Fb Financial Corporation · NYSE:FBK
Fb Financial — Debt Investor Presentation (September 2026)
40 slides from Fb Financial's debt investor presentation, Sep 17, 2026
Slide 1: September 2026 Fixed Income Investor Presentation
September 2026 Fixed Income Investor Presentation
Slide 2: Forward-Looking Statements
2 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
3 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: Our Executive Leadership
4 Our Executive Leadership Christopher T. Holmes President & CEO Age: 62 • President and Chief Executive Officer of FB Financial and FirstBank since 2013; President since 2012 • Joined FirstBank in 2010 as Chief Banking Officer and has served on both boards since 2010 • Director of Corporate Financi
Slide 5: Company Overview
COMPANY OVERVIEW
Slide 6: FB Financial Today
6 FB Financial Today $16.8bn Assets $12.9bn Loans HFI $14.3bn Deposits FirstBank Branch 1.44% ROAA 3.95% NIM (FTE) 9.5% TCE / TA1 11.0% CET1 Ratio 1.51% ACL / Loans HFI • Founded in 1906 in Scotts Hill, Tennessee — One of the longest continually operating banks in Tennessee; headquartered in Nashvil
Slide 7: Recent Corporate History
7 Recent Corporate History • Market expansion into Asheville, NC and Tuscaloosa, AL • Completed 2 securities portfolio restructure transactions totaling $526M sold and reinvested at a weighted average yield improvement of ~3.3% • Continued focus on operating efficiency measures resulting in an adjus
Slide 8: Exceptional Markets
8 11.3% 11.7% 14.7% 10.2% 11.4% U.S. FBK Footprint Nashville Chattanooga Atlanta 2.6% 4.2% 5.7% 3.8% 4.2% U.S. FBK Footprint Nashville Chattanooga Atlanta Exceptional Markets 1 Market data per S&P Global as of June 30, 2025 and presented on a pro forma basis for announced acquisitions since June 30,
Slide 9: Investment Highlights
9 Investment Highlights Leading Regional Presence Dense franchise across attractive Southeast markets ✓Chartered in 1906 — one of the longest continually operating banks in Tennessee; local decision-making model across the footprint ✓90 full-service branches across Tennessee, Alabama, Kentucky and G
Slide 10: Financial Overview
FINANCIAL OVERVIEW
Slide 11: Balance Sheet Trends
11 Balance Sheet Trends $9,874 $12,298 $12,384 $12,504 $12,866 2Q25 3Q25 4Q25 1Q26 2Q26 $13,354 $16,236 $16,300 $16,468 $16,796 2Q25 3Q25 4Q25 1Q26 2Q26 $11,403 $13,813 $13,910 $14,077 $14,347 2Q25 3Q25 4Q25 1Q26 2Q26 Loans ($ millions) Deposits ($ millions) Assets ($ millions)
Slide 12: Profitability
12 $0.06 $0.43 $1.07 $1.10 $1.13 $0.88 $1.07 $1.16 $1.12 $1.14 2Q25 3Q25 4Q25 1Q26 2Q26 Diluted EPS Adjusted Diluted EPS 105.7% 63.2% 60.2% 55.2% 52.3% 56.9% 53.3% 56.3% 54.3% 52.0% 2Q25 3Q25 4Q25 1Q26 2Q26 Efficiency Adjusted Efficiency Ratio 0.9% 5.8% 14.4% 14.7% 14.6% 12.4% 14.7% 15.9% 15.3% 15.0
Slide 13: Net Interest Margin
13 Net Interest Margin $112.2 $148.1 $150.6 $146.8 $149.8 3.68% 3.95% 3.98% 3.94% 3.95% 2Q25 3Q25 4Q25 1Q26 2Q26 FTE NII / NIM Trend ($ millions) Net Interest Income (NII) Net Interest Margin (NIM) Highlights Net Interest Income Rollforward ($ in thousands) 1Q26 Net Interest Income 146,774 Impact of
Slide 14: Interest Rate Positioning and Sensitivity
14 9.23% 6.41% 3.32% (3.30%) (5.91%) (7.27%) +300 +200 +100 -100 -200 -300 Change in Future Net Interest Income (12 month Horizon) Change in Interest Rates 3.42% 3.57% 3.55% 3.50% 3.55% 3.68% 3.95% 3.98% 3.94% 3.95% 6.64% 6.70% 6.70% 6.51% 6.41% 6.44% 6.75% 6.64% 6.51% 6.48% 2.76% 2.77% 2.83% 2.70%
Slide 15: Noninterest Income
15 Noninterest Income Mortgage Banking Income 43% Investment Services and Trust Income 17% Service Charges on Deposit Accounts 17% ATM and Interchange Fees 13% Other Income 10% ($34.5) $26.6 $28.8 $26.4 $25.8 $25.8 $27.3 $27.7 $25.9 $26.2 2Q25 3Q25 4Q25 1Q26 2Q26 NII Adjusted NII 1 Non-GAAP financia
