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Segment Reporting
 3 Months Ended
Mar. 31, 2025
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.
The Company assigns 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 three months ended March 31, 2025 and 2024.
Three Months Ended March 31, 2025BankingMortgageConsolidated
Interest income$178,915 $791 $179,706 
Interest expense73,156 (1,091)72,065 
Net interest income105,759 1,882 107,641 
Provisions for credit losses 2,189 103 2,292 
Net interest income after provision for credit losses103,570 1,779 105,349 
Mortgage banking income— 15,495 15,495 
Change in fair value of mortgage servicing rights, net of hedging(1)
— (3,069)(3,069)
Other noninterest income (loss)10,660 (54)10,606 
Total noninterest income10,660 12,372 23,032 
Salaries, commissions and employee benefits41,469 6,882 48,351 
Depreciation and amortization2,743 24 2,767 
Amortization of intangibles656 — 656 
Other noninterest expense(2)
22,041 5,734 27,775 
Total noninterest expense66,909 12,640 79,549 
Income before income taxes$47,321 $1,511 $48,832 
Income tax expense9,471 
Net income applicable to FB Financial Corporation and noncontrolling
interest
39,361 
Net income applicable to noncontrolling interest— 
Net income applicable to FB Financial Corporation$39,361 
Total assets$12,490,097 $646,352 $13,136,449 
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) 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.
Three Months Ended March 31, 2024BankingMortgageConsolidated
Interest income$176,420 $(292)$176,128 
Interest expense77,958 (1,320)76,638 
Net interest income98,462 1,028 99,490 
Provisions for (reversals of) credit losses 838 (56)782 
Net interest income after provision for credit losses97,624 1,084 98,708 
Mortgage banking income— 15,626 15,626 
Change in fair value of mortgage servicing rights, net of hedging(1)
— (3,041)(3,041)
Other noninterest (loss) income(4,794)171 (4,623)
Total noninterest (loss) income(4,794)12,756 7,962 
Salaries, commissions and employee benefits37,790 6,828 44,618 
Depreciation and amortization2,708 133 2,841 
Amortization of intangibles789 — 789 
Other noninterest expense(2)
18,908 5,264 24,172 
Total noninterest expense60,195 12,225 72,420 
Income before income taxes$32,635 $1,615 $34,250 
Income tax expense6,300 
Net income applicable to FB Financial Corporation and noncontrolling
interest
27,950 
Net income applicable to noncontrolling interest— 
Net income applicable to FB Financial Corporation$27,950 
Total assets$11,979,904 $568,416 $12,548,320 
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) 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.