FB Bancorp Reports Q1 2026 Financial Results with Decreased Net Income

FB Bancorp, Inc. reported its financial results for the first quarter of 2026, revealing a net income of $119,000, a decrease from $705,000 in the same period last year. The company's total interest and dividend income increased to $16.4 million, up from $15.9 million, primarily driven by a significant rise in interest and dividends on investment securities, which rose by 43.8% to $3.3 million. However, net interest income remained relatively stable, decreasing slightly to $11.8 million from $11.9 million, as the provision for credit losses increased to $490,000 from $385,000, reflecting growth in the loan portfolio.

Total assets for FB Bancorp increased to $1.27 billion as of March 31, 2026, compared to $1.26 billion at the end of 2025. This growth was largely attributed to a $20.6 million increase in securities available for sale, which reached $346.9 million. Loans held for investment also saw a modest increase of $15.7 million, or 2.1%, totaling $753.4 million, with commercial real estate loans contributing significantly to this growth. Conversely, cash and cash equivalents decreased by 23.3% to $46.2 million, as funds were utilized for loan funding and stock repurchases.

In terms of operational developments, FB Bancorp's total deposits rose by $11.1 million, or 1.3%, to $852.5 million, with certificates of deposit increasing by 3.3%. The company has been focusing on expanding its presence in the Baton Rouge and Lafayette markets, which has included hiring new staff and establishing a branch office. As of March 31, 2026, the company had 19 offices and a total of 211 full-time equivalent employees, down from 325 a year earlier, reflecting the impact of the recent sale of its mortgage banking segment.

The company also reported a significant strategic shift with the sale of its mortgage banking segment, NOLA Lending Group, which was completed on March 1, 2026. This decision was made in response to declining mortgage volumes and is expected to streamline operations and reduce losses associated with that segment. The net loss from discontinued operations for the quarter was $375,000, an improvement from a loss of $665,000 in the prior year.

Looking ahead, FB Bancorp aims to continue its strategy of prudent growth in its commercial loan portfolio while maintaining strong asset quality. The company plans to invest in its online banking infrastructure and digital banking services to enhance customer engagement and attract new clients. Management remains optimistic about the future, despite the challenges posed by the current economic environment, and is committed to building long-term value for its shareholders.