FB Bancorp (FBLA) investor relations material

Executive summary

• Net income from continuing operations was $494,000 for Q1 2026, down from $1.4 million in Q1 2025, primarily due to higher non-interest expenses and lower net interest income.

• Net income for Q1 2026 was $119,000, down from $705,000 in Q1 2025, reflecting a significant decrease due to higher non-interest expenses and a net loss from discontinued operations following the sale of the mortgage banking segment.

• The company completed the sale of its mortgage banking segment, NOLA Lending Group, on March 1, 2026, resulting in discontinued operations and a net loss of $375,000 from this segment for the quarter.

• Total assets increased to $1.27 billion as of March 31, 2026, up from $1.26 billion at year-end 2025, driven by growth in investment securities and loans.

Financial highlights

• Net interest income was $11.84 million, nearly flat year-over-year, as higher interest income was offset by increased interest expense.

• Net interest margin declined to 4.47% from 4.60% year-over-year.

• Non-interest income increased 5.3% to $1.11 million, mainly from higher deposit service charges.

• Non-interest expense rose 9.75% to $11.9 million, driven by higher salaries, benefits, occupancy, and marketing costs.

• Earnings per share from continuing operations were $0.03, down from $0.08 year-over-year.

Outlook and guidance

• Management expects continued reduction in revenues and expenses from discontinued operations as the mortgage banking segment is fully wound down over the next two quarters.

• Management expects advertising expenses to normalize after Q1 and continues to monitor credit pressures in residential real estate due to rising insurance costs.

• The company plans to continue expanding commercial lending and core deposit growth, with a focus on digital banking and new market penetration.

• Forward-looking statements highlight risks from economic conditions, interest rates, competition, and regulatory changes.