FB Financial (FBK) 8-K FB Financial Corporation Reports Strong 2018 Second Quarter Results

Exhibit 99.2

Second Quarter 2018

Financial Supplement

TABLE OF CONTENTS

	Page
Financial Summary and Key Metrics	4
Consolidated Statements of Income	5-6
Consolidated Balance Sheets	7
Average Balance, Average Yield Earned and Average Rate Paid	8-10
Loans and Deposits by Market	11
Segment Data	12
Loan Portfolio and Asset Quality	13
Preliminary Capital Ratios	14
Investment Portfolio	15
Non-GAAP Reconciliation	16-18

Use of non-GAAP Financial Measures

This Supplemental Financial Information contains certain financial measures that are not measures recognized under U.S. generally accepted accounting principles (“GAAP”) and therefore are considered non-GAAP financial measures. These non‐GAAP financial measures include, without limitation, adjusted net income, core net income, adjusted diluted earnings per share,  core diluted earnings per share, core noninterest expense and core noninterest income, core efficiency ratio (tax equivalent basis), Banking segment core efficiency ratio (tax equivalent basis), Mortgage segment core efficiency ratio (tax equivalent basis), adjusted mortgage contribution, core return on average assets and equity and core total revenue.  Each of these non-GAAP metrics excludes certain income and expense items that the Company’s management considers to be non‐core in nature. The Company refers to these non‐GAAP measures as adjusted or core measures. The corresponding Earnings Release also presents tangible assets, tangible common equity, tangible book value per common share, tangible common equity to tangible assets, return on tangible common equity, return on average tangible common equity, adjusted return on average assets, adjusted return on average equity, core return on average tangible common equity and adjusted return on average tangible common equity.  Each of these non-GAAP metrics excludes the impact of goodwill and other intangibles.

The Company’s management uses these non-GAAP financial measures in their analysis of the Company’s performance, financial condition and the efficiency of its operations as management believes such measures facilitate period-to-period comparisons and provide meaningful indications of its operating performance as they eliminate both gains and charges that management views as non-recurring or not indicative of operating performance. Management believes that these non-GAAP financial measures provide a greater understanding of ongoing operations and enhance comparability of results with prior periods as well as demonstrating the effects of significant non-core gains and charges in the current and prior periods. The Company’s management also believes that investors find these non-GAAP financial measures useful as they assist investors in understanding the Company’s underlying operating performance and in the analysis of ongoing operating trends.  In addition, because intangible assets such as goodwill and other intangibles, and the other items excluded each vary extensively from company to company, the Company believes that the presentation of this information allows investors to more easily compare the Company’s results to the results of other companies.  However, the non-GAAP financial measures discussed herein should not be considered in isolation or as a substitute for the most directly comparable or other financial measures calculated in accordance with GAAP. Moreover, the manner in which the Company calculates the non-GAAP financial measures discussed herein may differ from that of other companies reporting measures with similar names. You should understand how such other banking organizations calculate their financial measures similar or with names similar to the non-GAAP financial measures the Company has discussed herein when comparing such non-GAAP financial measures.  The following tables provide a reconciliation of these measures to the most directly comparable GAAP financial measures.

FB Financial Corporation

Second Quarter 2018

Supplemental Financial Information

Page 4

Financial Summary and Key Metrics
(Unaudited)
(In Thousands, Except Share Data and %)
	2018						2017
	Second Quarter			First Quarter			Fourth Quarter			Third Quarter			Second Quarter
Statement of Income Data
Total interest income	$	59,043		$	54,848		$	55,031		$	48,415		$	33,278
Total interest expense		7,526			6,419			6,048			4,805			2,851
Net interest income		51,517			48,429			48,983			43,610			30,427
Provision for loan losses		1,063			317			956			(784	)		(865	)
Total noninterest income		35,708			33,275			37,017			37,820			35,657
Total noninterest expense		56,303			56,151			57,540			69,224			49,136
Net income before income taxes		29,859			25,236			27,504			12,990			17,813
Income tax expense		7,794			5,482			4,486			4,602			6,574
Net income	$	22,065		$	19,754		$	23,018		$	8,388		$	11,239
Net interest income (tax—equivalent basis)	$	51,909		$	48,799		$	49,692		$	44,281		$	31,158
Net income, adjusted*	$	22,736		$	20,636		$	18,265		$	17,936		$	11,705
Per Common Share
Diluted net income	$	0.70		$	0.63		$	0.74		$	0.27		$	0.43
Diluted net income, adjusted*	$	0.72		$	0.66		$	0.59		$	0.58		$	0.45
Book value		20.56			19.92			19.54			18.76			17.59
Tangible book value*		15.66			14.99			14.56			13.79			15.83
Weighted average number of shares-diluted		31,294,044			31,421,830			31,166,080			30,604,537			26,301,458
Period-end number of shares		30,683,353			30,671,763			30,535,517			30,526,592			28,968,160
Selected Balance Sheet Data
Cash and due from banks	$	67,863		$	53,060		$	29,831		$	67,070		$	59,112
Loans held for investment (HFI)		3,415,575			3,244,663			3,166,911			3,114,562			1,970,974
Allowance for loan losses		(26,347	)		(24,406	)		(24,041	)		(23,482	)		(23,247	)
Loans held for sale		374,916			414,518			526,185			466,369			427,416
Investment securities, at fair value		611,435			597,347			543,992			543,282			553,357
Other real estate owned, net		14,639			15,334			16,442			13,812			6,370
Total assets		4,923,249			4,725,416			4,727,713			4,581,943			3,346,570
Customer deposits		3,844,009			3,684,758			3,578,694			3,614,220			2,726,060
Brokered and internet time deposits		65,854			81,393			85,701			104,318			1,533
Total deposits		3,909,863			3,766,151			3,664,395			3,718,538			2,727,593
Borrowings		326,897			278,293			333,302			196,299			43,790
Total shareholders' equity		630,959			611,075			596,729			572,528			509,517
Selected Ratios
Return on average:
Assets		1.86	%		1.71	%		1.96	%		0.80	%		1.40	%
Shareholders' equity		14.4	%		13.4	%		15.8	%		6.0	%		11.3	%
Tangible common equity*		19.0	%		17.9	%		21.3	%		7.7	%		13.0	%
Average shareholders' equity to average assets		12.9	%		12.8	%		12.4	%		13.2	%		12.4	%
Net interest margin (NIM) (tax-equivalent basis)		4.81	%		4.64	%		4.63	%		4.61	%		4.19	%
Efficiency ratio (GAAP)		64.5	%		68.7	%		66.9	%		85.0	%		74.4	%
Core efficiency ratio (tax-equivalent basis)*		62.1	%		65.5	%		63.6	%		64.4	%		70.2	%
Loans held for investment to deposit ratio		87.4	%		86.2	%		86.4	%		83.8	%		72.3	%
Total loans to deposit ratio		96.9	%		97.2	%		100.8	%		96.3	%		87.9	%
Yield on interest-earning assets		5.51	%		5.25	%		5.20	%		5.10	%		4.57	%
Cost of interest-bearing liabilities		0.96	%		0.85	%		0.79	%		0.71	%		0.55	%
Cost of total deposits		0.62	%		0.55	%		0.50	%		0.46	%		0.34	%
Credit Quality Ratios
Allowance for loan losses as a percentage of loans held for investment		0.77	%		0.75	%		0.76	%		0.75	%		1.18	%
Net (recoveries) charge-off's as a percentage of average loans
held for investment		(0.11	)%		(0.01	)%		0.05	%		(0.15	)%		(0.25	)%
Nonperforming loans held for investment as a percentage of total loans
held for investments		0.26	%		0.30	%		0.32	%		0.29	%		0.50	%
Nonperforming assets as a percentage of total assets (a)		0.52	%		0.59	%		1.52	%		0.88	%		0.58	%
Preliminary capital ratios (Consolidated)
Shareholders' equity to assets		12.8	%		12.9	%		12.6	%		12.5	%		15.2	%
Tangible common equity to tangible assets*		10.1	%		10.2	%		9.7	%		9.5	%		13.9	%
Tier 1 capital (to average assets)		10.9	%		10.7	%		10.5	%		11.4	%		15.5	%
Tier 1 capital (to risk-weighted assets)		11.4	%		11.8	%		11.4	%		11.6	%		18.3	%
Total capital (to risk-weighted assets)		12.0	%		12.3	%		12.0	%		12.2	%		19.1	%
Common Equity Tier 1 (to risk-weighted assets) (CET1)		10.7	%		11.0	%		10.7	%		10.8	%		17.2	%
*These measures are considered non-GAAP financial measures. See “GAAP Reconciliation and Use of Non-GAAP Financial Measures” and the corresponding financial tables below for reconciliations of these Non-GAAP measures. Investors are encouraged to refer to the discussion of non-GAAP measures included in the corresponding earnings release.
(a) For the three months ended December 31 and September 30, 2017, GNMA loans subject to ability to repurchase were included. The Company derecognized these in the first quarter of 2018 as the perceived benefit has decreased with rising rates.

