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False0002013639FB Bancorp, Inc. /MD/00020136392026-07-282026-07-28

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 28, 2026

FB Bancorp, Inc.

(Exact Name of Registrant as Specified in its Charter)

Maryland

001-42380

99-1859402

(State or Other Jurisdiction of Incorporation)

(Commission File No.)

(I.R.S. Employer Identification No.)

353 Carondelet Street, New Orleans, Louisiana

70130

(Address of Principal Executive Offices)

(Zip Code)

(504) 569-8640

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Common Stock

FBLA

The NASDAQ Stock Market LLC

Title of Each Class

 

Trading Symbol(s)

Name of Each Exchange on Which Registered

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.

Emerging growth company x

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

 

 

 

 

 

 

 

 

 

 

 

 

 

 


Item 2.02 Results of Operation and Financial Condition.

On July 28, 2026, FB Bancorp, Inc. (the “Company”) issued a press release reporting its financial results for the quarter ended June 30, 2026.

A copy of the press release announcing the results is attached as Exhibit 99.1. The information in this Item 2.02, as well as Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing.

 

Item 9.01 Financial Statements and Exhibits

 

(a)

Financial Statements of Businesses Acquired. Not applicable.

(b)

Pro Forma Financial Information. Not applicable.

(c)

Shell Company Transactions. Not applicable.

(d)

Exhibits.

 

 

 

Exhibit No.

Description

 

 

99.1

Press Release dated July 28, 2026

104.1

Cover Page for this Current Report on Form 8-K, formatted in Inline XBRL

 

 

 


 

 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

FB BANCORP, INC.

Date: July 28, 2026

By:

/s/ Todd Wanner

Todd Wanner

 

 

Chief Financial Officer and Treasurer

 


EX-99.1 2 ck0002013639-ex99_1.htm EX-99.1 EX-99.1

Exhibit 99.1

FB Bancorp, Inc.

Announces Second Quarter 2026

Financial Results

New Orleans, Louisiana, July 28, 2026 / FB Bancorp, Inc. (NASDAQ: “FBLA”) (the “Company”), the holding company for Fidelity Bank (the “Bank”), today announced net income for the six months ended June 30, 2026 of $49 thousand, comprised of net income from continuing operations of $1.2 million and a net loss from discontinued operations of $1.1 million. The net loss from discontinued operations was due to Fidelity Bank's previously announced sale of substantially all assets and liabilities of the Bank's mortgage banking segment, NOLA Lending Group. The sale closed on March 1, 2026. For the six months ended June 30, 2025, the Company had net income of $1.6 million, comprised of net income from continuing operations of $2.4 million and a net loss from discontinued operations of $815 thousand. Net loss for the three months ended June 30, 2026 was $70 thousand, comprised of net income from continuing operations of $697 thousand and a net loss from discontinued operations of $767 thousand. Net income for the three months ended June 30, 2025 was $879 thousand, comprised of net income from continuing operations of $1.0 million and a net loss from discontinued operations of $150 thousand.

 

The Company is a Maryland corporation based in New Orleans, Louisiana. The Company’s banking subsidiary, Fidelity Bank, operates 19 banking locations in New Orleans, Hammond, Lafayette, and Baton Rouge, Louisiana. The Company was incorporated in February 2024 to become the registered bank holding company for Fidelity Bank upon the Bank’s conversion from the mutual-to-stock form of organization, which occurred on October 22, 2024. The Company sold 19,837,500 shares of common stock, par value $0.01 per share, at a price of $10 per share, for $198,375,000 in connection with the Company's initial public offering which also occurred on October 22, 2024. Shares of the Company’s common stock began trading on the Nasdaq Global Select Market under the trading symbol “FBLA” on October 23, 2024.

 

On June 12, 2026, the Company announced approval of a third stock repurchase program that authorizes the repurchase of up to 1,606,837 shares, approximately 10%, of its outstanding common stock. The first two repurchase programs resulted in a combined repurchase of 3,769,125 shares with an average cost of $13.20 per share, inclusive of trading costs and commissions.

 

 

 


Selected Financial Data

 

 

 

For the three months ended June 30,

 

 

For the six months ended June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Performance Ratios:

 

 

 

 

 

 

 

 

 

 

 

 

Net income from continuing operations (in thousands)

 

$

697

 

 

$

1,029

 

 

$

1,191

 

 

$

2,399

 

Net loss from discontinued operations (in thousands)

 

$

(767

)

 

$

(150

)

 

$

(1,142

)

 

$

(815

)

Net income (loss) (in thousands)

 

$

(70

)

 

$

879

 

 

$

49

 

 

$

1,584

 

Return on average assets from continuing operations (1)

 

 

0.06

%

 

 

0.08

%

 

 

0.10

%

 

 

0.19

%

Return on average equity from continuing operations(2)

 

 

0.24

%

 

 

0.31

%

 

 

0.41

%

 

 

0.73

%

Earnings per share from continuing operations - basic and diluted

 

