First Seacoast Bancorp, Inc. reported its financial results for the third quarter of 2025, revealing a net income of $390,000, a significant increase from the $44,000 recorded in the same period last year. This improvement was primarily driven by a $465,000 rise in net interest and dividend income, which totaled $3.4 million for the quarter, alongside a $180,000 increase in non-interest income. However, non-interest expenses also rose by $268,000, reaching $4.2 million, which partially offset the gains. For the nine months ending September 30, 2025, the company experienced a net loss of $758,000, compared to a net income of $895,000 for the same period in 2024.
Total assets for First Seacoast Bancorp increased by 5.0% to $609.6 million as of September 30, 2025, up from $580.8 million at the end of 2024. This growth was attributed to a $12.5 million increase in cash and due from banks and a $22.3 million rise in securities available-for-sale, which reached $142.5 million. However, net loans decreased by $5.5 million to $430.0 million, reflecting a strategic shift towards higher-yielding commercial loans. The company’s allowance for credit losses on loans remained stable at $3.5 million.
In terms of operational metrics, First Seacoast Bancorp reported a total deposit increase of $25.8 million, or 5.7%, to $480.0 million, driven by a rise in both commercial and retail deposits. The bank's total stockholders' equity also saw a modest increase of $1.1 million, reaching $63.2 million, bolstered by other comprehensive income related to unrealized holding losses in the available-for-sale securities portfolio. The company’s employee headcount remained stable, supporting its operations across five full-service banking offices in New Hampshire.
Looking ahead, First Seacoast Bancorp aims to continue its focus on originating higher-yielding commercial real estate and commercial loans while managing interest rate risk. The company is also committed to maintaining a strong liquidity position, with sufficient funds to meet current obligations. The management remains cautious about potential economic fluctuations and their impact on loan performance and overall financial health, emphasizing the importance of strategic planning in navigating market conditions.
About First Seacoast Bancorp, Inc.
First Seacoast Bancorp, Inc. is a regional savings and loan holding company operating through First Seacoast Bank in New Hampshire and Maine. It offers residential, commercial, multi-family, land development, and consumer loans, along with wealth management services. The company focuses on community banking, personalized service, and local market expertise, competing in a highly competitive environment with a diversified loan portfolio and emphasis on local community development.
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