,641 
Total noninterest income (loss)26,375 28,795 26,635 (34,552)23,032 
Total noninterest expense95,164 107,548 109,856 81,261 79,549 
Earnings (losses) before income taxes and provisions for credit
   losses		77,176 71,051 64,019 (4,398)51,124 
Provisions for credit losses3,024 1,232 34,417 5,337 2,292 
Income tax expense (benefit)16,626 12,834 6,227 (12,652)9,471 
Net income applicable to noncontrolling interest— 8 — 8 — 
Net income applicable to FB Financial Corporation$57,526 $56,977 $23,375 $2,909 $39,361 
Net interest income (tax-equivalent basis)$146,774 $150,642 $148,088 $112,236 $108,427 
Adjusted net income*$58,271 $61,494 $57,606 $40,821 $40,108 
Adjusted pre-tax, pre-provision net revenue*$78,184 $77,118 $80,980 $58,649 $52,134 
Per Common Share
Diluted net income$1.10 $1.07 $0.43 $0.06 $0.84 
Adjusted diluted net income*1.12 1.16 1.07 0.88 0.85 
Book value38.39 37.64 37.00 35.17 34.44 
Tangible book value*31.00 30.27 29.83 29.78 29.12 
Weighted average number of shares outstanding - fully diluted52,203,469 53,074,753 53,957,062 46,179,090 47,024,211 
Period-end number of shares 51,418,024 51,752,401 53,456,522 45,807,689 46,514,547 
Selected Ratios
Return on average:
Assets1.43 %1.40 %0.58 %0.09 %1.21 %
Shareholders’ equity11.9 %11.6 %4.69 %0.74 %10.1 %
Tangible common equity*14.7 %14.4 %5.82 %0.87 %11.9 %
Efficiency ratio 55.2 %60.2 %63.2 %105.7 %60.9 %
Adjusted efficiency ratio (tax-equivalent basis)*54.3 %56.3 %53.3 %56.9 %59.9 %
Loans HFI to deposit ratio88.8 %89.0 %89.0 %86.6 %87.2 %
Noninterest-bearing deposits to total deposits 18.9 %18.9 %19.5 %19.2 %19.3 %
Net interest margin (NIM) (tax-equivalent basis)3.94 %3.98 %3.95 %3.68 %3.55 %
Yield on interest-earning assets6.07 %6.23 %6.35 %5.99 %5.91 %
Cost of interest-bearing liabilities2.83 %3.02 %3.21 %3.13 %3.16 %
Cost of total deposits2.27 %2.40 %2.53 %2.48 %2.54 %
Credit Quality Ratios
Allowance for credit losses on loans HFI as a percentage of loans HFI1.49 %1.50 %1.50 %1.51 %1.54 %
Annualized net charge-offs as a percentage of average loans HFI0.11 %0.05 %0.05 %0.02 %0.14 %
Nonperforming loans HFI as a percentage of loans HFI0.96 %0.97 %0.94 %0.97 %0.79 %
Nonperforming assets as a percentage of total assets0.98 %0.97 %0.89 %0.92 %0.84 %
Preliminary Capital Ratios (consolidated)
Total common shareholders’ equity to assets12.0 %12.0 %12.2 %12.1 %12.2 %
Tangible common equity to tangible assets*9.91 %9.84 %10.1 %10.4 %10.5 %
Tier 1 leverage10.4 %10.3 %10.6 %11.3 %11.4 %
Tier 1 risk-based capital 11.5 %11.4 %11.7 %12.6 %13.1 %
Total risk-based capital 13.4 %13.2 %13.6 %14.7 %15.2 %
Common equity Tier 1 11.5 %11.4 %11.7 %12.3 %12.8 %
*Non-GAAP financial measure; See “Use of non-GAAP Financial Measures”and Non-GAAP reconciliations herein.
FB Financial Corporation
4

Consolidated Statements of Income
(Unaudited)
(Dollars in Thousands, Except Share Data)
  Mar 2026Mar 2026
  vs.vs.
 Three Months EndedDec 2025Mar 2025
Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Percent variance Percent variance
Interest income:
Interest and fees on loans$201,257 $209,734 $209,307 $159,697 $153,185 (4.04)%31.4 %
Interest on investment securities
Taxable13,575 14,380 14,395 14,661 14,471 (5.60)%(6.19)%
Tax-exempt1,054 1,058 1,058 1,036 1,033 (0.38)%2.03 %
Other9,464 10,066 12,138 6,690 11,017 (5.98)%(14.1)%
Total interest income225,350 235,238 236,898 182,084 179,706 (4.20)%25.4 %
Interest expense:
Deposits77,878 83,813 86,577 68,568 70,249 (7.08)%10.9 %
Borrowings1,507 1,621 3,081 2,101 1,816 (7.03)%(17.0)%
Total interest expense79,385 85,434 89,658 70,669 72,065 (7.08)%10.2 %
Net interest income145,965 149,804 147,240 111,415 107,641 (2.56)%35.6 %
Provision for (reversal of) credit losses on loans HFI3,822 2,428 29,957 (1,102)1,906 57.4 %100.5 %
(Reversal of) provision for credit losses on unfunded
   commitments		(798)(1,196)4,460 6,439 386 (33.3)%(306.7)%
Net interest income after provisions for credit
   losses		142,941 148,572 112,823 106,078 105,349 (3.79)%35.7 %
Noninterest income:
Mortgage banking income12,253 13,505 13,484 13,029 12,426 (9.27)%(1.39)%
Service charges on deposit accounts4,376 4,184 4,049 3,392 3,479 4.59 %25.8 %
Investment services and trust income4,348 4,473 4,227 3,922 3,711 (2.79)%17.2 %
ATM and interchange fees2,977 3,146 3,388 2,878 2,677 (5.37)%11.2 %
Gain (loss) from securities, net1 64 12 (60,549)16 (98.4)%(93.8)%
(Loss) gain on sales or write-downs of premises and
   equipment, other real estate owned and other assets, net
(320)(131)(646)236 (625)144.3 %(48.8)%
Other income2,740 3,554 2,121 2,540 1,348 (22.9)%103.3 %
Total noninterest income (loss)26,375 28,795 26,635 (34,552)23,032 (8.40)%14.5 %
Total revenue172,340 178,599 173,875 76,863 130,673 (3.50)%31.9 %
Noninterest expenses:
Salaries, commissions and employee benefits57,348 63,529 59,210 46,631 48,351 (9.73)%18.6 %
Occupancy and equipment expense7,476 7,239 7,539 6,710 6,597 3.27 %13.3 %
Data processing 2,454 2,809 2,457 2,161 2,313 (12.6)%6.10 %
Advertising2,148 2,464 2,453 2,178 2,487 (12.8)%(13.6)%
Legal and professional fees1,980 2,503 1,227 2,426 1,992 (20.9)%(0.60)%
Amortization of core deposits and other intangibles1,869 1,932 2,079 631 656 (3.26)%184.9 %
Merger and integration costs1,447 4,611 16,057 2,734 401 (68.6)%260.8 %
Other expense20,442 22,461 18,834 17,790 16,752 (8.99)%22.0 %
Total noninterest expense95,164 107,548 109,856 81,261 79,549 (11.5)%19.6 %
Income (loss) before income taxes74,152 69,819 29,602 (9,735)48,832 6.21 %51.9 %
Income tax expense (benefit) 16,626 12,834 6,227 (12,652)9,471 29.5 %75.5 %
Net income applicable to FB Financial
Corporation and noncontrolling interest
57,526 56,985 23,375 2,917 39,361 0.95 %46.1 %
Net income applicable to noncontrolling interest— 8 — 8 — (100.0)%— %
Net income applicable to FB Financial
Corporation
$57,526 $56,977 $23,375 $2,909 $39,361 0.96 %46.1 %
Weighted average common shares outstanding:  
Basic51,724,458 52,621,950 53,627,997 45,946,428 46,674,698 (1.71)%10.8 %
Fully diluted52,203,469 53,074,753 53,957,062 46,179,090 47,024,211 (1.64)%11.0 %
Earnings per common share:  
Basic$1.11 $1.08 $0.44 $0.06 $0.84 2.78 %32.1 %
Fully diluted1.10 1.07 0.43 0.06 0.84 2.80 %31.0 %
Fully diluted - adjusted*1.12 1.16 1.07 0.88 0.85 (3.45)%31.8 %
*Non-GAAP financial measure; See “Use of non-GAAP Financial Measures”and Non-GAAP reconciliations herein.