$

0.05

 

 

$

0.06

 

 

$

0.08

 

 

$

0.13

 

Net interest margin (3)

 

 

4.20

%

 

 

4.65

%

 

 

4.34

%

 

 

4.63

%

Non-interest income to average assets from continuing operations

 

 

0.15

%

 

 

0.08

%

 

 

0.27

%

 

 

0.16

%

Non-interest expense to average assets from continuing operations

 

 

1.05

%

 

 

0.91

%

 

 

2.00

%

 

 

1.79

%

Efficiency ratio from continuing operations(4)

 

 

92.62

%

 

 

86.68

%

 

 

92.08

%

 

 

85.19

%

Average interest-earning assets to average interest-bearing liabilities

 

 

142.90

%

 

 

151.61

%

 

 

144.77

%

 

 

151.29

%

Capital Ratios:

 

 

 

 

 

 

 

 

 

 

 

 

Total risk-based capital

 

 

29.96

%

 

 

30.12

%

 

 

29.96

%

 

 

30.12

%

Tier 1 risk-based capital

 

 

29.16

%

 

 

29.40

%

 

 

29.16

%

 

 

29.40

%

Common equity Tier 1 risk-based capital

 

 

29.16

%

 

 

29.40

%

 

 

29.16

%

 

 

29.40

%

Tier 1 leverage capital

 

 

20.32

%

 

 

20.26

%

 

 

20.32

%

 

 

20.26

%

Average equity to average assets

 

 

22.93

%

 

 

26.65

%

 

 

23.53

%

 

 

26.67

%

Common stock book value per share

 

$

17.66

 

 

$

16.74

 

 

$

17.66

 

 

$

16.74

 

Common stock book value per share (net of unearned ESOP shares)

 

$

19.39

 

 

$

18.12

 

 

$

19.39

 

 

$

18.12

 

Asset Quality Ratios:

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for credit losses to total loans (5)

 

 

0.91

%

 

 

0.80

%

 

 

0.91

%

 

 

0.80

%

Allowance for credit losses to non-performing loans

 

 

49.43

%

 

 

47.21

%

 

 

49.43

%

 

 

47.21

%

Net charge-offs to average outstanding loans

 

 

0.07

%

 

 

0.06

%

 

 

0.13

%

 

 

0.13

%

Non-performing loans to total loans

 

 

1.85

%

 

 

1.68

%

 

 

1.85

%

 

 

1.68

%

Non-performing loans to total assets

 

 

1.12

%

 

 

1.05

%

 

 

1.12

%

 

 

1.05

%

Total non-performing assets to total assets (6)

 

 

1.37

%

 

 

1.18

%

 

 

1.37

%

 

 

1.18

%

Other:

 

 

 

 

 

 

 

 

 

 

 

 

Number of offices

 

 

19

 

 

 

18

 

 

 

19

 

 

 

18

 

Number of full-time equivalent employees

 

 

210

 

 

 

324

 

 

 

210

 

 

 

324

 

 

(1)

Represents net income (loss) from continuing operations divided by average total assets.

(2)

Represents net income (loss) from continuing operations divided by average equity.

(3)

Represents net interest income divided by average interest-earning assets. Includes loans held for sale.

(4)

Represents non-interest expense divided by the sum of net interest income and non-interest income.

(5)

Total loans includes only loans held for investment.

(6)

Non-performing assets includes other real estate owned.

 

 

 


 

 

 

 

 

 

 

Discontinued Operations

On December 31, 2025, the Bank entered into an agreement to sell substantially all of the assets and liabilities of the Bank's mortgage banking segment, NOLA Lending Group. The decision was based on a number of strategic priorities, including the continued decline in mortgage volume. This sale allowed the Bank to exit a business segment that had a net loss of approximately $2.7 million in 2025 and reduced total employees by approximately 108 individuals. The sale closed on March 1, 2026. The Company's financial statements will reflect discontinued operations for the current period and retrospectively for prior periods under ASC 205-20.

 

As of June 30, 2026, all customer loan pipelines have been finalized and one employee remains as part of this mortgage banking segment. The Company expects to absorb remaining assets and liabilities, at fair value, into the Bank's statements of financial condition in the third quarter of 2026. The Company expects remaining losses from discontinued operations to be significantly less over the final months of 2026.

