FB Financial completes $368M Southern States merger, Q1 net income jumps 46% to $57.5M

Filed May 4, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 5, 2025 · ~2 min read

Key Changes

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  Completed Southern States Bancshares acquisition on July 1, 2025 for $368.4M in stock, adding $2.83B in assets, $2.27B in loans, and $2.47B in deposits across Alabama and Georgia markets. Transaction recorded $107.8M in goodwill.

  MD&A: Southern States merger completion verify on EDGAR →
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  Q1 2026 net income rose 46% year-over-year to $57.5M ($1.10 diluted EPS vs. $0.84 prior year), driven by merger contribution and organic growth. Net interest margin expanded 39 basis points to 3.94% from 3.55%.

  MD&A: net income and earnings per share verify on EDGAR →
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  Net interest income jumped 36% to $146.0M from $107.6M, reflecting $45.7M higher interest income partially offset by $7.3M higher interest expense. Margin expansion driven by improved deposit pricing and higher loan balances.

  MD&A: net interest income and margin expansion verify on EDGAR →