FB Financial Corporation
5

Consolidated Balance Sheets
(Unaudited)
(Dollars in Thousands)
  Annualized 
  Mar 2026Mar 2026
  vs.vs.
As ofDec 2025Mar 2025
Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Percent variance Percent variance
ASSETS
Cash and due from banks$159,883 $196,213 $154,286 $143,317 $149,607 (75.1)%6.87 %
Federal funds sold and reverse repurchase agreements
199,009 213,391 283,451 352,124 109,982 (27.3)%80.9 %
Interest-bearing deposits in financial institutions798,871 746,291 842,296 670,288 535,117 28.6 %49.3 %
Cash and cash equivalents1,157,763 1,155,895 1,280,033 1,165,729 794,706 0.66 %45.7 %
Investments:
Available-for-sale debt securities, at fair value1,498,547 1,459,579 1,426,951 1,337,565 1,580,720 10.8 %(5.20)%
Equity securities, at fair value— 155 1,450 — — (100.0)%— %
Restricted equity securities, at cost79,458 79,046 36,231 33,626 32,234 2.11 %146.5 %
Loans held for sale231,359 201,076 167,449 144,212 172,770 61.1 %33.9 %
Loans held for investment12,503,815 12,383,626 12,297,600 9,874,282 9,771,536 3.94 %28.0 %
Less: allowance for credit losses on loans HFI186,324 185,983 184,993 148,948 150,531 0.74 %23.8 %
Net loans held for investment12,317,491 12,197,643 12,112,607 9,725,334 9,621,005 3.98 %28.0 %
Premises and equipment, net181,268 182,370 183,595 147,243 146,272 (2.45)%23.9 %
Other real estate owned, net6,449 6,009 4,466 2,998 3,326 29.7 %93.9 %
Operating lease right-of-use assets48,223 49,249 51,035 47,764 47,381 (8.45)%1.78 %
Interest receivable59,837 58,565 60,755 50,386 51,268 8.81 %16.7 %
Mortgage servicing rights, at fair value147,344 148,795 149,840 153,464 156,379 (3.95)%(5.78)%
Goodwill350,353 350,353 350,353 242,561 242,561 — %44.4 %
Core deposit and other intangibles, net29,415 31,284 33,216 4,475 5,106 (24.2)%476.1 %
Bank-owned life insurance110,484 111,865 113,374 72,686 72,400 (5.01)%52.6 %
Other assets250,448 268,408 265,104 226,195 210,321 (27.1)%19.1 %
Total assets$16,468,439 $16,300,292 $16,236,459 $13,354,238 $13,136,449 4.18 %25.4 %
LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities:
Deposits
Noninterest-bearing$2,664,480 $2,634,395 $2,690,635 $2,191,903 $2,163,934 4.63 %23.1 %
Interest-bearing checking2,642,713 2,651,369 2,458,625 2,325,551 2,776,958 (1.32)%(4.83)%
Money market and savings5,886,370 5,969,640 5,968,094 4,645,552 4,482,908 (5.66)%31.3 %
Customer time deposits2,309,056 2,028,923 2,206,790 1,721,745 1,363,770 56.0 %69.3 %
Brokered and internet time deposits574,216 625,634 488,811 518,719 414,428 (33.3)%38.6 %
Total deposits14,076,835 13,909,961 13,812,955 11,403,470 11,201,998 4.87 %25.7 %
Borrowings213,188 212,764 213,638 164,485 168,944 0.81 %26.2 %
Operating lease liabilities59,106 60,556 62,664 59,289 59,174 (9.71)%(0.11)%
Accrued expenses and other liabilities145,344 168,753 169,066 115,771 104,278 (56.3)%39.4 %
Total liabilities14,494,473 14,352,034 14,258,323 11,743,015 11,534,394 4.02 %25.7 %
Shareholders’ equity:
Common stock, $1 par value51,418 51,752 53,457 45,808 46,515 (2.62)%10.5 %
Additional paid-in capital1,064,619 1,082,344 1,163,164 822,548 854,715 (6.64)%24.6 %
Retained earnings893,095 846,620 799,900 786,785 792,685 22.3 %12.7 %
Accumulated other comprehensive loss, net(35,259)(32,551)(38,478)(44,011)(91,953)33.7 %(61.7)%
Total common shareholders’ equity1,973,873 1,948,165 1,978,043 1,611,130 1,601,962 5.35 %23.2 %
Noncontrolling interest93 93 93 93 93 — %— %
Total equity1,973,966 1,948,258 1,978,136 1,611,223 1,602,055 5.35 %23.2 %
Total liabilities and shareholders’ equity$16,468,439 $16,300,292 $16,236,459 $13,354,238 $13,136,449 4.18 %25.4 %

