$FBLA

FB Bancorp, Inc. /MD/

CIK:0002013639|SEC Filings

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
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 (loss)	$ (70)	$ 879	$ 49	$ 1,584
Continuing operations - basic	$ 0.05	$ 0.06	$ 0.08	$ 0.13
Continuing operations - diluted	0.05	0.06	0.08	0.13
Discontinued operations - basic	(0.05)	(0.01)	(0.07)	(0.04)
Discontinued operations - diluted	(0.05)	(0.01)	(0.07)	(0.04)
Total earnings per share basic	0	0.05	0.01	0.09
Total earnings per share diluted	$ 0	$ 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

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income from continuing operations	$ 1,191	$ 2,399
Net loss from discontinued operations	(1,142)	(815)
Net income (loss)	49	1,584
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	1,380	1,177
Amortization of mortgage servicing rights	207	194
Net (accretion) amortization on securities	(2,137)	(692)
Provision (benefit) for credit losses	965	838
ESOP expense	434	356
Increase in cash surrender value of life insurance	(170)	(174)
Loss on sales and disposal of assets	42	88
Federal Home Loan Bank stock dividends	(87)	(113)
Net gain on sales of available for sale securities	(162)	(163)
Gain on life insurance proceeds	(1,168)
Deferred income taxes (benefit)	(313)	282
Stock-based compensation	977
Changes in other operating assets and liabilities	1,100	2,659
Net cash provided by (used in) operating activities of continuing operations	1,117	6,036
Net cash provided by (used in) operating activities of discontinued operations	26,489	(537)
Net cash provided by (used in) operating activities	27,606	5,499
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of securities available for sale	(44,616)	(34,773)
Proceeds from maturities, prepayments, and sales of securities available for sale	29,511	24,499
Purchase of FHLB stock	(1,658)
Redemption of FHLB stock		1,191
(Increase) decrease in loans held for investment, net	(4,039)	(21,742)
Bank owned life insurance proceeds	2,515
Purchases of premises and equipment	(201)	(4,745)
Proceeds from sale of Company owned assets or other real estate owned	611	598
Net cash provided by (used in) investing activities	(17,877)	(34,972)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net increase (decrease) in deposits	(30,428)	24,588
Proceeds from other borrowings	55,300	30,000
Payments on other borrowings	(22,371)	(37,000)
Net change in advances by borrowers for taxes and insurance	289	(873)
Common stock repurchased	(27,579)
Net cash provided by (used in) financing activities	(24,789)	16,715
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(15,060)	(12,758)
Cash and cash equivalents at beginning of period	60,269	98,845
Cash and cash equivalents at end of period	45,209	86,087
Supplemental Disclosures For Cash Flow Information:
Cash paid for interest on deposits and borrowings	9,239	8,523
Loans transferred to other real estate owned	$ 2,032	$ 1,024

Consolidated Statements of Financial Condition (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
ASSETS
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
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	0	0
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