FB Financial Corporation

Second Quarter 2018

Supplemental Financial Information

Page 5

Consolidated Statements of Income
(Unaudited)
(In Thousands, Except Share Data and %)
																		Q2 2018			Q2 2018
																	vs.			vs.
	2018							2017										Q1 2018			Q2 2017
	Second Quarter				First Quarter			Fourth Quarter			Third Quarter			Second Quarter				Percent variance			Percent variance
Interest income:
Interest and fees on loans	$	54,529			$	50,693		$	51,246		$	44,367		$	29,350			7.6	%		85.8	%
Interest on securities
Taxable		3,134				2,852			2,529			2,399			2,589			9.9	%		21.1	%
Tax-exempt		981				925			910			988			1,068			6.1	%		-8.1	%
Other		399				378			346			661			271			5.6	%		47.2	%
Total interest income		59,043				54,848			55,031			48,415			33,278			7.6	%		77.4	%
Interest expense:
Deposits
Demand and savings accounts		3,951				3,315			3,209			2,829			1,703			19.2	%		132.0	%
Time deposits		1,947				1,756			1,447			1,125			604			10.9	%		222.4	%
Short-term borrowings		694				422			382			25			112			64.5	%		519.6	%
Long-term debt		934				926			1,010			826			432			0.9	%		116.2	%
Total interest expense		7,526				6,419			6,048			4,805			2,851			17.2	%		164.0	%
Net interest income		51,517				48,429			48,983			43,610			30,427			6.4	%		69.3	%
Provision for loan losses		1,063				317			956			(784	)		(865	)		235.3	%		-222.9	%
Net interest income after provision for loan losses		50,454				48,112			48,027			44,394			31,292			4.9	%		61.2	%
Noninterest income:
Mortgage banking income		28,544				26,471			30,280			31,334			30,239			7.8	%		-5.6	%
Service charges on deposit accounts		2,132				2,097			2,181			2,044			1,796			1.7	%		18.7	%
ATM and interchange fees		2,581				2,361			2,430			2,222			2,085			9.3	%		23.8	%
Investment services and trust income		1,180				1,206			1,154			1,078			903			-2.2	%		30.7	%
(Loss) gain from securities, net		(97	)			(47	)		1			254			29			106.4	%		-434.5	%
Gain (loss) on sales or write-downs of other real estate       owned		23				(186	)		(72	)		(368	)		23			-112.4	%		0.0	%
(Loss) gain from other assets		(155	)			68			(314	)		54			39			-327.9	%		-497.4	%
Other income		1,500				1,305			1,357			1,202			543			14.9	%		176.2	%
Total noninterest income		35,708				33,275			37,017			37,820			35,657			7.3	%		0.1	%
Total revenue		87,225				81,704			86,000			81,430			66,084			6.8	%		32.0	%
Noninterest expenses:
Salaries, commissions and employee benefits		34,508				34,149			35,771			34,795			30,783			1.1	%		12.1	%
Occupancy and equipment expense		3,744				3,605			3,881			3,539			3,307			3.9	%		13.2	%
Legal and professional fees		1,965				2,043			1,764			1,512			1,033			-3.8	%		90.2	%
Data processing		2,138				2,035			1,766			1,761			1,460			5.1	%		46.4	%
Merger and conversion		-				1,193			2,069			15,711			767			-100.0	%		-100.0	%
Amortization of core deposits and other intangibles		802				853			922			558			123			-6.0	%		552.0	%
Loss on sale of mortgage servicing rights		-				-			-			-			249			0.0	%		-100.0	%
Regulatory fees and deposit insurance assessments		730				562			571			549			494			29.9	%		47.8	%
Software license and maintenance fees		390				467			529			523			364			-16.5	%		7.1	%
Advertising		3,408				3,282			3,189			3,493			3,343			3.8	%		1.9	%
Other expense		8,618				7,962			7,078			6,783			7,213			8.2	%		19.5	%
Total noninterest expense		56,303				56,151			57,540			69,224			49,136			0.3	%		14.6	%
Income before income taxes		29,859				25,236			27,504			12,990			17,813			18.3	%		67.6	%
Income tax expense		7,794				5,482			4,486			4,602			6,574			42.2	%		18.6	%
Net income	$	22,065			$	19,754		$	23,018		$	8,388		$	11,239			11.7	%		96.3	%
Earnings available to common shareholders	$	21,948		(a)	$	19,754		$	23,018		$	8,388		$	11,239
Weighted average common shares outstanding:
Basic		30,678,732				30,613,284			30,527,234			30,004,952			25,741,968
Fully diluted		31,294,044				31,421,830			31,166,080			30,604,537			26,301,458
Earnings per common share:
Basic	$	0.72			$	0.65		$	0.75		$	0.28		$	0.44
Fully diluted		0.70				0.63			0.74			0.27			0.43
(a) During the second quarter of 2018, the Company declared a dividend which included participating securities related to the Company's undistributed restricted stock units. As such, earnings per share is presented in accordance with the two-class method.