FB Financial Corporation
6

Average Balance and Interest Yield/Rate Analysis
(Unaudited)
(Dollars in Thousands)
 Three Months Ended
 March 31, 2026December 31, 2025
 Average
balances		Interest
income/
expense		Average
yield/
rate		Average
balances		Interest
income/
expense		Average
yield/
rate
Interest-earning assets:      
Loans HFI(a)(b)
$12,415,278 $199,145 6.51 %$12,368,964 $207,140 6.64 %
Mortgage loans held for sale171,452 2,550 6.03 %169,422 3,059 7.16 %
Investment securities:
Taxable1,378,627 13,575 3.99 %1,346,232 14,380 4.24 %
Tax-exempt(b)
168,658 1,425 3.43 %169,355 1,431 3.35 %
Total investment securities(b)
1,547,285 15,000 3.93 %1,515,587 15,811 4.14 %
Federal funds sold and reverse repurchase agreements207,809 2,021 3.94 %238,393 2,426 4.04 %
Interest-bearing deposits with other financial institutions698,672 6,337 3.68 %693,612 6,800 3.89 %
Restricted equity securities, at cost79,257 1,106 5.66 %49,029 840 6.80 %
Total interest-earning assets(b)
15,119,753 226,159 6.07 %15,035,007 236,076 6.23 %
Noninterest-earning assets: 
Cash and due from banks147,305 137,536 
Allowance for credit losses on loans HFI(188,214)(185,526)
Other assets(c)(d)
1,179,428 1,164,178 
Total noninterest-earning assets1,138,519 1,116,188 
Total assets$16,258,272 $16,151,195 
Interest-bearing liabilities:
Interest-bearing deposits: 
Interest-bearing checking$2,628,330 $12,348 1.91 %$2,379,679 $11,538 1.92 %
Money market5,471,973 39,871 2.96 %5,609,158 46,018 3.25 %
Savings deposits447,380 656 0.59 %417,110 419 0.40 %
Customer time deposits2,116,914 19,000 3.64 %2,088,577 19,561 3.72 %
Brokered and internet time deposits604,764 6,003 4.03 %608,136 6,277 4.10 %
       Time deposits2,721,678 25,003 3.73 %2,696,713 25,838 3.80 %
Total interest-bearing deposits11,269,361 77,878 2.80 %11,102,660 83,813 2.99 %
Other interest-bearing liabilities: 
Securities sold under agreements to repurchase and federal funds purchased12,554 16 0.52 %12,473 31 0.99 %
Federal Home Loan Bank advances— — — %— — — %
Subordinated debt83,798 1,486 7.19 %83,458 1,491 7.09 %
Other borrowings1,118 5 1.81 %9,296 99 4.23 %
Total other interest-bearing liabilities97,470 1,507 6.27 %105,227 1,621 6.11 %
Total interest-bearing liabilities11,366,831 79,385 2.83 %11,207,887 85,434 3.02 %
Noninterest-bearing liabilities: 
Demand deposits2,652,462 2,733,207 
Other liabilities(d)
273,009 253,375 
Total noninterest-bearing liabilities2,925,471 2,986,582 
Total liabilities14,292,302 14,194,469 
Total common shareholders’ equity1,965,877 1,956,633 
Noncontrolling interest93 93 
Total equity1,965,970 1,956,726 
Total liabilities and shareholders’ equity$16,258,272 $16,151,195 
Net interest income(b)
 $146,774 $150,642 
Interest rate spread(b)
  3.24 %3.21 %
Net interest margin(b)(e)
  3.94 %3.98 %
Cost of total deposits  2.27 %2.40 %
Average interest-earning assets to average interest-bearing liabilities  133.0 %134.1 %
Tax-equivalent adjustment $809 $838 
Loans HFI yield components:  
    Contractual interest rate(b)
 $190,529 6.22 %$197,683 6.34 %
    Origination and other loan fee income 2,148 0.07 %2,633 0.08 %
    Accretion on purchased loans 6,297 0.21 %6,406 0.21 %
    Nonaccrual interest 171 0.01 %418 0.01 %
          Total loans HFI yield $199,145 6.51 %$207,140 6.64 %
(a) Average balances of nonaccrual loans and overdrafts are included in average loan balances.
(b) Includes tax-equivalent adjustment using combined federal and blended state statutory income tax rate of 26.06%..
(c) Includes average net unrealized losses on investment securities available for sale of $43,443 and $51,415 for the three months ended March 31, 2026 and December 31, 2025, respectively.
(d) Includes average of optional rights to repurchase government guaranteed GNMA mortgage loans previously sold that have become past due greater than 90 days of $31,982 and 23,208 for the three months ended March 31, 2026 and December 31, 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
7

