FB Bancorp Reports $705,000 Net Income in Q1 2025, Significant Turnaround from Loss in 2024

FB Bancorp, Inc. reported a net income of $705,000 for the first quarter of 2025, a significant turnaround from a net loss of $807,000 in the same period of 2024. This improvement was primarily driven by a 17.7% increase in net interest income, which rose to $12.8 million from $10.9 million year-over-year. The company’s total interest and dividend income also increased by 11% to $16.9 million, largely due to a $1.3 million rise in interest and fees on loans. The average balance of loans held for investment grew by 11.7%, contributing to the overall increase in interest income.

Total assets for FB Bancorp increased to $1.24 billion as of March 31, 2025, up from $1.22 billion at the end of 2024. This growth was attributed to a $13.7 million increase in loans held for investment and a $6.9 million rise in available-for-sale securities. Total deposits also saw a rise of $22.7 million, or 2.8%, reaching $823.4 million, with core deposits increasing to $492.6 million. The company’s equity increased by $5.1 million to $331.4 million, reflecting a strong capital position.

In terms of operational metrics, FB Bancorp's non-performing loans totaled $15.4 million, representing 2% of total loans, an increase from $9 million a year earlier. The allowance for credit losses was 0.80% of total loans, down from 0.88% in the previous year, indicating a slight improvement in asset quality. The company maintained a conservative approach to underwriting, which management believes will help sustain strong asset quality moving forward.

Strategically, FB Bancorp is focused on expanding its commercial real estate and commercial loan portfolios while continuing to grow its residential mortgage lending through its NOLA Lending division. The company has also been investing in its online banking infrastructure and plans to open a new branch in Lafayette, Louisiana, in the second half of 2025. Management anticipates that these initiatives, along with the capital raised from its recent stock offering, will support future growth and enhance shareholder value.

Looking ahead, FB Bancorp expects to continue its growth trajectory while managing interest rate risk and maintaining a strong liquidity position. The company is committed to enhancing its customer service and expanding its market presence, particularly in Baton Rouge and Lafayette, Louisiana. Management remains optimistic about the potential for future profitability, contingent on market conditions and the successful execution of its strategic initiatives.