Parent company financial statements

12 Months Ended

Dec. 31, 2021

Condensed Financial Information Disclosure [Abstract]

Parent company financial statements

Parent company financial statements: 

The following information presents the condensed balance sheets, statements of operations, and cash flows of FB Financial Corporation as of December 31, 2021 and 2020 and for each of the years in the three-year period ended December 31, 2021.

	As of December 31,
Balance sheet	2021		2020
Assets
Cash and cash equivalents(1)	$	21,515	$	5,310
Equity securities, at fair value	—		1,173
Investment in subsidiaries(1)	1,427,784		1,378,347
Other assets	14,487		12,240
Goodwill	29		29
Total assets	$	1,463,815	$	1,397,099
Liabilities and shareholders' equity
Liabilities
Borrowings	$	30,930	$	106,299
Accrued expenses and other liabilities	283		(489)
Total liabilities	31,213		105,810
Shareholders' equity
Common stock	47,549		47,222
Additional paid-in capital	892,529		898,847
Retained earnings	486,666		317,625
Accumulated other comprehensive income	5,858		27,595
Total shareholders' equity	1,432,602		1,291,289
Total liabilities and shareholders' equity	$	1,463,815	$	1,397,099

(1) Eliminates in Consolidation

	For the years ended December 31,
Income Statements	2021		2020		2019
Income
Dividend income from bank subsidiary(1)	$	122,500	$	49,706	$	—
Dividend income from nonbank subsidiary(1)	2,525		—		—
Gain on investments	249		217		—
Loss on other assets	—		—		(16)
Other income	15		1,732		211
Total income	125,289		51,655		195
Expenses
Interest expense	2,455		3,122		1,638
Salaries, legal and professional fees	1,445		1,458		1,056
Other noninterest expense	1,812		283		120
Total expenses	5,712		4,863		2,814
Income (loss) before income tax benefit and equity in undistributed     earnings of subsidiaries	119,577		46,792		(2,619)
Federal and state income tax benefit	(2,992)		(1,155)		(683)
Income (loss) before equity in undistributed earnings of subsidiaries	122,569		47,947		(1,936)
Equity in undistributed earnings from bank subsidiary(1)	68,351		15,168		85,750
Equity in undistributed earnings from nonbank subsidiary(1)	$	(635)	$	506	$	—
Net income	$	190,285	$	63,621	$	83,814

(1) Eliminates in Consolidation

	For the years ended December 31,
Statement of Cash Flows	2021		2020		2019
Operating Activities
Net income	$	190,285	$	63,621	$	83,814
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed income of bank subsidiary	(68,351)		(15,168)		(85,750)
Equity in undistributed income of nonbank subsidiary	635		(506)		—
Gain on investments	(249)		(217)		—
Loss on other assets	—		—		16
Stock-based compensation expense	10,282		10,214		7,089
(Increase) decrease in other assets	(3,916)		(9,717)		1,056
Decrease in other liabilities	(10,836)		(13,363)		(9,711)
Net cash provided by (used in) operating activities	117,850		34,864		(3,486)
Investing Activities
Net cash paid in business combinations (See Note 2)	—		(35,505)		—
Proceeds from sale of equity securities	1,422		—		—
Net cash provided by (used in) investing activities	1,422		(35,505)		—
Financing Activities
Accretion of interest rate premium on subordinated debt	(369)		(436)		—
Payment of dividends	(21,583)		(14,264)		(10,045)
Payments on subordinated debt	(60,000)		—		—
Payments on other borrowings	(15,000)		—		—
Proceeds from other borrowings	—		15,000		—
Net proceeds from sale of common stock	1,480		978		804
Repurchase of Common Stock	(7,595)		—		—
Net cash (used in) provided by financing activities	(103,067)		1,278		(9,241)
Net increase (decrease) in cash and cash equivalents	16,205		637		(12,727)
Cash and cash equivalents at beginning of year	5,310		4,673		17,400
Cash and cash equivalents at end of year	$	21,515	$	5,310	$	4,673
Supplemental noncash disclosures:
Dividends declared not paid on restricted stock units	$	400	$	238	$	149
Noncash dividend from bank subsidiary	—		956		—
Noncash security distribution to bank subsidiary	2,646		—		—