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Segment Reporting | 9 Months Ended
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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, 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.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards 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