FB Financial Corporation

Second Quarter 2018

Supplemental Financial Information

Page 6

Consolidated Statements of Income
(Unaudited)
(In Thousands, Except Share Data and %)
	For the six months year ended June 30,						Q2 YTD 2018 vs. Q2 YTD 2017
	2018			2017			Percent variance
Interest income:
Interest and fees on loans	$	105,222		$	58,356			80.3	%
Interest on securities
Taxable		5,986			5,156			16.1	%
Tax-exempt		1,906			2,108			-9.6	%
Other		777			547			42.0	%
Total interest income		113,891			66,167			72.1	%
Interest expense:
Deposits
Demand and savings accounts		7,266			3,234			124.7	%
Time deposits		3,703			1,187			212.0	%
Short-term borrowings		1,116			210			431.4	%
Long-term debt		1,860			858			116.8	%
Total interest expense		13,945			5,489			154.1	%
Net interest income		99,946			60,678			64.7	%
Provision for loan losses		1,380			(1,122	)		-223.0	%
Net interest income after provision for loan losses		98,566			61,800			59.5	%
Noninterest income:
Mortgage banking income		55,015			55,319			-0.5	%
Service charges on deposit accounts		4,229			3,562			18.7	%
ATM and interchange fees		4,942			4,132			19.6	%
Investment services and trust income		2,386			1,717			39.0	%
(Loss) gain from securities, net		(144	)		30			-580.0	%
(Loss) gain on sales or write-downs of other real estate       owned		(163	)		771			-121.1	%
(Loss) gain on other assets		(87	)		39			-323.1	%
Other income		2,805			1,174			138.9	%
Total noninterest income		68,983			66,744			3.4	%
Total revenue		168,929			127,422			32.6	%
Noninterest expenses:
Salaries, commissions and employee benefits		68,657			59,789			14.8	%
Occupancy and equipment expense		7,349			6,416			14.5	%
Legal and professional fees		4,008			2,461			62.9	%
Data processing		4,173			2,961			40.9	%
Merger and conversion		1,193			1,254			-4.9	%
Amortization of intangibles		1,655			515			221.4	%
Loss on sale of mortgage servicing rights		-			249			-100.0	%
Regulatory fees and deposit insurance assessments		1,292			929			39.1	%
Software license and maintenance fees		857			821			4.4	%
Advertising		6,690			6,275			6.6	%
Other expense		16,580			13,883			19.4	%
Total noninterest expense		112,454			95,553			17.7	%
Net income before income taxes		55,095			32,991			67.0	%
Income tax expense		13,276			11,999			10.6	%
Net income	$	41,819		$	20,992			99.2	%
Earnings available to common shareholders(a)	$	41,596		$	20,992
Weighted average common shares outstanding:
Basic		30,646,189			24,944,633
Fully diluted		31,275,846			25,450,419
Earnings per common share:
Basic	$	1.36		$	0.84
Fully diluted	$	1.33		$	0.82
(a) During the second quarter of 2018, the Company declared a dividend which included participating securities related to certain of the Company's undistributed restricted stock units. As such, earnings per share is presented in accordance with the two-class method prospectively.

FB Financial Corporation

Second Quarter 2018

Supplemental Financial Information

Page 7

Consolidated Balance Sheets
(Unaudited)
(In Thousands, %)
													Annualized
														Q2 2018			Q2 2018
													vs.			vs.
	2018						2017							Q1 2018			Q2 2017
	Second Quarter			First Quarter			Fourth Quarter		Third Quarter		Second Quarter		Percent variance			Percent variance
ASSETS
Cash and due from banks	$	67,863		$	53,060		$	29,831	$	67,070	$	59,112		111.9	%		14.8	%
Federal funds sold		19,859			7,171			66,127		4,470		16,238		709.7	%		22.3	%
Interest bearing deposits in financial institutions		16,695			13,469			23,793		25,625		110,928		96.1	%		-84.9	%
Cash and cash equivalents		104,417			73,700			119,751		97,165		186,278		167.2	%		-43.9	%
Investments:
Available-for-sale debt securities, at fair value		608,360			594,248			536,270		535,555		544,706		9.5	%		11.7	%
Equity securities, at fair value		3,075			3,099			7,722		7,727		8,651		-3.1	%		-64.5	%
Federal Home Loan Bank stock, at cost		12,641			11,810			11,412		11,152		7,743		28.2	%		63.3	%
Loans held for sale, at fair value		374,916			414,518			526,185		466,369		427,416		-38.3	%		-12.3	%
Loans		3,415,575			3,244,663			3,166,911		3,114,562		1,970,974		21.1	%		73.3	%
Less: allowance for loan losses		26,347			24,406			24,041		23,482		23,247		31.9	%		13.3	%
Net loans		3,389,228			3,220,257			3,142,870		3,091,080		1,947,727		21.0	%		74.0	%
Premises and equipment, net		85,936			81,175			81,577		85,550		66,392		23.5	%		29.4	%
Other real estate owned, net		14,639			15,334			16,442		13,812		6,370		-18.2	%		129.8	%
Interest receivable		12,729			13,920			13,069		11,218		7,012		-34.3	%		81.5	%
Mortgage servicing rights, at fair value		109,449			93,160			76,107		63,046		48,464		70.1	%		125.8	%
Goodwill		137,190			137,190			137,190		138,910		46,867		0.0	%		192.7	%
Core deposit and other intangibles, net		13,203			14,027			14,902		12,550		4,048		-23.6	%		226.2	%
Other assets		57,466			52,978			44,216		47,809		44,896		34.0	%		28.0	%
Total assets	$	4,923,249		$	4,725,416		$	4,727,713	$	4,581,943	$	3,346,570		16.8	%		47.1	%
LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities:
Demand deposits
Noninterest-bearing	$	970,851		$	930,991		$	888,200	$	924,773	$	715,391		17.2	%		35.7	%
Interest-bearing		2,027,776			1,945,886			1,909,546		1,948,600		1,471,650		16.9	%		37.8	%
Savings deposits		181,127			182,265			178,320		177,949		143,951		-2.5	%		25.8	%
Customer time deposits		664,255			625,616			602,628		562,898		395,068		24.8	%		68.1	%
Brokered and internet time deposits		65,854			81,393			85,701		104,318		1,533		-76.6	%		4195.8	%
Total time deposits		730,109			707,009			688,329		667,216		396,601		13.1	%		84.1	%
Total deposits		3,909,863			3,766,151			3,664,395		3,718,538		2,727,593		15.3	%		43.3	%
Securities sold under agreements to repurchase		15,996			14,724			14,293		14,556		16,343		34.7	%		-2.1	%
Short-term borrowings		187,522			138,707			190,000		52,766		—		141.2	%		100.0	%
Long-term debt		139,375			139,586			143,302		143,533		43,790		-0.6	%		218.3	%
Accrued expenses and other liabilities		39,534			55,173			118,994		80,022		49,327		-113.7	%		-19.9	%
Total liabilities		4,292,290			4,114,341			4,130,984		4,009,415		2,837,053		17.3	%		51.3	%
Shareholders' equity:
Common stock, $1 par value		30,683			30,672			30,536		30,527		28,968		0.1	%		5.9	%
Additional paid-in capital		420,382			418,810			418,596		416,651		363,870		1.5	%		15.5	%
Retained earnings		187,250			167,094			147,449		123,779		115,391		48.4	%		62.3	%
Accumulated other comprehensive (loss) income, net		(7,356	)		(5,501	)		148		1,571		1,288		135.3	%		-671.1	%
Total shareholders' equity		630,959			611,075			596,729		572,528		509,517		13.1	%		23.8	%
Total liabilities and shareholders' equity	$	4,923,249		$	4,725,416		$	4,727,713	$	4,581,943	$	3,346,570		16.8	%		47.1	%

