Form 8-K

8-K — FB Financial Corp

Accession: 0001649749-26-000033

Filed: 2026-04-13

Period: 2026-04-13

CIK: 0001649749

SIC: 6022 (STATE COMMERCIAL BANKS)

Item: Results of Operations and Financial Condition

Item: Regulation FD Disclosure

Item: Financial Statements and Exhibits

Documents

8-K — fbk-20260413.htm (Primary)

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8-K

8-K (Primary)

Filename: fbk-20260413.htm · Sequence: 1

fbk-20260413

false000164974900016497492026-04-132026-04-13

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

Date of report (Date of earliest event reported): April 13, 2026

FB FINANCIAL CORPORATION

(Exact name of registrant as specified in its charter)

Tennessee   001-37875   62-1216058

(State or other jurisdiction

of incorporation)   (Commission File Number)   (IRS Employer

Identification Number)

1221 Broadway, Suite 1300

Nashville, Tennessee 37203

(Address of principal executive offices) (Zip Code)

(615) 564-1212

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions ( see General Instruction A.2. below):

☐  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered

Common Stock, $1.00 par value FBK New York Stock Exchange

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

Emerging growth company ☐

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

Item 2.02. Results of Operations and Financial Condition.

On April 13, 2026, FB Financial Corporation (“FB Financial”) issued a press release announcing its financial results for the first quarter ended March 31, 2026 (the “Earnings Release”). A copy of the Earnings Release is furnished as Exhibit 99.1 to this current report on Form 8-K (this “Report”).

Item 7.01. Regulation FD Disclosure.

On April 14, 2026, FB Financial will host a conference call to discuss financial results for the quarter ended March 31, 2026.

On April 13, 2026, FB Financial made available on its website (investors.firstbankonline.com) supplemental financial information for the first quarter ended March 31, 2026 (the “Financial Supplement”) and an earnings release presentation (the “Earnings Presentation”) containing additional information about FB Financial’s financial results for the quarter ended March 31, 2026.

Copies of the Financial Supplement and the Earnings Presentation are furnished as Exhibit 99.2 and Exhibit 99.3, respectively, to this Report.

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

Item 9.01. Financial Statements and Exhibits.

Exhibit Number Description of Exhibit

99.1

Earnings Release issued April 13, 2026

99.2

Financial Supplement for the quarter ended March 31, 2026

99.3

Earnings Presentation dated April 14, 2026

104 Cover Page Interactive Data File (formatted as inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

FB FINANCIAL CORPORATION

By: /s/ Michael M. Mettee

Michael M. Mettee

Chief Financial Officer & Chief Operating Officer

(Principal Financial Officer)

Date: April 13, 2026

EX-99.1

EX-99.1

Filename: a1q26pressreleasetablesfor.htm · Sequence: 2

Document

FB Financial Corporation Reports First Quarter 2026 Financial Results

Reports Q1 Diluted EPS of $1.10, Adjusted Diluted EPS* of $1.12

NASHVILLE, TENNESSEE—April 13, 2026—FB Financial Corporation (the “Company”) (NYSE: FBK), parent company of FirstBank, reported net income of $57.5 million, or $1.10 per diluted common share, for the first quarter of 2026, compared to $1.07 in the previous quarter and $0.84 in the first quarter of last year. Adjusted net income* was $58.3 million, or $1.12 per diluted common share, compared to $1.16 in the previous quarter and $0.85 in the first quarter of last year.

The Company ended the first quarter of 2026 with loans held for investment (“HFI”) of $12.50 billion compared to $12.38 billion at the end of the previous quarter and $9.77 billion at the end of the first quarter of last year. Deposits were $14.08 billion as of March 31, 2026, compared to $13.91 billion as of December 31, 2025, and $11.20 billion as of March 31, 2025. Net interest margin (“NIM”) was 3.94% for the first quarter of 2026, compared to 3.98% in the prior quarter and 3.55% in the first quarter of 2025. The Company ended the quarter with book value per common share of $38.39 and tangible book value per common share* of $31.00.

President and Chief Executive Officer, Christopher T. Holmes stated, “We began the year with a recognition that speaks directly to who we are, being named the top bank for customer satisfaction and trust in the South Central Region by J.D. Power. That honor reinforces our customer-focused model and validates a cornerstone of how we measure success. We also delivered solid financial results in the quarter, with strong returns and loan and deposit growth that gained momentum in the back half of the period. When you have the highest level of endorsement from your customers about their satisfaction and you combine that with top-tier financial performance and one of the best geographies in the country, we believe we have a very compelling formula for creating value for our shareholders today and over the long term.”

Annualized

(dollars in thousands, except share data) Mar 2026 Dec 2025 Mar 2025 Mar 26/ Dec 25

% Change Mar 26 / Mar 25

% Change

Balance Sheet Highlights

Investment securities, at fair value $ 1,498,547  $ 1,459,734  $ 1,580,720  10.8  % (5.20) %

Loans held for sale 231,359  201,076  172,770  61.1  % 33.9  %

Loans HFI 12,503,815  12,383,626  9,771,536  3.94  % 28.0  %

Allowance for credit losses on loans HFI (186,324) (185,983) (150,531) 0.74  % 23.8  %

Total assets 16,468,439  16,300,292  13,136,449  4.18  % 25.4  %

Interest-bearing deposits (non-brokered) 10,838,139  10,649,932  8,623,636  7.17  % 25.7  %

Brokered deposits 574,216  625,634  414,428  (33.3) % 38.6  %

Noninterest-bearing deposits 2,664,480  2,634,395  2,163,934  4.63  % 23.1  %

Total deposits 14,076,835  13,909,961  11,201,998  4.87  % 25.7  %

Borrowings 213,188  212,764  168,944  0.81  % 26.2  %

Allowance for credit losses on unfunded

commitments 15,398  16,196  6,493  (20.0) % 137.1  %

Total common shareholders’ equity 1,973,873  1,948,165  1,601,962  5.35  % 23.2  %

Book value per common share $ 38.39  $ 37.64  $ 34.44  8.08  % 11.5  %

Tangible book value per common share* $ 31.00  $ 30.27  $ 29.12  9.78  % 6.46  %

Total common shareholders’ equity to total assets 12.0  % 12.0  % 12.2  %

Tangible common equity to tangible assets* 9.91  % 9.84  % 10.5  %

*Non-GAAP financial measure; A reconciliation of non-GAAP measures to the most directly comparable GAAP measure is included in the Company’s First Quarter 2026 Financial Supplement.

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FB Financial Corporation

First Quarter 2026 Results

Page 2

Three Months Ended

(dollars in thousands, except share data) Mar 2026 Dec 2025 Mar 2025

Statement of Income Highlights

Net interest income $ 145,965  $ 149,804  $ 107,641

NIM (tax-equivalent basis) 3.94  % 3.98  % 3.55  %

Noninterest income $ 26,375  $ 28,795  $ 23,032

Loss on sales or write-downs of premises and equipment, other real estate

owned and other assets, net $ (320) $ (131) $ (625)

Cash life insurance benefit $ 763  $ 1,148  $ —

Total revenue $ 172,340  $ 178,599  $ 130,673

Noninterest expense $ 95,164  $ 107,548  $ 79,549

Severance costs $ —  $ 1,395  $ —

Loss on lease terminations and other branch closure costs $ 5  $ 12  $ —

Certain nonrecurring charitable contributions $ —  $ 1,130  $ —

Merger and integration costs $ 1,447  $ 4,611  $ 401

Efficiency ratio 55.2  % 60.2  % 60.9  %

Adjusted efficiency ratio* 54.3  % 56.3  % 59.9  %

Pre-tax, pre-provision net revenue $ 77,176  $ 71,051  $ 51,124

Adjusted pre-tax, pre-provision net revenue* $ 78,184  $ 77,118  $ 52,134

Provisions for credit losses $ 3,024  $ 1,232  $ 2,292

Net charge-offs ratio 0.11  % 0.05  % 0.14  %

Net income applicable to FB Financial Corporation $ 57,526  $ 56,977  $ 39,361

Diluted earnings per common share $ 1.10  $ 1.07  $ 0.84

Effective tax rate 22.4  % 18.4  % 19.4  %

Adjusted net income* $ 58,271  $ 61,494  $ 40,108

Adjusted diluted earnings per common share* $ 1.12  $ 1.16  $ 0.85

Weighted average number of shares outstanding - fully diluted 52,203,469  53,074,753  47,024,211

Returns on average:

Return on average total assets (“ROAA”)

1.43  % 1.40  % 1.21  %

Adjusted* 1.45  % 1.51  % 1.23  %

Return on average shareholders’ equity 11.9  % 11.6  % 10.1  %

Return on average tangible common equity (“ROATCE”)*

14.7  % 14.4  % 11.9  %

Adjusted* 15.3  % 15.9  % 12.3  %

*Non-GAAP financial measure; A reconciliation of non-GAAP measures to the most directly comparable GAAP measure is included in the Company’s First Quarter 2026 Financial Supplement.