 

The following is a summary of the assets and liabilities of the discontinued operations of the mortgage banking segment at June 30, 2026 and December 31, 2025:

 

 

 

June 30,
2026

 

 

December 31,
2025

 

ASSETS

 

(Dollars in thousands)

 

Derivative assets

 

$

 

 

$

450

 

Loans held for sale, at fair value

 

 

 

 

 

28,504

 

Premises and equipment, net

 

 

 

 

 

332

 

Deferred tax assets

 

 

 

 

 

26

 

Other assets

 

 

180

 

 

 

568

 

Total assets

 

$

180

 

 

$

29,880

 

 

 

 

 

 

 

LIABILITIES

 

 

 

 

 

 

Escrows payable

 

$

 

 

$

366

 

Other liabilities

 

 

1,375

 

 

 

1,978

 

Accrued compensation, including severance payments

 

 

99

 

 

 

1,199

 

Total liabilities

 

$

1,474

 

 

$

3,543

 

 

The following presents operating results of discontinued operations for the three and six months ended June 30, 2026 and 2025:


 

 

For the three months
ended June 30,

 

 

For the six months
ended June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Revenue

 

 

 

 

 

 

 

(Dollars in thousands)

 

Net interest income

 

$

54

 

 

$

1,088

 

 

$

877

 

 

$

2,041

 

Gain on sales of mortgage loans

 

 

314

 

 

 

3,953

 

 

 

3,086

 

 

 

7,293

 

Other non-interest income

 

 

101

 

 

 

13

 

 

 

101

 

 

 

21

 

Total revenue

 

 

469

 

 

 

5,054

 

 

 

4,064

 

 

 

9,355

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Expenses

 

 

 

 

 

 

 

 

 

 

 

 

Salaries and employee benefits

 

 

524

 

 

 

3,707

 

 

 

3,683

 

 

 

7,106

 

Hedging activity, net

 

 

48

 

 

 

241

 

 

 

(120

)

 

 

671

 

Other general and administrative

 

 

862

 

 

 

1,295

 

 

 

1,939

 

 

 

2,608

 

Total non-interest expenses

 

 

1,434

 

 

 

5,243

 

 

 

5,502

 

 

 

10,385

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss from discontinued operations before income taxes

 

 

(965

)

 

 

(189

)

 

 

(1,438

)

 

 

(1,030

)

Income tax benefit from discontinued operations

 

 

(198

)

 

 

(39

)

 

 

(296

)

 

 

(215

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss from discontinued operations

 

$

(767

)

 

$

(150

)

 

$

(1,142

)

 

$

(815

)

 

 

Results of Continuing Operations For the Six Months Ended June 30, 2026

 

Net income was $1.2 million for the six months ended June 30, 2026, as compared to net income of $2.4 million for the six months ended June 30, 2025. This decrease was primarily the result of a $2.8 million, or 12.81%, increase in total non-interest expenses partially offset by a $1.3 million, or 66.70%, increase in total non-interest income.

 

Net interest income was $23.7 million and $23.9 million for the six months ended June 30, 2026 and June 30, 2025, respectively. Over this same period, interest and dividends on investments increased $2.2 million, or 46.16%, offset by a decrease in interest on deposits in other banks by $897 thousand, a decrease in interest and fees on loans by $580 thousand and an increase in total interest expense of $892 thousand, or 10.54%. Net interest margin was 4.34% for the six months ended June 30, 2026, compared to 4.63% for the six months ended June 30, 2025. More information is available in the average balance sheet and yield tables below.

 

Total non-interest income was $3.3 million for the six months ended June 30, 2026 and $2.0 million for the six months ended June 30, 2025. The largest increase was due to a $1.2 million gain on life insurance proceeds realized in May 2026 related to Bank owned life insurance assets.

 

Total non-interest expenses were $24.9 million for the six months ended June 30, 2026, compared to $22.1 million for the six months ended June 30, 2025. This represents a $2.8 million, or 12.81%, increase in total non-interest expenses. Increases in non-interest expenses were primarily due to a $2.0 million, or 16.43%, increase in salaries and employee benefits due to added staff for the Lafayette branch opened by the Bank in August 2025, severance related reorganization costs, normal pay and benefit increases, a $412 thousand, or 12.27%, increase in occupancy and equipment related to the new Lafayette branch and new ATM servicing contracts.

 

 

 

 

 

Results of Continuing Operations For the Three Months Ended June 30, 2026


 

Net income was $697 thousand for the three months ended June 30, 2026, as compared to net income of $1.0 million for the three months ended June 30, 2025. This decrease was primarily the result of a $1.8 million, or 15.73%, increase in total non-interest expenses partially offset by a $1.3 million, or 134.59%, increase in total non-interest income.

 

Net interest income was $11.9 million and $12.1 million for the three months ended June 30, 2026 and June 30, 2025, respectively. Over this same period, interest and dividends on investments increased $1.2 million, or 48.45%, offset by a decrease in interest on deposits in other banks by $382 thousand, a decrease in interest and fees on loans by $529 thousand and an increase in total interest expense of $449 thousand, or 10.32%. Net interest margin was 4.20% for the three months ended June 30, 2026, compared to 4.65% for the three months ended June 30, 2025. More information is available in the average balance sheet and yield tables below.

 

Total non-interest income was $2.2 million for the three months ended June 30, 2026 and $954 thousand for the three months ended June 30, 2025. The largest increase was due to a $1.2 million gain on life insurance proceeds realized in May 2026 related to Bank owned life insurance assets.

