# EDGAR Filing Document

**Accession Number:** 0001649749
**File Stem:** 0001649749-26-000040
**Filing Date:** 2026-5
**Character Count:** 472095
**Document Hash:** 77f3c5d2c1c9b30e2f1250f6748110ae
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001649749-26-000040.hdr.sgml**: 20260504

**ACCESSION NUMBER**: 0001649749-26-000040

**CONFORMED SUBMISSION TYPE**: 10-Q

**PUBLIC DOCUMENT COUNT**: 118

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260504

**DATE AS OF CHANGE**: 20260504

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FB Financial Corp
- **CENTRAL INDEX KEY:** 0001649749
- **STANDARD INDUSTRIAL CLASSIFICATION:** STATE COMMERCIAL BANKS [6022]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 621216058
- **STATE OF INCORPORATION:** TN
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 10-Q
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-37875
- **FILM NUMBER:** 26935728

**BUSINESS ADDRESS:**
- **STREET 1:** 1221 BROADWAY
- **STREET 2:** SUITE 1300
- **CITY:** NASHVILLE
- **STATE:** TN
- **ZIP:** 37203
- **BUSINESS PHONE:** 615-313-0080

**MAIL ADDRESS:**
- **STREET 1:** 1221 BROADWAY
- **STREET 2:** SUITE 1300
- **CITY:** NASHVILLE
- **STATE:** TN
- **ZIP:** 37203

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** First South Bancorp, Inc.
- **DATE OF NAME CHANGE:** 20150731

?xml version='1.0' encoding='ASCII'? fbk-20260331

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

______________________________________________________________

**FORM 10-Q**

______________________________________________________________

**(Mark One)**

☒ **QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**

**For the quarterly period ended March 31, 2026** 

**OR**

☐ **TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**

For the transition period from ________ to ________

**Commission File Number 001-37875**

_____________________________________________________________

**FB FINANCIAL CORPORATION**

**(Exact name of registrant as specified in its charter)**

______________________________________________________________

---

| | |
|:---|:---|
| **Tennessee** | **62-1216058** |
| **(State or other jurisdiction of<br>incorporation or organization)** | **(I.R.S. Employer<br>Identification No.)** |
| **1221 Broadway, Suite 1300<br>Nashville, Tennessee** | **37203** |
| **(Address of principal executive offices)** | **(Zip Code)** |

---

**Registrant's telephone number, including area code: (615) 564-1212**

___________________________________________________________

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **<u>Title of each class</u>** | **<u>Trading Symbol(s)</u>** | **<u>Name of each exchange on which registered</u>** |
| Common Stock, Par Value $1.00 Per Share | FBK | New York Stock Exchange |

---

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

---

| | | | |
|:---|:---|:---|:---|
| Large accelerated filer | ☒ | Accelerated filer | ☐ |
| Non-accelerated filer | ☐ | Small reporting company | ☐ |
| Emerging growth company | ☐ | | |

---

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

The number of shares of registrant's Common Stock outstanding as of April 30, 2026 was 51,523,462.

------

**Table of Contents**

---

| | | |
|:---|:---|:---|
| | | **Page** |
| **PART I.** | <u>[FINANCIAL INFORMATION](#i018becd53dcd4da7a3f9595d5b37c1c6_337)</u> |  |
|  | <u>[Glossary Of Abbreviations And Acronyms](#i018becd53dcd4da7a3f9595d5b37c1c6_10)</u> | [3](#i018becd53dcd4da7a3f9595d5b37c1c6_10) |
| Item 1. | <u>[Consolidated Financial Statements](#i018becd53dcd4da7a3f9595d5b37c1c6_115)</u> | [4](#i018becd53dcd4da7a3f9595d5b37c1c6_115) |
|  | <u>[Consolidated Balance Sheets as of](#i018becd53dcd4da7a3f9595d5b37c1c6_115)[March 31, 2026](#i018becd53dcd4da7a3f9595d5b37c1c6_115)[(Unaudited) and December 31, 202](#i018becd53dcd4da7a3f9595d5b37c1c6_115)[5](#i018becd53dcd4da7a3f9595d5b37c1c6_115)</u> | [4](#i018becd53dcd4da7a3f9595d5b37c1c6_115) |
|  | <u>[Consolidated Statements of Income (Unaudited) for the three](#i018becd53dcd4da7a3f9595d5b37c1c6_118)[months ended](#i018becd53dcd4da7a3f9595d5b37c1c6_118)[March 31](#i018becd53dcd4da7a3f9595d5b37c1c6_118)[, 202](#i018becd53dcd4da7a3f9595d5b37c1c6_118)[6](#i018becd53dcd4da7a3f9595d5b37c1c6_118)[and 202](#i018becd53dcd4da7a3f9595d5b37c1c6_118)[5](#i018becd53dcd4da7a3f9595d5b37c1c6_118)</u> | [5](#i018becd53dcd4da7a3f9595d5b37c1c6_118) |
|  | <u>[Consolidated Statements of Comprehensive Income (Unaudited) for the three](#i018becd53dcd4da7a3f9595d5b37c1c6_121)[months ended](#i018becd53dcd4da7a3f9595d5b37c1c6_121)[March 31](#i018becd53dcd4da7a3f9595d5b37c1c6_121)[, 202](#i018becd53dcd4da7a3f9595d5b37c1c6_121)[6](#i018becd53dcd4da7a3f9595d5b37c1c6_121)[and 202](#i018becd53dcd4da7a3f9595d5b37c1c6_121)[5](#i018becd53dcd4da7a3f9595d5b37c1c6_121)</u> | [6](#i018becd53dcd4da7a3f9595d5b37c1c6_121) |
|  | <u>[Consolidated Statements of Changes in Shareholders' Equity (Unaudited) for the three](#i018becd53dcd4da7a3f9595d5b37c1c6_124)[months ended](#i018becd53dcd4da7a3f9595d5b37c1c6_124)[March 31, 202](#i018becd53dcd4da7a3f9595d5b37c1c6_115)[6](#i018becd53dcd4da7a3f9595d5b37c1c6_115)[and 202](#i018becd53dcd4da7a3f9595d5b37c1c6_115)[5](#i018becd53dcd4da7a3f9595d5b37c1c6_115)</u> | [7](#i018becd53dcd4da7a3f9595d5b37c1c6_124) |
|  | <u>[Consolidated Statements of Cash Flows (Unaudited) for the three](#i018becd53dcd4da7a3f9595d5b37c1c6_127)[months ended](#i018becd53dcd4da7a3f9595d5b37c1c6_127)[March 31](#i018becd53dcd4da7a3f9595d5b37c1c6_127)[, 202](#i018becd53dcd4da7a3f9595d5b37c1c6_127)[6](#i018becd53dcd4da7a3f9595d5b37c1c6_127)[and 202](#i018becd53dcd4da7a3f9595d5b37c1c6_127)[5](#i018becd53dcd4da7a3f9595d5b37c1c6_127)</u> | [8](#i018becd53dcd4da7a3f9595d5b37c1c6_127) |
|  | <u>[Condensed Notes to Consolidated Financial Statements (Unaudited)](#i018becd53dcd4da7a3f9595d5b37c1c6_130)</u> | [10](#i018becd53dcd4da7a3f9595d5b37c1c6_130) |
| Item 2. | <u>[Management's Discussion and Analysis of Financial Condition and Results of Operation](#i018becd53dcd4da7a3f9595d5b37c1c6_352)</u> | [47](#i018becd53dcd4da7a3f9595d5b37c1c6_352) |
| Item 3. | <u>[Quantitative and Qualitative Disclosures About Market Risk](#i018becd53dcd4da7a3f9595d5b37c1c6_103)</u> | [80](#i018becd53dcd4da7a3f9595d5b37c1c6_103) |
| Item 4. | <u>[Controls and Procedures](#i018becd53dcd4da7a3f9595d5b37c1c6_343)</u> | [82](#i018becd53dcd4da7a3f9595d5b37c1c6_343) |
| **PART II.** | <u>[OTHER INFORMATION](#i018becd53dcd4da7a3f9595d5b37c1c6_40)</u> |  |
| Item 1. | <u>[Legal Proceedings](#i018becd53dcd4da7a3f9595d5b37c1c6_304)</u> | [83](#i018becd53dcd4da7a3f9595d5b37c1c6_304) |
| Item 1A. | <u>[Risk Factors](#i018becd53dcd4da7a3f9595d5b37c1c6_307)</u> | [83](#i018becd53dcd4da7a3f9595d5b37c1c6_307) |
| Item 2. | <u>[Unregistered Sales of Equity Securities and Use of Proceeds](#i018becd53dcd4da7a3f9595d5b37c1c6_310)</u> | [83](#i018becd53dcd4da7a3f9595d5b37c1c6_310) |
| Item 5. | <u>[Other Information](#i018becd53dcd4da7a3f9595d5b37c1c6_313)</u> | [83](#i018becd53dcd4da7a3f9595d5b37c1c6_313) |
| Item 6. | <u>[Exhibits](#i018becd53dcd4da7a3f9595d5b37c1c6_340)</u> | [84](#i018becd53dcd4da7a3f9595d5b37c1c6_340) |
| <u>[SIGNATURES](#i018becd53dcd4da7a3f9595d5b37c1c6_253)</u> | <u>[SIGNATURES](#i018becd53dcd4da7a3f9595d5b37c1c6_253)</u> | [85](#i018becd53dcd4da7a3f9595d5b37c1c6_253) |

---

------

**PART I**

GLOSSARY OF ABBREVIATIONS AND ACRONYMS

As used in this Quarterly Report on Form 10-Q for the quarter ended March 31, 2026 (this "Report"), references to "we," "our," "us," "FB Financial," or "the Company" refer to FB Financial Corporation, a Tennessee corporation, and our wholly-owned banking subsidiary, FirstBank, a Tennessee state-chartered bank, unless otherwise indicated or the context otherwise requires. References to "Bank" or "FirstBank" refer to FirstBank, our wholly-owned banking subsidiary.

The acronyms and abbreviations identified below are used in the Notes to the consolidated financial statements as well as in the Management's discussion and analysis of financial condition and results of operations. You may find it helpful to refer to this page as you read this Report.

---

| | | | |
|:---|:---|:---|:---|
| ACL | Allowance for credit losses | GAAP | U.S. generally accepted accounting principles |
| AFS | Available-for-sale | GNMA | Government National Mortgage Association |
| ALCO | Asset Liability Management Committee | HFI | Held for investment |
| ASC | Accounting Standard Codification | NIM | Net interest margin |
| ASU | Accounting Standard Update | OREO | Other real estate owned |
| Bank | FirstBank, subsidiary bank | PCD | Purchased credit-deteriorated |
| BOLI | Bank-owned life insurance | PSU | Performance-based restricted stock units |
| CECL | Current expected credit losses | Report | Form 10-Q for the quarterly period ended March 31, 2026 |
| Company | FB Financial Corporation | ROAA | Return on average assets |
| CPR | Conditional prepayment rate | ROAE | Return on average common equity |
| ESPP | Employee Stock Purchase Plan | ROATCE | Return on average tangible common equity |
| EVE | Economic value of equity | RSU | Restricted stock units |
| FASB | Financial Accounting Standards Board | SEC | U.S. Securities and Exchange Commission |
| FDIC | Federal Deposit Insurance Corporation | SOFR | Secured overnight financing rate |
| FDM | Financial difficulty modification | Southern States | Southern States Bancshares, Inc. |
| Federal Reserve | Board of Governors of the Federal Reserve System | TDFI | Tennessee Department of Financial Institutions |
| FHLB | Federal Home Loan Bank |  |  |

---

------

**FB Financial Corporation and subsidiaries**

**Consolidated balance sheets** 

**(Amounts are in thousands except share and per share amounts)** 

---

| | | |
|:---|:---|:---|
| | **March 31,** | **December 31,** |
| | **2026 (Unaudited)** | **2025** |
| **ASSETS** |  |  |
| Cash and due from banks | $159883 | $196213 |
| Federal funds sold and reverse repurchase agreements | 199009 | 213391 |
| Interest-bearing deposits in financial institutions | 798871 | 746291 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | 1157763 | 1155895 |
| Investments: |  |  |
| &nbsp;&nbsp;&nbsp;Available-for-sale debt securities, at fair value | 1498547 | 1459579 |
| &nbsp;&nbsp;&nbsp;Equity securities, at fair value |  | 155 |
| &nbsp;&nbsp;&nbsp;Restricted equity securities, at cost | 79458 | 79046 |
| Loans held for sale (includes $198,769 and $172,974 at fair value, respectively) | 231359 | 201076 |
| Loans held for investment | 12503815 | 12383626 |
| &nbsp;&nbsp;&nbsp;Less: allowance for credit losses on loans HFI | 186324 | 185983 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net loans held for investment | 12317491 | 12197643 |
| Premises and equipment, net | 181268 | 182370 |
| Operating lease right-of-use assets | 48223 | 49249 |
| Interest receivable | 59837 | 58565 |
| Mortgage servicing rights, at fair value | 147344 | 148795 |
| Bank-owned life insurance | 110484 | 111865 |
| Other real estate owned, net | 6449 | 6009 |
| Goodwill | 350353 | 350353 |
| Core deposit and other intangibles, net | 29415 | 31284 |
| Other assets | 250448 | 268408 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $16468439 | $16300292 |
| **LIABILITIES** |  |  |
| Deposits |  |  |
| &nbsp;&nbsp;Noninterest-bearing | $2664480 | $2634395 |
| &nbsp;&nbsp;Interest-bearing checking | 2642713 | 2651369 |
| &nbsp;&nbsp;Money market and savings | 5886370 | 5969640 |
| &nbsp;&nbsp;Customer time deposits | 2309056 | 2028923 |
| &nbsp;&nbsp;Brokered and internet time deposits | 574216 | 625634 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total deposits | 14076835 | 13909961 |
| Borrowings | 213188 | 212764 |
| Operating lease liabilities | 59106 | 60556 |
| Accrued expenses and other liabilities | 145344 | 168753 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 14494473 | 14352034 |
| **SHAREHOLDERS' EQUITY** |  |  |
| Common stock, $1 par value per share; 75,000,000 shares authorized;<br>&nbsp;&nbsp;&nbsp;&nbsp;51,418,024 and 51,752,401 shares issued and outstanding, respectively | 51418 | 51752 |
| Additional paid-in capital | 1064619 | 1082344 |
| Retained earnings | 893095 | 846620 |
| Accumulated other comprehensive loss, net | (35259) | (32551) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total FB Financial Corporation common shareholders' equity | 1973873 | 1948165 |
| Noncontrolling interest | 93 | 93 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total equity | 1973966 | 1948258 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and shareholders' equity | $16468439 | $16300292 |

---

*See the accompanying notes to the consolidated financial statements.*

------

**FB Financial Corporation and subsidiaries**

**Consolidated statements of income**

**(Amounts are in thousands, except per share amounts)**

**(Unaudited)**

---

| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2026** | **2025** |
| Interest income: |  |  |
| &nbsp;&nbsp;&nbsp;Interest and fees on loans | $201257 | $153185 |
| &nbsp;&nbsp;&nbsp;Interest on investment securities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taxable | 13575 | 14471 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tax-exempt | 1054 | 1033 |
| &nbsp;&nbsp;&nbsp;Other | 9464 | 11017 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest income | 225350 | 179706 |
| Interest expense: |  |  |
| &nbsp;&nbsp;&nbsp;Deposits | 77878 | 70249 |
| &nbsp;&nbsp;&nbsp;Borrowings | 1507 | 1816 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest expense | 79385 | 72065 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net interest income | 145965 | 107641 |
| Provision for credit losses on loans HFI | 3822 | 1906 |
| (Reversal of) provision for credit losses on unfunded commitments | (798) | 386 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net interest income after provision for credit losses | 142941 | 105349 |
| Noninterest income: |  |  |
| &nbsp;&nbsp;&nbsp;Mortgage banking income | 12253 | 12426 |
| &nbsp;&nbsp;&nbsp;Service charges on deposit accounts | 4376 | 3479 |
| &nbsp;&nbsp;&nbsp;Investment services and trust income | 4348 | 3711 |
| &nbsp;&nbsp;&nbsp;ATM and interchange fees | 2977 | 2677 |
| &nbsp;&nbsp;&nbsp;Gain from investment securities, net | 1 | 16 |
| &nbsp;&nbsp;&nbsp;Loss on sales or write-downs of premises and equipment, other real estate owned and other assets, net | (320) | (625) |
| &nbsp;&nbsp;&nbsp;Other income | 2740 | 1348 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total noninterest income | 26375 | 23032 |
| Noninterest expenses: |  |  |
| &nbsp;&nbsp;&nbsp;Salaries, commissions and employee benefits | 57348 | 48351 |
| &nbsp;&nbsp;&nbsp;Occupancy and equipment expense | 7476 | 6597 |
| &nbsp;&nbsp;&nbsp;Data processing | 2454 | 2313 |
| &nbsp;&nbsp;&nbsp;Advertising | 2148 | 2487 |
| &nbsp;&nbsp;&nbsp;Legal and professional fees | 1980 | 1992 |
| &nbsp;&nbsp;&nbsp;Amortization of core deposit and other intangibles | 1869 | 656 |
| &nbsp;&nbsp;&nbsp;Merger and integration costs | 1447 | 401 |
| &nbsp;&nbsp;&nbsp;Other expense | 20442 | 16752 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total noninterest expense | 95164 | 79549 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income before income taxes | 74152 | 48832 |
| &nbsp;&nbsp;&nbsp;Income tax expense | 16626 | 9471 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net income applicable to FB Financial Corporation and noncontrolling interest | 57526 | 39361 |
| &nbsp;&nbsp;&nbsp;Net income applicable to noncontrolling interest |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net income applicable to FB Financial Corporation | $57526 | $39361 |
| Earnings per common share: |  |  |
| &nbsp;&nbsp;&nbsp;Basic | $1.11 | $0.84 |
| &nbsp;&nbsp;&nbsp;Diluted | 1.10 | 0.84 |

---

*See the accompanying notes to the consolidated financial statements.*

------

**FB Financial Corporation and subsidiaries**

**Consolidated statements of comprehensive income** 

**(Amounts are in thousands)**

**(Unaudited)**

---

| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2026** | **2025** |
| Net income applicable to FB Financial Corporation and noncontrolling interest | $57526 | $39361 |
| Other comprehensive (loss) income, net of tax: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net unrealized (loss) gain in available-for-sale securities, net of tax (benefit) expense of $(900) and<br>&nbsp;&nbsp;&nbsp;&nbsp; $3,489 | (2708) | 9743 |
| &nbsp;&nbsp;&nbsp;&nbsp;Reclassification adjustment for gain on securities included in net income, net of tax expense of $4 |  | (12) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total other comprehensive (loss) income, net of tax | (2708) | 9731 |
| Comprehensive income applicable to FB Financial Corporation and noncontrolling interest | 54818 | 49092 |
| Comprehensive income applicable to noncontrolling interest |  |  |
| Comprehensive income applicable to FB Financial Corporation | $54818 | $49092 |

---

*See the accompanying notes to the consolidated financial statements.*

------

**FB Financial Corporation and subsidiaries**

**Consolidated statements of changes in shareholders' equity**

**(Amounts are in thousands except per share amounts)**

**(Unaudited)**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Common<br>stock** | **Additional<br>paid-in<br>capital** | **Retained<br>earnings** | **Accumulated<br>other<br>comprehensive loss, net** | **Total common<br>shareholders' equity** | **Noncontrolling interest** | **Total shareholders' equity** |
| Balance at December 31, 2024: | $46663 | $860266 | $762293 | $(101684) | $1567538 | $93 | $1567631 |
| &nbsp;&nbsp;Net income attributable to FB Financial<br> Corporation and noncontrolling interest |  |  | 39361 |  | 39361 |  | 39361 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other comprehensive income, net of<br> taxes |  |  |  | 9731 | 9731 |  | 9731 |
| &nbsp;&nbsp;&nbsp;&nbsp;Repurchase of common stock | (209) | (9683) |  |  | (9892) |  | (9892) |
| &nbsp;&nbsp;Stock-based compensation expense | 1 | 4830 |  |  | 4831 |  | 4831 |
| &nbsp;&nbsp;Restricted stock units vested, net of<br> taxes | 19 | (460) |  |  | (441) |  | (441) |
| &nbsp;&nbsp;Performance-based restricted stock<br> units vested, net of taxes | 33 | (654) |  |  | (621) |  | (621) |
| &nbsp;&nbsp;&nbsp;&nbsp;Shares issued under employee stock <br> purchase program | 8 | 416 |  |  | 424 |  | 424 |
| &nbsp;&nbsp;&nbsp;&nbsp;Dividends declared ($0.19 per share) |  |  | (8969) |  | (8969) |  | (8969) |
| Balance at March 31, 2025: | $46515 | $854715 | $792685 | $(91953) | $1601962 | $93 | $1602055 |
| Balance at December 31, 2025: | $51752 | $1082344 | $846620 | $(32551) | $1948165 | $93 | $1948258 |
| &nbsp;&nbsp;Net income attributable to FB Financial<br> Corporation and noncontrolling interest |  |  | 57526 |  | 57526 |  | 57526 |
| &nbsp;&nbsp;Other comprehensive loss, net of<br> taxes |  |  |  | (2708) | (2708) |  | (2708) |
| &nbsp;&nbsp;Repurchase of common stock | (427) | (21408) |  |  | (21835) |  | (21835) |
| &nbsp;&nbsp;Stock-based compensation expense | 1 | 5360 |  |  | 5361 |  | 5361 |
| &nbsp;&nbsp;Restricted stock units vested, net of<br> taxes | 8 | (192) |  |  | (184) |  | (184) |
| &nbsp;&nbsp;Performance-based restricted stock<br> units vested, net of taxes | 75 | (1985) |  |  | (1910) |  | (1910) |
| &nbsp;&nbsp;Shares issued under employee stock <br> purchase program | 9 | 500 |  |  | 509 |  | 509 |
| &nbsp;&nbsp;Dividends declared ($0.21 per share) |  |  | (11051) |  | (11051) |  | (11051) |
| &nbsp;&nbsp;Noncontrolling interest distribution |  |  |  |  |  |  |  |
| Balance at March 31, 2026: | $51418 | $1064619 | $893095 | $(35259) | $1973873 | $93 | $1973966 |

---

*See the accompanying notes to the consolidated financial statements.*

------

**FB Financial Corporation and subsidiaries**

**Consolidated statements of cash flows**

**(Amounts are in thousands)**

**(Unaudited)**

---

| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2026** | **2025** |
| Cash flows from operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net income applicable to FB Financial Corporation and noncontrolling interest | $57526 | $39361 |
| &nbsp;&nbsp;&nbsp;&nbsp;Adjustments to reconcile net income to net cash provided by operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization of fixed assets and software | 3143 | 2767 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization of core deposit and other intangibles | 1869 | 656 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization of subordinated debt issuance costs and fair value premium, net | 327 | 97 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capitalization of mortgage servicing rights | (1272) | (421) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net change in fair value of mortgage servicing rights | 2723 | 6080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation expense | 5361 | 4831 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provision for credit losses on loans HFI | 3822 | 1906 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Reversal of) provision for credit losses on unfunded commitments | (798) | 386 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provision for mortgage loan repurchases | 276 | 18 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accretion of discounts and premiums on acquired loans, net | (6297) | (2) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accretion of premiums and discounts on securities, net | (888) | (609) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gain from investment securities, net | (1) | (16) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Originations of loans held for sale | (325403) | (271383) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from sale of loans held for sale | 307313 | 229175 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gain on sale and change in fair value of loans held for sale | (9525) | (8418) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net loss on write-downs of premises and equipment, other real estate owned and other assets | 320 | 625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provision for deferred income taxes | 7125 | 5100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equity method investment loss | 623 | 495 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Earnings on bank-owned life insurance | (1456) | (446) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Changes in: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operating lease assets and liabilities, net | (424) | (268) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other assets and interest receivable | 9210 | 12314 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued expenses and other liabilities | (22561) | (38706) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by (used in) operating activities | 31013 | (16458) |
| Cash flows from investing activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Activity in available-for-sale securities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Maturities, prepayments and calls | 60126 | 74860 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchases | (101814) | (103731) |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from sales of equity securities | 156 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net change in loans | (117557) | (174919) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net (purchases) redemptions of FHLB stock | (251) | 515 |
| &nbsp;&nbsp;&nbsp;&nbsp;Purchases of Federal Reserve stock | (161) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Purchases of premises and equipment | (1744) | (1663) |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from the sale of premises and equipment |  | 1831 |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from the sale of other real estate owned | 871 | 2668 |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from the sale of other assets | 430 | 243 |
| &nbsp;&nbsp;&nbsp;&nbsp;Proceeds from bank-owned life insurance | 2837 | 550 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash used in investing activities | (157107) | (199646) |

---

------

**FB Financial Corporation and subsidiaries**

**Consolidated statements of cash flows (continued)**

**(Amounts are in thousands)**

**(Unaudited)**

---

| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2026** | **2025** |
| Cash flows from financing activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net increase (decrease) in deposits | $166874 | $(8436) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net decrease in securities sold under agreements to repurchase and federal funds <br> purchased | (4367) | (3712) |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation withholding payments | (2094) | (1062) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net proceeds from sale of common stock under employee stock purchase program | 509 | 424 |
| &nbsp;&nbsp;&nbsp;&nbsp;Repurchase of common stock | (21835) | (9892) |
| &nbsp;&nbsp;&nbsp;&nbsp;Dividends paid on common stock | (10867) | (8865) |
| &nbsp;&nbsp;&nbsp;&nbsp;Dividend equivalent payments made upon vesting of equity compensation | (258) | (135) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net cash provided by (used in) financing activities | 127962 | (31678) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net change in cash and cash equivalents | 1868 | (247782) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents at beginning of the period | 1155895 | 1042488 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents at end of the period | $1157763 | $794706 |
| Supplemental cash flow information: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest paid | $76823 | $77434 |
| &nbsp;&nbsp;&nbsp;&nbsp;Taxes paid, net of refunds | 234 | (8761) |
| Supplemental noncash disclosures: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Transfers from loans HFI to other real estate owned | $1277 | $2067 |
| &nbsp;&nbsp;&nbsp;&nbsp;Transfers from loans HFI to other assets | 1163 | 1471 |
| &nbsp;&nbsp;&nbsp;&nbsp;Transfers from loans HFI to loans held for sale |  | 968 |
| &nbsp;&nbsp;&nbsp;&nbsp;Transfers from loans held for sale to loans HFI | 1820 | 1379 |
| &nbsp;&nbsp;&nbsp;&nbsp;Loans HFI provided for sales of other assets | 436 | 675 |
| &nbsp;&nbsp;&nbsp;&nbsp;Increase (decrease) in rebooked GNMA loans under optional repurchase program | 4488 | (4205) |
| &nbsp;&nbsp;&nbsp;&nbsp;Dividends declared not paid on restricted stock units and performance stock units | 184 | 104 |
| &nbsp;&nbsp;&nbsp;&nbsp;Right-of-use assets obtained in exchange for operating lease liabilities | 364 | 301 |

---

*See the accompanying notes to the consolidated financial statements.*

------

**FB Financial Corporation and subsidiaries**

**Notes to consolidated financial statements**

**(Dollar amounts are in thousands, except share and per share amounts)**

**(Unaudited)**

**Note (1)—Basis of presentation**

**Overview and presentation**

FB Financial Corporation is a financial holding company headquartered in Nashville, Tennessee. The Company operates primarily through its wholly-owned subsidiary bank, FirstBank and its subsidiaries. As of March 31, 2026, the Bank had 90 full-service branches throughout Tennessee, Alabama, Kentucky and Georgia, and provided commercial and consumer banking services to the Asheville, North Carolina market.

The unaudited consolidated financial statements, including the notes thereto, have been prepared in accordance with U.S. GAAP interim reporting requirements and general banking industry guidelines, and therefore, do not include all information and notes included in the annual consolidated financial statements in conformity with GAAP. These interim consolidated financial statements and notes thereto should be read in conjunction with the Company's audited consolidated financial statements and accompanying notes included in the Company's Annual Report on Form 10-K.

The unaudited consolidated financial statements include all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of the results for the interim periods. The results for interim periods are not necessarily indicative of results for a full year.

In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the consolidated financial statements and the reported results of operations for the reporting periods and the related disclosures. Although management's estimates contemplate current conditions and how they are expected to change in the future, it is reasonably possible that actual conditions could vary from those anticipated, which could cause the Company's financial condition and results of operations to vary significantly from those estimates.

Certain prior period amounts have been reclassified to conform to the current period presentation without any impact on the reported amounts of net income or shareholders' equity.

**Earnings per common share**

Basic EPS excludes dilution and is computed by dividing earnings attributable to common shareholders by the weighted average number of common shares outstanding during the period. Diluted EPS includes the dilutive effect of additional potential common shares issuable under stock-based compensation plans where securities have been granted but are not yet vested and distributable. Diluted EPS is computed by dividing earnings attributable to common shareholders by the weighted average number of common shares outstanding for the period, plus an incremental number of common-equivalent shares computed using the treasury stock method.

------

**FB Financial Corporation and subsidiaries**

**Notes to consolidated financial statements**

**(Dollar amounts are in thousands, except share and per share amounts)**

**(Unaudited)**

The following is a summary of the basic and diluted earnings per common share calculations for each of the periods presented:

---

| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2026** | **2025** |
| Basic earnings per common share: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Earnings available to common shareholders | $57526 | $39361 |
| &nbsp;&nbsp;&nbsp;&nbsp;Weighted average basic shares outstanding | 51724458 | 46674698 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basic earnings per common share | $1.11 | $0.84 |
| Diluted earnings per common share: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Earnings available to common shareholders | $57526 | $39361 |
| &nbsp;&nbsp;&nbsp;&nbsp;Weighted average basic shares outstanding | 51724458 | 46674698 |
| &nbsp;&nbsp;&nbsp;&nbsp;Weighted average diluted shares contingently issuable<sup>(1)</sup> | 479011 | 349513 |
| &nbsp;&nbsp;&nbsp;&nbsp;Weighted average diluted shares outstanding | 52203469 | 47024211 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diluted earnings per common share | $1.10 | $0.84 |

---

*(1) Excludes 130,037 restricted stock units outstanding considered to be antidilutive for the three months ended March 31, 2026. There were no such restricted units outstanding for the three months ended March 31, 2025.*

**Recently adopted accounting standards:**

The Company did not adopt any new accounting standards that were not disclosed in the Company's 2025 audited consolidated financial statements included on Form 10-K.

**Newly issued not yet effective accounting standards:**

In November 2024, the FASB issued ASU 2024-03, "Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses." This update is intended to provide investors more detailed disclosures around specific types of expenses. This ASU requires certain details for expenses presented on the face of the consolidated statements of income as well as selling expenses to be presented in the notes to the consolidated financial statements. This update is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027, with early adoption permitted. The disclosure updates are required to be applied prospectively with the option for retrospective application. The Company is evaluating the impact this will have on the Company's consolidated financial statements and related disclosures.

In November 2025, the FASB issued ASU 2025-08, "Financial Instruments – Credit Losses (Topic 326): Purchased Loans." Under Topic 326, when loans are purchased the acquirer is required to make a determination as to which loans are PCD and which are non-PCD. PCD loans are then accounted for using the gross-up approach, which requires the recognition of an ACL for the estimate of credit losses at acquisition date by recording an offsetting gross-up adjustment to the purchase price of the acquired financial asset. Under this amendment, the gross-up approach is expanded and applied to non-PCD loans (except credit cards) that are deemed to be seasoned. A purchased seasoned loan is defined as a loan (excluding credit cards) that is acquired without credit deterioration and acquired either through a business combination transaction, or acquired at least 90 days after origination where the acquirer was not involved in the origination of the loan. This update is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods within those annual reporting periods. The amendments are to be applied prospectively to loans that are acquired on or after the initial application date and early adoption is permitted in an interim or annual reporting period. The Company did not early adopt this amendment for the Southern States merger, but may consider early adoption of this update prior to its required effective date.

In November 2025, the FASB issued ASU 2025-09, "Derivatives and Hedging (Topic 815): Hedge Accounting Improvements." The objective of this update is to more closely align hedge accounting with the economics of an entity's risk management activities. The update addresses five specific issues with the intent to better reflect hedging strategies with financial reporting by enabling entities to achieve and maintain hedge accounting for highly effective economic hedges of forecasted transactions. While not currently applicable, as the Company does not have any hedging activity, the Company is evaluating the impact this will have on the Company's consolidated financial statements and related disclosures should hedging activities occur.

------

**FB Financial Corporation and subsidiaries**

**Notes to consolidated financial statements**

**(Dollar amounts are in thousands, except share and per share amounts)**

**(Unaudited)**

**Subsequent events**

The Company has evaluated, for consideration of recognition or disclosure, subsequent events that occurred through the date of issuance of these financial statements. The Company has determined that there were no subsequent events that occurred after March 31, 2026, but prior to the issuance of these financial statements that would have a material impact on the Company's consolidated financial statements.

**Note (2)—Mergers and acquisitions:**

On July 1, 2025, the Company completed its merger with Southern States Bancshares, Inc. and its wholly-owned subsidiary, Southern States Bank, with FB Financial Corporation continuing as the surviving entity. After consolidating duplicative locations, the merger added 13 branches and expanded the Company's footprint in Alabama and Georgia. The Company transferred consideration of $368,028 through a combination of the issuance of 8,124,241 shares of common stock and payment of $327 in cash to settle outstanding stock options and cash in lieu of fractional shares. As a result of the merger, the Company added total assets of $2,830,374, total loans of $2,267,305 and total deposits of $2,468,530.

The merger with Southern States Bancshares, Inc. was accounted for pursuant to ASC 805, "Business Combinations". Accordingly, the purchase price of the merger was allocated to the acquired assets and liabilities assumed based on fair values as of July 1, 2025. The excess of the purchase price over the net assets acquired was recorded as goodwill. As of March 31, 2026, the Company finalized its valuation of all assets acquired and liabilities assumed.

Goodwill of $107,792 was recorded in connection with the transaction. The goodwill is not deductible for income tax purposes. Goodwill is included in the Banking segment as substantially all of the operations resulting from the merger with Southern States are in alignment with the Company's banking business.

The Company recognized a core deposit intangible of $30,820 and is amortizing the intangible asset over its estimated useful life of 10 years using the sum of years digits method.

The Company incurred $1,447 in merger expenses during the three months ended March 31, 2026 in connection with this transaction. These expenses are primarily comprised of legal and professional fees, severance and other employee-related costs, and costs associated with branch consolidation, conversion and integration activities. Additional merger-related and integration costs will be expensed in future periods as incurred.

The following table presents an allocation of the consideration to net assets acquired:

---

| | | |
|:---|:---|:---|
| **Purchase Price:** | | |
| Net shares issued | 8124241 |  |
| Purchase price per share on June 30, 2025 | $45.30 |  |
| Value of stock consideration |  | $368028 |
| Cash consideration for outstanding stock options and fractional shares |  | 327 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total purchase price** |  | $368355 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Fair value of net assets acquired** |  | 260563 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Goodwill resulting from merger** |  | $107792 |

---

------

**FB Financial Corporation and subsidiaries**

**Notes to consolidated financial statements**

**(Dollar amounts are in thousands, except share and per share amounts)**

**(Unaudited)**

***Net assets acquired***

The following table summarizes the fair values of assets acquired and liabilities assumed as of the merger date:

---

| | |
|:---|:---|
| | **As of July 1, 2025** |
| | **Southern States Bancshares, Inc.** |
| **ASSETS** | |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | $370474 |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments | 38175 |
| &nbsp;&nbsp;&nbsp;&nbsp;Loans held for sale, at fair value | 756 |
| &nbsp;&nbsp;&nbsp;&nbsp;Loans HFI | 2266549 |
| &nbsp;&nbsp;&nbsp;&nbsp;Allowance for credit losses on PCD loans | (7518) |
| &nbsp;&nbsp;&nbsp;&nbsp;Premises and equipment | 37016 |
| &nbsp;&nbsp;&nbsp;&nbsp;Bank-owned life insurance | 39971 |
| &nbsp;&nbsp;&nbsp;&nbsp;Core deposit intangible | 30820 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other assets | 54131 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $2830374 |
| **LIABILITIES** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Deposits: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Noninterest-bearing | $562479 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest-bearing checking | 102666 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Money market and savings | 1161832 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Customer time deposits | 515120 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brokered and internet time deposits | 126433 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total deposits | 2468530 |
| &nbsp;&nbsp;&nbsp;&nbsp;Borrowings | 83008 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accrued expenses and other liabilities | 18273 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities assumed | 2569811 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net assets acquired | $260563 |

---

***Purchased credit-deteriorated loans***

Under the CECL methodology, the Company is required to determine whether purchased loans held for investment have experienced more-than-insignificant deterioration in credit quality since origination, and, if so, the loan is classified as a PCD loan. Loans that have experienced this level of deterioration in credit quality are subject to special accounting at initial recognition and measurement. The Company initially measures the amortized cost of a PCD loan by adding the acquisition date estimate of expected credit losses to the loan's purchase price (i.e. the "gross up" approach). There is no provision for credit loss recognized upon acquisition of a PCD loan because the initial allowance is established through gross-up of the loans' amortized cost.

The Company determined that 17.0% of the Southern States loan portfolio had more-than-insignificant deterioration in credit quality since origination as of the merger date. These PCD loans were primarily loans that were either delinquent, in nonaccrual status or otherwise exhibited signs of credit deterioration prior to the merger.

---

| | |
|:---|:---|
| | **As of July 1, 2025** |
| | **Southern States Bancshares, Inc.** |
| **Purchased credit-deteriorated loans** | |
| Principal balance | $402735 |
| Allowance for credit losses at acquisition | (7518) |
| Net discount attributable to other factors | (10381) |
| &nbsp;&nbsp;&nbsp;&nbsp;Loans purchased credit-deteriorated fair value | $384836 |

---

Loans recognized through acquisition that have not experienced more-than-insignificant credit deterioration since origination (non-PCD loans) are initially recognized at the purchase price. Expected credit losses are measured under CECL through the provision for credit losses. The Company recorded provisions for credit losses in the amounts of $25,123 as of July 1, 2025 in the statement of income related to estimated credit losses on non-PCD loans from Southern States. Additionally, the Company estimates expected credit losses for off-balance sheet loan commitments that are not accounted for as derivatives. The Company recorded an increase in provision for credit losses on unfunded commitments of $3,243.

------

**FB Financial Corporation and subsidiaries**

**Notes to consolidated financial statements**

**(Dollar amounts are in thousands, except share and per share amounts)**

**(Unaudited)**

***Pro forma financial information (unaudited)***

The results of operations of Southern States have been included in the Company's consolidated financial statements prospectively beginning on July 1, 2025. The Company has determined it is impractical to disclose stand-alone revenues and earnings for legacy Southern States subsequent to the merger date, due to the merging of certain processes and converting of operational systems during the third quarter of 2025. The following unaudited pro forma condensed consolidated financial information presents the results of operations for the three months ended March 31, 2025, as though the Southern States merger had been completed as of January 1, 2024. The unaudited pro forma information combines the historical results of Southern States with the Company's previously reported financial results, applies the impact of purchase accounting adjustments from the merger, as well as subsequent recognition of those purchase accounting adjustments, such as accretion from purchased loans, amortization from purchased deposits and debt and amortization of certain acquired intangible assets as if the merger was completed as of January 1, 2024, and excludes $28,366 of initial provision expense for credit losses on acquired loans and unfunded commitments from the third quarter of 2025 and instead includes such expenses in the first quarter of 2024. Merger expenses are reflected in the period in which they were incurred. The pro forma information presented below is hypothetical and is not intended to be indicative of the results of operations that would have occurred had the transaction been effective as of the assumed date. Additionally, these results do not include any effect of cost-saving or revenue-enhancing strategies.

---

| | |
|:---|:---|
| | **Three Months Ended March 31,** |
| | **2025** |
| Net interest income | $135957 |
| Total revenues | 160642 |
| Net income applicable to FB Financial Corporation | 51247 |

---

------

**FB Financial Corporation and subsidiaries**

**Notes to consolidated financial statements**

**(Dollar amounts are in thousands, except share and per share amounts)**

**(Unaudited)**

**Note (3)—Investment securities**

The following tables summarize the amortized cost, allowance for credit losses and fair value of the AFS debt securities and the corresponding amounts of unrealized gains and losses recognized in accumulated other comprehensive loss, net at March 31, 2026 and December 31, 2025:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** |
| | **Amortized cost** | **Gross unrealized gains** | **Gross unrealized losses** | **Allowance for credit losses on investments** | **Fair Value** |
| **Investment Securities** | | | | | |
| AFS debt securities |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;U.S. government agency securities | $715014 | $384 | $(1488) | $— | $713910 |
| &nbsp;&nbsp;&nbsp;Mortgage-backed securities - residential | 629367 | 934 | (31121) |  | 599180 |
| &nbsp;&nbsp;&nbsp;Mortgage-backed securities - commercial | 11153 |  | (521) |  | 10632 |
| &nbsp;&nbsp;&nbsp;Municipal securities | 185693 | 392 | (20052) |  | 166033 |
| &nbsp;&nbsp;&nbsp;U.S. Treasury securities | 7115 |  | (23) |  | 7092 |
| &nbsp;&nbsp;&nbsp;Corporate securities | 1700 |  |  |  | 1700 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $1550042 | $1710 | $(53205) | $— | $1498547 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| | **Amortized cost** | **Gross unrealized gains** | **Gross unrealized losses** | **Allowance for credit losses on investments** | **Fair Value** |
| **Investment Securities** | | | | | |
| AFS debt securities |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;U.S. government agency securities | $672110 | $163 | $(2185) | $— | $670088 |
| &nbsp;&nbsp;&nbsp;Mortgage-backed securities - residential | 631104 | 897 | (29681) |  | 602320 |
| &nbsp;&nbsp;&nbsp;Mortgage-backed securities - commercial | 11164 |  | (486) |  | 10678 |
| &nbsp;&nbsp;&nbsp;Municipal securities | 185000 | 683 | (17313) |  | 168370 |
| &nbsp;&nbsp;&nbsp;U.S. Treasury securities | 7088 | 37 |  |  | 7125 |
| &nbsp;&nbsp;&nbsp;Corporate securities | 1000 |  | (2) |  | 998 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $1507466 | $1780 | $(49667) | $— | $1459579 |

---

The components of amortized cost for AFS debt securities on the consolidated balance sheets exclude accrued interest receivable as the Company has elected to present accrued interest receivable separately on the consolidated balance sheets. As of March 31, 2026 and December 31, 2025, total accrued interest receivable on AFS debt securities was $5,124 and $5,101, respectively.

AFS debt securities pledged at March 31, 2026 and December 31, 2025 had carrying amounts of $861,365 and $810,579, respectively, and were pledged to secure public deposits and repurchase agreements.

Within AFS debt securities, there were no aggregate holdings of any single issuer, other than U.S. Government sponsored enterprises, in an amount greater than 10% of shareholders' equity during any period presented.

AFS debt securities transactions are recorded as of the trade date. At both March 31, 2026 and December 31, 2025, there were no trade date receivables nor payables that related to sales or purchases settled after period end.

------

**FB Financial Corporation and subsidiaries**

**Notes to consolidated financial statements**

**(Dollar amounts are in thousands, except share and per share amounts)**

**(Unaudited)**

The following tables show gross unrealized losses on AFS debt securities for which an allowance for credit losses has not been recorded at March 31, 2026 and December 31, 2025, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** |
| | **Less than 12 months** | **Less than 12 months** | **12 months or more** | **12 months or more** | **Total** | **Total** |
| | **Fair Value** | **Gross Unrealized Loss** | **Fair Value** | **Gross Unrealized Loss** | **Fair Value** | **Gross Unrealized Loss** |
| U.S. government agency securities | $198900 | $(285) | $268808 | $(1203) | $467708 | $(1488) |
| Mortgage-backed securities - residential | 198549 | (1517) | 157299 | (29604) | 355848 | (31121) |
| Mortgage-backed securities - commercial | 1897 | (37) | 8735 | (484) | 10632 | (521) |
| Municipal securities | 22346 | (241) | 120285 | (19811) | 142631 | (20052) |
| U.S. Treasury securities | 7092 | (23) |  |  | 7092 | (23) |
| Corporate securities |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $428784 | $(2103) | $555127 | $(51102) | $983911 | $(53205) |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| | **Less than 12 months** | **Less than 12 months** | **12 months or more** | **12 months or more** | **Total** | **Total** |
| | **Fair Value** | **Gross Unrealized Loss** | **Fair Value** | **Gross Unrealized Loss** | **Fair Value** | **Gross Unrealized Loss** |
| U.S. government agency securities | $274195 | $(500) | $275887 | $(1685) | $550082 | $(2185) |
| Mortgage-backed securities - residential | 97187 | (567) | 207127 | (29114) | 304314 | (29681) |
| Mortgage-backed securities - commercial | 1898 | (9) | 8780 | (477) | 10678 | (486) |
| Municipal securities | 4012 | (2) | 133213 | (17311) | 137225 | (17313) |
| Corporate securities |  |  | 998 | (2) | 998 | (2) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $377292 | $(1078) | $626005 | $(48589) | $1003297 | $(49667) |

---

As of March 31, 2026 and December 31, 2025, the Company's AFS debt securities portfolio consisted of 330 and 324 individual securities, 235 and 209 of which were in an unrealized loss position, respectively.

