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Borrowings
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Borrowings Borrowings
The Company has access to various sources of funds that allow for management of interest rate exposure and liquidity. The following table summarizes the Company's outstanding borrowings and weighted average interest rates as of December 31, 2024 and 2023:
Outstanding BalanceWeighted Average Interest Rate
December 31,December 31,
2024 2023 2024 2023 
Securities sold under agreements to repurchase
    and federal funds purchased 		$13,499 $108,764 0.20 %5.05 %
Bank Term Funding Program— 130,000 — %4.85 %
Subordinated debt, net130,704 129,645 5.28 %5.52 %
Other borrowings32,586 22,555 0.07 %0.10 %
            Total$176,789 $390,964 
Securities sold under agreements to repurchase and federal funds purchased
Securities sold under agreements to repurchase are financing arrangements that mature daily. Securities sold under agreements to repurchase totaled $13,499 and $19,328 as of December 31, 2024 and 2023, respectively. The weighted average interest rate of the Company's securities sold under agreements to repurchase was 0.20% and 1.60% as of December 31, 2024 and 2023, respectively. The fair value of securities pledged to secure repurchase agreements may decline. The Company manages this risk by having a policy to pledge securities valued at 100% of the outstanding balance of repurchase agreements.
The Bank maintains lines with certain correspondent banks that provide borrowing capacity in the form of federal funds purchased. Federal funds purchased are short-term borrowings that typically mature within one to ninety days. As of December 31, 2024 and 2023, the aggregate total borrowing capacity under these lines amounted to $370,000. As of December 31, 2023, borrowings against these lines (i.e., federal funds purchased) totaled $89,436 with a weighted average rate of 5.79%. There were no such borrowings outstanding as of December 31, 2024.
Information concerning securities sold under agreement to repurchase and federal funds purchased is summarized as follows:
December 31, 2024December 31, 2023
Balance at year end$13,499 $108,764 
Average daily balance during the year21,339 29,860 
Average interest rate during the year1.72 %2.24 %
Maximum month-end balance during the year$78,228 $116,220 
Weighted average interest rate at year-end0.20 %5.05 %
Federal Home Loan Bank Advances
As a member of the FHLB, the Company may utilize advances from the FHLB in order to provide additional liquidity and funding. Under these short-term agreements, the Company maintains a line of credit that as of December 31, 2024 and 2023 had total borrowing capacity of $1,397,905 and $1,757,702, respectively. As of December 31, 2024 and 2023, the Company had qualifying loans pledged as collateral securing these lines amounting to $2,608,687 and $3,014,023, respectively. There were no FHLB advances outstanding as of December 31, 2024 or December 31, 2023.
Information concerning FHLB advances as of or for the years ended December 31, 2024 and 2023 is summarized within the table below.
December 31, 2024December 31, 2023
Balance at year end$— $— 
Average daily balance during the year— 28,973 
Average interest rate during the year— %5.13 %
Maximum month-end balance during the year$— $125,000 
Weighted average interest rate at year-end— %— %
Bank Term Funding Program
In March 2023, the Federal Reserve established the Bank Term Funding Program to make available funding to eligible depository institutions in order to help ensure they have the ability to meet the needs of their depositors following the March 2023 high-profile bank failures. The program allows for advances for up to one year secured by eligible high-quality securities at par value extended at the one-year overnight index swap rate, plus 10 basis points, as of the day the advance is made. The interest rate is fixed for the term of the advance and there are no prepayment penalties. The BTFP ceased extending new borrowings on March 11, 2024.
At December 31, 2023, the Company had outstanding borrowings of $130,000 under the BTFP at a borrowing rate of 4.85% and a maturity date of December 26, 2024. During the year ended December 31, 2024, we repaid the $130,000 borrowings in full. There were no such borrowings outstanding as of December 31, 2024.
Information concerning the BTFP as of or for the years ended December 31, 2024 and 2023 is summarized within the table below.
December 31, 2024December 31, 2023
Balance at year end$— $130,000 
Average daily balance during the year95,902 1,781 
Average interest rate during the year4.86 %4.85 %
Maximum month-end balance during the year$130,000 $130,000 
Weighted average interest rate at year-end— %4.85 %
Subordinated Debt
During the year ended December 31, 2003, two separate trusts were formed by the Company, which issued $9,000 and $21,000 of floating rate trust preferred securities as part of a pooled offering of such securities. The Company issued junior subordinated debentures of $9,280, which included proceeds of common securities purchased by the Company of $280, and junior subordinated debentures of $21,650, which included proceeds of common securities of $650. The trusts were created for the sole purpose of issuing 30-year capital trust preferred securities to fund the purchase of junior subordinated debentures issued by the Company. Both issuances were to the trusts in exchange for the proceeds of the securities offerings, which represent the sole asset of the trusts.
Additionally, during the year ended December 31, 2020, the Company placed $100,000 of ten year fixed-to-floating rate subordinated notes, maturing September 1, 2030. The Company mitigated interest rate exposure associated with these notes through the use of fair value hedging instruments. The fair value hedge matured during the year ended December 31, 2024. See Note 15, "Derivatives" for additional details related to these instruments.
Further information related to the Company's subordinated debt as of December 31, 2024 is detailed below:
Name Year EstablishedMaturity Call DateTotal Debt Outstanding Interest Rate Coupon Structure
Subordinated Debt issued by Trust Preferred Securities:
FBK Trust I (1)
200306/09/2033
6/09/2008
$9,280 7.84%
3-month SOFR plus 3.51%
FBK Trust II (1)
200306/26/2033
6/26/2008
21,650 7.74%
3-month SOFR plus 3.41%
Additional Subordinated Debt:
FBK Subordinated Debt I(2)
202009/01/2030
9/1/2025
100,000 4.50%
Semi-annual Fixed (3)
  Unamortized debt issuance costs(226)
Total Subordinated Debt, net$130,704 
(1)The Company classifies $30,000 of the trusts' subordinated debt as Tier 1 capital.
(2)The Company classifies the issuance, net of unamortized issuance costs as Tier 2 capital, which will be phased out 20% per year in the final five
     years before maturity. 
(3)Beginning on September 1, 2025 the coupon structure migrates to the 3-month SOFR plus a spread of 439 basis points through the end of the term
     of the debenture.
Other Borrowings
As of December 31, 2024 and 2023, other borrowings included a finance lease liability amounting to $1,229 and $1,326, respectively. Additionally, as of December 31, 2024 and 2023, the Company had $31,357 and $21,229, respectively, of government guaranteed GNMA loans that meet certain defined delinquency rates under their contractual terms that were eligible for optional repurchase and recorded in both loans HFS and other borrowings.
See Note 7, “Leases” and Note 16, “Fair Value of financial instruments” for additional information regarding the Company's finance lease and guaranteed GNMA loans eligible for repurchase, respectively.