Fb Financial Corporation · NYSE:FBK
Fb Financial — Q1 2026 Earnings Presentation
35 slides from Fb Financial's earnings presentation, Apr 14, 2026
Slide 1: 2026 First Quarter Earnings Presentation
2026 First Quarter Earnings Presentation April 14, 2026
Slide 2: Forward-looking statements
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, statem
Slide 3: Use of non-GAAP financial measures
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 limi
Slide 4: FirstBank receives JD Power award
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: “For our customers’ feedback to result in us ranking #1 is • JD
Slide 5: 1Q 2026 Results
1Q 2026 Results Key highlights • Net income of $57.5 million or $58.3 million (adjusted)1 • Softer revenue on the shorter quarter & full impact of prior Reported Adjusted1 quarter rate cuts Earnings • Lower expenses drive increased operating leverage Diluted earnings per common share $ 1.10 $ 1.12 •
Slide 6: 1Q 2026 Earnings
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,
Slide 7: Driving shareholder value
Driving shareholder value Earnings per Share Book Value per Share Earnings per share Adjusted earnings per share1 1 BVPS TBVPS $3.99 $3.40 $3.01 $38 $38 $2.57 $2.48 $2.45 $34 $31 $31 $30 $28 $30 $27 $28 $25 $25 $26 $22 $23 $22 $1.10 $1.12 $20 $17 $19 $14 $14 $15 $12 $12 2023 2024 2025 2026 YTD 3Q16
Slide 8: Net Interest Margin
Net Interest Margin Highlights FTE NII / NIM Trend ($ millions) • NII lower in the quarter driven by day count and the first full quarter’s impact of 4Q benchmark interest rate cuts $148.1 $150.6 $146.8 • Net interest margin (NIM) impacted by lower loan yields and the larger balance sheet • Accretio
Slide 9: Noninterest Income & Expense
Noninterest Income & Expense Highlights Noninterest Income ($ millions) $28.8 $27.7 Noninterest income: $26.4 $25.9 $23.0 $23.6 • Day count impacts core fees such as mortgage, atm/interchange, etc. • Mortgage income down ~$1.3 mm, partially 1Q25 4Q25 1Q26 due to increased market volatility and 1 unc
Slide 10: Loans HFI
Loans HFI Loans HFI / Total Yield ($ billions) Portfolio Mix $12.30 $12.38 $12.50 1 C&I 36% Other $9.77 $9.87 5% $12.5 2 CRE Billion 1-4 family 15% 6.75% 6.64% 23% 6.41% 6.44% 6.51% 1-4 family C&D HELOC 9% 6% Multifamily 6% 1Q 25 2Q25 3Q25 4Q25 1Q26 Loans HFI Total Loan HFI Yield • Ending Loan HFI b
Slide 11: Diversified loan portfolio
Diversified loan portfolio C&I1 Exposure by Industry CRE2 exposure by type ($ millions) Assisted Living Other Industry C&I CRE-OO Total % of Total 8% Office Facility 17% Real estate rental and leasing $313 $269 $582 13% 6% Healthcare Facility Retail trade 115 406 521 12% 2% Self Storage 5% Manufactu
Slide 12: Office exposure
Office exposure • Office loans as of 1Q26 – Credit detail by class • Represent ~4% of total Loans HFI population Avg. • 99% of portfolio is pass rated and current Outstanding Balance Wtd. Avg. Wtd. Avg Class ($mm) ($mm) LTV Occupancy • 16% of portfolio matures by year-end 2026 Class A > $2 million $
Slide 13: Valuable deposit base
Valuable deposit base Deposits by customer segment ($billions) Highlights Consumer Commercial Public Total • Deposit balances ended at $14.1 billion, up $13.8 $14.0 $14.1 $167 million or ~5% annualized $11.2 $11.4 $1.8 $1.7 $1.9 • Customer deposits up ~3% annualized – led by $1.6 $1.8 $6.0 $6.2 $6.1
Slide 14: Asset Quality Metrics
Asset Quality Metrics Highlights Allowance for Credit Losses & Coverage Ratio ($ millions) $185.0 $186.0 $186.3 • Higher charge-off levels during the quarter a result of unique borrower situations, not broader $150.5 $148.9 economic themes 1.54% • Underlying credit quality remains solid with stable
Slide 15: Allowance Modeling & Reserve Allocation
