Mergers and acquisitions (Tables)

3 Months Ended

Mar. 31, 2020

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following tables present the preliminary fair values of assets acquired and liabilities assumed as of the February 14, 2020 acquisition date and an allocation of the consideration to net assets acquired:



	As of February 14, 2020
	As Recorded by FB Financial Corporation
Assets
Cash and cash equivalents	$	10,774
Securities	50,594
Loans, net of fair value adjustments	182,171
Allowance for credit losses on PCD loans	(669		)
Premises and equipment	8,021
Core deposit intangible	2,490
Other assets	4,809
Total assets	$	258,190
Liabilities
Deposits
Noninterest-bearing	$	63,531
Interest-bearing checking	26,451
Money market and savings	37,002
Customer time deposits	82,551
Total deposits	209,535
Borrowings	3,192
Accrued expenses and other liabilities	1,229
Total liabilities	213,956
Total net assets acquired	$	44,234



Consideration:
Net shares issued	954,797
Purchase price per share on February 14, 2020	$	36.70
Value of stock consideration			$	35,041
Cash consideration paid			15,001
Total purchase price			$	50,042
FV of net assets acquired			44,234
Goodwill resulting from merger			$	5,808

Schedule of Consideration Paid and Allocation of Purchase Price to Net Assets Acquired



Consideration:
Net shares issued	954,797
Purchase price per share on February 14, 2020	$	36.70
Value of stock consideration			$	35,041
Cash consideration paid			15,001
Total purchase price			$	50,042
FV of net assets acquired			44,234
Goodwill resulting from merger			$	5,808

Schedule of Purchased Credit Deteriorated Credit Quality



	March 31
	2020
Purchased credit-deteriorated loans
Principal balance	$	18,964
Allowance for credit losses at acquisition	(669		)
Net premium attributable to other factors	63
Loans purchased credit-deteriorated fair value	$	18,358

Business Acquisition, Pro Forma Information

The pro forma information is not indicative of what would have occurred had the acquisition taken place on January 1, 2019 and does not include the effect of all cost-saving or revenue-enhancing strategies.



	Three months ended March 31,
	2020		2019
Net interest income	$	57,477	$	55,585
Total revenues	$	100,440	$	85,019
Net income	$	1,181	$	19,599