Balance Sheet and Net Interest Margin

The Company reported loans HFI of $12.50 billion at the end of the first quarter of 2026, compared to $12.38 billion at the end of the prior quarter. The contractual yield on loans HFI decreased to 6.22% for the first quarter of 2026 from 6.34% for the previous quarter. Net growth in loans was attributable to increases of $57.3 million in commercial and industrial loans, $32.7 million in consumer and other loans, $25.1 million in commercial real estate loans and $16.5 million in residential real estate loans offset by a $11.4 million decline in construction loans.

The Company reported total deposits of $14.08 billion at the end of the first quarter compared to $13.91 billion at the end of the fourth quarter of 2025. Total cost of deposits decreased to 2.27% during the first quarter compared to 2.40% in the fourth quarter of 2025. The cost of interest-bearing deposits decreased to 2.80% from 2.99% in the previous quarter. Lower costs were driven primarily by the continued pass‑through of prior federal funds rate reductions, reducing indexed deposit costs and lowering rates across the broader interest‑bearing deposit base. Noninterest-bearing deposits were $2.66 billion at the end of the quarter compared to $2.63 billion at the end of the fourth quarter of 2025.

The Company reported net interest income on a tax-equivalent basis of $146.8 million for the first quarter of 2026, down from $150.6 million in the prior quarter. NIM decreased to 3.94% for the first quarter of 2026 from 3.98% for the previous quarter, driven primarily by lower yields on interest‑earning assets following the late fourth quarter of 2025 federal funds rate reduction, partially offset by lower funding costs. Net accretion from purchase accounting adjustments impacted margin by 17 basis points in the first quarter of 2026.

Holmes continued, “We had measured balance sheet growth in the first quarter, led by broad-based loan production and continued deposit expansion. While asset yields moderated following recent rate cuts, disciplined pricing and lower funding costs helped offset that pressure. Our deposit mix and repricing momentum position us well as we move through the year, and we remain focused on consistent, profitable growth.”

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FB Financial Corporation

First Quarter 2026 Results

Page 3

Noninterest Income

Adjusted noninterest income* was $25.9 million for the first quarter of 2026, compared to $27.7 million and $23.6 million for the prior quarter and first quarter of 2025, respectively.

Mortgage banking income was $12.3 million in the first quarter of 2026, compared to $13.5 million in the prior quarter and $12.4 million in the first quarter of 2025.

Noninterest Expense

Adjusted noninterest expense* during the first quarter of 2026 was $93.7 million compared to $100.4 million for the prior quarter and $79.1 million for the first quarter of 2025. The decrease reflects lower performance‑based compensation in the first quarter, as incentive expense was elevated in the fourth quarter due to higher levels of performance-based compensation. During the first quarter of 2026, the Company’s adjusted efficiency ratio*1was 54.3%, compared to 56.3% in the previous quarter and 59.9% in the first quarter of 2025.

Chief Financial Officer Michael Mettee commented, “We continued to build operating leverage in the first quarter as expense levels normalized and efficiency improved. Incentive and personnel costs returned to expected levels following elevated fourth quarter expense related to long‑term equity incentives. As volumes grow and we continue to focus on operating scale, we are well positioned to drive incremental profitability and stronger returns over time.”

Credit Quality

In the first quarter, the Company recorded provision expense of $3.8 million related to loans HFI and a provision reversal of $0.8 million associated with unfunded loan commitments. At the end of the first quarter of 2026, the Company had an allowance for credit losses on loans HFI of $186.3 million, representing 1.49% of loans HFI compared to $186.0 million, or 1.50% of loans HFI, at the end of the prior quarter.

The Company had net charge-offs of $3.5 million in the first quarter of 2026, representing annualized net charge-offs of 0.11% of average loans HFI, compared to 0.05% in the prior quarter and 0.14% in the first quarter of 2025.

The Company’s nonperforming loans HFI as a percentage of total loans HFI decreased slightly to 0.96% as of the end of the first quarter of 2026, compared to 0.97% in the prior quarter and 0.79% in the first quarter of 2025. Nonperforming assets as a percentage of total assets were relatively stable at 0.98% as of the end of the first quarter of 2026, compared to 0.97% at the end of the prior quarter and 0.84% as of the end of the first quarter of 2025.

Holmes commented, “Our credit quality remained sound during the quarter, supported by stable asset quality metrics. While net charge‑offs increased modestly, they remain at relatively low levels and consistent with our expectations. We ended the quarter with an allowance for credit losses that reflects the risk profile of the portfolio given the current economic outlook and our proactive approach to risk management as we continue to support growth.”

Capital

The Company maintained its strong capital position in the first quarter, resulting in a preliminary total risk-based capital ratio of 13.4%, preliminary common equity tier 1 ratio of 11.5% and tangible common equity to tangible assets ratio* of 9.91%. The Company repurchased 426,983 shares during the quarter.

Holmes continued, “We ended the quarter with a strong capital position, highlighted by tangible common equity of 9.91%, which provides us significant capital flexibility. That strength allows us to support organic growth, pursue strategic opportunities, and return capital to shareholders through share repurchases when appropriate. We are committed to deploying capital in ways that create long‑term value while maintaining a prudent risk profile.”

Summary

Holmes finalized, “The first quarter marked a solid start to the year, with a reassuring vote of confidence from our clients, disciplined balance sheet growth, improving efficiency, stable credit quality, and a solid capital position. Looking forward, we see active pipelines across our markets and remain optimistic about economic conditions in our footprint. With multiple avenues for growth and capital deployment, we are confident in our ability to continue delivering top‑tier returns for our shareholders.”

*Non-GAAP financial measure;1A reconciliation of non-GAAP measures to the most directly comparable GAAP measure is included in the Company’s First Quarter 2026 Financial Supplement.

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FB Financial Corporation

First Quarter 2026 Results

Page 4

WEBCAST AND CONFERENCE CALL INFORMATION

FB Financial Corporation will host a conference call to discuss the Company’s financial results on April 14, 2026, at 8:00 a.m. (Central Time). To listen to the call, participants should dial 1-877-883-0383 (confirmation code 8131060) approximately 10 minutes prior to the call. A telephonic replay will be available approximately two hours after the call through April 21, 2026, by dialing 1-855-669-9658 and entering confirmation code 1063916.

A live online broadcast of the Company’s quarterly conference call will be available online at https://event.choruscall.com/mediaframe/webcast.html?webcastid=4Tu7dtR8. An online replay will be available on the Company’s website approximately two hours after the conclusion of the call and will remain available for 12 months.

ABOUT FB FINANCIAL CORPORATION

FB Financial Corporation (NYSE: FBK) is a financial holding company headquartered in Nashville, Tennessee. FB Financial Corporation operates through its wholly owned banking subsidiary, FirstBank, in Tennessee, Kentucky, Alabama, and Georgia. FB Financial Corporation has approximately $16.5 billion in total assets and operates 90 full-service bank branches across its footprint.

MEDIA CONTACT:

FINANCIAL CONTACT:

Keith Hancock Michael Mettee

404-310-2368 615-435-0952

keith.hancock@firstbankonline.com mmettee@firstbankonline.com

www.firstbankonline.com

investorrelations@firstbankonline.com

SUPPLEMENTAL FINANCIAL INFORMATION AND EARNINGS PRESENTATION

Investors are encouraged to review this Earnings Release in conjunction with the First Quarter 2026 Financial Supplement and Earnings Presentation posted on the Company’s website, which can be found at https://investors.firstbankonline.com. This Earnings Release, the First Quarter 2026 Financial Supplement and the Earnings Presentation are also included with a Current Report on Form 8-K that the Company furnished to the U.S. Securities and Exchange Commission (“SEC”) on April 13, 2026.

FORWARD-LOOKING STATEMENTS

Certain statements contained in this Earnings Release that are not historical in nature may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, statements regarding the Company’s future plans, results, strategies, and expectations, including expectations around changing economic markets. These statements can generally be identified by the use of the words and phrases “may,” “will,” “should,” “could,” “would,” “goal,” “plan,” “potential,” “estimate,” “project,” “believe,” “intend,” “anticipate,” “expect,” “target,” “aim,” “predict,” “continue,” “seek,” and other variations of such words and phrases and similar expressions. These forward-looking statements are not historical facts, and are based upon management’s current expectations, estimates, and projections, many of which, by their nature, are inherently uncertain and beyond the Company’s control. The inclusion of these forward-looking statements should not be regarded as a representation by the Company or any other person that such expectations, estimates, and projections will be achieved. Accordingly, the Company cautions shareholders and investors that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions, and uncertainties that are difficult to predict. Actual results may prove to be materially different from the results expressed or implied by the forward-looking statements. A number of factors could cause actual results to differ materially from those contemplated by the forward-looking statements including, without limitation, (1) current and future economic conditions, including the effects of inflation, interest rate fluctuations, changes in the economy or global supply chain, supply-demand imbalances affecting local real estate prices, and high unemployment rates in the local or regional economies in which the Company operates and/or the US economy generally, (2) changes or the lack of changes in government interest rate policies and the associated impact on the Company’s business, net interest margin, and mortgage operations, (3) increased competition for deposits, (4) changes in the quality or composition of the Company’s loan or investment portfolios, including adverse developments in borrower industries or in the repayment ability of individual borrowers or issuers of investment securities, or the impact of interest rates on the value of our investment securities portfolio, (5) any deterioration in commercial real estate market fundamentals, (6) the Company’s ability to identify potential candidates for, consummate, and achieve synergies from acquisitions, including risks that cost savings and other synergies from completed or future mergers may not be realized (or may be less than or delayed from expectations), challenges in integrating acquired businesses, disruptions to customer, employee, or other relationships, diversion of management attention, and the ability to effectively manage larger or more complex operations post-transaction; (7) the Company’s ability to manage any unexpected outflows of uninsured deposits and avoid selling investment securities or other assets at an unfavorable time or at a loss, (8) the Company’s ability to successfully execute its various business strategies, (9) changes in state and federal legislation, regulations or policies applicable to banks and other financial service providers, including legislative developments,

