Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Segment Financial Information

The following tables present selected financial information with respect to the Company's reportable segments for the years ended December 31, 2023, 2022, and 2021.


Year Ended December 31, 2023	Banking(2)		Mortgage		Consolidated
Net interest income	$	407,217	$	—	$	407,217
Provisions for credit losses	2,539		—		2,539
Mortgage banking income	—		60,918		60,918
Change in fair value of mortgage servicing rights, net of hedging(1)	—		(16,226)		(16,226)
Other noninterest income	25,831		20		25,851
Depreciation and amortization	10,444		736		11,180
Amortization of intangibles	3,659		—		3,659

Other noninterest expense	262,433		47,657		310,090
Income (loss) before income taxes	$	153,973	$	(3,681)	$	150,292
Income tax expense					30,052
Net income applicable to FB Financial Corporation and noncontrolling interest					120,240
Net income applicable to noncontrolling interest(2)					16
Net income applicable to FB Financial Corporation					$	120,224
Total assets	$	12,046,190	$	558,213	$	12,604,403
Goodwill	242,561		—		242,561

(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) Banking segment includes noncontrolling interest.


Year Ended December 31, 2022	Banking(3)		Mortgage		Consolidated
Net interest income	$	412,237	$	(2)	$	412,235
Provisions for credit losses	18,982		—		18,982
Mortgage banking income	—		83,679		83,679
Change in fair value of mortgage servicing rights, net of hedging(1)	—		(10,099)		(10,099)
Other noninterest income	41,320		(233)		41,087
Depreciation and amortization	7,035		982		8,017
Amortization of intangibles	4,585		—		4,585

Other noninterest expense(2)	240,096		95,648		335,744
Income (loss) before income taxes	$	182,859	$	(23,285)	$	159,574
Income tax expense					35,003


Net income applicable to FB Financial Corporation and noncontrolling interest					124,571
Net income applicable to noncontrolling interest(3)					16
Net income applicable to FB Financial Corporation					$	124,555
Total assets	$	12,228,451	$	619,305	$	12,847,756
Goodwill	242,561		—		242,561

(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 $12,458 in Mortgage restructuring expenses in the Mortgage segment related to the exit from the direct-to-consumer internet delivery channel.

(3)Banking segment includes noncontrolling interest.


Year Ended December 31, 2021	Banking(2)		Mortgage		Consolidated
Net interest income	$	347,342	$	28	$	347,370
Provisions for credit losses	(40,993)		—		(40,993)
Mortgage banking income	—		179,682		179,682
Change in fair value of mortgage servicing rights, net of hedging(1)	—		(12,117)		(12,117)
Other noninterest income	61,073		(383)		60,690
Depreciation and amortization	7,054		1,362		8,416
Amortization of intangibles	5,473		—		5,473

Other noninterest expense	220,283		139,395		359,678
Income before income taxes	$	216,598	$	26,453	$	243,051
Income tax expense					52,750


Net income applicable to FB Financial Corporation and noncontrolling interest					190,301
Net income applicable to noncontrolling interest(2)					16
Net income applicable to FB Financial Corporation					$	190,285
Total assets	$	11,540,560	$	1,057,126	$	12,597,686
Goodwill	242,561		—		242,561

(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) Banking segment includes noncontrolling interest.