Average Balance and Interest Yield/Rate Analysis (continued)
(Unaudited)
(Dollars in Thousands)
 Three Months Ended
 September 30, 2025June 30, 2025March 31, 2025
 Average
balances		Interest
income/
expense		Average
yield/
rate		Average
balances		Interest
income/
expense		Average
yield/
rate		Average
balances		Interest
income/
expense		Average
yield/
rate
Interest-earning assets:   
Loans HFI(a)(b)
$12,189,401 $207,423 6.75 %$9,840,932 $157,964 6.44 %$9,621,057 $152,174 6.41 %
Mortgage loans held for sale162,205 2,359 5.77 %126,072 2,189 6.96 %93,944 1,433 6.19 %
Investment securities:
Taxable1,304,894 14,395 4.38 %1,534,895 14,661 3.83 %1,541,868 14,471 3.81 %
Tax-exempt(b)
169,523 1,431 3.35 %167,675 1,401 3.35 %167,958 1,397 3.37 %
Total investment securities(b)
1,474,417 15,826 4.26 %1,702,570 16,062 3.78 %1,709,826 15,868 3.76 %
Federal funds sold and reverse repurchase   agreements331,029 3,966 4.75 %113,252 1,256 4.45 %123,390 1,374 4.52 %
Interest-bearing deposits with other financial institutions671,634 7,340 4.34 %426,073 4,733 4.46 %811,216 8,902 4.45 %
Restricted equity securities, at cost36,907 832 8.94 %35,623 701 7.89 %32,493 741 9.25 %
Total interest-earning assets(b)
14,865,593 237,746 6.35 %12,244,522 182,905 5.99 %12,391,926 180,492 5.91 %
Noninterest-earning assets:
Cash and due from banks139,226 115,717 123,158 
Allowance for credit losses on loans HFI(181,973)(151,586)(152,234)
Other assets(c)(d)
1,184,942 823,837 844,119 
Total noninterest-earning assets1,142,195 787,968 815,043 
Total assets$16,007,788 $13,032,490 $13,206,969 
Interest-bearing liabilities:
Interest-bearing deposits:
    Interest-bearing checking$2,331,589 $12,383 2.11 %$2,521,239 $15,870 2.52 %$2,840,211 $18,267 2.61 %
    Money market5,561,538 49,019 3.50 %4,115,987 34,957 3.41 %4,083,754 34,360 3.41 %
    Savings deposits406,787 248 0.24 %352,307 98 0.11 %353,865 66 0.08 %
    Customer time deposits1,997,905 18,965 3.77 %1,404,368 12,454 3.56 %1,373,045 12,702 3.75 %
    Brokered and internet time deposits560,127 5,962 4.22 %481,686 5,189 4.32 %443,923 4,854 4.43 %
       Time deposits2,558,03224,9273.87 %1,886,054 17,643 3.75 %1,816,968 17,556 3.92 %
Total interest-bearing deposits10,857,94686,5773.16 %8,875,587 68,568 3.10 %9,094,798 70,249 3.13 %
Other interest-bearing liabilities:
Securities sold under agreements to repurchase and federal funds purchased13,144 31 0.94 %11,107 26 0.94 %11,046 6 0.22 %
  Federal Home Loan Bank advances15,217 172 4.48 %23,077 258 4.48 %— — — %
  Subordinated debt180,805 2,872 6.30 %130,851 1,813 5.56 %130,755 1,804 5.60 %
  Other borrowings1,168 6 2.04 %2,294 4 0.70 %1,220 6 1.99 %
Total other interest-bearing liabilities210,334 3,081 5.81 %167,329 2,101 5.04 %143,021 1,816 5.15 %
Total interest-bearing liabilities11,068,280 89,658 3.21 %9,042,916 70,669 3.13 %9,237,819 72,065 3.16 %
Noninterest-bearing liabilities:
Demand deposits2,724,898 2,206,305 2,134,924 
Other liabilities(d)
236,732 200,077 250,175 
Total noninterest-bearing liabilities2,961,630 2,406,382 2,385,099 
Total liabilities14,029,910 11,449,298 11,622,918 
Total common shareholders’ equity1,977,785 1,583,099 1,583,958 
Noncontrolling interest93 93 93 
Total equity1,977,878 1,583,192 1,584,051 
Total liabilities and shareholders’ equity$16,007,788 $13,032,490 $13,206,969 
Net interest income(b)
$148,088 $112,236 $108,427 
Interest rate spread(b)
3.14 %2.86 %2.75 %
Net interest margin(b)(e)
3.95 %3.68 %3.55 %
Cost of total deposits2.53 %2.48 %2.54 %
Average interest-earning assets to average interest-bearing liabilities134.3 %135.4 %134.1 %
Tax-equivalent adjustment$848 $821 $786 
Loans HFI yield components:
    Contractual interest rate(b)
$198,320 6.45 %$155,697 6.34 %$149,819 6.31 %
    Origination and other loan fee income1,575 0.05 %1,945 0.08 %1,797 0.08 %
    Accretion (amortization) on purchased loans7,025 0.23 %(62)— %2 — %
    Nonaccrual interest503 0.02 %384 0.02 %556 0.02 %
          Total loans HFI yield$207,423 6.75 %$157,964 6.44 %$152,174 6.41 %
(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 $64,781, $128,818 and $132,262 for the three months ended September 30, 2025, June 30, 2025 and
March 31, 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 $21,645, $25,159
and $30,731 for the three months ended September 30, 2025, June 30, 2025 and March 31, 2025, respectively.
(e)The NIM is calculated by dividing annualized net interest income, on a tax-equivalent basis, by average total interest earning assets.

FB Financial Corporation
8

Investments and Other Sources of Liquidity
(Unaudited)
(Dollars in Thousands)
 As of
Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025
Investment securities, at fair value
Available-for-sale debt securities:  
  U.S. government agency securities$713,910 48 %$670,088 46 %$653,197 46 %$642,264 48 %$602,942 38 %
  Mortgage-backed securities - residential599,180 40 %602,320 41 %587,587 41 %541,343 40 %816,556 52 %
  Mortgage-backed securities - commercial10,632 1 %10,678 1 %10,681 1 %8,752 1 %14,828 1 %
  Municipal securities166,033 11 %168,370 12 %165,411 12 %144,228 11 %145,396 9 %
  Treasury securities7,092 — %7,125 — %7,080 — %— — %— — %
  Corporate securities1,700 — %998 — %2,995 — %978 — %998 — %
Total available-for-sale debt securities1,498,547 100 %1,459,579 100 %1,426,951 100 %1,337,565 100 %1,580,720 100 %
Equity securities, at fair value — — %155 — %1,450 — %— — %— — %
Total investment securities, at fair value $1,498,547 100 %$1,459,734 100 %$1,428,401 100 %$1,337,565 100 %$1,580,720 100 %
Investment securities to total assets9.10 % 8.96 %8.80 %10.0 %12.0 %
Unrealized loss on available-for-sale debt securities(51,495)(47,887)(55,890)(63,262)(128,173)
Sources of liquidity
Current on-balance sheet:
  Cash and cash equivalents$1,157,76365 %$1,155,89564 %$1,280,03368 %$1,165,72968 %$794,70653 %
  Unpledged available-for-sale debt securities637,18235 %649,00036 %608,71632 %547,35432 %703,11747 %
  Equity securities, at fair value—— %155— %1,450 — %— — %—— %
Total on-balance sheet liquidity$1,794,945100 %$1,805,050100 %$1,890,199 100 %$1,713,083 100 %$1,497,823 100 %
Available sources of liquidity:
  Unsecured borrowing capacity(a)
$4,021,984 47 %$3,915,314 47 %$4,018,822 52 %$3,325,751 48 %$3,369,107 48 %
   FHLB remaining borrowing capacity2,213,25126 %2,214,79626 %1,551,28320 %1,481,37621 %1,476,68821 %
   Federal Reserve discount window2,319,52127 %2,268,59927 %2,196,78528 %2,119,01831 %2,134,44831 %
Total available sources of liquidity$8,554,756 100 %$8,398,709 100 %$7,766,890 100 %$6,926,145 100 %$6,980,243 100 %
On-balance sheet liquidity as a
    percentage of total assets		10.9 %11.1 %11.6 %12.8 %11.4 %
On-balance sheet liquidity as a
    percentage of total tangible assets*		11.2 %11.3 %11.9 %13.1 %11.6 %
On-balance sheet liquidity and available
    sources of liquidity as a percentage of
    estimated uninsured and
    uncollateralized deposits(b)
255.0 %264.8 %245.0 %289.5 %283.4 %
(a) Includes capacity available per internal policy in the form of brokered deposits and unsecured lines of credit.
(b) Amounts are shown on a fully consolidated basis and exclude deposits of affiliates that are eliminated in consolidation.
*Non-GAAP financial measure; See “Use of non-GAAP Financial Measures” and Non-GAAP reconciliations herein.