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FB Financial Corporation

First Quarter 2026 Results

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(10) the effectiveness of the Company’s controls and procedures to detect, prevent, mitigate and otherwise manage the risk of fraud or misconduct by internal or external parties, including attempted physical-security and cybersecurity attacks, denial-of-service attacks, hacking, phishing, social-engineering attacks, malware intrusion, data-corruption attempts, system breaches, identity theft, ransomware attacks, environmental conditions, and intentional acts of destruction, (11) the Company’s dependence on information technology systems of third party service providers and the risk of systems failures, interruptions, or breaches of security, (12) the impact, extent and timing of technological changes, (13) concentrations of credit or deposit exposure, (14) the impact of natural disasters, pandemics, acts of war or terrorism, or other catastrophic events, (15) events giving rise to international or regional political instability, including the broader impacts of such events on financial markets and/or global macroeconomic environments, and/or (16) general competitive, economic, political, and market conditions. Further information regarding the Company and factors which could affect the forward-looking statements contained herein can be found in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, and in any of the Company’s subsequent filings with the SEC. Many of these factors are beyond the Company’s ability to control or predict. If one or more events related to these or other risks or uncertainties materialize, or if the underlying assumptions prove to be incorrect, actual results may differ materially from the forward-looking statements. Accordingly, shareholders and investors should not place undue reliance on any such forward-looking statements. Any forward-looking statement speaks only as of the date of this Earnings Release, and the Company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law. New risks and uncertainties may emerge from time to time, and it is not possible for the Company to predict their occurrence or how they will affect the Company.

The Company qualifies all forward-looking statements by these cautionary statements.

GAAP RECONCILIATION AND USE OF NON-GAAP FINANCIAL MEASURES

This Earnings Release contains certain financial measures that are not measures recognized under U.S. generally accepted accounting principles (“GAAP”) and therefore are considered non-GAAP financial measures. These non-GAAP financial measures may include, without limitation, adjusted net income, adjusted diluted earnings per common share, adjusted pre-tax pre-provision net revenue, consolidated adjusted revenue, consolidated adjusted and segment noninterest expense and consolidated adjusted noninterest income, consolidated adjusted efficiency ratio (tax-equivalent basis), and adjusted return on average assets and equity. Each of these non-GAAP metrics excludes certain income and expense items that the Company’s management considers to be adjusted in nature. The Company refers to these non-GAAP measures as adjusted measures. Also, the Company presents tangible assets, tangible common equity, tangible book value per common share, tangible common equity to tangible assets, return on average tangible common equity, and adjusted return on average tangible common equity. Each of these non-GAAP metrics excludes the impact of goodwill and other intangibles.

The Company’s management uses these non-GAAP financial measures in their analysis of the Company’s performance, financial condition and the efficiency of its operations as management believes such measures facilitate period-to-period comparisons and provide meaningful indications of its operating performance as they eliminate both gains and charges that management views as non-recurring or not indicative of operating performance. Management believes that these non-GAAP financial measures provide a greater understanding of ongoing operations and enhance comparability of results with prior periods as well as demonstrate the effects of significant non-adjusted gains and charges in the current and prior periods. The Company’s management also believes that investors find these non-GAAP financial measures useful as they assist investors in understanding the Company’s underlying operating performance and in the analysis of ongoing operating trends. In addition, because intangible assets such as goodwill and the other items excluded each vary extensively from company to company, the Company believes that the presentation of this information allows investors to more easily compare the Company’s results to the results of other companies. However, the non-GAAP financial measures discussed herein should not be considered in isolation or as a substitute for the most directly comparable or other financial measures calculated in accordance with GAAP. Moreover, the manner in which the Company calculates the non-GAAP financial measures discussed herein may differ from that of other companies reporting measures with similar names. Investors should understand how such other banking organizations calculate their financial measures with names similar to the non-GAAP financial measures the Company has discussed herein when comparing such non-GAAP financial measures.

A reconciliation of these measures to the most directly comparable GAAP financial measures is included in the Company’s First Quarter 2026 Financial Supplement, which is available at https://investors.firstbankonline.com.

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FB Financial Corporation

First Quarter 2026 Results

Page 6

Financial Summary and Key Metrics

(Unaudited)

(dollars in thousands, except share data)

As of or for the Three Months Ended

Mar 2026 Dec 2025 Mar 2025

Selected Balance Sheet Data

Cash and cash equivalents $ 1,157,763  $ 1,155,895  $ 794,706

Investment securities, at fair value 1,498,547  1,459,734  1,580,720

Loans held for sale 231,359  201,076  172,770

Loans HFI 12,503,815  12,383,626  9,771,536

Allowance for credit losses on loans HFI (186,324) (185,983) (150,531)

Total assets 16,468,439  16,300,292  13,136,449

Interest-bearing deposits (non-brokered) 10,838,139  10,649,932  8,623,636

Brokered deposits 574,216  625,634  414,428

Noninterest-bearing deposits 2,664,480  2,634,395  2,163,934

Total deposits 14,076,835  13,909,961  11,201,998

Borrowings 213,188  212,764  168,944

Allowance for credit losses on unfunded commitments 15,398  16,196  6,493

Total common shareholders’ equity 1,973,873  1,948,165  1,601,962

Selected Statement of Income Data

Total interest income $ 225,350  $ 235,238  $ 179,706

Total interest expense 79,385  85,434  72,065

Net interest income 145,965  149,804  107,641

Total noninterest income 26,375  28,795  23,032

Total noninterest expense 95,164  107,548  79,549

Earnings before income taxes and provisions for credit losses 77,176  71,051  51,124

Provisions for credit losses 3,024  1,232  2,292

Income tax expense 16,626  12,834  9,471

Net income applicable to noncontrolling interest —  8  —

Net income applicable to FB Financial Corporation $ 57,526  $ 56,977  $ 39,361

Net interest income (tax-equivalent basis) $ 146,774  $ 150,642  $ 108,427

Adjusted net income* $ 58,271  $ 61,494  $ 40,108

Adjusted pre-tax, pre-provision net revenue* $ 78,184  $ 77,118  $ 52,134

Per Common Share

Diluted net income $ 1.10  $ 1.07  $ 0.84

Adjusted diluted net income* 1.12  1.16  0.85

Book value 38.39  37.64  34.44

Tangible book value* 31.00  30.27  29.12

Weighted average number of shares outstanding - fully diluted 52,203,469  53,074,753  47,024,211

Period-end number of shares 51,418,024  51,752,401  46,514,547

Selected Ratios

Return on average:

Assets 1.43  % 1.40  % 1.21  %

Shareholders’ equity 11.9  % 11.6  % 10.1  %

Tangible common equity* 14.7  % 14.4  % 11.9  %

Efficiency ratio 55.2  % 60.2  % 60.9  %

Adjusted efficiency ratio (tax-equivalent basis)* 54.3  % 56.3  % 59.9  %

Loans HFI to deposit ratio 88.8  % 89.0  % 87.2  %

Noninterest-bearing deposits to total deposits 18.9  % 18.9  % 19.3  %

Net interest margin (tax-equivalent basis) 3.94  % 3.98  % 3.55  %

Yield on interest-earning assets 6.07  % 6.23  % 5.91  %

Cost of interest-bearing liabilities 2.83  % 3.02  % 3.16  %

Cost of total deposits 2.27  % 2.40  % 2.54  %

Credit Quality Ratios

Allowance for credit losses on loans HFI as a percentage of loans HFI 1.49  % 1.50  % 1.54  %

Annualized net charge-offs as a percentage of average loans HFI 0.11  % 0.05  % 0.14  %

Nonperforming loans HFI as a percentage of loans HFI 0.96  % 0.97  % 0.79  %

Nonperforming assets as a percentage of total assets

0.98  % 0.97  % 0.84  %

Preliminary Capital Ratios (consolidated)

Total common shareholders’ equity to assets 12.0  % 12.0  % 12.2  %

Tangible common equity to tangible assets* 9.91  % 9.84  % 10.5  %

Tier 1 leverage 10.4  % 10.3  % 11.4  %

Tier 1 risk-based capital

11.5  % 11.4  % 13.1  %

Total risk-based capital

13.4  % 13.2  % 15.2  %

Common equity Tier 1

11.5  % 11.4  % 12.8  %

*Non-GAAP financial measure; A reconciliation of non-GAAP measures to the most directly comparable GAAP measure is included in the Company’s First Quarter 2026 Financial Supplement.

