FB Financial CorpFBK
FB Financial Corp Segments Disclosure
Segment reporting
The Company and the Bank are engaged in the business of banking and provide a full range of financial services to its customers. 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, salaries, commissions, employee benefits and merger and integration costs 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 years ended December 31, 2025, 2024, and 2023.
| Year Ended December 31, 2025 | Banking(2) | Mortgage | Consolidated | |||||||||||||||||
| Interest income | $ | 829,150 | $ | 4,776 | $ | 833,926 | ||||||||||||||
| Interest expense | 323,058 | (5,232) | 317,826 | |||||||||||||||||
| Net interest income | 506,092 | 10,008 | 516,100 | |||||||||||||||||
| Provisions for credit losses | 37,637 | 5,641 | 43,278 | |||||||||||||||||
| Net interest income after provision for credit losses | 468,455 | 4,367 | 472,822 | |||||||||||||||||
| Mortgage banking income | — | 52,444 | 52,444 | |||||||||||||||||
| Other noninterest (loss) income | (8,775) | 241 | (8,534) | |||||||||||||||||
| Total noninterest (loss) income | (8,775) | 52,685 | 43,910 | |||||||||||||||||
| Salaries, commissions and employee benefits | 187,473 | 30,248 | 217,721 | |||||||||||||||||
| Merger and integration costs | 23,803 | — | 23,803 | |||||||||||||||||
| Depreciation and amortization | 11,980 | 74 | 12,054 | |||||||||||||||||
| Amortization of intangibles | 5,298 | — | 5,298 | |||||||||||||||||
Other noninterest expense(1) | 96,210 | 23,128 | 119,338 | |||||||||||||||||
| Total noninterest expense | 324,764 | 53,450 | 378,214 | |||||||||||||||||
| Income before income taxes | $ | 134,916 | $ | 3,602 | $ | 138,518 | ||||||||||||||
| Income tax expense | 15,880 | |||||||||||||||||||
Net income applicable to FB Financial Corporation and noncontrolling interest | 122,638 | |||||||||||||||||||
Net income applicable to noncontrolling interest(2) | 16 | |||||||||||||||||||
| Net income applicable to FB Financial Corporation | $ | 122,622 | ||||||||||||||||||
| Total assets | $ | 15,623,962 | $ | 676,330 | $ | 16,300,292 | ||||||||||||||
| Goodwill | 350,353 | — | 350,353 | |||||||||||||||||
(1) Other noninterest expense includes expenses for occupancy and equipment expense, data processing, advertising, legal and professional fees and other expenses. Additionally, other noninterest expense for Mortgage includes servicing expenses.
(2) Banking segment includes noncontrolling interest
| Year Ended December 31, 2024 | Banking(2) | Mortgage | Consolidated | |||||||||||||||||
| Interest income | $ | 726,033 | $ | (495) | $ | 725,538 | ||||||||||||||
| Interest expense | 315,250 | (6,215) | 309,035 | |||||||||||||||||
| Net interest income | 410,783 | 5,720 | 416,503 | |||||||||||||||||
| Provisions for (reversals of) credit losses | 12,264 | (260) | 12,004 | |||||||||||||||||
| Net interest income after provision for credit losses | 398,519 | 5,980 | 404,499 | |||||||||||||||||
| Mortgage banking income | — | 46,634 | 46,634 | |||||||||||||||||
| Other noninterest (loss) income | (8,376) | 812 | (7,564) | |||||||||||||||||
| Total noninterest income | (8,376) | 47,446 | 39,070 | |||||||||||||||||
| Salaries, commissions and employee benefits | 154,810 | 29,003 | 183,813 | |||||||||||||||||
| Depreciation and amortization | 11,541 | 425 | 11,966 | |||||||||||||||||
| Amortization of intangibles | 2,947 | — | 2,947 | |||||||||||||||||
Other noninterest expense(1) | 77,192 | 20,981 | 98,173 | |||||||||||||||||
| Total noninterest expense | 246,490 | 50,409 | 296,899 | |||||||||||||||||
| Income before income taxes | $ | 143,653 | $ | 3,017 | $ | 146,670 | ||||||||||||||
| Income tax expense | 30,619 | |||||||||||||||||||
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 | ||||||||||||||
| Goodwill | 242,561 | — | 242,561 | |||||||||||||||||
(1) Other noninterest expense includes expenses for occupancy and equipment expense, data processing, advertising, legal and professional fees and other expenses. Additionally, other noninterest expense for Mortgage includes servicing expenses.
(2) Banking segment includes noncontrolling interest.
| Year Ended December 31, 2023 | Banking(2) | Mortgage | Consolidated | |||||||||||||||||
| Interest income | $ | 678,591 | $ | (181) | $ | 678,410 | ||||||||||||||
| Interest expense | 277,342 | (6,149) | 271,193 | |||||||||||||||||
| Net interest income | 401,249 | 5,968 | 407,217 | |||||||||||||||||
| Provisions for (reversals of) credit losses | 2,599 | (60) | 2,539 | |||||||||||||||||
| Net interest income after provision for credit losses | 398,650 | 6,028 | 404,678 | |||||||||||||||||
| Mortgage banking income | — | 44,692 | 44,692 | |||||||||||||||||
| Other noninterest income | 25,831 | 20 | 25,851 | |||||||||||||||||
| Total noninterest income | 25,831 | 44,712 | 70,543 | |||||||||||||||||
| Salaries, commissions and employee benefits | 170,975 | 32,466 | 203,441 | |||||||||||||||||
| Depreciation and amortization | 10,444 | 736 | 11,180 | |||||||||||||||||
| Amortization of intangibles | 3,659 | — | 3,659 | |||||||||||||||||
Other noninterest expense(1) | 85,491 | 21,158 | 106,649 | |||||||||||||||||
| Total noninterest expense | 270,569 | 54,360 | 324,929 | |||||||||||||||||
| Income (loss) before income taxes | $ | 153,912 | $ | (3,620) | $ | 150,292 | ||||||||||||||
| Income tax expense | 30,052 | |||||||||||||||||||
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 | ||||||||||||||
| Goodwill | 242,561 | — | 242,561 | |||||||||||||||||
(1) 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.
(2) Banking segment includes noncontrolling interest.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 26, 2026 | Showing above |
| 2024 | Feb 25, 2025 | |
| 2023 | Feb 27, 2024 | |
| 2022 | Feb 28, 2023 | |
| 2021 | Feb 25, 2022 | |
| 2020 | Mar 12, 2021 | |
| 2019 | Mar 13, 2020 | |
| 2018 | Mar 12, 2019 | |
| 2017 | Mar 16, 2018 | |
| 2016 | Mar 31, 2017 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.