Quarterly ResultMay 6, 2026, 04:29 PM
FB Bancorp Q1 Net Income $119K; Mortgage Segment Sold
AI Summary
FB Bancorp, Inc. announced its first quarter 2026 financial results, reporting a net income of $119 thousand, a significant decrease from $705 thousand in the prior year. This quarter's results were impacted by a net loss from discontinued operations of $375 thousand, following the sale of its mortgage banking segment, NOLA Lending Group, which closed on March 1, 2026. The company also continued its share repurchase program, buying back 1.55 million shares during the period.
Key Highlights
- FB Bancorp reported Q1 2026 net income of $119 thousand, down from $705 thousand in Q1 2025.
- Net income from continuing operations was $494 thousand in Q1 2026, a decrease from $1.4 million in Q1 2025.
- Net loss from discontinued operations was $375 thousand in Q1 2026, improved from $665 thousand in Q1 2025.
- The sale of the NOLA Lending Group mortgage banking segment closed on March 1, 2026.
- The company repurchased 1,547,463 shares under its additional buyback program at an average price of $13.66.
- Total assets increased to $1.27 billion at March 31, 2026, from $1.26 billion at December 31, 2025.
- Loans held for investment increased by $15.8 million, or 2.12%, to $759.7 million.
- Total equity decreased by $16.7 million, or 5.32%, to $297.7 million due to buybacks and comprehensive loss.