XML 46 R9.htm IDEA: XBRL DOCUMENT v3.23.3
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net income attributable to FB Financial Corporation and noncontrolling interest $ 90,863 $ 86,420
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of fixed assets and software 7,361 6,105
Amortization of core deposit and other intangibles 2,819 3,546
Amortization of issuance costs on subordinated debt 290 291
Capitalization of mortgage servicing rights (6,134) (19,523)
Net change in fair value of mortgage servicing rights 1,789 (36,392)
Stock-based compensation expense 8,317 8,153
Provision for credit losses on loans HFI 13,603 10,241
(Reversal of) provision for credit losses on unfunded commitments (11,369) 9,197
Provision for mortgage loan repurchases (650) (1,989)
(Accretion) amortization of discounts and premiums on acquired loans, net (617) 1,339
Amortization of premiums and accretion of discounts on securities, net 3,959 5,178
Loss from investment securities, net 14,156 401
Originations of loans held for sale (970,131) (2,129,129)
Repurchases of loans held for sale 0 (194)
Proceeds from sale of loans held for sale 1,013,584 2,796,313
Gain on sale and change in fair value of loans held for sale (25,847) (43,648)
Net (gain) loss on write-downs of other real estate owned and other assets (465) 13
Provision for deferred income taxes 1,660 15,879
Earnings on bank-owned life insurance (1,382) (1,099)
Changes in:    
Operating lease assets and liabilities, net 1,591 4,485
Other assets and interest receivable (14,596) (23,220)
Accrued expenses and other liabilities 7,911 51,583
Net cash provided by operating activities 136,712 743,950
Activity in available-for-sale securities:    
Sales 75,857 1,218
Maturities, prepayments and calls 91,361 170,701
Purchases (82,829) (242,639)
Net change in loans 21,419 (1,480,809)
Sales of FHLB stock 31,825 0
Purchases of FHLB stock (7,993) (26,370)
Purchases of premises and equipment (16,563) (6,060)
Proceeds from the sale of premises and equipment 105 875
Proceeds from the sale of other real estate owned 5,692 4,753
Proceeds from the sale of other assets 1,197 4
Proceeds from bank-owned life insurance 236 0
Net cash provided by (used in) investing activities 120,307 (1,578,327)
Cash flows from financing activities:    
Net decrease in deposits (219,798) (820,640)
Net decrease in securities sold under agreements to repurchase and federal funds purchased (12,240) (11,708)
Net (decrease) increase in short-term FHLB advances (175,000)  
Net (decrease) increase in short-term FHLB advances   540,000
Share based compensation withholding payments (3,243) (2,635)
Net proceeds from sale of common stock under employee stock purchase program 723 1,212
Repurchase of common stock (4,944) (32,743)
Dividends paid on common stock (21,026) (18,401)
Dividend equivalent payments made upon vesting of equity compensation (217) (150)
Noncontrolling interest distribution (8) (8)
Net cash used in financing activities (435,753) (345,073)
Net change in cash and cash equivalents (178,734) (1,179,450)
Cash and cash equivalents at beginning of the period 1,027,052 1,797,740
Cash and cash equivalents at end of the period 848,318 618,290
Supplemental cash flow information:    
Interest paid 185,513 31,322
Taxes paid, net 37,875 808
Supplemental noncash disclosures:    
Transfers from loans to other real estate owned 657 984
Transfers from loans to other assets 2,233 0
Transfers to other assets 75 0
Loans provided for sales of other assets 516 0
Transfers from loans to loans held for sale 11,351 42,997
Transfers from loans held for sale to loans 3,076 23,183
(Decrease) increase in rebooked GNMA loans under optional repurchase program (4,137) 26,485
Trade date payable - securities 10,930 0
Trade date receivable - securities 789 0
Dividends declared not paid on restricted stock units 241 173
Right-of-use assets obtained in exchange for operating lease liabilities $ 5,617 $ 24,605