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Segment Reporting
 9 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
Segment Reporting Segment reporting
The Company and the Bank are engaged in the business of banking and provide a full range of financial services. The Company determines reportable segments based on the significance of the segment’s operating results to the overall Company, the products and services offered, customer characteristics, processes and service delivery of the segments and the regular financial performance review and allocation of resources by the Chief Executive Officer, the Company’s chief operating decision maker. The Company has identified two distinct reportable segments—Banking and Mortgage. The Company’s primary segment is Banking, which provides a full range of deposit and lending products and services to corporate, commercial and consumer customers. The Company also originates conforming residential mortgage loans through its Mortgage segment, whose activities also include the servicing of residential mortgage loans and securitization of loans to third party private investors or government sponsored agencies.
Beginning in 2024, the Company began assigning a transfer rate to allocate net interest income to products and business segments. The intent of the transfer rate methodology is to transfer interest rate risk among the segments and allow management to better measure the net interest margin contribution of its assets/liabilities by segment. Changes in management structure or allocation methodologies and procedures result in changes in reported segment financial data. Prior period results have been adjusted to conform to the current methodology.
The following tables present selected financial information with respect to the Company’s reportable segments for the three and nine months ended September 30, 2024 and 2023.
Three Months Ended September 30, 2024BankingMortgageConsolidated
Net interest income$104,335 $1,682 $106,017 
Provisions for credit losses 1,861 53 1,914 
Mortgage banking income— 16,043 16,043 
Change in fair value of mortgage servicing rights, net of hedging(1)
— (4,490)(4,490)
Other noninterest (loss) income(28,370)320 (28,050)
Depreciation and amortization3,141 114 3,255 
Amortization of intangibles719 — 719 
Other noninterest mortgage banking expense— — — 
Other noninterest expense59,425 12,813 72,238 
Income before income taxes$10,819 $575 $11,394 
Income tax expense1,174 
Net income applicable to FB Financial Corporation and noncontrolling
interest
10,220 
Net income applicable to noncontrolling interest— 
Net income applicable to FB Financial Corporation$10,220 
Total assets$12,337,135 $583,087 $12,920,222 
Goodwill242,561 — 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.


Three Months Ended September 30, 2023BankingMortgageConsolidated
Net interest income$99,359 $1,567 $100,926 
Provisions for (reversals of) credit losses 3,253 (432)2,821 
Mortgage banking income— 15,722 15,722 
Change in fair value of mortgage servicing rights, net of hedging(1)
— (3,724)(3,724)
Other noninterest (loss) income(4,031)75 (3,956)
Depreciation and amortization2,514 167 2,681 
Amortization of intangibles889 — 889 
Other noninterest mortgage banking expense— — — 
Other noninterest expense65,309 14,118 79,427 
Income (loss) before income taxes$23,363 $(213)$23,150 
Income tax expense3,975 
Net income applicable to FB Financial Corporation and noncontrolling
interest
19,175 
Net income applicable to noncontrolling interest— 
Net income applicable to FB Financial Corporation$19,175 
Total assets$11,904,608 $585,023 $12,489,631 
Goodwill242,561 — 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.
Nine Months Ended September 30, 2024
Banking(2)
MortgageConsolidated
Net interest income$303,990 $4,132 $308,122 
Provisions for (reversals of) credit losses 5,131 (211)4,920 
Mortgage banking income— 47,915 47,915 
Change in fair value of mortgage servicing rights, net of hedging(1)
— (11,867)(11,867)
Other noninterest (loss) income(19,687)712 (18,975)
Depreciation and amortization8,594 363 8,957 
Amortization of intangibles2,260 — 2,260 
Other noninterest expense175,104 37,404 212,508 
Income before income taxes$93,214 $3,336 $96,550 
Income tax expense18,393 
Net income applicable to FB Financial Corporation and noncontrolling
interest
78,157 
Net income applicable to noncontrolling interest(2)
8 
Net income applicable to FB Financial Corporation$78,149 
Total assets$12,337,135 $583,087 $12,920,222 
Goodwill242,561 — 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.




Nine Months Ended September 30, 2023
Banking(2)
MortgageConsolidated
Net interest income$301,438 $4,691 $306,129 
Provisions for (reversals of) credit losses 2,316 (82)2,234 
Mortgage banking income— 47,669 47,669 
Change in fair value of mortgage servicing rights, net of hedging(1)
— (11,353)(11,353)
Other noninterest income (loss)18,942 (54)18,888 
Depreciation and amortization6,783 578 7,361 
Amortization of intangibles2,819 — 2,819 
Other noninterest expense192,070 42,479 234,549 
Income (loss) before income taxes$116,392 $(2,022)$114,370 
Income tax expense23,507 
Net income applicable to FB Financial Corporation and noncontrolling
interest
90,863 
Net income applicable to noncontrolling interest(2)
8 
Net income applicable to FB Financial Corporation$90,855 
Total assets$11,904,608 $585,023 $12,489,631 
Goodwill242,561 — 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.