Slide 16: Mortgage Results
16 Mortgage Results 2.86% 2.69% 2.97% 2.89% 2.49% 2Q25 3Q25 4Q25 1Q26 2Q26 Interest rate lock commitment volume ($mm) Mortgage gain on sale margin $402 $342 $279 $366 $380 $55 $90 $107 $124 $56 $457 $432 $386 $490 $436 2Q25 3Q25 4Q25 1Q26 2Q26 Purchase Refinance Highlights Mortgage Banking Segment (
Slide 17: Noninterest Expense
17 Noninterest Expense Legal and Professional fees 2% Salaries, Commissions and Employee Benefits 58% Data Processing 3% Occupancy and Equipment Expense 8% Amortization 2% Other Expense 24% Advertising 3% $81.3 $109.9 $107.5 $95.2 $91.5 $78.5 $93.5 $100.4 $93.7 $91.4 2Q25 3Q25 4Q25 1Q26 2Q26 NIE Adj
Slide 18: Loan Portfolio and Asset Quality
LOAN PORTFOLIO AND ASSET QUALITY
Slide 19: Loans HFI
19 Loans HFI $9.87 $12.30 $12.38 $12.50 $12.87 6.44% 6.75% 6.64% 6.51% 6.48% 2Q25 3Q25 4Q25 1Q26 2Q26 Loans HFI / Total Yield ($ 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 $12.9 Billion 1 C&I includes owner
Slide 20: Diversified Loan Portfolio
20 Diversified Loan Portfolio Office 17% Retail 19% Hotel 17% Warehouse/Industrial 22% Land-Manufactured Housing 4% Self Storage 5% Healthcare Facility 2% Assisted Living Facility 6% Other 8% Residential Development 33% Commercial 39% Consumer 21% Multifamily 7% Construction 25% Land 5% Lots 3% CRE2
Slide 21: Office Exposure
21 Office Exposure Nashville 40% Memphis 5% Knoxville 3% Huntsville 6% Birmingham 14% Chattanooga 1% Other 7% Atlanta 12% Communities 12% Class A 22% Class B 44% Class C 12% Under $2 Million 22% Geographic exposure Note: Data is only non-owner occupied CRE & C&D loans. Data excludes medical office b
Slide 22: C&D and CRE Loan Concentration
22 117% 111% 102% 91% 81% 76% 68% 67% 62% 64% 65% 66% 64% 64% 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 C&D and CRE Loan Concentration 1 Excludes owner-occupied CRE. C&D / Tier 1 Capital + ACL (%) CRE1 / Tier 1 Capital + ACL (%) 287% 274% 264% 259% 250% 243% 239% 239% 234
Slide 23: Asset Quality Metrics
23 $5,337 $34,417 $1,232 $3,024 $10,116 0.02% 0.05% 0.05% 0.11% 0.06% 2Q25 3Q25 4Q25 1Q26 2Q26 Provision for Credit Losses & Net Charge Offs ($ thousands) Provision for Credit Losses NCO Ratio (ann.) Asset Quality Metrics $148.9 $185.0 $186.0 $186.3 $194.0 1.51% 1.50% 1.50% 1.49% 1.51% 2Q25 3Q25 4Q2
Slide 24: Allowance Modeling & Reserve Allocation
24 1.51% 1.13% 1.20% 0.87% 2.14% 1.86% 1.82% 1.35% 3.10% 1.49% 1.14% 1.22% 1.00% 2.34% 1.45% 1.79% 1.37% 3.29% 1.51% 1.16% 1.39% 0.89% 2.37% 1.51% 1.77% 1.27% 3.29% Gross Loans HFI Commercial & Industrial Non-Owner Occ CRE Owner Occ CRE Construction Multifamily 1-4 Family Mortgage 1-4 Family HELOC C
Slide 25: History of Prudent Credit Management
25 History of Prudent Credit Management 1 Annual average of all FDIC-Insured Institutions, per FRED. 2 Data as of the three months ended 6/30/26, annualized. Note: Data bank level per Call Report filings for years 2006-2011. 0.10% 0.20% 0.99% 1.57% 1.85% 0.70% 0.14% 0.35% 0.04% 0.10% 0.07% (0.13%) 0
Slide 26: Funding, Liquidity & Capital
FUNDING, LIQUIDITY & CAPITAL
Slide 27: Valuable Deposit Base
27 Valuable Deposit Base Cost of deposits 19.2% 19.5% 18.9% 18.9% 19.3% 2.48% 2.53% 2.40% 2.27% 2.26% 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% 2Q25 3Q25 4Q25 1Q26 2Q26 Noninterest-bearing as % of total deposits Cost of total deposits (%) Deposits by cus
Slide 28: Liquidity Position
28 Cash and Cash Equivalents $1,112 Unpledged AFS Debt Securities $691 Equity Securities, at Fair Value $6 Unsecured Borrowing Capacity $4,013 FHLB Borrowing Capacity $2,106 Discount Window $2,138 2.43x Liquidity Coverage Ratio of Uninsured/Uncollateralized Deposits of $4.1 billion Liquidity Positio
Slide 29: Securities Portfolio Overview
