Basis of presentation (Tables)

9 Months Ended

Sep. 30, 2020

Summary of Basic and Diluted Earnings Per Common Share

The following is a summary of the basic and diluted earnings per common share calculation for each of the periods presented:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Basic earnings per common share calculation:
Net (loss) income applicable to FB Financial Corporation	$	(5,599)	$	23,966	$	18,019	$	62,242
Dividends paid on and undistributed earnings allocated to participating securities	—		(128)		—		(333)
(Loss) earnings available to common shareholders	$	(5,599)	$	23,838	$	18,019	$	61,909
Weighted average basic shares outstanding	40,154,841		30,899,583		34,404,064		30,849,035
Basic (loss) earnings per common share	$	(0.14)	$	0.77	$	0.52	$	2.01
Diluted earnings per common share:
(Loss) earnings available to common shareholders	$	(5,599)	$	23,838	$	18,019	$	61,909
Weighted average basic shares outstanding	40,154,841		30,899,583		34,404,064		30,849,035
Weighted average diluted shares contingently issuable(1)	482,904		525,990		436,228		529,751
Weighted average diluted shares outstanding	40,637,745		31,425,573		34,840,292		31,378,786
Diluted (loss) earnings per common share(2)	$	(0.14)	$	0.76	$	0.52	$	1.97

(1)Excludes 332,347 and 536,908 restricted stock units outstanding considered to be antidilutive for the three and nine months ended September 30, 2020, respectively.

(2)Diluted EPS is calculated using the basic weighted average number of common shares outstanding for periods in which a loss is incurred.

Schedule of New Accounting Pronouncements and Changes in Accounting Principles

A summary of the impact to the consolidated balance sheet as of the adoption date is presented in the table below:


	Balance before adoption of ASC 326		Cumulative effective adjustment to adopt ASC 326		Impact of the adjustment to adopt ASC 326	Balance at January 1, 2020 (post ASC 326 adoption)
ASSETS:
Loans	$	4,409,642	$	558	Increase	$	4,410,200
Allowance for credit losses	(31,139)		(31,446)		Increase	(62,585)
Total impact to assets			$	(30,888)	Net decrease
LIABILITIES AND EQUITY:
Allowance for credit losses on unfunded commitments	$	—	$	2,947	Increase	$	2,947
Net deferred tax liability	20,490		(8,817)		Decrease	11,673
Retained earnings	293,524		(25,018)		Decrease	268,506
Total impact to liabilities and equity			$	(30,888)	Net decrease