FB Financial Corporation

Second Quarter 2018

Supplemental Financial Information

Page 8

Average Balance, Average Yield Earned and Average Rate Paid
For the Quarters Ended
(Unaudited)
(In Thousands, Except %)
	Three Months Ended								Three Months Ended
	June 30, 2018								March 31, 2018
	Average balances			Interest income/ expense		Average yield/ rate			Average balances			Interest income/ expense		Average yield/ rate
Interest-earning assets:
Loans HFI(1)	$	3,289,045		$	50,193		6.12	%	$	3,192,490		$	46,564		5.92	%
Loans held for sale		362,571			4,382		4.85	%		434,573			4,173		3.89	%
Securities:
Taxable		484,035			3,134		2.60	%		457,826			2,852		2.53	%
Tax-exempt(1)		115,334			1,327		4.61	%		109,116			1,251		4.65	%
Total securities(1)		599,369			4,461		2.99	%		566,942			4,103		2.94	%
Federal funds sold		19,645			82		1.67	%		20,325			73		1.46	%
Interest-bearing deposits with other financial     institutions		42,750			155		1.45	%		35,463			165		1.89	%
FHLB stock		12,530			162		5.19	%		11,806			140		4.81	%
Total interest earning assets(1)		4,325,910			59,435		5.51	%		4,261,599			55,218		5.25	%
Noninterest Earning Assets:
Cash and due from banks		48,184								43,261
Allowance for loan losses		(24,771	)							(24,311	)
Other assets		414,668								397,945
Total noninterest earning assets		438,081								416,895
Total assets	$	4,763,991							$	4,678,494
Interest-bearing liabilities:
Interest bearing deposits:
Customer time deposits	$	628,709		$	1,638		1.04	%	$	617,784		$	1,423		0.93	%
Broker and internet time deposits		75,699			309		1.64	%		84,125			333		1.61	%
Time deposits		704,408			1,947		1.11	%		701,909			1,756		1.01	%
Money market		1,005,081			2,311		0.92	%		975,831			1,890		0.79	%
Negotiable order of withdrawals		935,351			1,571		0.67	%		943,707			1,357		0.58	%
Savings deposits		181,461			69		0.15	%		179,925			68		0.15	%
Total interest bearing deposits		2,826,301			5,898		0.84	%		2,801,372			5,071		0.73	%
Other interest-bearing liabilities:
FHLB advances		253,131			1,171		1.86	%		211,735			917		1.76	%
Other borrowings		20,002			45		0.90	%		15,160			25		0.67	%
Long-term debt		30,930			412		5.34	%		30,930			406		5.32	%
Total other interest-bearing liabilities		304,063			1,628		2.15	%		257,825			1,348		2.12	%
Total Interest-bearing liabilities		3,130,364			7,526		0.96	%		3,059,197			6,419		0.85	%
Noninterest bearing liabilities:
Demand deposits		975,760								927,213
Other liabilities		41,917								92,886
Total noninterest-bearing liabilities		1,017,677								1,020,099
Total liabilities		4,148,041								4,079,296
Shareholders' equity		615,950								599,198
Total liabilities and shareholders' equity	$	4,763,991							$	4,678,494
Net interest income(1)				$	51,909							$	48,799
Interest rate spread(1)							4.55	%							4.40	%
Net interest margin(1)							4.81	%							4.64	%
Average interest-earning assets to average interest- bearing liabilities							138.2	%							139.3	%
Tax equivalent adjustment				$	392							$	370
Loan HFI yield components:
Contractual interest rate(1)				$	44,057		5.37	%				$	41,536		5.28	%
Origination and other loan fee income					3,742		0.46	%					2,867		0.37	%
Accretion on purchased loans					1,928		0.23	%					1,687		0.21	%
Nonaccrual interest collections					250		0.03	%					399		0.05	%
Syndication fee income					216		0.03	%					75		0.01	%
Total loan yield				$	50,193		6.12	%				$	46,564		5.92	%
(1) Includes tax equivalent adjustment using combined marginal tax rate of 26.060% for 2018 and 39.225% for 2017

FB Financial Corporation

Second Quarter 2018

Supplemental Financial Information

Page 9

Average Balance, Average Yield Earned and Average Rate Paid
For the Quarters Ended
(Unaudited)
(In Thousands, Except %)
	Three Months Ended								Three Months Ended								Three Months Ended
	December 31, 2017								September 30, 2017								June 30, 2017
	Average balances			Interest income/ expense		Average yield/ rate			Average balances			Interest income/ expense		Average yield/ rate			Average balances			Interest income/ expense		Average yield/ rate
Interest-earning assets:
Loans HFI(1)	$	3,138,245		$	46,503		5.88	%	$	2,705,265		$	40,242		5.90	%	$	1,942,667		$	25,115		5.19	%
Loans held for sale		493,073			4,856		3.91	%		410,434			4,167		4.03	%		390,596			4,276		4.39	%
Securities:
Taxable		442,351			2,529		2.27	%		425,281			2,399		2.24	%		442,309			2,589		2.35	%
Tax-exempt(1)		108,000			1,506		5.53	%		117,429			1,617		5.46	%		122,553			1,758		5.75	%
Total securities(1)		550,351			4,035		2.91	%		542,710			4,016		2.94	%		564,862			4,347		3.09	%
Federal funds sold		18,227			14		0.30	%		39,363			76		0.77	%		8,456			23		1.09	%
Interest-bearing deposits with other financial institutions		42,693			177		1.64	%		108,185			448		1.64	%		68,460			158		0.93	%
FHLB stock		11,160			155		5.51	%		8,892			137		6.11	%		7,743			90		4.66	%
Total interest earning assets(1)		4,253,749			55,740		5.20	%		3,814,849			49,086		5.10	%		2,982,784			34,009		4.57	%
Noninterest Earning Assets:
Cash and due from banks		57,406								55,485								50,004
Allowance for loan losses		(23,470	)							(23,875	)							(22,813	)
Other assets		376,984								316,019								214,808
Total noninterest earning assets		410,920								347,629								241,999
Total assets	$	4,664,669							$	4,162,478							$	3,224,783
Interest-bearing liabilities:
Interest bearing deposits:
Customer time deposits	$	577,003		$	1,067		0.73	%	$	493,992		$	825		0.66	%	$	389,390		$	602		0.62	%
Broker and internet time deposits		95,480			380		1.58	%		95,207			300		1.25	%		1,522			2		0.53	%
Time deposits		672,483			1,447		0.85	%		589,199			1,125		0.76	%		390,912			604		0.62	%
Money market		1,071,194			1,991		0.74	%		1,023,612			1,722		0.67	%		723,020			889		0.49	%
Negotiable order of withdrawals		832,030			1,146		0.55	%		788,238			1,040		0.52	%		711,099			759		0.43	%
Savings deposits		178,574			72		0.16	%		166,184			67		0.16	%		143,357			55		0.15	%
Total interest bearing deposits		2,754,281			4,656		0.67	%		2,567,233			3,954		0.61	%		1,968,388			2,307		0.47	%
Other interest-bearing liabilities:
FHLB advances		241,307			967		1.59	%		86,795			428		1.96	%		52,569			192		1.46	%
Other borrowings		15,883			11		0.27	%		15,828			9		0.23	%		17,315			12		0.28	%
Long-term debt		30,930			414		5.31	%		30,930			414		5.31	%		30,930			340		4.41	%
Total other interest-bearing liabilities		288,120			1,392		1.92	%		133,553			851		2.52	%		100,814			544		2.16	%
Total Interest-bearing liabilities		3,042,401			6,048		0.79	%		2,700,786			4,805		0.71	%		2,069,202			2,851		0.55	%
Noninterest bearing liabilities:
Demand deposits		964,030								871,973								724,419
Other liabilities		79,382								39,310								32,357
Total noninterest-bearing liabilities		1,043,412								911,283								756,776
Total liabilities		4,085,813								3,612,069								2,825,978
Shareholders' equity		578,856								550,409								398,805
Total liabilities and shareholders' equity	$	4,664,669							$	4,162,478							$	3,224,783
Net interest income(1)				$	49,692							$	44,281							$	31,158
Interest rate spread(1)							4.41	%							4.40	%							4.10	%
Net interest margin(1)							4.63	%							4.61	%							4.19	%
Average interest-earning assets to average interest-bearing liabilities							139.8	%							141.2	%							144.2	%
Tax equivalent adjustment				$	709							$	671							$	731
Loan HFI yield components:
Contractual interest rate(1)				$	41,026		5.20	%				$	34,634		5.08	%				$	22,418		4.63	%
Origination and other loan fee income					2,084		0.26	%					2,610		0.38	%					1,447		0.30	%
Accretion on purchased loans					1,935		0.24	%					1,554		0.23	%					848		0.17	%
Nonaccrual interest collections					1,216		0.15	%					1,116		0.16	%					315		0.07	%
Syndication fee income					242		0.03	%					328		0.05	%					87		0.02	%
Total loan yield				$	46,503		5.88	%				$	40,242		5.90	%				$	25,115		5.19	%
(1) Includes tax equivalent adjustment using combined marginal tax rate of 39.225% for 2017