-END-

EX-99.2

EX-99.2

Filename: a1q26supplementalfinancial.htm · Sequence: 3

Document

First Quarter 2026

Financial Supplement

TABLE OF CONTENTS

Page

Financial Summary and Key Metrics

4

Consolidated Statements of Income

5

Consolidated Balance Sheets

6

Average Balance and Interest Yield/Rate Analysis

7

Investments and Other Sources of Liquidity

9

Loan Portfolio

10

Asset Quality

11

Selected Deposit Data

12

Preliminary Capital Ratios

13

Segment Data

14

Non-GAAP Reconciliations

15

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 2026 Dec 2025 Sep 2025 Jun 2025 Mar 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 value 1,498,547  1,459,734  1,428,401  1,337,565  1,580,720

Loans held for sale 231,359  201,076  167,449  144,212  172,770

Loans HFI 12,503,815  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 assets 16,468,439  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 deposits 574,216  625,634  487,765  518,719  414,428

Noninterest-bearing deposits 2,664,480  2,634,395  2,690,635  2,191,903  2,163,934

Total deposits 14,076,835  13,909,961  13,812,955  11,403,470  11,201,998

Borrowings 213,188  212,764  213,638  164,485  168,944

Allowance for credit losses on unfunded commitments 15,398  16,196  17,392  12,932  6,493

Total common shareholders' equity 1,973,873  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 expense 79,385  85,434  89,658  70,669  72,065

Net interest income 145,965  149,804  147,240  111,415  107,641

Total noninterest income (loss) 26,375  28,795  26,635  (34,552) 23,032

Total noninterest expense 95,164  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 losses 3,024  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 value 38.39  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 diluted 52,203,469  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:

Assets 1.43  % 1.40  % 0.58  % 0.09  % 1.21  %

Shareholders’ equity 11.9  % 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 ratio 88.8  % 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 assets 6.07  % 6.23  % 6.35  % 5.99  % 5.91  %

Cost of interest-bearing liabilities 2.83  % 3.02  % 3.21  % 3.13  % 3.16  %

Cost of total deposits 2.27  % 2.40  % 2.53  % 2.48  % 2.54  %

Credit Quality Ratios

Allowance for credit losses on loans HFI as a percentage of loans HFI 1.49  % 1.50  % 1.50  % 1.51  % 1.54  %

Annualized net charge-offs as a percentage of average loans HFI 0.11  % 0.05  % 0.05  % 0.02  % 0.14  %

Nonperforming loans HFI as a percentage of loans HFI 0.96  % 0.97  % 0.94  % 0.97  % 0.79  %

Nonperforming assets as a percentage of total assets 0.98  % 0.97  % 0.89  % 0.92  % 0.84  %

Preliminary Capital Ratios (consolidated)

Total common shareholders’ equity to assets 12.0  % 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 leverage 10.4  % 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 2026 Mar 2026

vs. vs.

Three Months Ended Dec 2025 Mar 2025

Mar 2026 Dec 2025 Sep 2025 Jun 2025 Mar 2025 Percent 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

Taxable 13,575  14,380  14,395  14,661  14,471  (5.60) % (6.19) %

Tax-exempt 1,054  1,058  1,058  1,036  1,033  (0.38) % 2.03  %

Other 9,464  10,066  12,138  6,690  11,017  (5.98) % (14.1) %

Total interest income 225,350  235,238  236,898  182,084  179,706  (4.20) % 25.4  %

Interest expense:

Deposits 77,878  83,813  86,577  68,568  70,249  (7.08) % 10.9  %

Borrowings 1,507  1,621  3,081  2,101  1,816  (7.03) % (17.0) %

Total interest expense 79,385  85,434  89,658  70,669  72,065  (7.08) % 10.2  %

Net interest income 145,965  149,804  147,240  111,415  107,641  (2.56) % 35.6  %

Provision for (reversal of) credit losses on loans HFI 3,822  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 income 12,253  13,505  13,484  13,029  12,426  (9.27) % (1.39) %

Service charges on deposit accounts 4,376  4,184  4,049  3,392  3,479  4.59  % 25.8  %

Investment services and trust income 4,348  4,473  4,227  3,922  3,711  (2.79) % 17.2  %

ATM and interchange fees 2,977  3,146  3,388  2,878  2,677  (5.37) % 11.2  %

Gain (loss) from securities, net 1  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 income 2,740  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 revenue 172,340  178,599  173,875  76,863  130,673  (3.50) % 31.9  %

Noninterest expenses:

Salaries, commissions and employee benefits 57,348  63,529  59,210  46,631  48,351  (9.73) % 18.6  %

Occupancy and equipment expense 7,476  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  %

Advertising 2,148  2,464  2,453  2,178  2,487  (12.8) % (13.6) %

Legal and professional fees 1,980  2,503  1,227  2,426  1,992  (20.9) % (0.60) %

Amortization of core deposits and other intangibles 1,869  1,932  2,079  631  656  (3.26) % 184.9  %

Merger and integration costs 1,447  4,611  16,057  2,734  401  (68.6) % 260.8  %

Other expense 20,442  22,461  18,834  17,790  16,752  (8.99) % 22.0  %

Total noninterest expense 95,164  107,548  109,856  81,261  79,549  (11.5) % 19.6  %

Income (loss) before income taxes 74,152  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:

Basic 51,724,458  52,621,950  53,627,997  45,946,428  46,674,698  (1.71) % 10.8  %

Fully diluted 52,203,469  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 diluted 1.10  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 2026 Mar 2026

vs. vs.

As of Dec 2025 Mar 2025

Mar 2026 Dec 2025 Sep 2025 Jun 2025 Mar 2025 Percent 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 institutions 798,871  746,291  842,296  670,288  535,117  28.6  % 49.3  %

Cash and cash equivalents 1,157,763  1,155,895  1,280,033  1,165,729  794,706  0.66  % 45.7  %

Investments:

Available-for-sale debt securities, at fair value 1,498,547  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 cost 79,458  79,046  36,231  33,626  32,234  2.11  % 146.5  %

Loans held for sale 231,359  201,076  167,449  144,212  172,770  61.1  % 33.9  %

Loans held for investment 12,503,815  12,383,626  12,297,600  9,874,282  9,771,536  3.94  % 28.0  %

Less: allowance for credit losses on loans HFI 186,324  185,983  184,993  148,948  150,531  0.74  % 23.8  %

Net loans held for investment 12,317,491  12,197,643  12,112,607  9,725,334  9,621,005  3.98  % 28.0  %

Premises and equipment, net 181,268  182,370  183,595  147,243  146,272  (2.45) % 23.9  %

Other real estate owned, net 6,449  6,009  4,466  2,998  3,326  29.7  % 93.9  %

Operating lease right-of-use assets 48,223  49,249  51,035  47,764  47,381  (8.45) % 1.78  %

Interest receivable 59,837  58,565  60,755  50,386  51,268  8.81  % 16.7  %

Mortgage servicing rights, at fair value 147,344  148,795  149,840  153,464  156,379  (3.95) % (5.78) %

Goodwill 350,353  350,353  350,353  242,561  242,561  —  % 44.4  %

Core deposit and other intangibles, net 29,415  31,284  33,216  4,475  5,106  (24.2) % 476.1  %

Bank-owned life insurance 110,484  111,865  113,374  72,686  72,400  (5.01) % 52.6  %

Other assets 250,448  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 checking 2,642,713  2,651,369  2,458,625  2,325,551  2,776,958  (1.32) % (4.83) %

Money market and savings 5,886,370  5,969,640  5,968,094  4,645,552  4,482,908  (5.66) % 31.3  %

Customer time deposits 2,309,056  2,028,923  2,206,790  1,721,745  1,363,770  56.0  % 69.3  %

Brokered and internet time deposits 574,216  625,634  488,811  518,719  414,428  (33.3) % 38.6  %

Total deposits 14,076,835  13,909,961  13,812,955  11,403,470  11,201,998  4.87  % 25.7  %

Borrowings 213,188  212,764  213,638  164,485  168,944  0.81  % 26.2  %

Operating lease liabilities 59,106  60,556  62,664  59,289  59,174  (9.71) % (0.11) %

Accrued expenses and other liabilities 145,344  168,753  169,066  115,771  104,278  (56.3) % 39.4  %

Total liabilities 14,494,473  14,352,034  14,258,323  11,743,015  11,534,394  4.02  % 25.7  %

Shareholders’ equity:

Common stock, $1 par value 51,418  51,752  53,457  45,808  46,515  (2.62) % 10.5  %

Additional paid-in capital 1,064,619  1,082,344  1,163,164  822,548  854,715  (6.64) % 24.6  %