 

Total non-interest expenses were $13.1 million for the three months ended June 30, 2026, compared to $11.3 million for the three months ended June 30, 2025. This represents a $1.8 million, or 15.73%, increase in total non-interest expenses. Increases in non-interest expenses were primarily due to a $1.4 million, or 23.01%, increase in salaries and employee benefits due to added staff for the Lafayette branch opened by the Bank in August 2025, the recently approved 2025 Equity Incentive Plan ("2025 EIP"), severance related reorganization costs, normal pay and benefit increases, and a $186 thousand, or 10.78%, increase in occupancy and equipment related to the new Lafayette branch and new ATM servicing contracts. Total expected compensation costs related to the 2025 EIP is expected to be $2.6 million at an annual rate before taxes.

 

Gross severance payments of $817 thousand were paid by the Company in the three months ended June 30, 2026. A total of $585 thousand of these severance payments were recorded in salaries and employee benefits from continuing operations for the three months ended June 30, 2026. The Company expects approximately $749 thousand in annual savings going forward within continuing operations due to these reorganization changes.

 

 

Financial Condition

 

Total assets were $1.23 billion at June 30, 2026, compared to $1.26 billion at December 31, 2025. The largest fluctuation between these periods came from an increase in securities available for sale of $11.7 million, or 3.58%. This increase was due to favorable investment yields in the current period, predominantly in previously issued government backed mortgage securities. For the six months ended June 30, 2026, the Company purchased approximately $44.6 million and sold $10.0 million in securities for a gain of $162 thousand.

 

Loans held for investment were $745.5 million at June 30, 2026, compared to $744.0 million at December 31, 2025. This represents a $1.6 million, or 0.21%, increase. Total commercial loans increased $28.5 million, or 8.35%, for the six months ended June 30, 2026 but were substantially offset by net paydowns of total residential mortgage loans. Most residential mortgage loans were sourced for

the Bank through the NOLA Lending mortgage banking segment. The Company expects continued runoff of total residential mortgage loans.

 

Total deposits were $811.0 million at June 30, 2026, compared to $841.4 million at December 31, 2025. This represents a $30.4 million, or 3.62%, decrease. The largest fluctuations in deposits came from three separate commercial clients that reduced their deposit accounts in total by $15.2 million. Some of the $15.2 million was seasonal while other reductions were used to pay down existing loans with the Company. The Company also reduced wholesale brokered deposits by $3.8 million during the six months ended June 30, 2026.

 

Total other borrowings were $111.2 million at June 30, 2026, compared to $78.3 million at December 31, 2025. This represents a $32.9 million, or 42.08%, increase. The increase in borrowings was mostly used to offset decreases in deposits. All other borrowings are made up of Federal Home Loan Bank ("FHLB") advances. The Company has a line of credit with the FHLB pursuant to a collateral agreement. The unused portion of this line at June 30, 2026 was approximately $292 million.

 

Total equity was $283.8 million at June 30, 2026 compared to $314.5 million at December 31, 2025. This $30.6 million, or 9.74%, decrease was due to $27.6 million in Company common stock repurchases and a $4.5 million increase in accumulated other comprehensive loss, partially offset by net income.

 

 

Asset Quality

 

Non-performing loans were $13.8 million at June 30, 2026 compared to $16.9 million at December 31, 2025.

 

Non-performing loans as a percentage of total loans was 1.85% at June 30, 2026 compared to 2.26% at December 31, 2025.

 

Total non-performing assets, which included non-performing loans and other real estate owned, as a percentage of total capital was 5.93% at June 30, 2026 compared to 5.80% at December 31, 2025.

 

Net charge-offs were $928 thousand for the six months ended June 30, 2026 compared to $916 thousand for the six months ended June 30, 2025.

 

Forward-Looking Statements

Certain statements contained herein are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, which are based on certain current assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of the words “may,” “will,” “should,” “could,” “would,” “plan,” “potential,” “estimate,” “project,” “believe,” “intend,” “outlook,” “anticipate,” “expect,” “target” or words of similar meaning. Forward-looking statements are based on current beliefs and expectations of management and are inherently subject to significant business, economic and


