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Segment Reporting
 12 Months Ended
Dec. 31, 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 include the servicing of residential mortgage loans and securitization of loans to third party private investors or government sponsored agencies.
The chief operating decision maker uses income before income taxes as the measure of segment profit or loss to assess the performance of and allocate resources to each segment. Interest income provides the primary revenue in the Banking segment, and mortgage banking income provides the primary revenue in the Mortgage segment. Interest expense, provision for credit losses, and salaries, commissions and employee benefits provide the significant expenses in the Banking segment, and salaries, commissions and employee benefits provide the significant expenses in the Mortgage segment. These figures are regularly provided to the chief operating decision maker and are monitored through budget-to-actual variance review.
Beginning in 2024, the Company began assigning a transfer rate to allocate net interest income to products and business segments. Through this process, the Company formulates a loan funding charge and a deposit funding credit for its entire loan and deposit portfolios. 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 products and business segments. 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 years ended December 31, 2024, 2023, and 2022.
Year Ended December 31, 2024
Banking(2)
MortgageConsolidated
Interest income$726,033 $(495)$725,538 
Interest expense315,250 (6,215)309,035 
Net interest income410,783 5,720 416,503 
Provisions for (reversals of) credit losses 12,264 (260)12,004 
Net interest income after provision for credit losses398,519 5,980 404,499 
Mortgage banking income— 62,912 62,912 
Change in fair value of mortgage servicing rights, net of hedging(1)
— (16,278)(16,278)
Other noninterest (loss) income(8,376)812 (7,564)
Total noninterest (loss) income(8,376)47,446 39,070 
Salaries, commissions and employee benefits154,411 29,402 183,813 
Depreciation and amortization11,541 425 11,966 
Amortization of intangibles2,947 — 2,947 
Other noninterest expense(3)
78,172 20,001 98,173 
Total noninterest expense247,071 49,828 296,899 
Income before income taxes$143,072 $3,598 $146,670 
Income tax expense30,619 
Net income applicable to FB Financial Corporation and noncontrolling
interest
116,051 
Net income applicable to noncontrolling interest(2)
16 
Net income applicable to FB Financial Corporation$116,035 
Total assets$12,554,435 $603,047 $13,157,482 
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.
(3) Other noninterest expense for Banking includes expenses for occupancy and equipment expense, data processing, advertising, legal and professional fees and other expenses. Other noninterest expense for Mortgage includes expenses for occupancy and equipment expense, data processing, advertising, legal and professional fees, servicing expenses and other expenses.
Year Ended December 31, 2023
Banking(2)
MortgageConsolidated
Interest income$678,591 $(181)$678,410 
Interest expense277,342 (6,149)271,193 
Net interest income401,249 5,968 407,217 
Provisions for (reversals of) credit losses 2,599 (60)2,539 
Net interest income after provision for credit losses398,650 6,028 404,678 
Mortgage banking income— 60,918 60,918 
Change in fair value of mortgage servicing rights, net of hedging(1)
— (16,226)(16,226)
Other noninterest income25,831 20 25,851 
Total noninterest income25,831 44,712 70,543 
Salaries, commissions and employee benefits170,625 32,816 203,441 
Depreciation and amortization10,444 736 11,180 
Amortization of intangibles3,659 — 3,659 
Other noninterest expense(3)
85,407 21,242 106,649 
Total noninterest expense270,135 54,794 324,929 
Income (loss) before income taxes$154,346 $(4,054)$150,292 
Income tax expense30,052 
Net income applicable to FB Financial Corporation and noncontrolling
interest
120,240 
Net income applicable to noncontrolling interest(2)
16 
Net income applicable to FB Financial Corporation$120,224 
Total assets$12,050,245 $554,158 $12,604,403 
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.
(3) Other noninterest expense for Banking includes expenses for occupancy and equipment expense, data processing, advertising, legal and professional fees and other expenses. Other noninterest expense for Mortgage includes expenses for occupancy and equipment expense, data processing, advertising, legal and professional fees, servicing expenses and other expenses.
Year Ended December 31, 2022
Banking(2)
MortgageConsolidated
Interest income$470,430 $10,992 $481,422 
Interest expense71,405 (2,218)69,187 
Net interest income399,025 13,210 412,235 
Provisions for credit losses 18,982 — 18,982 
Net interest income after provision for credit losses380,043 13,210 393,253 
Mortgage banking income— 83,679 83,679 
Change in fair value of mortgage servicing rights, net of hedging(1)
— (10,099)(10,099)
Other noninterest income (loss)41,312 (225)41,087 
Total noninterest income41,312 73,355 114,667 
Salaries, commissions and employee benefits150,408 61,083 211,491 
Depreciation and amortization7,035 982 8,017 
Amortization of intangibles4,585 — 4,585 
Other noninterest expense(3)
63,248 61,005 124,253 
Total noninterest expense225,276 123,070 348,346 
Income (loss) before income taxes$196,079 $(36,505)$159,574 
Income tax expense35,003 
Net income applicable to FB Financial Corporation and noncontrolling
interest
124,571 
Net income applicable to noncontrolling interest(2)
16 
Net income applicable to FB Financial Corporation$124,555 
Total assets$12,232,849 $614,907 $12,847,756 
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.
(3) Other noninterest expense for Banking includes expenses for occupancy and equipment expense, data processing, advertising, legal and professional fees and other expenses. Other noninterest expense for Mortgage includes expenses for occupancy and equipment expense, data processing, advertising, legal and professional fees, servicing expenses, restructuring expenses and other expenses.