XML 21 R9.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net income attributable to FB Financial Corporation and noncontrolling interest $ 67,937 $ 71,688
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of fixed assets and software 5,702 4,680
Amortization of core deposit and other intangibles 1,541 1,930
Amortization of issuance costs on subordinated debt 193 194
Capitalization of mortgage servicing rights (2,649) (4,061)
Net change in fair value of mortgage servicing rights 2,393 5,993
Stock-based compensation expense 4,910 5,533
Provision for credit losses on loans HFI 5,792 7,572
Reversal of credit losses on unfunded commitments (2,786) (8,159)
Provision for (reversal of) mortgage loan repurchases 125 (450)
Accretion of discounts and premiums on acquired loans, net (548) (305)
Amortization of premiums and discounts on securities, net 2,440 2,691
Loss (gain) from investment securities, net 16,213 (41)
Originations of loans held for sale (595,813) (641,962)
Proceeds from sale of loans held for sale 575,246 679,456
Gain on sale and change in fair value of loans held for sale (17,209) (17,495)
Net gain on write-downs of other real estate owned and other assets (284) (350)
Provision for deferred income taxes (47) 2,629
Earnings on bank-owned life insurance (2,911) (983)
Changes in:    
Operating lease assets and liabilities, net (539) 1,033
Other assets and interest receivable (1,765) (2,727)
Accrued expenses and other liabilities 8,950 (250)
Net cash provided by operating activities 66,891 106,616
Activity in available-for-sale securities:    
Sales 207,882 0
Maturities, prepayments and calls 134,236 58,415
Purchases (366,579) (905)
Net change in loans 94,773 (15,832)
Proceeds from sales of FHLB stock, net 1,160 18,375
Purchases of premises and equipment (3,861) (12,576)
Proceeds from the sale of premises and equipment 287 0
Proceeds from the sale of other real estate owned 1,434 5,155
Proceeds from the sale of other assets 550 775
Proceeds from bank-owned life insurance 0 236
Net cash provided by investing activities 69,882 53,643
Cash flows from financing activities:    
Net (decrease) increase in deposits (84,782) 15,489
Net (decrease) increase in securities sold under agreements to repurchase and federal funds purchased (31,963) 29,275
Net decrease in short-term FHLB advances 0 (50,000)
Share based compensation withholding payments (1,683) (2,921)
Net proceeds from sale of common stock under employee stock purchase program 399 321
Repurchase of common stock (12,699) (4,944)
Dividends paid on common stock (15,916) (14,011)
Dividend equivalent payments made upon vesting of equity compensation (151) (158)
Noncontrolling interest distribution (8) (8)
Net cash used in financing activities (146,803) (26,957)
Net change in cash and cash equivalents (10,030) 133,302
Cash and cash equivalents at beginning of the period 810,932 1,027,052
Cash and cash equivalents at end of the period 800,902 1,160,354
Supplemental cash flow information:    
Interest paid 150,100 116,211
Taxes paid, net 20,134 29,338
Supplemental noncash disclosures:    
Transfers from loans to other real estate owned 2,400 593
Transfers from loans to other assets 1,831 1,391
Transfers from loans to loans held for sale 167 10,545
Transfers from loans held for sale to loans 40 2,755
Loans provided for sales of other assets 416 424
Increase (decrease) in rebooked GNMA loans under optional repurchase program 1,125 (5,986)
Dividends declared not paid on restricted stock units and performance stock units 183 158
Right-of-use assets obtained in exchange for operating lease liabilities $ 0 $ 3,477