Quarterly Results of Operations (Unaudited)

12 Months Ended

Dec. 31, 2020

Summarized unaudited quarterly operating results for the Company for the years ending December 31, 2020 and 2019 are as follows:


	2020
	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
Interest income	$	69,674	$	65,607	$	81,127	$	98,236
Interest expense	13,425		10,270		12,299		12,992
Net interest income	56,249		55,337		68,828		85,244
Provision for credit losses	27,964		24,039		45,834		(3,231)
Provision for credit losses on unfunded commitments	1,601		1,882		9,567		311
Net interest income after provision for loan losses	26,684		29,416		13,427		88,164
Noninterest income	42,700		81,491		97,026		80,638
Noninterest expense	68,559		80,579		118,092		109,855
Income tax expense (benefit)	80		7,455		(2,040)		13,337
Net income (loss) attributable to FB Financial Corporation and noncontrolling interest	$	745	$	22,873	$	(5,599)	$	45,610
Net income applicable to noncontrolling interest	—		—		—		8
Net income (loss) applicable to FB Financial Corporation	$	745	$	22,873	$	(5,599)	$	45,602
Weighted average common shares outstanding:
Basic	31,257,739		32,094,274		40,154,841		47,204,738
Fully diluted	31,734,112		32,506,417		40,637,745		47,791,659
Earnings per share
Basic	$	0.02	$	0.71	$	(0.14)	$	0.97
Fully diluted	$	0.02	$	0.70	$	(0.14)	$	0.95


	2019
	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
Interest income	$	65,933	$	71,719	$	73,242	$	71,643
Interest expense	12,917		14,696		14,937		13,951
Net interest income	53,016		57,023		58,305		57,692
Provision for loan losses	1,391		881		1,831		2,950
Net interest income after provision for loan losses	51,625		56,142		56,474		54,742
Noninterest income	29,039		32,979		38,145		35,234
Noninterest expense	55,101		64,119		62,935		62,686
Income tax expense	5,975		6,314		7,718		5,718
Net income	$	19,588	$	18,688	$	23,966	$	21,572
Weighted average common shares outstanding:
Basic	30,786,684		30,859,596		30,899,583		30,934,092
Fully diluted	31,349,198		31,378,018		31,425,573		31,470,565
Earnings per share
Basic	$	0.63	$	0.60	$	0.77	$	0.69
Fully diluted	$	0.62	$	0.59	$	0.76	$	0.68