Retained earnings 893,095  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’ equity 1,973,873  1,948,165  1,978,043  1,611,130  1,601,962  5.35  % 23.2  %

Noncontrolling interest 93  93  93  93  93  —  % —  %

Total equity 1,973,966  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, 2026 December 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 sale 171,452  2,550  6.03  % 169,422  3,059  7.16  %

Investment securities:

Taxable 1,378,627  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 agreements 207,809  2,021  3.94  % 238,393  2,426  4.04  %

Interest-bearing deposits with other financial institutions 698,672  6,337  3.68  % 693,612  6,800  3.89  %

Restricted equity securities, at cost 79,257  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 banks 147,305  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 assets 1,138,519  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 market 5,471,973  39,871  2.96  % 5,609,158  46,018  3.25  %

Savings deposits 447,380  656  0.59  % 417,110  419  0.40  %

Customer time deposits 2,116,914  19,000  3.64  % 2,088,577  19,561  3.72  %

Brokered and internet time deposits 604,764  6,003  4.03  % 608,136  6,277  4.10  %

Time deposits 2,721,678  25,003  3.73  % 2,696,713  25,838  3.80  %

Total interest-bearing deposits 11,269,361  77,878  2.80  % 11,102,660  83,813  2.99  %

Other interest-bearing liabilities:

Securities sold under agreements to repurchase and federal funds purchased 12,554  16  0.52  % 12,473  31  0.99  %

Federal Home Loan Bank advances —  —  —  % —  —  —  %

Subordinated debt 83,798  1,486  7.19  % 83,458  1,491  7.09  %

Other borrowings 1,118  5  1.81  % 9,296  99  4.23  %

Total other interest-bearing liabilities 97,470  1,507  6.27  % 105,227  1,621  6.11  %

Total interest-bearing liabilities 11,366,831  79,385  2.83  % 11,207,887  85,434  3.02  %

Noninterest-bearing liabilities:

Demand deposits 2,652,462  2,733,207

Other liabilities(d)

273,009  253,375

Total noninterest-bearing liabilities 2,925,471  2,986,582

Total liabilities 14,292,302  14,194,469

Total common shareholders’ equity 1,965,877  1,956,633

Noncontrolling interest 93  93

Total equity 1,965,970  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, 2025 June 30, 2025 March 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 sale 162,205  2,359  5.77  % 126,072  2,189  6.96  % 93,944  1,433  6.19  %

Investment securities:

Taxable 1,304,894  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   agreements 331,029  3,966  4.75  % 113,252  1,256  4.45  % 123,390  1,374  4.52  %

Interest-bearing deposits with other financial institutions 671,634  7,340  4.34  % 426,073  4,733  4.46  % 811,216  8,902  4.45  %

Restricted equity securities, at cost 36,907  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 banks 139,226  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 assets 1,142,195  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 market 5,561,538  49,019  3.50  % 4,115,987  34,957  3.41  % 4,083,754  34,360  3.41  %

Savings deposits 406,787  248  0.24  % 352,307  98  0.11  % 353,865  66  0.08  %

Customer time deposits 1,997,905  18,965  3.77  % 1,404,368  12,454  3.56  % 1,373,045  12,702  3.75  %

Brokered and internet time deposits 560,127  5,962  4.22  % 481,686  5,189  4.32  % 443,923  4,854  4.43  %

Time deposits 2,558,032 24,927 3.87  % 1,886,054  17,643  3.75  % 1,816,968  17,556  3.92  %

Total interest-bearing deposits 10,857,946 86,577 3.16  % 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 purchased 13,144  31  0.94  % 11,107  26  0.94  % 11,046  6  0.22  %

Federal Home Loan Bank advances 15,217  172  4.48  % 23,077  258  4.48  % —  —  —  %

Subordinated debt 180,805  2,872  6.30  % 130,851  1,813  5.56  % 130,755  1,804  5.60  %

Other borrowings 1,168  6  2.04  % 2,294  4  0.70  % 1,220  6  1.99  %

Total other interest-bearing liabilities 210,334  3,081  5.81  % 167,329  2,101  5.04  % 143,021  1,816  5.15  %

Total interest-bearing liabilities 11,068,280  89,658  3.21  % 9,042,916  70,669  3.13  % 9,237,819  72,065  3.16  %

Noninterest-bearing liabilities:

Demand deposits 2,724,898  2,206,305  2,134,924

Other liabilities(d)

236,732  200,077  250,175

Total noninterest-bearing liabilities 2,961,630  2,406,382  2,385,099

Total liabilities 14,029,910  11,449,298  11,622,918

Total common shareholders’ equity 1,977,785  1,583,099  1,583,958

Noncontrolling interest 93  93  93

Total equity 1,977,878  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 deposits 2.53  % 2.48  % 2.54  %

Average interest-earning assets to average interest-bearing liabilities 134.3  % 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 income 1,575  0.05  % 1,945  0.08  % 1,797  0.08  %

Accretion (amortization) on purchased loans 7,025  0.23  % (62) —  % 2  —  %

Nonaccrual interest 503  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 2026 Dec 2025 Sep 2025 Jun 2025 Mar 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 - residential 599,180  40  % 602,320  41  % 587,587  41  % 541,343  40  % 816,556  52  %

Mortgage-backed securities - commercial 10,632  1  % 10,678  1  % 10,681  1  % 8,752  1  % 14,828  1  %

Municipal securities 166,033  11  % 168,370  12  % 165,411  12  % 144,228  11  % 145,396  9  %

Treasury securities 7,092  —  % 7,125  —  % 7,080  —  % —  —  % —  —  %

Corporate securities 1,700  —  % 998  —  % 2,995  —  % 978  —  % 998  —  %

Total available-for-sale debt securities 1,498,547  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 assets 9.10  %   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 $ 1,157,763 65  % $ 1,155,895 64  % $ 1,280,033 68  % $ 1,165,729 68  % $ 794,706 53  %

Unpledged available-for-sale debt securities 637,182 35  % 649,000 36  % 608,716 32  % 547,354 32  % 703,117 47  %

Equity securities, at fair value — —  % 155 —  % 1,450  —  % —  —  % — —  %

Total on-balance sheet liquidity $ 1,794,945 100  % $ 1,805,050 100  % $ 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 capacity 2,213,251 26  % 2,214,796 26  % 1,551,283 20  % 1,481,376 21  % 1,476,688 21  %

Federal Reserve discount window 2,319,521 27  % 2,268,599 27  % 2,196,785 28  % 2,119,018 31  % 2,134,448 31  %

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 Total Sep 2025 % of Total Jun 2025 % of Total Mar 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  %

Construction 1,177,082  9  % 1,188,494  10  % 1,195,392  10  % 1,022,678  10  % 1,022,299  10  %

Residential real estate:

1-to-4 family mortgage 1,856,308  15  % 1,838,122  15  % 1,852,626  15  % 1,660,696  17  % 1,632,574  17  %

Residential line of credit 768,190  6  % 741,309  6  % 707,303  6  % 641,433  7  % 613,868  6  %

Multi-family mortgage 716,795  6  % 745,360  6  % 736,424  6  % 587,254  6  % 648,326  7  %

Commercial real estate:

Owner-occupied 2,204,731  18  % 2,148,870  17  % 2,124,920  17  % 1,370,123  14  % 1,356,007  14  %

Non-owner occupied 2,869,759  23  % 2,900,499  23  % 2,890,233  24  % 2,198,689  22  % 2,153,825  22  %

Consumer and other 671,722  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  %

Community 3,055,745  25  % 2,893,961  23  % 2,876,244  23  % 1,380,561  14  % 1,367,412  14  %

Specialty lending and other 3,805,770  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  %

Construction 730,199  23  % 704,781  22  % 731,742  23  % 535,669  19  % 540,992  19  %

Residential real estate:

1-to-4 family mortgage 14,427  —  % 16,942  1  % 5,581  —  % 3,545  —  % 5,094  —  %

Residential line of credit 837,761  26  % 828,042  26  % 808,961  25  % 745,570  26  % 743,413  27  %

Multi-family mortgage 8,145  — % 6,698  — % 6,665  — % 4,260  — % 9,586  — %

Commercial real estate:

Owner-occupied 97,430  3  % 92,265  3  % 96,287  3  % 86,135  3  % 68,566  3  %

Non-owner occupied 59,417  2  % 65,037  2  % 68,293  2  % 67,974  2  % 63,948  2  %

Consumer and other 23,763  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 2026 Dec 2025 Sep 2025 Jun 2025 Mar 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)

Recoveries 552  380  279  973  576

Impact of change in accounting estimate for current expected credit losses —  —  —  (6,848) —

Provision for credit losses on loans HFI 3,822  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 HFI 1.49  % 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 industrial 101  159  12  173  42

Construction 25  —  —  —  —

Residential real estate:

1-to-4 family mortgage 8  13  6  11  9

Residential line of credit —  —  11  1  —

Commercial real estate:

