XML 34 R9.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net income attributable to FB Financial Corporation and noncontrolling interest $ 27,950 $ 36,381
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of fixed assets and software 2,841 2,228
Amortization of core deposit and other intangibles 789 990
Amortization of issuance costs on subordinated debt 96 97
Capitalization of mortgage servicing rights (1,131) (1,788)
Net change in fair value of mortgage servicing rights (294) 5,274
Stock-based compensation expense 2,820 2,285
Provision for credit losses on loans HFI 1,852 4,997
Reversal of credit losses on unfunded commitments (1,070) (4,506)
Provision for mortgage loan repurchases 50 (250)
Accretion of discounts and premiums on acquired loans, net (387) (319)
Amortization of premiums and discounts on securities, net 1,356 1,382
Loss (gain) from investment securities, net 16,213 (69)
Originations of loans held for sale (258,352) (295,760)
Proceeds from sale of loans held for sale 251,548 340,108
Gain on sale and change in fair value of loans held for sale (8,279) (8,635)
Net (gain) loss on write-downs of other real estate owned and other assets (565) 183
Provision for deferred income taxes 207 1,396
Earnings on bank-owned life insurance (431) (605)
Changes in:    
Operating lease assets and liabilities, net (207) 580
Other assets and interest receivable (665) 62,512
Accrued expenses and other liabilities 1,927 (48,099)
Net cash provided by operating activities 36,268 98,382
Activity in available-for-sale securities:    
Sales 207,882 0
Maturities, prepayments and calls 66,627 26,827
Purchases (281,579) (660)
Net change in loans 117,904 (52,540)
Proceeds from sales of FHLB stock, net 242 15,272
Purchases of premises and equipment (1,620) (9,450)
Proceeds from the sale of premises and equipment 137 0
Proceeds from the sale of other real estate owned 389 2,031
Proceeds from the sale of other assets 161 0
Proceeds from bank-owned life insurance 0 236
Net cash provided by (used in) investing activities 110,143 (18,284)
Cash flows from financing activities:    
Net (decrease) increase in deposits (47,856) 325,965
Net decrease in securities sold under agreements to repurchase and federal funds purchased (30,535) (48,815)
Net decrease in short-term FHLB advances and Bank Term Funding Program 0 (50,000)
Share based compensation withholding payments (626) (2,597)
Net proceeds from sale of common stock under employee stock purchase program 399 321
Repurchase of common stock 0 (4,944)
Dividends paid on common stock (7,965) (6,994)
Dividend equivalent payments made upon vesting of equity compensation (30) (135)
Net cash (used in) provided by financing activities (86,613) 212,801
Net change in cash and cash equivalents 59,798 292,899
Cash and cash equivalents at beginning of the period 810,932 1,027,052
Cash and cash equivalents at end of the period 870,730 1,319,951
Supplemental cash flow information:    
Interest paid 74,943 52,634
Taxes paid (refunded), net 277 (904)
Supplemental noncash disclosures:    
Transfers from loans to other real estate owned 753 235
Transfers from loans to other assets 1,031 0
Transfers from loans to loans held for sale 167 7,126
Transfers from loans held for sale to loans 40 776
Loans provided for sales of other assets 65 0
Decrease in rebooked GNMA loans under optional repurchase program (353) (5,683)
Trade date payable - securities 0 245
Dividends declared not paid on restricted stock units 87 48
Right-of-use assets obtained in exchange for operating lease liabilities $ 0 $ 3,375