FB Bancorp Inc MD
For the period ended Jun 30, 2024. Filed Sep 26, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Sep 26, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 1. Financial Statements
| Balance Sheets | 3 | |
| Statements of Operations | 4 | |
| Statements of Comprehensive Income (Loss) | 5 | |
| Statements of Changes in Equity | 6 | |
| Statements of Cash Flows | 7 | |
| Notes to the Financial Statements | 8 | |
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations | 30 |
|---|---|---|
| Item 3. | Quantitative and Qualitative Disclosures about Market Risk | 48 |
| Item 4. | Controls and Procedures | 48 |
| Part II. - Other Information | ||
| Item 1. | Legal Proceedings | 48 |
| Item 1A. | Risk Factors | 48 |
| Item 2. | Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities | 48 |
| Item 3. | Defaults Upon Senior Securities | 48 |
| Item 4. | Mine Safety Disclosures | 48 |
| Item 5. | Other Information | 48 |
| Item 6. | Exhibits | 49 |
| Signature Page | 50 | |
EXPLANATORY NOTE
FB Bancorp, Inc. (the “Company,” “we” or “us”) was incorporated on February 29, 2024, to serve as the bank holding company for Fidelity Bank (“Fidelity” or the “Bank”) upon the consummation of the Bank’s conversion from the mutual form of organization to the stock form of organization. As of June 30, 2024, the conversion had not yet been consummated and the Company had no assets or liabilities and had not conducted any business activities other than organizational activities. Accordingly, the financial statements, related notes, and other financial information included in this report relate primarily to the Bank.
The unaudited financial statements and other financial information contained in this report should be read in conjunction with the audited financial statements, and related notes, of the Bank as of and for each of the years ended December 31, 2023 and 2022, contained in the Company’s definitive prospectus dated August 12, 2024, as filed with the Securities and Exchange Commission ("SEC") on August 22, 2024.
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