FB Financial Corp
For the period ended Dec 31, 2023. Filed Feb 27, 2024.
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FY2023 · Filed Feb 27, 2024
FBK$54.90-0.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated statements of cash flows
| Years Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Cash flows from operating activities: | |||
| Net income applicable to FB Financial Corporation and noncontrolling interest | $120,240 | $124,571 | $190,301 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization of fixed assets and software | 11,180 | 8,017 | 8,416 |
| Amortization of core deposit and other intangibles | 3,659 | 4,585 | 5,473 |
| Amortization of issuance costs on subordinated debt and accretion of subordinated debt fair value premium, net | 387 | 387 | 17 |
| Capitalization of mortgage servicing rights | (7,192) | (20,809) | (39,018) |
| Net change in fair value of mortgage servicing rights | 11,308 | (32,044) | 3,503 |
| Stock-based compensation expense | 10,381 | 9,857 | 10,282 |
| Provision for (reversal of) credit losses on loans HFI | 16,738 | 10,393 | (38,995) |
| (Reversal of) provision for credit losses on unfunded commitments | (14,199) | 8,589 | (1,998) |
| Provision for mortgage loan repurchases | (650) | (2,989) | (766) |
| (Accretion) amortization of discounts and premiums on acquired loans, net | (694) | 1,020 | 853 |
| Amortization (accretion) of premiums and discounts on securities, net | 6,106 | 6,589 | 8,777 |
| Loss (gain) from investment securities, net | 13,973 | 376 | (324) |
| Originations of loans held for sale | (1,199,362) | (2,403,476) | (6,300,892) |
| Repurchases of loans held for sale | — | (194) | (487) |
| Proceeds from sale of loans held for sale | 1,276,596 | 3,067,204 | 6,387,110 |
| Gain on sale and change in fair value of loans held for sale | (28,541) | (47,783) | (161,964) |
| Net loss (gain) on write-downs of other real estate owned and other assets | 27 | 265 | (2,827) |
| Provision for deferred income taxes | (1,415) | 12,552 | 30,770 |
| Earnings on bank-owned life insurance | (1,871) | (1,452) | (1,542) |
| Changes in: | |||
| Operating lease assets and liabilities, net | 3,637 | 5,030 | (969) |
| Other assets and interest receivable | 6,564 | (17,222) | 59,283 |
| Accrued expenses and other liabilities | (15,800) | 56,247 | (100,108) |
| Net cash provided by operating activities | 211,072 | 789,713 | 54,895 |
| Cash flows from investing activities: | |||
| Activity in available-for-sale securities: | |||
| Sales | 100,463 | 1,218 | 8,855 |
| Maturities, prepayments and calls | 128,206 | 204,748 | 296,256 |
| Purchases | (202,054) | (242,889) | (847,212) |
| Proceeds from sales of equity securities | 3,091 | — | — |
| Net change in loans | (97,302) | (1,675,976) | (309,766) |
| Sales of FHLB stock | 32,444 | — | 4,294 |
| Purchases of FHLB stock | (7,993) | (26,424) | (5,279) |
| Purchases of premises and equipment | (20,229) | (10,629) | (6,102) |
| Proceeds from the sale of premises and equipment | 123 | 875 | — |
| Proceeds from the sale of other real estate owned | 6,083 | 4,959 | 9,396 |
| Proceeds from the sale of other assets | 1,717 | — | — |
| Proceeds from bank-owned life insurance | 236 | — | — |
| Net cash used in investing activities | (55,215) | (1,744,118) | (849,558) |
| Cash flows from financing activities: | |||
| Net (decrease) increase in deposits | (312,897) | 28,784 | 1,378,860 |
| Net increase in securities sold under agreements to repurchase and federal funds purchased | 21,819 | 46,229 | 8,517 |
| Net (decrease) increase in short-term FHLB advances and Bank Term Funding Program | (45,000) | 175,000 | — |
| Payments on subordinated debt | — | — | (60,000) |
| Payments on other borrowings | — | — | (15,000) |
| Share based compensation withholding payments | (3,379) | (2,842) | (10,158) |
| Net proceeds from sale of common stock under employee stock purchase program | 723 | 1,212 | 1,480 |
| Repurchase of common stock | (4,944) | (39,979) | (7,595) |
| Dividends paid on common stock | (28,057) | (24,503) | (20,866) |
| Dividend equivalent payments made upon vesting of equity compensation | (226) | (168) | (717) |
| Noncontrolling interest distribution | (16) | (16) | (16) |
| Net cash (used in) provided by financing activities | (371,977) | 183,717 | 1,274,505 |
| Net change in cash and cash equivalents | (216,120) | (770,688) | 479,842 |
| Cash and cash equivalents at beginning of the period | 1,027,052 | 1,797,740 | 1,317,898 |
| Cash and cash equivalents at end of the period | $810,932 | $1,027,052 | $1,797,740 |
| Years Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Supplemental cash flow information: | |||
| Interest paid | $261,032 | $63,701 | $41,238 |
| Taxes paid, net | 37,937 | 906 | 61,693 |
| Supplemental noncash disclosures: | |||
| Transfers from loans to other real estate owned | $2,736 | $1,437 | $5,262 |
| Transfers from loans to other assets | 2,925 | — | — |
| Transfers from other real estate owned to other assets | 75 | — | — |
| Transfers from other real estate owned to premises and equipment | — | 351 | — |
| Loans provided for sales of other real estate owned | — | — | 704 |
| Loans provided for sales of other assets | 911 | — | — |
| Transfers from loans to loans held for sale | 13,720 | 46,364 | 10,408 |
| Transfers from loans held for sale to loans | 3,273 | 24,479 | 86,315 |
| (Decrease) increase in rebooked GNMA loans under optional repurchase program | (4,982) | 26,211 | — |
| Dividends declared not paid on restricted stock units | 287 | 222 | 400 |
| Right-of-use assets obtained in exchange for operating lease liabilities | 7,300 | 25,399 | 970 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.