logoa07a.jpg

 
 
Third Quarter 2026
Financial Supplement



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

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


TABLE OF CONTENTS
 
Page
Financial Summary and Key Metrics
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
 14
Preliminary Capital Ratios
Segment Data
Non-GAAP Reconciliations



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


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

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




FB Financial Corporation
5

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





FB Financial Corporation
6

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

FB Financial Corporation
7

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


FB Financial Corporation
8

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

FB Financial Corporation
9

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

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


FB Financial Corporation
11

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

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

FB Financial Corporation
13

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



FB Financial Corporation
14

Preliminary Capital Ratios
(Unaudited)
(Dollars in Thousands)
Computation of tangible common equity to tangible assets:September 30, 2026December 31, 2025
Total common shareholders' equity$1,933,646 $1,948,165 
Less:
    Goodwill350,353 350,353 
    Other intangibles25,870 31,284 
Tangible common equity$1,557,423 $1,566,528 
Total assets$17,093,991 $16,300,292 
Less:
    Goodwill350,353 350,353 
    Other intangibles25,870 31,284 
Tangible assets$16,717,768 $15,918,655 
Preliminary total risk-weighted assets$15,027,713 $14,253,337 
Total common equity to total assets11.3 %12.0 %
Tangible common equity to tangible assets*9.32 %9.84 %
September 30, 2026December 31, 2025
Preliminary regulatory capital:
    Common equity Tier 1 capital$1,645,994 $1,625,952 
    Tier 1 capital1,645,994 1,625,952 
    Total capital2,041,803 1,888,051 
Preliminary regulatory capital ratios:
    Common equity Tier 1 11.0 %11.4 %
    Tier 1 risk-based11.0 %11.4 %
    Total risk-based 13.6 %13.2 %
    Tier 1 leverage10.0 %10.3 %
*This represents a non-GAAP financial measure; See “Use of non-GAAP Financial Measures” and non-GAAP reconciliations herein.
FB Financial Corporation
15

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

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















FB Financial Corporation
17



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

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

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

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

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

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

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

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