GlobeNewswire·Oct 20, 2025, 9:00 AM ET

FFB Bancorp Announces Third Quarter 2025 Results

FFBB

FFB Bancorp reported third quarter 2025 net income of $6.24 million ($2.06 per diluted share), representing a 3% increase from the previous quarter but a 27% decrease from the same period in 2024.
For the nine months ended September 30, 2025, net income totaled $20.37 million ($6.57 per diluted share), down 17% compared to $24.43 million in the same period of 2024.
Total portfolio loans increased 3% to $1.12 billion quarter-over-quarter and 12% year-over-year, with commercial real estate loans comprising 63% of the total.
Total deposits increased 2% to $1.26 billion quarter-over-quarter but decreased 2% year-over-year, driven by strategic ISO partner exits that reduced non-interest bearing deposits.
Operating revenue decreased 14% to $23.49 million quarter-over-quarter and 8% year-over-year, primarily due to a 42% drop in merchant services revenue.
Net interest margin improved to 5.15%, reflecting higher loan yields offset by increased funding costs from a shift toward wholesale funding.
Non-interest expense decreased 9% to $14.27 million quarter-over-quarter but increased 12% year-over-year, driven by higher salaries, employee benefits, data, software, and professional fees.
The efficiency ratio was 60.76% for the quarter, while the adjusted efficiency ratio was 57.93%, reflecting elevated compliance-related costs.
Asset quality metrics showed nonperforming assets at $27.93 million (1.86% of total assets), with past due loans 90+ days rising to $966,000 due to the migration of one SBA guaranteed loan.
The company repurchased 61,028 shares for $4.77 million during the third quarter, fully utilizing its $15.0 million stock repurchase authorization announced earlier in 2025.
Shareholder equity increased 3% to $179.42 million quarter-over-quarter and 10% year-over-year, resulting in book value per share rising 6% to $60.04.
The Bank maintained well-capitalized status with a regulatory leverage ratio of 15.33% and a total risk-based capital ratio of 20.94%.
Management hired a Chief Banking Officer in the quarter to support disciplined growth strategies while addressing regulatory consent order requirements through enhanced compliance programs.