FB Financial Corporation
9

Loan Portfolio
(Unaudited)
(Dollars in Thousands)
 As of
 Mar 2026% of Total Dec 2025% of TotalSep 2025% of TotalJun 2025% of TotalMar 2025% of Total
Loan portfolio  
Commercial and industrial $2,239,228 18 %$2,181,935 18 %$2,155,105 17 %$1,788,911 18 %$1,782,981 18 %
Construction1,177,082 9 %1,188,494 10 %1,195,392 10 %1,022,678 10 %1,022,299 10 %
Residential real estate: 
1-to-4 family mortgage1,856,308 15 %1,838,122 15 %1,852,626 15 %1,660,696 17 %1,632,574 17 %
Residential line of credit768,190 6 %741,309 6 %707,303 6 %641,433 7 %613,868 6 %
Multi-family mortgage716,795 6 %745,360 6 %736,424 6 %587,254 6 %648,326 7 %
Commercial real estate: 
Owner-occupied2,204,731 18 %2,148,870 17 %2,124,920 17 %1,370,123 14 %1,356,007 14 %
Non-owner occupied2,869,759 23 %2,900,499 23 %2,890,233 24 %2,198,689 22 %2,153,825 22 %
Consumer and other671,722 5 %639,037 5 %635,597 5 %604,498 6 %561,656 6 %
Total loans HFI$12,503,815 100 %$12,383,626 100 %$12,297,600 100 %$9,874,282 100 %$9,771,536 100 %
Percentage of loans HFI portfolio with
    floating interest rates		52.3 %52.2 %51.5 %49.6 %49.7 %
Percentage of loans HFI portfolio with
  floating interest rates that mature after
  one year		49.0 %49.3 %48.0 %45.2 %44.4 %
Loans by market(a)
Metropolitan$5,642,300 45 %$5,812,055 47 %$5,828,109 48 %$4,964,113 50 %$5,005,392 51 %
Community3,055,745 25 %2,893,961 23 %2,876,244 23 %1,380,561 14 %1,367,412 14 %
Specialty lending and other3,805,770 30 %3,677,610 30 %3,593,247 29 %3,529,608 36 %3,398,732 35 %
Total$12,503,815 100 %$12,383,626 100 %$12,297,600 100 %$9,874,282 100 %$9,771,536 100 %
Unfunded loan commitments
Commercial and industrial $1,465,835 45 %$1,464,207 45 %$1,451,366 46 %$1,396,533 49 %$1,349,491 48 %
Construction730,199 23 %704,781 22 %731,742 23 %535,669 19 %540,992 19 %
Residential real estate:
1-to-4 family mortgage14,427 — %16,942 1 %5,581 — %3,545 — %5,094 — %
Residential line of credit837,761 26 %828,042 26 %808,961 25 %745,570 26 %743,413 27 %
Multi-family mortgage8,145 —%6,698 —%6,665 —%4,260 —%9,586 —%
Commercial real estate:
Owner-occupied97,430 3 %92,265 3 %96,287 3 %86,135 3 %68,566 3 %
Non-owner occupied59,417 2 %65,037 2 %68,293 2 %67,974 2 %63,948 2 %
Consumer and other23,763 1 %20,530 1 %21,480 1 %21,999 1 %14,547 1 %
Total unfunded loans HFI$3,236,977 100 %$3,198,502 100 %$3,190,375 100 %$2,861,685 100 %$2,795,637 100 %
(a) Prior period amounts have been recast to reflect updated definitions of market categories.
FB Financial Corporation
10

Asset Quality
As of or for the Three Months Ended
(Unaudited)
(Dollars in Thousands)
 As of or for the Three Months Ended
 Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025
Allowance for credit losses on loans HFI roll forward summary
Allowance for credit losses on loans HFI at the beginning of the period$185,983 $184,993 $148,948 $150,531 $151,942 
Charge-offs(4,033)(1,818)(1,709)(1,454)(3,893)
Recoveries552 380 279 973 576 
Impact of change in accounting estimate for current expected credit losses— — — (6,848)— 
Provision for credit losses on loans HFI3,822 2,428 29,957 5,746 1,906 
Initial allowance on acquired loans with credit deterioration— — 7,518 — — 
Allowance for credit losses on loans HFI at the end of the period$186,324 $185,983 $184,993 $148,948 $150,531 
Allowance for credit losses on loans HFI as a percentage of loans HFI1.49 %1.50 %1.50 %1.51 %1.54 %
Allowance for credit losses on unfunded commitments$15,398 $16,196 $17,392 $12,932 $6,493 
Charge-offs
Commercial and industrial$(2,168)$(65)$(100)$(70)$(2,901)
Construction(204)— (399)— — 
Residential real estate:
1-to-4 family mortgage(405)(368)(322)(433)(3)
Residential line of credit(23)— — — — 
Commercial real estate:
Owner occupied— — — — (17)
Consumer and other(1,233)(1,385)(888)(951)(972)
Total charge-offs(4,033)(1,818)(1,709)(1,454)(3,893)
Recoveries
Commercial and industrial101 159 12 173 42 
Construction25 — — — — 
Residential real estate:
1-to-4 family mortgage8 13 6 11 9 
Residential line of credit— — 11 1 — 
Commercial real estate:
Owner occupied13 8 4 9 21 
Non-owner occupied— — — 528 1 
Consumer and other405 200 246 251 503 
Total recoveries552 380 279 973 576 
Net charge-offs$(3,481)$(1,438)$(1,430)$(481)$(3,317)
Annualized net charge-offs as a percentage of average loans HFI0.11 %0.05 %0.05 %0.02 %0.14 %
Nonperforming assets
Loans past due 90 days or more and accruing interest$27,185 $32,751 $26,311 $21,962 $28,422 
Nonaccrual loans92,289 87,721 89,448 73,950 48,738 
Total nonperforming loans HFI
119,474 120,472 115,759 95,912 77,160 
Mortgage loans held for sale(a)
32,590 28,102 21,660 20,977 27,152 
Other real estate owned6,449 6,009 4,466 2,998 3,326 
Other repossessed assets3,518 3,564 3,314 3,151 2,791 
Total nonperforming assets$162,031 $158,147 $145,199 $123,038 $110,429 
Total nonperforming loans HFI as a percentage of loans HFI0.96 %0.97 %0.94 %0.97%0.79%
Total nonperforming assets as a percentage of total assets
0.98 %0.97 %0.89 %0.92%0.84%
Total nonaccrual loans as a percentage of loans HFI0.74 %0.71 %0.73 %0.75%0.50%
(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
11

