FB Financial Q3 2026 EPS Matches at $1.21 but Revenue Misses and Stock Drops 3.4%

FB Financial Corporation, parent of FirstBank, reported third-quarter 2026 adjusted earnings of $1.21 per diluted share, matching the consensus analyst estimate, while GAAP diluted EPS came in at $1.20. Revenue of $174.5 million was flat year over year and missed analyst expectations of roughly $181 million by about $7 million, a shortfall of 3.1% to 3.5% depending on the estimate used. Shares fell between 3.4% and 4.6% on the day.

The revenue miss was driven largely by net interest income of $149.9 million, which came in 2.3% below the $153.5 million analysts expected. Net interest margin for the quarter was 3.8%, falling 7.4 basis points short of the 3.9% estimate. The efficiency ratio also disappointed at 55%, versus analyst expectations of 52.9%. Management guided full-year 2026 net interest margin, excluding accretion, to a range of 3.7% to 3.8%, signaling that margin pressure is expected to persist into the fourth quarter as growth moderates.

On the balance sheet, the company posted solid loan and deposit growth. Loans held for investment rose to $13.18 billion at the end of the quarter from $12.87 billion in Q2, a 9.7% annualized increase and up 7.2% from the year-earlier period. Deposits grew at an annualized rate of 8.8%. Net income totaled $60.2 million, up from $58.6 million in Q2. Year over year the improvement was substantial, as the company earned only $0.43 per diluted share in Q3 2025. Analysts noted the company remains well-capitalized but flagged margin pressure as a constraint on near-term upside.