competitive uncertainties and contingencies, many of which are difficult to predict or are beyond our control. Forward‑looking statements also include the assumptions underlying such statements, including assumptions about future events, operating performance, strategic outcomes, and economic conditions. As a result of the aforementioned uncertainties or contingencies, our actual financial results in the future could differ, possibly materially, from those expressed in or implied by the forward-looking statements contained herein and could cause us to change our future plans. Certain factors that could cause actual results to differ materially from expected results include, but are not limited to, increased competitive pressures, changes in the interest rate environment, inflation, general economic conditions (including current and future economic conditions, particularly those affecting the financial services industry) or significant turbulence or a disruption in the capital or financial markets and the effect of a fall in stock market prices on our investment securities; significant volatility in the markets for equity, fixed income and other asset classes globally or within specific markets; our ability to successfully integrate acquired operations and realize the expected level of synergies and cost savings, potential recessionary conditions, real estate market values in the Bank’s lending area, changes in the quality of our loan and security portfolios, increases in the costs of mortgage insurance, increases in non-performing and classified loans, changes in liquidity, including the size and composition of our deposit portfolio, and the percentage of uninsured deposits in the portfolio, tariffs or trade wars (including reduced consumer spending, lower economic growth or recession, reduced demand for U.S. exports, disruptions to supply chains, and decreased demand for other banking products and services), high unemployment rates, changes in monetary and fiscal policies of the U.S. Government, including policies of the U.S. Treasury and the Board of Governors of the Federal Reserve System, a failure in or breach of the Company’s operational or security systems or infrastructure, including cyberattacks, failure to maintain current technologies, failure to retain or attract employees, and other economic, legislative, accounting and regulatory changes that could adversely affect the Company or the Bank. The foregoing list of risks and uncertainties is not exhaustive, and additional risks and uncertainties not currently known or not presently viewed as material may also affect our forward‑looking statements. Except as required by applicable law or regulation, we do not undertake, and we specifically disclaim any obligation, to release publicly the results of any revisions that may be made to any forward-looking statement contained herein.

 


Average Balance Sheets

 

 

 

For the three months ended June 30,

 

 

 

2026

 

 

2025

 

 

 

Average
Outstanding
Balance

 

 

Interest

 

 

Average Yield/Rate

 

 

Average
Outstanding
Balance

 

 

Interest

 

 

Average Yield/Rate

 

 

 

(Dollars in thousands)

 

Interest-earning assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

51,117

 

 

$

425

 

 

 

3.33

%

 

$

78,056

 

 

$

807

 

 

 

4.15

%

Securities

 

 

343,712

 

 

 

3,551

 

 

 

4.14

%

 

 

259,257

 

 

 

2,391

 

 

 

3.70

%

Loans held for investment

 

 

744,290

 

 

 

12,762

 

 

 

6.88

%

 

 

775,647

 

 

 

13,945

 

 

 

7.21

%

Loans held for sale

 

 

2,741

 

 

 

15

 

 

 

2.18

%

 

 

24,337

 

 

 

395

 

 

 

6.51

%

Total earning assets (4)

 

 

1,141,860

 

 

 

16,753

 

 

 

5.88

%

 

 

1,137,297

 

 

 

17,538

 

 

 

6.19

%

Non-interest-earning assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

 

6,247

 

 

 

 

 

 

 

 

 

7,602

 

 

 

 

 

 

 

Fixed Assets

 

 

55,995

 

 

 

 

 

 

 

 

 

57,391

 

 

 

 

 

 

 

Allowance for credit losses

 

 

(6,268

)

 

 

 

 

 

 

 

 

(6,171

)

 

 

 

 

 

 

Other

 

 

46,575

 

 

 

 

 

 

 

 

 

44,834

 

 

 

 

 

 

 

Total non-interest-earning assets

 

 

102,549

 

 

 

 

 

 

 

 

 

103,656

 

 

 

 

 

 

 

Total Assets

 

$

1,244,409

 

 

 

 

 

 

 

 

$

1,240,953

 

 

 

 

 

 

 

Interest-bearing liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest-bearing demand deposits

 

$

111,086

 

 

$

31

 

 

 

0.11

%

 

$

108,369

 

 

$

57

 

 

 

0.21

%

Interest-bearing savings and money market deposits

 

 

217,112

 

 

 

645

 

 

 

1.19

%

 

 

230,455

 

 

 

616

 

 

 

1.07

%

Certificates of deposit

 

 

359,962

 

 

 

3,059

 

 

 

3.41

%

 

 

352,656

 

 

 

3,060

 

 

 

3.48

%

Total interest-bearing deposits

 

 

688,160

 

 

 

3,735

 

 

 

2.18

%

 

 

691,480

 

 

 

3,733

 

 

 

2.17

%

Interest-bearing borrowings

 

 

110,928

 

 

 

1,063

 

 

 

3.84

%

 

 

58,676

 

 

 

616

 

 

 

4.21

%

Total interest-bearing liabilities

 

 

799,088

 

 

 

4,798

 

 

 

2.41

%

 

 

750,156

 

 

 

4,349

 

 

 

2.33

%

Non-interest:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Demand deposits

 

 

146,408

 

 

 

 

 

 

 

 

 

145,277

 

 

 

 

 

 

 

Other liabilities

 

 

13,559

 

 

 

 

 

 

 

 

 

14,834

 

 

 

 

 

 

 

Total non-interest liabilities

 

 

159,967

 

 

 

 

 

 

 

 

 

160,111

 

 

 

 

 

 

 

Total Equity

 

 

285,354

 

 

 

 

 

 

 

 

 

330,686

 

 

 

 

 

 

 

Total liabilities and equity

 

$

1,244,409

 

 

 

 

 

 

 

 

$

1,240,953

 

 

 

 

 

 

 

Net interest income

 

 

 

 