 Selected Deposit Data
(Unaudited)
(Dollars in Thousands)
 As of
Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025
Deposits by market(a)
Metropolitan$6,304,30745 %$6,020,09543 %$5,766,85642 %$5,359,97447 %$5,390,43448 %
Community6,741,45248 %6,926,89750 %6,822,73649 %4,713,63742 %4,819,66543 %
Brokered/wholesale574,2164 %625,6345 %487,7654 %518,7194 %414,4284 %
Escrow and other(b)
456,8603 %337,3352 %735,5985 %811,1407 %577,4715 %
Total$14,076,835100 %$13,909,961100 %$13,812,955100 %$11,403,470100 %$11,201,998100 %
Deposits by customer
    segment
Consumer$6,060,11543 %$6,063,01544 %$5,966,45843 %$4,772,58242 %$4,868,54443 %
Commercial 6,155,87444 %6,162,22144 %6,045,41844 %4,835,96842 %4,695,92342 %
Public1,860,84613 %1,684,72512 %1,801,07913 %1,794,92016 %1,637,53115 %
Total$14,076,835100 %$13,909,961100 %$13,812,955100 %$11,403,470100 %$11,201,998100 %
Estimated insured or
   collateralized deposits		$10,017,773$9,825,599$9,871,337$8,418,783$8,210,241
Estimated uninsured
   and uncollateralized
   deposits(c)
$4,059,062$4,084,362$3,941,618$2,984,687$2,991,757
Estimated uninsured and
   uncollateralized deposits
    as a % of total
    deposits(c)
28.8 %29.4 %28.5 %26.2 %26.7 %
(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
12

Preliminary Capital Ratios
(Unaudited)
(Dollars in Thousands)
Computation of Tangible Common Equity to Tangible Assets:March 31, 2026December 31, 2025
Total Common Shareholders' Equity$1,973,873 $1,948,165 
Less:
    Goodwill350,353 350,353 
    Other intangibles29,415 31,284 
Tangible Common Equity$1,594,105 $1,566,528 
Total Assets$16,468,439 $16,300,292 
Less:
    Goodwill350,353 350,353 
    Other intangibles29,415 31,284 
Tangible Assets$16,088,671 $15,918,655 
Preliminary Total Risk-Weighted Assets$14,362,816 $14,253,337 
Total Common Equity to Total Assets12.0 %12.0 %
Tangible Common Equity to Tangible Assets*9.91 %9.84 %
 March 31, 2026December 31, 2025
Preliminary Regulatory Capital: 
    Common Equity Tier 1 Capital$1,656,459 $1,625,952 
    Tier 1 Capital1,656,459 1,625,952 
    Total Capital1,920,244 1,888,051 
Preliminary Regulatory Capital Ratios: 
    Common Equity Tier 1 11.5 %11.4 %
    Tier 1 Risk-Based11.5 %11.4 %
    Total Risk-Based 13.4 %13.2 %
    Tier 1 Leverage10.4 %10.3 %
*Non-GAAP financial measure; See “Use of non-GAAP Financial Measures” and Non-GAAP reconciliations herein.
FB Financial Corporation
13

 
Segment Data
(Unaudited)
(Dollars in Thousands)
 As of or for the Three Months Ended
Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025
Banking segment
Interest income$223,418 $233,202 $236,073 $180,960 $178,915 
Interest expense80,296 86,637 91,214 72,051 73,156 
Net interest income$143,122 $146,565 $144,859 $108,909 $105,759 
Provisions for credit losses1,987 796 34,070 582 2,189 
Noninterest income (loss)13,962 15,207 13,078 (47,720)10,660 
Salaries, commissions and employee benefits49,364 55,928 51,441 38,635 41,469 
Merger and integration costs1,447 4,611 16,057 2,734 401 
Other noninterest expense30,765 33,017 29,471 25,961 25,039 
Pre-tax net contribution (loss) after allocations$73,521 $67,420 $26,898 $(6,723)$47,321 
Total assets$15,703,248 $15,623,962 $15,598,629 $12,736,830 $12,490,097 
Efficiency ratio51.9 %57.8 %61.4 %110.0 %57.5 %
Adjusted efficiency ratio*50.9 %53.5 %50.6 %52.8 %56.5 %
Mortgage segment
Interest income$1,932 $2,036 $825 $1,124 $791 
Interest expense(911)(1,203)(1,556)(1,382)(1,091)
Net interest income$2,843 $3,239 $2,381 $2,506 $1,882 
Provisions for loan losses1,037 436 347 4,755 103 
Mortgage banking income12,253 13,505 13,484 13,029 12,426 
Other noninterest income (loss)160 83 73 139 (54)
Salaries, commissions and employee benefits7,984 7,601 7,769 7,996 6,882 
Other noninterest expense5,604 6,391 5,118 5,935 5,758 
Pre-tax net contribution (loss) after allocations$631 $2,399 $2,704 $(3,012)$1,511 
Total assets $765,191 $676,330 $637,830 $617,408 $646,352 
Efficiency ratio89.1 %83.2 %80.9 %88.9 %88.7 %
Adjusted efficiency ratio*89.6 %83.2 %80.9 %89.1 %87.9 %
Interest rate lock commitments volume$490,265 $385,516 $432,149 $456,720 $381,777 
Interest rate lock commitments pipeline (period end)$133,669 $86,586 $128,961 $127,004 $118,200 
Mortgage loan sales$295,123 $336,085 $343,450 $391,061 $222,805 
Gains and fees from origination and sale of mortgage loans held for sale$8,517 $9,976 $9,237 $11,200 $5,602 
Net change in fair value of loans held for sale, derivatives, and other1,008 (57)801 (876)2,816 
Mortgage servicing income6,580 6,668 6,836 6,936 7,077 
Change in fair value of mortgage servicing rights, net of hedging(3,852)(3,082)(3,390)(4,231)(3,069)
Total mortgage banking income$12,253 $13,505 $13,484 $13,029 $12,426 
Mortgage sale margin(a)
2.89 %2.97 %2.69 %2.86 %2.51 %
*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
14

