FB Financial Corp

Listed Company

FBKCIK 0001649749NYSELarge AcceleratedState Commercial BanksTennesseeFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$122.62M

Total Assets

$16.30B

Equity

$1.95B

Shares Out

51.76M

Op. Cash Flow

$155.86M

Business

FB Financial Corp is a bank holding company that owns and operates a state‑chartered banking subsidiary delivering commercial and consumer banking services. The company offers deposit accounts, commercial and consumer loans, mortgage banking, treasury management, trust and investment services, and capital markets capabilities. Its operations are organized around its banking subsidiary, mortgage banking operations and fee‑based service lines, supported by centralized risk management and technology. FB Financial distributes services through a network of full‑service branches, limited service locations, mortgage offices, ATMs and digital channels across the southeastern United States.

Summary from filing dated 2025-02-25

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Interest and fees on loans	732	626	599	436	359
Taxable	58	50	27	25	15
Tax-exempt	4	5	7	7	8
Other	40	44	45	12	3
Total interest income	834	726	678	481	385
Deposits	309	296	259	57	30
Borrowings	9	13	12	13	7
Total interest expense	318	309	271	69	—
Net interest income	516	417	407	412	347
Provision for credit losses on loans HFI	33	15	17	10	−39
Provision for (reversal of) credit losses on unfunded commitments	10	−3	−14	9	−2
Net interest income after provision for credit losses	473	404	405	393	388
Loss from investment securities, net	−60	−56	−14	−376,000	324,000
Loss on sales or write-downs of premises and equipment, other real estate owned and other assets, net	−1	−2	−27,000	−265,000	3
Other income	10	12	6	5	19
Total noninterest income	44	39	71	115	228
Salaries, commissions and employee benefits	218	184	203	211	248
Occupancy and equipment expense	28	26	28	24	23
Merger and integration costs	24	0	0	0	0
Data processing	10	10	9	9	10
Advertising	10	7	8	11	14
Legal and professional fees	8	8	9	15	9
Amortization of core deposit and other intangibles	5	3	4	5	5
Other expense	76	60	63	61	64
Total noninterest expense	378	297	325	348	374
Income before income taxes	139	147	150	160	243
Income tax expense	16	31	30	35	53
Net income applicable to FB Financial Corporation and noncontrolling interest	123	116	120	125	190
Net income applicable to noncontrolling interest	16,000	16,000	16,000	16,000	16,000
Net income applicable to FB Financial Corporation	123	116	120	125	190
Basic (in dollars per share)	2.47	2.48	2.57	2.64	4.01
Diluted (in dollars per share)	2.45	2.48	2.57	2.64	3.97

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and due from banks	196	120	147	260	91
Federal funds sold and reverse repurchase agreements	213	126	83	211	128
Interest-bearing deposits in financial institutions	746	797	581	557	1,578
Cash and cash equivalents	1,156	1,042	811	1,027	1,798
Available-for-sale debt securities, at fair value	1,460	1,538	1,472	1,471	1,679
Equity securities, at fair value	155,000	0	0	3	3
Restricted equity securities, at cost	79	33	—	—	—
Loans held for sale (includes $172,974 and $95,403 at fair value, respectively)	201	127	68	139	752
Loans held for investment	12,384	9,602	9,409	9,298	7,605
Less: allowance for credit losses on loans HFI	186	152	150	134	126
Net loans held for investment	12,198	9,450	9,258	9,164	7,479
Premises and equipment, net	182	149	156	146	144
Operating lease right-of-use assets	49	48	54	60	42
Interest receivable	59	50	53	46	39
Mortgage servicing rights, at fair value	149	162	164	168	116
Bank-owned life insurance	112	73	76	75	74
Other real estate owned, net	6	4	3	6	10
Goodwill	350	243	243	243	243
Core deposit and other intangibles, net	31	6	9	12	17
Other assets	268	233	203	228	172
Total assets	16,300	13,157	12,604	12,848	12,598
Noninterest-bearing	2,634	2,116	2,218	2,677	2,740
Interest-bearing checking	2,651	2,906	2,504	3,060	3,419
Money market and savings	5,970	4,338	4,205	3,697	3,547
Customer time deposits	2,029	1,380	1,470	1,420	1,104
Brokered and internet time deposits	626	469	151	2	27
Total deposits	13,910	11,210	10,548	10,856	10,837
Borrowings	213	177	391	416	172
Operating lease liabilities	61	60	68	70	46
Accrued expenses and other liabilities	169	143	143	181	110
Total liabilities	14,352	11,590	11,150	11,522	11,165
Common stock, $1 par value per share; 75,000,000 shares authorized; 51,752,401 and 46,663,120 shares issued and outstanding, respectively	52	47	47	47	48
Additional paid-in capital	1,082	860	864	862	893
Retained earnings	847	762	678	587	487
Accumulated other comprehensive loss, net	−33	−102	−135	−169	6
Total FB Financial Corporation common shareholders equity	1,948	1,568	1,455	1,325	1,433
Noncontrolling interest	93,000	93,000	93,000	93,000	93,000
Total equity	1,948	1,568	1,455	1,326	1,433
Total liabilities and shareholders equity	16,300	13,157	12,604	12,848	12,598

