# FB Financial Corporation Reports Q2 2025 Financial Results (NYSE: FBK)
**Release Date:** July 14, 2025
FB Financial Corporation (NYSE: FBK), the parent company of FirstBank, has released its financial results for the second quarter of 2025. Below is a summary of the results, including key metrics, comparisons to previous quarters, and other relevant information.
### Key Financial Metrics
– **Net Income:**
– Q2 2025: $2.9 million ($0.06 per diluted share)
– Previous Quarter (Q1 2025): $39.4 million ($0.84 per diluted share)
– Q2 2024: $40.0 million ($0.85 per diluted share)
– **Adjusted Net Income:**
– Q2 2025: $40.8 million ($0.88 per diluted share)
– Previous Quarter (Q1 2025): $40.1 million ($0.85 per diluted share)
– Q2 2024: $39.4 million ($0.84 per diluted share)
– **Adjusted Pre-Tax, Pre-Provision Net Revenue:**
– Q2 2025: $58.6 million
– Previous Quarter (Q1 2025): $52.1 million
– Q2 2024: $52.4 million
– **Growth**:
– 12.5% increase from Q1 2025
– 12.0% increase from Q2 2024
– **Loans Held for Investment (HFI):**
– Q2 2025: $9.87 billion (up 4.22% from Q1 2025, 6.07% from Q2 2024)
– **Total Deposits:**
– Q2 2025: $11.40 billion (up 7.21% annualized from Q1 2025, 8.94% from Q2 2024)
– **Net Interest Margin (NIM):**
– Q2 2025: 3.68% (up from 3.55% in Q1 2025 and 3.57% in Q2 2024)
– **Book Value per Share:**
– Q2 2025: $35.17 (up 8.50% from Q1 2025, 9.33% from Q2 2024)
– **Tangible Book Value per Share:**
– Q2 2025: $29.78 (up 9.09% from Q1 2025, 11.0% from Q2 2024)
### Balance Sheet Highlights
– **Total Assets:**
– Q2 2025: $13.35 billion (up 6.65% from Q1 2025, 6.53% from Q2 2024)
– **Noninterest Income:**
– Core noninterest income*: $25.8 million (up from $23.6 million in Q1 2025 and $23.8 million in Q2 2024)
– Mortgage banking income: $13.0 million (up from $12.4 million Q1 2025, $11.9 million Q2 2024)
### Credit Quality
– **Net Charge-Offs Ratio:**
– Q2 2025: 0.02% (down from 0.14% in Q1 2025 and equal to Q2 2024)
– **Allowance for Credit Losses on Loans HFI:**
– As of Q2 2025: $148.9 million (1.51% of loans HFI, down from 1.54% in Q1 2025)
### Capital Management
– **Capital Ratios:**
– Total Risk-Based Capital Ratio: 14.7%
– Common Equity Tier 1 Ratio: 12.3%
– Tangible Common Equity to Tangible Assets Ratio*: 10.4%
– **Share Repurchases:**
– The Company repurchased 811,704 shares during the quarter.
### Effective Tax Rate
– **Q2 2025:**
– 130.0% (reflecting a $60.5 million loss on the sale of securities and a one-time income tax benefit of $10.7 million).
### Dividends and Additional Information
– No quarterly dividend was declared for Q2 2025.
### Recent Developments
– The merger with Southern States Bancshares, Inc. was completed on July 1, 2025, enhancing the Company’s asset base. Southern States had approximately $2.87 billion in total assets and $2.32 billion in loans at closing.
### Conclusion
In summary, FB Financial Corporation reported mixed financial results for Q2 2025, highlighting significant adjustments in net income and operational metrics while maintaining a solid capital position. The merger with Southern States is anticipated to bolster future growth.
### Condensed Consolidated Statements of Income
*(amounts in thousands)*
| Item | Jun 2025 | Mar 2025 | Jun 2024 |
|---|---|---|---|
| Net interest income | 111,415 | 107,641 | 102,615 |
| NIM | 3.68% | 3.55% | 3.57% |
| Noninterest (loss) income | -34,552 | 23,032 | 25,608 |
| (Loss) gain from securities, net | -60,549 | 16 | — |
| Gain (loss) on sales or write-downs of premises | 236 | -625 | -281 |
| Total revenue | 76,863 | 130,673 | 128,223 |
| Noninterest expense | 81,261 | 79,549 | 75,093 |
| Early retirement and severance costs | — | — | 1,015 |
| Merger and integration costs | 2,734 | 401 | — |
| Efficiency ratio | 105.7% | 60.9% | 58.6% |
| Core efficiency ratio* | 56.9% | 59.9% | 58.3% |
| Pre-tax, pre-provision net revenue | -4,398 | 51,124 | 53,130 |
| Adjusted pre-tax, pre-provision net revenue* | 58,649 | 52,134 | 52,369 |
| Provisions for credit losses | 5,337 | 2,292 | 2,224 |
| Net income applicable to FB Financial Corporation | 2,909 | 39,361 | 39,979 |
| Diluted earnings per common share | 0.06 | 0.84 | 0.85 |
| Effective tax rate (a) | 130.0% | 19.4% | 21.4% |
| Adjusted net income* | 40,821 | 40,108 | 39,424 |
| Adjusted diluted earnings per common share* | 0.88 | 0.85 | 0.84 |
| Weighted average number of shares outstanding – fully diluted | 46,179,090 | 47,024,211 | 46,845,143 |
### Condensed Consolidated Balance Sheets
*(amounts in thousands)*
| Item | Jun 2025 | Mar 2025 | Jun 2024 |
|---|---|---|---|
| Cash and cash equivalents | 1,165,729 | 794,706 | 800,902 |
| Investment securities, at fair value | 1,337,565 | 1,580,720 | 1,482,379 |
| Loans held for sale | 144,212 | 172,770 | 106,875 |
| Loans HFI | 9,874,282 | 9,771,536 | 9,309,553 |
| Allowance for credit losses on loans HFI | -148,948 | -150,531 | -155,055 |
| Total assets | 13,354,238 | 13,136,449 | 12,535,169 |
| Interest-bearing deposits (non-brokered) | 8,692,848 | 8,623,636 | 8,130,704 |
| Brokered deposits | 518,719 | 414,428 | 150,113 |
| Noninterest-bearing deposits | 2,191,903 | 2,163,934 | 2,187,185 |
| Total deposits | 11,403,470 | 11,201,998 | 10,468,002 |
| Borrowings | 164,485 | 168,944 | 360,944 |
| Allowance for credit losses on unfunded commitments | 12,932 | 6,493 | 5,984 |
| Total common shareholders’ equity | 1,611,130 | 1,601,962 | 1,500,502 |