Non-GAAP Reconciliations
(Unaudited)
(Dollars in Thousands, Except Share Data)
Three Months Ended
Adjusted net incomeMar 2026Dec 2025Sep 2025Jun 2025Mar 2025
Income (loss) before income taxes$74,152 $69,819 $29,602 $(9,735)$48,832 
Less gain (loss) from securities, net1 64 12 (60,549)16 
Less (loss) gain on sales or write-downs of premises and equipment, other real estate
   owned and other assets, net		(320)(131)(646)236 (625)
Less cash life insurance benefit763 1,148 — — — 
Plus initial provision for credit losses on acquired
    loans and unfunded commitments		— — 28,366 — — 
Plus early retirement and severance costs— 1,395 — — — 
Plus loss on lease terminations and other branch
    closure costs		5 12 270 — — 
Plus certain nonrecurring charitable contributions— 1,130 — — — 
Plus merger and integration costs1,447 4,611 16,057 2,734 401 
Adjusted pre-tax net income75,160 75,886 74,929 53,312 49,842 
Less income tax expense, adjusted for items
   above(a)
16,889 14,392 17,323 3,778 9,734 
Plus income tax benefit(b)
— — — (8,713)— 
Adjusted net income$58,271 $61,494 $57,606 $40,821 $40,108 
Weighted average common shares outstanding - fully
     diluted		52,203,469 53,074,753 53,957,062 46,179,090 47,024,211 
Adjusted diluted earnings per common share
Diluted earnings per common share$1.10 $1.07 $0.43 $0.06 $0.84 
Adjusted diluted earnings per common share $1.12 $1.16 $1.07 $0.88 $0.85 
(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
15

Non-GAAP Reconciliations (continued)
(Unaudited)
(Dollars in Thousands, Except Share Data)
Three Months Ended
Adjusted pre-tax pre-provision net revenueMar 2026Dec 2025Sep 2025Jun 2025Mar 2025
Income (loss) before income taxes$74,152 $69,819 $29,602 $(9,735)$48,832 
Plus provisions for credit losses3,024 1,232 34,417 5,337 2,292 
Pre-tax pre-provision net revenue77,176 71,051 64,019 (4,398)51,124 
Less gain (loss) from securities, net1 64 12 (60,549)16 
Less (loss) gain on sales or write-downs of
    premises and equipment, other real estate
    owned and other assets, net		(320)(131)(646)236 (625)
Less cash life insurance benefit763 1,148 — — — 
Plus early retirement and severance costs— 1,395 — — — 
Plus loss on lease terminations and other branch
   closure costs		5 12 270 — — 
Plus certain nonrecurring charitable contributions— 1,130 — — — 
Plus merger and integration costs1,447 4,611 16,057 2,734 401 
Adjusted pre-tax pre-provision net revenue$78,184 $77,118 $80,980 $58,649 $52,134 
 
Three Months Ended
Adjusted tangible net incomeMar 2026Dec 2025Sep 2025Jun 2025Mar 2025
Income (loss) before income taxes$74,152 $69,819 $29,602 $(9,735)$48,832 
Plus amortization of core deposit and other
   intangibles		1,869 1,932 2,079 631 656 
Less gain (loss) from securities, net1 64 12 (60,549)16 
Less (loss) gain on sales or write-downs of
     premises and equipment, other real estate
     owned and other assets, net		(320)(131)(646)236 (625)
Less cash life insurance benefit763 1,148 — — — 
Plus initial provision for credit losses on acquired
    loans and unfunded commitments		— — 28,366 — — 
Plus early retirement and severance costs— 1,395 — — — 
Plus loss on lease terminations and other branch
   closure costs		5 12 270 — — 
Plus certain nonrecurring charitable contributions— 1,130 — — — 
Plus merger and integration costs1,447 4,611 16,057 2,734 401 
Less income tax expense, adjusted for items
    above(a)
17,376 14,895 17,864 3,942 9,905 
Plus income tax benefit(b)
— — — (8,713)— 
Adjusted tangible net income$59,653 $62,923 $59,144 $41,288 $40,593 
(a) Adjusted items calculated using the combined federal and blended state statutory income tax rate of 26.06% for all periods, excluding nondeductible items for merger and integration costs.
(b) Represents a non-recurring tax benefit recorded during the three months ended June 30, 2025 due to the expiration of the statute of limitations with respect to an amended income tax return.
FB Financial Corporation
16

Non-GAAP Reconciliations (continued)
(Unaudited)
(Dollars in Thousands)
 Three Months Ended
Adjusted efficiency ratio (tax-
    equivalent basis)		Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025
Total noninterest expense$95,164 $107,548 $109,856 $81,261 $79,549 
Less early retirement and severance costs— 1,395 — — — 
Less loss on lease terminations and other branch
    closure costs		5 12 270 — — 
Less certain nonrecurring charitable contributions— 1,130 — — — 
Less merger and integration costs1,447 4,611 16,057 2,734 401 
Adjusted noninterest expense$93,712 $100,400 $93,529 $78,527 $79,148 
Net interest income$145,965 $149,804 $147,240 $111,415 $107,641 
Net interest income (tax-equivalent basis)146,774 150,642 148,088 112,236 108,427 
Total noninterest income (loss)26,375 28,795 26,635 (34,552)23,032 
Less gain (loss) from securities, net1 64 12 (60,549)16 
Less (loss) gain on sales or write-downs of
   premises and equipment, other real estate owned
    and other assets, net		(320)(131)(646)236 (625)
Less cash life insurance benefit763 1,148 — — — 
Adjusted noninterest income25,931 27,714 27,269 25,761 23,641 
Total revenue$172,340 $178,599 $173,875 $76,863 $130,673 
Adjusted revenue (tax-equivalent basis)$172,705 $178,356 $175,357 $137,997 $132,068 
Efficiency ratio55.2%60.2%63.2%105.7%60.9%
Adjusted efficiency ratio (tax-equivalent basis)54.3%56.3%53.3%56.9%59.9%
FB Financial Corporation
17

