FB Bancorp Reports $1.2 Million Net Income for Six Months Ended June 30, 2026

FB Bancorp, Inc. reported a net income of $1.2 million for the six months ended June 30, 2026, a decrease from $2.4 million during the same period in 2025. The decline in profitability was attributed to a significant increase in non-interest expenses, which rose by $2.8 million, or 12.81%, compared to the previous year. Total interest income increased slightly to $33.1 million, driven primarily by a $2.2 million rise in interest and dividends on investment securities. However, interest and fees on loans decreased by $580 thousand, reflecting a decline in the average balance of loans held for investment and a decrease in the average yield on these loans.

In terms of financial position, total assets decreased to $1.23 billion as of June 30, 2026, down from $1.26 billion at the end of 2025. This reduction was largely due to a $15.1 million decrease in cash and cash equivalents, which fell to $45.2 million. Conversely, securities available for sale increased by $11.7 million, or 3.58%, to $338 million, attributed to favorable investment yields. Loans held for investment remained relatively stable, increasing slightly by $1 million to $738.7 million, with notable growth in commercial real estate and consumer loans.

FB Bancorp's total deposits decreased by $30.4 million, or 3.62%, to $811 million, with core deposits declining by 5.64%. The company also saw a significant increase in borrowings, which rose by $32.9 million, or 42.08%, to $111.2 million, primarily to fund investment purchases and stock repurchases. The total equity of the company decreased by 9.74% to $283.8 million, mainly due to stock repurchases amounting to $27.6 million and an increase in accumulated other comprehensive loss.

Operationally, the company has focused on expanding its commercial loan portfolio and enhancing its digital banking capabilities. The number of full-time equivalent employees remained stable at 210, while the company continues to invest in its online banking infrastructure and digital banking services. The strategic decision to exit the mortgage banking segment, which resulted in a net loss from discontinued operations of $1.1 million for the six months ended June 30, 2026, is expected to reduce future losses as the company finalizes the unwinding of this segment.

Looking ahead, FB Bancorp aims to maintain its focus on prudent growth and diversification of its loan portfolio while managing interest rate risk and enhancing customer service. The company anticipates that its ongoing strategies will support its financial performance, although it remains cautious of potential economic challenges and market conditions that could impact its operations.