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Segment reporting
 12 Months Ended
Dec. 31, 2021
Segment Reporting [Abstract]  
Segment reporting Segment reporting:
The Company and the Bank are engaged in the business of banking and provide a full range of financial services. The Company determines reportable segments based on the significance of the segment’s operating results to the overall Company, the products and services offered, customer characteristics, processes and service delivery of the segments and the regular financial performance review and allocation of resources by the Chief Executive Officer, the Company’s chief operating decision maker. The Company has identified two distinct reportable segments—Banking and Mortgage. The Company’s primary segment is Banking, which provides a full range of deposit and lending products and services to corporate, commercial and consumer customers. The Company offers full-service conforming residential mortgage products, including conforming residential loans and services through two distinct delivery channels: retail and ConsumerDirect. Additionally, the Mortgage segment includes the servicing of residential mortgage loans and the packaging and securitization of loans to governmental agencies. The Company’s mortgage division represents a distinct reportable segment which differs from the Company’s primary business of commercial and retail banking.
As previously reported, during the three months ended March 31, 2021, the Company re-evaluated its business segments and revised to align all mortgage activities with the Mortgage segment. Previously, the Company had attributed retail mortgage activities originating from geographical locations within the footprint of the Company's branches to the Banking segment. Results for the comparable prior periods have been revised to reflect this realignment. The impact of this change on previously reported segment results was the reclassification of mortgage retail footprint total net contribution of $26,416 and $7,213 from the Banking segment to the Mortgage segment for the years ended December 31, 2020 and 2019, respectively.
The financial performance of the Mortgage segment is assessed based on results of operations reflecting direct revenues and expenses and allocated expenses. This approach gives management a better indication of the operating performance of the segment. When assessing the Banking segment’s financial performance, the CEO utilizes reports with indirect revenues and expenses including but not limited to the investment portfolio, electronic delivery channels and areas that primarily support the banking segment operations. Therefore, these are included in the results of the Banking segment. Other indirect revenue and expenses related to general administrative areas are also included in the internal financial results reports of the Banking segment utilized by the CEO for analysis and are thus included for Banking segment reporting. The Mortgage segment utilizes funding sources from the Banking segment in order to fund mortgage loans that are ultimately sold on the secondary market. The Mortgage segment uses the proceeds from loan sales to repay obligations due to the Banking segment.
During the first quarter of 2019, the Company's Board of Directors approved management's strategic plan to exit its wholesale mortgage delivery channels. On June 7, 2019, the Company completed the sale of its third party origination channel and on August 1, 2019, the Company completed the sale of its correspondent channel. The Mortgage segment incurred $1,995 in restructuring and miscellaneous charges, during the year ended December 31, 2019, related to these sales. The restructuring charges include a one-time charge of $100 in relief of goodwill associated with the TPO channel.
The following tables provide segment financial information for years ended December 31, 2021, 2020, and 2019 as follows:
Year Ended December 31, 2021BankingMortgageConsolidated
Net interest income$347,342 $28 $347,370 
Provisions for credit losses(1)
(40,993)— (40,993)
Mortgage banking income(2)
— 179,682 179,682 
Change in fair value of mortgage servicing rights, net of hedging(2)
— (12,117)(12,117)
Other noninterest income61,073 (383)60,690 
Depreciation and amortization7,054 1,362 8,416 
Amortization of intangibles5,473 — 5,473 
Other noninterest expense220,283 139,395 359,678 
Income before income taxes$216,598 $26,453 $243,051 
Income tax expense52,750 
Net income applicable to FB Financial Corporation and noncontrolling
interest
190,301 
Net income applicable to noncontrolling interest(3)
16 
Net income applicable to FB Financial Corporation$190,285 
Total assets$11,540,560 $1,057,126 $12,597,686 
Goodwill242,561 — 242,561 
(1)Included $(1,998) in provision for credit losses on unfunded commitments.
(2)Change in fair value of mortgage servicing rights, net of hedging is included in mortgage banking income in the Company's consolidated statements of income.
(3)Banking segment includes noncontrolling interest.
Year Ended December 31, 2020BankingMortgageConsolidated
Net interest income$265,581 $77 $265,658 
Provisions for credit losses(1)
107,967 — 107,967 
Mortgage banking income(2)
— 289,702 289,702 
Change in fair value of mortgage servicing rights, net of hedging(2)
— (34,374)(34,374)
Other noninterest income46,527 — 46,527 
Depreciation and amortization6,425 1,111 7,536 
Amortization of intangibles5,323 — 5,323 
Other noninterest expense(3)
212,890 151,336 364,226 
(Loss) income before income taxes$(20,497)$102,958 $82,461 
Income tax expense18,832 
Net income applicable to FB Financial Corporation and noncontrolling
interest
63,629 
Net income applicable to noncontrolling interest(4)
8 
Net income applicable to FB Financial Corporation$63,621 
Total assets$10,254,324 $953,006 $11,207,330 
Goodwill242,561 — 242,561 
(1)Includes $13,361 in provision for credit losses on unfunded commitments.
(2)Change in fair value of mortgage servicing rights, net of hedging is included in mortgage banking income in the Company's consolidated statements of income.
(3)Includes $33,824 of merger costs in the Banking segment related to the Farmers National acquisition and the Franklin merger and $1,055 of merger costs in the Mortgage segment related to the Franklin merger.
(4)Banking segment includes noncontrolling interest.
Year Ended December 31, 2019BankingMortgageConsolidated
Net interest income$226,098 $(62)$226,036 
Provisions for loan losses7,053 — 7,053 
Mortgage banking income(1)
— 117,905 117,905 
Change in fair value of mortgage servicing rights, net of hedging(1)
— (16,989)(16,989)
Other noninterest income34,481 — 34,481 
Depreciation and amortization4,594 582 5,176 
Amortization of intangibles4,339 — 4,339 
Other noninterest expense(2)
144,734 90,592 235,326 
 Income before income taxes$99,859 $9,680 $109,539 
Income tax expense25,725 
Net income applicable to FB Financial Corporation$83,814 
Total assets$5,700,558 $424,363 $6,124,921 
Goodwill169,051 — 169,051 
1.Change in fair value of mortgage servicing rights, net of hedging is included in mortgage banking income in the Company's consolidated statements of income.
2.Includes $5,385 in merger costs in the Banking segment related to the Atlantic Capital branch acquisition and $1,995 in mortgage restructuring charges in the Mortgage segment.
Our Banking segment provides our Mortgage segment with a warehouse line of credit that is used to fund mortgage loans held for sale. The warehouse line of credit, which is eliminated in consolidation, is limited based on interest income earned by the Mortgage segment. The amount of interest paid by our Mortgage segment to our Banking segment under this warehouse line of credit is recorded as interest income to our Banking segment and as interest expense to our Mortgage segment, both of which are included in the calculation of net interest income for each segment. The amount of interest paid by our Mortgage segment to our Banking segment under this warehouse line of credit was $23,910, $14,810 and $11,183 for the years ended December 31, 2021, 2020, and 2019, respectively.