FB Financial Corporation

Second Quarter 2018

Supplemental Financial Information

Page 10

Average Balance, Average Yield Earned and Average Rate Paid
For the Periods Ended
(Unaudited)
(In Thousands, Except %)
	For the six months ended								For the six months ended
	June 30, 2018								June 30, 2017
	Average balances			Interest income/ expense		Average yield/ rate			Average balances			Interest income/ expense		Average yield/ rate
Interest-earning assets:
Loans HFI(1)	$	3,241,657		$	96,757		6.02	%	$	1,906,510		$	50,023		5.29	%
Loans held for sale		398,373			8,555		4.33	%		386,288			8,415		4.39	%
Securities:
Taxable		470,660			5,986		2.56	%		449,432			5,156		2.31	%
Tax-exempt(1)		112,286			2,578		4.63	%		120,098			3,469		5.82	%
Total securities(1)		582,946			8,564		2.96	%		569,530			8,625		3.05	%
Federal funds sold		19,983			155		1.56	%		11,375			50		0.89	%
Interest-bearing deposits with other financial institutions		39,126			320		1.65	%		75,680			329		0.88	%
FHLB stock		12,170			302		5.00	%		7,743			168		4.38	%
Total interest earning assets(1)		4,294,255			114,653		5.38	%		2,957,126			67,610		4.61	%
Noninterest Earning Assets:
Cash and due from banks		45,736								50,805
Allowance for loan losses		(24,544	)							(22,387	)
Other assets		404,485								213,067
Total noninterest earning assets		425,677								241,485
Total assets	$	4,719,932							$	3,198,611
Interest-bearing liabilities:
Interest bearing deposits:
Customer time deposits		623,276			3,061		0.99	%		389,032			1,184		0.61	%
Broker and internet time deposits		79,886			642		1.62	%		1,532			3		0.39	%
Time deposits		703,162			3,703		1.06	%		390,564			1,187		0.61	%
Money market	$	990,537		$	4,201		0.86	%	$	726,458		$	1,674		0.46	%
Negotiable order of withdrawals		939,506			2,928		0.63	%		715,006			1,454		0.41	%
Savings deposits		180,697			137		0.15	%		140,011			106		0.15	%
Total interest bearing deposits		2,813,902			10,969		0.79	%		1,972,039			4,421		0.45	%
Other interest-bearing liabilities:
FHLB advances		232,547			2,088		1.81	%		56,547			383		1.37	%
Other borrowings		17,595			70		0.80	%		18,096			22		0.25	%
Long-term debt		30,930			818		5.33	%		30,930			663		4.32	%
Total other interest-bearing liabilities		281,072			2,976		2.14	%		105,573			1,068		2.04	%
Total Interest-bearing liabilities	$	3,094,974		$	13,945		0.91	%	$	2,077,612		$	5,489		0.53	%
Noninterest bearing liabilities:
Demand deposits	$	952,140							$	716,560
Other liabilities		65,110								38,265
Total noninterest-bearing liabilities		1,017,250								754,825
Total liabilities		4,112,224								2,832,437
Shareholders' equity		607,708								366,174
Total liabilities and shareholders' equity	$	4,719,932							$	3,198,611
Net interest income(1)				$	100,708							$	62,121
Interest rate spread(1)							4.47	%							4.08	%
Net interest margin(1)							4.73	%							4.24	%
Average interest-earning assets to average interesting-bearing liabilities							138.7	%							142.3	%
Tax equivalent adjustment				$	762							$	1,443
Loan HFI yield components:
Contractual interest rate(1)				$	85,593		5.33	%				$	43,257		4.57	%
Origination and other loan fee income					6,609		0.41	%					3,384		0.36	%
Accretion on purchased loans					3,615		0.22	%					2,008		0.21	%
Nonaccrual interest collections					649		0.04	%					934		0.10	%
Syndicated fee income					291		0.02	%					440		0.05	%
Total loan yield				$	96,757		6.02	%				$	50,023		5.29	%
(1) Includes tax equivalent adjustment using combined marginal tax rate of 26.060% for 2018 and 39.225% for 2017

FB Financial Corporation

Second Quarter 2018

Supplemental Financial Information

Page 11

Loans and Deposits by Market
For the Quarters Ended
(Unaudited)
(In Thousands)
	2018					2017
	Second Quarter		First Quarter					Fourth Quarter	Third Quarter			Second Quarter
Loans by market
Metropolitan	$	2,210,419		$	2,076,465		$	1,984,826		$	1,932,934		$	1,461,129
Community		771,358			764,198			780,079			779,810			476,320
Specialty lending and other		433,798			404,000			402,006			401,818			33,525
Total	$	3,415,575		$	3,244,663		$	3,166,911		$	3,114,562		$	1,970,974
Deposits by market
Metropolitan		2,112,941			2,079,983			2,091,927			2,059,401			1,598,574
Community		1,392,649			1,409,612			1,291,922			1,311,120			1,085,345
Mortgage and other(1)		404,273			276,556			280,546			348,017			43,674
Total	$	3,909,863		$	3,766,151		$	3,664,395		$	3,718,538		$	2,727,593
(1) Includes deposits related to escrow balances from mortgage servicing portfolio and wholesale and other deposits