$

11,955

 

 

 

 

 

 

 

 

$

13,189

 

 

 

 

Net interest-earning assets (1)

 

$

342,772

 

 

 

 

 

 

 

 

$

387,141

 

 

 

 

 

 

 

Net interest rate spread (2)

 

 

 

 

 

 

 

 

3.48

%

 

 

 

 

 

 

 

 

3.86

%

Net yield on interest-earning assets (3)

 

 

 

 

 

 

 

 

4.20

%

 

 

 

 

 

 

 

 

4.65

%

Average of interest-earning assets to interest-bearing liabilities

 

 

142.90

%

 

 

 

 

 

 

 

 

151.61

%

 

 

 

 

 

 

Average equity to assets

 

 

22.93

%

 

 

 

 

 

 

 

 

26.65

%

 

 

 

 

 

 

 

(1)

Net interest-earning assets represent total interest-earning assets less total interest-bearing liabilities.

(2)

Net interest rate spread represents the difference between the weighted average yield on interest-earning assets and the weighted average rate of interest-bearing liabilities.

(3)

Represents net interest income divided by average interest-earning assets.

(4)

$54 thousand and $1.1 million of interest on earning assets represents origination fees, discount fees and interest income from discontinued operations for 2026 and 2025, respectively.

 


 

 

For the six months ended June 30,

 

 

 

2026

 

 

2025

 

 

 

Average
Outstanding
Balance

 

 

Interest

 

 

Average Yield/Rate

 

 

Average
Outstanding
Balance

 

 

Interest

 

 

Average Yield/Rate

 

 

 

(Dollars in thousands)

 

Interest-earning assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

54,535

 

 

$

907

 

 

 

3.35

%

 

$

86,964

 

 

$

1,804

 

 

 

4.18

%

Securities

 

 

336,876

 

 

 

6,852

 

 

 

4.10

%

 

 

254,274

 

 

 

4,688

 

 

 

3.72

%

Loans held for investment

 

 

740,409

 

 

 

25,827

 

 

 

7.03

%

 

 

768,339

 

 

 

27,168

 

 

 

7.13

%

Loans held for sale

 

 

13,466

 

 

 

393

 

 

 

5.88

%

 

 

22,909

 

 

 

796

 

 

 

7.00

%

Total earning assets (4)

 

 

1,145,286

 

 

 

33,979

 

 

 

5.98

%

 

 

1,132,486

 

 

 

34,456

 

 

 

6.14

%

Non-interest-earning assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

 

6,838

 

 

 

 

 

 

 

 

 

6,957

 

 

 

 

 

 

 

Fixed Assets

 

 

56,591

 

 

 

 

 

 

 

 

 

56,411

 

 

 

 

 

 

 

Allowance for credit losses

 

 

(6,266

)

 

 

 

 

 

 

 

 

(6,213

)

 

 

 

 

 

 

Other

 

 

45,486

 

 

 

 

 

 

 

 

 

45,722

 

 

 

 

 

 

 

Total non-interest-earning assets

 

 

102,649

 

 

 

 

 

 

 

 

 

102,877

 

 

 

 

 

 

 

Total Assets

 

$

1,247,935

 

 

 

 

 

 

 

 

$

1,235,363

 

 

 

 

 

 

 

Interest-bearing liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest-bearing demand deposits

 

$

113,765

 

 

$

92

 

 

 

0.16

%

 

$

107,908

 

 

$

100

 

 

 

0.19

%

Interest-bearing savings and money market deposits

 

 

221,417

 

 

 

1,390

 

 

 

1.27

%

 

 

237,038

 

 

 

1,305

 

 

 

1.11

%

Certificates of deposit

 

 

359,286

 

 

 

6,045

 

 

 

3.39

%

 

 

338,546

 

 

 

5,721

 

 

 

3.41

%

Total interest-bearing deposits

 

 

694,468

 

 

 

7,527

 

 

 

2.19

%

 

 

683,492

 

 

 

7,126

 

 

 

2.10

%

Interest-bearing borrowings

 

 

96,662

 

 

 

1,831

 

 

 

3.82

%

 

 

65,045

 

 

 

1,340

 

 

 

4.16

%

Total interest-bearing liabilities

 

 

791,130

 

 

 

9,358

 

 

 

2.39

%

 

 

748,537

 

 

 

8,466

 

 

 

2.28

%

Non-interest:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Demand deposits

 

 

148,816

 

 

 

 

 

 

 

 

 

144,865

 

 

 

 

 

 

 

Other liabilities

 

 

14,325

 

 

 

 

 

 

 

 

 

12,471

 

 

 

 

 

 

 

Total non-interest liabilities

 

 

163,141

 

 

 

 

 

 

 

 

 

157,336

 

 

 

 

 

 

 

Total Equity

 

 

293,664

 

 

 

 

 

 

 

 

 

329,490

 

 

 

 

 

 

 

Total liabilities and equity

 

$

1,247,935

 

 

