FB Financial Corporation reported significant financial growth in its latest quarterly results, with net income reaching $58.6 million for the three months ended June 30, 2026, compared to just $2.9 million for the same period in 2025. This translates to diluted earnings per share of $1.13, a substantial increase from $0.06 in the prior year. The company's return on average assets (ROAA) improved to 1.44% from 0.09%, while return on average common equity (ROAE) rose to 11.8% from 0.74%. For the six months ended June 30, 2026, net income was $116.2 million, up from $42.3 million in 2025, with diluted earnings per share increasing to $2.24 from $0.91.

The company's total interest income for the second quarter of 2026 was $229.4 million, up from $182.1 million in the same quarter of 2025, driven by a rise in average interest-earning assets, particularly loans held for investment (HFI). Net interest income also saw a notable increase, reaching $149.0 million compared to $111.4 million a year earlier. The net interest margin improved to 3.95% from 3.68%, reflecting the benefits of the Southern States Bancshares merger and continued loan growth. However, the provision for credit losses increased to $10.1 million from $5.3 million, primarily due to loan growth and increased reserves on individually evaluated loans.

FB Financial's noninterest income for the second quarter of 2026 was $25.8 million, a significant recovery from a loss of $34.6 million in the prior year, which was impacted by a $60.5 million net loss on investment securities. The increase in noninterest income was attributed to improved performance across various categories, including mortgage banking income, which totaled $11.2 million, down from $13.0 million in the previous year. Noninterest expenses rose to $91.5 million, up from $81.3 million, largely due to increased salaries and benefits following the merger.

As of June 30, 2026, FB Financial's total assets increased to $16.8 billion from $16.3 billion at the end of 2025, with loans HFI growing to $12.9 billion from $12.4 billion. The company also reported a total deposit increase to $14.35 billion, up from $13.91 billion, with noninterest-bearing deposits rising to $2.78 billion. The allowance for credit losses on loans HFI was $194.0 million, representing 1.51% of total loans HFI, slightly up from 1.50% at the end of 2025.

Looking ahead, FB Financial remains optimistic about its growth trajectory, bolstered by the Southern States merger and ongoing loan growth. The company is focused on maintaining its capital adequacy, with total capital ratios well above regulatory requirements. Management continues to monitor economic conditions and interest rate fluctuations, which could impact future performance. The company is also committed to enhancing its operational efficiency and managing credit risk effectively as it navigates the evolving financial landscape.

About FB Financial Corp

FB Financial Corporation is a Tennessee-based bank holding company operating FirstBank, which provides commercial and consumer banking services across the southeastern U.S. The company focuses on community banking with personalized, relationship-driven service, offering loans, deposits, mortgage, treasury, and wealth management products. Its business model emphasizes local decision-making, strategic growth through organic expansion and acquisitions, and risk management to serve diverse markets and customer segments.

This description was generated via AI from an annual report. Updated about 1 year ago.

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