FB Financial delivered adjusted net income of $61.5 million for Q4 2025, equivalent to $1.16 per diluted share, surpassing the consensus estimate of $1.14. Reported net income rose to $57.0 million, or $1.07 per share, compared with $39.8 million, or $0.85 per share, a year earlier. Total revenue climbed 37% year-over-year to $178.6 million, driven by a 28% lift in net interest income and a 31% increase in noninterest income.

Loans held for investment grew 29% from Q4 2024 to $12.38 billion, with commercial real estate up $34.2 million, residential real estate up $28.4 million and commercial and industrial loans up $26.8 million. Deposits reached $13.91 billion, a 24% increase year-over-year, supported by a $2.63 billion noninterest-bearing balance and continued inflows into core banking accounts despite a modest decline in noninterest deposits from the prior quarter.

Tax-equivalent net interest income achieved a quarterly record of $150.6 million, aided by a 13 basis point reduction in deposit funding costs. Net interest margin expanded to 3.98% from 3.50% year-over-year, as the cost of interest-bearing deposits fell to 2.99% and the yield on loans held for investment remained robust at 6.34%. Purchase accounting accretion contributed 17 basis points to margin for the quarter.

The allowance for credit losses on loans held for investment stood at $186.0 million, or 1.50% of the loan portfolio, unchanged sequentially. Annualized net charge-offs were 0.05% of average loans, matching the prior quarter and significantly below the 0.47% recorded in Q4 2024. Nonperforming loans represented 0.97% of total loans, up slightly from 0.94%, but provisions for credit losses remained modest at $2.4 million for loans and a reversal of $1.2 million for unfunded commitments.