The Company has historically not recorded any credit losses in AFS debt securities as the majority of the investment portfolio was either government guaranteed, an issuance of a government sponsored entity or highly rated by major credit rating agencies. Municipal debt securities with market values below amortized cost at March 31, 2026 and December 31, 2025 were reviewed for material credit events and/or rating downgrades with individual credit reviews performed. The issuers of these municipal debt securities continue to make timely principal and interest payments under the contractual terms of the securities and the issuers will continue to be observed as a part of the Company's ongoing credit monitoring. As such, as of March 31, 2026 and December 31, 2025, it was determined that all AFS debt securities that experienced a decline in fair value below amortized cost basis were due to noncredit-related factors. Further, it is not likely that the Company will be required to sell these securities before recovery of their amortized cost basis. Therefore, no allowance for credit losses was recognized on AFS debt securities as of March 31, 2026 or December 31, 2025. Periodically, AFS debt securities may be sold, or the composition of the portfolio realigned to improve yields, quality or marketability, or to implement changes in investment or asset/liability strategy, including maintaining collateral requirements and raising funds for liquidity purposes or preparing for anticipated changes in market interest rates.

------

**FB Financial Corporation and subsidiaries**

**Notes to consolidated financial statements**

**(Dollar amounts are in thousands, except share and per share amounts)**

**(Unaudited)**

The amortized cost and fair value of AFS debt securities by contractual maturity as of March 31, 2026 and December 31, 2025 are shown below. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **March 31,** | **March 31,** | **December 31,** | **December 31,** |
| | **2026** | **2026** | **2025** | **2025** |
| | **Available-for-sale** | **Available-for-sale** | **Available-for-sale** | **Available-for-sale** |
| | **Amortized cost** | **Fair Value** | **Amortized cost** | **Fair Value** |
| Due in one year or less | $1388 | $204 | $205 | $204 |
| Due in one to five years | 13015 | 14144 | 12467 | 12474 |
| Due in five to ten years | 339179 | 335973 | 330850 | 328456 |
| Due in over ten years | 555940 | 538414 | 521676 | 505447 |
|  | 909522 | 888735 | 865198 | 846581 |
| Mortgage-backed securities - residential | 629367 | 599180 | 631104 | 602320 |
| Mortgage-backed securities - commercial | 11153 | 10632 | 11164 | 10678 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total AFS debt securities | $1550042 | $1498547 | $1507466 | $1459579 |

---

Sales and other dispositions of AFS debt securities were as follows:

---

| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2026** | **2025** |
| Proceeds from sales | $— | $— |
| Proceeds from maturities, prepayments and calls | 60126 | 74860 |
| Gross realized gains |  | 16 |
| Gross realized losses |  |  |

---

***Equity Securities***

*Equity securities, at fair value*

As of December 31, 2025, the Company held $155 in marketable equity securities recorded at fair value. There were no such securities as of March 31, 2026.

The change in the fair value of equity securities recorded at fair value resulted in a net gain of $1 for the three months ended March 31, 2026. There were no such amounts recognized for the three months ended March 31, 2025.

*Restricted equity securities, at cost*

The table below represents the Company's restricted equity securities held at cost as of March 31, 2026 and December 31, 2025.

---

| | | |
|:---|:---|:---|
| | **March 31,** | **December 31,** |
| | **2026** | **2025** |
| Federal Reserve Bank stock | $45389 | $45227 |
| FHLB stock | 32651 | 32401 |
| First National Banker's Bankshares, Inc. stock | 1168 | 1168 |
| Pacific Coast Banker's Bank stock | 250 | 250 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total restricted equity securities, at cost | $79458 | $79046 |

---

*Equity securities without readily determinable market value*

The Company held equity securities without a readily determinable market value included in other assets on the consolidated balance sheets with carrying amounts of $29,872 and $32,038 at March 31, 2026 and December 31, 2025, respectively.

------

**FB Financial Corporation and subsidiaries**

**Notes to consolidated financial statements**

**(Dollar amounts are in thousands, except share and per share amounts)**

**(Unaudited)**

*Equity method investment*

The Company holds equity securities of a privately held entity which originates manufactured housing loans through utilization of its proprietary technology. As of March 31, 2026 and December 31, 2025, the Company has the ability to exercise significant influence over this entity and therefore accounts for these equity securities under the equity method. Under this method, the carrying value of the investment is adjusted to reflect the Company's proportionate share of the investee's profit or loss. This investment is reported in other assets on the consolidated balance sheets with carrying amounts of $16,988 and $17,611 as of March 31, 2026 and December 31, 2025, respectively. The Company's investment includes a basis difference of $17,103, which is accounted for as equity method goodwill.

**Note (4)—Loans and allowance for credit losses on loans HFI**

Loans outstanding as of March 31, 2026 and December 31, 2025, by class of financing receivable are as follows:

---

| | | |
|:---|:---|:---|
| | **March 31,** | **December 31,** |
| | **2026** | **2025** |
| Commercial and industrial | $2239228 | $2181935 |
| Construction | 1177082 | 1188494 |
| Residential real estate: |  |  |
| &nbsp;&nbsp;&nbsp;1-to-4 family mortgage | 1856308 | 1838122 |
| &nbsp;&nbsp;&nbsp;Residential line of credit | 768190 | 741309 |
| &nbsp;&nbsp;&nbsp;Multi-family mortgage | 716795 | 745360 |
| Commercial real estate: |  |  |
| &nbsp;&nbsp;&nbsp;Owner-occupied | 2204731 | 2148870 |
| &nbsp;&nbsp;&nbsp;Non-owner occupied | 2869759 | 2900499 |
| Consumer and other | 671722 | 639037 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gross loans | 12503815 | 12383626 |
| Less: Allowance for credit losses on loans HFI | (186324) | (185983) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net loans | $12317491 | $12197643 |

---

As of March 31, 2026 and December 31, 2025, $971,069 and $988,111, respectively, of qualifying residential mortgage loans (including loans held for sale) and $2,842,848 and $2,829,765, respectively, of qualifying commercial mortgage loans were pledged to the FHLB system securing advances against the Bank's line of credit. Additionally, as of March 31, 2026 and December 31, 2025, qualifying commercial and industrial, construction and consumer loans, of $2,941,810 and $2,879,586, respectively, were pledged to the Federal Reserve under the Borrower-in-Custody program.

The amortized cost of loans HFI on the consolidated balance sheets exclude accrued interest receivable as the Company presents accrued interest receivable separately on the consolidated balance sheets. As of March 31, 2026 and December 31, 2025, accrued interest receivable on loans HFI amounted to $51,289 and $50,140, respectively.

------

**FB Financial Corporation and subsidiaries**

**Notes to consolidated financial statements**

**(Dollar amounts are in thousands, except share and per share amounts)**

**(Unaudited)**

***Credit Quality - Commercial Type Loans***

The Company categorizes commercial loan types into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Company analyzes loans that share similar risk characteristics collectively. Loans that do not share similar risk characteristics may be evaluated individually.

The Company uses the following definitions for risk ratings:

---

| | | |
|:---|:---|:---|
| | **Pass.** | Loans rated Pass include those that are adequately collateralized performing loans which management believes do not have conditions that have occurred or may occur that would result in the loan being downgraded into an inferior category. The Pass category also includes commercial loans rated as Watch, which include those that management believes have conditions that have occurred, or may occur, which could result in the loan being downgraded to an inferior category.  |
| |  | Loans rated Pass include those that are adequately collateralized performing loans which management believes do not have conditions that have occurred or may occur that would result in the loan being downgraded into an inferior category. The Pass category also includes commercial loans rated as Watch, which include those that management believes have conditions that have occurred, or may occur, which could result in the loan being downgraded to an inferior category.  |
| | | Loans rated Pass include those that are adequately collateralized performing loans which management believes do not have conditions that have occurred or may occur that would result in the loan being downgraded into an inferior category. The Pass category also includes commercial loans rated as Watch, which include those that management believes have conditions that have occurred, or may occur, which could result in the loan being downgraded to an inferior category.  |
| | | Loans rated Pass include those that are adequately collateralized performing loans which management believes do not have conditions that have occurred or may occur that would result in the loan being downgraded into an inferior category. The Pass category also includes commercial loans rated as Watch, which include those that management believes have conditions that have occurred, or may occur, which could result in the loan being downgraded to an inferior category.  |
| | **Special Mention.**  | Loans rated Special Mention are those that have potential weaknesses that deserve management's close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or in the institution's credit position at some future date. Management does not believe there will be a loss of principal or interest. These loans require intensive servicing and may possess more than normal credit risk.  |
| | **Special Mention.**  | Loans rated Special Mention are those that have potential weaknesses that deserve management's close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or in the institution's credit position at some future date. Management does not believe there will be a loss of principal or interest. These loans require intensive servicing and may possess more than normal credit risk.  |
| | | Loans rated Special Mention are those that have potential weaknesses that deserve management's close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or in the institution's credit position at some future date. Management does not believe there will be a loss of principal or interest. These loans require intensive servicing and may possess more than normal credit risk.  |
| | | Loans rated Special Mention are those that have potential weaknesses that deserve management's close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or in the institution's credit position at some future date. Management does not believe there will be a loss of principal or interest. These loans require intensive servicing and may possess more than normal credit risk.  |
| | **Classified.** | Loans included in the Classified category include loans rated as Substandard and Doubtful. Loans rated as Substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Substandard loans have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. Doubtful loans have all the weaknesses inherent in those classified as Substandard, with the added characteristic that the weakness or weaknesses make collection or liquidation in full, based on currently existing facts, conditions, and values, highly questionable and improbable.  |
| | | Loans included in the Classified category include loans rated as Substandard and Doubtful. Loans rated as Substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Substandard loans have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. Doubtful loans have all the weaknesses inherent in those classified as Substandard, with the added characteristic that the weakness or weaknesses make collection or liquidation in full, based on currently existing facts, conditions, and values, highly questionable and improbable.  |
| | | Loans included in the Classified category include loans rated as Substandard and Doubtful. Loans rated as Substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Substandard loans have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. Doubtful loans have all the weaknesses inherent in those classified as Substandard, with the added characteristic that the weakness or weaknesses make collection or liquidation in full, based on currently existing facts, conditions, and values, highly questionable and improbable.  |
| | | Loans included in the Classified category include loans rated as Substandard and Doubtful. Loans rated as Substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Substandard loans have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. Doubtful loans have all the weaknesses inherent in those classified as Substandard, with the added characteristic that the weakness or weaknesses make collection or liquidation in full, based on currently existing facts, conditions, and values, highly questionable and improbable.  |
| | | Loans included in the Classified category include loans rated as Substandard and Doubtful. Loans rated as Substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Substandard loans have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. Doubtful loans have all the weaknesses inherent in those classified as Substandard, with the added characteristic that the weakness or weaknesses make collection or liquidation in full, based on currently existing facts, conditions, and values, highly questionable and improbable.  |
| Loans included in the Classified category include loans rated as Substandard and Doubtful. Loans rated as Substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Substandard loans have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. Doubtful loans have all the weaknesses inherent in those classified as Substandard, with the added characteristic that the weakness or weaknesses make collection or liquidation in full, based on currently existing facts, conditions, and values, highly questionable and improbable.  |  |  |

---

Risk ratings are updated on an ongoing basis and are subject to change by continuous loan monitoring processes.

------

**FB Financial Corporation and subsidiaries**

**Notes to consolidated financial statements**

**(Dollar amounts are in thousands, except share and per share amounts)**

**(Unaudited)**

The following tables present the credit quality of the Company's commercial type loan portfolio as of March 31, 2026 and December 31, 2025 and the gross charge-offs for the three months ended March 31, 2026 and the year ended December 31, 2025 by year of origination. Revolving loans are presented separately. Management considers the guidance in ASC 310-20 when determining whether a modification, extension, or renewal constitutes a current period origination.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **As of and for the three months**<br>**&nbsp;&nbsp;&nbsp;&nbsp;ended March 31, 2026**  | **2026** | **2025** | **2024** | **2023** | **2022** | **Prior** | **Revolving Loans Amortized Cost Basis** | **Total** |
| **Commercial and industrial** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Pass | $110356 | $260928 | $173540 | $179701 | $103111 | $142737 | $1168372 | $2138745 |
| &nbsp;&nbsp;&nbsp;&nbsp;Special Mention | 268 | 609 | 2194 | 5321 | 5884 | 6725 | 25495 | 46496 |
| &nbsp;&nbsp;&nbsp;&nbsp;Classified | 1459 | 193 | 2110 | 3152 | 1241 | 6495 | 39337 | 53987 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 112083 | 261730 | 177844 | 188174 | 110236 | 155957 | 1233204 | 2239228 |
| **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current-period gross<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; charge-offs** |  | 75 | 51 | 233 | 400 | 862 | 547 | 2168 |
| **Construction** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Pass | 102684 | 361819 | 184327 | 24915 | 113035 | 118928 | 215715 | 1121423 |
| &nbsp;&nbsp;&nbsp;&nbsp;Special Mention |  | 825 |  | 73 | 3735 | 352 |  | 4985 |
| &nbsp;&nbsp;&nbsp;&nbsp;Classified |  |  | 87 | 3349 | 17857 | 29381 |  | 50674 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 102684 | 362644 | 184414 | 28337 | 134627 | 148661 | 215715 | 1177082 |
| **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current-period gross<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; charge-offs** |  |  | 62 |  | 142 |  |  | 204 |
| **Residential real estate:** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;**Multi-family mortgage** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Pass | 598 | 48688 | 29503 | 37430 | 253972 | 313265 | 22882 | 706338 |
| &nbsp;&nbsp;&nbsp;&nbsp;Special Mention |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Classified |  |  |  |  | 2829 | 7628 |  | 10457 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 598 | 48688 | 29503 | 37430 | 256801 | 320893 | 22882 | 716795 |
| **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Current-period gross<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;charge-offs** |  |  |  |  |  |  |  |  |
| **Commercial real estate:** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;**Owner occupied** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Pass | 70424 | 355390 | 308695 | 207065 | 328948 | 750646 | 117589 | 2138757 |
| &nbsp;&nbsp;&nbsp;&nbsp;Special Mention |  | 790 | 399 | 10129 | 5874 | 18356 | 8036 | 43584 |
| &nbsp;&nbsp;&nbsp;&nbsp;Classified |  |  | 1624 | 4785 | 7376 | 7751 | 854 | 22390 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 70424 | 356180 | 310718 | 221979 | 342198 | 776753 | 126479 | 2204731 |
| **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current-period gross<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; charge-offs** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;**Non-owner occupied** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Pass | 127226 | 293396 | 208696 | 125926 | 681927 | 1254723 | 121184 | 2813078 |
| &nbsp;&nbsp;&nbsp;&nbsp;Special Mention |  |  | 10349 |  | 5910 | 29920 |  | 46179 |
| &nbsp;&nbsp;&nbsp;&nbsp;Classified |  |  | 1171 | 1008 | 2316 | 6007 |  | 10502 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 127226 | 293396 | 220216 | 126934 | 690153 | 1290650 | 121184 | 2869759 |
| **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Current-period gross<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;charge-offs** |  |  |  |  |  |  |  |  |
| **Total commercial loan types** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Pass | 411288 | 1320221 | 904761 | 575037 | 1480993 | 2580299 | 1645742 | 8918341 |
| &nbsp;&nbsp;&nbsp;&nbsp;Special Mention | 268 | 2224 | 12942 | 15523 | 21403 | 55353 | 33531 | 141244 |
| &nbsp;&nbsp;&nbsp;&nbsp;Classified | 1459 | 193 | 4992 | 12294 | 31619 | 57262 | 40191 | 148010 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | $413015 | $1322638 | $922695 | $602854 | $1534015 | $2692914 | $1719464 | $9207595 |
| **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current-period gross<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;charge-offs** | $— | $75 | $113 | $233 | $542 | $862 | $547 | $2372 |

---

------

**FB Financial Corporation and subsidiaries**

**Notes to consolidated financial statements**

**(Dollar amounts are in thousands, except share and per share amounts)**

**(Unaudited)**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **As of and for the year ended<br> December 31, 2025** | **2025** | **2024** | **2023** | **2022** | **2021** | **Prior** | **Revolving Loans Amortized Cost Basis** | **Total** |
| **Commercial and industrial** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Pass | $272440 | $198802 | $195571 | $99265 | $43851 | $108067 | $1162291 | $2080287 |
| &nbsp;&nbsp;&nbsp;&nbsp;Special Mention | 64 | 1934 | 5223 | 5911 | 1052 | 7634 | 20994 | 42812 |
| &nbsp;&nbsp;&nbsp;&nbsp;Classified | 255 | 2138 | 419 | 14972 | 300 | 6981 | 33771 | 58836 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 272759 | 202874 | 201213 | 120148 | 45203 | 122682 | 1217056 | 2181935 |
| **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Current-period gross<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; charge-offs** |  |  | 54 |  |  | 2478 | 604 | 3136 |
| **Construction** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Pass | 343056 | 201130 | 36715 | 171803 | 71877 | 74429 | 221953 | 1120963 |
| &nbsp;&nbsp;&nbsp;&nbsp;Special Mention |  | 396 | 3167 | 9456 | 10108 |  |  | 23127 |
| &nbsp;&nbsp;&nbsp;&nbsp;Classified |  | 152 | 3351 | 21303 | 230 | 5451 | 13917 | 44404 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 343056 | 201678 | 43233 | 202562 | 82215 | 79880 | 235870 | 1188494 |
| **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Current-period gross<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; charge-offs** |  |  |  |  |  | 399 |  | 399 |
| **Residential real estate:** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;**Multi-family mortgage** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Pass | 65268 | 34872 | 38022 | 234272 | 196870 | 144904 | 22953 | 737161 |
| &nbsp;&nbsp;&nbsp;&nbsp;Special Mention |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Classified |  |  |  | 569 | 7613 | 17 |  | 8199 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 65268 | 34872 | 38022 | 234841 | 204483 | 144921 | 22953 | 745360 |
| **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Current-period gross<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; charge-offs** |  |  |  |  |  |  |  |  |
| **Commercial real estate:** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;**Owner occupied** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Pass | 356246 | 309181 | 199470 | 335067 | 266328 | 517046 | 124340 | 2107678 |
| &nbsp;&nbsp;&nbsp;&nbsp;Special Mention |  | 403 | 4407 | 1351 | 6183 | 14256 | 239 | 26839 |
| &nbsp;&nbsp;&nbsp;&nbsp;Classified |  | 1622 | 1024 | 7389 | 100 | 3182 | 1036 | 14353 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 356246 | 311206 | 204901 | 343807 | 272611 | 534484 | 125615 | 2148870 |
| **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Current-period gross<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; charge-offs** |  |  |  |  |  | 17 |  | 17 |
| &nbsp;&nbsp;**Non-owner occupied** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Pass | 297096 | 237840 | 144572 | 714151 | 558116 | 788545 | 122713 | 2863033 |
| &nbsp;&nbsp;&nbsp;&nbsp;Special Mention |  | 10341 |  | 6135 | 4568 | 6018 |  | 27062 |
| &nbsp;&nbsp;&nbsp;&nbsp;Classified |  | 1167 | 1008 | 2249 | 4602 | 1378 |  | 10404 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 297096 | 249348 | 145580 | 722535 | 567286 | 795941 | 122713 | 2900499 |
| **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Current-period gross<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; charge-offs** |  |  |  |  |  |  |  |  |
| **Total commercial loan types** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Pass | 1334106 | 981825 | 614350 | 1554558 | 1137042 | 1632991 | 1654250 | 8909122 |
| &nbsp;&nbsp;&nbsp;&nbsp;Special Mention | 64 | 13074 | 12797 | 22853 | 21911 | 27908 | 21233 | 119840 |
| &nbsp;&nbsp;&nbsp;&nbsp;Classified | 255 | 5079 | 5802 | 46482 | 12845 | 17009 | 48724 | 136196 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | $1334425 | $999978 | $632949 | $1623893 | $1171798 | $1677908 | $1724207 | $9165158 |
| **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Current-period gross<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; charge-offs** | $— | $— | $54 | $— | $— | $2894 | $604 | $3552 |

---

------

**FB Financial Corporation and subsidiaries**

**Notes to consolidated financial statements**

**(Dollar amounts are in thousands, except share and per share amounts)**

**(Unaudited)**

***Credit Quality - Consumer Type Loans***

For consumer and residential loan classes, the Company primarily evaluates credit quality based on delinquency and accrual status of the loan, credit documentation and by payment activity. The performing or nonperforming status is updated on an on-going basis dependent upon improvement and deterioration in credit quality. Nonperforming loans include loans that are no longer accruing interest (nonaccrual loans) and loans past due ninety or more days and still accruing interest.

The following tables present the credit quality by classification of the Company's consumer type loan portfolio as of March 31, 2026 and December 31, 2025 and the gross charge-offs for the three months ended March 31, 2026 and the year ended December 31, 2025 by year of origination. Revolving loans are presented separately. Management considers the guidance in ASC 310-20 when determining whether a modification, extension, or renewal constitutes a current period origination.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **As of and for the three months**<br>**&nbsp;&nbsp;&nbsp;&nbsp;ended March 31, 2026** | **2026** | **2025** | **2024** | **2023** | **2022** | **Prior** | **Revolving Loans Amortized Cost Basis** | **Total** |
| **Residential real estate:** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;**1-to-4 family mortgage** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Performing | $119206 | $311546 | $205642 | $132712 | $399282 | $657764 | $— | $1826152 |
| &nbsp;&nbsp;&nbsp;&nbsp;Nonperforming |  | 901 | 1165 | 960 | 7952 | 19178 |  | 30156 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 119206 | 312447 | 206807 | 133672 | 407234 | 676942 |  | 1856308 |
| &nbsp;&nbsp;**&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Current-period gross<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; charge-offs** |  |  | 6 | 17 | 324 | 58 |  | 405 |
| &nbsp;&nbsp;**Residential line of credit** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Performing |  |  |  |  |  |  | 766180 | 766180 |
| &nbsp;&nbsp;&nbsp;&nbsp;Nonperforming |  |  |  |  |  |  | 2010 | 2010 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total |  |  |  |  |  |  | 768190 | 768190 |
| &nbsp;&nbsp;**&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Current-period gross<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; charge-offs** |  |  |  |  |  |  | 23 | 23 |
| &nbsp;&nbsp;**Consumer and other** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Performing | 31776 | 170801 | 145231 | 77806 | 65906 | 154208 | 4944 | 650672 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nonperforming |  | 2106 | 4498 | 3473 | 1715 | 9258 |  | 21050 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total | 31776 | 172907 | 149729 | 81279 | 67621 | 163466 | 4944 | 671722 |
| &nbsp;&nbsp;**&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Current-period gross<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; charge-offs** | 202 | 508 | 103 | 62 | 117 | 241 |  | 1233 |
| **Total consumer type loans** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Performing | 150982 | 482347 | 350873 | 210518 | 465188 | 811972 | 771124 | 3243004 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nonperforming |  | 3007 | 5663 | 4433 | 9667 | 28436 | 2010 | 53216 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | $150982 | $485354 | $356536 | $214951 | $474855 | $840408 | $773134 | $3296220 |
| &nbsp;&nbsp;**&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current-period gross<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; charge-offs** | $202 | $508 | $109 | $79 | $441 | $299 | $23 | $1661 |

---

------

**FB Financial Corporation and subsidiaries**

**Notes to consolidated financial statements**

**(Dollar amounts are in thousands, except share and per share amounts)**

**(Unaudited)**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **As of and for the year ended<br> December 31, 2025** | **2025** | **2024** | **2023** | **2022** | **2021** | **Prior** | **Revolving Loans Amortized Cost Basis** | **Total** |
| **Residential real estate:** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;**1-to-4 family mortgage** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Performing | $333641 | $219642 | $154059 | $408746 | $339076 | $350453 | $— | $1805617 |
| &nbsp;&nbsp;&nbsp;&nbsp;Nonperforming | 520 | 1063 | 1274 | 10396 | 6853 | 12399 |  | 32505 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 334161 | 220705 | 155333 | 419142 | 345929 | 362852 |  | 1838122 |
| &nbsp;&nbsp;**&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Prior-period gross <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; charge-offs** |  |  | 3 |  |  | 1123 |  | 1126 |
| &nbsp;&nbsp;**Residential line of credit** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Performing |  |  |  |  |  |  | 739295 | 739295 |
| &nbsp;&nbsp;&nbsp;&nbsp;Nonperforming |  |  |  |  |  |  | 2014 | 2014 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total |  |  |  |  |  |  | 741309 | 741309 |
| &nbsp;&nbsp;**&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Prior-period gross <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; charge-offs** | **—** |  |  |  |  |  |  |  |
| **Consumer and other** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Performing | 149560 | 153638 | 80874 | 68023 | 30289 | 128726 | 5874 | 616984 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nonperforming | 1689 | 4716 | 4006 | 2033 | 3103 | 6505 | 1 | 22053 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total | 151249 | 158354 | 84880 | 70056 | 33392 | 135231 | 5875 | 639037 |
| &nbsp;&nbsp;**&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prior-period gross <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; charge-offs** | 2101 | 110 | 76 | 104 | 86 | 1715 | 4 | 4196 |
| **Total consumer type loans** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Performing | 483201 | 373280 | 234933 | 476769 | 369365 | 479179 | 745169 | 3161896 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nonperforming | 2209 | 5779 | 5280 | 12429 | 9956 | 18904 | 2015 | 56572 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total | $485410 | $379059 | $240213 | $489198 | $379321 | $498083 | $747184 | $3218468 |
| &nbsp;&nbsp;**&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Prior-period gross <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; charge-offs** | $2101 | $110 | $79 | $104 | $86 | $2838 | $4 | $5322 |

---

***Nonaccrual and Past Due Loans***

The following tables represent an analysis of the aging by class of financing receivable as of March 31, 2026 and December 31, 2025:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **March 31, 2026** | **30-89 days<br>past due and accruing <br>interest** | **90 days or <br>more and accruing <br>interest** | **Nonaccrual<br>loans** | **Loans current <br>on payments <br>and accruing <br>interest** | **Total** |
| Commercial and industrial | $17205 | $227 | $6418 | $2215378 | $2239228 |
| Construction | 13441 | 93 | 30478 | 1133070 | 1177082 |
| Residential real estate: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;1-to-4 family mortgage | 27272 | 19653 | 10503 | 1798880 | 1856308 |
| &nbsp;&nbsp;&nbsp;Residential line of credit | 2892 | 500 | 1510 | 763288 | 768190 |
| &nbsp;&nbsp;&nbsp;Multi-family mortgage |  |  | 8178 | 708617 | 716795 |
| Commercial real estate: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Owner occupied | 5529 | 113 | 14970 | 2184119 | 2204731 |
| &nbsp;&nbsp;&nbsp;Non-owner occupied | 3305 |  | 5781 | 2860673 | 2869759 |
| Consumer and other | 16784 | 6599 | 14451 | 633888 | 671722 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $86428 | $27185 | $92289 | $12297913 | $12503815 |

---

------

**FB Financial Corporation and subsidiaries**

**Notes to consolidated financial statements**

**(Dollar amounts are in thousands, except share and per share amounts)**

**(Unaudited)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **December 31, 2025** | **30-89 days<br>past due and accruing <br>interest** | **90 days or <br>more and accruing <br>interest** | **Nonaccrual<br>loans** | **Loans current on payments and accruing interest** | **Total** |
| Commercial and industrial | $3068 | $84 | $6289 | $2172494 | $2181935 |
| Construction | 2435 |  | 34208 | 1151851 | 1188494 |
| Residential real estate: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;1-to-4 family mortgage | 28957 | 23742 | 8763 | 1776660 | 1838122 |
| &nbsp;&nbsp;&nbsp;Residential line of credit | 2921 | 799 | 1215 | 736374 | 741309 |
| &nbsp;&nbsp;&nbsp;Multi-family mortgage | 2788 |  | 8199 | 734373 | 745360 |
| Commercial real estate: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Owner occupied | 4961 |  | 10606 | 2133303 | 2148870 |
| &nbsp;&nbsp;&nbsp;Non-owner occupied | 1932 |  | 4514 | 2894053 | 2900499 |
| Consumer and other | 19744 | 8126 | 13927 | 597240 | 639037 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $66806 | $32751 | $87721 | $12196348 | $12383626 |

---

The following tables provide the amortized cost basis of loans on nonaccrual status, as well as any related allowance as of March 31, 2026 and December 31, 2025 by class of financing receivable.

---

| | | |
|:---|:---|:---|
| **March 31, 2026** | **Nonaccrual<br>with no<br>related<br>allowance** | **Nonaccrual<br>with<br>related<br>allowance** |
| Commercial and industrial | $— | $6418 |
| Construction | 9875 | 20603 |
| Residential real estate: |  |  |
| &nbsp;&nbsp;&nbsp;1-to-4 family mortgage |  | 10503 |
| &nbsp;&nbsp;&nbsp;Residential line of credit |  | 1510 |
| &nbsp;&nbsp;&nbsp;Multi-family mortgage | 7613 | 565 |
| Commercial real estate: |  |  |
| &nbsp;&nbsp;&nbsp;Owner occupied | 5396 | 9574 |
| &nbsp;&nbsp;&nbsp;Non-owner occupied | 3204 | 2577 |
| Consumer and other |  | 14451 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $26088 | $66201 |

---

---

| | | |
|:---|:---|:---|
| **December 31, 2025** | **Nonaccrual<br>with no<br>related<br>allowance** | **Nonaccrual<br>with<br>related<br>allowance** |
| Commercial and industrial | $862 | $5427 |
| Construction | 14617 | 19591 |
| Residential real estate: |  |  |
| &nbsp;&nbsp;&nbsp;1-to-4 family mortgage |  | 8763 |
| &nbsp;&nbsp;&nbsp;Residential line of credit |  | 1215 |
| &nbsp;&nbsp;&nbsp;Multi-family mortgage | 7613 | 586 |
| Commercial real estate: |  |  |
| &nbsp;&nbsp;&nbsp;Owner occupied | 1095 | 9511 |
| &nbsp;&nbsp;&nbsp;Non-owner occupied | 2032 | 2482 |
| Consumer and other |  | 13927 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $26219 | $61502 |

---

------

**FB Financial Corporation and subsidiaries**

**Notes to consolidated financial statements**

**(Dollar amounts are in thousands, except share and per share amounts)**

**(Unaudited)**

The following presents interest income recognized on nonaccrual loans for the three months ended March 31, 2026 and 2025:

---

| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2026** | **2025** |
| Commercial and industrial | $26 | $3 |
| Construction |  | 6 |
| Residential real estate: |  |  |
| &nbsp;&nbsp;&nbsp;1-to-4 family mortgage | 4 |  |
| &nbsp;&nbsp;&nbsp;Residential line of credit | 22 | 7 |
| &nbsp;&nbsp;&nbsp;Multi-family mortgage |  |  |
| Commercial real estate: |  |  |
| &nbsp;&nbsp;&nbsp;Owner occupied | 52 | 8 |
| &nbsp;&nbsp;&nbsp;Non-owner occupied | 13 |  |
| Consumer and other | 7 | 4 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $124 | $28 |

---

Accrued interest receivable written off as an adjustment to interest income amounted to $245 and $287 for the three months ended March 31, 2026 and 2025, respectively.

***Loan Modifications to Borrowers Experiencing Financial Difficulty***

Occasionally, the Company may make certain modifications of loans to borrowers experiencing financial difficulty. These modifications may be in the form of an interest rate reduction, a term extension, principal forgiveness, payment deferral or a combination thereof. Upon the Company's determination that a modified loan has subsequently been deemed uncollectible, the portion of the loan deemed uncollectible is charged off against the allowance for credit losses on loans HFI. The Company closely monitors the performance of the loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. Tables within this section exclude loans that were paid off or are otherwise no longer in the loan portfolio as of period end.

------

**FB Financial Corporation and subsidiaries**

**Notes to consolidated financial statements**

**(Dollar amounts are in thousands, except share and per share amounts)**

**(Unaudited)**

The following table presents the amortized cost of FDM loans as of March 31, 2026 and 2025 by type of concession granted that were modified during the three months ended March 31, 2026 and 2025.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Term Extension** | **Payment deferral** | **Interest Rate Reduction** | **Combination**<sup>(1)</sup> | **Total** | **% of total class of financing receivables** |
| **Three Months Ended March 31, 2026** | **Three Months Ended March 31, 2026** | **Three Months Ended March 31, 2026** | | | | |
| Commercial and industrial | $7616 | $1459 | $— | $649 | $9724 | 0.4% |
| Construction | 13837 |  |  |  | 13837 | 1.2% |
| Residential real estate: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;1-to-4 family mortgage | 955 |  |  | 160 | 1115 | 0.1% |
| Consumer and other | 35 |  |  |  | 35 | —% |
| Total | $22443 | $1459 | $— | $809 | $24711 | 0.2% |
| **Three Months Ended March 31, 2025** | **Three Months Ended March 31, 2025** | **Three Months Ended March 31, 2025** |  |  |  |  |
| Commercial and industrial | $152 | $— | $— | $— | $152 | —% |
| Construction | 539 |  |  |  | 539 | 0.1% |
| Residential real estate: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; 1-to-4 family mortgage |  |  |  | 85 | 85 | —% |
| Commercial real estate: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Owner occupied |  | 143 |  |  | 143 | —% |
| Consumer and other |  |  |  | 63 | 63 | —% |
| Total | $691 | $143 | $— | $148 | $982 | —% |
| <sup>(1)</sup> *Includes FDM loans modified with a combination of term extension, payment deferral and interest rate reduction modifications.*  | <sup>(1)</sup> *Includes FDM loans modified with a combination of term extension, payment deferral and interest rate reduction modifications.*  | <sup>(1)</sup> *Includes FDM loans modified with a combination of term extension, payment deferral and interest rate reduction modifications.*  | <sup>(1)</sup> *Includes FDM loans modified with a combination of term extension, payment deferral and interest rate reduction modifications.*  | <sup>(1)</sup> *Includes FDM loans modified with a combination of term extension, payment deferral and interest rate reduction modifications.*  | <sup>(1)</sup> *Includes FDM loans modified with a combination of term extension, payment deferral and interest rate reduction modifications.*  | <sup>(1)</sup> *Includes FDM loans modified with a combination of term extension, payment deferral and interest rate reduction modifications.*  |

---

The following tables describe the financial effect of the modifications made to borrowers experiencing financial difficulty:

---

| | | | |
|:---|:---|:---|:---|
| **Three Months Ended March 31, 2026** | **Weighted average term extension <br>(in months)** | **Weighted average payment deferral <br>(in months)** | **Weighted average interest rate reduction** |
| Commercial and industrial | 6 | 36 | 0.50% |
| Construction | 12 |  | —% |
| Residential real estate: |  |  |  |
| &nbsp;&nbsp;&nbsp;1-to-4 family mortgage | 62 | 0 | 1.76% |
| Commercial real estate: |  |  |  |
| Consumer and other | 20 |  | —% |

---

---

| | | | |
|:---|:---|:---|:---|
| **Three Months Ended March 31, 2025** | **Weighted average term extension <br>(in months)** | **Weighted average payment deferral <br>(in months)** | **Weighted average interest rate reduction** |
| Commercial and industrial | 36 |  | —% |
| Construction | 6 |  | —% |
| Residential real estate: |  |  |  |
| &nbsp;&nbsp;&nbsp;1-to-4 family mortgage | 62 |  | 2.25% |
| Commercial real estate: |  |  |  |
| &nbsp;&nbsp;&nbsp;Owner occupied |  |  | 2.50% |
| Consumer and other | 13 |  | 2.00% |

---

For FDM loans, a subsequent payment default is defined as the earlier of the FDM loans being placed on nonaccrual status or reaching 30 days past due with respect to principal and/or interest payments.

------

**FB Financial Corporation and subsidiaries**

**Notes to consolidated financial statements**

**(Dollar amounts are in thousands, except share and per share amounts)**

**(Unaudited)**

The following tables depict loans that defaulted during the three months ended March 31, 2026 that were previously modified in the prior 12 months:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Three Months Ended March 31, 2026** | **Term Extension** | **Payment deferral** | **Interest Rate Reduction** | **Combination**<sup>(1)</sup> |
| Commercial and industrial | $3 | $1955 | $— | $— |
| Construction | $— | $— | $— | $3305 |
| Residential real estate: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;1-to-4 family mortgage | 1627 | 1137 |  |  |
| Commercial real estate: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Non-owner occupied |  | 4606 |  |  |
| Consumer and other |  |  |  | 97 |
| <sup>(1)</sup> *Includes FDM loans modified with a combination of term extension, payment deferral and interest rate reduction modifications.*  | <sup>(1)</sup> *Includes FDM loans modified with a combination of term extension, payment deferral and interest rate reduction modifications.*  | <sup>(1)</sup> *Includes FDM loans modified with a combination of term extension, payment deferral and interest rate reduction modifications.*  | <sup>(1)</sup> *Includes FDM loans modified with a combination of term extension, payment deferral and interest rate reduction modifications.*  | <sup>(1)</sup> *Includes FDM loans modified with a combination of term extension, payment deferral and interest rate reduction modifications.*  |

---

During the three months ended March 31, 2025, consumer and other loans of $14 defaulted that were previously modified in the prior 12 months by receiving a term extension. In addition, during the three months ended March 31, 2025, 1-to-4 family mortgage residential real estate loans of $626 defaulted that were previously modified in the prior 12 months by receiving a combination of payment deferral and term extension. At March 31, 2026 and 2025, the Company did not have any material commitments to lend additional funds to borrowers whose loans were classified as a FDM loan.

The Company closely monitors the performance of the loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The tables below depict the performance of loans HFI as of March 31, 2026 and 2025 made to borrowers experiencing financial difficulty that were modified in the prior 12 months.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **March 31, 2026** | **30-89 days<br>past due and accruing <br>interest** | **90 days or <br>more and accruing <br>interest** | **Nonaccrual**<br>**loans**<sup>(1)</sup> | **Loans current <br>on payments <br>and accruing <br>interest** | **Total** |
| Commercial and industrial | $— | $— | $1955 | $11077 | $13032 |
| Construction |  |  | 17142 |  | 17142 |
| Residential real estate: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;1-to-4 family mortgage | 2765 |  |  | 2087 | 4852 |
| Commercial real estate: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Owner-occupied |  |  | 234 |  | 234 |
| &nbsp;&nbsp;&nbsp;Non-owner occupied |  |  | 1024 | 3582 | 4606 |
| Consumer and other |  |  |  | 141 | 141 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $2765 | $— | $20355 | $16887 | $40007 |

---

*(1) Loans were on nonaccrual when modified and subsequently classified as FDM.*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **March 31, 2025** | **30-89 days<br>past due and accruing <br>interest** | **90 days or <br>more and accruing <br>interest** | **Nonaccrual**<br>**loans**<sup>(1)</sup> | **Loans current <br>on payments <br>and accruing <br>interest** | **Total** |
| Commercial and industrial | $— | $— | $2128 | $152 | $2280 |
| Construction |  |  | 2008 | 539 | 2547 |
| Residential real estate: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;1-to-4 family mortgage | 367 |  |  | 2098 | 2465 |
| &nbsp;&nbsp;&nbsp;Residential line of credit |  |  |  | 28 | 28 |
| Commercial real estate: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Owner-occupied |  |  |  | 143 | 143 |
| Consumer and other | 14 |  |  | 159 | 173 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $381 | $— | $4136 | $3119 | $7636 |

---

*(1) Loans were on nonaccrual when modified and subsequently classified as FDM.*

------

**FB Financial Corporation and subsidiaries**

**Notes to consolidated financial statements**

**(Dollar amounts are in thousands, except share and per share amounts)**

**(Unaudited)**

***Collateral-Dependent Loans***

For collateral-dependent loans, or those loans for which repayment is expected to be provided substantially through the operation or sale of collateral, where the borrower is also experiencing financial difficulty, the following tables present the loans by class of financing receivable.

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** |
| | **Type of Collateral** | **Type of Collateral** | **Type of Collateral** | **Type of Collateral** |
| | **Real Estate** | **Land** | **Business Assets** | **Total** |
| Commercial and industrial | $— | $— | $29095 | $29095 |
| Construction | 44987 | 1653 |  | 46640 |
| Residential real estate: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;1-to-4 family mortgage | 3479 |  |  | 3479 |
| &nbsp;&nbsp;&nbsp;Multi-family mortgage | 9892 |  |  | 9892 |
| Commercial real estate: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Owner occupied | 10113 | 7485 |  | 17598 |
| &nbsp;&nbsp;&nbsp;Non-owner occupied | 10230 |  |  | 10230 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $78701 | $9138 | $29095 | $116934 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| | **Type of Collateral** | **Type of Collateral** | **Type of Collateral** | **Type of Collateral** |
| | **Real Estate** | **Land** | **Business Assets** | **Total** |
| Commercial and industrial | $— | $— | $27222 | $27222 |
| Construction | 35297 | 5497 |  | 40794 |
| Residential real estate: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;1-to-4 family mortgage | 3488 |  |  | 3488 |
| &nbsp;&nbsp;&nbsp;Multi-family mortgage | 7613 |  |  | 7613 |
| Commercial real estate: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Owner occupied | 1883 | 8027 |  | 9910 |
| &nbsp;&nbsp;&nbsp;Non-owner occupied | 10171 |  |  | 10171 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $58452 | $13524 | $27222 | $99198 |

---

***Allowance for Credit Losses on Loans HFI***

Beginning on June 30, 2025, the Company made changes to the estimation techniques and certain related inputs and assumptions used in estimating its expected credit losses on its loan portfolios and unfunded commitments. Prior to the changes, the Company primarily used a lifetime loss rate model to determine the allowance for credit losses. Following a periodic review of its credit loss estimation process, the Company concluded that a discounted cash flow estimation technique, adjusted for current conditions and reasonable and supportable forecasts, is a more preferred approach for estimating expected credit losses of its loan segments, except consumer and other loans, which utilize the weighted average remaining maturity loss rate technique. The applicable CECL estimation technique is used to estimate the expected credit loss for off-balance sheet commitments for each loan segment. Refer to Note 1, "Basis of presentation and summary of significant accounting policies" in the consolidated financial statements in the Company's Annual Report on Form 10-K for the year ended December 31, 2025, that was filed with the SEC on February 26, 2026 for further specific information on the changes.

The Company performed evaluations within its updated qualitative framework, assessing for information not otherwise captured in model loss estimation process. The Company considers the qualitative factors that are relevant to the institution as of the reporting date, which may include, but are not limited to: levels of and trends in delinquencies and performance of loans; levels of and trends in write-offs and recoveries collected; trends in volume and terms of loans; effects of any changes in reasonable and supportable economic forecasts; effects of any changes in risk selection and underwriting standards; other changes in lending policies, procedures, and practices; experience, ability, and depth of lending management and expertise; available relevant information sources that contradict the Company's own forecast; effects of changes in prepayment expectations or other factors affecting assessments of loan contractual terms; industry conditions; and effects of changes in credit concentrations.