29 U.S. Government Agency Securities 48% Residential MBS 39% Commercial MBS 1% Municipal Securities 12% U.S. Treasury Securities <1% Corporate Securities <1% Overview of the Securities Portfolio • Securities portfolio makes up 9% of total assets and does not include any HTM securities • Unrealized l
Slide 30: Capital Position
30 11.3% 10.6% 10.3% 10.4% 10.1% 2Q25 3Q25 4Q25 1Q26 2Q26 Capital Position 12.3% 11.7% 11.4% 11.5% 11.0% 2Q25 3Q25 4Q25 1Q26 2Q26 10.4% 10.1% 9.8% 9.9% 9.5% 2Q25 3Q25 4Q25 1Q26 2Q26 1 Non-GAAP financial measure; See "Use of non-GAAP Financial Measures" and Non-GAAP reconciliations herein. CET 1 Rati
Slide 31: Appendix
FB F iit Bank Appendix
Slide 32: Double Leverage & Interest Coverage
32 Double Leverage & Interest Coverage Note: Figures may not foot due to rounding. Fiscal Year Ended, Fiscal Quarter Ended, ($ in millions) 2022 2023 2024 2025 6/30/2026 Double Leverage Bank-Level Equity $1,332.8 $1,449.4 $1,527.3 $1,975.3 $1,969.3 Consolidated Equity 1,325.5 1,454.9 1,567.6 1,948.3
Slide 33: Outstanding Debt Summary
33 Outstanding Debt Summary Issuance Issuance Year Maturity Date Call Date Outstanding Debt ($000) Front-End Coupon Back-End Coupon February 2032 Subordinated Debt 2022 2/7/2032 3/30/2027 $47,500 Quarterly Fixed - 3.50% 3M SOFR + 205 bps October 2032 Subordinated Debt 2022 10/26/2032 12/30/2027 $40,
Slide 34: GAAP Reconciliations: Adjusted Net Income and Diluted EPS
34 GAAP Reconciliations and Use of Non-GAAP Financial Measures Adjusted net income and diluted earnings per share Year-to -D ate (dollars in thousands, except for share data) Jun 2026 M ar 2026 D ec 2025 Sep 2025 Jun 2025 YT D 2026 2025 2024 2023 2022 Inco me befo re inco me taxes $ 73,156 $ 74,152
Slide 35: Adjusted Tangible Net Income
35 Adjusted tangible net income Year-to -D ate (dollars in thousands) Jun 2026 M ar 2026 D ec 2025 Sep 2025 Jun 2025 YT D 2026 2025 2024 2023 2022 Inco me befo re inco me taxes $ 73,156 $ 74,152 $ 69,819 $ 29,602 $ (9,735) $ 147,308 $ 138,518 $ 146,670 $ 150,292 $ 159,574 Plus amortization of core d
Slide 36: Adjusted Efficiency Ratio (Tax-Equivalent Basis)
36 Adjusted efficiency ratio (tax-equivalent basis) Year-to -D ate (dollars in thousands) Jun 2026 M ar 2026 D ec 2025 Sep 2025 Jun 2025 YT D 2026 2025 2024 2023 2022 Total noninterest expense $ 91,480 $ 95,164 $ 107,548 $ 109,856 $ 81,261 $ 186,644 $ 378,214 $ 296,899 $ 324,929 $ 348,346 Less early
Slide 37: Mortgage Segment Adjusted Efficiency Ratio
37 Mortgage segment adjusted efficiency ratio (tax-equivalent basis) (dollars in thousands) Jun 2026 Mar 2026 Dec 2025 Sep 2025 Jun 2025 Mortgage segment noninterest expense $ 12,361 $ 13,588 $ 13,992 $ 12,887 $ 13,931 Mortgage segment adjusted noninterest expense $ 12,361 $ 13,588 $ 13,992 $ 12,887
Slide 38: Tangible Assets, Common Equity and Related Measures
38 Tangible assets, common equity and related measures (dollars in thousands, except share data) Jun 2026 M ar 2026 D ec 2025 Sep 2025 Jun 2025 2025 2024 2023 2022 T angible assets Total assets $ 16,796,101 $ 16,468,439 $ 16,300,292 $ 16,236,459 $ 13,354,238 $ 16,300,292 $ 13,157,482 $ 12,604,403 $
Slide 39: Adjusted Return on Average Tangible Common Equity
39 Adjusted return on average tangible common equity and related measures Year-to -D ate (dollars in thousands) Jun 2026 M ar 2026 D ec 2025 Sep 2025 Jun 2025 YT D 2026 2025 2024 2023 2022 Average common shareholders' equity $ 1,987,199 $ 1,965,877 $ 1,956,633 $ 1,977,785 $ 1,583,099 $ 1,976,597 $ 1
Slide 40: Adjusted Return on Average Assets, Common Equity
40 Adjusted return on average assets, common equity and related measures Year-to -D ate (dollars in thousands) Jun 2026 M ar 2026 D ec 2025 Sep 2025 Jun 2025 YT D 2026 2025 2024 2023 2022 Net income $ 58,649 $ 57,526 $ 56,977 $ 23,375 $ 2,909 $ 116,175 $ 122,622 $ 116,035 $ 120,224 $ 124,555 Average
FB Financial — Debt Investor Presentation (September 2026) on 6ix