FB Financial Corporation

Second Quarter 2018

Supplemental Financial Information

Page 12

Segment Data
For the Quarters Ended
(Unaudited)
(In Thousands, Except %)
	2018						2017
	Second Quarter			First Quarter			Fourth Quarter			Third Quarter			Second Quarter
Banking segment
Net interest income	$	51,669		$	48,771		$	49,422		$	43,741		$	29,999
Provision for loan losses		1,063			317			956			(784	)		(865	)
Mortgage banking income retail footprint		6,894			6,108			6,455			7,498			7,118
Other noninterest income		7,164			6,804			6,737			6,486			5,418
Other noninterest mortgage banking expenses		5,649			5,097			5,294			6,216			5,368
Merger and conversion expense		-			1,193			2,069			15,711			767
Other noninterest expense		31,072			30,951			30,060			27,540			23,199
Pre-tax income after allocations	$	27,943		$	24,125		$	24,235		$	9,042		$	14,066
Total assets		4,443,490			4,220,543			4,130,349			4,056,901			2,878,437
Intracompany funding income included in net interest income		4,517			4,508			5,276			4,274			3,831
Core efficiency ratio*		51.7	%		55.2	%		55.5	%		56.2	%		60.4	%
Mortgage segment
Net interest income	$	(152	)	$	(342	)	$	(439	)	$	(131	)	$	428
Provision for loan losses		-			-			-			-			-
Noninterest income		21,650			20,363			23,825			23,836			23,121
Noninterest expense		19,582			18,910			20,117			19,757			19,802
Direct contribution	$	1,916		$	1,111		$	3,269		$	3,948		$	3,747
Total assets		479,759			504,873			597,364			525,042			468,133
Intracompany funding expense included in net interest income		4,517			4,508			5,276			4,274			3,831
Core efficiency ratio*		83.6	%		85.7	%		83.8	%		79.9	%		78.3	%
Interest rate lock commitments
volume during the period
Consumer direct	$	785,965		$	719,730		$	677,449		$	786,034		$	780,179
Third party origination (TPO)		239,995			245,679			189,299			269,473			296,034
Retail (total)		359,284			329,720			268,720			325,295			379,530
Correspondent		590,743			833,857			678,346			619,953			701,846
Total	$	1,975,987		$	2,128,986		$	1,813,814		$	2,000,755		$	2,157,589
Interest rate lock commitments
pipeline (period end)
Consumer direct	$	291,874		$	246,650		$	246,982		$	261,617		$	222,504
Third party origination (TPO)		92,526			107,365			63,034			93,353			88,938
Retail (total)		117,912			124,538			72,939			101,196			119,158
Correspondent		95,256			214,424			121,201			84,506			115,919
Total	$	597,568		$	692,977		$	504,156		$	540,672		$	546,519
Mortgage sales
Consumer direct	$	483,434		$	592,873		$	567,529		$	485,931		$	498,997
Third party origination (TPO)		205,050			160,903			216,866			194,164			209,185
Retail		79,497			64,925			68,695			71,358			66,640
Retail footprint		210,958			169,778			205,228			222,786			200,157
Reverse		12,252			14,779			20,587			17,520			17,870
Correspondent		715,733			679,561			606,526			646,003			542,410
Total	$	1,706,924		$	1,682,819		$	1,685,431		$	1,637,762		$	1,535,259
Gains and fees from origination and sale of mortgage loans held for sale	$	27,017		$	23,481		$	29,577		$	29,570		$	23,920
Net change in fair value of loans held for sale, derivatives, and other		(2,299	)		(90	)		(3,317	)		(806	)		5,412
Change in fair value of mortgage servicing rights, net of hedging		(1,778	)		(1,713	)		(190	)		(893	)		(1,840	)
Mortgage servicing income		5,604			4,793			4,210			3,463			2,747
Total mortgage banking
income	$	28,544		$	26,471		$	30,280		$	31,334		$	30,239
Mortgage sale margin (a)		1.58	%		1.40	%		1.75	%		1.81	%		1.56	%
*These measures are considered non-GAAP financial measures. See “GAAP Reconciliation and Use of Non-GAAP financial measures” and the corresponding financial tables below for a reconciliation and discussion of these non-GAAP measures.
(a) Calculated by dividing gains from sale of mortgage loans held for sale by total mortgage sales

FB Financial Corporation

Second Quarter 2018

Supplemental Financial Information

Page 13

Loan Portfolio and Asset Quality
For the Quarters Ended
(Unaudited)
(In Thousands, Except %)
	2018										2017
	June 30, 2018			% of Total		March 31, 2018			% of Total		December 31, 2017			% of Total		September 30, 2017			% of Total		June 30, 2017			% of Total
Loan portfolio
Commercial and industrial	$	813,041		24	%	$	765,115		24	%	$	715,075		23	%	$	731,588		23	%	$	423,704		21	%
Construction		522,446		15	%		466,495		14	%		448,326		14	%		435,414		14	%		282,727		14	%
Residential real estate:
1-to-4 family mortgage		528,022		15	%		491,725		15	%		480,989		15	%		459,467		15	%		307,152		16	%
Residential line of credit		208,668		6	%		197,740		6	%		194,986		6	%		188,392		6	%		177,783		9	%
Multi-family mortgage		57,344		2	%		63,295		2	%		62,374		2	%		74,004		2	%		52,810		3	%
Commercial real estate:
Owner occupied		470,789		15	%		499,331		16	%		495,872		16	%		473,395		15	%		371,462		19	%
Non-owner occupied		600,252		17	%		562,128		17	%		551,588		17	%		521,416		17	%		273,285		14	%
Consumer and other		215,013		6	%		198,834		6	%		217,701		7	%		230,886		7	%		82,051		4	%
Total loans held for investment	$	3,415,575		100	%	$	3,244,663		100	%	$	3,166,911		100	%	$	3,114,562		100	%	$	1,970,974		100	%
Allowance for loan losses rollforward summary
Allowance for loan losses at the beginning of the period	$	24,406				$	24,041				$	23,482				$	23,247				$	22,898
Charge-off's		(421	)				(661	)				(719	)				(575	)				(791	)
Recoveries		1,299					709					322					1,594					2,005
Provision for loan losses		1,063					317					956					(784	)				(865	)
Allowance for loan losses at the end of the period	$	26,347				$	24,406				$	24,041				$	23,482				$	23,247
Allowance for loan losses as a percentage of total loans held for investment		0.77	%				0.75	%				0.76	%				0.75	%				1.18	%
Charge-offs
Commercial and Industrial	$	(5	)			$	(220	)			$	(63	)			$	(221	)			$	(131	)
Construction		(15	)				-					(21	)				-					-
Residential real estate:
1-to-4 family mortgage		(5	)				(60	)				(45	)				(32	)				(35	)
Residential line of credit		-					(20	)				(72	)				(9	)				(195	)
Multi-family mortgage		-					-					-					-					-
Commercial real estate:
Owner occupied		-					-					(224	)				(64	)				-
Non-owner occupied		-					-					-					-					-
Consumer and other		(396	)				(361	)				(294	)				(249	)				(430	)
Total Charge Offs:		(421	)				(661	)				(719	)				(575	)				(791	)
Recoveries
Commercial and Industrial		135					135					100					200					1,511
Construction		862					252					4					1,022					29
Residential real estate:
1-to-4 family mortgage		43					15					33					86					14
Residential line of credit		44					27					27					157					155
Multi-family mortgage		-					-					-					-					-
Commercial real estate:
Owner occupied		108					23					22					24					11
Non-owner occupied		-					51					4					1					2
Consumer and other		107					206					132					104					283
Total Recoveries:		1,299					709					322					1,594					2,005
Net recoveries (charge-off's)	$	878				$	48				$	(397	)			$	1,019				$	1,214
Net (recoveries) charge-off's as a percentage of average total loans		(0.11	%)				(0.01	%)				0.05	%				(0.15	%)				(0.25	%)
Loans classified as substandard	$	58,331				$	52,835				$	55,488				$	59,588				$	37,858
Purchased credit impaired loans	$	77,630				$	85,752				$	88,835				$	92,455				$	15,733
Nonperforming assets(b)
Past due 90 days or more and accruing interest	$	1,639				$	2,689				$	1,996				$	1,238				$	1,619
Nonaccrual		7,174					6,954					8,101					7,749					8,327
Total nonperforming loans held for investment	$	8,813				$	9,643				$	10,097				$	8,987				$	9,946
Loans held for sale(a)		—					501					43,035					13,575					-
Other real estate owned- foreclosed		9,258					9,755					10,547					10,205					6,370
Other real estate owned- acquired excess facilities		5,381					5,579					5,895					3,607					-
Other assets		2,341					2,342					2,369					3,967					3,154
Total nonperforming assets	$	25,793				$	27,820				$	71,943				$	40,341				$	19,470
Total nonperforming loans as a percentage of    loans held for investment		0.26	%				0.30	%				0.32	%				0.29	%				0.50	%
Total nonperforming assets as a percentage of    total assets		0.52	%				0.59	%				1.52	%				0.88	%				0.58	%
Total accruing loans over 90 days delinquent as    a percentage of total assets		0.03	%				0.06	%				0.04	%				0.03	%				0.05	%
Loans restructured as troubled debt    restructurings	$	8,603				$	8,675				$	8,604				$	8,095				$	8,488
Troubled debt restructurings as a percentage of    loans held for investment		0.25	%				0.27	%				0.27	%				0.26	%				0.43	%
(a) Includes right to repurchase government guaranteed GNMA mortgage loans previously sold and internally serviced for the fourth and third quarters of 2017. The Bank has not exercised and does not expect to exercise the repurchase option. In the first quarter of 2018 and prospectively, the Bank has elected to discontinue this practice as the perceived benefit has decreased with rising rates.
(b) Nonperforming assets excludes purchase credit impaired loans

