Fb Financial Corporation · NYSE:FBK
Fb Financial — Q3 2025 Earnings Presentation
36 slides from Fb Financial's earnings presentation, Nov 5, 2025
Slide 1: Fourth Quarter 2025 Investor Presentation
November 6, 2025 Fourth Quarter 2025 Investor Presentation
Slide 2: Forward-looking statements
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, stat
Slide 3: Use of non-GAAP financial measures
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 li
Slide 4: Snapshot of FB Financial today
3 Snapshot of FB Financial today 1 Source: S&P Global. Market data is as of June 30, 2025 and is presented on a pro forma basis for announced acquisitions since June 30, 2025. 2 Non-GAAP financial measure; See "Use of non-GAAP Financial Measures” and Non-GAAP reconciliations herein. 3 Presented on a
Slide 5: Strategic drivers
4 Strategic drivers Highly Motivated Executive Management Team Great Place to Work Poised for Solid Performance Empowered Teams Across Attractive Metro & Community Markets Organic Focused Growth Proven Opportunistic Acquirer with Scalable Platforms and Technology
Slide 6: Recent corporate history
5 Recent corporate history 2021 Awarded “Top Workplaces” by the Tennessean; Named one of American Banker’s “Best Places to Work” 2020 • Completed acquisition of FNB Financial Corporation; enter Bowling Green MSA ranked 7th in deposit market share • Converted online and mobile consumer banking platfo
Slide 7: Well-positioned for organic growth in desirable markets
6 Well-positioned for organic growth in desirable markets Growing deposit franchise 1Source: S&P Global. Market data is as of June 30, 2024 and is presented on a pro forma basis for announced acquisitions since June 30, 2024. 2Source: S&P Global. Market data is as of June 30, 2025 and is presented o
Slide 8: Driving shareholder value
7 Driving shareholder value ¹ Non-GAAP financial measure; See “Use of non-GAAP Financial Measures” and Non-GAAP reconciliations herein. 2 3Q25 calculation is preliminary and subject to change. $2.64 $2.57 $2.48 $1.34 $2.92 $3.01 $3.40 $2.82 2022 2023 2024 YTD Earnings per share Adjusted earnings per
Slide 9: Net Interest Margin
8 Net Interest Margin $106.6 $109.0 $108.4 $112.2 $148.1 3.55% 3.50% 3.55% 3.68% 3.95% 3Q24 4Q24 1Q25 2Q25 3Q25 FTE NII / NIM Trend ($ millions) Net Interest Income (NII) Net Interest Margin (NIM) Highlights Net Interest Income Rollforward ($ in thousands) 112,2362Q25 Net Interest Income 40,965Impac
Slide 10: Noninterest Income & Expense
9 Noninterest Income & Expense $76.2 $81.3 $109.9 85.1% 105.7% 63.2% 3Q24 2Q25 3Q25 Noninterest Expense ($ millions) Noninterest Expense Efficiency Ratio $76.2 $78.5 $93.5 58.4% 56.9% 53.3% 3Q24 2Q25 3Q25 Core Noninterest Expense ($ millions) Core Noninterest Expense Core Efficiency Ratio $(16.5) $(
Slide 11: Loans HFI
10 Loans HFI $9.48 $9.60 $9.77 $9.87 $12.30 6.70% 6.51% 6.41% 6.44% 6.75% 3Q 24 4Q 24 1Q 25 2Q25 3Q25 Loans HFI / Total Yield ($ billions) Loans HFI Total Loan HFI Yield 1-4 family 15% 1-4 family HELOC 6% Multifamily 6% C&D 10% CRE 23% C&I 35% Other 5% Portfolio Mix $12.3 Billion 1 C&I includes owne
Slide 12: Diversified loan portfolio
11 Residential Development 38% Commercial 38% Consumer 16% Multifamily 8% Construction 28% Land 6% Lots 4% Office 18% Retail 22% Hotel 17% Warehouse/Industrial 18% Land-Manufactured Housing 4% Self Storage 5% Healthcare Facility 2% Assisted Living Facility 5% Other 9% Diversified loan portfolio CRE2
Slide 13: Geographic exposure and office exposure
12 Nashville 43% Memphis 8%Knoxville 3% Huntsville 6% Birmingham 11% Chattanooga 1% Other 9% Communities 19% Class A 26% Class B 41% Class C 12% Under $2 Million 21% Office exposure • Office loans as of 3Q25 – • Represent 4% of total Loans HFI population • 99% of portfolio is pass rated and current
Slide 14: Valuable deposit base
13 Valuable deposit base Cost of deposits 20.3% 18.9% 19.3% 19.2% 19.5% 2.83% 2.70% 2.54% 2.48% 2.53% 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% 3Q24 4Q24 1Q25 2Q25 3Q25 Noninterest-bearing as % of total deposits Cost of total deposits (%) Deposits by cus
Slide 15: Asset Quality Metrics
