GlobeNewswire·Apr 16, 2026, 4:00 PM ET

FFB Bancorp Announces First Quarter 2026 Results:

FFBB

FFB Bancorp reported net income of $4.59 million ($1.53 per diluted share) for Q1 2026, an increase from $3.21 million in Q4 2025 but a decrease from $8.10 million in Q1 2025.
The total loan portfolio grew 1% to $1.21 billion from the previous quarter and increased 11% year-over-year.
Provision for credit loss expense dropped 80% to $776,000 from the prior quarter and fell 33% compared to the same period last year, driven by $691,000 in net charge-offs.
Total deposits remained stable at $1.34 billion quarter-over-quarter and rose 2% year-over-year.
Net interest margin increased 5 basis points to 4.89% from the previous quarter but decreased 46 basis points compared to Q1 2025.
Operating revenue declined 2% to $22.91 million from Q4 2025 and dropped 20% from Q1 2025, primarily due to reduced gains on loan sales and investment income.
Merchant services revenue decreased 68% year-over-year to $2.50 million due to ISO partner exits, lower gross volumes, and revenue repricing.
Non-interest expense rose 8% to $15.98 million from the previous quarter, driven by a 21% increase in salaries and employee benefits linked to workforce growth to 199 full-time employees.
The Company redeemed $28.3 million in subordinated debentures during the quarter.
Share repurchases totaled $5.38 million for 62,767 shares under a plan authorized to spend up to $15.0 million.
Book value per common share increased to $61.85, reflecting a 11% year-over-year rise.
Nonperforming assets increased 25% to $34.71 million, or 2.21% of total assets, with $14.89 million covered by SBA guarantees.
Total risk-based capital ratio was 17.27% at March 31, 2026, exceeding regulatory minimums for well-capitalized status.
Management noted challenges in matching low-cost deposit growth to loan production while investing in technology, new FX payment products, and a small business lending platform.