------

**FB Financial Corporation and subsidiaries**

**Notes to consolidated financial statements**

**(Dollar amounts are in thousands, except share and per share amounts)**

**(Unaudited)**

The following tables provide the changes in the allowance for credit losses on loans HFI by class of financing receivable for the three months ended March 31, 2026 and 2025:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Commercial <br>and industrial** | **Construction** | **1-to-4 <br>family <br>residential <br>mortgage** | **Residential <br>line of credit** | **Multi-family <br>residential <br>mortgage** | **Commercial <br>real estate <br>owner <br>occupied** | **Commercial <br>real estate <br>non-owner <br>occupied** | **Consumer <br>and other** | **Total** |
| **Three Months Ended March 31, 2026** | **Three Months Ended March 31, 2026** | **Three Months Ended March 31, 2026** | **Three Months Ended March 31, 2026** | **Three Months Ended March 31, 2026** | **Three Months Ended March 31, 2026** | **Three Months Ended March 31, 2026** | **Three Months Ended March 31, 2026** | **Three Months Ended March 31, 2026** | **Three Months Ended March 31, 2026** |
| &nbsp;&nbsp;Beginning balance -<br>December 31, 2025 | $24130 | $25633 | $33218 | $10589 | $12260 | $21609 | $36235 | $22309 | $185983 |
| Loans charged-off | (2168) | (204) | (405) | (23) |  |  |  | (1233) | (4033) |
| &nbsp;&nbsp;Recoveries of loans<br>previously charged-off | 101 | 25 | 8 |  |  | 13 |  | 405 | 552 |
| Provision for (reversal of)<br>&nbsp;&nbsp;&nbsp;&nbsp;credit losses on loans<br>&nbsp;&nbsp;&nbsp;&nbsp;HFI | 3405 | 2069 | 360 | (29) | (1899) | 513 | (1246) | 649 | 3822 |
| &nbsp;&nbsp;Ending balance -<br>March 31, 2026 | $25468 | $27523 | $33181 | $10537 | $10361 | $22135 | $34989 | $22130 | $186324 |

---

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Commercial <br>and industrial** | **Construction** | **1-to-4 <br>family<br>residential<br>mortgage** | **Residential <br>line of credit** | **Multi-family <br>residential <br>mortgage** | **Commercial <br>real estate <br>owner <br>occupied** | **Commercial <br>real estate <br>non-owner <br>occupied** | **Consumer <br>and other** | **Total** |
| **Three Months Ended March 31, 2025** | **Three Months Ended March 31, 2025** | **Three Months Ended March 31, 2025** | **Three Months Ended March 31, 2025** | **Three Months Ended March 31, 2025** | **Three Months Ended March 31, 2025** | **Three Months Ended March 31, 2025** | **Three Months Ended March 31, 2025** | **Three Months Ended March 31, 2025** | |
| &nbsp;&nbsp;Beginning balance -<br>December 31, 2024 | $16667 | $31698 | $25340 | $10952 | $10512 | $11993 | $25531 | $19249 | $151942 |
| Loans charged-off | (2901) |  | (3) |  |  | (17) |  | (972) | (3893) |
| &nbsp;&nbsp;Recoveries of loans<br>previously charged-off | 42 |  | 9 |  |  | 21 | 1 | 503 | 576 |
| Provision for (reversal of)<br>&nbsp;&nbsp;&nbsp;&nbsp;credit losses on loans<br>&nbsp;&nbsp;&nbsp;&nbsp;HFI | 1713 | (6046) | 854 | 244 | 904 | 77 | 2787 | 1373 | 1906 |
| Ending balance -<br> March 31, 2025 | $15521 | $25652 | $26200 | $11196 | $11416 | $12074 | $28319 | $20153 | $150531 |

---

**Note (5)—Other real estate owned**

The amount reported as other real estate owned includes property acquired through foreclosure in addition to excess facilities held for sale and is carried at the lower of the carrying amount of the underlying loan or the fair value of the real estate less costs to sell. The following table summarizes the other real estate owned for the three months ended March 31, 2026 and 2025:

---

| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2026** | **2025** |
| Balance at beginning of period | $6009 | $4409 |
| Transfers from loans | 1277 | 2067 |
| Proceeds from sale of other real estate owned | (871) | (2668) |
| Gain (loss) on sale of other real estate owned | 34 | (482) |
| &nbsp;&nbsp;&nbsp;&nbsp;Balance at end of period | $6449 | $3326 |

---

Included within the other real estate owned balance above, foreclosed residential real estate properties totaled $4,448 and $4,008 as of March 31, 2026 and December 31, 2025, respectively.

The recorded investment in residential mortgage loans secured by residential real estate properties for which foreclosure proceedings are in process totaled $6,607 and $4,732 as of March 31, 2026 and December 31, 2025, respectively.

**Note (6)—Leases**

As of March 31, 2026, the Company was the lessee in 48 operating leases and 1 finance lease of certain branch, mortgage and operations locations with original terms greater than one year.

Many leases include options to renew, with terms that can extend the lease up to an additional 20 years or more. Certain lease agreements contain provisions to periodically adjust rental payments for inflation. Renewal options that

------

**FB Financial Corporation and subsidiaries**

**Notes to consolidated financial statements**

**(Dollar amounts are in thousands, except share and per share amounts)**

**(Unaudited)**

management is reasonably certain to renew and fixed rent escalations are included in the right-of-use asset and lease liability.

Information related to the Company's leases is presented below as of March 31, 2026 and December 31, 2025:

---

| | | | |
|:---|:---|:---|:---|
| | | **March 31,** | **December 31,** |
| |<br>**Classification** | **2026** | **2025** |
| Right-of-use assets: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating leases | Operating lease right-of-use assets | $48223 | $49249 |
| &nbsp;&nbsp;&nbsp;&nbsp;Finance leases | Premises and equipment, net | 1007 | 1035 |
| Total right-of-use assets |  | $49230 | $50284 |
| Lease liabilities: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating leases | Operating lease liabilities | $59106 | $60556 |
| &nbsp;&nbsp;&nbsp;&nbsp;Finance leases | Borrowings | 1103 | 1127 |
| Total lease liabilities |  | $60209 | $61683 |
| Weighted average remaining lease term (in years) - <br>&nbsp;&nbsp;&nbsp;&nbsp;operating |  | 10.7 | 10.9 |
| Weighted average remaining lease term (in years) - <br>&nbsp;&nbsp;&nbsp;&nbsp;finance |  | 9.11 | 9.35 |
| Weighted average discount rate - operating |  | 3.70% | 3.68% |
| Weighted average discount rate - finance |  | 1.76% | 1.76% |

---

The components of total lease expense included in the consolidated statements of income were as follows:

---

| | | | |
|:---|:---|:---|:---|
| | | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| |<br>**Classification** | **2026** | **2025** |
| Operating lease costs: |  |  |  |
| &nbsp;&nbsp;&nbsp;Amortization of right-of-use asset | Occupancy and equipment | $1854 | $1878 |
| &nbsp;&nbsp;&nbsp;Short-term lease cost | Occupancy and equipment | 75 | 85 |
| &nbsp;&nbsp;&nbsp;Variable lease cost | Occupancy and equipment | 480 | 494 |
| Finance lease costs: |  |  |  |
| &nbsp;&nbsp;&nbsp;Interest on lease liabilities | Interest expense on borrowings | 5 | 5 |
| &nbsp;&nbsp;&nbsp;Amortization of right-of-use asset | Occupancy and equipment | 28 | 28 |
| Sublease income | Occupancy and equipment | (212) | (205) |
| &nbsp;&nbsp;&nbsp;Total lease cost |  | $2230 | $2285 |

---

The Company does not separate lease and non-lease components and instead elects to account for them as a single lease component. Variable lease cost primarily represents variable payments such as common area maintenance, utilities, and property taxes.

A maturity analysis of operating and finance lease liabilities and a reconciliation of cash flows to lease liabilities as of March 31, 2026 is as follows:

---

| | | |
|:---|:---|:---|
| | **Operating**<br>**Leases** | **Finance**<br>**Lease** |
| &nbsp;&nbsp;&nbsp;March 31, 2027 | $6840 | $93 |
| &nbsp;&nbsp;&nbsp;March 31, 2028 | 8646 | 125 |
| &nbsp;&nbsp;&nbsp;March 31, 2029 | 7772 | 127 |
| &nbsp;&nbsp;&nbsp;March 31, 2030 | 6657 | 129 |
| &nbsp;&nbsp;&nbsp;March 31, 2031 | 6251 | 131 |
| &nbsp;&nbsp;&nbsp;Thereafter | 36614 | 590 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total undiscounted future minimum lease payments | 72780 | 1195 |
| &nbsp;&nbsp;Less: imputed interest | (13674) | (92) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lease liabilities | $59106 | $1103 |

---

------

**FB Financial Corporation and subsidiaries**

**Notes to consolidated financial statements**

**(Dollar amounts are in thousands, except share and per share amounts)**

**(Unaudited)**

**Note (7)—Mortgage servicing rights**

Changes in the Company's mortgage servicing rights were as follows for the three months ended March 31, 2026 and 2025:

---

| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2026** | **2025** |
| Carrying value at beginning of period | $148795 | $162038 |
| Capitalization | 1272 | 421 |
| Change in fair value: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Due to payoffs/paydowns | (3298) | (3111) |
| &nbsp;&nbsp;&nbsp;&nbsp;Due to change in valuation inputs or assumptions | 575 | (2969) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Carrying value at end of period | $147344 | $156379 |

---

The following table summarizes servicing income and expense, which are included in mortgage banking income and other noninterest expense, respectively, in the consolidated statements of income for the three months ended March 31, 2026 and 2025:

---

| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2026** | **2025** |
| Servicing income | $6580 | $7077 |
| &nbsp;&nbsp;&nbsp;&nbsp;Change in fair value of mortgage servicing rights | (2723) | (6080) |
| &nbsp;&nbsp;&nbsp;&nbsp;Change in fair value of derivative hedging instruments | (1129) | 3011 |
| Servicing income | 2728 | 4008 |
| Servicing expenses | 1537 | 1722 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net servicing income | $1191 | $2286 |

---

Data and key economic assumptions, as well as the valuation's sensitivity to interest rate fluctuations, related to the Company's mortgage servicing rights as of March 31, 2026 and December 31, 2025 are as follows:

---

| | | |
|:---|:---|:---|
| | **March 31,** | **December 31,** |
| | **2026** | **2025** |
| Unpaid principal balance of mortgage loans sold and serviced for others | $9455049 | $9588948 |
| Weighted-average prepayment speed (CPR) | 6.36% | 6.38% |
| &nbsp;&nbsp;&nbsp;&nbsp;Estimated impact on fair value of a 10% increase | $(3980) | $(4026) |
| &nbsp;&nbsp;&nbsp;&nbsp;Estimated impact on fair value of a 20% increase | $(7720) | $(7812) |
| Discount rate | 9.87% | 9.68% |
| &nbsp;&nbsp;&nbsp;&nbsp;Estimated impact on fair value of a 100 bp increase | $(6867) | $(6986) |
| &nbsp;&nbsp;&nbsp;&nbsp;Estimated impact on fair value of a 200 bp increase | $(13161) | $(13390) |
| Weighted-average coupon interest rate | 3.68% | 3.67% |
| Weighted-average servicing fee (basis points) | 27 | 27 |
| Weighted-average remaining maturity (in months) | 338 | 338 |

---

The sensitivity calculations above are hypothetical changes and should not be considered to be predictive of future performance. Changes in fair value based on adverse changes in assumptions generally cannot be extrapolated because the relationship of the change in assumption to the change in fair value may not be linear. Also, the effect of an adverse variation in a particular assumption on the fair value of the mortgage servicing rights is calculated without changing any other assumption, while in reality changes in one factor may result in changes in another, which may either magnify or counteract the effect of the change. The derivative instruments utilized by the Company, which were not included in the above sensitivities, would serve to offset the estimated impacts to fair value included in the table above. See Note 10, "Derivatives" for additional information on these derivative instruments.

As of March 31, 2026 and December 31, 2025, the Company held mortgage escrow deposits totaling $93,961 and $69,055, respectively, related to loans sold with servicing retained.

------

**FB Financial Corporation and subsidiaries**

**Notes to consolidated financial statements**

**(Dollar amounts are in thousands, except share and per share amounts)**

**(Unaudited)**

**Note (8)—Income taxes**

The following table presents a reconciliation of federal income taxes at the statutory federal rate of 21.0% to the Company's effective tax rates for the three months ended March 31, 2026:

---

| | | | |
|:---|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2026** | **2026** | **2026** |
| Federal taxes calculated at statutory rate | $| 15572 | 21.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;Increase (decrease) resulting from: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;State taxes, net of federal benefit<sup>(1)</sup> | 2357 | 2357 | 3.2% |
| &nbsp;&nbsp;&nbsp;&nbsp;State tax credits, net of federal benefit<sup>(1)</sup> | (774) | (774) | (1.0)% |
| &nbsp;&nbsp;&nbsp;&nbsp;New market tax credits | (160) | (160) | (0.2)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Nondeductible/nontaxable items: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Municipal interest income, net of interest disallowance | (410) | (410) | (0.6)% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 162(m) limitation | 685 | 685 | 0.9% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | (41) | (41) | (0.1)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Other | (603) | (603) | (0.8)% |
| Income tax expense, as reported | $| 16626 | 22.4% |
| *(1) State of Tennessee makes up the majority (more than 50%) of the total of state taxes and state tax credits.* | *(1) State of Tennessee makes up the majority (more than 50%) of the total of state taxes and state tax credits.* | *(1) State of Tennessee makes up the majority (more than 50%) of the total of state taxes and state tax credits.* | *(1) State of Tennessee makes up the majority (more than 50%) of the total of state taxes and state tax credits.* |

---

The following table presents a reconciliation of federal income taxes at the statutory federal rate of 21.0% to the Company's effective tax rates for the three months ended March 31, 2025:

---

| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2025** | **2025** |
| Federal taxes calculated at statutory rate | $10255 | 21.0% |
| &nbsp;&nbsp;&nbsp;&nbsp;Increase (decrease) resulting from: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;State taxes, net of federal benefit | 459 | 0.9% |
| &nbsp;&nbsp;&nbsp;&nbsp;Benefit from stock-based compensation | (133) | (0.3)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Municipal interest income, net of interest disallowance | (396) | (0.8)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Bank-owned life insurance | (94) | (0.2)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Section 162(m) limitation | 586 | 1.2% |
| &nbsp;&nbsp;&nbsp;&nbsp;Other | (1206) | (2.4)% |
| Income tax expense, as reported | $9471 | 19.4% |

---

**Note (9)—Commitments and contingencies**

***Commitments to extend credit and letters of credit***

The Company issues certain financial instruments to meet customer financing needs, including loan commitments, credit lines and letters of credit. The agreements associated with these type of unfunded loan commitments provide credit or support the credit of others, as long as conditions established in the contract are met, and usually have expiration dates.

The same credit and underwriting policies the Company uses to evaluate and underwrite loans are also used to originate unfunded loan commitments, including obtaining collateral at exercise of the commitment. These unfunded loan commitments are only recorded in the consolidated financial statements when drawn upon and many expire without being used. The Company's maximum off-balance sheet exposure to credit loss from these unfunded loan commitments is represented by the contractual amount of these instruments.

------

**FB Financial Corporation and subsidiaries**

**Notes to consolidated financial statements**

**(Dollar amounts are in thousands, except share and per share amounts)**

**(Unaudited)**

---

| | | |
|:---|:---|:---|
| | **March 31,** | **December 31,** |
| | **2026** | **2025** |
| Commitments to extend credit, excluding interest rate lock commitments | $3236977 | $3198502 |
| Letters of credit | 70869 | 61610 |
| &nbsp;&nbsp;&nbsp;&nbsp;Balance at end of period | $3307846 | $3260112 |

---

As of March 31, 2026 and December 31, 2025, unfunded loan commitments included above with floating interest rates totaled $3,031,225 and $3,012,819, respectively.

Beginning on June 30, 2025, a discounted cash flow estimation technique, adjusted for current conditions and reasonable and supportable forecasts, was utilized to estimate the expected credit losses of its loan segments, except consumer and other loans, which utilize the weighted average remaining maturity loss rate technique. Refer to Note 1, "Basis of presentation and summary of significant accounting policies" in the consolidated financial statements in the Company's Annual Report on Form 10-K for the year ended December 31, 2025, that was filed with the SEC on February 26, 2026 for further specific information on the changes.

As part of the credit loss process, the Company estimates expected credit losses on its unfunded loan commitments under the CECL methodology. When applying this methodology, the Company considers the likelihood that funding will occur, the contractual period of exposure to credit loss, the risk of loss, historical loss experience, and current conditions along with expectations of future economic conditions.

The table below presents activity within the allowance for credit losses on unfunded loan commitments included in accrued expenses and other liabilities on the Company's consolidated balance sheets:

---

| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2026** | **2025** |
| Balance at beginning of period | $16196 | $6107 |
| (Reversal of) provision for credit losses on unfunded commitments | (798) | 386 |
| &nbsp;&nbsp;&nbsp;&nbsp;Balance at end of period | $15398 | $6493 |

---

***Loan repurchases or indemnifications***

In connection with the sale of mortgage loans to third-party private investors or government sponsored agencies, the Company makes representations and warranties as to the propriety of its origination activities, which are typical and customary to these types of transactions. Occasionally, investors require the Company to repurchase loans sold to them or otherwise indemnify the investor against certain losses under the terms of the warranties. When the Company is required to repurchase the loans, the loans are recorded at fair value in loans HFI. The total principal amount of loans repurchased or indemnified for was $1,011 and $1,233 for the three months ended March 31, 2026 and 2025, respectively.

At March 31, 2026 and December 31, 2025, the Company had $827 and $696, respectively, of reserves associated with potential losses on loans previously sold included in accrued expenses and other liabilities on the Company's consolidated balance sheets.

***Legal Proceedings***

Various legal claims arise from time to time in the normal course of business, which, in the opinion of management, will not have a material effect on the Company's consolidated financial statements.

------

**FB Financial Corporation and subsidiaries**

**Notes to consolidated financial statements**

**(Dollar amounts are in thousands, except share and per share amounts)**

**(Unaudited)**

**Note (10)—Derivatives**

The Company utilizes derivative financial instruments as part of its ongoing efforts to manage its interest rate risk exposure as well as interest rate exposure for its customers. Derivative financial instruments are included in the consolidated balance sheets line item other assets or other liabilities at fair value in accordance with ASC 815, "Derivatives and Hedging." See Note 1, "Basis of presentation and summary of significant accounting policies," in the Company's Annual Report on Form 10-K for the year ended December 31, 2025 for additional information on the Company's accounting policies related to derivative instruments and hedging activities.

As of March 31, 2026 and December 31, 2025, the Company did not have any derivatives designated as fair value or cash flow hedges.

***Derivatives not designated as hedging instruments***

Derivatives not designated under hedge accounting rules include those that are entered into as either economic hedges as part of the Company's overall risk management strategy or to facilitate client needs. Economic hedges are those that are not designated as a fair value or cash flow hedge for accounting purposes but are necessary to economically manage the risk exposure associated with the assets and liabilities of the Company.

The Company enters into derivative instruments to help its commercial customers manage their exposure to interest rate fluctuations. To mitigate the interest rate risk associated with customer contracts, the Company enters into an offsetting derivative contract. The Company manages its credit risk, or potential risk of default by its commercial customers through credit limit approval and monitoring procedures.

The Company enters into interest rate-lock commitments on residential loan commitments that will be held for resale. These are considered derivative instruments with no hedge accounting designation, and the interest rate exposure on these commitments is economically hedged primarily with forward contracts. Gains and losses arising from changes in the valuation of the interest rate-lock commitments are recognized currently in earnings and are reflected under the line-item mortgage banking income in the consolidated statements of income.

The Company also enters into forwards, futures and option contracts to economically hedge the change in fair value of mortgage servicing rights. Gains and losses associated with these instruments are included in earnings and are reflected under the line-item mortgage banking income in the consolidated statements of income.

The following tables provide details on the Company's non-designated derivative financial instruments as of the dates presented:

---

| | | | |
|:---|:---|:---|:---|
| | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** |
| | **Notional Amount** | **Asset** | **Liability** |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest rate contracts | $686547 | $21276 | $21305 |
| &nbsp;&nbsp;&nbsp;&nbsp;Forward commitments | 328500 | 1101 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest rate-lock commitments | 133669 | 1908 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Futures contracts | 191500 |  | 1279 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $1340216 | $24285 | $22584 |

---

---

| | | | |
|:---|:---|:---|:---|
| | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| | **Notional Amount** | **Asset** | **Liability** |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest rate contracts | $654705 | $23020 | $23080 |
| &nbsp;&nbsp;&nbsp;&nbsp;Forward commitments | 240500 |  | 168 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest rate-lock commitments | 86586 | 1296 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Futures contracts | 185000 |  | 261 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $1166791 | $24316 | $23509 |

---

------

**FB Financial Corporation and subsidiaries**

**Notes to consolidated financial statements**

**(Dollar amounts are in thousands, except share and per share amounts)**

**(Unaudited)**

Gains (losses) included in the consolidated statements of income related to the Company's non-designated derivative financial instruments were as follows:

---

| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2026** | **2025** |
| Included in mortgage banking income: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest rate lock commitments | $612 | $1421 |
| &nbsp;&nbsp;&nbsp;&nbsp;Forward commitments | 218 | (209) |
| &nbsp;&nbsp;&nbsp;&nbsp;Futures contracts | (214) | 2311 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $616 | $3523 |

---

***Netting of Derivative Instruments***

Certain financial instruments, including derivatives, may be subject to master netting arrangements with counterparties. However, the Company does not offset derivative assets and liabilities on the consolidated balance sheets, as it has not established a legally enforceable right of offset.

The following table presents the Company's gross derivative assets and liabilities recognized on the consolidated balance sheets and the potential effect of offsetting under master netting arrangements, including collateral pledged, for disclosure purposes only. Collateral is reflected only to the extent it would offset a derivative liability position.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | | | **Gross amounts not offset on the consolidated balance sheets** | **Gross amounts not offset on the consolidated balance sheets** | |
| |<br>**Gross amounts recognized** |<br>**Gross amounts offset on the consolidated balance sheets** |<br>**Net amounts presented on the consolidated balance sheets** | **Financial instruments** | **Financial collateral pledged** |<br>**Net Amount** |
| **March 31, 2026** | | | | | | |
| Derivative financial assets | $17338 | $— | $17338 | $3997 | $— | $13341 |
| Derivative financial liabilities | $5971 | $— | $5971 | $3997 | $1974 | $— |
| **December 31, 2025** |  |  |  |  |  |  |
| Derivative financial assets | $17348 | $— | $17348 | $5824 | $— | $11524 |
| Derivative financial liabilities | $7696 | $— | $7696 | $5824 | $1872 | $— |

---

***Collateral Requirements***

Most derivative contracts are secured by collateral. Accordingly, pursuant to the interest rate agreements with derivative counterparties, the Company may be required to accept or post collateral with these derivative counterparties. As of March 31, 2026 and December 31, 2025, the Company had collateral posted of $33,886 and $30,675, respectively, against its obligations under these agreements. Cash pledged as collateral on derivative contracts is recorded in other assets on the consolidated balance sheets.

**Note (11)—Fair value of financial instruments**

ASC 820-10 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820-10 also establishes a framework for measuring the fair value of assets and liabilities according to a hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets and liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The hierarchy maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that are derived from assumptions based on management's estimate of assumptions that market participants would use in pricing the asset or liability based on the best information available under the circumstances.

------

**FB Financial Corporation and subsidiaries**

**Notes to consolidated financial statements**

**(Dollar amounts are in thousands, except share and per share amounts)**

**(Unaudited)**

The hierarchy is broken down into the following three levels, based on the reliability of inputs:

Level 1: Unadjusted quoted prices in active markets for identical assets or liabilities that are accessible at the measurement date.

Level 2: Significant other observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active or other inputs that are observable or can be corroborated by observable market data.

Level 3: Significant unobservable inputs for assets or liabilities that are derived from assumptions based on management's estimate of assumptions that market participants would use in pricing the assets or liabilities.

The Company records the fair values of financial assets and liabilities on a recurring and nonrecurring basis using the following methods and assumptions:

---

| | |
|:---|:---|
| Investment securities | Investment securities are recorded at fair value on a recurring basis. Fair values for securities are based on quoted market prices, where available. If quoted prices are not available, fair values are based on quoted market prices of similar instruments or are determined by matrix pricing, which is a mathematical technique widely used in the industry to value debt securities without relying exclusively on quoted prices for the specific securities but rather by relying on the pricing relationship or correlation among other benchmark quoted securities. Investment securities valued using quoted market prices of similar instruments or that are valued using matrix pricing are classified as Level 2.  |
| Loans held for sale | Mortgage loans held for sale are carried at fair value determined using current secondary market prices for loans with similar characteristics, that is, using Level 2 inputs.  |
| Derivatives | The fair value of the Company's interest rate swap agreements to facilitate customer transactions is based on fair values obtained from entities that engage in interest rate swap activity and reflects projected future cash flows and interest rates. The fair value of interest rate lock commitments associated with the mortgage pipeline is based on fees currently charged to enter into similar agreements, and for fixed-rate commitments, also reflects the difference between current market interest rates and the committed rates. The fair values of the Company's derivatives are determined using pricing models that incorporate observable market inputs. These financial instruments are classified as Level 2. |
| OREO | OREO is comprised of properties obtained in partial or total satisfaction of loan obligations and excess land and facilities held for sale. OREO acquired in settlement of indebtedness is recorded at the lower of the carrying amount of the loan or the fair value of the real estate less costs to sell. Fair value is determined on a nonrecurring basis based on appraisals by qualified licensed appraisers and is adjusted for management's estimates of costs to sell and holding period discounts. OREO valuations are classified as Level 3.  |
| Mortgage servicing rights | MSRs are carried at fair value. Fair value is determined using an income approach with various assumptions including expected cash flows, market discount rates, prepayment speeds, servicing costs, and other factors. As such, MSRs are considered Level 3.  |
| Collateral- dependent loans | Collateral-dependent loans are loans for which, based on current information and events, the Company has determined foreclosure of the collateral is probable, or where the borrower is experiencing financial difficulty and the Company expects repayment of the loan to be provided substantially through the operation or sale of the collateral and it is probable that the creditor will be unable to collect all amounts due according to the contractual terms of the loan agreement. Collateral-dependent loans are classified as Level 3.  |

---

------

**FB Financial Corporation and subsidiaries**

**Notes to consolidated financial statements**

**(Dollar amounts are in thousands, except share and per share amounts)**

**(Unaudited)**

The balances and levels of the assets and liabilities measured at fair value on a recurring basis as of March 31, 2026 and December 31, 2025 are presented in the following tables:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **At March 31, 2026** | **Quoted prices<br>in active<br>markets for<br>identical assets<br>(liabilities)<br>(level 1)** | **Significant <br>other <br>observable <br>inputs <br>(level 2)** | **Significant unobservable <br>inputs <br>(level 3)** | **Total** |
| Financial assets: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;AFS debt securities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. government agency securities | $— | $713910 | $— | $713910 |
| &nbsp;&nbsp;&nbsp;&nbsp;Mortgage-backed securities - residential |  | 599180 |  | 599180 |
| &nbsp;&nbsp;&nbsp;&nbsp;Mortgage-backed securities - commercial |  | 10632 |  | 10632 |
| &nbsp;&nbsp;&nbsp;&nbsp;Municipal securities |  | 166033 |  | 166033 |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury securities |  | 7092 |  | 7092 |
| &nbsp;&nbsp;&nbsp;&nbsp;Corporate securities |  | 1700 |  | 1700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total securities | $— | $1498547 | $— | $1498547 |
| &nbsp;&nbsp;&nbsp;Loans held for sale, at fair value | $— | $198769 | $— | $198769 |
| &nbsp;&nbsp;&nbsp;Mortgage servicing rights |  |  | 147344 | 147344 |
| &nbsp;&nbsp;&nbsp;Derivatives |  | 24285 |  | 24285 |
| Financial Liabilities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Derivatives |  | 22584 |  | 22584 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **At December 31, 2025** | **Quoted prices<br>in active<br>markets for<br>identical assets<br>(liabilities)<br>(level 1)** | **Significant <br>other <br>observable <br>inputs <br>(level 2)** | **Significant unobservable <br>inputs <br>(level 3)** | **Total** |
| Financial assets: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;AFS debt securities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. government agency securities | $— | $670088 | $— | $670088 |
| &nbsp;&nbsp;&nbsp;&nbsp;Mortgage-backed securities - residential |  | 602320 |  | 602320 |
| &nbsp;&nbsp;&nbsp;&nbsp;Mortgage-backed securities - commercial |  | 10678 |  | 10678 |
| &nbsp;&nbsp;&nbsp;&nbsp;Municipal securities |  | 168370 |  | 168370 |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury securities |  | 7125 |  | 7125 |
| &nbsp;&nbsp;&nbsp;&nbsp;Corporate securities |  | 998 |  | 998 |
| &nbsp;&nbsp;&nbsp;Equity securities, at fair value |  | 155 |  | 155 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total securities | $— | $1459734 | $— | $1459734 |
| &nbsp;&nbsp;&nbsp;Loans held for sale, at fair value | $— | $172974 | $— | $172974 |
| &nbsp;&nbsp;&nbsp;Mortgage servicing rights |  |  | 148795 | 148795 |
| &nbsp;&nbsp;&nbsp;Derivatives |  | 24316 |  | 24316 |
| Financial Liabilities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Derivatives |  | 23509 |  | 23509 |

---

------

**FB Financial Corporation and subsidiaries**

**Notes to consolidated financial statements**

**(Dollar amounts are in thousands, except share and per share amounts)**

**(Unaudited)**

The balances and levels of the assets measured at fair value on a nonrecurring basis as of March 31, 2026 and December 31, 2025 are presented in the following tables:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **At March 31, 2026** | **Quoted prices<br>in active<br>markets for<br>identical assets<br>(liabilities <br>(level 1)** | **Significant <br>other <br>observable <br>inputs <br>(level 2)** | **Significant unobservable <br>inputs <br>(level 3)** | **Total** |
| Financial assets: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Other real estate owned | $— | $— | $1063 | $1063 |
| &nbsp;&nbsp;&nbsp;Collateral-dependent net loans held for<br> investment: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial and industrial |  |  | 3676 | 3676 |
| &nbsp;&nbsp;&nbsp;&nbsp;Construction |  |  | 16042 | 16042 |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential real estate: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1-to-4 family mortgage |  |  | 262 | 262 |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial real estate: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Owner occupied |  |  | 6503 | 6503 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-owner occupied |  |  | 640 | 640 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total collateral-dependent loans | $— | $— | $27123 | $27123 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **At December 31, 2025** | **Quoted prices<br>in active<br>markets for<br>identical assets<br>(liabilities)<br>(level 1)** | **Significant <br>other <br>observable <br>inputs <br>(level 2)** | **Significant unobservable <br>inputs <br>(level 3)** | **Total** |
| Nonrecurring valuations: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Other real estate owned | $— | $— | $4757 | $4757 |
| &nbsp;&nbsp;&nbsp;Collateral-dependent net loans held for<br>&nbsp;&nbsp;&nbsp;&nbsp;investment: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial and industrial | $— | $— | $1538 | $1538 |
| &nbsp;&nbsp;&nbsp;&nbsp;Construction |  |  | 18281 | 18281 |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential real estate: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1-to-4 family mortgage |  |  | 287 | 287 |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial real estate: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Owner occupied |  |  | 5479 | 5479 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-owner occupied |  |  | 640 | 640 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total collateral-dependent loans | $— | $— | $26225 | $26225 |

---

------

**FB Financial Corporation and subsidiaries**

**Notes to consolidated financial statements**

**(Dollar amounts are in thousands, except share and per share amounts)**

**(Unaudited)**

The significant unobservable inputs (Level 3) used in the valuation and changes in fair value associated with the Company's mortgage servicing rights for the three months ended March 31, 2026 and 2025 are detailed at Note 7, "Mortgage servicing rights."

The following tables present information as of March 31, 2026 and December 31, 2025 about significant unobservable inputs (Level 3) used in the valuation of assets measured at fair value on a nonrecurring basis:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **March 31, 2026** | | | | |
| **Financial instrument** | **Fair Value** | **Valuation technique** | **Significant <br>unobservable inputs** | **Range of<br>inputs** |
| Collateral-dependent net loans<br> held for investment | $27123 | Appraised value | Discount for costs to sell | 0%-100% |
| Other real estate owned | $1063 | Appraised value | Discount for costs to sell | 0%-10% |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **December 31, 2025** | | | | |
| **Financial instrument** | **Fair Value** | **Valuation technique** | **Significant <br>unobservable inputs** | **Range of<br>inputs** |
| Collateral-dependent net loans<br>&nbsp;&nbsp;&nbsp;&nbsp;held for investment | $26225 | Appraised value | Discount for costs to sell | 10%-22% |
| Other real estate owned | $4757 | Appraised value | Discount for costs to sell | 0%-10% |

---

Fair value for collateral-dependent loans is determined based on the estimated value of the collateral securing the loans, less estimated selling costs and closing costs related to liquidation of the collateral. For loans secured by real estate, the fair value is determined based on appraisals performed by qualified appraisers and reviewed by qualified personnel. For non-real estate collateral, fair value is determined based on various sources, including third party asset valuation and internally determined values based on cost adjusted or other judgmentally determined factors. Collateral-dependent loans are reviewed and evaluated on at least a quarterly basis for additional impairment and adjusted accordingly, based on changes in market conditions from the time of valuation and management's knowledge of the borrower and borrower's business. As of March 31, 2026 and December 31, 2025, total amortized cost of collateral-dependent loans measured on a nonrecurring basis amounted to $34,961 and $29,057, respectively. The allowance for credit losses is calculated as the amount for which the loan's amortized cost basis exceeds fair value.

Other real estate owned acquired in settlement of indebtedness is recorded at fair value of the real estate less estimated costs to sell. Subsequently, it may be necessary to record nonrecurring fair value adjustments for declines in fair value. Any write-downs based on the asset's fair value at the date of foreclosure are charged to the allowance for credit losses.

Appraisals for both collateral-dependent loans and other real estate owned are performed by certified appraisers whose qualifications and licenses have been reviewed and verified by the Company. Once received, a member of the lending administrative department reviews the assumptions and approaches utilized in the appraisal as well as the overall resulting fair value in comparison with independent data sources such as recent market data or industry wide statistics. Collateral-dependent loans that are dependent on recovery through sale of equipment, such as farm equipment, automobiles and aircrafts are generally valued based on public source pricing or subscription services while more complex assets are valued through leveraging brokers who have expertise in the collateral involved.

**Fair value option**

The following table summarizes the Company's loans held for sale as of the dates presented:

---

| | | |
|:---|:---|:---|
| | **March 31,** | **December 31,** |
| | **2026** | **2025** |
| Loans held for sale under a fair value option: |  |  |
| &nbsp;&nbsp; Mortgage loans held for sale | 198769 | 172974 |
| Loans held for sale not accounted for under a fair value option: |  |  |
| &nbsp;&nbsp; Mortgage loans held for sale - guaranteed GNMA repurchase option | 32590 | 28102 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total loans held for sale | $231359 | $201076 |

---

------

**FB Financial Corporation and subsidiaries**

**Notes to consolidated financial statements**

**(Dollar amounts are in thousands, except share and per share amounts)**

**(Unaudited)**

***Mortgage loans held for sale***

Net (losses) gains of $(1,690) and $2,201 resulting from changes in the fair value of mortgage loans held for sale were recorded in income for the three months ended March 31, 2026 and 2025, respectively. The Company also recognized fair value changes on derivative instruments used to hedge market-related risk associated with these mortgage loans. When combined with the fair value changes of the underlying loans, the total net gains were $1,008 and $2,816 for the three months ended March 31, 2026 and 2025, respectively.

The Company's valuation of mortgage loans held for sale incorporates an assumption for credit risk; however, given the short-term period that the Company holds these mortgage loans held for sale, valuation adjustments attributable to instrument-specific credit risk is nominal.

The following table summarizes the differences between the fair value and the principal balance for mortgage loans held for sale measured at fair value as of March 31, 2026 and December 31, 2025:

---

| | | |
|:---|:---|:---|
| | **March 31,** | **December 31,** |
| | **2026** | **2025** |
| Aggregate fair value | $198769 | $172974 |
| Aggregate unpaid principal balance | 196177 | 168692 |
| &nbsp;&nbsp;&nbsp;&nbsp; Difference | $2592 | $4282 |

---

The following table contains the estimated fair values and the related carrying values of the Company's financial instruments. Non-financial instruments are excluded from the table below.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Fair Value** | **Fair Value** | **Fair Value** | **Fair Value** |
|<br>**March 31, 2026** |<br>**Carrying amount** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Financial assets: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | $1157763 | $1157763 | $— | $— | $1157763 |
| &nbsp;&nbsp;&nbsp;&nbsp;Investment securities | 1498547 |  | 1498547 |  | 1498547 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net loans HFI | 12317491 |  |  | 12286566 | 12286566 |
| &nbsp;&nbsp;&nbsp;&nbsp;Loans held for sale, at fair value | 198769 |  | 198769 |  | 198769 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest receivable | 59837 | 704 | 7844 | 51289 | 59837 |
| &nbsp;&nbsp;&nbsp;&nbsp;Mortgage servicing rights | 147344 |  |  | 147344 | 147344 |
| &nbsp;&nbsp;&nbsp;&nbsp;Derivatives | 24285 |  | 24285 |  | 24285 |
| Financial liabilities: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Deposits: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Without stated maturities | $11193563 | $11193563 | $— | $— | $11193563 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;With stated maturities | 2883272 |  | 2882117 |  | 2882117 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Securities sold under agreements to<br>repurchase and federal funds purchased | 95498 | 95498 |  |  | 95498 |
| &nbsp;&nbsp;&nbsp;&nbsp;Subordinated debt, net | 83997 |  |  | 90827 | 90827 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest payable | 24111 | 3358 | 20753 |  | 24111 |
| &nbsp;&nbsp;&nbsp;&nbsp;Derivatives | 22584 |  | 22584 |  | 22584 |

---

------

**FB Financial Corporation and subsidiaries**

**Notes to consolidated financial statements**

**(Dollar amounts are in thousands, except share and per share amounts)**

**(Unaudited)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Fair Value** | **Fair Value** | **Fair Value** | **Fair Value** | **Fair Value** |
|<br>**December 31, 2025** | **Carrying amount** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Financial assets: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | $1155895 | $1155895 | $— | $— | $1155895 |
| &nbsp;&nbsp;&nbsp;&nbsp;Investment securities | 1459734 |  | 1459734 |  | 1459734 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net loans HFI | 12197643 |  |  | 12155340 | 12155340 |
| &nbsp;&nbsp;&nbsp;&nbsp;Loans held for sale, at fair value | 172974 |  | 172974 |  | 172974 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest receivable | 58565 | 463 | 7962 | 50140 | 58565 |
| &nbsp;&nbsp;&nbsp;&nbsp;Mortgage servicing rights | 148795 |  |  | 148795 | 148795 |
| &nbsp;&nbsp;&nbsp;&nbsp;Derivatives | 24316 |  | 24316 |  | 24316 |
| Financial liabilities: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Deposits: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Without stated maturities | $11255404 | $11255404 | $— | $— | $11255404 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;With stated maturities | 2654557 |  | 2655532 |  | 2655532 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Securities sold under agreements to<br>repurchase and federal funds purchased | 99865 | 99865 |  |  | 99865 |
| &nbsp;&nbsp;&nbsp;&nbsp;Subordinated debt, net | 83670 |  |  | 88281 | 88281 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest payable | 21549 | 3677 | 17872 |  | 21549 |
| &nbsp;&nbsp;&nbsp;&nbsp;Derivatives | 23509 |  | 23509 |  | 23509 |

---

**Note (12)—Segment reporting**

The Company and the Bank are engaged in the business of banking and provide a full range of financial services to its customers. The Company determines reportable segments based on the significance of the segment's operating results to the overall Company, the products and services offered, customer characteristics, processes and service delivery of the segments and the regular financial performance review and allocation of resources by the Chief Executive Officer, the Company's chief operating decision maker. The Company has identified two distinct reportable segments—Banking and Mortgage. The Company's primary segment is Banking, which provides a full range of deposit and lending products and services to corporate, commercial and consumer customers. The Company also originates conforming residential mortgage loans through its Mortgage segment, whose activities include the servicing of residential mortgage loans and securitization of loans to third party private investors or government sponsored agencies.

The chief operating decision maker uses income before income taxes as the measure of segment profit or loss to assess the performance of and allocate resources to each segment. Interest income provides the primary revenue in the Banking segment, and mortgage banking income provides the primary revenue in the Mortgage segment. Interest expense, provision for credit losses, salaries, commissions, employee benefits and merger and integration costs provide the significant expenses in the Banking segment, and salaries, commissions and employee benefits provide the significant expenses in the Mortgage segment. These figures are regularly provided to the chief operating decision maker and are monitored through budget-to-actual variance review.

The Company assigns a transfer rate to allocate net interest income to products and business segments. Through this process, the Company formulates a loan funding charge and a deposit funding credit for its entire loan and deposit portfolios. The intent of the transfer rate methodology is to transfer interest rate risk among the segments and allow management to better measure the net interest margin contribution of its products and business segments. Changes in management structure or allocation methodologies and procedures result in changes in reported segment financial data. Prior period results have been adjusted to conform to the current methodology.

------

**FB Financial Corporation and subsidiaries**

**Notes to consolidated financial statements**

**(Dollar amounts are in thousands, except share and per share amounts)**

**(Unaudited)**

The following tables present selected financial information with respect to the Company's reportable segments for the three months ended March 31, 2026 and 2025.

---

| | | | |
|:---|:---|:---|:---|
| **Three Months Ended March 31, 2026** | **Banking** | **Mortgage** | **Consolidated** |
| Interest income | $223418 | $1932 | $225350 |
| Interest expense | 80296 | (911) | 79385 |
| &nbsp;&nbsp;Net interest income | 143122 | 2843 | 145965 |
| Provisions for credit losses | 1987 | 1037 | 3024 |
| &nbsp;&nbsp;Net interest income after provision for credit losses | 141135 | 1806 | 142941 |
| Mortgage banking income |  | 12253 | 12253 |
| Other noninterest (loss) income | 13962 | 160 | 14122 |
| &nbsp;&nbsp;Total noninterest (loss) income | 13962 | 12413 | 26375 |
| Salaries, commissions and employee benefits | 49364 | 7984 | 57348 |
| Merger and integration costs | 1447 |  | 1447 |
| Depreciation and amortization | 3131 | 12 | 3143 |
| Amortization of intangibles | 1869 |  | 1869 |
| Other noninterest expense<sup>(1)</sup> | 25765 | 5592 | 31357 |
| &nbsp;&nbsp;Total noninterest expense | 81576 | 13588 | 95164 |
| &nbsp;&nbsp;&nbsp;&nbsp;Income before income taxes | $73521 | $631 | $74152 |
| Income tax expense |  |  | 16626 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net income applicable to FB Financial Corporation and noncontrolling <br>interest |  |  | 57526 |
| Net income applicable to noncontrolling interest |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net income applicable to FB Financial Corporation |  |  | $57526 |
| Total assets | $15703248 | $765191 | $16468439 |
| Goodwill | 350353 |  | 350353 |

---

*(1) Other noninterest expense includes expenses for occupancy and equipment expense, data processing, advertising, legal and professional fees and other expenses. Additionally, other noninterest expense for Mortgage includes servicing expenses.*

---

| | | | |
|:---|:---|:---|:---|
| **Three Months Ended March 31, 2025** | **Banking** | **Mortgage** | **Consolidated** |
| Interest income | $178915 | $791 | $179706 |
| Interest expense | 73156 | (1091) | 72065 |
| &nbsp;&nbsp;Net interest income | 105759 | 1882 | 107641 |
| Provisions for credit losses | 2189 | 103 | 2292 |
| &nbsp;&nbsp;Net interest income after provision for credit losses | 103570 | 1779 | 105349 |
| Mortgage banking income |  | 12426 | 12426 |
| Other noninterest (loss) income | 10660 | (54) | 10606 |
| &nbsp;&nbsp;Total noninterest income | 10660 | 12372 | 23032 |
| Salaries, commissions and employee benefits | 41469 | 6882 | 48351 |
| Merger and integration costs | 401 |  | 401 |
| Depreciation and amortization | 2743 | 24 | 2767 |
| Amortization of intangibles | 656 |  | 656 |
| Other noninterest expense<sup>(1)</sup> | 21640 | 5734 | 27374 |
| &nbsp;&nbsp;Total noninterest expense | 66909 | 12640 | 79549 |
| &nbsp;&nbsp;&nbsp;&nbsp;Income before income taxes | $47321 | $1511 | $48832 |
| Income tax expense |  |  | 9471 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net income applicable to FB Financial Corporation and noncontrolling <br>interest |  |  | 39361 |
| Net income applicable to noncontrolling interest |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net income applicable to FB Financial Corporation |  |  | $39361 |
| Total assets | $12490097 | $646352 | $13136449 |
| Goodwill | 242561 |  | 242561 |

---

*(1) Other noninterest expense includes expenses for occupancy and equipment expense, data processing, advertising, legal and professional fees and other expenses. Additionally, other noninterest expense for Mortgage includes servicing expenses.*

------

**FB Financial Corporation and subsidiaries**

**Notes to consolidated financial statements**

**(Dollar amounts are in thousands, except share and per share amounts)**

**(Unaudited)**

**Note (13)—Minimum capital requirements**

Banks and bank holding companies are subject to regulatory capital requirements administered by federal banking agencies. Capital adequacy guidelines and, additionally for banks, prompt corrective action regulations involve quantitative measures of assets, liabilities, and certain off-balance sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by regulators. Failure to meet capital requirements can initiate regulatory action.

Under regulatory guidance for non-advanced approach institutions, the Bank and Company are required to maintain minimum capital ratios as outlined in the table below. Minimum risk-based capital adequacy ratios below include a capital conservation buffer of 2.50%. As of March 31, 2026 and December 31, 2025, the Bank and Company met all capital adequacy requirements to which they are subject. Additionally, under U.S. Basel III Capital Rules, the Bank and Company opted out of including accumulated other comprehensive income in regulatory capital.