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization of fixed assets and software	12	12	11	8	8
Amortization of core deposit and other intangibles	5	3	4	5	5
Amortization of subordinated debt issuance costs and fair value premium, net	888,000	386,000	387,000	387,000	17,000
Capitalization of mortgage servicing rights	−4	−5	−7	−21	−39
Net change in fair value of mortgage servicing rights	17	7	11	−32	4
Stock-based compensation expense	17	9	10	10	10
Provision for (reversal of) mortgage loan repurchases	186,000	235,000	−650,000	−3	—
Accretion of discounts and premiums on acquired loans, net	−13	−657,000	−694,000	1	853,000
(Accretion) amortization of premiums and discounts on securities, net	−3	2	6	7	9
Originations of loans held for sale	−1,380	−1,223	−1,199	−2,403	−6,301
Proceeds from sale of loans held for sale	1,336	1,207	1,277	3,067	6,387
Gain on sale and change in fair value of loans held for sale	−39	−34	−29	−48	−162
Reversal of deferred income taxes	−5	−2	−1	13	31
Equity method investment loss	2	0	0	—	—
Earnings on bank-owned life insurance	−3	−4	−2	−1	−2
Operating lease assets and liabilities, net	−754,000	−1	4	5	−969,000
Other assets and interest receivable	−12	−28	7	−7	59
Accrued expenses and other liabilities	−2	8	−16	56	−100
Net cash provided by operating activities	156	139	211	800	55
Sales	267	526	100	1	9
Maturities, prepayments and calls	301	300	128	205	296
Purchases	−421	−905	−202	−243	−847
Proceeds from sales of equity securities	3	0	3	0	0
Net change in loans	−515	−212	−97	−1,676	−310
Net redemptions of FHLB stock	2	1	24	0	4
Purchases of Federal Reserve stock	−45	0	0	—	—
Purchases of premises and equipment	−9	−7	−20	−11	−6
Proceeds from the sale of premises and equipment	2	1	123,000	875,000	0
Proceeds from the sale of other real estate owned	6	2	6	5	9
Purchase of equity method securities	0	−10	0	0	—
Proceeds from the sale of other assets	3	1	2	0	0
Proceeds from bank-owned life insurance	4	7	236,000	0	0
Net cash acquired in business combinations	370	0	0	0	0
Net cash used in investing activities	−32	−294	−55	−1,754	−850
Net increase (decrease) in deposits	231	658	−313	29	1,379
Net increase (decrease) in securities sold under agreements to repurchase and federal funds purchased	86	−95	22	46	9
Bank Term Funding Program (repayments) advances	0	−130	0	0	—
Bank Term Funding Program (repayments) advances	—	—	130	—	—
Net decrease in short-term FHLB advances	0	0	−175	—	—
Redemptions on subordinated debt	−131	0	0	0	−60
Stock-based compensation withholding payments	−3	−2	−3	−3	−10
Net proceeds from sale of common stock under employee stock purchase program	897,000	882,000	723,000	1	1
Repurchase of common stock	−156	−13	−5	−40	−8
Dividends paid on common stock	−38	−32	−28	−25	−21
Dividend equivalent payments made upon vesting of equity compensation	−336,000	−166,000	−226,000	−168,000	−717,000
Noncontrolling interest distribution	−16,000	−16,000	−16,000	−16,000	−16,000
Net cash (used in) provided by financing activities	−10	387	−372	184	1,275
Net change in cash and cash equivalents	113	232	−216	−771	480
Interest paid	320	304	261	64	41
Taxes paid, net of refunds	21	43	38	906,000	62
Transfers from loans HFI to other real estate owned	8	3	3	1	5
Transfers from loans HFI to other assets	6	4	3	0	0
Transfers from other real estate owned to other assets	0	0	75,000	0	0
Transfers from loans HFI to loans held for sale	5	1	14	46	10
Transfers from loans held for sale to loans HFI	11	2	3	24	86
Loans HFI provided for sales of other assets	1	1	911,000	0	0
(Decrease) increase in rebooked GNMA loans under optional repurchase program	−3	10	−5	26	0
Stock consideration paid in business combination	368	0	0	—	—
Right-of-use assets obtained in exchange for operating lease liabilities	6	6	7	25	970,000

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