 

 

 

 

 

 

$

1,235,363

 

 

 

 

 

 

 

Net interest income

 

 

 

 

$

24,621

 

 

 

 

 

 

 

 

$

25,990

 

 

 

 

Net interest-earning assets (1)

 

$

354,156

 

 

 

 

 

 

 

 

$

383,949

 

 

 

 

 

 

 

Net interest rate spread (2)

 

 

 

 

 

 

 

 

3.59

%

 

 

 

 

 

 

 

 

3.86

%

Net yield on interest-earning assets (3)

 

 

 

 

 

 

 

 

4.34

%

 

 

 

 

 

 

 

 

4.63

%

Average of interest-earning assets to interest-bearing liabilities

 

 

144.77

%

 

 

 

 

 

 

 

 

151.29

%

 

 

 

 

 

 

Average equity to assets

 

 

23.53

%

 

 

 

 

 

 

 

 

26.67

%

 

 

 

 

 

 

 

(1)

Net interest-earning assets represent total interest-earning assets less total interest-bearing liabilities.

(2)

Net interest rate spread represents the difference between the weighted average yield on interest-earning assets and the weighted average rate of interest-bearing liabilities.

(3)

Represents net interest income divided by average interest-earning assets.

(4)

$877 thousand and $2.0 million of interest on earning assets represents origination fees, discount fees and interest income from discontinued operations for 2026 and 2025, respectively.

 

 


FB Bancorp, Inc.

Consolidated Statements of Financial Condition

(unaudited)

 

 

 

June 30,
2026

 

 

December 31,
2025

 

ASSETS

 

(Dollars in thousands)

 

Cash and due from banks

 

$

5,932

 

 

$

9,872

 

Interest-bearing deposits at other financial institutions

 

 

39,277

 

 

 

50,397

 

Total cash and cash equivalents

 

 

45,209

 

 

 

60,269

 

 

 

 

 

 

 

 

Securities available for sale, at fair value (amortized cost of $353,751 and $336,347, respectively)

 

 

338,035

 

 

 

326,346

 

Loans held for investment

 

 

745,523

 

 

 

743,956

 

Less: allowance for credit losses

 

 

(6,814

)

 

 

(6,289

)

Loans held for investment, net

 

 

738,709

 

 

 

737,667

 

Federal Home Loan Bank stock, at cost

 

 

5,395

 

 

 

3,650

 

Bank owned life insurance

 

 

14,164

 

 

 

15,341

 

Accrued interest receivable

 

 

5,667

 

 

 

5,688

 

Premises and equipment, net

 

 

55,599

 

 

 

57,105

 

Other real estate owned

 

 

3,055

 

 

 

1,349

 

Mortgage servicing rights

 

 

898

 

 

 

904

 

Prepaid expenses

 

 

2,012

 

 

 

1,908

 

Other assets

 

 

16,721

 

 

 

15,299

 

Assets from discontinued operations, at fair value

 

 

180

 

 

 

29,880

 

 

 

 

 

 

 

 

Total assets

 

$

1,225,644

 

 

$

1,255,406

 

 

 

 

 

 

 

LIABILITIES AND STOCKHOLDERS' EQUITY

 

 

 

 

 

 

Deposits:

 

 

 

 

 

 

Non-interest bearing

 

$

128,196

 

 

$

133,506

 

Interest bearing

 

 

682,779

 

 

 

707,897

 

Total deposits

 

 

810,975

 

 

 

841,403

 

 

 

 

 

 

 

 

Advances by borrowers for taxes and insurance

 

 

6,587

 

 

 

6,298

 

Other borrowings

 

 

111,186

 

 

 

78,257

 

Accrued interest payable

 

 

511

 

 

 

392

 

Other liabilities

 

 

11,095

 

 

 

11,063

 

Liabilities from discontinued operations, at fair value

 

 

1,474

 

 

 

3,543

 

Total liabilities

 

 

941,828

 

 

 

940,956

 

 

 

 

 

 

 

 

Stockholders' Equity:

 

 

 

 

 

 

Preferred stock, $0.01 par value - 5,000,000 shares authorized; none issued

 

 

 

 

 

 

Common stock, $0.01 par value - 120,000,000 shares authorized; 16,068,375 and 18,089,741 issued and outstanding as of June 30, 2026 and December 31, 2025, respectively

 

 

161

 

 

 

181

 

Additional paid-in capital

 

 

144,997

 

 

 

171,503

 

Unearned ESOP shares - 1,428,300 and 1,460,040 shares as of June 30, 2026 and December 31, 2025, respectively

 

 

(16,140

)

 

 

(16,498

)

Retained earnings

 

 

167,214

 

 

 

167,165

 

Accumulated other comprehensive income (loss)

 

 

(12,416

)

 

 

(7,901

)

Total stockholders' equity

 

 

283,816

 

 

 

314,450

 

 

 

 

 

 

 

 

Total liabilities and stockholders' equity

 

$

1,225,644

 

 

$

1,255,406

 

 


FB Bancorp, Inc.