Owner occupied 13  8  4  9  21

Non-owner occupied —  —  —  528  1

Consumer and other 405  200  246  251  503

Total recoveries 552  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 HFI 0.11  % 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 loans 92,289  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 owned 6,449  6,009  4,466  2,998  3,326

Other repossessed assets 3,518  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 HFI 0.96  % 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 HFI 0.74  % 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 2026 Dec 2025 Sep 2025 Jun 2025 Mar 2025

Deposits by market(a)

Metropolitan $ 6,304,307 45  % $ 6,020,095 43  % $ 5,766,856 42  % $ 5,359,974 47  % $ 5,390,434 48  %

Community 6,741,452 48  % 6,926,897 50  % 6,822,736 49  % 4,713,637 42  % 4,819,665 43  %

Brokered/wholesale 574,216 4  % 625,634 5  % 487,765 4  % 518,719 4  % 414,428 4  %

Escrow and other(b)

456,860 3  % 337,335 2  % 735,598 5  % 811,140 7  % 577,471 5  %

Total $ 14,076,835 100  % $ 13,909,961 100  % $ 13,812,955 100  % $ 11,403,470 100  % $ 11,201,998 100  %

Deposits by customer

segment

Consumer $ 6,060,115 43  % $ 6,063,015 44  % $ 5,966,458 43  % $ 4,772,582 42  % $ 4,868,544 43  %

Commercial 6,155,874 44  % 6,162,221 44  % 6,045,418 44  % 4,835,968 42  % 4,695,923 42  %

Public 1,860,846 13  % 1,684,725 12  % 1,801,079 13  % 1,794,920 16  % 1,637,531 15  %

Total $ 14,076,835 100  % $ 13,909,961 100  % $ 13,812,955 100  % $ 11,403,470 100  % $ 11,201,998 100  %

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, 2026 December 31, 2025

Total Common Shareholders' Equity $ 1,973,873  $ 1,948,165

Less:

Goodwill 350,353  350,353

Other intangibles 29,415  31,284

Tangible Common Equity $ 1,594,105  $ 1,566,528

Total Assets $ 16,468,439  $ 16,300,292

Less:

Goodwill 350,353  350,353

Other intangibles 29,415  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 Assets 12.0  % 12.0  %

Tangible Common Equity to Tangible Assets* 9.91  % 9.84  %

March 31, 2026 December 31, 2025

Preliminary Regulatory Capital:

Common Equity Tier 1 Capital $ 1,656,459  $ 1,625,952

Tier 1 Capital 1,656,459  1,625,952

Total Capital 1,920,244  1,888,051

Preliminary Regulatory Capital Ratios:

Common Equity Tier 1 11.5  % 11.4  %

Tier 1 Risk-Based 11.5  % 11.4  %

Total Risk-Based 13.4  % 13.2  %

Tier 1 Leverage 10.4  % 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 2026 Dec 2025 Sep 2025 Jun 2025 Mar 2025

Banking segment

Interest income $ 223,418  $ 233,202  $ 236,073  $ 180,960  $ 178,915

Interest expense 80,296  86,637  91,214  72,051  73,156

Net interest income $ 143,122  $ 146,565  $ 144,859  $ 108,909  $ 105,759

Provisions for credit losses 1,987  796  34,070  582  2,189

Noninterest income (loss) 13,962  15,207  13,078  (47,720) 10,660

Salaries, commissions and employee benefits 49,364  55,928  51,441  38,635  41,469

Merger and integration costs 1,447  4,611  16,057  2,734  401

Other noninterest expense 30,765  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 ratio 51.9  % 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 losses 1,037  436  347  4,755  103

Mortgage banking income 12,253  13,505  13,484  13,029  12,426

Other noninterest income (loss) 160  83  73  139  (54)

Salaries, commissions and employee benefits 7,984  7,601  7,769  7,996  6,882

Other noninterest expense 5,604  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 ratio 89.1  % 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 other 1,008  (57) 801  (876) 2,816

Mortgage servicing income 6,580  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 income Mar 2026 Dec 2025 Sep 2025 Jun 2025 Mar 2025

Income (loss) before income taxes $ 74,152  $ 69,819  $ 29,602  $ (9,735) $ 48,832

Less gain (loss) from securities, net 1  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 benefit 763  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 costs 1,447  4,611  16,057  2,734  401

Adjusted pre-tax net income 75,160  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 revenue Mar 2026 Dec 2025 Sep 2025 Jun 2025 Mar 2025

Income (loss) before income taxes $ 74,152  $ 69,819  $ 29,602  $ (9,735) $ 48,832

Plus provisions for credit losses 3,024  1,232  34,417  5,337  2,292

Pre-tax pre-provision net revenue 77,176  71,051  64,019  (4,398) 51,124

Less gain (loss) from securities, net 1  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 benefit 763  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 costs 1,447  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 income Mar 2026 Dec 2025 Sep 2025 Jun 2025 Mar 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, net 1  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 benefit 763  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 costs 1,447  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 2026 Dec 2025 Sep 2025 Jun 2025 Mar 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 costs 1,447  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, net 1  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 benefit 763  1,148  —  —  —

Adjusted noninterest income 25,931  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 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 %

FB Financial Corporation

17

Non-GAAP Reconciliations (continued)

(Unaudited)

(Dollars in Thousands)

Three Months Ended

Banking segment adjusted efficiency ratio (tax-

equivalent) Mar 2026 Dec 2025 Sep 2025 Jun 2025 Mar 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 costs 1,447  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, net 1  64  12  (60,549) 16

Less cash life insurance benefit 763  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 income 13,607  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 2026 Dec 2025 Sep 2025 Jun 2025 Mar 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 income 12,413  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 income 12,324  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 2026 Dec 2025 Sep 2025 Jun 2025 Mar 2025

Tangible assets

Total assets $ 16,468,439  $ 16,300,292  $ 16,236,459  $ 13,354,238  $ 13,136,449

Less goodwill 350,353  350,353  350,353  242,561  242,561

Less intangibles, net 29,415  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 goodwill 350,353  350,353  350,353  242,561  242,561

Less intangibles, net 29,415  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 outstanding 51,418,024  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 assets 12.0 % 12.0 % 12.2 % 12.1 % 12.2 %

Tangible common equity to tangible assets 9.91 % 9.84 % 10.1 % 10.4 % 10.5 %

On-balance sheet liquidity:

Cash and cash equivalents $ 1,157,763  $ 1,155,895  $ 1,280,033  $ 1,165,729  $ 794,706

Unpledged securities 637,182  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 2026 Dec 2025 Sep 2025 Jun 2025 Mar 2025

Average common shareholders’ equity $ 1,965,877 $ 1,956,633 $ 1,977,785 $ 1,583,099 $ 1,583,958

Less average goodwill 350,353 350,353 350,355 242,561 242,561

Less average intangibles, net 30,394 32,301 34,983 4,791 5,426

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 equity 11.9 % 11.6 % 4.69 % 0.74 % 10.1 %

Return on average tangible common equity 14.7 % 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 equity 15.3 % 15.9 % 14.7 % 12.4 % 12.3 %

Three Months Ended

Adjusted return on average assets, common equity and related measures Mar 2026 Dec 2025 Sep 2025 Jun 2025 Mar 2025

Net income $ 57,526 $ 56,977 $ 23,375 $ 2,909 $ 39,361

Average assets 16,258,272 16,151,195 16,007,788 13,032,490 13,206,969

Average common equity 1,965,877 1,956,633 1,977,785 1,583,099 1,583,958

Return on average assets 1.43 % 1.40 % 0.58 % 0.09 % 1.21 %

Return on average common equity 11.9 % 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 assets 1.45 % 1.51 % 1.43 % 1.26 % 1.23 %

Adjusted return on average common equity 12.0 % 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

EX-99.3

EX-99.3

Filename: a1q26fbkearningspresenta.htm · Sequence: 4

a1q26fbkearningspresenta

April 14, 2026 2026 First Quarter Earnings Presentation

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

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

3 FirstBank receives JD Power award FirstBank ranked #1 for Retail Banking Customer Satisfaction in the South Central Region This award highlights FirstBank’s core values by ranking the Company as #1 in …. Trust People About the award: • JD Power 2026 Retail Banking Satisfaction StudySM • Feedback received from +100,000 retail banking customers across the U.S. • Measures satisfaction across multiple core dimensions of the banking experience • For JD Power 2026 award information, visit jdpower.com/awards “For our customers’ feedback to result in us ranking #1 is a significant honor. It demonstrates that our approach of pairing the latest in financial products and capabilities with a century of hometown heart truly sets the FirstBank experience apart.” Christopher Holmes, President and CEO

