FB Financial

FBK · NYSE · Financials · Financials, fiscal 2016 to 2025

FBK · Last close · November 6, 2026

$54.17

FB Financial's revenue rose 22.9% to $560 million in fiscal 2025. Net income was $123 million, up 5.7%. Its return on equity was 7.0%, down from 7.7% a year earlier. Its efficiency ratio was 67.5%, up from 65.2% a year earlier. It paid out $194 million in dividends and buybacks. The diluted share count rose 6.8%.

FB FINANCIAL CORPORATION Latest fiscal year ended December 31, 2025 10-K filed February 26, 2026 · 0001649749-26-000012 Updated November 3, 2026

Revenue

$560M

22.9%

Net income

$123M

5.7%

Return on equity

7.0%

0.7 pts

Return on tangible equity

8.4%

0.8 pts

Efficiency ratio

67.5%

2.4 pts

Market cap

$2.7B

Nov 6 close

P/E

11.9x

On $4.54 EPS, 4 qtrs

Return on equity is net income as a share of shareholders' equity; return on tangible equity leaves out goodwill and other intangible assets. The efficiency ratio is operating costs as a share of revenue, so lower means the bank spends less to earn each dollar. Market cap is the last closing share price times the latest diluted share count, so it is approximate. P/E is the last close divided by diluted earnings per share over the last four quarters, or the latest fiscal year where the quarters aren't available; there is none when the company made a loss.

Charts show fiscal years, from the 10-K filings.

What FB Financial does

FB Financial is a financial holding company based in Nashville, Tennessee. Its subsidiary, FirstBank, provides commercial and consumer banking to clients in selected markets. It works through 90 full-service branches in Tennessee, Kentucky, Alabama and Georgia, along with limited-service banking, ATM and mortgage loan production locations.

The bank takes deposits, offers consumer products such as mortgages, home equity lines and small consumer finance loans, and lends to businesses. It also runs a mortgage banking business through its branches and mortgage offices across the southeastern United States, using a traditional retail delivery channel.

As with other banks, most of its assets are loans, and it earns money from the interest on them and from fees, including mortgage banking fees.

Its biggest risks, as it describes them

Borrowers not repaying their loans, which are most of its assets.
A large part of its loans are secured by real estate, so a property downturn could hurt collateral values.
Local economic weakness in Tennessee, where it operates, that could affect it more than banks with wider footprints.
Changes in interest rates, and changes in the value of its investment securities.
The creditworthiness and liquidity of other financial institutions it does business with.

From FB Financial's annual report on Form 10-K, filed February 26, 2026, in our words; the 10-K has the full description and every risk factor. Updated with each new annual report.

Income statement

Revenue and net income

US$ billions, fiscal years; net losses in red. Revenue on the left axis, net income on the right; zero is the same line on both. Revenue is net of interest expense.

Revenue (left axis)Net income (right axis)

Efficiency ratio and net interest income

Percent of revenue. The efficiency ratio is noninterest expense over revenue.

Efficiency ratioNet interest income share

From fiscal 2016 to 2025, earnings per share grew 1.7% a year and net income 13.1% a year, as new shares raised the share count by 160% and diluted each share's earnings.

Diluted earnings per share

US$ per share, fiscal years, restated for any stock splits; loss years in red.

Return on equity

Percent. Net income over average equity; tangible equity excludes goodwill, intangibles and preferred stock.

Return on equityReturn on tangible common equity

Balance sheet

Loans and deposits

US$ billions, at each fiscal year end

Loans, netDeposits

Total assets and shareholders' equity

US$ billions, at each fiscal year end. Assets on the left axis, equity on the right.

Total assets (left axis)Equity (right axis)

Five years at a glance

Fiscal year end	FY21	FY22	FY23	FY24	FY25
Loans, net	7,479	9,164	9,258	9,450	12,198
Deposits	10,837	10,856	10,548	11,210	13,910
Loans to deposits	69.0%	84.4%	87.8%	84.3%	87.7%
Provision for credit losses	−39	10	17	15	33
Provision to average loans	−0.5%	0.1%	0.2%	0.2%	0.3%
Total assets	12,598	12,848	12,604	13,158	16,300
Shareholders' equity	1,433	1,325	1,455	1,568	1,948

US$ millions unless stated, at each fiscal year end.

Cash flow

Stock-based compensation and buybacks

US$ billions, fiscal years. Shares paid to employees (stock-based compensation, a cost that uses no cash) against cash spent buying shares back. Buybacks that only match it leave the share count roughly where it was.