FB Financial Corporation

Second Quarter 2018

Supplemental Financial Information

Page 14

Preliminary Capital Ratios
(Unaudited)
(In Thousands, Except %)
Computation of Tangible Common Equity to Tangible Assets:	June 30, 2018			December 31, 2017
Total Equity	$	630,959		$	596,729
Less:
Goodwill		137,190			137,190
Other intangibles		13,203			14,902
Tangible Common Equity	$	480,566		$	444,637
Total Assets	$	4,923,249		$	4,727,713
Less:
Goodwill		137,190			137,190
Other intangibles		13,203			14,902
Tangible Assets	$	4,772,856		$	4,575,621
Total Common Equity to Total Assets		12.8	%		12.6	%
Tangible Common Equity to Tangible Assets*		10.1	%		9.7	%

	June 30, 2018			December 31, 2017
Preliminary Regulatory Capital:
Common Equity Tier 1 Capital	$	467,798		$	442,381
Tier 1 Capital		497,798			472,381
Total Capital		524,145			496,422
Preliminary Regulatory Capital Ratios:
Common Equity Tier 1		10.7	%		10.7	%
Tier 1 Risk-Based		11.4	%		11.4	%
Total Risk-Based		12.0	%		12.0	%
Tier 1 Leverage		10.9	%		10.5	%
*These measures are considered non-GAAP financial measures. See “GAAP Reconciliation and Use of Non-GAAP financial measures” and the corresponding financial tables below for a reconciliation and discussion of these non-GAAP measures.

FB Financial Corporation

Second Quarter 2018

Supplemental Financial Information

Page 15

Investment Portfolio
For the Quarters Ended
(Unaudited)
(In Thousands, Except %)
	2018											2017
Securities (at fair value)	Second Quarter						First Quarter					Fourth Quarter					Third Quarter					Second Quarter
Available for sale debt securities
U.S. government agency securities	$	983		0	%		$	982		0	%	$	986		0	%	$	992		0	%	$	990		0	%
Mortgage-backed securities - residential		477,974		78	%			472,930		79	%		418,781		77	%		418,794		77	%		410,708		74	%
Municipals, tax exempt		122,247		20	%			113,158		19	%		109,251		20	%		106,950		20	%		122,698		22	%
Treasury securities		7,156		1	%			7,178		1	%		7,252		1	%		8,819		2	%		10,310		2	%
Total available for sale debt securities		608,360		99	%			594,248		99	%		536,270		99	%		535,555		99	%		544,706		98	%
Equity securities		3,075		1	%	��		3,099		1	%		7,722		1	%		7,727		1	%		8,651		2	%
Total securities	$	611,435		100	%		$	597,347		100	%	$	543,992		100	%	$	543,282		100	%	$	553,357		100	%
Securities to total assets		12.4	%					12.6	%				11.5	%				11.9	%				16.5	%

FB Financial Corporation

Second Quarter 2018

Supplemental Financial Information

Page 16

Non-GAAP Reconciliation
For the Quarters Ended
(Unaudited)
(In Thousands, Except Share Data and %)
	2018					2017
Net income, adjusted	Second Quarter		First Quarter			Fourth Quarter			Third Quarter			Second Quarter
Pre-tax net income	$	29,859	$	25,236		$	27,504		$	12,990		$	17,813
Plus merger and offering-related expenses		671		1,193			2,069			15,711			767
Less significant gains (losses) on securities, other real estate
owned and other items		-		-			-			-			-
Pre-tax net income, adjusted	$	30,530	$	26,429		$	29,573		$	28,701		$	18,580
Income tax expense, adjusted		7,794		5,793			11,308			10,765			6,875
Net income, adjusted	$	22,736	$	20,636		$	18,265		$	17,936		$	11,705
Weighted average common shares outstanding fully diluted		31,294,044		31,421,830			31,166,080			30,604,537			26,301,458
Diluted earnings per share, adjusted
Diluted earnings per common share	$	0.70	$	0.63		$	0.74		$	0.27		$	0.43
Plus merger and offering-related expenses		0.02		0.04			0.07			0.51			0.03
Less significant gains (losses) on securities, other real estate
owned and other items		-		-			-			-			-
Less tax effect		-		(0.01	)		(0.22	)		(0.20	)		(0.01	)
Diluted earnings per share, adjusted	$	0.72	$	0.66		$	0.59		$	0.58		$	0.45
Previously, the Company adjusted reported net income for the following items: (i) change in fair value in MSRs, net, and (ii) Gains (losses) from securities, OREO, MSRs, other assets, and other items. Beginning with the first quarter of 2018, the Company is only adjusting reported earnings for (i) merger and conversion costs, (ii) impact of tax reform (fourth quarter 2017); and (iii) other significant items impacting comparability between quarterly and annual periods including costs related to the secondary stock offering completed by our primary shareholder during the second quarter of 2018. Prior periods have been adjusted to conform to this presentation, see below for previously reported amounts:

	2017
Previously reported core results*	Fourth Quarter		Third Quarter		Second Quarter
Core net income	$	18,677	$	18,516	$	12,919
Core diluted earnings per share	$	0.60	$	0.60	$	0.49
* Non-GAAP reconciliations of previously reported core results are included in previously issued earnings release supplements.

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Second Quarter 2018

Supplemental Financial Information

Page 17

Non-GAAP Reconciliation
For the Quarters Ended
(Unaudited)
(In Thousands, Except Share Data and %)
	2018						2017
Core efficiency ratio (tax-equivalent basis)	Second Quarter			First Quarter			Fourth Quarter			Third Quarter			Second Quarter
Total noninterest expense	$	56,303		$	56,151		$	57,540		$	69,224		$	49,136
Less merger and offering-related expenses		671			1,193			2,069			15,711			767
Less loss on sale of mortgage servicing rights		-			-			-			-			249
Core noninterest expense	$	55,632		$	54,958		$	55,471		$	53,513		$	48,120
Net interest income (tax-equivalent basis)		51,909			48,799			49,692			44,281			31,158
Total noninterest income		35,708			33,275			37,017			37,820			35,657
Less change in fair value on mortgage servicing rights		(1,778	)		(1,713	)		(190	)		(893	)		(1,840	)
Less (loss) gain on sales or write-downs of other real estate owned and other assets		(132	)		(118	)		(386	)		(314	)		62
Less (loss) gain from securities, net		(97	)		(47	)		1			254			29
Core noninterest income		37,715			35,153			37,592			38,773			37,406
Core revenue	$	89,624		$	83,952		$	87,284		$	83,054		$	68,564
Efficiency ratio (GAAP)(1)		64.5	%		68.7	%		66.9	%		85.0	%		74.4	%
Core efficiency ratio (tax-equivalent basis)		62.1	%		65.5	%		63.6	%		64.4	%		70.2	%
(1) Efficiency ratio (GAAP) is calculated by dividing reported noninterest expense by reported total revenue.

