Borrowings (Tables)

12 Months Ended

Dec. 31, 2025

The Company has access to various sources of funds that allow for management of interest rate exposure and liquidity. The following table summarizes the Company's outstanding borrowings and weighted average interest rates as of December 31, 2025 and 2024:


	Outstanding Balance				Weighted Average Interest Rate
	December 31,				December 31,
	2025		2024		2025		2024
Securities sold under agreements to repurchase and federal funds purchased	$	99,865	$	13,499	4.01	%	0.20	%


Subordinated debt, net	83,670		130,704		5.01	%	5.28	%
Other borrowings	29,229		32,586		0.07	%	0.07	%
Total	$	212,764	$	176,789

Schedule of Securities Sold Under Agreement to Repurchase

Information concerning securities sold under agreement to repurchase and federal funds purchased as of or for the years ended December 31, 2025 and 2024 is summarized as follows:


	December 31, 2025			December 31, 2024
Balance at period-end	$	99,865		$	13,499
Average daily balance during the period	11,950			21,339
Average interest rate during the period	0.79		%	1.72		%
Maximum month-end balance during the period	$	107,486		$	78,228
Weighted average interest rate at period-end	4.01		%	0.20		%

Schedule of FHLB Advances

Information concerning FHLB advances as of or for the year ended December 31, 2025 is shown within the table below. There were no FHLB advances outstanding as of or for the year ended December 31, 2024.


	December 31, 2025
Balance at period-end	$	—
Average daily balance during the period	9,589
Average interest rate during the period	4.36		%
Maximum month-end balance during the period	$	100,000
Weighted average interest rate at period-end	—		%

Schedule of Subordinated Debt

Further details regarding our subordinated debt as of December 31, 2025 are provided below.

Name

Year established

Maturity

Call date

Total debt outstanding

Interest rate

Coupon structure

February 2032 Subordinated Debt(1)

2022

02/07/2032

03/30/2027

47,500

3.50%

Quarterly fixed(2)

October 2032 Subordinated Debt(1)

2022

10/26/2032

12/30/2027

40,000

7.00%

Quarterly fixed(2)

December 2031 Subordinated Debt(1)

2021

12/22/2031

12/31/2026

5,000

3.50%

Quarterly fixed(2)

Unamortized fair value marks

(8,830)

Total subordinated debt, net

83,670

(1) The Company classifies the issuance, net of unamortized fair value marks, as Tier 2 capital, which will be phased out 20% per year in the final five years before maturity.

(2) Beginning on each respective call date, the coupon structure migrates to 3M SOFR plus a spread of 205 basis points, 306 basis points and 242 basis points for the February 2032, October 2032 and December 2031 subordinated issues, respectively, through the end of the term of each debenture.

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details

FB Financial Corp 10-K