Stock-based compensationShare buybacks

Dividends and buybacks

US$ billions, cash paid in each fiscal year

DividendsShare buybacks

Diluted share count

Weighted-average diluted shares, millions

Projections

Project FB Financial's revenue, net income and earnings per share five years ahead in a bull, a base and a bear case with your own figures, and see the share prices your P/E estimates give them. Every projected figure is yours: it is not a forecast of ours.

Open FB Financial's projections

Insider trades

Over the 12 months between November 7, 2025 and November 6, 2026, no insider bought FB Financial shares on the open market, and 3 insiders sold $995,328.

Buys and sells by month

US$ millions, open-market purchases (up) and sales (down) by officers, directors and 10% owners in each month.

BoughtSold

Date	Insider	Trade	Shares	Price	Value	Filing
Jul 15, 2026	Lynn J JoyceChief Accounting Officer	Sold	7,000	$59.03	$413,210	Form 4
Jan 15, 2026	James Austin McPherson10% owner	Sold	8,500	$60.06	$510,510	Form 4
Dec 11, 2025	Agenia ClarkDirector	Sold	1,210	$59.18	$71,608	Form 4

Open-market purchases and sales by officers, directors and 10% owners, from their Form 4 filings with the SEC: one row per person, day and filing, at the day's average price. Grants, option exercises and shares withheld for tax aren't counted. Insiders buy and sell for many reasons, such as taxes, spreading their savings or a plan set up months earlier, so a trade on its own says little about where a company is heading. For information only, not investment advice. Insider trades at all companies

Compare

Put FB Financial side by side with any other company we cover: revenue, growth, margins, cash flow and returns, with ten years of charts.

Similar companies

Company	Year	Revenue growth	Net margin	Return on equity	Return on tangible equity	Efficiency ratio	Compare
FB Financial	FY25	22.9%	21.9%	7.0%	8.4%	67.5%
ServisFirst Bancshares	FY25	16.8%	49.2%	16.0%	16.1%	32.9%	Compare
Beacon Financial	FY25	38.2%	16.3%	4.9%	6.2%	70.5%	Compare
First Commonwealth Financial	FY25	9.4%	29.1%	10.3%	14.0%	56.4%	Compare
CVB Financial	FY25	2.7%	40.6%	9.3%	14.1%	46.0%	Compare

Each company's latest fiscal year. Fiscal years end in different months, so the periods don't line up exactly.

10 years of figures

Fiscal year	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Income statement
Revenue	256	295	335	361	568	576	527	478	456	560
Revenue growth	37.2%	15.3%	13.5%	8.0%	57.0%	1.4%	−8.5%	−9.3%	−4.6%	22.9%
Net interest income	111	153	204	226	266	347	412	407	416	516
Noninterest income	145	142	131	135	302	228	115	70	39	44
Noninterest expense	195	222	224	245	377	374	348	325	297	378
Provision for credit losses	—	—	—	7	95	−39	10	17	15	33
Net income	41	52	80	84	64	190	125	120	116	123
Diluted EPS (US$)	2.10	1.86	2.55	2.65	1.67	3.97	2.64	2.57	2.48	2.45
Diluted shares (millions)	19	28	31	31	38	48	47	47	47	50
Payouts
Dividends paid	69	0	6	10	14	21	24	28	32	38
Share buybacks	0	241	492	0	0	8	40	5	13	156
Balance sheet at fiscal year end
Loans, net	1,827	3,143	3,639	4,378	6,913	7,479	9,164	9,258	9,450	12,198
Deposits	2,672	3,664	4,172	4,935	9,458	10,837	10,856	10,548	11,210	13,910
Total assets	3,277	4,728	5,137	6,125	11,207	12,598	12,848	12,604	13,158	16,300
Shareholders' equity	330	597	672	762	1,291	1,433	1,325	1,455	1,568	1,948
Ratios
Return on equity	14.3%	11.3%	12.7%	11.7%	6.2%	14.0%	9.0%	8.7%	7.7%	7.0%
Return on tangible common equity	17.1%	14.1%	16.1%	14.8%	7.8%	17.0%	11.0%	10.5%	9.2%	8.4%
Return on assets	1.3%	1.3%	1.6%	1.5%	0.7%	1.6%	1.0%	0.9%	0.9%	0.8%
Efficiency ratio	76.2%	75.4%	66.8%	67.7%	66.5%	64.9%	66.1%	68.0%	65.2%	67.5%

US$ millions unless stated. Where a later 10-K restated a year, the latest filed figure is shown. Download all figures (CSV, US$ millions)

Source: FB Financial's Form 10-K filings, from SEC EDGAR. For information only, not investment advice. The Filing Desk is not affiliated with FB Financial.