Fb Financial Corporation · NYSE:FBK
Fb Financial — Q2 2025 Earnings Presentation
34 slides from Fb Financial's earnings presentation, Jul 15, 2025
Slide 1: 2025 Second Quarter Earnings Presentation
2025 Second Quarter Earnings Presentation July 15, 2025
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: 2Q 2025 Results
2Q 2025 Results • Net income of $2.9 million and $40.8 million on an adjusted Key highlights basis1 • Securities portfolio restructure loss of $60 million Reported Adjusted1 Earnings • 13 bps expansion of net interest margin (NIM) to 3.68% • Improved fee income and moderating core expenses Diluted e
Slide 5: 2Q 2025 Earnings
2Q 2025 Earnings Quarter ended $ Change from $ in thousands, except per share data 2Q25 1Q25 2Q24 1Q25 2Q24 Total Revenue 76,863 130,673 128,223 (53,810) (51,360) Provision for credit losses 5,337 2,292 2,224 3,045 3,113 Noninterest Expense 81,261 79,549 75,093 1,712 6,168 Pre-tax (loss) income (9,7
Slide 6: Driving shareholder value
Driving shareholder value Earnings per Share Book Value per Share Earnings per share Adjusted earnings per share1 1 BVPS TBVPS $3.40 $2.92 $3.01 $35 $34 $2.64 $2.57 $2.48 $31 $30 $28 $30 $27 $28 $25 $25 $26 $1.74 $22 $22 $23 $20 $17 $19 $0.91 $15 $14 $14 $12 $12 2022 2023 2024 YTD 3Q16 2016 2017 201
Slide 7: Net Interest Margin
Net Interest Margin Highlights FTE NII / NIM Trend ($ in millions) • Net Interest Income (NII) impacted by – Increased average loan balances ~$220 million $112.2 Reduced total deposit costs ~6 bps $109.0 $108.4 One additional day in the quarter $106.6 • Lower average earning total assets durin
Slide 8: Noninterest Income & Expense
Noninterest Income & Expense Highlights Noninterest Income ($ millions) $25.6 $23.8 $23.0 $23.6 $25.8 Noninterest income: • Securities loss of ~$60 million drove a negative noninterest income figure on a 2Q24 1Q25 2Q25 reported basis during the quarter $(34.6) • Adjusted Noninterest income1 was up $
Slide 9: Loans HFI
Loans HFI Loans HFI / Total Yield Portfolio Mix ($ billions) $9.87 $9.77 C&I 1 $9.60 32% Other 6% $9.48 $9.31 $9.9 CRE 2 22% Billion 1-4 family 17% 6.70% 6.70% 6.51% 6.41% 6.44% C&D 1-4 family 10% HELOC 7% Multifamily 6% 2Q 24 3Q 24 4Q 24 1Q 25 2Q25 Loans HFI Total Loan HFI Yield • Loans held for in
Slide 10: Diversified loan portfolio
Diversified loan portfolio C&I1 Exposure by Industry CRE2 exposure by type ($ millions) % of Other Assisted Living Office Industry C&I CRE-OO Total Total 8% Facility 18% 7% Real estate rental and leasing $270 $232 $502 16% Healthcare Facility 3% Finance and insurance 309 14 323 10% Self Storage Manu
Slide 11: Office exposure
Office exposure • Office loans as of 2Q25 – Credit detail by class • Represent 4% of total Loans HFI population Avg. Wtd. Avg. Wtd. Avg • 99% of portfolio is pass rated and current Class Outstanding Balance LTV Occupancy • 23% of portfolio matures by year-end 2026 Class A > $2 million $140.5 $10.8 4
Slide 12: Valuable deposit base
Valuable deposit base Deposits by customer segment ($mm) Highlights Consumer Commercial Public • Strategic focus on growing relationships $10,976 $11,210 $11,203 $11,403 $10,468 resulted in higher balances in non-interest $1,413 $1,555 $1,638 $1,795 $1,522 bearing and money market accounts $4,271 $4
Slide 13: Allowance Modeling & Reserve Allocation
Allowance Modeling & Reserve Allocation • During the quarter, the Company migrated to a new Key forecast inputs1 Allowance for Credit Losses model 3Q25 4Q25 1Q26 2Q26 • The change was accounted for as a change in National Unemployment Rate 4.3 4.3 4.5 4.7 accounting estimate CRE Price Index 1.2 1.1
Slide 14: Asset Quality Metrics
Asset Quality Metrics Highlights Allowance for Credit Losses & Coverage Ratio ($ millions) • Net charge-off activity normalized during the quarter at $156 $155 an annualized rate of 0.02% $152 • Net impact to provision expense from model change was $151 1.67% 1.65% ~$395 thousand $149 1.58% 1.54% 1.
Slide 15: Capital & Liquidity
Capital & Liquidity Capital Position On-balance sheet liquidity ($mm) 2Q24 1Q25 2Q25 On-balance sheet liquidity Shareholder’s Equity/Assets 12.0% 12.2% 12.1% On-balance sheet liquidity / tangible assets1 $1,713 $1,644 TCE/TA1 10.2% 10.5% 10.4% $1,462 $1,498 $1,414 Common Equity Tier 12 12.7% 12.8% 1
Slide 16: Mortgage results
Mortgage results Highlights Interest rate lock commitment volume ($mm) Purchase Refinance • Mortgage segment pre-tax pre-provision net revenue $457 (PPNR) of $1.7 million and pre-tax net contribution of $385 $381 $382 $55 $(3.0) million $49 $67 $316 $53 • Increased revenue through strong loan sale a
Slide 17: FBK & SSBK Combination
FBK & SSBK Combination Merger timeline: Shareholder Approval June 26, 2025 Deal Announced Regulatory Approval Legal Close Anticipated March 31, 2025 June 12, 2025 July 1, 2025 Conversion Weekend 8/29 – 9/1 Deal metrics Deal Assumptions Status 25% in 2025 Merger update: Cost savings 75% in 2026 100%
Slide 18: Appendix
FB} pee Bank Appendix
Slide 19: 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 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 tangible net income
GAAP reconciliations and use of non-GAAP financial measures Adjusted tangible net income 21
Slide 23: Adjusted pre-tax pre-provision net revenue
GAAP reconciliations and use of non-GAAP financial measures Adjusted pre-tax pre-provision net revenue 22
Slide 24: Adjusted tangible net income
GAAP reconciliations and use of non-GAAP financial measures Adjusted tangible net income 23
Slide 25: Adjusted Common Equity Tier and Total Risk-Based capital ratios
GAAP reconciliations and use of non-GAAP financial measures Adjusted Common Equity Tier 1 and Total Risk-Based capital ratios 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: Banking segment core efficiency ratio (tax-equivalent)
GAAP reconciliations and use of non-GAAP financial measures Banking segment core efficiency ratio (tax-equivalent) 26
Slide 28: Mortgage segment core efficiency ratio (tax-equivalent)
GAAP reconciliations and use of non-GAAP financial measures Mortgage segment core efficiency ratio (tax-equivalent) 27
Slide 29: Tangible assets, common equity and related measures
GAAP reconciliations and use of non-GAAP financial measures Tangible assets, common equity and related measures 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: 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 30
Slide 32: 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 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 and equity
GAAP reconciliations and use of non-GAAP financial measures Adjusted return on average assets and equity 33