FB Financial (FBK) Q3 2026 earnings summary

Executive summary

• Q3 net income was $60.2M, or $60.9M adjusted; diluted EPS was $1.20 reported and $1.21 adjusted. Adjusted return on average tangible common equity was 15.7%.

• Loans held for investment grew 9.68% annualized QoQ; total deposits grew 8.82% and client deposits 11.0% annualized.

• Revenue was $174.486M, broadly stable QoQ and YoY, as loan and deposit growth was offset by mortgage income and deposit-cost pressures.

Financial highlights

• Net interest income was $149.9M GAAP and $150.8M tax-equivalent; total revenue was $174.486M and provision for credit losses was $1.424M.

• Adjusted pre-tax, pre-provision net revenue was $79.446M, versus $83.607M in Q2; adjusted net income of $60.937M included $735K in net adjustments.

• Noninterest income declined $1.3M QoQ, primarily on lower mortgage banking income; higher swap fees and investment services income partly offset the decline.

• Noninterest expense was $96.034M, up from $91.5M in Q2; adjusted expense was $95.3M, including $719K in one-time mortgage transition costs.

Outlook and guidance

• Full-year loan and deposit growth outlook remained in the mid-to-high single digits; growth is expected to moderate in Q4 with normal paydowns, renewals and larger commercial closings.

• Full-year NIM outlook remained 3.7%-3.8% excluding loan accretion; Q4 core margin is expected near Q3 levels, assuming the current forward rate curve.

• Banking segment expense guidance narrowed to $325M-$335M, near the lower end of the prior outlook; disciplined expense management remains a focus.

• Management cited encouraging pipelines and expects robust activity in 2027; higher rates could eventually make some loan deals uneconomic.

• Provision expense is expected to reflect loan growth and changes in individually evaluated credits; net charge-offs are expected within the long-term target range absent material changes in outlook or credit performance.