4 1Q 2026 Results 1 Non-GAAP financial measure; See “Use of non-GAAP Financial Measures” and Non-GAAP reconciliations herein. Key highlights Earnings • Net income of $57.5 million or $58.3 million (adjusted)1 • Softer revenue on the shorter quarter & full impact of prior quarter rate cuts • Lower expenses drive increased operating leverage • Pre-tax pre-provision net revenue up ~8.5% or ~1.4% (adjusted)1 • Returns remain strong  ROATCE1 14.7% or 15.3% (adjusted)1 Balance Sheet • Loans HFI balances up ~4% annualized • Deposit balances up ~5% annualized • Momentum building with pipeline growth back half of 1Q Credit • ACL coverage ratio of 1.49% • Annualized net charge-offs of 0.11% Capital • Opportunistic share repurchase activity driven by late-quarter market volatility • Capital position remains strong – • Tangible Common Equity to Tangible Assets1 of 9.91% • CET 1 Ratio 11.5% and Total Risk-Based Capital 13.4% (preliminary) Reported Adjusted1 Diluted earnings per common share $ 1.10 $ 1.12 Pre-Tax Pre-Provision Net Revenue ($mm) $ 77.2 $ 78.2 Net interest margin (tax-equivalent basis) 3.94% 3.94% Efficiency Ratio 55.2% 54.3% Return on average assets 1.43% 1.45% Return on average tangible common equity1 14.7% 15.3%

5 1Q 2026 Earnings Quarter ended $ Change from $ in thousands, except per share data 1Q26 4Q25 1Q25 4Q25 1Q25 Total Revenue 172,340 178,599 130,673 (6,259) 41,667 Provision for credit losses 3,024 1,232 2,292 1,792 732 Noninterest Expense 95,164 107,548 79,549 (12,384) 15,615 Pre-tax income 74,152 69,819 48,832 4,333 25,320 Income tax expense 16,626 12,834 9,471 3,792 7,155 Noncontrolling Interest - 8 - (8) - Net income 57,526 56,977 39,361 549 18,165 Total non-gaap adjustments1 745 4,517 747 (3,772) (2) Adjusted net income2 58,271 61,494 40,108 (3,223) 18,163 Diluted earnings per share $ 1.10 $ 1.07 $ 0.84 $ 0.03 $ 0.26 Adjusted diluted earnings per share2 $ 1.12 $ 1.16 $ 0.85 ($ 0.04) $ 0.27 Non-GAAP Reconciliation $ in thousands 1Q26 Income before income taxes 74,152 Plus merger and integration costs 1,447 Less cash life insurance benefit 763 Less loss on sales or write-downs of premises and equipment, other real estate owned and other assets, net (320) Plus other items, net 4 Less income tax expense, adj for items above 16,889 Adjusted Net Income2 58,271 Net Income 57,526 Total non-gaap adjustments1 745 1 Non-GAAP financial measure; Represents the aggregate total of items that comprise the difference between Net Income and Adjusted Net Income. See “Use of non-GAAP Financial Measures” and Non-GAAP reconciliations herein. 2 Non-GAAP financial measure; See “Use of non-GAAP Financial Measures” and Non-GAAP reconciliations herein. • Pre-tax income up ~6% in 1Q 26 • Fewer days in the quarter drives a seasonal decline in Net Interest Income (NII) • Higher provision expense due to reserve build back on balance sheet growth and economic uncertainty • Expenses decreased in the quarter – • Lower personnel costs including moderating performance-based incentive expense • Lower merger and integration costs – no future costs expected from SSBK transaction

6 Driving shareholder value ¹ Non-GAAP financial measure; See “Use of non-GAAP Financial Measures” and Non-GAAP reconciliations herein. 2 1Q26 calculation is preliminary and subject to change. $2.57 $2.48 $2.45 $1.10 $3.01 $3.40 $3.99 $1.12 2023 2024 2025 2026 YTD Earnings per share Adjusted earnings per share Earnings per Share $14 $14 $20 $22 $25 $27 $30 $28 $31 $34 $38 $38 $12 $12 $15 $17 $19 $22 $25 $23 $26 $28 $30 $31 3Q16 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1Q 26 BVPS TBVPS 15.2% 14.7% 13.6% 13.2% 13.4% 1Q25 2Q25 3Q25 4Q25 1Q26 0.79% 0.97% 0.94% 0.97% 0.96% 1Q25 2Q25 3Q25 4Q25 1Q26 $52.1 $58.6 $81.0 $77.1 $78.2 1Q25 2Q25 3Q25 4Q25 1Q 26 Book Value per Share Total RBC Ratio2 NPLs / Total Loans HFIAdjusted ROATCE1Adjusted PPNR1 (in millions) 1 1 $1,354 $1,364 $1,594 $1,567 $1,594 12.3% 12.4% 14.7% 15.9% 15.3% 1Q25 2Q25 3Q25 4Q25 1Q 26 Tangible Common Equity Adj ROATCE11

7 Net Interest Margin $108.4 $112.2 $148.1 $150.6 $146.8 3.55% 3.68% 3.95% 3.98% 3.94% 1Q25 2Q25 3Q25 4Q25 1Q26 FTE NII / NIM Trend ($ millions) Net Interest Income (NII) Net Interest Margin (NIM) Highlights Net Interest Income Rollforward ($ in thousands) 4Q25 Net Interest Income 150,642 Impact of loan & deposit rate changes 81 Impact of loan volume changes 771 Impact of deposit volume changes (657) Impact of rate & volume change on cash (668) Impact of day count (3,257) Impact of all other changes (139) 1Q26 Net Interest Income 146,774 • NII lower in the quarter driven by day count and the first full quarter’s impact of 4Q benchmark interest rate cuts • Net interest margin (NIM) impacted by lower loan yields and the larger balance sheet • Accretion on purchased loans contributed ~$6.3 million or 17 bps to NIM in 1Q

8 Noninterest Income & Expense $79.5 $107.5 $95.2 60.9% 60.2% 55.2% 1Q25 4Q25 1Q26 Noninterest Expense ($ millions) Noninterest Expense Efficiency Ratio $79.1 $100.4 $93.7 59.9% 56.3% 54.3% 1Q25 4Q25 1Q26 Adj. Noninterest Expense ($ millions) Adj. Noninterest Expense Adj. Efficiency Ratio $23.0 $28.8 $26.4 $23.6 $27.7 $25.9 1Q25 4Q25 1Q26 Noninterest Income ($ millions) Noninterest Income Adj. Noninterest Income Highlights 1 1 Non-GAAP financial measure; See "Use of non-GAAP Financial Measures” and Non-GAAP reconciliations herein. 1 1 1 Noninterest income: • Day count impacts core fees such as mortgage, atm/interchange, etc. • Mortgage income down ~$1.3 mm, partially due to increased market volatility and uncertainty • Decrease in BOLI income of ~$400k, as 4Q included a non-recurring benefit payment • Service charges and swap fees up during the quarter Noninterest expense: • Personnel costs down with a return to normalized incentive levels • Lower merger & integration costs in the period – with no further costs expected • Decreases also noted in Legal & Professional, Data Processing, and Marketing

9 Loans HFI $9.77 $9.87 $12.30 $12.38 $12.50 6.41% 6.44% 6.75% 6.64% 6.51% 1Q 25 2Q25 3Q25 4Q25 1Q26 Loans HFI / Total Yield ($ billions) Loans HFI Total Loan HFI Yield 1-4 family 15% 1-4 family HELOC 6% Multifamily 6% C&D 9% CRE 23% C&I 36% Other 5% Portfolio Mix $12.5 Billion 1 C&I includes owner-occupied CRE. 2 Excludes owner-occupied CRE. Note: Loan yield shown above includes a tax-equivalent adjustment using combined federal and blended state statutory income tax rate of 26.06%. 1 2 • Ending Loan HFI balances were $12.5 billion, up $120 million in the quarter or ~4% annualized • Key growth categories include – • Commercial & Industrial loans up $57mm • CRE Owner-Occupied loans up $56mm • Resi Mortgage loans & HELOCs up $18mm and $27mm, respectively • Lower loan yields a result of repricing of variable rate loans into lower overall benchmark interest rates during the period

10 Office 17% Retail 20% Hotel 18% Warehouse/Industrial 20% Land-Manufactured Housing 4% Self Storage 5% Healthcare Facility 2% Assisted Living Facility 6% Other 8% Residential Development 33% Commercial 35% Consumer 23% Multifamily 9% Construction 25% Land 5% Lots 3% Diversified loan portfolio CRE2 exposure by type Note: Data as of March 31, 2026. 1 C&I includes owner-occupied CRE. 2 Excludes owner-occupied CRE. 3Includes certain “assignment of catalog” lending which pertains to a security interest in a borrower’s intellectual property, at FirstBank this most notably applies to music catalogs. C&D exposure by type C&I1 Exposure by Industry ($ millions) Industry C&I CRE-OO Total % of Total Real estate rental and leasing $313 $269 $582 13% Retail trade 115 406 521 12% Manufacturing 251 258 509 12% Other services (except public administration) 76 274 350 8% Finance and insurance 307 18 325 7% Health care and social assistance 54 227 281 6% Wholesale trade 183 94 277 6% Accommodation and food services 74 198 272 6% Construction 174 90 264 6% Information3 181 13 194 4% Transportation and warehousing 104 87 191 4% Professional, scientific and technical services 118 65 183 4% Arts, entertainment and recreation 64 64 128 3% Administrative and support and waste management and remediation services 73 37 110 3% Other 152 105 257 6% Total $2,239 $2,205 $4,444 100% Land 18% Office 3% Other 14% Construction 15% Land 8%