14 Asset Quality Metrics 0.76% 0.69% 0.63% 0.76% 0.76% 0.23% 0.24% 0.21% 0.16% 0.13% 0.99% 0.93% 0.84% 0.92% 0.89% 3Q24 4Q24 1Q25 2Q25 3Q25 Nonperforming Assets / Assets Other NPAs Optional GNMA repurchase • Allowance build driven by the completion of the Southern States merger, which includes an al
Slide 16: Allowance Modeling & Reserve Allocation
15 1.65% 1.43% 1.20% 0.87% 2.83% 1.47% 1.61% 1.81% 3.96% 1.51% 1.13% 1.20% 0.87% 2.14% 1.86% 1.82% 1.35% 3.10% 1.50% 1.21% 1.18% 0.96% 2.33% 1.60% 1.78% 1.48% 3.35% Gross Loans HFI Commercial & Industrial Non-Owner Occ CRE Owner Occ CRE Construction Multifamily 1-4 Family Mortgage 1-4 Family HELOC C
Slide 17: Capital & Liquidity
16 Capital & Liquidity Simple Capital Structure Common Equity Tier 1 Capital 86% Subordinated Notes 5% Tier 2 ACL 9% Total regulatory capital: $1,923 1 Non-GAAP financial measure; See "Use of non-GAAP Financial Measures” and Non-GAAP reconciliations herein. 2 3Q25 calculation is preliminary and subj
Slide 18: Mortgage results
17 Mortgage results • Mortgage segment pre-tax net contribution of $2.7 million, driven by lower provision and expenses • The elevated provision expense in 2Q25 did not repeat, increase was a one-time item related to a change in accounting estimate for ACL in 2Q • Lower lock and loan sale volumes in
Slide 19: FBK & SSBK Combination Summary
18 FBK & SSBK Combination Summary Deal Announced March 31, 2025 Regulatory Approval June 12, 2025 Shareholder Approval June 26, 2025 Legal Close July 1, 2025 System Conversion Completed Sept. 2, 2025 Merger timeline: Merger update: Deal closed July 1, 2025 ~90 days from announcement to close S
Slide 20: Appendix
19 Appendix
Slide 21: Adjusted net income and diluted earnings per share
20 GAAP reconciliations and use of non-GAAP financial measures Adjusted net income and diluted earnings per share
Slide 22: Adjusted net income and diluted earnings per share
21 GAAP reconciliations and use of non-GAAP financial measures Adjusted net income and diluted earnings per share
Slide 23: Adjusted pre-tax pre-provision net revenue
22 GAAP reconciliations and use of non-GAAP financial measures Adjusted pre-tax pre-provision net revenue
Slide 24: Adjusted tangible net income
23 GAAP reconciliations and use of non-GAAP financial measures Adjusted tangible net income
Slide 25: Adjusted pre-tax pre-provision net revenue
24 GAAP reconciliations and use of non-GAAP financial measures Adjusted pre-tax pre-provision net revenue
Slide 26: Adjusted tangible net income
25 GAAP reconciliations and use of non-GAAP financial measures Adjusted tangible net income
Slide 27: Adjusted Common Equity Tier and Total Risk-Based capital ratios
26 GAAP reconciliations and use of non-GAAP financial measures Adjusted Common Equity Tier 1 and Total Risk-Based capital ratios
Slide 28: Core efficiency ratio (tax-equivalent basis)
27 GAAP reconciliations and use of non-GAAP financial measures Core efficiency ratio (tax-equivalent basis)
Slide 29: Banking segment core efficiency ratio (tax-equivalent)
28 GAAP reconciliations and use of non-GAAP financial measures Banking segment core efficiency ratio (tax-equivalent)
Slide 30: Mortgage segment core efficiency ratio (tax-equivalent)
29 GAAP reconciliations and use of non-GAAP financial measures Mortgage segment core efficiency ratio (tax-equivalent)
Slide 31: Tangible assets, common equity and related measures
30 GAAP reconciliations and use of non-GAAP financial measures Tangible assets, common equity and related measures
Slide 32: Tangible assets, common equity and related measures
31 GAAP reconciliations and use of non-GAAP financial measures Tangible assets, common equity and related measures
Slide 33: 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
Slide 34: Adjusted return on average assets, 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
Slide 35: Adjusted return on average tangible common equity and related measures
34 GAAP reconciliations and use of non-GAAP financial measures Adjusted return on average tangible common equity and related measures
Slide 36: Adjusted return on average assets and equity
35 GAAP reconciliations and use of non-GAAP financial measures Adjusted return on average assets and equity