Monitor NIM trajectory given deposit cost pressure and the impact of the $125M sub-debt issuance on future net interest income. The 9.7% annualized loan growth rate may slow if rate cuts materialize. Watch for further share repurchase activity given the lower TCE/TA ratio of 9.32%.
Price Chart
Executive Summary
FB Financial Corp reported Q3 2026 GAAP diluted EPS of $1.20 and adjusted diluted EPS of $1.21, slightly above consensus of $1.19. Net interest income rose modestly QoQ to $149.9M, but NIM compressed to 3.83% from 3.95% due to deposit cost pressure and a nonaccrual interest reversal. Strong loan and deposit growth (9.7% and 8.8% annualized) was offset by lower mortgage banking income and higher expenses, while credit quality remained benign with net charge-offs of only 0.04%. The company completed a $125M subordinated debt issuance and repurchased $29.3M in stock during the quarter.
Key Financial Metrics
Key Facts
- GAAP diluted EPS of $1.20 vs $1.13 in Q2 2026 and $0.43 in Q3 2025
- Adjusted diluted EPS of $1.21 vs consensus of $1.19 (1.5% beat)
- Net interest income (tax-equivalent) of $150.8M, up from $149.8M QoQ
- NIM compressed to 3.83% from 3.95% QoQ, including 3 bps from nonaccrual interest reversal
- Loans HFI of $13.18B, up 9.68% annualized QoQ
- Total deposits of $14.67B, up 8.82% annualized QoQ
- Net charge-offs of $1.2M, or 0.04% annualized of average loans
- Nonperforming loans HFI at 1.18% of loans HFI vs 1.17% QoQ
- Completed $125M subordinated debt issuance at 180 bps over 5-year Treasury
- Repurchased 545,214 shares for $29.3M during the quarter
- Preliminary CET1 ratio of 11.0%, total risk-based capital ratio of 13.6%
Financial Impact
Q3 2026 net income of $60.2M; adjusted net income of $60.9M; total revenue of $174.5M
Risk Factors
- NIM compression from rising deposit costs and competitive pricing pressures
- Lower mortgage banking income due to higher rates and reduced customer demand
- Nonperforming loans HFI rising to 1.18% from 0.94% YoY, though still manageable
- Tangible common equity to tangible assets declined to 9.32% from 10.1% YoY
- AOCI losses increased to $60.8M from $38.5M YoY, pressuring book value
Investment Themes
Documents Analyzed
This report is based on 8 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001649749-26-000063 |
| Document: a3q26pressreleasetablesfor.htm | 0001649749-26-000063 |
| Document: a3q26earningspresentatio.htm | 0001649749-26-000063 |
| Document: fbk-20261013.htm | 0001649749-26-000063 |
| Document: 0001649749-26-000063-index-headers.html | 0001649749-26-000063 |
| Document: 0001649749-26-000063-index.html | 0001649749-26-000063 |
| Document: 0001649749-26-000063.txt | 0001649749-26-000063 |
| 8-K Data (Synthetic) | 0001649749-26-000063 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 21, 2026 4d ago | Insider Buy | $53.62 $53.46 | ▼ −0.30% | ▲ +0.22% | $53.46 (−0.30%) |
Oct 13, 2026 13d ago | 8-K | $50.72 $50.38 | ▼ −0.67% | ▲ +0.41% | $53.46 (+5.40%) |
Sep 21, 2026 5w ago | 424B5 | $53.60 $53.20 | ▼ −0.75% | ▼ −0.73% | $53.46 (−0.26%) |
Sep 21, 2026 5w ago | 8-K | $53.60 $53.20 | ▼ −0.75% | ▼ −0.73% | $53.46 (−0.26%) |
Sep 17, 2026 5w ago | 8-K | $53.50 $53.36 | ▼ −0.26% | ▼ −0.14% | $53.46 (−0.07%) |
Jul 15, 2026 14w ago | 144 | $60.42 $59.96 | ▼ −0.76% | ▲ +0.23% | $53.46 (−11.52%) |
May 13, 2026 23w ago | 8-K | $51.75 $51.30 | ▼ −0.87% | ▲ +0.36% | $53.46 (+3.30%) |
Apr 13, 2026 27w ago | 8-K | $54.48 $54.21 | ▼ −0.50% | ▼ −1.27% | $53.46 (−1.88%) |
US Market Status
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