	2018						2017
Banking segment core efficiency ratio (tax equivalent)	Second Quarter			First Quarter			Fourth Quarter			Third Quarter			Second Quarter
Core consolidated noninterest expense	$	55,632		$	54,958		$	55,471		$	53,513		$	48,120
Less Mortgage segment noninterest expense		19,582			18,910			20,117			19,757			19,802
Add loss on sale of mortgage servicing rights		-			-			-			-			249
Adjusted Banking segment noninterest expense		36,050			36,048			35,354			33,756			28,567
Adjusted core revenue		89,624			83,952			87,284			83,054			68,564
Less Mortgage segment noninterest income		21,650			20,363			23,825			23,836			23,121
Less change in fair value on mortgage servicing rights		(1,778	)		(1,713	)		(190	)		(893	)		(1,840	)
Adjusted Banking segment total revenue	$	69,752		$	65,302		$	63,649		$	60,111		$	47,283
Banking segment core efficiency ratio (tax-equivalent basis)		51.7	%		55.2	%		55.5	%		56.2	%		60.4	%
Mortgage segment core efficiency ratio (tax equivalent)
Consolidated Noninterest expense	$	56,303		$	56,151		$	57,540		$	69,224		$	49,136
Less loss on sale of mortgage servicing rights		-			-			-			-			249
Less Banking segment noninterest expense		36,721			37,241			37,423			49,467			29,334
Adjusted Mortgage segment noninterest expense	$	19,582		$	18,910		$	20,117		$	19,757		$	19,553
Total noninterest income		35,708			33,275			37,017			37,820			35,657
Less Banking segment noninterest income		14,058			12,912			13,192			13,984			12,536
Less change in fair value on mortgage servicing rights		(1,778	)		(1,713	)		(190	)		(893	)		(1,840	)
Adjusted Mortgage segment total revenue	$	23,428		$	22,076		$	24,015		$	24,729		$	24,961
Mortgage segment core efficiency ratio (tax-equivalent basis)		83.6	%		85.7	%		83.8	%		79.9	%		78.3	%

	2018						2017
Mortgage contribution, adjusted	Second Quarter			First Quarter			Fourth Quarter			Third Quarter			Second Quarter
Mortgage segment pre-tax net contribution	$	1,916		$	1,111		$	3,269		$	3,948		$	3,747
Retail footprint:
Mortgage banking income		6,894			6,108			6,455			7,498			7,118
Mortgage banking expenses		5,649			5,097			5,294			6,216			5,368
Retail footprint pre-tax net contribution		1,245			1,011			1,161			1,282			1,750
Total mortgage banking pre-tax net contribution	$	3,161		$	2,122		$	4,430		$	5,230		$	5,497
Pre-tax net income		29,859			25,236			27,504			12,990			17,813
% total mortgage banking pre-tax net contribution		10.6	%		8.4	%		16.1	%		40.3	%		30.9	%
Pre-tax net income, adjusted		30,530			26,429			29,573			28,701			18,580
% total mortgage banking pre-tax net contribution, adjusted		10.4	%		8.0	%		15.0	%		18.2	%		29.6	%

	2018						2017
Tangible assets and equity	Second Quarter			First Quarter			Fourth Quarter			Third Quarter			Second Quarter
Tangible Assets
Total assets	$	4,923,249		$	4,725,416		$	4,727,713		$	4,581,943		$	3,346,570
Less goodwill		137,190			137,190			137,190			138,910			46,867
Less intangibles, net		13,203			14,027			14,902			12,550			4,048
Tangible assets	$	4,772,856		$	4,574,199		$	4,575,621		$	4,430,483		$	3,295,655
Tangible Common Equity
Total shareholders' equity	$	630,959		$	611,075		$	596,729		$	572,528		$	509,517
Less goodwill		137,190			137,190			137,190			138,910			46,867
Less intangibles, net		13,203			14,027			14,902			12,550			4,048
Tangible common equity	$	480,566		$	459,819		$	444,637		$	421,068		$	458,602
Common shares outstanding		30,683,353			30,671,763			30,535,517			30,526,592			28,968,160
Book value per common share	$	20.56		$	19.92		$	19.54		$	18.76		$	17.59
Tangible book value per common share	$	15.66		$	14.99		$	14.56		$	13.79		$	15.83
Total shareholders' equity to total assets		12.8	%		12.9	%		12.6	%		12.5	%		15.2	%
Tangible common equity to tangible assets		10.1	%		10.2	%		9.7	%		9.5	%		13.9	%
Net income	$	22,065		$	19,754		$	23,018		$	8,388		$	11,239
Return on tangible common equity		18.4	%		17.4	%		20.5	%		7.9	%		9.8	%

	2018						2017
Return on average tangible common equity	Second Quarter			First Quarter			Fourth Quarter			Third Quarter			Second Quarter
Total average shareholders' equity	$	615,950		$	599,198		$	578,856		$	550,409		$	398,805
Less average goodwill		137,190			137,190			137,190			108,220			46,839
Less average intangibles, net		13,615			14,465			13,726			9,983			4,124
Average tangible common equity	$	465,145		$	447,544		$	427,940		$	432,206		$	347,842
Net income	$	22,065		$	19,754		$	23,018		$	8,388		$	11,239
Return on average tangible common equity		19.0	%		17.9	%		21.3	%		7.7	%		13.0	%

FB Financial Corporation

Second Quarter 2018

Supplemental Financial Information

Page 18

Non-GAAP Reconciliation
For the Quarters Ended
(Unaudited)
(In Thousands, Except Share Data and %)
	2018						2017
Return on average tangible common equity, adjusted	Second Quarter			First Quarter			Fourth Quarter			Third Quarter			Second Quarter
Average tangible common equity		465,145			447,544			427,940			432,206			347,842
Net income, adjusted	$	22,736		$	20,636		$	18,265		$	17,936		$	11,705
Return on average tangible common equity, adjusted		19.6	%		18.7	%		16.9	%		16.5	%		13.5	%

	2018						2017
Return on average assets and equity, adjusted	Second Quarter			First Quarter			Fourth Quarter			Third Quarter			Second Quarter
Net income	$	22,065		$	19,754		$	23,018		$	8,388		$	11,239
Average assets		4,763,991			4,678,494			4,664,669			4,162,478			3,224,783
Average equity		615,950			599,198			578,856			550,409			398,805
Return on average assets		1.86	%		1.71	%		1.96	%		0.80	%		1.40	%
Return on average equity		14.4	%		13.4	%		15.8	%		6.1	%		11.3	%
Net income, adjusted		22,736			20,636			18,265			17,936			11,705
Return on average assets, adjusted		1.91	%		1.79	%		1.55	%		1.71	%		1.46	%
Return on average equity, adjusted		14.8	%		14.0	%		12.5	%		12.9	%		11.8	%

	2017
Previously reported core metrics*	Fourth Quarter			Third Quarter			Second Quarter
Core return on average tangible common equity		17.4	%		17.0	%		14.9	%
Core return on average assets		1.59	%		1.76	%		1.61	%
Core return on average equity		12.8	%		13.3	%		13.0	%
Core total revenue	$	86,575		$	82,383		$	67,833
* Non-GAAP reconciliations of previously reported core results are included in previously issued earnings release supplements.