Actual and required capital amounts and ratios are included below as of the dates indicated.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **March 31, 2026** | **Actual** | **Actual** | **Minimum Requirement for Capital Adequacy with<br>Capital Buffer** | **Minimum Requirement for Capital Adequacy with<br>Capital Buffer** | **To Qualify as Well-Capitalized Under Prompt Corrective Action Provisions** | **To Qualify as Well-Capitalized Under Prompt Corrective Action Provisions** |
| | **Amount** | **Ratio** | **Amount** | **Ratio** | **Amount** | **Ratio** |
| Total capital (to risk-weighted assets) |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;FB Financial Corporation | $1920259 | 13.4% | $1508224 | 10.5% | N/A | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;FirstBank | 1861059 | 13.1% | 1496068 | 10.5% | $1424826 | 10.0% |
| Tier 1 capital (to risk-weighted assets) |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;FB Financial Corporation | $1656459 | 11.5% | $1220943 | 8.5% | N/A | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;FirstBank | 1682686 | 11.8% | 1211102 | 8.5% | $1139861 | 8.0% |
| Common equity tier 1 capital<br> (to risk-weighted assets) |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;FB Financial Corporation | $1656459 | 11.5% | $1005482 | 7.0% | N/A | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;FirstBank | 1682686 | 11.8% | 997379 | 7.0% | $926137 | 6.5% |
| Tier 1 capital (to average assets) |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;FB Financial Corporation | $1656459 | 10.4% | $637465 | 4.0% | N/A | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;FirstBank | 1682686 | 10.6% | 636062 | 4.0% | $795077 | 5.0% |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **December 31, 2025** | **Actual** | **Actual** | **Minimum Requirement for Capital Adequacy with<br>Capital Buffer** | **Minimum Requirement for Capital Adequacy with<br>Capital Buffer** | **To Qualify as Well-Capitalized Under Prompt Corrective Action Provisions** | **To Qualify as Well-Capitalized Under Prompt Corrective Action Provisions** |
| | **Amount** | **Ratio** | **Amount** | **Ratio** | **Amount** | **Ratio** |
| Total capital (to risk-weighted assets) |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;FB Financial Corporation | $1888051 | 13.2% | $1496600 | 10.5% | N/A | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;FirstBank | 1830102 | 12.9% | 1484360 | 10.5% | $1413676 | 10.0% |
| Tier 1 capital (to risk-weighted assets) |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;FB Financial Corporation | $1625952 | 11.4% | $1211534 | 8.5% | N/A | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;FirstBank | 1653113 | 11.7% | 1201625 | 8.5% | $1130941 | 8.0% |
| &nbsp;&nbsp;Common equity tier 1 capital<br>(to risk-weighted assets) |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;FB Financial Corporation | $1625952 | 11.4% | $997734 | 7.0% | N/A | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;FirstBank | 1653113 | 11.7% | 989573 | 7.0% | $918889 | 6.5% |
| Tier 1 capital (to average assets) |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;FB Financial Corporation | $1625952 | 10.3% | $633378 | 4.0% | N/A | N/A |
| &nbsp;&nbsp;&nbsp;&nbsp;FirstBank | 1653113 | 10.5% | 631928 | 4.0% | $789910 | 5.0% |

---

------

**FB Financial Corporation and subsidiaries**

**Notes to consolidated financial statements**

**(Dollar amounts are in thousands, except share and per share amounts)**

**(Unaudited)**

**Note (14)—Stock-based compensation**

***Restricted Stock Units***

The Company grants RSUs under compensation arrangements for the benefit of certain employees, executive officers and directors. RSU grants are subject to time-based vesting with associated compensation recognized on a straight-line basis based on the grant date fair value of the awards. The total number of RSUs granted represents the number of awards eligible to vest based upon the service conditions set forth in the grant agreements.

The following table summarizes changes in RSUs for the three months ended March 31, 2026:

---

| | | |
|:---|:---|:---|
| | **Restricted Stock<br>Units<br>Outstanding** | **Weighted<br>Average Grant<br>Date<br>Fair Value** |
| Balance at beginning of period (unvested) | 322294 | $42.78 |
| Granted | 119733 | 57.94 |
| Vested | (11462) | 36.78 |
| Forfeited | (5246) | 39.25 |
| Balance at end of period (unvested) | 425319 | $47.25 |

---

The total fair value of RSUs vested and released was $422 and $731 for the three months ended March 31, 2026 and 2025, respectively.

The compensation cost related to these grants and vesting of RSUs was $2,986 and $2,906 for the three months ended March 31, 2026 and 2025, respectively. These amounts include RSU grants made to directors and director compensation to be settled in stock amounting to $297 and $243 for the three months ended March 31, 2026 and 2025, respectively.

As of March 31, 2026, there was $11,077 of total unrecognized compensation cost related to unvested RSUs which is expected to be recognized over a weighted-average period of 2.26 years. Additionally, as of March 31, 2026, there were 1,088,324 shares available for issuance under the Company's stock compensation plans. As of March 31, 2026 and December 31, 2025, there was $364 and $335, respectively, accrued in accrued expenses and other liabilities related to dividend equivalent units declared which is to be paid upon vesting and distribution of the underlying RSUs.

***Performance-Based Restricted Stock Units***

The Company awards PSUs to certain employees and executive officers. Under the terms of the awards, the number of units that will vest and convert to shares of common stock will be based on the Company's achievement of certain performance metrics over a fixed three-year performance period. The number of shares issued upon vesting can range from 0% to 200% of the PSUs granted.

PSUs performance factors are based on the Company's achievement of core return on average tangible common equity over the performance period relative to a predefined peer group as well as the Company's adjusted tangible book value over the performance period.

The following table summarizes information about the changes in PSUs as of and for the three months ended March 31, 2026:

---

| | | | |
|:---|:---|:---|:---|
| | **Performance Stock**<br>**Units**<br>**Outstanding**<sup>(1)</sup> | **Weighted<br>Average Grant<br>Date<br>Fair Value** | **Weighted<br>Average Grant<br>Date<br>Fair Value** |
| Balance at beginning of period (unvested) | 240891 | $| 40.24 |
| Granted | 69078 | 58.18 | 58.18 |
| Performance adjustment <sup>(2)</sup> | 35737 | 37.17 | 37.17 |
| Vested | (107228) | 37.17 | 37.17 |
| Forfeited or expired | (3663) | 42.64 | 42.64 |
| Balance at end of period (unvested) | 234815 | $| 46.41 |
| <sup>(1)</sup> *PSUs are presented in the table above assuming targets are met and the awards pay out at 100%.* <br><sup>(2)</sup> *The performance adjustment represents the difference between shares granted and vested due to achievement of performance factors.* | <sup>(1)</sup> *PSUs are presented in the table above assuming targets are met and the awards pay out at 100%.* <br><sup>(2)</sup> *The performance adjustment represents the difference between shares granted and vested due to achievement of performance factors.* | <sup>(1)</sup> *PSUs are presented in the table above assuming targets are met and the awards pay out at 100%.* <br><sup>(2)</sup> *The performance adjustment represents the difference between shares granted and vested due to achievement of performance factors.* | <sup>(1)</sup> *PSUs are presented in the table above assuming targets are met and the awards pay out at 100%.* <br><sup>(2)</sup> *The performance adjustment represents the difference between shares granted and vested due to achievement of performance factors.* |

---

------

**FB Financial Corporation and subsidiaries**

**Notes to consolidated financial statements**

**(Dollar amounts are in thousands, except share and per share amounts)**

**(Unaudited)**

The following table summarizes data related to the Company's outstanding PSUs as of March 31, 2026:

---

| | | | |
|:---|:---|:---|:---|
| **Grant Year** | **Grant Price** | **Performance Period** | **PSUs Outstanding** |
| 2024 | $35.60 | 2024 to 2026 | 94432 |
| 2025 | $49.33 | 2025 to 2027 | 71305 |
| 2026 | $58.18 | 2026 to 2028 | 69078 |

---

Compensation expense for PSUs is estimated each period based on the fair value of the Company's stock at the grant date and the most probable outcome of the performance condition, adjusted for the passage of time within the performance period of the awards.

The Company recorded compensation cost of $2,375 and $1,925 for the three months ended March 31, 2026 and 2025, respectively. As of March 31, 2026, maximum unrecognized compensation cost at 200% payout related to the unvested PSUs was $12,228, and the weighted average remaining performance period over which the cost could be recognized was 2.15 years. As of March 31, 2026 and December 31, 2025, there was $195 and $298, respectively, accrued in accrued expenses and other liabilities related to dividend equivalent units declared which is to be paid upon vesting and distribution of the underlying PSUs.

***Employee Stock Purchase Plan***

The Company maintains an employee stock purchase plan under which employees, through payroll deductions, are able to purchase shares of Company common stock. The employee purchase price is 95% of the lower of the market price at the beginning or end of each six month offering period. The maximum number of shares issuable during any offering period is 200,000 shares, limited to 725 shares for each participating employee. There were 8,624 and 8,161 shares of common stock issued under the ESPP with proceeds from employee payroll withholdings of $413 and $340 during the three months ended March 31, 2026 and 2025, respectively. As of March 31, 2026, there were 2,246,305 shares available for issuance under the ESPP.

**Note (15)—Related party transactions**

***Loans***

The Bank has made and expects to continue to make loans to management, executive officers, the directors and significant shareholders of the Company and their related interests in the ordinary course of business, in compliance with regulatory requirements.

An analysis of loans to management, executive officers, the directors and significant shareholders of the Bank and their related interests is presented below:

---

| | |
|:---|:---|
| Loans outstanding at January 1, 2026 | $45165 |
| New loans and advances | 10876 |
| Change in related party status |  |
| Repayments | (1221) |
| Loans outstanding at March 31, 2026 | $54820 |

---

Unfunded commitments to management, executive officers, the directors, and significant shareholders and their related interests totaled $37,565 and $47,182 at March 31, 2026 and December 31, 2025, respectively.

***Deposits***

The Bank held deposits from related parties totaling $399,455 and $406,258 as of March 31, 2026 and December 31, 2025, respectively.

***Leases***

The Bank leases various office spaces from entities owned by certain directors of the Company under varying terms. Lease expense for these properties totaled $102 for both the three months ended March 31, 2026 and 2025, respectively.

------

**FB Financial Corporation and subsidiaries**

**Notes to consolidated financial statements**

**(Dollar amounts are in thousands, except share and per share amounts)**

**(Unaudited)**

***Aviation lease***

Through a wholly-owned subsidiary, FBK Aviation, LLC, the Company owns and maintains an aircraft. FBK Aviation, LLC maintains non-exclusive aircraft leases with entities owned by certain directors. The Company recognized income $22 and $19 for the three months ended March 31, 2026 and 2025, respectively.

***Equity investment in preferred stock and master loan purchase agreement***

The Company holds an equity investment in a privately held entity which originates manufactured housing loans through utilization of its proprietary technology. As a result of the investment, the Company holds two board seats on the entity's board of directors. The Company also has a master loan purchase agreement with the entity to purchase up to $250,000 in manufactured housing loan production over an initial five-year term. Under this agreement, the Company purchased $8,911 and $9,494 of loans for the three months ended March 31, 2026 and 2025, respectively. As of March 31, 2026 and December 31, 2025, the amortized cost of these loans HFI amounted to $148,417 and $142,532, respectively. See Note 3, "Investment securities", for additional information on this investment.

------

**ITEM 2 – Management's discussion and analysis of financial condition and results of operations**

The following is a discussion of our financial condition as of March 31, 2026 and December 31, 2025, and our results of operations for the three months ended March 31, 2026 and 2025, and should be read in conjunction with our audited consolidated financial statements set forth in our Annual Report on Form 10-K for the year ended December 31, 2025, that was filed with the SEC on February 26, 2026, and with the accompanying unaudited notes to the condensed consolidated financial statements set forth in this Report.

**Forward-looking statements**

Certain statements contained in this Report 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, statements regarding the Company's future plans, results, strategies, and expectations, including expectations around changing economic markets. These statements can generally be identified by the use of the words and phrases "may," "will," "should," "could," "would," "goal," "plan," "potential," "estimate," "project," "believe," "intend," "anticipate," "expect," "target," "aim," "predict," "continue," "seek," and other variations of such words and phrases and similar expressions. These forward-looking statements are not historical facts, and are based upon management's current expectations, estimates, and projections, many of which, by their nature, are inherently uncertain and beyond the Company's control. The inclusion of these forward-looking statements should not be regarded as a representation by the Company or any other person that such expectations, estimates, and projections will be achieved. Accordingly, the Company cautions shareholders and investors that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions, and uncertainties that are difficult to predict. Actual results may prove to be materially different from the results expressed or implied by the forward-looking statements. A number of factors could cause actual results to differ materially from those contemplated by the forward-looking statements including, without limitation, (1) current and future economic conditions, including the effects of inflation, interest rate fluctuations, changes in the economy or global supply chain, supply-demand imbalances affecting local real estate prices, and high unemployment rates in the local or regional economies in which the Company operates and/or the US economy generally, (2) changes or the lack of changes in government interest rate policies and the associated impact on the Company's business, net interest margin, and mortgage operations, (3) increased competition for deposits, (4) changes in the quality or composition of the Company's loan or investment portfolios, including adverse developments in borrower industries or in the repayment ability of individual borrowers or issuers of investment securities, or the impact of interest rates on the value of our investment securities portfolio, (5) any deterioration in commercial real estate market fundamentals, (6) the Company's ability to identify potential candidates for, consummate, and achieve synergies from acquisitions, including risks that cost savings and other synergies from completed or future mergers may not be realized (or may be less than or delayed from expectations), challenges in integrating acquired businesses, disruptions to customer, employee, or other relationships, diversion of management attention, and the ability to effectively manage larger or more complex operations post-transaction; (7) the Company's ability to manage any unexpected outflows of uninsured deposits and avoid selling investment securities or other assets at an unfavorable time or at a loss, (8) the Company's ability to successfully execute its various business strategies, (9) changes in state and federal legislation, regulations or policies applicable to banks and other financial service providers, including legislative developments, (10) the effectiveness of the Company's controls and procedures to detect, prevent, mitigate and otherwise manage the risk of fraud or misconduct by internal or external parties, including attempted physical-security and cybersecurity attacks, denial-of-service attacks, hacking, phishing, social-engineering attacks, malware intrusion, data-corruption attempts, system breaches, identity theft, ransomware attacks, environmental conditions, and intentional acts of destruction, (11) the Company's dependence on information technology systems of third party service providers and the risk of systems failures, interruptions, or breaches of security, (12) the impact, extent and timing of technological changes, (13) concentrations of credit or deposit exposure, (14) the impact of natural disasters, pandemics, acts of war or terrorism, or other catastrophic events, (15) events giving rise to international or regional political instability, including the broader impacts of such events on financial markets and/or global macroeconomic environments, and/or (16) general competitive, economic, political, and market conditions. Further information regarding the Company and factors which could affect the forward-looking statements contained herein can be found in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2025, and in any of the Company's subsequent filings with the SEC. Many of these factors are beyond the Company's ability to control or predict. If one or more events related to these or other risks or uncertainties materialize, or if the underlying assumptions prove to be incorrect, actual results may differ materially from the forward-looking statements. Accordingly, shareholders and investors should not place undue reliance on any such forward-looking statements. Any forward-looking statement speaks only as of the date of this Report, and the Company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.

------

New risks and uncertainties may emerge from time to time, and it is not possible for the Company to predict their occurrence or how they will affect the Company.

The Company qualifies all forward-looking statements by these cautionary statements.

**Critical accounting policies**

Our financial statements are prepared in accordance with GAAP and general practices within the banking industry. Within our financial statements, certain financial information contains approximate measurements of financial effects of transactions and impacts at the consolidated balance sheet dates and our results of operations for the reporting periods. We monitor the status of proposed and newly issued accounting standards to evaluate the impact on our financial condition and results of operations. Our accounting policies, including the impact of any newly issued accounting standards if applicable, are discussed in further detail in Note 1, "Basis of presentation and summary of significant accounting policies," in the notes to our consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2025.

------

**Financial highlights** 

The following table presents certain selected historical consolidated statements of income and balance sheets data and key performance indicators and other measures as of the dates or for the periods indicated. Our historical results for any prior period are not necessarily indicative of results to be expected in any future period.

---

| | | | |
|:---|:---|:---|:---|
| | **As of or for the three months ended** | **As of or for the three months ended** | **As of or for the year-ended** |
| | **March 31,** | **March 31,** | **December 31,** |
|<br>*(dollars in thousands, except share data)* | **2026** | **2025** | **2025** |
| **Selected Balance Sheet Data** |  |  |  |
| &nbsp;&nbsp;&nbsp;Cash and cash equivalents | $1157763 | $794706 | $1155895 |
| &nbsp;&nbsp;&nbsp;Investment securities, at fair value | 1498547 | 1580720 | 1459734 |
| &nbsp;&nbsp;&nbsp;Loans held for sale | 231359 | 172770 | 201076 |
| &nbsp;&nbsp;&nbsp;Loans HFI | 12503815 | 9771536 | 12383626 |
| &nbsp;&nbsp;&nbsp;Allowance for credit losses on loans HFI | (186324) | (150531) | (185983) |
| &nbsp;&nbsp;&nbsp;Total assets | 16468439 | 13136449 | 16300292 |
| &nbsp;&nbsp;&nbsp;Interest-bearing deposits (non-brokered) | 10838139 | 8623636 | 10649932 |
| &nbsp;&nbsp;&nbsp;Brokered deposits | 574216 | 414428 | 625634 |
| &nbsp;&nbsp;&nbsp;Noninterest-bearing deposits | 2664480 | 2163934 | 2634395 |
| &nbsp;&nbsp;&nbsp;Total deposits | 14076835 | 11201998 | 13909961 |
| &nbsp;&nbsp;&nbsp;Borrowings | 213188 | 168944 | 212764 |
| &nbsp;&nbsp;&nbsp;Allowance for credit losses on unfunded commitments | 15398 | 6493 | 16196 |
| &nbsp;&nbsp;&nbsp;Total common shareholders' equity | 1973873 | 1601962 | 1948165 |
| **Selected Statement of Income Data** |  |  |  |
| &nbsp;&nbsp;&nbsp;Total interest income | $225350 | $179706 | $833926 |
| &nbsp;&nbsp;&nbsp;Total interest expense | 79385 | 72065 | 317826 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net interest income | 145965 | 107641 | 516100 |
| &nbsp;&nbsp;&nbsp;Provisions for credit losses | 3024 | 2292 | 43278 |
| &nbsp;&nbsp;&nbsp;Total noninterest income | 26375 | 23032 | 43910 |
| &nbsp;&nbsp;&nbsp;Total noninterest expense | 95164 | 79549 | 378214 |
| &nbsp;&nbsp;&nbsp;&nbsp;Income before income taxes | 74152 | 48832 | 138518 |
| &nbsp;&nbsp;Income tax expense | 16626 | 9471 | 15880 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net income applicable to noncontrolling interest |  |  | 16 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net income applicable to FB Financial Corporation | $57526 | $39361 | $122622 |
| &nbsp;&nbsp;Net interest income (tax-equivalent basis) | $146774 | $108427 | $519393 |
| **Per Common Share** |  |  |  |
| &nbsp;&nbsp;&nbsp;Basic net income | $1.11 | $0.84 | $2.47 |
| &nbsp;&nbsp;&nbsp;Diluted net income | 1.10 | 0.84 | 2.45 |
| &nbsp;&nbsp;&nbsp;Book value | 38.39 | 34.44 | 37.64 |
| &nbsp;&nbsp;Tangible book value<sup>(1)</sup> | 31.00 | 29.12 | 30.27 |
| &nbsp;&nbsp;&nbsp;Cash dividends declared | 0.21 | 0.19 | 0.76 |
| **Selected Ratios** |  |  |  |
| &nbsp;&nbsp;&nbsp;Return on average: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Assets | 1.43% | 1.21% | 0.84% |
| &nbsp;&nbsp;&nbsp;&nbsp;Common shareholders' equity | 11.9% | 10.1% | 6.90% |
| &nbsp;&nbsp;&nbsp;&nbsp;Tangible common equity<sup>(1)</sup> | 14.7% | 11.9% | 8.40% |
| &nbsp;&nbsp;&nbsp;Efficiency ratio | 55.2% | 60.9% | 67.5% |
| &nbsp;&nbsp;Core efficiency ratio (tax-equivalent basis)<sup>(1)</sup> | 54.3% | 59.9% | 56.4% |
| &nbsp;&nbsp;&nbsp;Loans HFI to deposit ratio | 88.8% | 87.2% | 89.0% |
| &nbsp;&nbsp;&nbsp;Noninterest-bearing deposits to total deposits | 18.9% | 19.3% | 18.9% |
| &nbsp;&nbsp;&nbsp;Net interest margin (tax-equivalent basis) | 3.94% | 3.55% | 3.81% |
| &nbsp;&nbsp;&nbsp;Yield on interest-earning assets | 6.07% | 5.91% | 6.14% |
| &nbsp;&nbsp;&nbsp;Cost of interest-bearing liabilities | 2.83% | 3.16% | 3.13% |
| &nbsp;&nbsp;&nbsp;Cost of total deposits | 2.27% | 2.54% | 2.49% |

---

------

---

| | | | |
|:---|:---|:---|:---|
| | **As of or for the three months ended** | **As of or for the three months ended** | **As of or for the year ended** |
| | **March 31,** | **March 31,** | **December 31,** |
| | **2026** | **2025** | **2025** |
| **Credit Quality Ratios** |  |  |  |
| &nbsp;&nbsp;Allowance for credit losses on loans HFI as a percentage of loans HFI | 1.49% | 1.54% | 1.50% |
| &nbsp;&nbsp;Annualized net charge-offs as a percentage of average loans HFI | (0.11)% | (0.14)% | (0.06)% |
| &nbsp;&nbsp;Nonperforming loans HFI as a percentage of loans HFI | 0.96% | 0.79% | 0.97% |
| &nbsp;&nbsp;Nonperforming assets as a percentage of total assets<sup>(2)</sup> | 0.98% | 0.84% | 0.97% |
| **Capital Ratios (Company)** |  |  |  |
| &nbsp;&nbsp;Total common shareholders' equity to assets | 12.0% | 12.2% | 12.0% |
| &nbsp;&nbsp;Tangible common equity to tangible assets<sup>(1)</sup> | 9.91% | 10.5% | 9.84% |
| &nbsp;&nbsp;Tier 1 leverage | 10.4% | 11.4% | 10.3% |
| &nbsp;&nbsp;Tier 1 risk-based capital | 11.5% | 13.1% | 11.4% |
| &nbsp;&nbsp;Total risk-based capital | 13.4% | 15.2% | 13.2% |
| &nbsp;&nbsp;Common Equity Tier 1 | 11.5% | 12.8% | 11.4% |

---

*(1)Non-GAAP financial measure; See "GAAP reconciliation and management explanation of non-GAAP financial measures" and non-GAAP reconciliations herein.*

*(2)Includes $32.6 million*, *$27.2 million, and $28.1 million of optional rights to repurchase delinquent GNMA loans as of March 31, 2026, March 31, 2025 and December 31, 2025, respectively.* 

**GAAP reconciliation and management explanation of non-GAAP financial measures**

We identify certain financial measures discussed in this Report as being "non-GAAP financial measures." The non-GAAP financial measures presented in this Report are adjusted efficiency ratio (tax-equivalent basis), tangible book value per common share, tangible common equity to tangible assets and return on average tangible common equity.

In accordance with the SEC's rules, we classify a financial measure as being a non-GAAP financial measure if that financial measure excludes or includes amounts, or is subject to adjustments that have the effect of excluding or including amounts, that are included or excluded, as the case may be, in the most directly comparable measure calculated and presented in accordance with GAAP as in effect from time to time in the United States in our consolidated statements of income, balance sheets or statements of cash flows. The non-GAAP financial measures that we discuss in this Report should not be considered in isolation or as a substitute for the most directly comparable or other financial measures calculated in accordance with GAAP. Moreover, the manner in which we calculate the non-GAAP financial measures that we discuss in our selected historical consolidated financial data may differ from that of other companies reporting measures with similar names. You should understand how such other banking organizations calculate their financial measures similar or with names similar to the non-GAAP financial measures we have discussed in our selected historical consolidated financial data when comparing such non-GAAP financial measures. The following reconciliation tables provide a more detailed analysis of these, and reconciliation for, each of non-GAAP financial measures.

***Adjusted efficiency ratio (tax-equivalent basis)***

The adjusted efficiency ratio (tax-equivalent basis) is a non-GAAP measure that excludes certain gains, losses and other selected items. Our management uses this measure in its analysis of our performance. Our management believes this measure provides a greater understanding of ongoing operations and enhances comparability of results with prior periods, as well as demonstrates the effects of significant gains and charges. The most directly comparable financial measure calculated in accordance with GAAP is the efficiency ratio.

------

The following table presents a reconciliation of our adjusted efficiency ratio (tax-equivalent basis) to our efficiency ratio for the periods below:

---

| | | | |
|:---|:---|:---|:---|
| *(dollars in thousands)* | **Three Months Ended March 31,** | **Three Months Ended March 31,** | **Year Ended December 31,** |
| *(dollars in thousands)* | **2026** | **2025** | **2025** |
| **Adjusted efficiency ratio (tax-equivalent basis)** |  |  |  |
| Total noninterest expense | $95164 | $79549 | $378214 |
| &nbsp;&nbsp;Less early retirement and severance costs |  |  | 1395 |
| &nbsp;&nbsp;Less loss on lease terminations and other branch closure costs | 5 |  | 282 |
| &nbsp;&nbsp;Less charitable contribution to FirstBank Foundation |  |  | 1130 |
| &nbsp;&nbsp;Less merger and integration costs | 1447 | 401 | 23803 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Adjusted noninterest expense** | $93712 | $79148 | $351604 |
| Net interest income | $145965 | $107641 | $516100 |
| Net interest income (tax-equivalent basis) | 146774 | 108427 | 519393 |
| Total noninterest income | 26375 | 23032 | 43910 |
| &nbsp;&nbsp;Less gain (loss) from securities, net | 1 | 16 | (60457) |
| &nbsp;&nbsp;&nbsp;Less loss on sales or write-downs of other real estate owned and other assets | (320) | (625) | (1166) |
| &nbsp;&nbsp;&nbsp;Less cash life insurance benefit | 763 |  | 1148 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Adjusted noninterest income** | $25931 | $23641 | $104385 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total revenue | $172340 | $130673 | $560010 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Adjusted revenue (tax-equivalent basis)** | $172705 | $132068 | $623778 |
| Efficiency ratio | 55.2% | 60.9% | 67.5% |
| **Adjusted efficiency ratio (tax-equivalent basis)** | 54.3% | 59.9% | 56.4% |

---

***Tangible book value per common share and tangible common equity to tangible assets***

Tangible book value per common share and tangible common equity to tangible assets are non-GAAP measures that exclude the impact of goodwill and other intangibles used by management to evaluate capital adequacy. Because intangible assets, such as goodwill and other intangibles, vary extensively from company to company, we believe that the presentation of this information allows investors to more easily compare our capital position to other companies. The most directly comparable financial measure calculated in accordance with GAAP is book value per common share and our total shareholders' equity to total assets.

The following table presents, as of the dates set forth below, tangible common equity compared with total common shareholders' equity, tangible book value per common share compared with our book value per common share and common equity to tangible assets compared to total common shareholders' equity to total assets:

------

---

| | | | |
|:---|:---|:---|:---|
| | **March 31,** | **March 31,** | **December 31,** |
|<br>*(dollars in thousands, except share data)* | **2026** | **2025** | **2025** |
| **Tangible assets** |  |  |  |
| &nbsp;&nbsp;&nbsp;Total assets | $16468439 | $13136449 | $16300292 |
| &nbsp;&nbsp;&nbsp;Adjustments: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Goodwill | (350353) | (242561) | (350353) |
| &nbsp;&nbsp;&nbsp;&nbsp;Intangibles, net | (29415) | (5106) | (31284) |
| &nbsp;&nbsp;&nbsp;**Tangible assets** | $16088671 | $12888782 | $15918655 |
| **Tangible common equity** |  |  |  |
| &nbsp;&nbsp;&nbsp;Total common shareholders' equity | $1973873 | $1601962 | $1948165 |
| &nbsp;&nbsp;&nbsp;Adjustments: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Goodwill | (350353) | (242561) | (350353) |
| &nbsp;&nbsp;&nbsp;&nbsp;Intangibles, net | (29415) | (5106) | (31284) |
| &nbsp;&nbsp;&nbsp;**Tangible common equity** | $1594105 | $1354295 | $1566528 |
| Common shares outstanding | 51418024 | 46514547 | 51752401 |
| Book value per common share | $38.39 | $34.44 | $37.64 |
| **Tangible book value per common share** | $31.00 | $29.12 | $30.27 |
| Total common shareholders' equity to total assets | 12.0% | 12.2% | 12.0% |
| **Tangible common equity to tangible assets** | 9.91% | 10.5% | 9.84% |

---

***Return on average tangible common equity***

Return on average tangible common equity is a non-GAAP measure that uses average shareholders' equity and excludes the impact of goodwill and other intangibles. This measurement is used by management to provide a depiction of our profitability without being impacted by intangible assets, as intangible assets are not directly managed to generate earnings. The most directly comparable financial measure calculated in accordance with GAAP is return on average common shareholders' equity.

The following table presents, as of the dates set forth below, reconciliations of total average tangible common equity to average shareholders' equity and return on average tangible common equity to return on average shareholders' equity:

---

| | | | |
|:---|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** | **Year Ended December 31,** |
|<br>*(dollars in thousands)* | **2026** | **2025** | **2025** |
| **Return on average tangible common equity** |  |  |  |
| Total average common shareholders' equity | $1965877 | $1583958 | $1776945 |
| &nbsp;&nbsp;&nbsp;Adjustments: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Average goodwill | (350353) | (242561) | (296901) |
| &nbsp;&nbsp;&nbsp;&nbsp;Average intangibles, net | (30394) | (5426) | (19492) |
| **Average tangible common equity** | $1585130 | $1335971 | $1460552 |
| Net income applicable to FB Financial Corporation | $57526 | $39361 | $122622 |
| Return on average common shareholders' equity | 11.9% | 10.1% | 6.90% |
| **Return on average tangible common equity** | 14.7% | 11.9% | 8.40% |

---

------

**Company overview** 

We are a financial holding company headquartered in Nashville, Tennessee. We operate primarily through our wholly-owned subsidiary bank, FirstBank, and its subsidiaries. FirstBank provides a comprehensive suite of commercial and consumer banking services to clients in select markets in Tennessee, Alabama, Kentucky, North Carolina and Georgia. As of March 31, 2026, our footprint included 90 full-service branches serving markets across Tennessee, including Nashville, Chattanooga, Knoxville, Memphis, and Jackson in addition to Bowling Green, Kentucky, Columbus and Newnan, Georgia and Birmingham, Anniston, Huntsville, and Auburn, Alabama. Additionally, our banking services extend to community markets throughout our footprint. FirstBank also provides retail mortgage banking services utilizing its bank branch network and mortgage banking offices strategically located throughout the southeastern United States.

We operate through two segments, Banking and Mortgage. We generate most of our revenue in our Banking segment from interest on loans and investments, loan-related fees, trust and investment services and deposit-related fees. Our primary source of funding for our loans is customer deposits, however we have other sources of funds including unsecured credit lines, brokered CDs, and other borrowings. We generate most of our revenue in our Mortgage segment from origination fees and gains on sales in the secondary mortgage loan market, as well as from mortgage servicing revenues.

**Mergers and acquisitions**

***Southern States Bancshares, Inc.***

On July 1, 2025, the Company completed its merger with Southern States Bancshares, Inc. and its wholly-owned subsidiary, Southern States Bank, with FB Financial Corporation continuing as the surviving entity. This merger strengthens the Company's presence in existing markets, such as Birmingham and Huntsville, Alabama, while expanding the Company's footprint further into Alabama and Georgia. The Company acquired total assets of $2.83 billion, total loans of $2.27 billion and assumed total deposits of $2.47 billion. Under the terms of the agreement, each outstanding share of Southern States common stock was converted into the right to receive 0.80 shares of the Company's stock. Additionally, fractional shares and outstanding stock options were settled in cash. As a result, total consideration paid was $368.4 million based on the Company's closing stock price of $45.30 per share on June 30, 2025. The merger resulted in additional goodwill of $107.8 million being recorded based on fair value estimates of total net assets acquired and liabilities assumed in the transaction.

**Overview of recent financial performance**

**Results of operations**

*Three months ended March 31, 2026 compared to the three months ended March 31, 2025*

Our net income increased during the three months ended March 31, 2026 to $57.5 million from $39.4 million for the three months ended March 31, 2025. Diluted earnings per common share was $1.10 and $0.84 for the three months ended March 31, 2026 and 2025, respectively. Our net income represented a ROAA of 1.43% and 1.21% for the three months ended March 31, 2026 and 2025, respectively, and a ROAE of 11.9% and 10.1% for the same periods. Our ratio of ROATCE for the three months ended March 31, 2026 and 2025 was 14.7% and 11.9%, respectively. See "GAAP reconciliation and management explanation of non-GAAP financial measures" in this Report for a discussion of tangible common equity and return on average tangible common equity.

During the three months ended March 31, 2026, our net interest income increased to $146.0 million from $107.6 million for the three months ended March 31, 2025. Our net interest margin, on a tax-equivalent basis, increased to 3.94% for the three months ended March 31, 2026 as compared to 3.55% for the three months ended March 31, 2025. The increase in net interest income and net interest margin, on a tax-equivalent basis, reflects a $45.7 million increase in interest income, partially offset by a $7.3 million increase in interest expense.

Provision for credit losses of $3.0 million was recognized for the three months ended March 31, 2026 and $2.3 million for the three months ended March 31, 2025. The increase was driven primarily by charge-off activity during the quarter and higher loan balances, partially offset by modestly improved economic forecasts and changes in commitment reserve rates and the mix of available commitments across calculation segments.

------

Noninterest income for the three months ended March 31, 2026 increased by $3.3 million to $26.4 million, compared to $23.0 million for the prior year period. The increase in noninterest income was driven by increases in BOLI income primarily related to proceeds received from a death benefit, service charges on deposit accounts and investment services and trust income.

Noninterest expense increased to $95.2 million for the three months ended March 31, 2026, compared with $79.5 million for the three months ended March 31, 2025. The increase in noninterest expense was primarily driven by higher salaries, commissions and benefits of $9.0 million due to increased headcount resulting from the Southern States merger and higher performance-based compensation. Additionally, other expense increased $3.7 million, driven in part by higher franchise tax expense. Merger-related expenses also increased during the period and included $1.4 million of core deposit intangible amortization, $1.0 million of merger and integration costs and $0.9 million in occupancy expense.

**Business segment highlights**

We operate our business in two business segments: Banking and Mortgage. See Note 12, "Segment reporting" in the notes to our consolidated financial statements contained herein for a description of these business segments.

***Banking***

*Three months ended March 31, 2026 compared to the three months ended March 31, 2025* 

The Banking segment contributed $73.5 million of income before taxes for the current period as compared to $47.3 million for the previous period. Net interest income totaled $143.1 million during the three months ended March 31, 2026 compared to $105.8 million during the previous period. Provisions for credit losses on loans HFI and unfunded loan commitments resulted in $2.0 million of provision expense during the current period as compared to $2.2 million during the previous period. The Banking segment recorded noninterest income of $14.0 million in the current period as compared to $10.7 million in the previous period. This increase includes increases in BOLI income, service charges on deposit accounts and investment services and trust income. Noninterest expense increased to $81.6 million for the current period compared to $66.9 million for the for the previous period, primarily due to increases in salaries, commissions and benefits, amortization of core deposit intangibles, occupancy, and merger and integration costs, with the majority of these increases associated with the Southern States merger. Additionally, a franchise tax expense was recognized in the current period.

***Mortgage***

*Three months ended March 31, 2026 compared to the three months ended March 31, 2025* 

Activity in our Mortgage segment resulted income before income taxes of $0.6 million for the current period, as compared to $1.5 million of income before taxes in the prior period. Net interest income was $2.8 million for the current period and $1.9 million for the prior period. Provisions for credit losses on loans HFI and unfunded loan commitments resulted in provision expense of $1.0 million during the current period compared to $0.1 million of provision expense during the prior period. The increase in provisions for credit losses was due primarily to a change in the CECL loss estimation methodology as of June 30, 2025, which notably impacted the Company's reserves on 100% financed 1-to-4 mortgages, as well as a change in forecasts associated with home prices which impacted mortgage reserves more broadly. Mortgage banking income decreased $0.2 million to $12.3 million during the current period compared to $12.4 million in the prior period.

------

The components of mortgage banking income for the three months ended March 31, 2026 and 2025 were as follows:

---

| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
|<br>*(dollars in thousands)* | **2026** | **2025** |
| Mortgage banking income |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gains and fees from origination and sale of mortgage <br> loans held for sale | $8517 | $5602 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net change in fair value of loans held for sale and derivatives | 1008 | 2816 |
| &nbsp;&nbsp;&nbsp;&nbsp;Change in fair value on MSRs, net of hedging | (3852) | (3069) |
| &nbsp;&nbsp;&nbsp;&nbsp;Mortgage servicing income | 6580 | 7077 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total mortgage banking income | $12253 | $12426 |
| Interest rate lock commitment volume | $490265 | $381777 |
| Interest rate lock commitment volume by purpose (%): |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Purchase | 74.6% | 86.1% |
| &nbsp;&nbsp;&nbsp;&nbsp;Refinance | 25.4% | 13.9% |
| Mortgage sales | $295123 | $222805 |
| Mortgage sale margin | 2.89% | 2.51% |
| Closing volume | $325403 | $271383 |
| Outstanding principal balance of mortgage loans serviced | $9455049 | $10061485 |

---

Noninterest expense for the three months ended March 31, 2026 and 2025 was $13.6 million and $12.6 million, respectively. This increase is reflective of higher commissions and incentives expenses resulting from increased mortgage production during the period.

**Results of operations**

Throughout the following discussion of our operating results, we present our net interest income, net interest margin and core efficiency ratio on a fully tax-equivalent basis. The fully tax-equivalent basis adjusts for the tax-favored status of net interest income from certain qualifying loans and investments.

Our tax-exempt income is converted to a tax-equivalent basis by adjusting for the combined federal and blended state statutory income tax rate of 26.06% for the three months ended March 31, 2026 and 2025.

***Net interest income***

Net interest income is the principle component of our earnings and represents the difference, or spread, between interest and fee income generated from earning assets and the interest expense paid on deposits and borrowed funds. Net interest income and margin are shaped by fluctuations in interest rates as well as changes in volume and mix of earning assets and interest-bearing liabilities.

During the three months ended March 31, 2026, the U.S. Treasury yield curve continued to normalize, with modest steepening in the intermediate and longer-term maturities as short-term interest rates declined over the prior year and longer-term yields remained elevated. This compares to the three months ended March 31, 2025, when the yield curve was in the early stages of normalization following initial short-term rate reductions and an increase in longer-term yields. The Federal Funds Target Rate range was 3.50% - 3.75% and 4.25% - 4.50% as of March 31, 2026 and March 31, 2025, respectively.

*Three months ended March 31, 2026 compared to the three months ended March 31, 2025*

Net interest income increased $38.3 million to $146.8 million for the three months ended March 31, 2026 as compared to $108.4 million for the three months ended March 31, 2025. Net interest margin was 3.94% for the three months ended March 31, 2026 compared to 3.55% for the three months ended March 31, 2025. Net interest income was broadly driven by higher average balances of loans held for investment resulting primarily from the Southern States merger, along with an increase in net interest margin attributable to higher loan yields and a decline in the average cost of interest-bearing deposits.

------

Interest income was $226.2 million for the three months ended March 31, 2026, compared to $180.5 million for the three months ended March 31, 2025, an increase of $45.7 million. The increase in interest income was primarily attributable to loans HFI, which increased $47.0 million to $199.1 million for the three months ended March 31, 2026 from $152.2 million for the three months ended March 31, 2025. The increase was driven by higher average balances of loans held for investment supported in part by the Southern States merger, with an incremental increase in yield. The yield on loans HFI increased 10 basis points to 6.51% for the three months ended March 31, 2026 from 6.41% for the three months ended March 31, 2025, largely due to accretion on purchased loans.

The components of our loan yield for the three months ended March 31, 2026 and 2025 were as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** | **Three Months Ended March 31,** | **Three Months Ended March 31,** | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2026** | **2026** | **2026** | **2025** | **2025** | **2025** |
|<br>*(dollars in thousands)* | **Interest<br>income** | **Interest<br>income** | **Average<br>yield** | **Interest<br>income** | **Interest<br>income** | **Average<br>yield** |
| **Loans HFI yield components:** |  |  |  |  |  |  |
| &nbsp;&nbsp;Contractual interest rate on loans HFI<sup>(1)</sup> | $| 190529 | 6.22% | $| 149819 | 6.31% |
| &nbsp;&nbsp;&nbsp;Origination and other loan fee income | 2148 | 2148 | 0.07% | 1797 | 1797 | 0.08% |
| &nbsp;&nbsp;&nbsp;Accretion on purchased loans | 6297 | 6297 | 0.21% | 2 | 2 | —% |
| &nbsp;&nbsp;&nbsp;Nonaccrual interest collections | 171 | 171 | 0.01% | 556 | 556 | 0.02% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total loans HFI yield | $| 199145 | 6.51% | $| 152174 | 6.41% |
| *(1)Includes tax equivalent adjustment using combined federal and blended state statutory income tax rate of 26.06%.*  | *(1)Includes tax equivalent adjustment using combined federal and blended state statutory income tax rate of 26.06%.*  | *(1)Includes tax equivalent adjustment using combined federal and blended state statutory income tax rate of 26.06%.*  | *(1)Includes tax equivalent adjustment using combined federal and blended state statutory income tax rate of 26.06%.*  | *(1)Includes tax equivalent adjustment using combined federal and blended state statutory income tax rate of 26.06%.*  | *(1)Includes tax equivalent adjustment using combined federal and blended state statutory income tax rate of 26.06%.*  | *(1)Includes tax equivalent adjustment using combined federal and blended state statutory income tax rate of 26.06%.*  |

---

Accretion on purchased loans contributed 17 basis points to the NIM for the three months ended March 31, 2026 as a result of the recent merger. There was no impact of accretion on purchased loans to the NIM for the three months ended March 31, 2025.

Interest expense was $79.4 million for the three months ended March 31, 2026, an increase of $7.3 million as compared to $72.1 million for the three months ended March 31, 2025. The increase was driven by higher average interest-bearing deposit balances resulting primarily from the recent merger, partially offset by declines in the rates paid on interest-bearing deposits.

Interest expense on interest-bearing deposit accounts totaled $77.9 million for the three months ended March 31, 2026, an increase of $7.6 million from the prior year, largely due to increases in average balances across most deposit categories, particularly money market deposits and customer time deposits, reflecting balance growth associated with the recent merger. Lower rates paid across these deposit categories partially offset the impact of higher average balances. The average rate paid on interest-bearing deposits was 2.80% for the three months ended March 31, 2026 compared to 3.13% for the three months ended March 31, 2025.