Allowance Modeling & Reserve Allocation • In 1Q equities and broader markets were noticeably Key forecast inputs1 more volatile due to geopolitical events and a sharp increase in oil prices 2Q26 3Q26 4Q26 1Q27 • Economic forecasts include consideration of these National Unemployment Rate 4.5 4.5 4.5
Slide 16: Capital & Liquidity
Capital & Liquidity Capital Position On-balance sheet liquidity ($mm) 1Q25 4Q25 1Q26 On-balance sheet liquidity Shareholder’s Equity/Assets 12.2% 12.0% 12.0% On-balance sheet liquidity / tangible assets1 $1,890 TCE/TA1 10.5% 9.84% 9.91% $1,805 $1,795 $1,713 Common Equity Tier 12 12.8% 11.4% 11.5% $1
Slide 17: Mortgage results
Mortgage results Highlights Interest rate lock commitment volume ($mm) Purchase Refinance • Mortgage segment pre-tax net contribution of $631 $490 thousand $457 $432 $382 $55 $386 $124 $90 • Rate lock activity up in the quarter including ~$134 $53 $107 million in pipeline at quarter end $402 $366 $3
Slide 18: Appendix
FB} pee Bank Appendix
Slide 19: GAAP reconciliations and use of non-GAAP financial measures
GAAP reconciliations and use of non-GAAP financial measures Adjusted net income and diluted earnings per share 18
Slide 20: Adjusted net income and diluted earnings per share
GAAP reconciliations and use of non-GAAP financial measures Adjusted net income and diluted earnings per share 19
Slide 21: Adjusted pre-tax pre-provision net revenue
GAAP reconciliations and use of non-GAAP financial measures Adjusted pre-tax pre-provision net revenue 20
Slide 22: Adjusted pre-tax pre-provision net revenue
GAAP reconciliations and use of non-GAAP financial measures Adjusted pre-tax pre-provision net revenue 21
Slide 23: Adjusted tangible net income
GAAP reconciliations and use of non-GAAP financial measures Adjusted tangible net income 22
Slide 24: Adjusted tangible net income
GAAP reconciliations and use of non-GAAP financial measures Adjusted tangible net income 23
Slide 25: Adjusted total risk-based capital
GAAP reconciliations and use of non-GAAP financial measures Adjusted total risk-based capital 24
Slide 26: Core efficiency ratio (tax-equivalent basis)
GAAP reconciliations and use of non-GAAP financial measures Core efficiency ratio (tax-equivalent basis) 25
Slide 27: Core efficiency ratio (tax-equivalent basis)
GAAP reconciliations and use of non-GAAP financial measures Core efficiency ratio (tax-equivalent basis) 26
Slide 28: Banking segment core efficiency ratio (tax-equivalent basis)
GAAP reconciliations and use of non-GAAP financial measures Banking segment core efficiency ratio (tax-equivalent basis) 27
Slide 29: Mortgage segment core efficiency ratio (tax-equivalent basis)
GAAP reconciliations and use of non-GAAP financial measures Mortgage segment core efficiency ratio (tax-equivalent basis) 28
Slide 30: Tangible assets, common equity and related measures
GAAP reconciliations and use of non-GAAP financial measures Tangible assets, common equity and related measures 29
Slide 31: Tangible assets, common equity and related measures
GAAP reconciliations and use of non-GAAP financial measures Tangible assets, common equity and related measures 30
Slide 32: Adjusted return on average tangible common equity and related measures
GAAP reconciliations and use of non-GAAP financial measures Adjusted return on average tangible common equity and related measures 31
Slide 33: Adjusted return on average tangible common equity and related measures
GAAP reconciliations and use of non-GAAP financial measures Adjusted return on average tangible common equity and related measures 32
Slide 34: Adjusted return on average assets, common equity and related measures
GAAP reconciliations and use of non-GAAP financial measures Adjusted return on average assets, common equity and related measures 33
Slide 35: Adjusted return on average assets, common equity and related measures
GAAP reconciliations and use of non-GAAP financial measures Adjusted return on average assets, common equity and related measures 34