FB Financial Corporation, the parent company of FirstBank, reported financial results for the third quarter ended September 30, 2026. The company recorded net income of $60.2 million, or $1.20 per diluted common share, compared to $58.6 million in the prior quarter and $23.4 million in the third quarter of 2025. Adjusted net income was reported at $60.9 million, or $1.21 per diluted common share.
On the balance sheet, the company reported loans held for investment (HFI) of $13.18 billion as of September 30, 2026, representing a 9.68% annualized increase from the prior quarter. Total deposits stood at $14.67 billion, an 8.82% annualized increase from the second quarter of 2026. The company noted that annualized client deposit growth was 11.0%, while total deposit growth was 8.82% after netting out a decline in brokered deposits.
Net interest margin (NIM) for the third quarter was 3.83%, a decrease from 3.95% in the prior quarter. The company attributed this decline to higher funding costs relative to earning asset yields. Noninterest income was $24.5 million, while noninterest expense totaled $96.0 million. The efficiency ratio was 55.0%.
Credit quality metrics remained stable. The allowance for credit losses on loans HFI was $194.0 million, or 1.47% of loans. Net charge-offs were $1.2 million, representing an annualized net charge-offs ratio of 0.04% of average loans HFI. Nonperforming loans HFI were 1.18% of total loans HFI.
In terms of capital, the company reported a preliminary total risk-based capital ratio of 13.6% and a preliminary common equity tier 1 ratio of 11.0%. During the quarter, the company repurchased 545,214 shares of common stock and completed a $125.0 million subordinated debt issuance at a spread of 180 basis points over the five-year U.S. Treasury yield.