------

*Average balance and interest yield/rate analysis*

The table below shows the average balances, income and expense and yield and rates of each of our interest-earning assets and interest-bearing liabilities on a tax equivalent basis, if applicable, for the periods indicated.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** | **Three Months Ended March 31,** | **Three Months Ended March 31,** | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2026** | **2026** | **2026** | **2025** | **2025** | **2025** |
|<br>*(dollars in thousands)* | **Average balances** | **Interest<br>income/<br>expense** | **Average<br>yield/<br>rate** | **Average balances** | **Interest<br>income/<br>expense** | **Average<br>yield/<br>rate** |
| **Interest-earning assets:** |  |  |  |  |  |  |
| Loans HFI <sup>(1)(2)</sup> | $12415278 | $199145 | 6.51% | $9621057 | $152174 | 6.41% |
| Mortgage loans held for sale | 171452 | 2550 | 6.03% | 93944 | 1433 | 6.19% |
| Investment securities: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Taxable | 1378627 | 13575 | 3.99% | 1541868 | 14471 | 3.81% |
| &nbsp;&nbsp;Tax-exempt <sup>(2)</sup> | 168658 | 1425 | 3.43% | 167958 | 1397 | 3.37% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total investment securities <sup>(2)</sup> | 1547285 | 15000 | 3.93% | 1709826 | 15868 | 3.76% |
| Federal funds sold and reverse repurchase agreements | 207809 | 2021 | 3.94% | 123390 | 1374 | 4.52% |
| Interest-bearing deposits with other financial institutions | 698672 | 6337 | 3.68% | 811216 | 8902 | 4.45% |
| Restricted equity securities, at cost | 79257 | 1106 | 5.66% | 32493 | 741 | 9.25% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest-earning assets <sup>(2)</sup> | 15119753 | 226159 | 6.07% | 12391926 | 180492 | 5.91% |
| **Noninterest-earning assets:** |  |  |  |  |  |  |
| Cash and due from banks | 147305 |  |  | 123158 |  |  |
| Allowance for credit losses on loans HFI | (188214) |  |  | (152234) |  |  |
| Other assets <sup>(3)(4)</sup> | 1179428 |  |  | 844119 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total noninterest-earning assets | 1138519 |  |  | 815043 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $16258272 |  |  | $13206969 |  |  |
| **Interest-bearing liabilities:** |  |  |  |  |  |  |
| Interest-bearing deposits: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Interest-bearing checking | $2628330 | $12348 | 1.91% | $2840211 | $18267 | 2.61% |
| &nbsp;&nbsp;&nbsp;Money market deposits | 5471973 | 39871 | 2.96% | 4083754 | 34360 | 3.41% |
| &nbsp;&nbsp;&nbsp;Savings deposits | 447380 | 656 | 0.59% | 353865 | 66 | 0.08% |
| &nbsp;&nbsp;&nbsp;Customer time deposits | 2116914 | 19000 | 3.64% | 1373045 | 12702 | 3.75% |
| &nbsp;&nbsp;&nbsp;Brokered and internet time deposits | 604764 | 6003 | 4.03% | 443923 | 4854 | 4.43% |
| &nbsp;&nbsp;&nbsp;&nbsp;Time deposits | 2721678 | 25003 | 3.73% | 1816968 | 17556 | 3.92% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing deposits | 11269361 | 77878 | 2.80% | 9094798 | 70249 | 3.13% |
| **Other interest-bearing liabilities:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Securities sold under agreements to repurchase and federal funds purchased | 12554 | 16 | 0.52% | 11046 | 6 | 0.22% |
| &nbsp;&nbsp;&nbsp;Subordinated debt | 83798 | 1486 | 7.19% | 130755 | 1804 | 5.60% |
| &nbsp;&nbsp;&nbsp;Other borrowings | 1118 | 5 | 1.81% | 1220 | 6 | 1.99% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total other interest-bearing liabilities | 97470 | 1507 | 6.27% | 143021 | 1816 | 5.15% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing liabilities | 11366831 | 79385 | 2.83% | 9237819 | 72065 | 3.16% |
| **Noninterest-bearing liabilities:** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Demand deposits | 2652462 |  |  | 2134924 |  |  |
| &nbsp;&nbsp;Other liabilities<sup>(4)</sup> | 273009 |  |  | 250175 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total noninterest-bearing liabilities | 2925471 |  |  | 2385099 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 14292302 |  |  | 11622918 |  |  |
| FB Financial Corporation common shareholders' equity | 1965877 |  |  | 1583958 |  |  |
| Noncontrolling interest | 93 |  |  | 93 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shareholders' equity | 1965970 |  |  | 1584051 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and shareholders' equity | $16258272 |  |  | $13206969 |  |  |
| Net interest income (tax-equivalent basis)<sup>(2)</sup> |  | $146774 |  |  | $108427 |  |
| Interest rate spread (tax-equivalent basis)<sup>(2)</sup> |  |  | 3.24% |  |  | 2.75% |
| Net interest margin (tax-equivalent basis) <sup>(2)(5)</sup> |  |  | 3.94% |  |  | 3.55% |
| Cost of total deposits |  |  | 2.27% |  |  | 2.54% |
| Average interest-earning assets to average interest-bearing liabilities |  |  | 133.0% |  |  | 134.1% |

---

*(1)Average balances of nonaccrual loans and overdrafts are included in average loan balances.* 

*(2)Interest income includes the effects of taxable-equivalent adjustments using the combined federal and blended state statutory income tax rate to increase tax-exempt interest income to a tax-*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*equivalent basis. The net tax-equivalent adjustment amounts included in income were $0.8 million for both the three months ended March 31, 2026 and 2025.* 

*(3)Includes average net unrealized losses on investment securities available for sale of $43.4 million and $132.3 million for the three months ended March 31, 2026 and 2025, respectively.*

*(4)Includes average of optional rights to repurchase government guaranteed GNMA mortgage loans previously sold that meet certain defined delinquency criteria of $32.0 million and $30.7 million for the three months ended March 31, 2026 and 2025, respectively.*

*(5)The NIM is calculated by dividing annualized net interest income, on a tax-equivalent basis, by average total earning assets.*

------

*Yield/rate and volume analysis*

The tables below present the components of the changes in net interest income for the three months ended March 31, 2026 and 2025. For each major category of interest-earning assets and interest-bearing liabilities, information is provided with respect to changes due to average volume and changes due to interest rates, with the changes in both volume and interest rates allocated to these two categories based on the proportionate absolute changes in each category.

---

| | | | |
|:---|:---|:---|:---|
| | **Three months ended March 31, 2026 compared to three months ended March 31, 2025 due to changes in** | **Three months ended March 31, 2026 compared to three months ended March 31, 2025 due to changes in** | **Three months ended March 31, 2026 compared to three months ended March 31, 2025 due to changes in** |
|<br>*(dollars in thousands)* | **Volume** | **Yield/rate** | **Net increase<br>(decrease)** |
| **Interest-earning assets:** |  |  |  |
| Loans HFI<sup>(1)(2)</sup> | $44820 | $2151 | $46971 |
| Loans held for sale - mortgage | 1153 | (36) | 1117 |
| Investment securities: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Taxable | (1607) | 711 | (896) |
| &nbsp;&nbsp;&nbsp;&nbsp;Tax-exempt<sup>(2)</sup> | 6 | 22 | 28 |
| Federal funds sold and reverse repurchase agreements | 821 | (174) | 647 |
| Interest-bearing deposits with other financial institutions | (1021) | (1544) | (2565) |
| Restricted equity securities, at cost | 653 | (288) | 365 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest income<sup>(2)</sup> | 44825 | 842 | 45667 |
| **Interest-bearing liabilities:** |  |  |  |
| Interest-bearing checking deposits | (995) | (4924) | (5919) |
| Money market deposits | 10115 | (4604) | 5511 |
| Savings deposits | 137 | 453 | 590 |
| Customer time deposits | 6676 | (378) | 6298 |
| Brokered and internet time deposits | 1597 | (448) | 1149 |
| Securities sold under agreements to repurchase and federal funds <br> purchased | 2 | 8 | 10 |
| Subordinated debt | (833) | 515 | (318) |
| Other borrowings |  | (1) | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest expense | 16699 | (9379) | 7320 |
| Change in net interest income<sup>(2)</sup> | $28126 | $10221 | $38347 |

---

*(1)Average loans are presented gross, including nonaccrual loans and overdrafts.*

*(2)Interest income includes the effects of the tax-equivalent adjustments to increase tax-exempt interest income to a tax-equivalent basis. The net taxable-equivalent adjustment amounts included was $0.8 million for both the three months ended March 31, 2026 and 2025.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***Provision for credit losses***

The provision for credit losses charged to operating expense is an amount which, in the judgment of management, is necessary to maintain the allowance for credit losses at an appropriate level under the current expected credit loss model. The determination of the amount of the allowance is complex and involves a high degree of judgment and subjectivity.

Our allowance for credit losses calculation as of March 31, 2026 resulted from management's best estimate of losses over the life of loans and unfunded commitments in our portfolio in accordance with the CECL approach.

Beginning with June 30, 2025, we began to utilize the discounted cash flow estimation technique, adjusted for current conditions and reasonable and supportable forecasts, to estimate the expected credit losses of its loan segments, except consumer and other loans, which utilized the weighted average remaining maturity loss rate technique. See "Note 1, "Basis of presentation and summary of significant accounting policies" in our Annual Report on Form 10-K for the year ended December 31, 2025, for further discussion on the change in estimate.

------

The discounted cash flow was calibrated using a regression analysis that relates one or more economic variables to our historical default rates and selected peer banks for each loan segment. We determined that national unemployment, national housing price index, national commercial real estate index and prime rates were the key economic variables that were most correlated to our historical loss performance and our peer banks. Reasonable and supportable forecasts of these economic indicators are utilized within the discounted cash flow to estimate expected credit losses for each loan segment. Current and forecast economic conditions, including those affecting these and other economic variables or macroeconomic conditions, such as global conflicts or tariffs, may continue to lead to increased volatility in our calculated level of allowance for credit losses.

Prior to the changes described above, our estimates for credit losses calculation utilized lifetime loss rate model and included economic forecasts for unemployment, gross domestic product, as well as other macroeconomic events which may impact our loan portfolio.

We recognized a provision for credit losses on loans HFI for the three months ended March 31, 2026 and 2025 of $3.8 million and $1.9 million, respectively. The current period provision on loans HFI was driven by loan growth and charge-offs during the quarter offset by slightly improved economic forecasts. For the three months ended March 31, 2025, the provision on loans HFI is due to growth in loan balances in most categories and charge-off activity offset by notable decreases in multi-family and construction lending and slight improvement in economic forecasts.

We recorded a reversal of credit losses on unfunded commitments of $0.8 million and provision expense of $0.4 million for the three months ended March 31, 2026 and 2025, respectively. The reversal of credit losses on unfunded commitments for the three months ended March 31, 2026 was primarily due to changes in segment-level reserve rates and the mix of available commitments among calculation segments. For the three months ended March 31, 2025, the increase in provision for credit losses on unfunded commitments was driven by an increase in outstanding construction commitments partially offset by a broader decrease of outstanding commitment balances across other categories from year-end balances. The increase in construction unfunded commitments was attributable to reduced utilization of existing construction lines which caused an increase in the available commitment in these relationships.

During the three months ended March 31, 2026 and 2025, it was determined that all AFS debt securities that experienced a decline in fair value below amortized cost basis were due to noncredit-related factors. Therefore, there was no provision for credit losses recognized on AFS debt securities during the three months ended March 31, 2026 and 2025.

***Noninterest income***

The following table sets forth the components of noninterest income for the periods indicated:

---

| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
|<br>*(dollars in thousands)* | **2026** | **2025** |
| Mortgage banking income | $12253 | $12426 |
| Service charges on deposit accounts | 4376 | 3479 |
| Investment services and trust income | 4348 | 3711 |
| ATM and interchange fees | 2977 | 2677 |
| Gain from investment securities, net | 1 | 16 |
| Loss on sales or write-downs of premises and equipment, other real estate owned and other assets | (320) | (625) |
| Other income | 2740 | 1348 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total noninterest income | $26375 | $23032 |

---

------

*Three months ended March 31, 2026 compared to three months ended March 31, 2025*

Noninterest income amounted to $26.4 million for the three months ended March 31, 2026, an increase of $3.3 million, as compared to income of $23.0 million for the three months ended March 31, 2025. The increase in total noninterest income was driven by increases in other income, service charges on deposit accounts and investment services and trust income offset by a decrease in mortgage banking income.

Mortgage banking income includes origination fees, gains and losses on the sale of mortgage loans, changes in fair value of mortgage loans and related derivatives, as well as mortgage servicing income, which includes the change in fair value of MSRs and related derivatives. Mortgage banking income was $12.3 million for the three months ended March 31, 2026, a decrease of $0.2 million compared to the prior period.

Investment services and trust income is comprised of wealth management fees and trust and insurance income. This caption increased $0.6 million during the three months ended March 31, 2026 to $4.3 million as compared to $3.7 million during the three months ended March 31, 2025. This growth was driven primarily by higher fees resulting from increased assets under management in existing accounts.

Service charges on deposit accounts include overdraft fees, account analysis fees and other customer transaction-related service charges. Service charges on deposit accounts increased $0.9 million during the three months ended March 31, 2026 to $4.4 million as compared to $3.5 million during the three months ended March 31, 2025. The increase was primarily due to the increase in deposit accounts from the Southern States merger.

ATM and interchange fees represent income related to customers' utilization of their debit cards and interchange income. ATM and interchange fees were $3.0 million for the three months ended March 31, 2026, compared to $2.7 million for the three months ended March 31, 2025.

Net gain from investment securities was $1 thousand for the three months ended March 31, 2026 compared to $16 thousand for the three months ended March 31, 2025.

Net loss on sales or write-downs of premises and equipment, other real estate owned and other assets improved by $0.3 million for the three months ended March 31, 2026.

Other income is comprised of income recognized that does not typically fit into other income categories and includes components such as BOLI income, swap fees, and equity investments income. Other income increased $1.4 million to $2.7 million during the three months ended March 31, 2026 as compared to $1.3 million during the three months ended March 31, 2025. This increase reflects higher BOLI income of $1.0 million, largely due to $0.8 million of death benefit proceeds recognized during the three months ended March 31, 2026.

***Noninterest expense***

The following table sets forth the components of noninterest expense for the periods indicated:

---

| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
|<br>*(dollars in thousands)* | **2026** | **2025** |
| Salaries, commissions and employee benefits | $57348 | $48351 |
| Occupancy and equipment expense | 7476 | 6597 |
| Data processing | 2454 | 2313 |
| Advertising | 2148 | 2487 |
| Legal and professional fees | 1980 | 1992 |
| Amortization of core deposit and other intangibles | 1869 | 656 |
| Merger and integration costs | 1447 | 401 |
| Other expense | 20442 | 16752 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total noninterest expense | $95164 | $79549 |

---

------

*Three months ended March 31, 2026 compared to three months ended March 31, 2025*

Noninterest expense increased by $15.7 million, or 19.6%, during the three months ended March 31, 2026 to $95.2 million as compared to $79.5 million in the three months ended March 31, 2025. The increase in noninterest expense was attributable to increases in salaries and employee benefits, amortization of core deposit intangible and other intangibles, merger and integration costs associated with the Southern States merger and other noninterest expense.

Salaries, commissions and employee benefits expense is comprised of salaries and wages in addition to other employee benefit costs and represents the largest component of noninterest expense. Salaries, commissions and employee benefits expense increased $9.0 million, or 18.6%, to $57.3 million for the three months ended March 31, 2026 as compared to $48.4 million for the three months ended March 31, 2025. This change was driven by increases in the salaries and benefit costs due to increased headcount resulting from the Southern States merger, combined with an increase in performance-based compensation driven by improvement in the Company's performance metrics.

Occupancy and equipment expense includes occupancy, depreciation and equipment expense. Occupancy and equipment expense of $7.5 million and $6.6 million was recognized for the three months ended March 31, 2026 and 2025. The increase was driven by the expansion of our branch network in connection with the Southern States merger.

Merger and integration costs include costs associated with the merger, integration and conversion of business combinations. Merger and integration costs were $1.4 million for the three months ended March 31, 2026 associated with the merger with Southern States. These costs primarily include other employee-related costs and costs associated with branch consolidation, conversion and integration activities.

Data processing is comprised of all third-party core operating systems and processing charges as well as payroll processing. Data processing fees were $2.5 million for the three months ended March 31, 2026, compared to $2.3 million for the three months ended March 31, 2025.

Advertising includes expenses related to sponsorships, advertising, marketing, customer relations and business development and public relations. During the three months ended March 31, 2026, advertising expense decreased $0.3 million to $2.1 million compared to $2.5 million during the three months ended March 31, 2025.

Legal and professional fees represent fees incurred for the various support functions, which includes legal, consulting, outsourcing and other professional related fees. Legal and professional fees were $2.0 million for both the three months ended March 31, 2026 and 2025.

Amortization of core deposit and other intangibles was $1.9 million for the three months ended March 31, 2026, compared to $0.7 million for the three months ended March 31, 2025. The increase was primarily due to $1.4 million of amortization associated with the core deposit intangible assumed with the merger of Southern States.

Other noninterest expense increased $3.7 million during the three months ended March 31, 2026 to $20.4 million compared to $16.8 million during the three months ended March 31, 2025. The increase was attributable to a $0.9 million increase in franchise tax expense and modest increases across a range of other expense categories, including software license and maintenance fees, regulatory costs, card transaction fees, contributions and dues, servicing fees and other operating expenses.

***Efficiency ratio***

The efficiency ratio is one measure of productivity in the banking industry. This ratio is calculated to measure the cost of generating one dollar of revenue. That is, the ratio is designed to reflect the percentage of one dollar which must be expended to generate that dollar of revenue. We calculate this ratio by dividing noninterest expense by the sum of net interest income and noninterest income. For an adjusted efficiency ratio, we exclude certain gains, losses and expenses we do not consider core to our business.

Our efficiency ratio was 55.2% and 60.9% for the three months ended March 31, 2026 and 2025, respectively. Our adjusted efficiency ratio, on a tax-equivalent basis, was 54.3% and 59.9% for the three months ended March 31, 2026 and 2025, respectively. See "GAAP reconciliation and management explanation of non-GAAP financial measures" in this Report for a discussion of the adjusted efficiency ratio.

------

***Income taxes***

Income tax expense was $16.6 million and $9.5 million for the three months ended March 31, 2026 and 2025, respectively. This represents effective tax rates of 22.4% and 19.4% for the three months ended March 31, 2026 and 2025, respectively. The primary differences from the enacted Federal rates are applicable state income taxes and certain non-deductible expenses, including limitations under Section 162(m). Refer to Note 8 "Income taxes" in the notes to the consolidated financial statements for additional information regarding the Company's income tax expense and effective tax rates.

**Financial condition**

The following discussion of our financial condition compares balances as of March 31, 2026 and December 31, 2025.

***Loan portfolio***

The following table sets forth the balance and associated percentage of each class of financing receivable in our loan portfolio as of the dates indicated:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **March 31,** | **March 31,** | **March 31,** | **December 31,** | **December 31,** | **December 31,** |
| | **2026** | **2026** | **2026** | | **2025** | **2025** |
|<br>*(dollars in thousands)* | **Committed** | **Amount Outstanding** | **% of total outstanding** | **Committed** | **Amount Outstanding** | **% of total outstanding** |
| Loan Type: |  |  |  |  |  |  |
| Commercial and industrial  | $3705063 | $2239228 | 18% | $3646142 | $2181935 | 18% |
| Construction | 1907281 | 1177082 | 9% | 1893275 | 1188494 | 10% |
| Residential real estate: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;1-to-4 family mortgage | 1870735 | 1856308 | 15% | 1855064 | 1838122 | 15% |
| &nbsp;&nbsp;&nbsp;Residential line of credit | 1605951 | 768190 | 6% | 1569351 | 741309 | 6% |
| &nbsp;&nbsp;&nbsp;Multi-family mortgage | 724940 | 716795 | 6% | 752058 | 745360 | 6% |
| Commercial real estate: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Owner-occupied | 2302161 | 2204731 | 18% | 2241135 | 2148870 | 17% |
| &nbsp;&nbsp;&nbsp;Non-owner occupied | 2929176 | 2869759 | 23% | 2965536 | 2900499 | 23% |
| Consumer and other | 695485 | 671722 | 5% | 659567 | 639037 | 5% |
| Total loans | $15740792 | $12503815 | 100% | $15582128 | $12383626 | 100% |

---

Our loans HFI portfolio is our most significant earning asset, comprising 75.9% and 76.0% of our total assets at March 31, 2026 and December 31, 2025, respectively. Our strategy is to grow our loan portfolio by originating quality commercial and consumer type loans that comply with our credit policies and that produce revenues consistent with our financial objectives. Our overall lending approach is primarily focused on providing credit to our customers directly in the markets we serve. However, we also participate in loan syndications and participations from other banks (collectively, "participated loans"). As of March 31, 2026 and December 31, 2025, loans HFI included approximately $434.3 million and $433.2 million, respectively, related to participated loans.

We also sell loan participations to unaffiliated third-parties as part of our credit risk management and balance sheet management strategy. During the three months ended March 31, 2026 and 2025, we sold $2.4 million and $1.1 million loan participations, respectively. All loans, whether or not we act as a participant, are underwritten to the same standards as all other loans we originate. We believe our loan portfolio is well-balanced, which provides us with the opportunity to grow while monitoring our loan concentrations.

------

Banking regulators have established guidelines of less than 100% of Tier 1 capital plus allowance for credit losses in construction lending and less than 300% of Tier 1 capital plus allowance for credit losses in commercial real estate lending that management monitors as part of the risk management process. The construction concentration ratio is a percentage of the outstanding construction and land development loans to total Tier 1 capital plus allowance for credit losses. The commercial real estate concentration ratio is a percentage of the outstanding balance of non-owner occupied commercial real estate, multifamily, and construction and land development loans to Tier 1 capital plus allowance for credit losses. Management strives to operate within the thresholds set forth above. When our ratios are in excess of one or both of these guidelines, banking regulators generally require an increased level of monitoring in these lending areas by management.

The table below shows concentration ratios for the Bank and Company as of March 31, 2026 and December 31, 2025.

---

| | | |
|:---|:---|:---|
| | **As a percentage (%) of Tier 1 capital plus allowance for credit losses** | **As a percentage (%) of Tier 1 capital plus allowance for credit losses** |
| | **FirstBank** | **FB Financial Corporation** |
| **March 31, 2026** | | |
| &nbsp;&nbsp;&nbsp;&nbsp;Construction | 63.0% | 63.9% |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial real estate | 256.4% | 260.1% |
| **December 31, 2025** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Construction | 64.6% | 65.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial real estate | 264.5% | 268.4% |

---

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *Loan categories:*<br>*The principal categories of our loans held for investment portfolio are discussed below:*  | *Loan categories:*<br>*The principal categories of our loans held for investment portfolio are discussed below:*  |  |  |  |  |
| *Commercial and industrial loans.* | Commercial and industrial loans are typically made to small and medium-sized manufacturing, wholesale, retail and service businesses, and farmers for working capital and operating needs and business expansions. This category also includes loans secured by manufactured housing receivables made primarily to manufactured housing communities. Commercial and industrial loans generally include lines of credit and loans with maturities of five years or less. Commercial and industrial loans are generally made with operating cash flows as the primary source of repayment, but also include collateralization by inventory, accounts receivable, equipment and personal guarantees. This loan segment also includes our farmland and agriculture loans which are underwritten with various terms and payment schedules and are generally collateralized by real estate, crop production, or other related assets. |  |  |  |  |
| *Commercial and industrial loans.* | Commercial and industrial loans are typically made to small and medium-sized manufacturing, wholesale, retail and service businesses, and farmers for working capital and operating needs and business expansions. This category also includes loans secured by manufactured housing receivables made primarily to manufactured housing communities. Commercial and industrial loans generally include lines of credit and loans with maturities of five years or less. Commercial and industrial loans are generally made with operating cash flows as the primary source of repayment, but also include collateralization by inventory, accounts receivable, equipment and personal guarantees. This loan segment also includes our farmland and agriculture loans which are underwritten with various terms and payment schedules and are generally collateralized by real estate, crop production, or other related assets. |  |  |  |  |
| *Commercial and industrial loans.* | Commercial and industrial loans are typically made to small and medium-sized manufacturing, wholesale, retail and service businesses, and farmers for working capital and operating needs and business expansions. This category also includes loans secured by manufactured housing receivables made primarily to manufactured housing communities. Commercial and industrial loans generally include lines of credit and loans with maturities of five years or less. Commercial and industrial loans are generally made with operating cash flows as the primary source of repayment, but also include collateralization by inventory, accounts receivable, equipment and personal guarantees. This loan segment also includes our farmland and agriculture loans which are underwritten with various terms and payment schedules and are generally collateralized by real estate, crop production, or other related assets. |  |  |  |  |
|  | Commercial and industrial loans are typically made to small and medium-sized manufacturing, wholesale, retail and service businesses, and farmers for working capital and operating needs and business expansions. This category also includes loans secured by manufactured housing receivables made primarily to manufactured housing communities. Commercial and industrial loans generally include lines of credit and loans with maturities of five years or less. Commercial and industrial loans are generally made with operating cash flows as the primary source of repayment, but also include collateralization by inventory, accounts receivable, equipment and personal guarantees. This loan segment also includes our farmland and agriculture loans which are underwritten with various terms and payment schedules and are generally collateralized by real estate, crop production, or other related assets. |  |  |  |  |
|  | Commercial and industrial loans are typically made to small and medium-sized manufacturing, wholesale, retail and service businesses, and farmers for working capital and operating needs and business expansions. This category also includes loans secured by manufactured housing receivables made primarily to manufactured housing communities. Commercial and industrial loans generally include lines of credit and loans with maturities of five years or less. Commercial and industrial loans are generally made with operating cash flows as the primary source of repayment, but also include collateralization by inventory, accounts receivable, equipment and personal guarantees. This loan segment also includes our farmland and agriculture loans which are underwritten with various terms and payment schedules and are generally collateralized by real estate, crop production, or other related assets. |  |  |  |  |
| *Construction loans.* | Commercial and industrial loans are typically made to small and medium-sized manufacturing, wholesale, retail and service businesses, and farmers for working capital and operating needs and business expansions. This category also includes loans secured by manufactured housing receivables made primarily to manufactured housing communities. Commercial and industrial loans generally include lines of credit and loans with maturities of five years or less. Commercial and industrial loans are generally made with operating cash flows as the primary source of repayment, but also include collateralization by inventory, accounts receivable, equipment and personal guarantees. This loan segment also includes our farmland and agriculture loans which are underwritten with various terms and payment schedules and are generally collateralized by real estate, crop production, or other related assets. | Construction loans include commercial construction, land acquisition and land development loans and single-family interim construction loans to small and medium-sized businesses and individuals. These loans are generally secured by the land, or the real property being built and are made based on our assessment of the value of the property on an as-completed basis and repayment depends upon project completion and sale, refinancing, or operation of the real estate.  |  |  |  |
| *Construction loans.* | Commercial and industrial loans are typically made to small and medium-sized manufacturing, wholesale, retail and service businesses, and farmers for working capital and operating needs and business expansions. This category also includes loans secured by manufactured housing receivables made primarily to manufactured housing communities. Commercial and industrial loans generally include lines of credit and loans with maturities of five years or less. Commercial and industrial loans are generally made with operating cash flows as the primary source of repayment, but also include collateralization by inventory, accounts receivable, equipment and personal guarantees. This loan segment also includes our farmland and agriculture loans which are underwritten with various terms and payment schedules and are generally collateralized by real estate, crop production, or other related assets. | Construction loans include commercial construction, land acquisition and land development loans and single-family interim construction loans to small and medium-sized businesses and individuals. These loans are generally secured by the land, or the real property being built and are made based on our assessment of the value of the property on an as-completed basis and repayment depends upon project completion and sale, refinancing, or operation of the real estate.  |  |  |  |
|  | Commercial and industrial loans are typically made to small and medium-sized manufacturing, wholesale, retail and service businesses, and farmers for working capital and operating needs and business expansions. This category also includes loans secured by manufactured housing receivables made primarily to manufactured housing communities. Commercial and industrial loans generally include lines of credit and loans with maturities of five years or less. Commercial and industrial loans are generally made with operating cash flows as the primary source of repayment, but also include collateralization by inventory, accounts receivable, equipment and personal guarantees. This loan segment also includes our farmland and agriculture loans which are underwritten with various terms and payment schedules and are generally collateralized by real estate, crop production, or other related assets. | Construction loans include commercial construction, land acquisition and land development loans and single-family interim construction loans to small and medium-sized businesses and individuals. These loans are generally secured by the land, or the real property being built and are made based on our assessment of the value of the property on an as-completed basis and repayment depends upon project completion and sale, refinancing, or operation of the real estate.  |  |  |  |
|  | Construction loans include commercial construction, land acquisition and land development loans and single-family interim construction loans to small and medium-sized businesses and individuals. These loans are generally secured by the land, or the real property being built and are made based on our assessment of the value of the property on an as-completed basis and repayment depends upon project completion and sale, refinancing, or operation of the real estate.  |  |  |  |  |
|  | Construction loans include commercial construction, land acquisition and land development loans and single-family interim construction loans to small and medium-sized businesses and individuals. These loans are generally secured by the land, or the real property being built and are made based on our assessment of the value of the property on an as-completed basis and repayment depends upon project completion and sale, refinancing, or operation of the real estate.  |  |  |  |  |
| *1-to-4 family mortgage loans.* | Our residential real estate 1-to-4 family mortgage loans are primarily made with respect to and secured by single family homes in a first lien position which are both owner-occupied and investor owned. This pool also includes 100% financed mortgages that consist of 1-to-4 family mortgages that are originated under a 100% financing program. 100% financed mortgages loans are further evaluated separately from the 1-4 family mortgage pool due to high initial loan-to-value. This pool also includes our manufactured housing loans secured by real estate collateral. Repayment of loans in this loan segment are primarily dependent upon the cash flow of the borrower and the value of the property.  | Construction loans include commercial construction, land acquisition and land development loans and single-family interim construction loans to small and medium-sized businesses and individuals. These loans are generally secured by the land, or the real property being built and are made based on our assessment of the value of the property on an as-completed basis and repayment depends upon project completion and sale, refinancing, or operation of the real estate.  |  |  |  |
| *1-to-4 family mortgage loans.* | Our residential real estate 1-to-4 family mortgage loans are primarily made with respect to and secured by single family homes in a first lien position which are both owner-occupied and investor owned. This pool also includes 100% financed mortgages that consist of 1-to-4 family mortgages that are originated under a 100% financing program. 100% financed mortgages loans are further evaluated separately from the 1-4 family mortgage pool due to high initial loan-to-value. This pool also includes our manufactured housing loans secured by real estate collateral. Repayment of loans in this loan segment are primarily dependent upon the cash flow of the borrower and the value of the property.  | Construction loans include commercial construction, land acquisition and land development loans and single-family interim construction loans to small and medium-sized businesses and individuals. These loans are generally secured by the land, or the real property being built and are made based on our assessment of the value of the property on an as-completed basis and repayment depends upon project completion and sale, refinancing, or operation of the real estate.  | *Residential line of credit loans.* | Our residential line of credit loans includes junior liens consist of revolving lines of credit and term notes that are typically not in first position for liquidation preference. Repayment depends primarily on the cash flow of the borrower as well as the value of the real estate collateral. |  |
| *1-to-4 family mortgage loans.* | Our residential real estate 1-to-4 family mortgage loans are primarily made with respect to and secured by single family homes in a first lien position which are both owner-occupied and investor owned. This pool also includes 100% financed mortgages that consist of 1-to-4 family mortgages that are originated under a 100% financing program. 100% financed mortgages loans are further evaluated separately from the 1-4 family mortgage pool due to high initial loan-to-value. This pool also includes our manufactured housing loans secured by real estate collateral. Repayment of loans in this loan segment are primarily dependent upon the cash flow of the borrower and the value of the property.  | Construction loans include commercial construction, land acquisition and land development loans and single-family interim construction loans to small and medium-sized businesses and individuals. These loans are generally secured by the land, or the real property being built and are made based on our assessment of the value of the property on an as-completed basis and repayment depends upon project completion and sale, refinancing, or operation of the real estate.  | *Residential line of credit loans.* | Our residential line of credit loans includes junior liens consist of revolving lines of credit and term notes that are typically not in first position for liquidation preference. Repayment depends primarily on the cash flow of the borrower as well as the value of the real estate collateral. |  |
| *1-to-4 family mortgage loans.* | Our residential real estate 1-to-4 family mortgage loans are primarily made with respect to and secured by single family homes in a first lien position which are both owner-occupied and investor owned. This pool also includes 100% financed mortgages that consist of 1-to-4 family mortgages that are originated under a 100% financing program. 100% financed mortgages loans are further evaluated separately from the 1-4 family mortgage pool due to high initial loan-to-value. This pool also includes our manufactured housing loans secured by real estate collateral. Repayment of loans in this loan segment are primarily dependent upon the cash flow of the borrower and the value of the property.  | Construction loans include commercial construction, land acquisition and land development loans and single-family interim construction loans to small and medium-sized businesses and individuals. These loans are generally secured by the land, or the real property being built and are made based on our assessment of the value of the property on an as-completed basis and repayment depends upon project completion and sale, refinancing, or operation of the real estate.  | *Multi-family residential loans.* | Our residential line of credit loans includes junior liens consist of revolving lines of credit and term notes that are typically not in first position for liquidation preference. Repayment depends primarily on the cash flow of the borrower as well as the value of the real estate collateral. | Our multi-family residential loans are primarily secured by multi-family properties, such as apartments and condominium buildings. Repayment depends primarily upon the cash flow of the borrower as well as the value of the real estate collateral. |
| *1-to-4 family mortgage loans.* | Our residential real estate 1-to-4 family mortgage loans are primarily made with respect to and secured by single family homes in a first lien position which are both owner-occupied and investor owned. This pool also includes 100% financed mortgages that consist of 1-to-4 family mortgages that are originated under a 100% financing program. 100% financed mortgages loans are further evaluated separately from the 1-4 family mortgage pool due to high initial loan-to-value. This pool also includes our manufactured housing loans secured by real estate collateral. Repayment of loans in this loan segment are primarily dependent upon the cash flow of the borrower and the value of the property.  | Construction loans include commercial construction, land acquisition and land development loans and single-family interim construction loans to small and medium-sized businesses and individuals. These loans are generally secured by the land, or the real property being built and are made based on our assessment of the value of the property on an as-completed basis and repayment depends upon project completion and sale, refinancing, or operation of the real estate.  | *Multi-family residential loans.* |  | Our multi-family residential loans are primarily secured by multi-family properties, such as apartments and condominium buildings. Repayment depends primarily upon the cash flow of the borrower as well as the value of the real estate collateral. |
| *Commercial real estate owner-occupied loans.* | Our commercial real estate owner-occupied loans include loans to finance commercial real estate owner occupied properties for various purposes including use as offices, warehouses, production facilities, health care facilities, retail centers, restaurants, and church facilities. Commercial real estate owner-occupied loans are typically repaid through the ongoing business operations of the borrower.  | Our multi-family residential loans are primarily secured by multi-family properties, such as apartments and condominium buildings. Repayment depends primarily upon the cash flow of the borrower as well as the value of the real estate collateral. |  |  |  |
| *Commercial real estate owner-occupied loans.* | Our commercial real estate owner-occupied loans include loans to finance commercial real estate owner occupied properties for various purposes including use as offices, warehouses, production facilities, health care facilities, retail centers, restaurants, and church facilities. Commercial real estate owner-occupied loans are typically repaid through the ongoing business operations of the borrower.  |  | Our multi-family residential loans are primarily secured by multi-family properties, such as apartments and condominium buildings. Repayment depends primarily upon the cash flow of the borrower as well as the value of the real estate collateral. |  |  |
| *Commercial real estate owner-occupied loans.* | Our commercial real estate owner-occupied loans include loans to finance commercial real estate owner occupied properties for various purposes including use as offices, warehouses, production facilities, health care facilities, retail centers, restaurants, and church facilities. Commercial real estate owner-occupied loans are typically repaid through the ongoing business operations of the borrower.  |  |  |  |  |
| *Commercial real estate non-owner occupied loans.* | Our commercial real estate owner-occupied loans include loans to finance commercial real estate owner occupied properties for various purposes including use as offices, warehouses, production facilities, health care facilities, retail centers, restaurants, and church facilities. Commercial real estate owner-occupied loans are typically repaid through the ongoing business operations of the borrower.  | Our commercial real estate non-owner occupied loans include loans to finance commercial real estate investment properties for various purposes including use as offices, warehouses, health care facilities, hotels, mixed-use residential/commercial, manufactured housing communities, retail centers, multifamily properties, and assisted living facilities. Commercial real estate non-owner occupied loans are typically repaid with rental income from such property or the funds received from the sale or refinancing of the property.  |  |  |  |
| *Commercial real estate non-owner occupied loans.* | Our commercial real estate owner-occupied loans include loans to finance commercial real estate owner occupied properties for various purposes including use as offices, warehouses, production facilities, health care facilities, retail centers, restaurants, and church facilities. Commercial real estate owner-occupied loans are typically repaid through the ongoing business operations of the borrower.  | Our commercial real estate non-owner occupied loans include loans to finance commercial real estate investment properties for various purposes including use as offices, warehouses, health care facilities, hotels, mixed-use residential/commercial, manufactured housing communities, retail centers, multifamily properties, and assisted living facilities. Commercial real estate non-owner occupied loans are typically repaid with rental income from such property or the funds received from the sale or refinancing of the property.  |  |  |  |
| *Commercial real estate non-owner occupied loans.* | Our commercial real estate owner-occupied loans include loans to finance commercial real estate owner occupied properties for various purposes including use as offices, warehouses, production facilities, health care facilities, retail centers, restaurants, and church facilities. Commercial real estate owner-occupied loans are typically repaid through the ongoing business operations of the borrower.  | Our commercial real estate non-owner occupied loans include loans to finance commercial real estate investment properties for various purposes including use as offices, warehouses, health care facilities, hotels, mixed-use residential/commercial, manufactured housing communities, retail centers, multifamily properties, and assisted living facilities. Commercial real estate non-owner occupied loans are typically repaid with rental income from such property or the funds received from the sale or refinancing of the property.  |  |  |  |
| *Commercial real estate non-owner occupied loans.* | Our commercial real estate owner-occupied loans include loans to finance commercial real estate owner occupied properties for various purposes including use as offices, warehouses, production facilities, health care facilities, retail centers, restaurants, and church facilities. Commercial real estate owner-occupied loans are typically repaid through the ongoing business operations of the borrower.  | Our commercial real estate non-owner occupied loans include loans to finance commercial real estate investment properties for various purposes including use as offices, warehouses, health care facilities, hotels, mixed-use residential/commercial, manufactured housing communities, retail centers, multifamily properties, and assisted living facilities. Commercial real estate non-owner occupied loans are typically repaid with rental income from such property or the funds received from the sale or refinancing of the property.  | *Consumer and other loans.*  | Our consumer and other loans include loans to individuals for personal, family and household purposes, including car, boat and other recreational vehicle loans and personal lines of credit. Consumer loans are generally secured by vehicles and other household goods, with repayment depending primarily on the cash flow of the borrower. Consumer and other loans also include manufactured housing loans which are comprised of loans collateralized by manufactured housing not secured by real estate. As these manufacturing housing loans exhibit risk characteristics similar to both 1-to-4 family loans and consumer loans and are therefore further evaluated in a separate pool. Repayment is dependent upon the cash flow of the borrower and the value of the property. Other loans include municipal loans to states and political subdivisions in the U.S. and are repaid through tax revenues or refinancing.  |  |
|  | Our commercial real estate non-owner occupied loans include loans to finance commercial real estate investment properties for various purposes including use as offices, warehouses, health care facilities, hotels, mixed-use residential/commercial, manufactured housing communities, retail centers, multifamily properties, and assisted living facilities. Commercial real estate non-owner occupied loans are typically repaid with rental income from such property or the funds received from the sale or refinancing of the property.  | *Consumer and other loans.*  | Our consumer and other loans include loans to individuals for personal, family and household purposes, including car, boat and other recreational vehicle loans and personal lines of credit. Consumer loans are generally secured by vehicles and other household goods, with repayment depending primarily on the cash flow of the borrower. Consumer and other loans also include manufactured housing loans which are comprised of loans collateralized by manufactured housing not secured by real estate. As these manufacturing housing loans exhibit risk characteristics similar to both 1-to-4 family loans and consumer loans and are therefore further evaluated in a separate pool. Repayment is dependent upon the cash flow of the borrower and the value of the property. Other loans include municipal loans to states and political subdivisions in the U.S. and are repaid through tax revenues or refinancing.  |  |  |
|  | Our commercial real estate non-owner occupied loans include loans to finance commercial real estate investment properties for various purposes including use as offices, warehouses, health care facilities, hotels, mixed-use residential/commercial, manufactured housing communities, retail centers, multifamily properties, and assisted living facilities. Commercial real estate non-owner occupied loans are typically repaid with rental income from such property or the funds received from the sale or refinancing of the property.  | *Consumer and other loans.*  | Our consumer and other loans include loans to individuals for personal, family and household purposes, including car, boat and other recreational vehicle loans and personal lines of credit. Consumer loans are generally secured by vehicles and other household goods, with repayment depending primarily on the cash flow of the borrower. Consumer and other loans also include manufactured housing loans which are comprised of loans collateralized by manufactured housing not secured by real estate. As these manufacturing housing loans exhibit risk characteristics similar to both 1-to-4 family loans and consumer loans and are therefore further evaluated in a separate pool. Repayment is dependent upon the cash flow of the borrower and the value of the property. Other loans include municipal loans to states and political subdivisions in the U.S. and are repaid through tax revenues or refinancing.  |  |  |
|  | Our commercial real estate non-owner occupied loans include loans to finance commercial real estate investment properties for various purposes including use as offices, warehouses, health care facilities, hotels, mixed-use residential/commercial, manufactured housing communities, retail centers, multifamily properties, and assisted living facilities. Commercial real estate non-owner occupied loans are typically repaid with rental income from such property or the funds received from the sale or refinancing of the property.  | Our consumer and other loans include loans to individuals for personal, family and household purposes, including car, boat and other recreational vehicle loans and personal lines of credit. Consumer loans are generally secured by vehicles and other household goods, with repayment depending primarily on the cash flow of the borrower. Consumer and other loans also include manufactured housing loans which are comprised of loans collateralized by manufactured housing not secured by real estate. As these manufacturing housing loans exhibit risk characteristics similar to both 1-to-4 family loans and consumer loans and are therefore further evaluated in a separate pool. Repayment is dependent upon the cash flow of the borrower and the value of the property. Other loans include municipal loans to states and political subdivisions in the U.S. and are repaid through tax revenues or refinancing.  |  |  |  |
| Our commercial real estate non-owner occupied loans include loans to finance commercial real estate investment properties for various purposes including use as offices, warehouses, health care facilities, hotels, mixed-use residential/commercial, manufactured housing communities, retail centers, multifamily properties, and assisted living facilities. Commercial real estate non-owner occupied loans are typically repaid with rental income from such property or the funds received from the sale or refinancing of the property.  | Our consumer and other loans include loans to individuals for personal, family and household purposes, including car, boat and other recreational vehicle loans and personal lines of credit. Consumer loans are generally secured by vehicles and other household goods, with repayment depending primarily on the cash flow of the borrower. Consumer and other loans also include manufactured housing loans which are comprised of loans collateralized by manufactured housing not secured by real estate. As these manufacturing housing loans exhibit risk characteristics similar to both 1-to-4 family loans and consumer loans and are therefore further evaluated in a separate pool. Repayment is dependent upon the cash flow of the borrower and the value of the property. Other loans include municipal loans to states and political subdivisions in the U.S. and are repaid through tax revenues or refinancing.  |  |  |  |  |
| Our commercial real estate non-owner occupied loans include loans to finance commercial real estate investment properties for various purposes including use as offices, warehouses, health care facilities, hotels, mixed-use residential/commercial, manufactured housing communities, retail centers, multifamily properties, and assisted living facilities. Commercial real estate non-owner occupied loans are typically repaid with rental income from such property or the funds received from the sale or refinancing of the property.  | Our consumer and other loans include loans to individuals for personal, family and household purposes, including car, boat and other recreational vehicle loans and personal lines of credit. Consumer loans are generally secured by vehicles and other household goods, with repayment depending primarily on the cash flow of the borrower. Consumer and other loans also include manufactured housing loans which are comprised of loans collateralized by manufactured housing not secured by real estate. As these manufacturing housing loans exhibit risk characteristics similar to both 1-to-4 family loans and consumer loans and are therefore further evaluated in a separate pool. Repayment is dependent upon the cash flow of the borrower and the value of the property. Other loans include municipal loans to states and political subdivisions in the U.S. and are repaid through tax revenues or refinancing.  |  |  |  |  |
| Our consumer and other loans include loans to individuals for personal, family and household purposes, including car, boat and other recreational vehicle loans and personal lines of credit. Consumer loans are generally secured by vehicles and other household goods, with repayment depending primarily on the cash flow of the borrower. Consumer and other loans also include manufactured housing loans which are comprised of loans collateralized by manufactured housing not secured by real estate. As these manufacturing housing loans exhibit risk characteristics similar to both 1-to-4 family loans and consumer loans and are therefore further evaluated in a separate pool. Repayment is dependent upon the cash flow of the borrower and the value of the property. Other loans include municipal loans to states and political subdivisions in the U.S. and are repaid through tax revenues or refinancing.  |  |  |  |  |  |
| Our consumer and other loans include loans to individuals for personal, family and household purposes, including car, boat and other recreational vehicle loans and personal lines of credit. Consumer loans are generally secured by vehicles and other household goods, with repayment depending primarily on the cash flow of the borrower. Consumer and other loans also include manufactured housing loans which are comprised of loans collateralized by manufactured housing not secured by real estate. As these manufacturing housing loans exhibit risk characteristics similar to both 1-to-4 family loans and consumer loans and are therefore further evaluated in a separate pool. Repayment is dependent upon the cash flow of the borrower and the value of the property. Other loans include municipal loans to states and political subdivisions in the U.S. and are repaid through tax revenues or refinancing.  |  |  |  |  |  |
| Our consumer and other loans include loans to individuals for personal, family and household purposes, including car, boat and other recreational vehicle loans and personal lines of credit. Consumer loans are generally secured by vehicles and other household goods, with repayment depending primarily on the cash flow of the borrower. Consumer and other loans also include manufactured housing loans which are comprised of loans collateralized by manufactured housing not secured by real estate. As these manufacturing housing loans exhibit risk characteristics similar to both 1-to-4 family loans and consumer loans and are therefore further evaluated in a separate pool. Repayment is dependent upon the cash flow of the borrower and the value of the property. Other loans include municipal loans to states and political subdivisions in the U.S. and are repaid through tax revenues or refinancing.  |  |  |  |  |  |

---

------

As part of our lending policy and risk management activities, we track lending exposure of commercial and industrial and owner-occupied commercial real estate by industry classification (as defined by the North American Industry Classification System) and type to determine potential risks associated with industry concentrations, and if any risk issues could lead to additional credit loss exposure. The table below provides a summary of our commercial and industrial and owner-occupied commercial real estate portfolios by industry classification.

