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GlobeNewswire·

FFB Bancorp Announces Second Quarter 2026 Results:

FFBB
  • FFB Bancorp reported second-quarter 2026 net income of $5.48 million ($1.88 per diluted share), up from $4.59 million in the first quarter of 2026 but down from $6.04 million in the second quarter of 2025.
  • Year-to-date net income through June 30, 2026, totaled $10.06 million ($3.40 per diluted share), a decrease from $14.13 million in the same period of 2025.
  • The total loan portfolio grew 4% quarter-over-quarter to $1.26 billion and increased 15% compared to the prior year.
  • Total deposits rose 3% to $1.38 billion from the previous quarter and increased 12% year-over-year.
  • Total assets increased 3% to $1.62 billion quarter-over-quarter and 10% compared to the prior year.
  • Operating revenue for the quarter was $24.05 million, a 5% increase from the previous quarter but a 12% decrease from the second quarter of 2025.
  • Net interest margin decreased 18 basis points to 4.71% from the previous quarter and 38 basis points from the prior year's quarter.
  • Provision for credit loss expense increased to $1.54 million from $776,000 in the previous quarter but decreased 51% from $3.16 million in the second quarter of 2025.
  • Nonperforming assets increased 27.44% to $44.24 million, driven primarily by two commercial and industrial relationships migrating to non-accrual.
  • Shareholder equity remained stable at $182.78 million, while book value per common share increased 3% to $63.80.
  • The company repurchased 91,577 shares for $7.84 million during the second quarter, bringing total repurchases to $13.23 million under the $15 million authorized plan.
  • Merchant services revenue increased 16% quarter-over-quarter to $2.91 million but decreased 56% year-over-year due to ISO partner exits.
  • Non-interest expense decreased 6% to $14.96 million quarter-over-quarter, driven by lower salaries and employee benefits, though professional fees increased 20%.
  • The efficiency ratio for the quarter was 62.20%, while the adjusted efficiency ratio was 59.96%.
  • Management noted progress on consent order matters while highlighting the need to reduce reliance on wholesale funding through core deposit growth.