FB Financial: 3 Key Takeaways for Long-Term Investors

On its third-quarter 2026 earnings call, held on Oct. 13, 2026, FB Financial (NYSE:FBK) announced annualized customer deposit growth of 11%. That momentum shows how the bank funds loan expansion organically without relying heavily on high-cost wholesale borrowing.

Three takeaways from management clarify the core drivers of long-term value creation.

1. Core Customer Deposits Drive Organic Balance Sheet Growth

FB Financial expanded its core deposit base during the third quarter. That organic gathering allowed the institution to trim brokered deposits while expanding customer relationships across its footprint.

On the deposit side, we strengthened our granular core deposit base through growth in active customer accounts and average balances, while adding several large commercial relationships.
-- Michael Mettee, Chief Financial and Operating Officer

2. Mortgage Originations Function as a Strategic Account Acquisition Engine

Management uses mortgage lending to secure high-value primary banking relationships rather than focusing solely on gain-on-sale fee income. A targeted campaign attaches checking accounts and deposit balances to new mortgage borrowers.

Today, 83% of participating borrowers have a checking relationship with FirstBank, with average deposit balances approximately twice our existing customer average median FICO scores above the current portfolio average, and loan to value ratios below secondary market originated loan values.
-- Michael Mettee, Chief Financial and Operating Officer

3. Floating-Rate Investment Assets Protect Capital and Flexibility

FB Financial keeps 61% of its investment portfolio in floating-rate assets to limit paper losses from interest rate swings. That balance sheet structure provides liquid capital to support opportunistic commercial lending.

Approximately 61% of the investment portfolio is floating rate with relatively limited embedded unrealized losses. This positions us to allocate capital opportunistically while many institutions remain constrained by balance sheet considerations.
-- Michael Mettee, Chief Financial and Operating Officer

Looking Ahead

Commercial borrowing pipelines remain full across Southeastern markets, and management isn't hiding its satisfaction with current regional expansion. FB Financial relies on disciplined loan pricing and internal talent development programs to sustain growth through changing credit cycles.

We see healthy activity levels across our markets strong pipelines, and meaningful opportunities to deepen existing relationships while adding new customers.
-- Christopher T. Holmes, President and Chief Executive Officer

The bank operates with significant capital flexibility, maintaining a common equity Tier 1 ratio of 11% to absorb rate volatility while pursuing strategic market share gains.

Our quality execution across the franchise remains a defining characteristic of our organization, and we continue to invest in people, process improvement and technology that drives long term growth.
-- Christopher T. Holmes, President and Chief Executive Officer

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