---

| | | | |
|:---|:---|:---|:---|
| | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** |
|<br>*(dollars in thousands)* | **Committed** | **Amount Outstanding** | **Nonperforming**<sup>(1)</sup> |
| **Commercial and industrial**  |  |  |  |
| Real estate rental and leasing | $517462 | $313169 | $— |
| Finance and insurance | 496040 | 307282 |  |
| Construction | 432662 | 173702 | 605 |
| Manufacturing | 346106 | 250573 | 81 |
| Wholesale trade | 292764 | 183308 | 466 |
| Information | 239412 | 180533 |  |
| Professional, scientific and technical services | 214911 | 118027 | 106 |
| Educational services | 164864 | 44880 |  |
| Retail trade | 159286 | 114547 | 37 |
| Arts, entertainment and recreation | 114898 | 63887 | 112 |
| Transportation and warehousing | 114351 | 103712 | 2015 |
| Other services (except public administration) | 109754 | 76251 | 233 |
| Administrative and support and waste management and remediation services | 103847 | 72683 | 1649 |
| Accommodation and food services | 101046 | 73628 | 539 |
| Health care and social assistance | 93094 | 53935 | 369 |
| Management of companies and enterprises | 56941 | 41876 |  |
| Other | 147625 | 67235 | 433 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | $3705063 | $2239228 | $6645 |
| **Commercial real estate owner-occupied** |  |  |  |
| Retail trade | $414969 | $405902 | $113 |
| Real estate rental and leasing | 283904 | 268703 | 2539 |
| Other services (except public administration) | 282473 | 273797 | 4024 |
| Manufacturing | 267161 | 257954 | 134 |
| Health care and social assistance | 233713 | 227048 |  |
| Accommodation and food services | 198859 | 198312 | 1626 |
| Construction | 102133 | 89708 |  |
| Transportation and warehousing | 98203 | 87455 | 61 |
| Wholesale trade | 97448 | 93572 |  |
| Professional, scientific and technical services | 67443 | 65236 | 1943 |
| Arts, entertainment and recreation | 66112 | 64113 |  |
| Agriculture, forestry, fishing and hunting | 45092 | 39989 | 841 |
| Educational services | 45086 | 44508 | 497 |
| Administrative and support and waste management and remediation services | 38606 | 36522 | 460 |
| Finance and insurance | 19159 | 18043 | 2668 |
| Management of companies and enterprises | 18948 | 12398 |  |
| Other | 22852 | 21471 | 177 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | $2302161 | $2204731 | $15083 |

---

*(1) Nonperforming loans are those on which the accrual of interest has stopped, as well as loans that are contractually 90 or more days past due on which interest continues to accrue.*

------

Additionally, we track our lending exposure of non-owner occupied commercial real estate and construction by collateral property type to determine potential risks associated with collateral types, and if any risk issues could lead to additional credit loss exposure. The table below provides a summary of our non-owner occupied commercial real estate and construction loan portfolios by collateral property type.

---

| | | | |
|:---|:---|:---|:---|
| | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** |
|<br>*(dollars in thousands)* | **Committed** | **Amount Outstanding** | **Nonperforming**<sup>(1)</sup> |
| **Commercial real estate non-owner occupied** |  |  |  |
| Warehouse and industrial | $596119 | $581202 | $2316 |
| Retail | 588537 | 579524 |  |
| Hotel | 512088 | 510027 |  |
| Office | 509221 | 494816 | 1024 |
| Assisted living and special care facilities | 161785 | 161019 |  |
| Self-storage | 152726 | 151308 | 102 |
| Land-manufactured housing | 123820 | 119728 | 160 |
| Restaurants, bars and event venues | 56655 | 52180 | 1008 |
| Healthcare facility | 52957 | 52921 |  |
| Convenience store and gas station | 45303 | 44539 |  |
| Other | 129965 | 122495 | 1171 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | $2929176 | $2869759 | $5781 |
| **Construction** |  |  |  |
| Consumer: |  |  |  |
| &nbsp;&nbsp;&nbsp;Construction | $267002 | $174545 | $19376 |
| &nbsp;&nbsp;&nbsp;Land | 101527 | 92694 | 327 |
| Commercial: |  |  |  |
| &nbsp;&nbsp;&nbsp;Land | 261565 | 220084 | 1653 |
| &nbsp;&nbsp;&nbsp;Multi-family | 227591 | 103877 |  |
| &nbsp;&nbsp;&nbsp;Retail | 106176 | 65558 |  |
| &nbsp;&nbsp;&nbsp;Healthcare facility | 57019 | 5342 |  |
| &nbsp;&nbsp;&nbsp;Self-storage | 40722 | 21231 |  |
| &nbsp;&nbsp;&nbsp;Office | 39661 | 24893 | 5311 |
| &nbsp;&nbsp;&nbsp;Hotel | 38767 | 18598 |  |
| &nbsp;&nbsp;&nbsp;Recreation, sports and entertainment | 21208 | 13457 |  |
| &nbsp;&nbsp;&nbsp;Special care facility | 20220 | 96 |  |
| &nbsp;&nbsp;&nbsp;Car wash | 17423 | 7520 |  |
| &nbsp;&nbsp;&nbsp;Convenience store and gas station | 13541 | 5674 |  |
| &nbsp;&nbsp;&nbsp; Other | 64227 | 30732 |  |
| Residential Development: |  |  |  |
| &nbsp;&nbsp;&nbsp;Construction | 501252 | 300742 | 3305 |
| &nbsp;&nbsp;&nbsp;Land | 92469 | 58811 |  |
| &nbsp;&nbsp;&nbsp;Lots | 36911 | 33228 | 599 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | $1907281 | $1177082 | $30571 |

---

*1) Nonperforming loans are those on which the accrual of interest has stopped, as well as loans that are contractually 90 days or more past due on which interest continues to accrue.*

------

*Loan maturity and sensitivities*

The following table presents the contractual maturities of our loan portfolio as of March 31, 2026. Loans with scheduled maturities are reported in the maturity category in which the payment is due. Demand loans with no stated maturity and overdrafts are reported in the "due in 1 year or less" category. Loans that have adjustable rates are shown as amortizing to final maturity rather than when the interest rates are next subject to change. The tables do not include prepayment assumptions or scheduled repayments.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** |
|<br>**Loan type (dollars in thousands)** | **Maturing in one<br>year or less** | **Maturing in one<br>to five years** | **Maturing in<br>five to fifteen years** | **Maturing after<br>fifteen years** | **Total** |
| Commercial and industrial | $845788 | $1161371 | $229656 | $2413 | $2239228 |
| Construction | 571732 | 457826 | 112962 | 34562 | 1177082 |
| Residential real estate: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;1-to-4 family mortgage | 162022 | 524267 | 195716 | 974303 | 1856308 |
| &nbsp;&nbsp;&nbsp;Residential line of credit | 87986 | 147066 | 533138 |  | 768190 |
| &nbsp;&nbsp;&nbsp;Multi-family mortgage | 257521 | 290806 | 161596 | 6872 | 716795 |
| Commercial real estate: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Owner-occupied | 277453 | 1232595 | 447055 | 247628 | 2204731 |
| &nbsp;&nbsp;&nbsp;Non-owner occupied | 453683 | 1671557 | 661184 | 83335 | 2869759 |
| Consumer and other | 28230 | 97911 | 141713 | 403868 | 671722 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total ($) | $2684415 | $5583399 | $2483020 | $1752981 | $12503815 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total (%) | 21.5% | 44.6% | 19.9% | 14.0% | 100.0% |

---

For loans due after one year or more, the following table presents the interest rate composition for loans outstanding as of March 31, 2026.

---

| | | | |
|:---|:---|:---|:---|
| | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** |
|<br>**Loan type (dollars in thousands)** | **Fixed<br>interest rate** | **Floating<br>interest rate** | **Total** |
| Commercial and industrial | $503686 | $889754 | $1393440 |
| Construction | 142353 | 462997 | 605350 |
| Residential real estate: |  |  |  |
| &nbsp;&nbsp;&nbsp;1-to-4 family mortgage | 1213056 | 481230 | 1694286 |
| &nbsp;&nbsp;&nbsp;Residential line of credit | 3752 | 676452 | 680204 |
| &nbsp;&nbsp;&nbsp;Multi-family mortgage | 251993 | 207281 | 459274 |
| Commercial real estate: |  |  |  |
| &nbsp;&nbsp;&nbsp;Owner-occupied | 1160384 | 766894 | 1927278 |
| &nbsp;&nbsp;&nbsp;Non-owner occupied | 1157730 | 1258346 | 2416076 |
| Consumer and other | 571490 | 72002 | 643492 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total ($) | $5004444 | $4814956 | $9819400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total (%) | 51.0% | 49.0% | 100.0% |

---

The following table presents the contractual maturities of our loan portfolio segregated into fixed and floating interest rate loans as of March 31, 2026.

---

| | | | |
|:---|:---|:---|:---|
| | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** |
|<br>**Contractual maturity (dollars in thousands)** | **Fixed<br>interest rate** | **Floating<br>interest rate** | **Total** |
| &nbsp;&nbsp;&nbsp;One year or less | $955397 | $1729018 | $2684415 |
| &nbsp;&nbsp;&nbsp;One to five years | 2851330 | 2732069 | 5583399 |
| &nbsp;&nbsp;&nbsp;Five to fifteen years | 998357 | 1484663 | 2483020 |
| &nbsp;&nbsp;&nbsp;Over fifteen years | 1154757 | 598224 | 1752981 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total ($) | $5959841 | $6543974 | $12503815 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total (%) | 47.7% | 52.3% | 100.0% |

---

------

***Asset quality***

In order to operate with a sound risk profile, we focus on originating loans that we believe to be of high quality. We have established loan approval policies and procedures to assist us in maintaining the overall quality of our loan portfolio. When delinquencies in our loans exist, we rigorously monitor the levels of such delinquencies for any negative or adverse trends. From time to time, we may modify loans to extend the term or make other concessions, including interest rate reduction, a term extension, principal forgiveness, payment deferral, or a combination thereof, to help a borrower with a deteriorating financial condition stay current on their loan and to avoid foreclosure. Furthermore, we are committed to collecting on all of our loans. This practice leads to higher recoveries in the long-term.

*Nonperforming assets*

Our nonperforming assets consist of nonperforming loans, other real estate owned and other repossessed non-earning assets. As of March 31, 2026 and December 31, 2025, we had $162.0 million and $158.1 million, respectively, in nonperforming assets. Nonperforming loans are those on which the accrual of interest has stopped, as well as loans that are contractually 90 or more days past due on which interest continues to accrue. Accrued interest receivable written off as an adjustment to interest income amounted to $0.2 million and $0.3 million for the three months ended March 31, 2026 and 2025, respectively. Additionally, we had net interest recoveries on nonperforming assets previously charged off of $0.2 million and $0.6 million for the three months ended March 31, 2026 and 2025, respectively.

Nonperforming loans HFI decreased by $1.0 million to $119.5 million as of March 31, 2026 compared to $120.5 million as of December 31, 2025. The decrease in nonperforming loans primarily occurred in our construction and 1-4 family mortgage portfolios partially offset by increases in our commercial real estate portfolios.

As of March 31, 2026 and December 31, 2025, we had $32.6 million and $28.1 million, respectively, of delinquent GNMA optional repurchase loans previously sold included on our consolidated balance sheets in loans held for sale. These are considered nonperforming assets as we do not earn any interest on the unexercised option to repurchase these loans. The following table provides details of our nonperforming assets, the ratio of such loans and other nonperforming assets to total assets, and certain other related information as of the dates presented:

---

| | | | |
|:---|:---|:---|:---|
| | **March 31,** | **March 31,** | **December 31,** |
|<br>*(dollars in thousands)* | **2026** | **2025** | **2025** |
| **Loan Type:** |  |  |  |
| Commercial and industrial | $6645 | $8755 | $6373 |
| Construction | 30571 | 10390 | 34208 |
| Residential real estate: |  |  |  |
| &nbsp;&nbsp;&nbsp;1-to-4 family mortgage | 30156 | 24579 | 32505 |
| &nbsp;&nbsp;&nbsp;Residential line of credit | 2010 | 2203 | 2014 |
| &nbsp;&nbsp;&nbsp;Multi-family mortgage | 8178 | 21 | 8199 |
| Commercial real estate: |  |  |  |
| &nbsp;&nbsp;&nbsp;Owner-occupied | 15083 | 8643 | 10606 |
| &nbsp;&nbsp;&nbsp;Non-owner occupied | 5781 | 6175 | 4514 |
| Consumer and other | 21050 | 16394 | 22053 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total nonperforming loans HFI | $119474 | $77160 | $120472 |
| Mortgage loans held for sale<sup>(1)</sup> | 32590 | 27152 | 28102 |
| Other real estate owned | 6449 | 3326 | 6009 |
| Other repossessed assets | 3518 | 2791 | 3564 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total nonperforming assets | $162031 | $110429 | $158147 |
| Nonperforming loans HFI as a percentage of total loans HFI | 0.96% | 0.79% | 0.97% |
| Nonperforming assets as a percentage of total assets | 0.98% | 0.84% | 0.97% |
| Nonaccrual loans HFI as a percentage of loans HFI | 0.74% | 0.50% | 0.71% |
| *(1) Represents optional right to repurchase government guaranteed GNMA mortgage loans previously sold that meet certain defined delinquency criteria.* | *(1) Represents optional right to repurchase government guaranteed GNMA mortgage loans previously sold that meet certain defined delinquency criteria.* | *(1) Represents optional right to repurchase government guaranteed GNMA mortgage loans previously sold that meet certain defined delinquency criteria.* | *(1) Represents optional right to repurchase government guaranteed GNMA mortgage loans previously sold that meet certain defined delinquency criteria.* |

---

------

We have evaluated our loans HFI classified as nonperforming and believe all nonperforming loans have been adequately reserved for in the allowance for credit losses on loans HFI as of March 31, 2026 and December 31, 2025. Management also continually monitors past due loans for potential credit quality deterioration. Loans not considered nonperforming include loans 30-89 days past due that continue to accrue interest amounting to $86.4 million at March 31, 2026 as compared to $66.8 million at December 31, 2025. The increase from December 31, 2025 to March 31, 2026 primarily occurred within commercial and industrial and construction portfolios partially offset by decreases multi-family and consumer and other portfolios.

*Allowance for credit losses*

The allowance for credit losses represents the portion of the loan's amortized cost basis that we do not expect to collect due to credit losses over the loan's life, considering past events, current conditions, and reasonable and supportable forecasts of future economic conditions. Loan losses are charged against the allowance when we believe the uncollectibility of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. The allowance for credit losses is based on the loan's amortized cost basis, excluding accrued interest receivable, as we promptly charge off uncollectible accrued interest receivable.

Beginning with June 30, 2025, we began to utilize the discounted cash flow estimation technique, adjusted for current conditions and reasonable and supportable forecasts, to estimate the expected credit losses of its loan segments, except consumer and other loans, which utilized the weighted average remaining maturity loss rate technique. Prior to the changes, the Company primarily used a lifetime loss rate model to determine the allowance for credit losses. We determined that the use of the updated estimate techniques and related inputs and assumptions enhances the transparency, accuracy and relevance of information relating to the allowance for credit losses through the application of data and calculations more clearly calibrated to our historical experience, the nature of our loan portfolio and unfunded commitments, and expectations for future economic conditions and corresponding expected credit losses. Refer to Note 1, "Basis of presentation and summary of significant accounting policies" in the consolidated financial statements in the Company's Annual Report on Form 10-K for the year ended December 31, 2025, that was filed with the SEC on February 26, 2026 for further specific information on the changes.

The following table presents the allocation of the allowance for credit losses by loan HFI category as well as the ratio of loans by loan category compared to the total loans HFI portfolio as of the dates indicated:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **March 31,** | **March 31,** | **March 31,** | **December 31,** | **December 31,** | **December 31,** |
| | **2026** | **2026** | **2026** | **2025** | **2025** | **2025** |
|<br>*(dollars in thousands)* | **Amount** | **ACL <br>as a % of loans HFI category** | **% of<br>loans to total loans HFI** | **Amount** | **ACL <br>as a % of loans HFI category** | **% of<br>loans to total loans HFI** |
| **Loan Type:** |  |  |  |  |  |  |
| Commercial and industrial | $25468 | 1.14% | 18% | $24130 | 1.11% | 18% |
| Construction | 27523 | 2.34% | 9% | 25633 | 2.16% | 10% |
| Residential real estate: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1-to-4 family mortgage | 33181 | 1.79% | 15% | 33218 | 1.81% | 15% |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential line of credit | 10537 | 1.37% | 6% | 10589 | 1.43% | 6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Multi-family mortgage | 10361 | 1.45% | 6% | 12260 | 1.64% | 6% |
| Commercial real estate: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Owner-occupied | 22135 | 1.00% | 18% | 21609 | 1.01% | 17% |
| &nbsp;&nbsp;&nbsp;&nbsp;Non-owner occupied | 34989 | 1.22% | 23% | 36235 | 1.25% | 23% |
| Consumer and other | 22130 | 3.29% | 5% | 22309 | 3.49% | 5% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total allowance for credit losses on loans HFI | $186324 | 1.49% | 100% | $185983 | 1.50% | 100% |

---

------

The following table summarizes activity in our allowance for credit losses on loans HFI during the periods indicated:

---

| | | | |
|:---|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** | **Year Ended<br>December 31,** |
|<br>*(dollars in thousands)* | **2026** | **2025** | **2025** |
| Allowance for credit losses on loans HFI at beginning of period | $185983 | $151942 | $151942 |
| Initial allowance for credit losses on loans purchased with credit deterioration |  |  | 7518 |
| Charge-offs: |  |  |  |
| &nbsp;&nbsp;&nbsp;Commercial and industrial | (2168) | (2901) | (3136) |
| &nbsp;&nbsp;&nbsp;Construction | (204) |  | (399) |
| &nbsp;&nbsp;&nbsp;Residential real estate: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1-to-4 family mortgage | (405) | (3) | (1126) |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential line of credit | (23) |  |  |
| &nbsp;&nbsp;&nbsp;Commercial real estate: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Owner-occupied |  | (17) | (17) |
| &nbsp;&nbsp;&nbsp;Consumer and other | (1233) | (972) | (4196) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total charge-offs | $(4033) | $(3893) | $(8874) |
| Recoveries: |  |  |  |
| &nbsp;&nbsp;&nbsp;Commercial and industrial | $101 | $42 | $386 |
| &nbsp;&nbsp;&nbsp;Construction | 25 |  |  |
| &nbsp;&nbsp;&nbsp;Residential real estate: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;1-to-4 family mortgage | 8 | 9 | 39 |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential line of credit |  |  | 12 |
| &nbsp;&nbsp;&nbsp;Commercial real estate: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Owner-occupied | 13 | 21 | 42 |
| &nbsp;&nbsp;&nbsp;&nbsp;Non-owner occupied |  | 1 | 529 |
| &nbsp;&nbsp;&nbsp;Consumer and other | 405 | 503 | 1200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total recoveries | $552 | $576 | $2208 |
| Net charge-offs | (3481) | (3317) | (6666) |
| Impact of change in accounting estimate for current expected credit losses<sup>(1)</sup> |  |  | (6848) |
| Provision for credit losses on loans HFI<sup>(1)</sup> | 3822 | 1906 | 40037 |
| Allowance for credit losses on loans HFI at the end of period | $186324 | $150531 | $185983 |
| Ratio of net charge-offs during the period to average loans outstanding during the period | (0.11)% | (0.14)% | (0.06)% |
| Allowance for credit losses on loans HFI as a percentage of loans | 1.49% | 1.54% | 1.50% |
| Allowance for credit losses on loans HFI as a percentage of nonaccrual loans HFI | 201.9% | 308.9% | 212.0% |
| Allowance for credit losses on loans HFI as a percentage of nonperforming loans | 156.0% | 195.1% | 154.4% |

---

*(1) Includes the impact of changes to estimation techniques, inputs and assumptions used to estimate credit losses during the year ended December 31, 2025. See "Note 1, "Basis of presentation and summary of significant accounting policies" in our Annual Report on Form 10-K for the year ended December 31, 2025 for further discussion on the change in estimate.*

------

The following tables details our provision for (reversal of) credit losses on loans HFI and net (charge-offs) recoveries to average loans HFI outstanding by loan category during the periods indicated:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Provision for (reversal of) credit losses on loans HFI**<sup>(1)</sup> | **Net (charge-offs) recoveries** | **Average loans HFI** | **Ratio of net (charge-offs) recoveries to average loans HFI** |
|<br>*(dollars in thousands)* | **Provision for (reversal of) credit losses on loans HFI**<sup>(1)</sup> | **Net (charge-offs) recoveries** | **Average loans HFI** | **Ratio of net (charge-offs) recoveries to average loans HFI** |
| **Three Months Ended March 31, 2026** |  |  |  |  |
| Commercial and industrial | $3405 | $(2067) | $2192218 | (0.38)% |
| Construction | 2069 | (179) | 1178389 | (0.06)% |
| Residential real estate: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;1-to-4 family mortgage | 360 | (397) | 1822173 | (0.09)% |
| &nbsp;&nbsp;&nbsp;Residential line of credit | (29) | (23) | 750840 | (0.01)% |
| &nbsp;&nbsp;&nbsp;Multi-family mortgage | (1899) |  | 762608 | —% |
| Commercial real estate: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Owner-occupied | 513 | 13 | 2156598 | —% |
| &nbsp;&nbsp;&nbsp;Non-owner occupied | (1246) |  | 2847197 | —% |
| Consumer and other | 649 | (828) | 705255 | (0.48)% |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total** | $3822 | $(3481) | $12415278 | (0.11)% |
| **Three Months Ended March 31, 2025** |  |  |  |  |
| Commercial and industrial | $1713 | $(2859) | $1680148 | (0.69)% |
| Construction | (6046) |  | 1066337 | —% |
| Residential real estate: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;1-to-4 family mortgage | 854 | 6 | 1625880 | —% |
| &nbsp;&nbsp;&nbsp;Residential line of credit | 244 |  | 605413 | —% |
| &nbsp;&nbsp;&nbsp;Multi-family mortgage | 904 |  | 632646 | —% |
| Commercial real estate: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Owner-occupied | 77 | 4 | 1347025 | —% |
| &nbsp;&nbsp;&nbsp;Non-owner occupied | 2787 | 1 | 2093165 | —% |
| Consumer and other | 1373 | (469) | 570443 | (0.33)% |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total** | $1906 | $(3317) | $9621057 | (0.14)% |
| **Year Ended December 31, 2025** |  |  |  |  |
| Commercial and industrial | $8254 | $(2750) | $1939663 | (0.14)% |
| Construction | (5964) | (399) | 1123085 | (0.04)% |
| Residential real estate: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;1-to-4 family mortgage | 8901 | (1087) | 1736885 | (0.06)% |
| &nbsp;&nbsp;&nbsp;Residential line of credit | (406) | 12 | 662550 | —% |
| &nbsp;&nbsp;&nbsp;Multi-family mortgage | 1589 |  | 680205 | —% |
| Commercial real estate: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Owner occupied | 8076 | 25 | 1730888 | —% |
| &nbsp;&nbsp;&nbsp;Non-owner occupied | 6757 | 529 | 2519175 | 0.02% |
| Consumer and other | 5982 | (2996) | 623411 | (0.48)% |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total** | $33189 | $(6666) | $11015862 | (0.06)% |

---

*(1) Includes the impact of changes to estimation techniques, inputs and assumptions used to estimate credit losses during the year ended December 31, 2025. See "Note 1, "Basis of presentation and summary of significant accounting policies" in our Annual Report on Form 10-K for the year ended December 31, 2025 for further discussion on the change in estimate.*

The ACL on loans HFI was $186.3 million and $186.0 million and represented 1.49% and 1.50% of loans HFI as of March 31, 2026 and December 31, 2025, respectively. For further information related to the change in the ACL refer to "Provision for credit losses" section herein and Note 4, "Loans and allowance for credit losses on loans HFI" in the notes to our consolidated financial statements.

Our ratio of total nonperforming loans HFI as a percentage of total loans HFI decreased by 1 basis points to 0.96% as of March 31, 2026 compared to December 31, 2025 primarily due to decreases in nonperforming loans in our construction and 1-4 family mortgage portfolios partially offset by increases in commercial real estate portfolios.

------

For the three months ended March 31, 2026, we experienced net charge-offs of $3.5 million, or 0.11% of average loans HFI, compared to net charge-offs of $3.3 million, or 0.14% for the three months ended March 31, 2025. We also maintain an allowance for credit losses on unfunded commitments in other liabilities, which decreased to $15.4 million as of March 31, 2026 from $16.2 million as of December 31, 2025 primarily due to changes in segment-level reserve rates and shifts in the mix of available commitments across calculation segments.

Mortgage loans held for sale consisted of $198.8 million of residential real estate mortgage loans in the process of being sold to third-party private investors or government sponsored agencies and $32.6 million of GNMA optional repurchase loans. This compares to $173.0 million of residential real estate mortgage loans in the process of being sold to third-party private investors or government sponsored agencies and $28.1 million of GNMA optional repurchase loans as of December 31, 2025.

***Other earning assets***

*Securities purchased under agreements to resell (*"*reverse repurchase agreements*"*)*

We enter into agreements with certain customers to purchase investment securities under agreements to resell at specific dates in the future. This investment deploys some of our unused liquidity position into an instrument that improves the return on those funds. Securities purchased under agreements to resell totaled $56.0 million and $45.8 million at March 31, 2026 and December 31, 2025, respectively.

*Federal funds sold* 

Federal funds sold may fluctuate from period to period depending upon our liquidity position at the time and our strategy for deploying liquidity. Federal funds sold totaled $143.0 million and $167.5 million at March 31, 2026 and December 31, 2025, respectively.

*AFS debt securities portfolio*

Our investment portfolio objectives include maximizing total return after other primary objectives are achieved such as, but not limited to, providing liquidity, capital preservation, and pledging collateral for certain deposit types, various lines of credit and other borrowings. The investment objectives guide the portfolio allocation among security types, maturities, and other attributes.

The fair value of our AFS debt securities portfolio was $1.50 billion and $1.46 billion as of March 31, 2026 and December 31, 2025, respectively. Included in the fair value of AFS debt securities were net unrealized losses of $51.5 million and $47.9 million as of March 31, 2026 and December 31, 2025, respectively. Current net unrealized losses are driven by prevailing interest rate levels versus interest rate levels when many of the bonds were purchased.

During the three months ended March 31, 2026, there were no AFS debt securities sold and we purchased $101.8 million of AFS debt securities. Maturities, prepayments and calls of AFS debt securities totaled $60.1 million for the three months ended March 31, 2026.

During the three months ended March 31, 2025, there were no AFS debt securities sold and we purchased $103.7 million of AFS debt securities. Maturities, prepayments and calls of AFS debt securities totaled $74.9 million for the three months ended March 31, 2025.

------

The following table sets forth the fair value, scheduled maturities and weighted average yields for our AFS debt securities portfolio as of the dates indicated below:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **March 31,** | **March 31,** | **March 31,** | **December 31,** | **December 31,** | **December 31,** |
| | **2026** | **2026** | **2026** | **2025** | **2025** | **2025** |
| *(dollars in thousands)* | **Fair value** | **% of total investment securities** | **Weighted average yield** <sup>(1)</sup> | **Fair value** | **% of total investment securities** | **Weighted average yield** <sup>(1)</sup> |
| U.S. government agency securities: |  |  |  |  |  |  |
| &nbsp;&nbsp;Maturing within one year |  | —% | —% |  | —% | —% |
| &nbsp;&nbsp;Maturing in one to five years |  | —% | —% |  | —% | —% |
| &nbsp;&nbsp;Maturing in five to ten years | 291393 | 19.4% | 4.04% | 284641 | 19.5% | 4.50% |
| &nbsp;&nbsp;Maturing after ten years | 422517 | 28.3% | 4.16% | 385447 | 26.4% | 4.65% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total U.S. government agency securities | 713910 | 47.7% | 4.11% | 670088 | 45.9% | 4.59% |
| Mortgage-backed securities - residential and commercial: |  |  |  |  |  |  |
| &nbsp;&nbsp;Maturing within one year |  | —% | —% |  | —% | —% |
| &nbsp;&nbsp;Maturing in one to five years | 3024 | 0.2% | 5.70% | 2192 | 0.2% | 7.52% |
| &nbsp;&nbsp;Maturing in five to ten years | 41806 | 2.8% | 4.13% | 44058 | 3.0% | 4.06% |
| &nbsp;&nbsp;Maturing after ten years | 564982 | 37.7% | 3.75% | 566748 | 38.8% | 3.89% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total mortgage-backed securities - residential and commercial | 609812 | 40.7% | 3.79% | 612998 | 42.0% | 3.89% |
| Municipal securities: |  |  |  |  |  |  |
| &nbsp;&nbsp;Maturing within one year | 204 | —% | 2.81% | 204 | —% | 2.81% |
| &nbsp;&nbsp;Maturing in one to five years | 6052 | 0.4% | 3.85% | 5673 | 0.4% | 3.82% |
| &nbsp;&nbsp;Maturing in five to ten years | 43880 | 2.9% | 3.52% | 42493 | 2.9% | 3.53% |
| &nbsp;&nbsp;Maturing after ten years | 115897 | 7.7% | 3.05% | 120000 | 8.2% | 3.03% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total municipal securities | 166033 | 11.0% | 3.12% | 168370 | 11.5% | 3.18% |
| U.S. Treasury securities: |  |  |  |  |  |  |
| &nbsp;&nbsp;Maturing within one year |  | —% | —% |  | —% | —% |
| &nbsp;&nbsp;Maturing in one to five years | 7092 | 0.5% | 3.73% | 5803 | 0.4% | 3.71% |
| &nbsp;&nbsp;Maturing in five to ten years |  | —% | —% | 1322 | 0.1% | 3.81% |
| &nbsp;&nbsp;Maturing after ten years |  | —% | —% |  | —% | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total U.S. Treasury securities | 7092 | 0.5% | 3.73% | 7125 | 0.5% | 3.73% |
| Corporate securities: |  |  |  |  |  |  |
| &nbsp;&nbsp;Maturing within one year |  | —% | —% |  | —% | —% |
| &nbsp;&nbsp;Maturing in one to five years | 1000 | 0.1% | 6.71% | 998 | 0.1% | 6.76% |
| &nbsp;&nbsp;Maturing in five to ten years | 700 | —% | 7.25% |  | —% | —% |
| &nbsp;&nbsp;Maturing after ten years |  | —% | —% |  | —% | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total corporate securities | 1700 | 0.1% | 6.93% | 998 | 0.1% | 6.76% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total AFS debt securities | $1498547 | 100.0% | 3.87% | $1459579 | 100.0% | 4.13% |

---

*(1)Yields on a tax-equivalent basis.*

***Deposits***

Deposits represent the Bank's primary source of funding. We continue to focus on growing core customer deposits through our relationship driven banking philosophy, community-focused marketing programs and our treasury management services.

Total deposits increased to $14.08 billion as of March 31, 2026 from $13.91 billion as of December 31, 2025. Noninterest-bearing deposits rose to $2.66 billion from $2.63 billion. Interest-bearing deposits increased to $11.41 billion from $11.28 billion.

------

Within interest-bearing categories, our checking balances were $2.64 billion and $2.65 billion at March 31, 2026 and December 31, 2025, respectively. Money market and savings balances decreased by $83.3 million from December 31, 2025 due to the conclusion of a deposit campaign that ended at year end of 2025. Customer time deposits increased by $280.1 million from December 31, 2025 driven by a by a $150.0 million short-term public funds time deposit and new and existing customer growth into targeted maturity tenors. Brokered and internet time deposits declined $51.4 million to $574.2 million as of March 31, 2026 compared to December 31, 2025 as management elected to allow balances to mature without reissuance.

We also experienced a decrease in the cost of interest-bearing deposits, reflecting a lower interest rate environment. Average deposit balances by type, together with the average rates per period are reflected in the average balance sheet amounts, interest paid, and rate analysis tables included in this management's discussion and analysis under the subheading "Results of operations" discussion.

Our deposit base may include certain deposits from related parties as disclosed within Note 15, "Related party transactions" in the notes to our consolidated financial statements included in this Report.

------

The following table sets forth the distribution by type of our deposit accounts as of the dates indicated:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **March 31,** | **March 31,** | **March 31,** | **December 31,** | **December 31,** | **December 31,** |
| | **2026** | **2026** | **2026** | **2025** | **2025** | **2025** |
|<br>*(dollars in thousands)* | **Amount** | **% of total deposits** | **Average rate**<sup>(1)</sup>  | **Amount** | **% of total deposits** | **Average rate**<sup>(1)</sup>  |
| **Deposit Type** |  |  |  |  |  |  |
| &nbsp;&nbsp;Noninterest-bearing demand | $2664480 | 19% | —% | $2634395 | 19% | —% |
| &nbsp;&nbsp;Interest-bearing checking | 2642713 | 19% | 1.91% | 2651369 | 19% | 2.31% |
| &nbsp;&nbsp;Money market | 5415835 | 38% | 2.96% | 5541144 | 40% | 3.39% |
| &nbsp;&nbsp;Savings deposits | 470535 | 4% | 0.59% | 428496 | 3% | 0.22% |
| &nbsp;&nbsp;Customer time deposits | 2309056 | 16% | 3.64% | 2028923 | 15% | 3.71% |
| &nbsp;&nbsp;Brokered and internet time deposits | 574216 | 4% | 4.03% | 625634 | 4% | 4.25% |
| &nbsp;&nbsp;Total deposits | $14076835 | 100% | 2.27% | $13909961 | 100% | 2.49% |
| **Customer Time Deposits**<sup>(2)</sup> |  |  |  |  |  |  |
| &nbsp;&nbsp;0.00-1.00% | $69557 | 3% |  | $81752 | 4% |  |
| &nbsp;&nbsp;1.01-2.00% | 55822 | 2% |  | 55299 | 3% |  |
| &nbsp;&nbsp;2.01-3.00% | 241525 | 11% |  | 225090 | 11% |  |
| &nbsp;&nbsp;3.01-4.00% | 1525496 | 66% |  | 949539 | 47% |  |
| &nbsp;&nbsp;4.01-5.00% | 415328 | 18% |  | 716099 | 35% |  |
| &nbsp;&nbsp;Above 5.00% | 1328 | —% |  | 1144 | —% |  |
| &nbsp;&nbsp;Total customer time deposits | $2309056 | 100% |  | $2028923 | 100% |  |
| **Brokered and Internet Time Deposits**<sup>(2)</sup> |  |  |  |  |  |  |
| &nbsp;&nbsp;0.00-1.00% | $— | —% |  | $— | —% |  |
| &nbsp;&nbsp;1.01-2.00% |  | —% |  |  | —% |  |
| &nbsp;&nbsp;2.01-3.00% |  | —% |  |  | —% |  |
| &nbsp;&nbsp;3.01-4.00% | 541892 | 94% |  | 574468 | 92% |  |
| &nbsp;&nbsp;4.01-5.00% | 32324 | 6% |  | 51166 | 8% |  |
| &nbsp;&nbsp;Above 5.00% |  | —% |  |  | —% |  |
| &nbsp;&nbsp;Total brokered and internet time deposits | $574216 | 100% |  | $625634 | 100% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total time deposits | $2883272 |  |  | $2654557 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;*(1) Average rates presented for the three months ended March 31, 2026 and the year ended December 31, 2025, respectively.* <br>&nbsp;&nbsp;&nbsp;&nbsp;*(2) Based on rates presented as of period-end.*  | &nbsp;&nbsp;&nbsp;&nbsp;*(1) Average rates presented for the three months ended March 31, 2026 and the year ended December 31, 2025, respectively.* <br>&nbsp;&nbsp;&nbsp;&nbsp;*(2) Based on rates presented as of period-end.*  | &nbsp;&nbsp;&nbsp;&nbsp;*(1) Average rates presented for the three months ended March 31, 2026 and the year ended December 31, 2025, respectively.* <br>&nbsp;&nbsp;&nbsp;&nbsp;*(2) Based on rates presented as of period-end.*  | &nbsp;&nbsp;&nbsp;&nbsp;*(1) Average rates presented for the three months ended March 31, 2026 and the year ended December 31, 2025, respectively.* <br>&nbsp;&nbsp;&nbsp;&nbsp;*(2) Based on rates presented as of period-end.*  | &nbsp;&nbsp;&nbsp;&nbsp;*(1) Average rates presented for the three months ended March 31, 2026 and the year ended December 31, 2025, respectively.* <br>&nbsp;&nbsp;&nbsp;&nbsp;*(2) Based on rates presented as of period-end.*  | &nbsp;&nbsp;&nbsp;&nbsp;*(1) Average rates presented for the three months ended March 31, 2026 and the year ended December 31, 2025, respectively.* <br>&nbsp;&nbsp;&nbsp;&nbsp;*(2) Based on rates presented as of period-end.*  | &nbsp;&nbsp;&nbsp;&nbsp;*(1) Average rates presented for the three months ended March 31, 2026 and the year ended December 31, 2025, respectively.* <br>&nbsp;&nbsp;&nbsp;&nbsp;*(2) Based on rates presented as of period-end.*  |

---

Further details related to our deposit customer base is presented below as of the dates indicated:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **March 31,** | **March 31,** | **December 31,** | **December 31,** |
| | **2026** | **2026** | **2025** | **2025** |
|<br>*(dollars in thousands)* | **Amount** | **% of total deposits** | **Amount** | **% of total deposits** |
| **Deposits by customer segment**<sup>(1)</sup> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Consumer | $6060115 | 43% | $6063015 | 44% |
| &nbsp;&nbsp;Commercial | 6155874 | 44% | 6162221 | 44% |
| &nbsp;&nbsp;&nbsp;Public | 1860846 | 13% | 1684725 | 12% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total deposits | $14076835 | 100% | $13909961 | 100% |

---

*(1) Segments are determined based on the customer account level.* 

------

The tables below set forth maturity information on time deposits as of March 31, 2026, categorized by balances less than $250 thousand and greater than $250 thousand, exceeding FDIC insurance limits:

---

| | | |
|:---|:---|:---|
| *(dollars in thousands)* | **Amount** | **Weighted average interest rate at period end** |
| **Time deposits of $250 and less&nbsp;&nbsp;&nbsp;&nbsp;** |  |  |
| **Months to maturity:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Three or less | $580708 | 3.78% |
| &nbsp;&nbsp;&nbsp;&nbsp;Over Three to Six | 597937 | 3.70% |
| &nbsp;&nbsp;&nbsp;&nbsp;Over Six to Twelve | 261919 | 3.17% |
| &nbsp;&nbsp;&nbsp;&nbsp;Over Twelve | 501304 | 3.54% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | $1941868 | 3.61% |
| **Time deposits of greater than $250** |  |  |
| **Months to maturity:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Three or less | $410757 | 3.86% |
| &nbsp;&nbsp;&nbsp;&nbsp;Over Three to Six | 281600 | 3.74% |
| &nbsp;&nbsp;&nbsp;&nbsp;Over Six to Twelve | 117827 | 3.33% |
| &nbsp;&nbsp;&nbsp;&nbsp;Over Twelve | 131220 | 3.69% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | $941404 | 3.74% |

---

Uninsured deposits are defined as the portion of deposit accounts in U.S. federally insured depository institutions that exceed the FDIC insurance limit and amounts in any other uninsured investment or deposit account that are classified as deposits and are not subject to any federal or state deposit insurance regimes. Collateralized deposits are included within our total uninsured deposits.

Further details related to our estimated insured or collateralized deposits and uninsured and uncollateralized deposits is presented below as of the dates indicated:

---

| | | |
|:---|:---|:---|
| | **March 31,** | **December 31,** |
| | **2026** | **2025** |
| Estimated insured or collateralized deposits<sup>(1)</sup> | $10017773 | $9825599 |
| Estimated uninsured and uncollateralized deposits<sup>(1)</sup> | $4059062 | $4084362 |
| Estimated uninsured and uncollateralized deposits as a % of total deposits<sup>(1)</sup> | 28.8% | 29.4% |
| Estimated uninsured deposits<sup>(2)</sup> | $5925947 | $5777547 |

---

*(1) Amounts are shown on a fully consolidated basis and exclude deposits of affiliates that are eliminated in consolidation.* 

*(2) Amounts are shown on an unconsolidated basis consistent with regulatory reporting requirements.* 

***Borrowed funds***

Deposits are the primary source of funds for our lending activities and general business purposes. However, we also fund our operations through other channels, including obtaining advances from the FHLB, borrowings from the Federal Reserve's Discount Window or one-off borrowing programs, purchasing federal funds and engaging in overnight borrowing with correspondent banks, or entering into client repurchase agreements. We use these sources of funds as part of our asset liability management process to control our long-term interest rate risk exposure, even if it may increase our short-term cost of funds.

Our level of short-term borrowings fluctuates daily based on funding needs, the sources of funds to meet those needs, and the overall interest rate environment and cost of public funds.

*Securities sold under agreements to repurchase and federal funds purchased* 

We enter into agreements with certain customers to sell certain securities under agreements to repurchase the security the following day. These agreements are made to provide customers with comprehensive treasury management products as a short-term return for their excess funds. Securities sold under agreements to repurchase totaled $10.5 million and $9.9 million at March 31, 2026 and December 31, 2025, respectively.

------

We also maintain lines with certain correspondent banks that provide borrowing capacity in the form of federal funds purchased. Federal funds purchased are short-term borrowings that typically mature within one to fourteen days. Borrowings against these lines, which are classified as federal funds purchased, totaled $85.0 million and $90.0 million as of March 31, 2026 and December 31, 2025, respectively.

*FHLB advances*

As a member of the FHLB system, we may utilize advances from the FHLB in order to provide additional liquidity and funding. Under these short-term agreements, we maintain a line of credit that as of both March 31, 2026 and December 31, 2025 had total borrowing capacity of $2.21 billion. As of March 31, 2026 and December 31, 2025, we had qualifying loans pledged as collateral securing these lines amounting to $3.81 billion and $3.82 billion, respectively. There were no FHLB advances outstanding as of March 31, 2026 or December 31, 2025.

*Subordinated debt*

During the year ended December 31, 2025, we redeemed $30.9 million of junior subordinated debentures and $100.0 million of ten-year fixed-to-floating rate subordinated notes at the principal amount plus accrued interest, in accordance with the terms of the notes.

On July 1, 2025, we assumed three separate fixed-to-floating rate subordinated notes in connection with our merger with Southern States with a principal balance totaling $92.5 million. As of March 31, 2026, no other subordinated debt remained outstanding apart from the debt assumed through this business combination.

Further details regarding our subordinated debt as of March 31, 2026 are provided below.

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| *(dollars in thousands)* | **Year established** | **Maturity** | **Call date** | **Total debt outstanding** | **Total debt outstanding** | **Interest rate** | **Coupon structure** |
| February 2032 Subordinated Debt<sup>(1)</sup> | 2022 | 02/07/2032 | 03/30/2027 | $| 47500 | 3.50% | Quarterly fixed<sup>(2)</sup>  |
| October 2032 Subordinated Debt<sup>(1)</sup> | 2022 | 10/26/2032 | 12/30/2027 | 40000 | 40000 | 7.00% | Quarterly fixed<sup>(2)</sup>  |
| December 2031 Subordinated Debt<sup>(1)</sup> | 2021 | 12/22/2031 | 12/31/2026 | 5000 | 5000 | 3.50% | Quarterly fixed<sup>(2)</sup>  |
| &nbsp;&nbsp;&nbsp;&nbsp; Unamortized fair value marks | &nbsp;&nbsp;&nbsp;&nbsp; Unamortized fair value marks | &nbsp;&nbsp;&nbsp;&nbsp; Unamortized fair value marks | &nbsp;&nbsp;&nbsp;&nbsp; Unamortized fair value marks | (8503) | (8503) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total subordinated debt, net | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total subordinated debt, net | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total subordinated debt, net | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total subordinated debt, net | $| 83997 |  |  |
| <sup>(1)</sup> *The Company classifies the issuance, net of unamortized fair value marks, as Tier 2 capital, which will be phased out 20% per year in the final five years before maturity.*<br><sup>(2)</sup> *Beginning on respective call date, the coupon structure migrates to 3M SOFR plus a spread of 205 basis points, 306 basis points and 242 basis points for the February 2032, October 2032 and December 2031 subordinated issues, respectively, through the end of the term of each debenture.* | <sup>(1)</sup> *The Company classifies the issuance, net of unamortized fair value marks, as Tier 2 capital, which will be phased out 20% per year in the final five years before maturity.*<br><sup>(2)</sup> *Beginning on respective call date, the coupon structure migrates to 3M SOFR plus a spread of 205 basis points, 306 basis points and 242 basis points for the February 2032, October 2032 and December 2031 subordinated issues, respectively, through the end of the term of each debenture.* | <sup>(1)</sup> *The Company classifies the issuance, net of unamortized fair value marks, as Tier 2 capital, which will be phased out 20% per year in the final five years before maturity.*<br><sup>(2)</sup> *Beginning on respective call date, the coupon structure migrates to 3M SOFR plus a spread of 205 basis points, 306 basis points and 242 basis points for the February 2032, October 2032 and December 2031 subordinated issues, respectively, through the end of the term of each debenture.* | <sup>(1)</sup> *The Company classifies the issuance, net of unamortized fair value marks, as Tier 2 capital, which will be phased out 20% per year in the final five years before maturity.*<br><sup>(2)</sup> *Beginning on respective call date, the coupon structure migrates to 3M SOFR plus a spread of 205 basis points, 306 basis points and 242 basis points for the February 2032, October 2032 and December 2031 subordinated issues, respectively, through the end of the term of each debenture.* | <sup>(1)</sup> *The Company classifies the issuance, net of unamortized fair value marks, as Tier 2 capital, which will be phased out 20% per year in the final five years before maturity.*<br><sup>(2)</sup> *Beginning on respective call date, the coupon structure migrates to 3M SOFR plus a spread of 205 basis points, 306 basis points and 242 basis points for the February 2032, October 2032 and December 2031 subordinated issues, respectively, through the end of the term of each debenture.* | <sup>(1)</sup> *The Company classifies the issuance, net of unamortized fair value marks, as Tier 2 capital, which will be phased out 20% per year in the final five years before maturity.*<br><sup>(2)</sup> *Beginning on respective call date, the coupon structure migrates to 3M SOFR plus a spread of 205 basis points, 306 basis points and 242 basis points for the February 2032, October 2032 and December 2031 subordinated issues, respectively, through the end of the term of each debenture.* | <sup>(1)</sup> *The Company classifies the issuance, net of unamortized fair value marks, as Tier 2 capital, which will be phased out 20% per year in the final five years before maturity.*<br><sup>(2)</sup> *Beginning on respective call date, the coupon structure migrates to 3M SOFR plus a spread of 205 basis points, 306 basis points and 242 basis points for the February 2032, October 2032 and December 2031 subordinated issues, respectively, through the end of the term of each debenture.* | <sup>(1)</sup> *The Company classifies the issuance, net of unamortized fair value marks, as Tier 2 capital, which will be phased out 20% per year in the final five years before maturity.*<br><sup>(2)</sup> *Beginning on respective call date, the coupon structure migrates to 3M SOFR plus a spread of 205 basis points, 306 basis points and 242 basis points for the February 2032, October 2032 and December 2031 subordinated issues, respectively, through the end of the term of each debenture.* |

---

*Other borrowings*

Other borrowings include our finance lease liability totaling $1.1 million as of both March 31, 2026 and December 31, 2025. Additionally, other borrowings include optional rights to repurchase GNMA loans previously sold that meet certain defined delinquency criteria and are eligible for repurchase totaling $32.6 million and $28.1 million as of March 31, 2026 and December 31, 2025, respectively. See Note 6, "Leases" and Note 11, "Fair value of financial instruments" within the notes to our consolidated financial statements herein for additional information regarding our finance lease and optional rights to repurchase GNMA loans, respectively.

