Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2024

Schedule of Segment Financial Information

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, 2024	Banking		Mortgage		Consolidated
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 amortization	3,141		114		3,255
Amortization of intangibles	719		—		719
Other noninterest mortgage banking expense	—		—		—
Other noninterest expense	59,425		12,813		72,238
Income before income taxes	$	10,819	$	575	$	11,394
Income tax expense					1,174
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
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.


Three Months Ended September 30, 2023	Banking		Mortgage		Consolidated
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 amortization	2,514		167		2,681
Amortization of intangibles	889		—		889
Other noninterest mortgage banking expense	—		—		—
Other noninterest expense	65,309		14,118		79,427
Income (loss) before income taxes	$	23,363	$	(213)	$	23,150
Income tax expense					3,975
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
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.


Nine Months Ended September 30, 2024	Banking(2)		Mortgage		Consolidated
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 amortization	8,594		363		8,957
Amortization of intangibles	2,260		—		2,260

Other noninterest expense	175,104		37,404		212,508
Income before income taxes	$	93,214	$	3,336	$	96,550
Income tax expense					18,393
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
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.


Nine Months Ended September 30, 2023	Banking(2)		Mortgage		Consolidated
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 amortization	6,783		578		7,361
Amortization of intangibles	2,819		—		2,819

Other noninterest expense	192,070		42,479		234,549
Income (loss) before income taxes	$	116,392	$	(2,022)	$	114,370
Income tax expense					23,507


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
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.