FBKMEDIUM SIGNALFINANCIAL10-K

FirstBank expanded meaningfully across key balance sheet metrics while maintaining strong cash generation and substantially increasing shareholder returns.

The bank demonstrated robust growth with assets, deposits, and equity all expanding by approximately 24%, indicating successful market expansion and customer acquisition. The substantial increase in dividend payments signals management confidence in earnings sustainability and commitment to enhanced shareholder returns.

Comparing 2026-02-26 vs 2025-02-25View on EDGAR →
FINANCIAL ANALYSIS

FirstBank delivered strong financial expansion with total assets growing to $16.3B and deposits reaching $13.9B, both up roughly 24% year-over-year. Net interest income grew 14.9% to $833.9M while operating cash flow increased 12.3% to $155.9M, demonstrating solid operational performance. The company meaningfully increased dividend payments while maintaining healthy balance sheet growth, reflecting both expansion success and enhanced capital returns to shareholders.

FINANCIAL STATEMENT CHANGES
Dividends Paid
Cash Flow
+51.3%
$14.3M→$21.6M

Dividend payments increased 51.3% — management confidence in sustained cash generation.

Capital Expenditure
Cash Flow
+35.2%
$6.5M→$8.8M

Capital expenditure jumped 35.2% — major investment cycle underway; assess returns on deployment.

Stockholders Equity
Balance Sheet
+24.3%
$1.6B→$1.9B

Equity base grew 24.3% — retained earnings accumulation or equity issuance strengthening the balance sheet.

Total Deposits
Balance Sheet
+24.1%
$11.2B→$13.9B

Deposits grew 24.1% — expanding customer base or increased trust in the institution.

Total Assets
Balance Sheet
+23.9%
$13.2B→$16.3B

Asset base grew 23.9% — expansion through organic growth, acquisitions, or capital deployment.

Total Liabilities
Balance Sheet
+23.8%
$11.6B→$14.4B

Liabilities increased 23.8% — monitor debt-to-equity ratio and interest coverage.

Total Debt
Balance Sheet
+20.3%
$176.8M→$212.8M

Debt rose 20.3% — additional borrowing for investment or operations; monitor coverage ratios.

Net Interest Income
P&L
+14.9%
$725.5M→$833.9M

Net interest income grew 14.9% — benefiting from rate environment or loan book expansion.

Operating Cash Flow
Cash Flow
+12.3%
$138.8M→$155.9M

Operating cash flow grew 12.3% — strong conversion of earnings to cash, healthy business fundamentals.

Cash & Equivalents
Balance Sheet
+10.9%
$1.0B→$1.2B

Cash grew 10.9% — improving liquidity position supports investment and shareholder returns.

LANGUAGE CHANGES
NEW — 2026-02-26
PRIOR — 2025-02-25
ADDED
ACL Allowance for credit losses EVE Economic value of equity AFS Available-for-sale FASB Financial Accounting Standards Board AI Artificial intelligence FDIA Federal Deposit Insurance Act ALCO Asset Liability Management Committee FDIC Federal Deposit Insurance Corporation AML U.S.
anti-money laundering law FDM Financial difficulty modification AOCI Accumulated other comprehensive income Federal Reserve Board of Governors of the Federal Reserve System ASC Accounting Standard Codification FHLB Federal Home Loan Bank ASU Accounting Standard Update FRA Federal Reserve Act Bank FirstBank, subsidiary bank GAAP U.S.
Securities and Exchange Commission DIF Deposit Insurance Fund SOFR Secured overnight financing rate Dodd-Frank Act Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 Southern States Southern States Bancshares, Inc.
EPS Earnings per share TDFI Tennessee Department of Financial Institutions ESPP Employee Stock Purchase Plan U.S.
These forward-looking statements include, without limitation, statements regarding the Company s future plans, results, strategies, and expectations, including expectations around changing economic markets.
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REMOVED
ACL Allowance for credit losses FDIA Federal Deposit Insurance Act AFS Available-for-sale FDIC Federal Deposit Insurance Corporation AI Artificial intelligence FDM Financial difficulty modification ALCO Asset Liability Management Committee Federal Reserve Board of Governors of the Federal Reserve System AOCI Accumulated other comprehensive income FHLB Federal Home Loan Bank ASC Accounting Standard Codification FRA Federal Reserve Act ASU Accounting Standard Update GAAP U.S.
Securities and Exchange Commission EPS Earnings per share SOFR Secured overnight financing rate ESPP Employee Stock Purchase Plan TDFI Tennessee Department of Financial Institutions EVE Economic value of equity U.S.
These forward-looking statements include, without limitation, statements regarding the Company s future plans, results, strategies, and expectations, including but not limited to expectations around changing economic markets.
Our wholly-owned bank subsidiary is FirstBank which provides a comprehensive suite of commercial and consumer banking services to clients in select markets primarily in Tennessee, Kentucky, Alabama and North Georgia.
As of December 31, 2024, our footprint included 77 full-service bank branches and several other limited service banking, ATM and mortgage loan production locations serving the Tennessee metropolitan markets of Nashville, Chattanooga (including North Georgia), Knoxville, Memphis, and Jackson in addition to the metropolitan markets of Birmingham, Florence and Huntsville, Alabama and Bowling Green, Kentucky.
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