Other borrowings may periodically include borrowings from the Federal Reserve's Discount Window or other borrowing programs available to us as an additional source of short-term liquidity. As of March 31, 2026 and December 31, 2025, there were no such other borrowings outstanding. Under our Borrower-in-Custody arrangement, we are permitted to pledge qualifying loans as collateral while retaining possession of the loan documentation. As of March 31, 2026 and December 31, 2025, we had pledged loan collateral totaling $2.94 billion and $2.88 billion, respectively, to the Federal Reserve under the Borrower-in-Custody program, resulting in total borrowing capacity of $2.32 billion and $2.27 billion, respectively.

------

**Liquidity and capital resources**

We are expected to maintain adequate liquidity at the Bank to meet the cash flow requirements of clients who may be either depositors wishing to withdraw funds or borrowers needing assurance that sufficient funds will be available to meet their credit needs. Our Liquidity Policy is intended to cause the Bank to maintain adequate liquidity and, therefore, enhance our ability to raise funds to support asset growth, meet deposit withdrawals and lending needs and otherwise sustain our operations. We accomplish this through management of the maturities of our interest-earning assets and interest-bearing liabilities. We believe that our present position is adequate to meet our current and future liquidity needs.

We continuously monitor our liquidity position to ensure that assets and liabilities are managed in a manner that will meet all of our short-term and long-term cash requirements. We manage our liquidity position to meet the daily cash flow needs of clients, while maintaining an appropriate balance between assets and liabilities to optimize our net interest margin. We also monitor our liquidity requirements in light of interest rate trends, changes in the economy and the scheduled maturity and interest rate sensitivity of the investment and loan portfolios and deposits.

As part of our liquidity management strategy, we focus on minimizing our costs of liquidity and attempt to decrease these costs by growing our noninterest-bearing and other low-cost deposits, while replacing higher cost funding sources. While we do not control the types of deposit instruments our clients choose, we do influence those choices with the rates and the deposit specials we offer. Increasing interest rates generally attracts customers to higher cost interest-bearing deposit products as they seek to maximize their yield.

Our investment portfolio is another alternative for meeting liquidity needs. These assets generally have readily available markets that offer conversions to cash as needed. AFS debt securities within our investment portfolio are typically used to secure government, public, trust and other deposits and as collateral for short-term borrowings, letters of credit and derivative instruments. As of March 31, 2026 and December 31, 2025, we had pledged securities with carrying values of $861.4 million and $810.6 million, respectively.

Additional sources of liquidity include federal funds purchased, repurchase agreements, FHLB borrowings, Federal Reserve Discount Window borrowings and lines of credit. Interest is charged at the prevailing market rate on federal funds purchased, reverse repurchase agreements and FHLB advances, and at the Federal Reserve's primary credit rate for Discount Window borrowings.

Overnight advances obtained from the FHLB are used primarily to meet day to day liquidity needs, particularly when the cost of such borrowing compares favorably to the rates that we would be required to pay to attract deposits. There were no FHLB advances outstanding as of March 31, 2026 or December 31, 2025. As of both March 31, 2026 and December 31, 2025, we had the ability to borrow $2.21 billion through FHLB advances, all of which remained available.

Short-term borrowings from the Federal Reserve's Discount Window serve as an additional contingent source of liquidity. The Company accesses the Discount Window through its Borrower-in-Custody collateral arrangement, which permits the Bank to pledge qualifying loans while retaining custody of the underlying loan documentation. There were no Federal Reserve Discount Window borrowings outstanding as of March 31, 2026 or December 31, 2025. As of March 31, 2026, we had borrowing capacity of $2.32 billion under the Discount Window Borrower-in-Custody program, all of which remained available. As of December 31, 2025, capacity totaled $2.27 billion, all of which remained available.

We also maintained unsecured lines of credit with other commercial banks totaling $405.0 million as of both March 31, 2026 and December 31, 2025. These are unsecured, uncommitted lines of credit typically maturing at various times within the next twelve months. Borrowings against these lines, which are classified as federal funds purchased, totaled $85.0 million and $90.0 million as of March 31, 2026 and December 31, 2025, respectively. As of both March 31, 2026 and December 31, 2025, we also had $50.0 million available through the IntraFi network, which allows us to offer banking customers access to FDIC insurance protection on deposits through our Bank which exceed FDIC insurance limits.

------

Our current on-balance sheet liquidity and available sources of liquidity are summarized in the table below:

---

| | | |
|:---|:---|:---|
|<br>*(dollars in thousands)* | **March 31,**<br>**2026** | **December 31,**<br>**2025** |
| Current on-balance sheet liquidity: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | $1157763 | $1155895 |
| &nbsp;&nbsp;&nbsp;&nbsp;Unpledged AFS debt securities | 637182 | 649000 |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity securities, at fair value |  | 155 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total on-balance sheet liquidity | $1794945 | $1805050 |
| Available sources of liquidity: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Unsecured borrowing capacity<sup>(1)</sup> | $4021984 | $3915314 |
| &nbsp;&nbsp;&nbsp;&nbsp;FHLB remaining borrowing capacity | 2213251 | 2214796 |
| &nbsp;&nbsp;&nbsp;&nbsp;Federal Reserve discount window | 2319521 | 2268599 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total available sources of liquidity | $8554756 | $8398709 |
| On-balance sheet liquidity as a percentage of total assets | 10.9% | 11.1% |
| On-balance sheet liquidity and available sources of liquidity as a percentage of estimated<br>&nbsp;&nbsp;&nbsp;&nbsp; uninsured and uncollateralized deposits<sup>(2)</sup> | 255.0% | 249.8% |

---

*(1)Includes capacity available per internal policy in the form of brokered deposits and unsecured lines of credit.* 

*(2)Amounts are shown on a fully consolidated basis and exclude deposits of affiliates that are eliminated in consolidation.* 

The Company also maintains the ability to access capital markets to meet its liquidity needs. The Company may utilize various methods to raise capital, including through the sale of common stock, preferred stock, debt securities, warrants, rights, or other securities. Specific terms and prices would be determined at the time of any such offering. In the past, the Company has utilized capital markets to generate liquidity in the form of common stock and subordinated debt primarily for the purpose of funding acquisitions.

The Company is a corporation separate and apart from the Bank and, therefore, it must provide for its own liquidity. The Company's main source of funding is dividends declared and paid by the Bank to the Company. Statutory and regulatory limitations exist that affect the ability of the Bank to pay dividends to the Company. Management believes that these limitations will not impact the Company's ability to meet its ongoing short-term cash obligations. For additional information regarding dividend restrictions, see the "Item 1. Business - Supervision and regulation," "Item 1A. Risk Factors - Risks related to our business" and "Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities - Dividends," each of which is set forth in our Annual Report on Form 10-K for the year ended December 31, 2025.

Due to state banking laws and the Federal Reserve's Regulation H, the Bank may not declare dividends in any calendar year in an amount exceeding the total of its net income for that year combined with its retained net income of the preceding two years, without the prior approval of the TDFI and/or Federal Reserve. In addition, dividends paid by the Bank to the Company would be prohibited if the effect thereof would cause the Bank's capital to be reduced below applicable minimum capital requirements. Dividends paid by the Bank to the holding company were made in accordance with applicable state banking laws and the Federal Reserve's Regulation H. During the three months ended March 31, 2026 and 2025, the Board approved cash dividends totaling $35.8 million and $9.8 million, respectively, for payment from the Bank to the holding company. Subsequent to March 31, 2026, the Board approved an additional dividend of $35.6 million to be paid during the second quarter of 2026.

During the three months ended March 31, 2026, the Company declared shareholder dividends of $0.21 per share, or $11.1 million. During the three months ended March 31, 2025, the Company declared shareholder dividends of $0.19 per share, or $9.0 million. Subsequent to three months ended March 31, 2026, the Company declared a quarterly dividend in the amount of $0.21 per share, payable on May 26, 2026, to stockholders of record as of May 12, 2026.

Our total shareholders' equity was $1.97 billion and $1.95 billion as of March 31, 2026 and December 31, 2025, respectively. The increase in shareholders' equity was primarily attributable to net income of $57.5 million. This increase was partially offset by dividends declared of $11.1 million and stock repurchases of $21.8 million. Book value per common share was $38.39 as of March 31, 2026 and $37.64 as of December 31, 2025.

------

Our capital management consists of providing adequate equity to support our current and future operations. We are subject to various regulatory capital requirements administered by state and federal banking agencies, including the TDFI, Federal Reserve and the FDIC. Failure to meet minimum capital requirements may prompt certain actions by regulators that, if undertaken, could have a direct material adverse effect on our financial condition and results of operations. The Federal Reserve and the FDIC have issued guidelines governing the levels of capital that banks must maintain. As of March 31, 2026 and December 31, 2025, we met all capital adequacy requirements for which we were subject. See additional discussion regarding our capital adequacy and ratios within Note 13, "Minimum capital requirements" in the notes to our consolidated financial statements contained herein.

---

| | | | |
|:---|:---|:---|:---|
| **March 31, 2026** | **FB Financial Corporation** | **FirstBank** | <br>**To be Well-Capitalized**<sup>(1)</sup> |
| Total risk-based capital ratio | 13.4% | 13.1% | 10.0% |
| Tier 1 risk-based capital ratio | 11.5% | 11.8% | 8.0% |
| Common equity tier 1 ratio | 11.5% | 11.8% | 6.5% |
| Tier 1 leverage ratio | 10.4% | 10.6% | 5.0% |

---

*(1) Applicable to Bank level capital.* 

Capital ratios are well above regulatory requirements for well-capitalized institutions. Management uses risk-based capital ratios in its analysis of the measures to assess the quality of capital and believes that investors may find it useful in their analysis of the Company.

**ITEM 3 — Quantitative and Qualitative Disclosures About Market Risk**

***Interest rate sensitivity***

Our market risk arises primarily from interest rate risk inherent in the normal course of lending and deposit-taking activities. Management believes that our ability to successfully respond to changes in interest rates will have a significant impact on our financial results. To that end, management actively monitors and manages our interest rate risk exposure.

The ALCO, which is authorized by our Board of Directors, monitors our interest rate sensitivity and makes decisions relating to that process. The ALCO's goal is to structure our asset/liability composition to maximize net interest income while managing interest rate risk so as to minimize the adverse impact of changes in interest rates on net interest income and capital in either a rising or declining interest rate environment. Profitability is affected by fluctuations in interest rates. A sudden and substantial change in interest rates may adversely impact our earnings because the interest rates borne by assets and liabilities do not change at the same speed, to the same extent or on the same basis.

We monitor the impact of changes in interest rates on our net interest income and economic value of equity using rate shock analysis. Net interest income simulations measure the short-term earnings exposure from changes in market rates of interest in a rigorous and explicit fashion. Our current financial position is combined with assumptions regarding future business to calculate net interest income under varying hypothetical rate scenarios. EVE measures our long-term earnings exposure from changes in market rates of interest. EVE is defined as the present value of assets minus the present value of liabilities at a point in time. A decrease in EVE due to a specified rate change indicates a decline in the long-term earnings capacity of the balance sheet assuming that the rate change remains in effect over the life of the current balance sheet. For purposes of calculating EVE, a zero percent floor is assumed on discount factors.

------

The following analysis depicts the estimated impact on net interest income and EVE of immediate changes in interest rates at the specified levels for the periods presented:

---

| | | |
|:---|:---|:---|
| | **Percentage change in:** | **Percentage change in:** |
| | **Net interest income** <sup>(1)</sup> | **Net interest income** <sup>(1)</sup> |
| | **March 31,** | **December 31,** |
|<br>**Change in interest rates**<br>**(in basis points)** | **2026** | **2025** |
| +400 | 12.1% | 11.7% |
| +300 | 9.80% | 9.50% |
| +200 | 6.76% | 6.57% |
| +100 | 3.49% | 3.40% |
| -100 | (3.60)% | (3.48)% |
| -200 | (6.76)% | (6.63)% |
| -300 | (9.42)% | (8.90)% |

---

---

| | | |
|:---|:---|:---|
| | **Percentage change in:** | **Percentage change in:** |
| | **Economic value of equity** <sup>(2)</sup> | **Economic value of equity** <sup>(2)</sup> |
| | **March 31,** | **December 31,** |
|<br>**Change in interest rates**<br>**(in basis points)** | **2026** | **2025** |
| +400 | (15.8)% | (14.8)% |
| +300 | (11.7)% | (11.2)% |
| +200 | (7.10)% | (6.84)% |
| +100 | (3.12)% | (3.03)% |
| -100 | 2.07% | 2.13% |
| -200 | 3.10% | 3.27% |
| -300 | 3.06% | 3.35% |

---

*(1)The percentage change represents the projected net interest income for 12 months on a static balance sheet in a stable interest rate environment compared to the projected net interest income in the various rate scenarios.*

*(2)The percentage change in this column represents our EVE in a stable interest rate environment compared to EVE in the various rate scenarios.*

The results for the net interest income simulations as of March 31, 2026 and December 31, 2025 resulted in an asset sensitive position. The primary influence of our asset sensitivity is the floating rate structure in many of our loans held for investment as well as the composition of our liabilities which is primarily customer deposits. Our floating-rate loan portfolio is indexed to market rates and the timing and magnitude of loan and deposit repricing varies in proportion to market rate fluctuations. We actively monitor and perform stress tests on our deposit betas as part of our overall management of interest rate risk. This requires the use of various assumptions based on historical relationships of these variables in reaching any conclusion. Since these correlations are based on competitive pricing in the market, we anticipate that our future results will likely be different from the scenario results presented above and such differences could be material.

The preceding measures assume no change in the size or asset/liability compositions of the balance sheet. Thus, the measures do not reflect any actions the ALCO may undertake in response to such changes in interest rates. The scenarios assume instantaneous movements in interest rates in increments up to 400 basis points and down to 300 basis points. As interest rates are adjusted over a period of time, it is our strategy to proactively change the volume and mix of our balance sheet in order to mitigate our interest rate risk. The computation of the prospective effects of hypothetical interest rate changes requires numerous assumptions regarding characteristics of new business and the behavior of existing positions. These business assumptions are based upon our experience, business plans and published industry experience. Key assumptions employed in the model include asset prepayment speeds, competitive factors, the relative price sensitivity of certain assets and liabilities and the expected life of non-maturity deposits. Because these assumptions are inherently uncertain, actual results may differ from simulated results.

We may utilize derivative financial instruments as part of an ongoing effort to mitigate interest rate risk exposure to interest rate fluctuations and facilitate the needs of our customers. For more information about our derivative financial instruments, see Note 10, "Derivatives" in the notes to our consolidated financial statements.

------

**ITEM 4 — CONTROLS AND PROCEDURES**

**Evaluation of Disclosure Controls and Procedures**

An evaluation of the Company's disclosure controls and procedures (as defined in Rule 13a-15(e) or Rule 15d-15(e) under the Securities Exchange Act of 1934, as amended (the "Exchange Act")) as of the end of the period covered by this Report was carried out under the supervision and with the participation of the Company's Chief Executive Officer, Chief Financial Officer and other members of the Company's senior management. The Company's Chief Executive Officer and Chief Financial Officer concluded that, as of the end of the period covered by this Report, the Company's disclosure controls and procedures were effective in ensuring that the information required to be disclosed by the Company in the reports it files or submits under the Exchange Act is: (i) accumulated and communicated to the Company's management (including the Chief Executive Officer and Chief Financial Officer) to allow timely decisions regarding required disclosure; and (ii) recorded, processed, summarized and reported within the time periods specified in the SEC's rules and forms.

There were no changes in the Company's internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) that occurred during the quarter ended March 31, 2026, that have materially affected, or are reasonably likely to materially affect, the Company's internal control over financial reporting.

The Company does not expect that its disclosure controls and procedures and internal control over financial reporting will prevent all errors and fraud. A control procedure, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the control procedure are met. Because of the inherent limitations in all control procedures, no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, within the Company have been detected. These inherent limitations include the realities that judgments in decision making can be faulty, and that breakdowns can occur because of simple error or mistake. Additionally, controls can be circumvented by the individual acts of some persons, by collusion of two or more people, or by management override of the control. The design of any control procedure also is based in part upon certain assumptions about the likelihood of future events, and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions. Over time, controls may become inadequate because of changes in conditions, or the degree of compliance with the policies or procedures may deteriorate. Because of the inherent limitations in a cost-effective control procedure, misstatements due to error or fraud may occur and not be detected.

------

**PART II**

**ITEM 1—LEGAL PROCEEDINGS**

Various legal proceedings to which we or our subsidiaries are party arise from time to time in the normal course of business. As of the date of this Report, there are no material pending legal proceedings to which we or any of our subsidiaries is a party or of which any of our or our subsidiaries' properties are subject.

**ITEM 1A—RISK FACTORS**

There have been no material changes to the risk factors set forth in the "Risk Factors" section of our Annual Report on Form 10-K for the year ended December 31, 2025.

**ITEM 2—UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS**

The following table provides information about repurchases of common stock by the Company during the quarter ended March 31, 2026:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Period** | **(a) <br>Total number of shares purchased** | **(b)** <br>**Average price paid per share**<sup>(1)</sup> | **(c) <br>Total number of shares purchased as part of publicly announced plans or programs** | **(d)** <br>**Maximum number (or approximate dollar value) of shares that may yet be purchased under the plans or programs**<sup>(1)</sup>  |
| January 1 - January 31 |  | $— |  | $62092601 |
| February 1 - February 28 |  |  |  | 62092601 |
| March 1 - March 31 | 426983 | 51.14 | 426983 | 40256690 |
| Total | 426983 | $51.14 | 426983 | $40256690 |

---

(1) Amounts are inclusive of commissions, fees and excise tax related to the stock repurchases.

On September 15, 2025, the Company announced that its board of directors authorized a repurchase program pursuant to which the Company may purchase up to $150 million in shares of the Company's issued and outstanding common stock (the "***2025 Repurchase Plan***"). The 2025 Repurchase Plan was set to expire on January 31, 2027 and was designed to comply with Rule 10b-18 promulgated under the Exchange Act.

Subsequent to March 31, 2026, the Company announced that its board of directors approved a new stock repurchase program pursuant to which the Company may purchase up to $175 million in shares of the Company's issued and outstanding common stock. The current repurchase plan replaces the 2025 Repurchase Plan and will terminate either on the date on which the maximum dollar amount is repurchased under the new repurchase plan or on June 30, 2027, whichever date occurs earlier. The new repurchase plan will be conducted pursuant to a written plan and is intended to comply with Rule 10b-18 promulgated under the Exchange Act.

**ITEM 5 — OTHER INFORMATION**

**Rule 10b5-1 Trading Plans**

During the quarter ended March 31, 2026, none of the Company's directors or executive officers adopted, modified, or terminated any contract, instruction, or written plan for the purchase or sale of Company securities that was intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) or any "non-Rule 10b5-1 trading arrangement."

------

**ITEM 6—EXHIBITS**

The exhibits listed on the accompanying Exhibit Index are filed, furnished or incorporated by reference (as stated therein) as part of this Report.

**EXHIBIT INDEX**

---

| | |
|:---|:---|
| **<u>Exhibit Number</u>** | **<u>Description</u>** |
| <u>[2.1](https://www.sec.gov/Archives/edgar/data/1649749/000164974925000069/ex21mergeragreement.htm)</u> | <u>[Agreement and Plan of Merger, dated as of March 31, 2025, by and between FB Financial Corporation and Southern States Bancshares, Inc. (incorporated by reference to Exhibit 2.1 the Company's Current Report on Form 8-K (File No. 001-37875) filed on March 31, 2025)](https://www.sec.gov/Archives/edgar/data/1649749/000164974925000069/ex21mergeragreement.htm)</u> |
| <u>[3.1](https://www.sec.gov/Archives/edgar/data/1649749/000164974925000035/exhibit31fbfinancialcorpor.htm)</u> | <u>[Amended and Restated Charter, as amended for SEC filing purposes only (incorporated by reference to Exhibit 3.1 to the Company's Annual Report on Form 10-K for the year ended December 31, 2024 (File No. 001-37875) filed on February 25, 2025)](https://www.sec.gov/Archives/edgar/data/1649749/000164974925000035/exhibit31fbfinancialcorpor.htm)</u> |
| <u>[3.2](https://www.sec.gov/Archives/edgar/data/1649749/000156459016029302/fbk-ex32_288.htm)</u> | <u>[Amended and Restated Bylaws of FB Financial Corporation (incorporated by reference to Exhibit 3.2 to the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2016 (File No. 001-37875) filed on November 14, 2016)](https://www.sec.gov/Archives/edgar/data/1649749/000156459016029302/fbk-ex32_288.htm)</u> |
| <u>[4.1](https://www.sec.gov/Archives/edgar/data/1649749/000156459016029302/fbk-ex41_289.htm)</u> | <u>[Registration Rights Agreement by and between FB Financial Corporation and James W. Ayers, dated September 15, 2016 (incorporated by reference as Exhibit 4.1 to the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2016 (File No. 001-37875) filed on November 14, 2016)](https://www.sec.gov/Archives/edgar/data/1649749/000156459016029302/fbk-ex41_289.htm)</u> |
| <u>[10.1](ex1012026rsuawardagreement.htm)</u> | <u>[Form of Restricted Stock Unit Award Certificate (2026) pursuant to the FB Financial Corporation 2016 Incentive Plan \*†](ex1012026rsuawardagreement.htm)</u> |
| <u>[10.2](ex1022026psuawardagreement.htm)</u> | <u>[Form of Performance-Based Restricted Stock Unit Award Certificate (2026) pursuant to the FB Financial Corporation 2016 Incentive Plan \*†](ex1022026psuawardagreement.htm)</u> |
| <u>[31.1](a1q26ex-311.htm)</u> | <u>[Rule 13a-14(a) Certification of Chief Executive Officer\*](a1q26ex-311.htm)</u> |
| <u>[31.2](a1q26ex-312.htm)</u> | <u>[Rule 13a-14(a) Certification of Chief Financial Officer\*](a1q26ex-312.htm)</u> |
| <u>[32.1](a1q26ex-321.htm)</u> | <u>[Section 1350 Certification of Chief Executive Officer and Chief Financial Officer\*\*](a1q26ex-321.htm)</u> |
| 101.INS | Inline XBRL Instance Document\* |
| 101.SCH | Inline XBRL Taxonomy Extension Schema Document\* |
| 101.CAL | Inline XBRL Taxonomy Extension Calculation Linkbase Document\* |
| 101.DEF | Inline XBRL Taxonomy Extension Definition Linkbase Document\* |
| 101.LAB | Inline XBRL Taxonomy Extension Label Linkbase Document\* |
| 101.PRE | Inline XBRL Taxonomy Extension Presentation Linkbase Document\* |
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) |
| \* | Filed herewith. |
| \*\* | Furnished herewith. |
| † | Represents a management contract or a compensatory plan or arrangement. |

---

------

**Signatures**

Pursuant to the requirements of the section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned thereunto duly authorized.

---

| | |
|:---|:---|
| | **FB Financial Corporation**<br>/s/ Michael M. Mettee |
| May 4, 2026 | **Michael M. Mettee**<br>Chief Financial Officer & Chief Operating Officer<br>(Principal Financial Officer) |
|  | /s/ Lynn J. Joyce |
| May 4, 2026 | **Lynn J. Joyce** <br>Chief Accounting Officer<br>(Principal Accounting Officer) |

---

## Exhibit 10.1

**Exhibit 10.1**

***2026 RSU Award Agreement***

**RESTRICTED STOCK UNIT** 

**AWARD AGREEMENT**

*Non-transferable*

GRANT TO

___________________________

("<u>Grantee</u>")

by FB Financial Corporation (the "<u>Company</u>") of

________ restricted stock units convertible, on a one-for-one basis, into shares of Stock (the "Units").

The Units are granted pursuant to and subject to the provisions of the FB Financial Corporation 2016 Incentive Plan (the "Plan") and to the terms and conditions set forth on the following pages (the "<u>Terms and Conditions</u>"). By accepting the Units, Grantee shall be deemed to have agreed to the Terms and Conditions set forth in this Award Agreement (the "Award Agreement") and the Plan. Capitalized terms used herein and not otherwise defined shall have the meanings assigned to such terms in the Plan.

Unless vesting is accelerated in accordance with the Plan or Section 1 of the Terms and Conditions, the Units shall vest (become non-forfeitable) in accordance with the following schedule, subject to Grantee's Continuous Service on each vesting date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| <br><u>Vesting Date</u> | Percent of <u><br>Units Vesting</u> |
| xx-1-2027<br>xx-1-2028<br>xx-1-2029 | 33 1/3%<br>33 1/3%<br>33 1/3% |

---

IN WITNESS WHEREOF, FB Financial Corporation, acting by and through its duly authorized officers, has caused this Award Agreement to be duly executed.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FB FINANCIAL CORPORATION<br>![image_0a.jpg](image_0a.jpg)<br>By: Christopher T. Holmes<br>Its: President & CEO | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GRANTEE<br><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u><br>[NAME] |
| Grant Date: xx-xx-2026 |  |

---

------

TERMS AND CONDITIONS

1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Vesting of Units</u>. The Units will vest and become non-forfeitable on the earliest to occur of the following (each, a "<u>Vesting Date</u>"):

(a)&nbsp;&nbsp;&nbsp;&nbsp;as to the percentages of the Units specified on the cover page hereof, on the respective Vesting Dates specified on the cover page hereof, subject to Grantee's Continuous Service on each vesting date;

(b)&nbsp;&nbsp;&nbsp;&nbsp;as to all of the Units, on the termination of Grantee's Continuous Service by the Company by reason of Grantee's death;

(c)&nbsp;&nbsp;&nbsp;&nbsp;as to all of the Units, on the termination of Grantee's Continuous Service by the Company by reason of Grantee's Disability;

(d)&nbsp;&nbsp;&nbsp;&nbsp;as to the percentages of the Units specified on the cover page hereof, on the respective Vesting Dates specified on the cover page hereof, on the termination of Grantee's Continuous Service by the Company by reason of Grantee's Retirement. For purposes of this Award Agreement, a "<u>Retirement</u>" means Grantee's voluntary termination of Continuous Service, other than a termination for Cause, after Grantee has attained (i) age 65, or (ii) age 60 with at least 10 years of service;

(e)&nbsp;&nbsp;&nbsp;&nbsp;as to all of the Units, on the termination of Grantee's Continuous Service by the Company without Cause;

(f)&nbsp;&nbsp;&nbsp;&nbsp;as to all of the Units, on the occurrence of a Change in Control, unless the Units are assumed by the surviving entity or otherwise equitably converted or substituted in connection with the Change in Control; or

(g)&nbsp;&nbsp;&nbsp;&nbsp;as to all of the Units, if the Units are assumed by the surviving entity or otherwise equitably converted or substituted in connection with a Change in Control, on the termination of Grantee's employment by the Company without Cause (or Grantee's resignation for Good Reason as provided in any employment, severance or similar agreement between Grantee and the Company or an Affiliate) within two years after the effective date of the Change in Control.

If Grantee's Continuous Service terminates prior to a Vesting Date for any reason other than as described in (b), (c), (d), (e) or (g) above, Grantee shall forfeit all right, title and interest in and to the then unvested Units as of the date of such termination and the unvested Units will be reconveyed to the Company without further consideration or any act or action by Grantee.

2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Conversion to Stock</u>. The Units that vest upon a Vesting Date will be converted to shares of Stock on the Vesting Date (the "<u>Conversion Date</u>"). Notwithstanding the foregoing, if (i) the Vesting Date occurs by reason of Section 1(c), (e) or (g) hereof, and (ii) Grantee is a "specified employee" of the Company (as defined in Section 409A of the Code and applicable regulations) as of the date of his or her termination of employment, then, to the extent required by Section 409A of the Code, the shares of Stock will be delivered to Grantee on the first day of the seventh month following the date of Grantee's termination of employment. The shares of Stock will be registered in the name of Grantee as of the Conversion Date, and certificates for the shares of Stock (or, at the option of the Company, statements of book entry notation of the shares of Stock in the name of Grantee in lieu thereof) shall be delivered to Grantee or Grantee's designee upon request of Grantee as soon as practicable after the Conversion Date.

3.&nbsp;&nbsp;&nbsp;&nbsp;<u>Dividend Rights</u>. If any dividends or other distributions are paid with respect to the Stock while the Units are outstanding, the dollar amount or fair market value of such dividends or distributions with respect to the number of shares of Stock then underlying the Units shall be credited to a bookkeeping account and held (without interest) by the Company for the account of Grantee. Such amounts shall be

------

subject to the same vesting and forfeiture provisions as the Units to which they relate. The number of dividend equivalents credited to Grantee's account shall be paid by the Company in the form of a cash payment to Grantee as soon as reasonably practicable following the applicable Vesting Date.

4.&nbsp;&nbsp;&nbsp;&nbsp;<u>Voting Rights</u>. Grantee shall not have voting rights with respect to the Units. Upon conversion of the Units into shares of Stock, Grantee will obtain full voting rights and other rights as a shareholder of the Company.

5.&nbsp;&nbsp;&nbsp;&nbsp;<u>No Right of Continued Service</u>. Nothing in this Award Agreement shall interfere with or limit in any way the right of the Company or any Affiliate to terminate Grantee's service at any time, nor confer upon Grantee any right to continue to provide services to the Company or any Affiliate.

6.&nbsp;&nbsp;&nbsp;&nbsp;<u>Restrictions on Transfer and Pledge</u>. No right or interest of Grantee in the Units may be pledged, encumbered, or hypothecated to or in favor of any party, or shall be subject to any lien, obligation, or liability of Grantee to any other party. The Units are not assignable or transferable by Grantee other than by will or the laws of descent and distribution.

7.&nbsp;&nbsp;&nbsp;&nbsp;<u>Restrictions on Issuance of Shares</u>. If at any time the Committee shall determine, in its discretion, that registration, listing or qualification of the Shares underlying the Units upon any Exchange or under any foreign, federal, or local law or practice, or the consent or approval of any governmental regulatory body, is necessary or desirable as a condition to the settlement of the Units, the Units will not be converted to Shares in whole or in part unless and until such registration, listing, qualification, consent or approval shall have been effected or obtained free of any conditions not acceptable to the Committee.

8.&nbsp;&nbsp;&nbsp;&nbsp;<u>Payment of Taxes</u>. The Company or any employer Affiliate has the authority and the right to deduct or withhold, or require Grantee to remit to the employer, an amount sufficient to satisfy federal, state, and local taxes (including Grantee's FICA obligation) required by law to be withheld with respect to any taxable event arising in connection with the Units. The withholding requirement shall be satisfied by withholding from the settlement of the Units Shares having a Fair Market Value on the date of withholding equal to the minimum amount required to be withheld for tax purposes.

9.&nbsp;&nbsp;&nbsp;&nbsp;<u>Plan Controls; Employment Agreement</u>. The terms contained in the Plan are incorporated into and made a part of this Award Agreement, and this Award Agreement shall be governed by and construed in accordance with the Plan. In the event of any actual or alleged conflict between the provisions of the Plan and the provisions of this Award Agreement, the provisions of the Plan shall be controlling and determinative. Any conflict between this Award Agreement and the terms of a written employment or change-in-control agreement with Grantee that has been approved by the Committee shall be decided in favor of the provisions of such employment or change-in-control agreement.

10.&nbsp;&nbsp;&nbsp;&nbsp;<u>Successors</u>. This Award Agreement shall be binding upon any successor of the Company, in accordance with the terms of this Award Agreement and the Plan.

11. &nbsp;&nbsp;&nbsp;&nbsp;<u>Severability</u>. If any provision or portion of this Award Agreement shall be or become illegal, invalid or unenforceable in whole or in part for any reason, such provision shall be ineffective only to the extent of such illegality, invalidity or unenforceability without invalidating the remainder of such provision or the remaining provisions of this Award Agreement. Upon such determination that any term or other provision is illegal, invalid, or incapable of being enforced, the parties hereto shall negotiate in good faith to modify this Award Agreement so as to effect the original intent of the parties as closely as possible in

------

an acceptable manner to the end that the agreements contemplated hereby are fulfilled to the extent possible.

12. &nbsp;&nbsp;&nbsp;&nbsp;<u>Non-Waiver of Rights and Breaches</u>. No failure or delay of any party hereto in the exercise of any right given to such party hereunder shall constitute a waiver thereof unless the time specified herein for the exercise of such right has expired, nor shall any single or partial exercise of any right preclude other or further exercise thereof or of any other right. The waiver of a party hereto of any default of any other party shall not be deemed to be a waiver of any subsequent default or other default by such party, whether similar or dissimilar in nature.

13. &nbsp;&nbsp;&nbsp;&nbsp;<u>Interpretation</u>. The headings contained in this Award Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Award Agreement. The language in all parts of this Award Agreement shall in all cases be construed according to its fair meaning, and not strictly for or against any party hereto. In this Award Agreement, unless the context otherwise requires, the masculine, feminine and neutral genders and the singular and the plural include one another.

14.&nbsp;&nbsp;&nbsp;&nbsp;<u>Notice</u>. Notices hereunder must be in writing, delivered personally or sent by registered or certified U.S. mail, return receipt requested, postage prepaid. Notices to the Company must be addressed to FB Financial Corporation, 1221 Broadway, Suite 1300, Nashville, TN 37203; Attn: Corporate Secretary, or any other address designated by the Company in a written notice to Grantee. Notices to Grantee will be directed to the address of Grantee then currently on file with the Company, or at any other address given by Grantee in a written notice to the Company.

15.&nbsp;&nbsp;&nbsp;&nbsp;<u>Clawback</u>. The Units shall be subject to the Company's Compensation Recovery Policy to the extent applicable, or any other compensation recoupment policy of the Company that is applicable by its terms to Grantee and to awards of this type.

16.&nbsp;&nbsp;&nbsp;&nbsp;<u>Restrictive Covenants</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;*Restriction on Disclosure and Use of Confidential Information*. Grantee agrees that Grantee shall not, directly or indirectly, use any Confidential Information on Grantee's own behalf or on behalf of any Person other than the Company, or reveal, divulge, or disclose any Confidential Information to any Person not expressly authorized by the Company to receive such Confidential Information. This obligation shall remain in effect for as long as the information or materials in question retain their status as Confidential Information. Grantee further agrees to fully cooperate with the Company in maintaining the Confidential Information to the extent permitted by law. The Company and Grantee acknowledge and agree that this Award Agreement is not intended to, and does not, alter either the Company's rights or Grantee's obligations under any state or federal statutory or common law regarding trade secrets and unfair trade practices. Anything herein to the contrary notwithstanding, Grantee shall not be restricted from disclosing information that is required to be disclosed by law, court order, or other valid and appropriate legal process; *provided*, *however*, that in the event such disclosure is required by law, Grantee shall provide the Company with prompt notice of such requirement so that the Company may seek an appropriate protective order prior to any such required disclosure by Grantee. Grantee understands and acknowledges that nothing in this section limits Grantee's ability to report possible violations of federal, state, or local law or regulation to any governmental agency or entity; to communicate with any government agencies or otherwise participate in any investigation or proceeding that may be conducted by any government agencies in connection with any charge or complaint, whether filed by Grantee, on Grantee's behalf, or by any other individual; or to make other disclosures that are protected under the whistleblower provisions of federal, state, or local law or regulation, and Grantee shall not need the prior

------

authorization of the Company to make any such reports or disclosures and shall not be required to notify the Company that Grantee has made such reports or disclosures. In addition, and anything herein to the contrary notwithstanding, Grantee is hereby given notice that Grantee shall not be criminally or civilly liable under any federal or state trade secret law for disclosing a trade secret (as defined by 18 U.S.C. § 1839) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney, in either event solely for the purpose of reporting or investigating a suspected violation of law; or disclosing a trade secret (as defined by 18 U.S.C. § 1839) in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;*Non-Solicitation of Protected Customers*. Grantee agrees that, during the Restricted Period, Grantee shall not, without the prior written consent of the Company, directly or indirectly, on Grantee's own behalf or as a Principal or Representative of any Person, solicit, divert, take away, or attempt to solicit, divert, or take away a Protected Customer for the purpose of engaging in, providing, or selling Competitive Services.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;*Non-Recruitment of Employees and Independent Contractors.* Grantee agrees that during the Restricted Period, Grantee shall not, without the prior written consent of the Company, directly or indirectly, whether on Grantee's own behalf or as a Principal or Representative of any Person, solicit or induce or attempt to solicit or induce any employee or independent contractor of the Company to terminate an employment or other relationship with the Company or to enter into employment or any other kind of business relationship with Grantee or any other Person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;*Proprietary Rights.* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i.&nbsp;&nbsp;&nbsp;&nbsp;Grantee agrees that any and all Confidential Information and Protected Works are the sole property of the Company, and that no compensation in addition to Grantee's compensation hereunder is due to Grantee for development or transfer of such Protected Works. Grantee agrees that Grantee shall promptly disclose in writing to the Company the existence of any Protected Works. Grantee hereby assigns and agrees to assign all of Grantee's rights, title, and interest in any and all Protected Works, including all patents or patent applications, and all copyrights therein, to the Company. Grantee shall not be entitled to use Protected Works for Grantee's own benefit or the benefit of anyone except the Company without written permission from the Company and then only subject to the terms of such permission. Grantee further agrees that Grantee shall communicate to the Company any facts known to Grantee and testify in any legal proceedings, sign all lawful papers, make all rightful oaths, execute all divisionals, continuations, continuations-in-part, foreign counterparts, or reissue applications, all assignments, all registration applications, and all other instruments or papers to carry into full force and effect the assignment, transfer, and conveyance hereby made or to be made and generally do everything possible for title to the Protected Works and all patents or copyrights or trademarks or service marks therein to be clearly and exclusively held by the Company. Grantee agrees that Grantee shall not oppose or object in any way to applications for registration of Protected Works by the Company or others designated by the Company. Grantee agrees to exercise reasonable care to avoid making Protected Works available to any third party and shall be liable to Company for all damages and expenses, including reasonable attorneys' fees, if Protected Works are made available to third parties by Grantee without the express written consent of the Company.

