GlobeNewswire·Oct 27, 2026, 4:00 PM ET

FFB Bancorp Reports Third Quarter 2026 Results, Highlighting 16% Year-Over-Year Core Deposit Growth and Improved Funding Mix

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FFB Bancorp reported third-quarter 2026 net income of $4.62 million ($1.61 per diluted share), down from $5.48 million ($1.88 per share) in the second quarter of 2026 and $6.24 million ($2.06 per share) in the same quarter of 2025.
For the nine months ended September 30, 2026, net income totaled $14.68 million ($5.02 per diluted share), compared to $20.37 million ($6.57 per share) in the prior year period.
Total assets increased 5% to $1.70 billion quarter-over-quarter and 13% year-over-year, while the total loan portfolio rose $2.21 million to $1.26 billion.
Total deposits grew 9% to $1.50 billion from the previous quarter and 19% year-over-year, with non-interest bearing deposits representing 54% of the total.
The company redeemed $10.00 million in subordinated debentures, fully retiring its remaining long-term debt.
Operating revenue remained stable at $24.17 million quarter-over-quarter but increased 3% year-over-year, driven by loan interest income despite declines in merchant services revenue.
Net interest margin increased 2 basis points to 4.73% compared to the previous quarter but decreased 42 basis points from the prior year due to increased reliance on wholesale funding.
Provision for credit losses rose to $2.34 million from $1.54 million in the prior quarter, reflecting elevated charge-offs including $6.41 million in net charge-offs for the quarter.
Nonperforming assets declined 21% to $35.16 million, with $24.30 million of remaining nonperforming loans covered by SBA guarantees.
Shareholder equity decreased 4% to $176.32 million, resulting in a book value per share of $61.95, a 3% decrease from the previous quarter.
The stock repurchase plan authorized in January 2026 was fully exhausted, with 174,554 shares repurchased at an average price of $85.85, costing approximately 8.50% of total shareholders' equity.
Salaries and employee benefits increased 18% year-over-year to $9.05 million due to headcount growth to 197 full-time employees and increased incentive compensation.
The efficiency ratio was 64.19% for the quarter, while the adjusted efficiency ratio was 62.26%, reflecting higher operating expenses from talent investments offset by lower merchant services costs.
Asset quality metrics showed a 21% reduction in nonperforming assets, though delinquent loans increased to $6.48 million due to the migration of certain SBA relationships.
The Company maintains strong capital positions with a regulatory leverage capital ratio of 11.55% and a total risk-based capital ratio of 15.91% at September 30, 2026.
Liquidity resources increased to $897.33 million quarter-over-quarter, driven by expanded Federal Reserve discount window capacity after eliminating short-term borrowings.