8-K - FB Financial Corp - 2.02 / 7.01 / 9.01

Form 8-K - Current report: SEC Accession No. 0001649749-26-000033

Filing Date: 2026-04-13

Accepted: 2026-04-13 16:18:18

Documents: 51

Period of Report: 2026-04-13

Items: Item 2.02: Results of Operations and Financial Condition Item 7.01: Regulation FD Disclosure Item 9.01: Financial Statements and Exhibits

FB Financial Corp (Filer) CIK : 0001649749 (see all company filings) EIN. : 621216058 | State of Incorp.: TN | Fiscal Year End: 1231 Type: 8-K | Act: 34 | File No.: 001-37875 | Film No.: 26858000 SIC : 6022 State Commercial Banks (CF Office: 02 Finance)

1 | 8-K | fbk-20260413.htm iXBRL | 8-K

2 | EX-99.1 | a1q26pressreleasetablesfor.htm | EX-99.1

3 | EX-99.2 | a1q26supplementalfinancial.htm | EX-99.2

4 | EX-99.3 | a1q26fbkearningspresenta.htm | EX-99.3

EX-99.1 2 a1q26pressreleasetablesfor.htm EX-99.1 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. -MORE- 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.” -MORE- 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* 1 was 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.