Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2022

Schedule of Direct-to-Consumer Channel Volume

nterest rate lock commitment volume and sales volume by line of business for the three and nine months ended September 30, 2022 and 2021 is as follows:


	Three months ended September 30,						Nine months ended September 30,
	2022			2021			2022			2021
Interest rate lock commitment volume by line of business:
Direct-to-consumer	$	—		$	1,085,180		$	663,848		$	2,948,530
Retail	408,879			926,723			1,755,008			2,726,956
Total	$	408,879		$	2,011,903		$	2,418,856		$	5,675,486
Interest rate lock commitment volume % by line of business:
Direct-to-consumer	—		%	53.9		%	27.4		%	52.0		%
Retail	100.0		%	46.1		%	72.6		%	48.0		%
Mortgage sales by line of business:
Direct-to-consumer	$	48,490		$	809,887		$	1,024,838		$	2,562,681
Retail	521,165			726,010			1,698,987			2,226,795
Total	$	569,655		$	1,535,897		$	2,723,825		$	4,789,476
Mortgage sales % by line of business:
Direct-to-consumer	8.5		%	52.7		%	37.6		%	53.5		%
Retail	91.5		%	47.3		%	62.4		%	46.5		%

Schedule of Segment Financial Information

The following tables provide segment financial information for the periods indicated:


Three Months Ended September 30, 2022	Banking(4)		Mortgage		Consolidated
Net interest income	$	111,384	$	—	$	111,384
Provisions for credit losses(1)	11,367		—		11,367
Mortgage banking income(2)	—		16,729		16,729
Change in fair value of mortgage servicing rights, net of hedging(2)	—		(4,345)		(4,345)
Other noninterest income	10,293		(85)		10,208
Depreciation and amortization	1,867		190		2,057
Amortization of intangibles	1,108		—		1,108

Other noninterest expense	62,911		15,771		78,682
Income (loss) before income taxes	$	44,424	$	(3,662)	$	40,762
Income tax expense					8,931
Net income applicable to FB Financial Corporation and noncontrolling interest					31,831
Net income applicable to noncontrolling interest(3)					—
Net income applicable to FB Financial Corporation					$	31,831
Total assets	$	11,648,610	$	609,472	$	12,258,082
Goodwill	242,561		—		242,561

(1)Includes $3,178 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.


Three Months Ended September 30, 2021	Banking(3)		Mortgage		Consolidated
Net interest income	$	88,576	$	(100)	$	88,476
Provisions for credit losses(1)	(2,531)		—		(2,531)
Mortgage banking income(2)	—		47,751		47,751
Change in fair value of mortgage servicing rights, net of hedging(2)	—		(2,367)		(2,367)
Other noninterest income	13,823		(201)		13,622
Depreciation and amortization	1,791		349		2,140
Amortization of intangibles	1,344		—		1,344

Other noninterest expense	55,642		35,881		91,523
Income before income taxes	$	46,153	$	8,853	$	55,006
Income tax expense					9,716
Net income applicable to FB Financial Corporation and noncontrolling interest					45,290
Net income applicable to noncontrolling interest(3)					—
Net income applicable to FB Financial Corporation					$	45,290
Total assets	$	10,712,281	$	1,098,009	$	11,810,290
Goodwill	242,561		—		242,561

(1) Includes $301 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.


Nine Months Ended September 30, 2022	Banking(4)		Mortgage		Consolidated
Net interest income	$	301,739	$	(2)	$	301,737
Provisions for credit losses(1)	19,438		—		19,438
Mortgage banking income(2)	—		69,718		69,718
Change in fair value of mortgage servicing rights, net of hedging(2)	—		(5,244)		(5,244)
Other noninterest income	32,975		(251)		32,724
Depreciation and amortization	5,308		797		6,105
Amortization of intangibles	3,546		—		3,546

Other noninterest expense(3)	175,936		82,529		258,465
Income (loss) before income taxes	$	130,486	$	(19,105)	$	111,381
Income tax expense					24,961
Net income applicable to FB Financial Corporation and noncontrolling interest					86,420
Net income applicable to noncontrolling interest(4)					8
Net income applicable to FB Financial Corporation					$	86,412
Total assets	$	11,648,610	$	609,472	$	12,258,082
Goodwill	242,561		—		242,561

(1) Includes $9,197 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 $12,458 in Mortgage restructuring expenses in the Mortgage segment related to the exit from the direct-to-consumer delivery channel.

(4) Banking segment includes noncontrolling interest.


Nine Months Ended September 30, 2021	Banking(3)		Mortgage		Consolidated
Net interest income	$	257,726	$	(111)	$	257,615
Provisions for credit losses(1)	(30,224)		—		(30,224)
Mortgage banking income(2)	—		146,990		146,990
Change in fair value of mortgage servicing rights, net of hedging(2)	—		(10,775)		(10,775)
Other noninterest income	39,223		(402)		38,821
Depreciation and amortization	5,267		1,021		6,288
Amortization of intangibles	4,178		—		4,178

Other noninterest expense(3)	163,261		108,938		272,199
Income before income taxes	$	154,467	$	25,743	$	180,210
Income tax expense					38,744


Net income applicable to FB Financial Corporation and noncontrolling interest					141,466
Net income applicable to noncontrolling interest(3)					8
Net income applicable to FB Financial Corporation					$	141,458
Total assets	$	10,712,281	$	1,098,009	$	11,810,290
Goodwill	242,561		—		242,561

(1)Includes $(2,875) 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.

The