Anything herein to the contrary notwithstanding, Grantee shall not be obligated to assign to the Company any Protected Work for which no equipment, supplies, facilities, or Confidential Information of the Company was used and which was developed entirely on Grantee's own time, unless (A) the invention relates (1) directly to the business of the Company, or (2) to the Company's actual or

------

demonstrably anticipated research or development; or (B) the invention results from any work performed by Grantee for the Company. Grantee likewise shall not be obligated to assign to the Company any Protected Work that is conceived by Grantee after Grantee leaves the employ of the Company, except that Grantee is so obligated if the same relates to or is based on Confidential Information to which Grantee had access by virtue of employment with the Company. Similarly, Grantee shall not be obligated to assign any Protected Work to the Company that was conceived and reduced to practice prior to Grantee's employment with the Company, regardless of whether such Protected Work relates to or would be useful in the business of the Company. Grantee acknowledges and agrees that there are no Protected Works conceived and reduced to practice by Grantee prior to his employment with the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii.&nbsp;&nbsp;&nbsp;&nbsp;Grantee acknowledges and agrees that there is no other contract or duty on the part of Grantee now in existence to assign Protected Works to anyone other than the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii.&nbsp;&nbsp;&nbsp;&nbsp;The Company and Grantee acknowledge that in the course of Grantee's employment with the Company, Grantee may from time to time create for Company copyrightable works. Such works may consist of manuals, pamphlets, instructional materials, computer programs, software, software integration techniques, software codes, and data, technical data, photographs, drawings, logos, designs, artwork, or other copyrightable material, or portions thereof, and may be created within or without the Company's facilities and before, during or after normal business hours. All such works related to or useful in the business of the Company are specifically intended to be works made for hire by Grantee, and Grantee shall cooperate with the Company in the protection of the Company's copyrights in such works and, to the extent deemed desirable by the Company, the registration of such copyrights.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;*Return of Materials*. Grantee agrees to not retain or destroy (except as set forth below), and to immediately return to the Company on or prior to the Termination Date, or at any other time the Company requests such return, any and all property of the Company that is the possession of Grantee or subject to Grantee's control, including, but not limited to, keys, credit and identification cards, personal items or equipment, customer files and information, papers, drawings, notes, manuals, specifications, designs, devices, code, email, documents, diskettes, CDs, tapes, keys, access cards, credit cards, identification cards, computers, mobile devices, other electronic media, all other files and documents relating to the Company and its business (regardless of form, but specifically including all electronic files and data of the Company), together with all Protected Works and Confidential Information belonging to the Company or that Grantee received from or through his employment with the Company. Grantee shall not make, distribute, or retain copies of any such information or property. To the extent that Grantee has electronic files or information in his/her possession or control that belong to the Company, contain Confidential Information, or constitute Protected Works (specifically including but not limited to electronic files or information stored on personal computers, mobile devices, electronic media, or in cloud storage), on or prior to the Termination Date, or at any other time the Company requests, Grantee shall (i) provide the Company with an electronic copy of all of such files or information (in an electronic format that readily accessible by the Company); (ii) after doing so, delete all such files and information, including all copies and derivatives thereof, from all non-the Company-owned computers, mobile devices, electronic media, cloud storage, and other media, devices, and equipment, such that such files and information are permanently deleted and irretrievable; and (iii) provide a written certification to the Company that the required deletions have been completed and specifying the files and information deleted and the media source from which they were deleted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;*Enforcement of Restrictive Covenants.* 

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i.&nbsp;&nbsp;&nbsp;&nbsp;The Company and Grantee specifically acknowledge and agree that the remedy at law for any breach of the Restrictive Covenants shall be inadequate, and that in the event Grantee breaches any of the Restrictive Covenants, the Company shall have the right and remedy, without the necessity of proving actual damage or posting any bond, to enjoin, preliminarily and permanently, Grantee from violating the Restrictive Covenants and to have the Restrictive Covenants specifically enforced by any court of competent jurisdiction, it being agreed that any breach of the Restrictive Covenants would cause irreparable injury to the Company and that money damages would not provide an adequate remedy to the Company. Grantee understands and agrees that if he violates any of the obligations set forth in the Restrictive Covenants, the Restricted Period shall cease to run during the pendency of any litigation over such violation, provided that such litigation was initiated during the Restricted Period. Such rights and remedies shall be in addition to, and not in lieu of, any other rights and remedies available to the Company at law or in equity. The Company and Grantee understand and agree that, if the Company and Grantee become involved in legal action regarding the enforcement of the Restrictive Covenants, the prevailing party or parties in such legal action shall be entitled, in addition to any other remedy, to recover reasonable costs and attorneys' fees incurred in enforcing or defending action with respect to such covenants. The Company's ability to enforce its rights under the Restrictive Covenants or applicable law against Grantee shall not be impaired in any way by the existence of a claim or cause of action on the part of Grantee based on, or arising out of, this Award Agreement or any other event or transaction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii.&nbsp;&nbsp;&nbsp;&nbsp;Grantee acknowledges and agrees that each of the Restrictive Covenants is reasonable and valid in time and scope and in all other respects. The Company and Grantee agree that it is their intention that the Restrictive Covenants be enforced in accordance with their terms to the maximum extent permitted by law. Each of the Restrictive Covenants shall be considered and construed as a separate and independent covenant. Should any part or provision of any of the Restrictive Covenants, or any other provision of this Section 16, be held invalid, void, or unenforceable, such invalidity, voidness, or unenforceability shall not render invalid, void, or unenforceable any other part or provision of this Award Agreement or such Restrictive Covenant. If any of the provisions of the Restrictive Covenants should ever be held by a court of competent jurisdiction to exceed the scope permitted by the applicable law, such provision or provisions shall be automatically modified to such lesser scope as such court may deem just and proper for the reasonable protection of the Company's legitimate business interests and may be enforced by the Company to that extent in the manner described above and all other provisions of this Award Agreement shall be valid and enforceable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)&nbsp;&nbsp;&nbsp;&nbsp;*Defined Terms*. For purposes of this Award Agreement, "*Company*" shall be deemed to include the Company and FirstBank, the Company's wholly-owned bank subsidiary. In addition, and notwithstanding any contrary definition in the Plan, for purposes of this Award Agreement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Competitive Services</u>" means engaging in the business of commercial and mortgage banking, including, without limitation, originating, underwriting, closing and selling loans, receiving deposits and otherwise engaging in the business of banking, as well as the business of providing any other activities, products, or services of the type conducted, authorized, offered, or provided by the Company as of or during the two years immediately prior to the Termination Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Confidential Information</u>" means any and all data and information relating to the Company, its activities, business, or clients that (i) is disclosed to Grantee or of which Grantee becomes aware because of Grantee's employment with the Company; (ii) has value to the Company; and (iii) is not generally known outside of the Company. "Confidential Information" shall include, but is not limited to the following types of information regarding, related to, or concerning the Company: trade secrets (as

------

defined by Tennessee Uniform Trade Secrets Act); financial plans and data; management planning information; business plans; operational methods; market studies; marketing plans or strategies; pricing information; product development techniques or plans; customer lists; customer files, data and financial information; details of customer contracts; current and anticipated customer requirements; identifying and other information pertaining to business referral sources; past, current and planned research and development; computer aided systems, software, strategies and programs; business acquisition plans; management organization and related information (including, without limitation, data and other information concerning the compensation and benefits paid to officers, directors, employees and management); personnel and compensation policies; new personnel acquisition plans; and other similar information. "Confidential Information" also includes combinations of information or materials which individually may be generally known outside of the Company, but for which the nature, method, or procedure for combining such information or materials is not generally known outside of the Company. In addition to data and information relating to the Company, "Confidential Information" also includes any and all data and information relating to or concerning a third party that otherwise meets the definition set forth above, that was provided or made available to the Company by such third party, and that the Company has a duty or obligation to keep confidential. This definition shall not limit any definition of "confidential information" or any equivalent term under state or federal law. "Confidential Information" shall not include information that has become generally available to the public by the act of one who has the right to disclose such information without violating any right or privilege of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Material Contact</u>" means contact between Grantee and a customer or potential customer of Company (i) with whom or which Grantee has or had dealings on behalf of Company; (ii) whose dealings with Company are or were coordinated or supervised by Grantee; (iii) about whom Grantee obtains Confidential Information in the ordinary course of business as a result of Grantee's employment with the Company; or (iv) who receives products or services of Company, the sale or provision of which results or resulted in compensation, commissions, or earnings for Grantee within the two years prior to Grantee's Termination Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iv.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Person</u>" means any individual or any corporation, partnership, joint venture, limited liability company, association, or other entity or enterprise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;v.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Principal or Representative</u>" means a principal, owner, partner, shareholder, joint venturer, investor, member, trustee, director, officer, manager, employee, agent, representative, or consultant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;vi.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Protected Customer</u>" means any Person to whom Company has sold its products or services or actively solicited to sell its products or services, and with whom Grantee has had Material Contact during his employment with the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;vii.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Protected Work</u>" means any and all ideas, inventions, formulas, Confidential Information, source codes, object codes, techniques, processes, concepts, systems, programs, software, software integration techniques, hardware systems, schematics, flow charts, computer data bases, client lists, trademarks, service marks, brand names, trade names, compilations, documents, data, notes, designs, drawings, technical data and/or training materials, including improvements thereto or derivatives therefrom, whether or not patentable, and whether or not subject to copyright or trademark or trade secret protection, conceived, developed or produced by Grantee, or by others working with Grantee or under the direction of Grantee, during the period of Grantee's employment, or conceived, produced or used or intended for use by or on behalf of the Company or its customers.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;viii.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Restricted Period</u>" means 12 months following the Termination Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;x.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Restrictive Covenants</u>" means the restrictive covenants contained in Section 16(a) through 16(e) hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;xi.&nbsp;&nbsp;&nbsp;&nbsp;"<u>Termination Date</u>" means the date of termination of Grantee's Continuous Service.

17.&nbsp;&nbsp;&nbsp;&nbsp;<u>Applicable Law; Forum Selection; Consent to Jurisdiction</u>. The Company and Grantee agree that this Award Agreement shall be governed by and construed and interpreted in accordance with the laws of the State of Tennessee without giving effect to its conflicts of law principles. Executive agrees that the exclusive forum for any action to enforce this Agreement, as well as any action relating to or arising out of this Agreement, shall be the Chancery Court of Davidson County, Tennessee. With respect to any such court action, Grantee hereby irrevocably submits to the personal jurisdiction of such courts. The parties hereto further agree that the courts listed above are convenient forums for any dispute that may arise herefrom and that neither party shall raise as a defense that such courts are not convenient forums.

18. &nbsp;&nbsp;&nbsp;&nbsp;<u>Survival</u>. Unless otherwise provided herein, the provisions of Section 10, 11, 12, 13, 16, 17 and 18 hereof shall survive the termination of Grantee's Continuous Service or termination of the Units or this Award Agreement and shall cease to survive upon the end of the Restricted Period.

## Exhibit 10.2

**Exhibit 10.2**

***2026 PSU Agreement***

**PERFORMANCE-BASED RESTRICTED STOCK UNIT** 

**AWARD AGREEMENT**

*Non-transferable*

GRANT TO

___________________________

("<u>Grantee</u>")

by FB Financial Corporation (the "<u>Company</u>") of

________ restricted stock units convertible, on a one-for-one basis, into shares of Stock (the "<u>Units</u>").

The Units are granted pursuant to and subject to the provisions of the FB Financial Corporation 2016 Incentive Plan (the "<u>Plan</u>") and to the terms and conditions set forth on the following pages (the "<u>Terms and Conditions</u>"). By accepting the Units and signing below, Grantee shall be deemed to have agreed to the Terms and Conditions set forth in this Award Agreement and the Plan. Capitalized terms used herein and not otherwise defined shall have the meanings assigned to such terms in the Plan.

The target number of Units subject to this award is _____ (the "<u>Target Award</u>").

&nbsp;&nbsp;&nbsp;&nbsp;

IN WITNESS WHEREOF, FB Financial Corporation, acting by and through its duly authorized officers, has caused this Award Agreement to be duly executed.

---

| | |
|:---|:---|
| FB FINANCIAL CORPORATION<br>By: Christopher T. Holmes<br>Its: President & CEO | GRANTEE<br>____________________________<br>[NAME] |
| Grant Date: [date] |  |

---

------

TERMS AND CONDITIONS

1.&nbsp;&nbsp;&nbsp;&nbsp;<u>Defined Terms</u>. Capitalized terms used herein and not otherwise defined shall have the meanings assigned to such terms in the Plan. For purposes of this Award Agreement, "Company" shall be deemed to include the Company and FirstBank, the Company's wholly-owned bank subsidiary. In addition, and notwithstanding any contrary definition in the Plan, for purposes of this Award Agreement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)"<u>CIC Qualifying Termination</u>" means Grantee's termination of Continuous Service without Cause or Grantee's resignation for Good Reason, in each case within two years following a Change in Control.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)"<u>Comparator Group</u>" shall be defined on <u>Exhibit A</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)"<u>Competitive Services</u>" means engaging in the business of commercial and mortgage banking, including, without limitation, originating, underwriting, closing and selling loans, receiving deposits and otherwise engaging in the business of banking, as well as the business of providing any other activities, products, or services of the type conducted, authorized, offered, or provided by the Company as of or during the two years immediately prior to the Termination Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)"<u>Confidential Information</u>" means any and all data and information relating to the Company, its activities, business, or clients that (i) is disclosed to Grantee or of which Grantee becomes aware because of Grantee's employment with the Company; (ii) has value to the Company; and (iii) is not generally known outside of the Company. "Confidential Information" shall include, but is not limited to the following types of information regarding, related to, or concerning the Company: trade secrets (as defined by Tennessee Uniform Trade Secrets Act); financial plans and data; management planning information; business plans; operational methods; market studies; marketing plans or strategies; pricing information; product development techniques or plans; customer lists; customer files, data and financial information; details of customer contracts; current and anticipated customer requirements; identifying and other information pertaining to business referral sources; past, current and planned research and development; computer aided systems, software, strategies and programs; business acquisition plans; management organization and related information (including, without limitation, data and other information concerning the compensation and benefits paid to officers, directors, employees and management); personnel and compensation policies; new personnel acquisition plans; and other similar information. "Confidential Information" also includes combinations of information or materials which individually may be generally known outside of the Company, but for which the nature, method, or procedure for combining such information or materials is

------

not generally known outside of the Company. In addition to data and information relating to the Company, "Confidential Information" also includes any and all data and information relating to or concerning a third party that otherwise meets the definition set forth above, that was provided or made available to the Company by such third party, and that the Company has a duty or obligation to keep confidential. This definition shall not limit any definition of "confidential information" or any equivalent term under state or federal law. "Confidential Information" shall not include information that has become generally available to the public by the act of one who has the right to disclose such information without violating any right or privilege of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)"<u>Determination Date</u>" means the date of the Committee's determination of the Performance Factors, the Performance Multiplier and approval of the Earned Award, which shall be any date between January 1 and March 15 of the year immediately following the year in which the Performance Period concludes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)"<u>Earned Award</u>" shall be defined on <u>Exhibit A</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)"<u>Material Contact</u>" means contact between Grantee and a customer or potential customer of Company (i) with whom or which Grantee has or had dealings on behalf of Company; (ii) whose dealings with Company are or were coordinated or supervised by Grantee; (iii) about whom Grantee obtains Confidential Information in the ordinary course of business as a result of Grantee's employment with the Company; or (iv) who receives products or services of Company, the sale or provision of which results or resulted in compensation, commissions, or earnings for Grantee within the two years prior to Grantee's Termination Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)"<u>Performance Factor</u>" means the percentage, from 0% to 200%, based on the Company's level of achievement of the Performance Objective(s), as more fully described in <u>Exhibit A</u> hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)"<u>Performance Objective(s)</u>" shall be defined on <u>Exhibit A</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j)"<u>Performance Period</u>" shall be defined on <u>Exhibit A</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k)"<u>Person</u>" means any individual or any corporation, partnership, joint venture, limited liability company, association, or other entity or enterprise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l)"<u>Principal or Representative</u>" means a principal, owner, partner, shareholder, joint venturer, investor, member, trustee, director, officer, manager, employee, agent, representative, or consultant.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m)"<u>Protected Customer</u>" means any Person to whom Company has sold its products or services or actively solicited to sell its products or services, and with whom Grantee has had Material Contact during his employment with the Company.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(n)"<u>Protected Work</u>" means any and all ideas, inventions, formulas, Confidential Information, source codes, object codes, techniques, processes, concepts, systems, programs, software, software integration techniques, hardware systems, schematics, flow charts, computer data bases, client lists, trademarks, service marks, brand names, trade names, compilations, documents, data, notes, designs, drawings, technical data and/or training materials, including improvements thereto or derivatives therefrom, whether or not patentable, and whether or not subject to copyright or trademark or trade secret protection, conceived, developed or produced by Grantee, or by others working with Grantee or under the direction of Grantee, during the period of Grantee's employment, or conceived, produced or used or intended for use by or on behalf of the Company or its customers.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(o)"<u>Qualifying Termination</u>" means Grantee's termination of Continuous Service by reason of Grantee's (i) death, (ii) Disability, (iii) termination without Cause, or (iv) resignation for Good Reason.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(p)"<u>Restricted Period</u>" means a period of 12 months following the Termination Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(q)"<u>Restrictive Covenants</u>" means the restrictive covenants contained in Section 17(a) through 17(e) hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(r)"<u>Retirement</u>" means, for purposes of Award Agreement, Grantee's voluntary termination of Continuous Service, other than a termination for Cause, after Grantee has attained (i) age 65, or (ii) age 60 with at least 10 years of service.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(s)"<u>Target Award</u>" means the number of Units granted pursuant to this Award Agreement, as indicated on the cover page hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(t)"<u>Termination Date</u>" means the date of termination of Grantee's Continuous Service.

2.&nbsp;&nbsp;&nbsp;&nbsp;<u>Vesting</u>. The Units have been credited to a bookkeeping account on behalf of Grantee. The Units shall be earned in whole, in part, or not at all, as provided on <u>Exhibit A</u> attached hereto and as determined by the Committee on the Determination Date. Any Units that fail to vest in accordance with the terms of this Award Agreement shall be forfeited and reconveyed to the Company without further consideration or any act or action by Grantee.

3.&nbsp;&nbsp;&nbsp;&nbsp;<u>Conversion to Stock</u>. The Earned Award shall be converted to shares of Stock on the Determination Date, provided Grantee remains in Continuous Service through the last day of the Performance Period. The shares of Stock shall be registered in the name of Grantee as of the Determination Date, and certificates for the shares of Stock (or, at the option of the Company, statements of book entry notation of the shares of Stock in the name of Grantee in lieu thereof) shall be delivered to Grantee or Grantee's designee upon request of Grantee as soon as practicable after the Determination Date, but no later than 60 days following the Determination Date.

------

4.&nbsp;&nbsp;&nbsp;&nbsp;<u>Termination of Employment; Change in Control</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)If Grantee's Continuous Service terminates for any reason prior to the Determination Date other than as provided herein, then Grantee shall forfeit Grantee's outstanding Units as of the date of such termination without further consideration or any act or action by Grantee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)If Grantee's Continuous Service is terminated for Cause at any time prior to the Determination Date, then Grantee shall forfeit Grantee's outstanding Units without further consideration or any act or action by Grantee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)If Grantee has a Qualifying Termination prior to the last day of the Performance Period, then, as of the date of such Qualifying Termination, then the Units shall remain outstanding and shall be earned, in whole, in part, or not at all, as provided on <u>Exhibit A</u> attached hereto and as determined by the Committee on the Determination Date, and the Earned Award shall be prorated by multiplying the Earned Award by a fraction, the numerator of which shall be the number of months elapsed in the Performance Period prior to Grantee's Qualifying Termination, and the denominator shall be 36.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)If Grantee's Continuous Service is terminated as a result of Grantee's Retirement prior to the last day of the Performance Period, then the Units shall remain outstanding and shall be earned, in whole, in part, or not at all, as provided on <u>Exhibit A</u> attached hereto and as determined by the Committee on the Determination Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)If there is a Change in Control prior to the last day of the Performance Period, and the Units are not assumed by the surviving entity or otherwise equitably converted or substituted in connection with the Change in Control in a manner approved by the Committee or the Board, then, as of the date of the Change in Control, the Units shall vest at the greater of (1) the Target Award, or (2) the number of Units that would vest based on actual performance achievement for the Performance Metric(s), as provided on <u>Exhibit A</u> attached hereto and as determined by the Committee, but measured as of the Change in Control, and convert to shares of Stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)If there is a Change in Control prior to the last day of the Performance Period, and the Units are assumed by the surviving entity or otherwise equitably converted or substituted in connection with a Change in Control in a manner approved by the Committee or the Board, then, as of the date of a CIC Qualifying Termination, the Units shall vest at the greater of (1) the Target Award or (2) the number of Units that would vest based on actual performance achievement for the Performance Metric(s), as provided on <u>Exhibit A</u> attached hereto and as determined by the Committee, but measured as of the date of the CIC Qualifying Termination, and convert to shares of Stock.

5.&nbsp;&nbsp;&nbsp;&nbsp;<u>Dividend Rights; Voting Rights</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)If any dividends or other distributions are paid with respect to the Stock while the Units are outstanding, the dollar amount or fair market value of such dividends or distributions

------

with respect to the number of shares of Stock then underlying the target number of Units (i.e., the Target Award) shall be credited to a bookkeeping account and held (without interest) by the Company for the account of Grantee. Such amounts shall be subject to the same vesting and forfeiture provisions as the Units to which they relate. At the end of the Performance Period, the number of dividend equivalents credited to Grantee's account shall be adjusted to reflect the attainment of the Performance Objective(s) in the same manner as the Target Award and, except as may be otherwise determined by the Committee, shall be paid by the Company in the form of a cash payment to Grantee as soon as reasonably practicable following the Determination Date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)Grantee shall not have voting rights with respect to the Units. Upon conversion of the Units into shares of Stock, Grantee shall obtain full voting rights and other rights as a shareholder of the Company.

6.&nbsp;&nbsp;&nbsp;&nbsp;<u>No Right of Continued Service</u>. Nothing in this Award Agreement shall interfere with or limit in any way the right of the Company to terminate Grantee's service at any time, nor confer upon Grantee any right to continue to provide services to the Company.

7.&nbsp;&nbsp;&nbsp;&nbsp;<u>Restrictions on Transfer and Pledge</u>. No right or interest of Grantee in the Units may be pledged, encumbered, or hypothecated to or in favor of any party, or shall be subject to any lien, obligation, or liability of Grantee to any other party. The Units are not assignable or transferable by Grantee other than by shall or the laws of descent and distribution.

8.&nbsp;&nbsp;&nbsp;&nbsp;<u>Restrictions on Issuance of Shares</u>. If at any time the Committee shall determine, in its discretion, that registration, listing or qualification of the Shares underlying the Units upon any Exchange or under any foreign, federal, or local law or practice, or the consent or approval of any governmental regulatory body, is necessary or desirable as a condition to the settlement of the Units, the Units shall not be converted to Shares in whole or in part unless and until such registration, listing, qualification, consent or approval shall have been effected or obtained free of any conditions not acceptable to the Committee.

9.&nbsp;&nbsp;&nbsp;&nbsp;<u>Payment of Taxes</u>. The Company has the authority and the right to deduct or withhold, or require Grantee to remit to the employer, an amount sufficient to satisfy federal, state, and local taxes (including Grantee's FICA obligation) required by law to be withheld with respect to any taxable event arising in connection with the Units. The withholding requirement shall be satisfied by withholding from the settlement of the Units Shares having a Fair Market Value on the date of withholding equal to the minimum amount required to be withheld for tax purposes.

10.&nbsp;&nbsp;&nbsp;&nbsp;<u>Plan Controls; Employment Agreement</u>. The terms contained in the Plan are incorporated into and made a part of this Award Agreement, and this Award Agreement shall be governed by and construed in accordance with the Plan. In the event of any actual or alleged conflict between the provisions of the Plan and the provisions of this Award Agreement, the provisions of the Plan shall be controlling and determinative. Any conflict between this Award Agreement and the terms of a written employment or change-in-control agreement with Grantee that has been approved by the Committee shall be decided in favor of the provisions of such employment or change-in-control agreement.

------

11.&nbsp;&nbsp;&nbsp;&nbsp;<u>Successors</u>. This Award Agreement shall be binding upon any successor of the Company, in accordance with the terms of this Award Agreement and the Plan.

12. &nbsp;&nbsp;&nbsp;&nbsp;<u>Severability</u>. If any provision or portion of this Award Agreement shall be or become illegal, invalid or unenforceable in whole or in part for any reason, such provision shall be ineffective only to the extent of such illegality, invalidity or unenforceability without invalidating the remainder of such provision or the remaining provisions of this Award Agreement. Upon such determination that any term or other provision is illegal, invalid, or incapable of being enforced, the parties hereto shall negotiate in good faith to modify this Award Agreement so as to effect the original intent of the parties as closely as possible in an acceptable manner to the end that the agreements contemplated hereby are fulfilled to the extent possible.

13. &nbsp;&nbsp;&nbsp;&nbsp;<u>Non-Waiver of Rights and Breaches</u>. No failure or delay of any party hereto in the exercise of any right given to such party hereunder shall constitute a waiver thereof unless the time specified herein for the exercise of such right has expired, nor shall any single or partial exercise of any right preclude other or further exercise thereof or of any other right. The waiver of a party hereto of any default of any other party shall not be deemed to be a waiver of any subsequent default or other default by such party, whether similar or dissimilar in nature.

14. &nbsp;&nbsp;&nbsp;&nbsp;<u>Interpretation</u>. The headings contained in this Award Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Award Agreement. The language in all parts of this Award Agreement shall in all cases be construed according to its fair meaning, and not strictly for or against any party hereto. In this Award Agreement, unless the context otherwise requires, the masculine, feminine and neuter genders and the singular and the plural include one another.

15.&nbsp;&nbsp;&nbsp;&nbsp;<u>Notice</u>. Notices hereunder must be in writing, delivered personally or sent by registered or certified U.S. mail, return receipt requested, postage prepaid. Notices to the Company must be addressed to FB Financial Corporation, 1221 Broadway, Suite 1300, Nashville, TN 37203; Attn: Corporate Secretary, or any other address designated by the Company in a written notice to Grantee. Notices to Grantee shall be directed to the address of Grantee then currently on file with the Company, or at any other address given by Grantee in a written notice to the Company.

16.&nbsp;&nbsp;&nbsp;&nbsp;<u>Clawback</u>. Grantee agrees that the Units shall be subject to the Company's Compensation Recovery Policy as applicable, and any other compensation recoupment policy of the Company that is applicable by its terms to Grantee and to awards of this type and that any amendments to such clawback policy deemed necessary by the Committee in its sole discretion to comply with applicable law or listing requirements shall be applicable to Grantee. Without limiting the foregoing, in the event of Grantee's breach of any provision of Section 17 hereof, (i) any unvested portion of the Units shall immediately be forfeited, and (ii) upon the Company's written request, Grantee shall immediately reconvey to the Company any Shares received from settlement of the Units or, if Grantee previously disposed of any such Shares, the equivalent value of such disposed shares determined by the Fair Market Value per Share as of the date of the Company's request for repayment. In such event, the Company shall not be responsible to

------

compensate Grantee for any taxes previously incurred or paid by Grantee upon the vesting of the Units. The Company's remedy of recoupment set forth in this Section 16 shall not be exclusive of any other remedies the Company may have, in law or in equity, for Grantee's breach of any provision of Section 17 hereof or otherwise. The Company reserves all other rights and remedies available to it at law or in equity.

17.&nbsp;&nbsp;&nbsp;&nbsp;<u>Restrictive Covenants</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;*Restriction on Disclosure and Use of Confidential Information*. Grantee agrees that Grantee shall not, directly or indirectly, use any Confidential Information on Grantee's own behalf or on behalf of any Person other than the Company, or reveal, divulge, or disclose any Confidential Information to any Person not expressly authorized by the Company to receive such Confidential Information. This obligation shall remain in effect for as long as the information or materials in question retain their status as Confidential Information. Grantee further agrees to fully cooperate with the Company in maintaining the Confidential Information to the extent permitted by law. The Company and Grantee acknowledge and agree that this Award Agreement is not intended to, and does not, alter either the Company's rights or Grantee's obligations under any state or federal statutory or common law regarding trade secrets and unfair trade practices. Anything herein to the contrary notwithstanding, Grantee shall not be restricted from disclosing information that is required to be disclosed by law, court order, or other valid and appropriate legal process; *provided*, *however*, that in the event such disclosure is required by law, Grantee shall provide the Company with prompt notice of such requirement so that the Company may seek an appropriate protective order prior to any such required disclosure by Grantee. Grantee understands and acknowledges that nothing in this section limits Grantee's ability to report possible violations of federal, state, or local law or regulation to any governmental agency or entity; to communicate with any government agencies or otherwise participate in any investigation or proceeding that may be conducted by any government agencies in connection with any charge or complaint, whether filed by Grantee, on Grantee's behalf, or by any other individual; or to make other disclosures that are protected under the whistleblower provisions of federal, state, or local law or regulation, and Grantee shall not need the prior authorization of the Company to make any such reports or disclosures and shall not be required to notify the Company that Grantee has made such reports or disclosures. In addition, and anything herein to the contrary notwithstanding, Grantee is hereby given notice that Grantee shall not be criminally or civilly liable under any federal or state trade secret law for disclosing a trade secret (as defined by 18 U.S.C. § 1839) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney, in either event solely for the purpose of reporting or investigating a suspected violation of law; or disclosing a trade secret (as defined by 18 U.S.C. § 1839) in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;*Non-Solicitation of Protected Customers*. Grantee agrees that, during the Restricted Period, Grantee shall not, without the prior written consent of the Company, directly or indirectly, on Grantee's own behalf or as a Principal or Representative of any Person, solicit, divert, take away, or attempt to solicit, divert, or take away a Protected Customer for the purpose of engaging in, providing, or selling Competitive Services.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;*Non-Recruitment of Employees and Independent Contractors.* Grantee agrees that during the Restricted Period, Grantee shall not, without the prior written consent of the Company, directly or indirectly, whether on Grantee's own behalf or as a Principal or Representative of any Person, solicit or induce or attempt to solicit or induce any employee or independent contractor of the Company to terminate an employment or other relationship with the Company or to enter into employment or any other kind of business relationship with Grantee or any other Person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;*Proprietary Rights*.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i.&nbsp;&nbsp;&nbsp;&nbsp;Grantee agrees that any and all Confidential Information and Protected Works are the sole property of the Company, and that no compensation in addition to Grantee's compensation hereunder is due to Grantee for development or transfer of such Protected Works. Grantee agrees that Grantee shall promptly disclose in writing to the Company the existence of any Protected Works. Grantee hereby assigns and agrees to assign all of Grantee's rights, title, and interest in any and all Protected Works, including all patents or patent applications, and all copyrights therein, to the Company. Grantee shall not be entitled to use Protected Works for Grantee's own benefit or the benefit of anyone except the Company without written permission from the Company and then only subject to the terms of such permission. Grantee further agrees that Grantee shall communicate to the Company any facts known to Grantee and testify in any legal proceedings, sign all lawful papers, make all rightful oaths, execute all divisionals, continuations, continuations-in-part, foreign counterparts, or reissue applications, all assignments, all registration applications, and all other instruments or papers to carry into full force and effect the assignment, transfer, and conveyance hereby made or to be made and generally do everything possible for title to the Protected Works and all patents or copyrights or trademarks or service marks therein to be clearly and exclusively held by the Company. Grantee agrees that Grantee shall not oppose or object in any way to applications for registration of Protected Works by the Company or others designated by the Company. Grantee agrees to exercise reasonable care to avoid making Protected Works available to any third party and shall be liable to Company for all damages and expenses, including reasonable attorneys' fees, if Protected Works are made available to third parties by Grantee without the express written consent of the Company.

Anything herein to the contrary notwithstanding, Grantee shall not be obligated to assign to the Company any Protected Work for which no equipment, supplies, facilities, or Confidential Information of the Company was used and which was developed entirely on Grantee's own time, unless (A) the invention relates (1) directly to the business of the Company, or (2) to the Company's actual or demonstrably anticipated research or development; or (B) the invention results from any work performed by Grantee for the Company. Grantee likewise shall not be obligated to assign to the Company any Protected Work that is conceived by Grantee after Grantee leaves the employ of the Company, except that Grantee is so obligated if the same relates to or is based on Confidential Information to which Grantee had access by virtue of employment with the Company. Similarly, Grantee shall not be obligated to assign any Protected Work to the Company that was conceived and reduced to practice prior to Grantee's employment

------

with the Company, regardless of whether such Protected Work relates to or would be useful in the business of the Company. Grantee acknowledges and agrees that there are no Protected Works conceived and reduced to practice by Grantee prior to his employment with the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii.&nbsp;&nbsp;&nbsp;&nbsp;Grantee acknowledges and agrees that there is no other contract or duty on the part of Grantee now in existence to assign Protected Works to anyone other than the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii.&nbsp;&nbsp;&nbsp;&nbsp;The Company and Grantee acknowledge that in the course of Grantee's employment with the Company, Grantee may from time to time create for Company copyrightable works. Such works may consist of manuals, pamphlets, instructional materials, computer programs, software, software integration techniques, software codes, and data, technical data, photographs, drawings, logos, designs, artwork, or other copyrightable material, or portions thereof, and may be created within or without the Company's facilities and before, during or after normal business hours. All such works related to or useful in the business of the Company are specifically intended to be works made for hire by Grantee, and Grantee shall cooperate with the Company in the protection of the Company's copyrights in such works and, to the extent deemed desirable by the Company, the registration of such copyrights.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;*Return of Materials*. Grantee agrees to not retain or destroy (except as set forth below), and to immediately return to the Company on or prior to the Termination Date, or at any other time the Company requests such return, any and all property of the Company that is the possession of Grantee or subject to Grantee's control, including, but not limited to, keys, credit and identification cards, personal items or equipment, customer files and information, papers, drawings, notes, manuals, specifications, designs, devices, code, email, documents, diskettes, CDs, tapes, keys, access cards, credit cards, identification cards, computers, mobile devices, other electronic media, all other files and documents relating to the Company and its business (regardless of form, but specifically including all electronic files and data of the Company), together with all Protected Works and Confidential Information belonging to the Company or that Grantee received from or through his employment with the Company. Grantee shall not make, distribute, or retain copies of any such information or property. To the extent that Grantee has electronic files or information in his/her possession or control that belong to the Company, contain Confidential Information, or constitute Protected Works (specifically including but not limited to electronic files or information stored on personal computers, mobile devices, electronic media, or in cloud storage), on or prior to the Termination Date, or at any other time the Company requests, Grantee shall (i) provide the Company with an electronic copy of all of such files or information (in an electronic format that readily accessible by the Company); (ii) after doing so, delete all such files and information, including all copies and derivatives thereof, from all non-the Company-owned computers, mobile devices, electronic media, cloud storage, and other media, devices, and equipment, such that such files and information are permanently deleted and irretrievable; and (iii) provide a written certification to the Company that the required deletions have been completed and specifying the files and information deleted and the media source from which they were deleted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)&nbsp;&nbsp;&nbsp;&nbsp;*Enforcement of Restrictive Covenants*.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i.&nbsp;&nbsp;&nbsp;&nbsp;The Company and Grantee specifically acknowledge and agree that the remedy at law for any breach of the Restrictive Covenants shall be inadequate, and that in the event Grantee breaches any of the Restrictive Covenants, the Company shall have the right and remedy, without the necessity of proving actual damage or posting any bond, to enjoin, preliminarily and permanently, Grantee from violating the Restrictive Covenants and to have the Restrictive Covenants specifically enforced by any court of competent jurisdiction, it being agreed that any breach of the Restrictive Covenants would cause irreparable injury to the Company and that money damages would not provide an adequate remedy to the Company. Grantee understands and agrees that if he violates any of the obligations set forth in the Restrictive Covenants, the Restricted Period shall cease to run during the pendency of any litigation over such violation, provided that such litigation was initiated during the Restricted Period. Such rights and remedies shall be in addition to, and not in lieu of, any other rights and remedies available to the Company at law or in equity. The Company and Grantee understand and agree that, if the Company and Grantee become involved in legal action regarding the enforcement of the Restrictive Covenants, the prevailing party or parties in such legal action shall be entitled, in addition to any other remedy, to recover reasonable costs and attorneys' fees incurred in enforcing or defending action with respect to such covenants. The Company's ability to enforce its rights under the Restrictive Covenants or applicable law against Grantee shall not be impaired in any way by the existence of a claim or cause of action on the part of Grantee based on, or arising out of, this Award Agreement or any other event or transaction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii.&nbsp;&nbsp;&nbsp;&nbsp;Grantee acknowledges and agrees that each of the Restrictive Covenants is reasonable and valid in time and scope and in all other respects. The Company and Grantee agree that it is their intention that the Restrictive Covenants be enforced in accordance with their terms to the maximum extent permitted by law. Each of the Restrictive Covenants shall be considered and construed as a separate and independent covenant. Should any part or provision of any of the Restrictive Covenants, or any other provision of this Section 17, be held invalid, void, or unenforceable, such invalidity, voidness, or unenforceability shall not render invalid, void, or unenforceable any other part or provision of this Award Agreement or such Restrictive Covenant. If any of the provisions of the Restrictive Covenants should ever be held by a court of competent jurisdiction to exceed the scope permitted by the applicable law, such provision or provisions shall be automatically modified to such lesser scope as such court may deem just and proper for the reasonable protection of the Company's legitimate business interests and may be enforced by the Company to that extent in the manner described above and all other provisions of this Award Agreement shall be valid and enforceable.

18.&nbsp;&nbsp;&nbsp;&nbsp;<u>Applicable Law; Forum Selection; Consent to Jurisdiction. T</u>he Company and Grantee agree that this Award Agreement shall be governed by and construed and interpreted in accordance with the laws of the State of Tennessee without giving effect to its conflicts of law principles. Executive agrees that the exclusive forum for any action to enforce this Agreement, as well as any action relating to or arising out of this Agreement, shall be the Chancery Court of Davidson County, Tennessee. With respect to any such court action, Grantee hereby irrevocably submits to the personal jurisdiction of such courts. The parties hereto further agree that the courts

------

listed above are convenient forums for any dispute that may arise herefrom and that neither party shall raise as a defense that such courts are not convenient forums.

19. &nbsp;&nbsp;&nbsp;&nbsp;<u>Survival</u>. Unless otherwise provided herein, the provisions of Section 11, 12, 13, 14, 17, 18 and 19 hereof shall survive the termination of Grantee's Continuous Service or termination of the Units or this Award Agreement and shall cease to survive upon the end of the Restricted Period.

------

<u>Exhibit A</u>

The Units will be earned, in whole, in part or not at all, based on Grantee's Continuous Service through the Determination Date, except as otherwise provided by this Award Agreement, and the Company's Adjusted Tangible Book Value ("<u>TBV</u>") and Company's Relative Average Normalized Adjusted Return on Average Tangible Common Equity ("<u>ROATCE</u>") (each weighted at 50% of the Target Award), as determined in accordance with this <u>Exhibit A</u>.

I.<u>Defined Terms</u>. For purposes of this Award Agreement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)"<u>Adjusted Tangible Book Value</u>" means Company's cumulative tangible book value per share over the Performance Period, to include the value of dividends paid per share, excluding the impact of share repurchase on the TBV per share, and the TBV impact of changes in Accumulated Other Comprehensive Income ("<u>AOCI</u>"), and further adjusted regarding any provision expense related to the establishment of allowance for credit losses on a portfolio of acquired loans and leases.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)"<u>Average Normalized Adjusted ROATCE</u>", which is a company's core net income divided by the normalized tangible common equity of the comparator group population. Normalized tangible common equity represents the average of the ratio of tangible common equity to tangible assets for the entire comparator group applied to each of the comparator institutions. Core net income and normalized tangible common equity for each member of the comparator group population will be calculated using the published results per S&P Global Markets, or some equivalent third-party data provider, for both the Company and each member of the Comparator Group, further adjusted so that any provision expense related to the establishment of allowance for credit losses on a portfolio of acquired loans and leases shall be added back to core net income, both for the Company and to the extent possible based on public filings, for each member of the Comparator Group.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)"<u>Comparator Group</u>" shall include the companies set forth on *Attachment I* (each, a "<u>Peer Company</u>").

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)"<u>Earned Award</u>" shall have the meaning set forth in Section V of this <u>Exhibit A</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)"<u>Performance Multiplier</u>" shall mean the sum of the resulting Performance Factor for each Performance Objective.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f)"<u>Performance Objective(s)</u>" means Adjusted Tangible Book Value and Relative Average Normalized Adjusted ROATCE.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g)"<u>Performance Period</u>" means January 1, 2026 – December 31, 2028.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h)"<u>Relative Average Normalized Adjusted ROATCE</u> " means Company Average Normalized Adjusted ROATCE compared to Comparator Group Average Normalized Adjusted ROATCE .

------

II.<u>Performance Matrices</u>.

---

| | | |
|:---|:---|:---|
| **Adjusted Tangible Book Value**<br>**(50% Weighting)** | **Adjusted Tangible Book Value**<br>**(50% Weighting)** | **Adjusted Tangible Book Value**<br>**(50% Weighting)** |
| **Degree of Performance Attainment** | **Adjusted Tangible Book Value**<sup>(1)</sup> | **Performance** <br>**Factor** |
| Maximum | ≥ $44.82 | 200% |
| Target | $42.46 | 100% |
| Threshold | $40.18 | 25% |
| Less than Threshold | < $40.18 | 0% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<sup>(1)</sup>***Payouts between performance levels will be determined based on straight line interpolation.***<br>**Relative <u>Average Normalized Adjusted ROATCE</u>** <br>**(50% Weighting)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<sup>(1)</sup>***Payouts between performance levels will be determined based on straight line interpolation.***<br>**Relative <u>Average Normalized Adjusted ROATCE</u>** <br>**(50% Weighting)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<sup>(1)</sup>***Payouts between performance levels will be determined based on straight line interpolation.***<br>**Relative <u>Average Normalized Adjusted ROATCE</u>** <br>**(50% Weighting)** |
| **Degree of Performance Attainment** | **Relative <u>Average Normalized Adjusted ROATCE</u>** <sup>(1)</sup> | **Performance** <br>**Factor** |
| Maximum | ≥ 75<sup>th</sup> Percentile | 200% |
| Target | ≥ 50<sup>th</sup> Percentile | 100% |
| Threshold | ≥ 25<sup>th</sup> Percentile | 25% |
| Less than Threshold | < 25<sup>th</sup> Percentile | 0% |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<sup>(1)</sup>***Payouts between performance levels will be determined based on straight line interpolation.***

III.<u>Adjustments to Performance Metrics and Goals</u>. The Committee may, in its good faith discretion, adjust the Adjusted Tangible Book Value and/or Average Normalized Adjusted ROATCE for any year in the performance period with respect to the Company or any member of the Comparator Group to eliminate the effects of the following: (a) gains or losses on the sale (or contemplation of a sale) of a business or a business segment, (b) gains or losses on the extinguishment or restructuring of indebtedness, (c) asset or investment impairment charges (other than those related to such company's loan portfolio in the ordinary course of business), (d) restructuring charges, including charges or expenses associated with transactions involving the unwinding of previously entered into interest rate swaps, caps, hedges or other balance sheet derivative transactions, (e) changes in law (including federal and state tax laws) or accounting principles, (f) losses or other expenses associated with other real estate owned, (g) changes in accumulated other comprehensive income, (h) costs or expenses associated with any merger or acquisition affecting such company or any of its subsidiaries, (i) any other expenses or losses resulting from significant, unusual and/or nonrecurring events and (j) events, including those resulting from macro-economic conditions that impact the Company's financial condition or results of operations in a significant manner, either not directly

------

related to the operations of such company or not within the reasonable control of the company's management, in each case if applicable.

IV.<u>Adjustments to Comparator Group</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)In the event of a merger, acquisition or business combination transaction of a Peer Company with or by another Peer Company, the surviving entity shall remain a Peer Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)In the event of a merger of a Peer Company with an entity that is not a Peer Company, or the acquisition or business combination transaction of a Peer Company by an entity that is not a Peer Company, in each case where the Peer Company is the surviving entity and remains publicly traded, the surviving entity shall remain a Peer Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)In the event of a merger or acquisition or business combination transaction of a Peer Company by or with an entity that is not a Peer Company or a "going private" transaction involving a Peer Company where the Peer Company is not the surviving entity or is otherwise no longer publicly traded, the company shall no longer be a Peer Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)In the event of a bankruptcy, liquidation or delisting of a Peer Company at any time during the Performance Period, such company shall remain a Peer Company and the lowest rank shall be assigned such Peer Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)Without limiting the foregoing, the Committee shall have the authority to make other appropriate adjustments in response to a change in circumstances that results in a Peer Company no longer satisfying the criteria for which such company was originally selected, including but not limited to lowering such Peer Company's rank for purposes of determining the Relative Average Normalized Adjusted ROATCE.

V.<u>Determination of Earned Award</u>.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)On the Determination Date, the Committee shall determine and certify the Company's Adjusted Tangible Book Value, Relative Average Normalized Adjusted ROATCE, the resulting Performance Factor for each metric and the Performance Multiplier.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)The number of Units earned (the "<u>Earned Award</u>") shall be determined by multiplying the Target Award by the Performance Multiplier.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)For example, if threshold performance for Adjusted Tangible Book Value was achieved, the Performance Factor would be 25%, and if Target Performance for Relative Average Normalized Adjusted ROATCE was achieved, the Performance Factor would be 100%. In this example, the resulting Performance Multiplier would be 62.5%.

The Earned Award will be converted into shares of Stock as provided in Section of this Award Agreement.

------

*Attachment I* 

Peer Companies

------

---

| |
|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Amerant Bancorp Inc. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Ameris Bancorp |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Atlantic Union Bankshares Corporation |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Bank OZK |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• BankUnited, Inc. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Blue Ridge Bankshares, Inc. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Burke & Herbert Financial Services Corp. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Business First Bancshares, Inc. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• C&F Financial Corporation |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Capital City Bank Group, Inc. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Carter Bankshares, Inc. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Central Bancompany, Inc. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Colony Bankcorp, Inc. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Commerce Bancshares, Inc. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Community Trust Bancorp, Inc. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Enterprise Financial Services Corp |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• First Bancorp |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• First Community Bankshares, Inc. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• First Guaranty Bancshares, Inc. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Great Southern Bancorp, Inc. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Hancock Whitney Corporation |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Home Bancorp, Inc. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Home Bancshares, Inc. (Conway, AR) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• HomeTrust Bancshares, Inc. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Investar Holding Corporation |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Live Oak Bancshares, Inc. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• MetroCity Bankshares, Inc. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Origin Bancorp, Inc. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Primis Financial Corp. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Red River Bancshares, Inc. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Renasant Corporation |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Republic Bancorp, Inc. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Seacoast Banking Corporation of Florida |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• ServisFirst Bancshares, Inc. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Simmons First National Corporation |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• SmartFinancial, Inc. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Southern First Bancshares, Inc. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Southern Missouri Bancorp, Inc. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Stock Yards Bancorp, Inc. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• TowneBank |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Trustmark Corporation |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• United Community Banks, Inc. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• USCB Financial Holdings, Inc. |

---

## Exhibit 31.1

**<u>EXHIBIT 31.1</u>**

**FB FINANCIAL CORPORATION**

**CERTIFICATION PURSUANT TO RULE 13a-14 OR 15d-14 OF THE SECURITIES**

**EXCHANGE ACT OF 1934, AS AMENDED, AS ADOPTED PURSUANT TO**

**SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002**

I, Christopher T. Holmes, certify that:

1. I have reviewed this quarterly report on Form 10-Q of FB Financial Corporation;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp; (d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp; (a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp; (b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

---

| | |
|:---|:---|
| Date: May 4, 2026 | /s/ Christopher T. Holmes |
| | Christopher T. Holmes |
| | President and Chief Executive Officer |
| | (Principal Executive Officer) |

---

## Exhibit 31.2

**<u>EXHIBIT 31.2</u>**

**FB FINANCIAL CORPORATION**

**CERTIFICATION PURSUANT TO RULE 13a-14 OR 15d-14 OF THE SECURITIES**

**EXCHANGE ACT OF 1934, AS AMENDED, AS ADOPTED PURSUANT TO**

**SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002**

I, Michael M. Mettee, certify that:

1. I have reviewed this quarterly report on Form 10-Q of FB Financial Corporation;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

---

| | |
|:---|:---|
| Date: May 4, 2026 | /s/ Michael M. Mettee |
| | Michael M. Mettee |
| | Chief Financial Officer and Chief Operating Officer |
| | (Principal Financial Officer) |

---

## Exhibit 32.1

**<u>EXHIBIT 32.1</u>**

**FB FINANCIAL CORPORATION**

**CERTIFICATION PURSUANT TO**

**18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO**

**SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002**

In connection with the quarterly report on Form 10-Q for the quarter ended March 31, 2026, as filed with the Securities and Exchange Commission on the date hereof (the "Report"), of FB Financial Corporation (the "Company"), each of the undersigned officers of the Company hereby certify, in their capacity as an executive officer of the Company, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that, to the best of their knowledge:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;&nbsp;&nbsp;&nbsp; The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) &nbsp;&nbsp;&nbsp;&nbsp; The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

---

| | |
|:---|:---|
| Date: May 4, 2026 | /s/ Christopher T. Holmes |
|  | Christopher T. Holmes |
|  | President and Chief Executive Officer |
|  | (Principal Executive Officer) |
| Date: May 4, 2026 | /s/ Michael M. Mettee |
|  | Michael M. Mettee |
|  | Chief Financial Officer and Chief Operating Officer |
|  | (Principal Financial Officer) |

---

<br>