10-Q · May 4, 2026
FB Financial Corporation reported strong first quarter results for 2026, with net income rising to $57.5 million, reflecting an increase in net interest income and improved net interest margins. The company's loan…
Earnings analysis · 10-Q
FBK earnings analysis
Filed August 3, 2026 · Our reading of the company's report
The latest report
FB Financial reported strong Q2 profitability, with $174.752 million of revenue, $58.649 million of net income, and $1.14 of basic EPS, versus $76.863 million, $2.909 million, and $0.06, respectively, a year earlier.…
Read full summary
FB Financial reported strong Q2 profitability, with $174.752 million of revenue, $58.649 million of net income, and $1.14 of basic EPS, versus $76.863 million, $2.909 million, and $0.06, respectively, a year earlier. Growth in net interest income and a 27-basis-point NIM expansion were supported by the Southern States acquisition, loan growth, and lower deposit costs, though the year-over-year revenue comparison also reflects the absence of a $60.549 million securities loss in Q2 2025. The principal counterweight is weakening credit quality: nonperforming loans increased to $150.183 million and Q2 credit provisions reached $10.116 million. No numeric formal outlook was provided in the 10-Q.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
Where revenue came from
The business segments reported by the company.
Shares of the segments disclosed in this filing, largest first.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $1.14
What stood out
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Revenue increased to $174.8 million
Reported total revenue was $174.752 million, up from $76.863 million a year earlier and $172.340 million in Q1 2026 (derived from six-month revenue of $347.092 million). The year-over-year comparison benefits materially from the absence of the prior-year $60.549 million securities loss.
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Earnings rebounded sharply year over year
Basic EPS rose to $1.14 from $0.06 in Q2 2025, while diluted EPS increased to $1.13 from $0.06. Net income attributable to FB Financial was $58.649 million versus $2.909 million, and ROAA improved to 1.44% from 0.09%.
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NII and NIM expanded
Tax-equivalent net interest income increased $37.552 million year over year to $149.788 million, while NIM expanded 27 basis points to 3.95%. Management attributed the improvement to Southern States-related earning-asset growth, continued loan growth, and lower funding costs.
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Banking segment drove profitability
The Banking segment generated $71.577 million of pretax income, compared with a $6.723 million pretax loss a year ago. Banking net interest income grew to $145.432 million from $108.909 million.
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Loan and deposit growth supported NII
Total deposits grew $437.205 million from year-end to $14.347 billion, and loans held for investment increased $481.884 million to $12.866 billion. Deposit costs declined, with the average cost of total deposits falling to 2.26% from 2.49% at December 31, 2025.
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Operating cash flow nearly doubled
Six-month operating cash flow increased to $106.508 million from $55.324 million; premises and equipment purchases were $3.401 million, or about 3.2% of operating cash flow. Cash and equivalents ended at $1.112 billion, versus $1.156 billion at year-end.
What to watch
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Asset quality deteriorated in CRE and C&I
Nonperforming loans held for investment increased $29.711 million from year-end to $150.183 million, lifting the nonperforming-loan ratio to 1.17% from 0.97%. Management cited one significant relationship migrating to nonperforming status in each of commercial real estate and commercial-and-industrial portfolios.
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Credit provisioning increased
Provision for credit losses was $10.116 million in Q2 2026, versus $5.337 million in Q2 2025; the provision on loans held for investment was $9.655 million versus a $1.102 million reversal. Management cited loan growth and increased reserves on individually evaluated loans.
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Mortgage margins and income declined
Mortgage banking income declined $1.859 million year over year to $11.170 million. Mortgage sale margin fell to 2.49% from 2.86%, and servicing income declined to $6.494 million from $6.936 million.
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Funding mix shifted toward time deposits
Customer time deposits rose $591.362 million from year-end to $2.620 billion, including a $400.0 million short-term public-funds time deposit. Borrowings increased to $314.513 million from $212.764 million, including $125.0 million of FHLB advances at quarter-end.
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No risk-factor update; securities losses widened
The filing states there were no material changes to risk factors from the 2025 Form 10-K. Nonetheless, AFS securities carried $53.361 million of gross unrealized losses at June 30, 2026, up from $49.667 million at year-end.
Management's outlook
The 10-Q provides no formal quantitative revenue or EPS guidance. Management states that current and forecast economic conditions, including global conflicts or tariffs, may create volatility in the allowance for credit losses; it also states that $125.0 million of overnight FHLB advances outstanding at June 30, 2026 were subsequently repaid in full.
Earlier filings 4
10-K · February 26, 2026
FB Financial (FBK) describes a relationship-driven community/regional banking strategy focused on organic penetration in metropolitan and community markets, opportunistic M&A, and technology-enabled scaling. The 2025…
10-Q · August 4, 2025
FB Financial reported a sharply weaker quarter driven by a $60.5M investment securities loss and lower noninterest income, producing total net revenues of $71,526,000 for Q2 2025 versus $125,999,000 in Q2 2024. Diluted…
10-Q · May 5, 2025
FB Financial Corporation reported a solid performance for Q1 2025 with net income rising to $39.4 million, up 41.1% compared to $28.0 million in Q1 2024. Although total revenue decreased to $203 million from $208…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.