Non-GAAP Reconciliations (continued)
(Unaudited)
(Dollars in Thousands)
 Three Months Ended
Banking segment adjusted efficiency ratio (tax-
    equivalent)		Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025
Banking segment noninterest expense$81,576 $93,556 $96,969 $67,330 $66,909 
Less early retirement and severance costs— 1,395 — — — 
Less loss on lease terminations and other branch
    closure costs		5 12 270 — — 
Less certain nonrecurring charitable contributions— 1,130 — — — 
Less merger and integration costs1,447 4,611 16,057 2,734 401 
Banking segment adjusted noninterest expense$80,124 $86,408 $80,642 $64,596 $66,508 
Banking segment net interest income $143,122 $146,565 $144,859 $108,909 $105,759 
Banking segment net interest income (tax-equivalent
    basis)		143,931 147,403 145,707 109,730 106,545 
Banking segment noninterest income (loss)13,962 15,207 13,078 (47,720)10,660 
Less gain (loss) from securities, net1 64 12 (60,549)16 
Less cash life insurance benefit763 1,148 — — — 
Less loss on sales or write-downs of
    premises and equipment, other real estate owned
    and other assets, net		(409)(131)(646)203 (497)
Banking segment adjusted noninterest income13,607 14,126 13,712 12,626 11,141 
Banking segment total revenue$157,084 $161,772 $157,937 $61,189 $116,419 
Banking segment total adjusted revenue (tax-
     equivalent basis)		$157,538 $161,529 $159,419 $122,356 $117,686 
Banking segment efficiency ratio 51.9%57.8%61.4%110.0%57.5%
Banking segment adjusted efficiency ratio (tax-
     equivalent basis)		50.9%53.5%50.6%52.8%56.5%
FB Financial Corporation
18

Non-GAAP Reconciliations (continued)
Unaudited
(Dollars in Thousands)
Three Months Ended
Mortgage segment adjusted efficiency ratio (tax-
      equivalent)		Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025
Mortgage segment noninterest expense$13,588 $13,992 $12,887 $13,931 $12,640 
Mortgage segment adjusted noninterest expense$13,588 $13,992 $12,887 $13,931 $12,640 
Mortgage segment net interest income$2,843 $3,239 $2,381 $2,506 $1,882 
Mortgage segment noninterest income12,413 13,588 13,557 13,168 12,372 
Less gain (loss) on sales or write-downs of
    premises and equipment, other real estate owned
    and other assets, net		89 — — 33 (128)
Mortgage segment adjusted noninterest income12,324 13,588 13,557 13,135 12,500 
Mortgage segment total revenue$15,256 $16,827 $15,938 $15,674 $14,254 
Mortgage segment adjusted total revenue$15,167 $16,827 $15,938 $15,641 $14,382 
Mortgage segment efficiency ratio 89.1%83.2%80.9%88.9%88.7%
Mortgage segment adjusted efficiency ratio (tax-
     equivalent basis)		89.6%83.2%80.9%89.1%87.9%
FB Financial Corporation
19

Non-GAAP Reconciliations (continued)
(Unaudited)
(Dollars in Thousands, Except Share Data)
As of
Tangible assets, common equity and related
     measures		Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025
Tangible assets
Total assets$16,468,439 $16,300,292 $16,236,459 $13,354,238 $13,136,449 
Less goodwill350,353 350,353 350,353 242,561 242,561 
Less intangibles, net29,415 31,284 33,216 4,475 5,106 
Tangible assets$16,088,671 $15,918,655 $15,852,890 $13,107,202 $12,888,782 
Tangible common equity
Total common shareholders’ equity$1,973,873 $1,948,165 $1,978,043 $1,611,130 $1,601,962 
Less goodwill350,353 350,353 350,353 242,561 242,561 
Less intangibles, net29,415 31,284 33,216 4,475 5,106 
Tangible common equity$1,594,105 $1,566,528 $1,594,474 $1,364,094 $1,354,295 
Common shares outstanding51,418,024 51,752,401 53,456,522 45,807,689 46,514,547 
Book value per common share$38.39 $37.64 $37.00 $35.17 $34.44 
Tangible book value per common share$31.00 $30.27 $29.83 $29.78 $29.12 
Total common shareholders’ equity to total assets12.0%12.0%12.2%12.1%12.2%
Tangible common equity to tangible assets9.91%9.84%10.1%10.4%10.5%
On-balance sheet liquidity:
Cash and cash equivalents$1,157,763 $1,155,895 $1,280,033 $1,165,729 $794,706 
Unpledged securities637,182 649,000 608,716 547,354 703,117 
Equity securities, at fair value— 155 1,450 — — 
Total on-balance sheet liquidity$1,794,945 $1,805,050 $1,890,199 $1,713,083 $1,497,823 
On-balance sheet liquidity as a percentage of total
     assets		10.9%11.1%11.6%12.8%11.4%
On-balance sheet liquidity as a percentage of total
      tangible assets		11.2%11.3%11.9%13.1%11.6%
FB Financial Corporation
20

Non-GAAP Reconciliations (continued)
(Unaudited)
(Dollars in Thousands)
 Three Months Ended
Adjusted return on average tangible common
     equity and related measures		Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025
Average common shareholders’ equity$1,965,877$1,956,633$1,977,785$1,583,099$1,583,958
Less average goodwill350,353350,353350,355242,561242,561
Less average intangibles, net30,39432,30134,9834,7915,426
Average tangible common equity$1,585,130$1,573,979$1,592,447$1,335,747$1,335,971
Net income$57,526$56,977$23,375$2,909$39,361
Return on average common equity11.9%11.6%4.69%0.74%10.1%
Return on average tangible common equity14.7%14.4%5.82%0.87%11.9%
Adjusted tangible net income$59,653$62,923$59,144$41,288$40,593
Adjusted return on average tangible common equity15.3%15.9%14.7%12.4%12.3%

Three Months Ended
Adjusted return on average assets, common equity and related measuresMar 2026Dec 2025Sep 2025Jun 2025Mar 2025
Net income $57,526$56,977$23,375$2,909$39,361
Average assets16,258,27216,151,19516,007,78813,032,49013,206,969
Average common equity1,965,8771,956,6331,977,7851,583,0991,583,958
Return on average assets1.43%1.40%0.58%0.09%1.21%
Return on average common equity11.9%11.6%4.69%0.74%10.1%
Adjusted net income$58,271$61,494$57,606$40,821$40,108
Adjusted return on average assets1.45%1.51%1.43%1.26%1.23%
Adjusted return on average common equity12.0%12.5%11.6%10.3%10.3%
Adjusted pre-tax pre-provision net income$78,184$77,118$80,980$58,649$52,134
Adjusted pre-tax pre-provision return on average
     assets		1.95%1.89%2.01%1.81%1.60%
FB Financial Corporation
21