Consolidated Statements of Operations

(unaudited)

 

 

 

For the three months
ended June 30,

 

 

For the six months
ended June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

 

 

(Dollars in thousands except per share amounts)

 

Interest and dividend income

 

 

 

 

 

 

 

 

 

 

 

 

Interest and fees on loans

 

$

12,723

 

 

$

13,252

 

 

$

25,343

 

 

$

25,923

 

Interest and dividends on investment securities

 

 

3,551

 

 

 

2,392

 

 

 

6,852

 

 

 

4,688

 

Interest on deposits in other banks

 

 

425

 

 

 

807

 

 

 

907

 

 

 

1,804

 

Total interest and dividend income

 

 

16,699

 

 

 

16,451

 

 

 

33,102

 

 

 

32,415

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

 

 

 

 

 

 

 

 

 

 

 

Deposits

 

 

3,735

 

 

 

3,733

 

 

 

7,527

 

 

 

7,126

 

Borrowed funds

 

 

1,063

 

 

 

616

 

 

 

1,831

 

 

 

1,340

 

Total interest expense

 

 

4,798

 

 

 

4,349

 

 

 

9,358

 

 

 

8,466

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net interest income

 

 

11,901

 

 

 

12,102

 

 

 

23,744

 

 

 

23,949

 

Provision for credit losses

 

 

475

 

 

 

453

 

 

 

965

 

 

 

838

 

Net interest income after provision for credit losses

 

 

11,426

 

 

 

11,649

 

 

 

22,779

 

 

 

23,111

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-interest income

 

 

 

 

 

 

 

 

 

 

 

 

Service charges and fee income from deposit accounts

 

 

672

 

 

 

613

 

 

 

1,417

 

 

 

1,267

 

Gain (loss) on sales, disposal, or impairment of assets

 

 

4

 

 

 

(88

)

 

 

(42

)

 

 

(88

)

Gain on sales of available for sale securities

 

 

77

 

 

 

108

 

 

 

162

 

 

 

163

 

Other non-interest income

 

 

1,485

 

 

 

321

 

 

 

1,812

 

 

 

667

 

Total non-interest income

 

 

2,238

 

 

 

954

 

 

 

3,349

 

 

 

2,009

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-interest expenses

 

 

 

 

 

 

 

 

 

 

 

 

Salaries and employee benefits

 

 

7,665

 

 

 

6,231

 

 

 

14,424

 

 

 

12,389

 

Occupancy and equipment

 

 

1,912

 

 

 

1,726

 

 

 

3,771

 

 

 

3,359

 

Directors’ fees

 

 

246

 

 

 

183

 

 

 

446

 

 

 

364

 

Data processing

 

 

1,278

 

 

 

1,245

 

 

 

2,556

 

 

 

2,473

 

Advertising and marketing

 

 

218

 

 

 

301

 

 

 

463

 

 

 

469

 

Mortgage servicing rights amortization

 

 

100

 

 

 

103

 

 

 

207

 

 

 

194

 

Other general and administrative

 

 

1,677

 

 

 

1,527

 

 

 

3,080

 

 

 

2,866

 

Total non-interest expenses

 

 

13,096

 

 

 

11,316

 

 

 

24,947

 

 

 

22,114

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations before income taxes

 

 

568

 

 

 

1,287

 

 

 

1,181

 

 

 

3,006

 

Income tax expense (benefit) from continuing operations

 

 

(129

)

 

 

258

 

 

 

(10

)

 

 

607

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income from continuing operations

 

 

697

 

 

 

1,029

 

 

 

1,191

 

 

 

2,399

 

Loss from discontinued operations before income taxes

 

 

(965

)

 

 

(189

)

 

 

(1,438

)

 

 

(1,030

)

Income tax benefit from discontinued operations

 

 

(198

)

 

 

(39

)

 

 

(296

)

 

 

(215

)

Net loss from discontinued operations

 

 

(767

)

 

 

(150

)

 

 

(1,142

)

 

 

(815

)

Net Income

 

$

(70

)

 

$

879

 

 

$

49

 

 

$

1,584

 

Basic and diluted earnings (loss) per common share:

 

 

 

 

 

 

 

 

 

 

 

 

Continuing operations

 

$

0.05

 

 

$

0.06

 

 

$

0.08

 

 

$

0.13

 

Discontinued operations

 

 

(0.05

)

 

 

(0.01

)

 

 

(0.07

)

 

 

(0.04

)

Total earnings per share - basic and diluted

 

$

-

 

 

$

0.05

 

 

$

0.01

 

 

$

0.09

 

Weighted average shares outstanding - basic

 

 

14,853,909

 

 

 

18,329,850

 

 

 

15,562,108

 

 

 

18,321,959

 

Weighted average shares outstanding - diluted

 

 

14,912,707

 

 

 

18,329,850

 

 

 

15,598,136

 

 

 

18,321,959