11 Nashville 39% Memphis 6%Knoxville 3% Huntsville 6% Birmingham 14% Chattanooga 1% Other 10% Communities 21% Class A 21% Class B 44% Class C 12% Under $2 Million 23% Office exposure Geographic exposure Note: Data as of March 31, 2026. Data is only non-owner occupied CRE & C&D loans. Data excludes medical office buildings. Credit detail by class Class Outstanding ($mm) Avg. Balance ($mm) Wtd. Avg. LTV Wtd. Avg Occupancy Class A > $2 million $108.4 $7.2 57.5% 93.0% Class B > $2 million 227.7 5.6 63.5% 80.3% Class C > $2 million 64.9 5.9 64.3% 83.5% Total > $2 million $401.0 $6.0 62.0% 84.3% Total < $2 million 121.4 0.6 N/A N/A Total Office $522.4 $1.9 N/A N/A Exposure by class • Office loans as of 1Q26 – • Represent ~4% of total Loans HFI population • 99% of portfolio is pass rated and current • 16% of portfolio matures by year-end 2026 • 52% fixed rate & 48% floating rate • Continuous monitoring of office loans greater than $2 million shows minimal concerns • Projects generally characterized by 25-30% cash equity requirement, loan to value maximums of 70%-75% at origination, and requests for guarantors

12 Valuable deposit base Cost of deposits 19.3% 19.2% 19.5% 18.9% 18.9% 2.54% 2.48% 2.53% 2.40% 2.27% 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% 1Q25 2Q25 3Q25 4Q25 1Q26 Noninterest-bearing as % of total deposits Cost of total deposits (%) Deposits by customer segment ($billions) • Deposit balances ended at $14.1 billion, up $167 million or ~5% annualized • Customer deposits up ~3% annualized – led by growth in CDs, Savings, and seasonal Public Funds • 4Q deposit repricing drove decline in cost of funds and led to declines in rate-sensitive money market balances Highlights Noninterest -bearing checking 19% Interest- bearing checking 19% Money market & savings 42% Time 20% 38% Checking accounts 1Q26 Deposit composition $4.9 $4.8 $6.0 $6.1 $6.1 $4.7 $4.8 $6.0 $6.2 $6.1 $1.6 $1.8 $1.8 $1.7 $1.9 $11.2 $11.4 $13.8 $14.0 $14.1 1Q25 2Q25 3Q25 4Q25 1Q26 Consumer Commercial Public Total

13 Asset Quality Metrics 0.63% 0.76% 0.76% 0.80% 0.78% 0.21% 0.16% 0.13% 0.17% 0.20% 0.84% 0.92% 0.89% 0.97% 0.98% 1Q25 2Q25 3Q25 4Q25 1Q26 Nonperforming Assets / Total Assets Other NPAs Optional GNMA repurchase • Higher charge-off levels during the quarter a result of unique borrower situations, not broader economic themes • Underlying credit quality remains solid with stable nonperforming loan and asset ratios • Reserve levels remain adequate and relatively stable $150.5 $148.9 $185.0 $186.0 $186.3 1.54% 1.51% 1.50% 1.50% 1.49% 1Q25 2Q25 3Q25 4Q25 1Q26 Allowance for Credit Losses & Coverage Ratio ($ millions) ACL ACL Coverage Ratio 13Q25 provision expense includes the impact of day one provision for non-PCD acquired loans and unfunded commitments. 2Includes other real estate owned and repossessed assets–see page 13 of the 1Q26 Financial Supplement. Highlights 2 $2,292 $5,337 $34,417 $1,232 $3,024 0.14% 0.02% 0.05% 0.05% 0.11% 1Q25 2Q25 3Q25 4Q25 1Q26 Provision for Credit Losses & Net Charge Offs ($ thousands) Provision for Credit Losses NCO Ratio (ann.) 1

14 1.54% 0.87% 1.31% 0.89% 2.51% 1.76% 1.60% 1.82% 3.59% 1.50% 1.11% 1.25% 1.01% 2.16% 1.64% 1.81% 1.43% 3.49% 1.49% 1.14% 1.22% 1.00% 2.34% 1.45% 1.79% 1.37% 3.29% Gross Loans HFI Commercial & Industrial Non-Owner Occ CRE Owner Occ CRE Construction Multifamily 1-4 Family Mortgage 1-4 Family HELOC Consumer & Other 1Q25 4Q25 1Q26 Allowance Modeling & Reserve Allocation ACL on loans HFI / Loans HFI by category • In 1Q equities and broader markets were noticeably more volatile due to geopolitical events and a sharp increase in oil prices • Economic forecasts include consideration of these events at varying levels • Certain macro economic forecast variables were still improved compared to the 4Q outlook • 1.49% ACL coverage ratio at period end Key forecast inputs1 2Q26 3Q26 4Q26 1Q27 National Unemployment Rate 4.5 4.5 4.5 4.5 CRE Price Index 1.4 1.4 1.4 1.4 National Housing Price Index 0.15 0.69 0.23 -0.01 Prime Rate 6.1 5.9 5.6 5.6 1 Source: Moody’s “March 2026 U.S. Macroeconomic Outlook Baseline Scenario”, with the exception of the National Housing Price Index which also incorporates components of the Mortgage Bankers Association Mortgage Finance Forecast.

15 Capital & Liquidity Simple Capital Structure Common Equity Tier 1 Capital 86% Subordinated Notes 5% Tier 2 ACL 9% Total regulatory capital: $1,920 1 Non-GAAP financial measure; See "Use of non-GAAP Financial Measures” and Non-GAAP reconciliations herein. 2 1Q26 calculation is preliminary and subject to change. 3 Includes capacity from internal policy and does not include loans held at the REIT that could be pledged for additional capacity. On-balance sheet liquidity ($mm) $1,498 $1,713 $1,890 $1,805 $1,795 11.6% 13.1% 11.9% 11.3% 11.2% 1Q25 2Q25 3Q25 4Q25 1Q26 On-balance sheet liquidity On-balance sheet liquidity / tangible assets Capital Position 1Q25 4Q25 1Q26 Shareholder’s Equity/Assets 12.2% 12.0% 12.0% TCE/TA1 10.5% 9.84% 9.91% Common Equity Tier 12 12.8% 11.4% 11.5% Tier 1 Risk-Based2 13.1% 11.4% 11.5% Total Risk-Based2 15.2% 13.2% 13.4% AOCI Adjusted Ratios:1,2 Adj. Common Equity Tier 1 11.3% Adj. Total Risk-Based 13.2% 1 • Capital and liquidity levels remain strong and well- above required regulatory thresholds • Executed ~$22 million in share buy backs in 1Q 26 • Securities portfolio makes up 9% of total assets and does not include any HTM securities • 1Q26 available sources of liquidity – • $1.8 billion on-balance sheet • $8.6 billion total other sources3

16 Mortgage results 2.51% 2.86% 2.69% 2.97% 2.89% 1Q25 2Q25 3Q25 4Q25 1Q26 Interest rate lock commitment volume ($mm) Mortgage gain on sale margin $329 $402 $342 $279 $366 $53 $55 $90 $107 $124 $382 $457 $432 $386 $490 1Q25 2Q25 3Q25 4Q25 1Q26 Purchase Refinance Highlights Mortgage Banking Segment ($ thousands) 1Q25 4Q25 1Q26 Total Revenue $ 14,254 $ 16,827 $ 15,256 Provision for loan losses 103 436 1,037 Noninterest expense 12,640 13,992 13,588 Pre-tax net contribution after allocations 1,511 2,399 631 Total Assets 646,352 676,330 765,191 Efficiency Ratio 88.7% 83.2% 89.1% Core Efficiency Ratio1 87.9% 83.2% 89.6% 1 Non-GAAP financial measure; See "Use of non-GAAP Financial Measures” and Non-GAAP reconciliations herein. • Mortgage segment pre-tax net contribution of $631 thousand • Rate lock activity up in the quarter including ~$134 million in pipeline at quarter end • Economic uncertainty set in during the back half of the quarter slowing deal flow and close timelines, leading to lower segment revenue

17 Appendix

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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Name of the state or province.

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A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

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-Name Exchange Act

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Indicate if registrant meets the emerging growth company criteria.

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-Publisher SEC

-Name Exchange Act

-Number 240

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-Subsection b-2

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Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.

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No definition available.

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- Definition

Two-character EDGAR code representing the state or country of incorporation.

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No definition available.

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The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.

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-Publisher SEC

-Name Exchange Act

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Local phone number for entity.

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

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-Name Exchange Act

-Number 240

-Section 13e

-Subsection 4c

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

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-Subsection 2b

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- Definition

Title of a 12(b) registered security.

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-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b

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Name of the Exchange on which a security is registered.

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-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

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-Publisher SEC

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Trading symbol of an instrument as listed on an exchange.

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

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-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

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