FB Bancorp Inc MD
For the period ended Sep 30, 2024. Filed Nov 14, 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.
Sep 30, 2024 · Filed Nov 14, 2024
FBLA$16.50-2.1%Stored close · as of Nov 9, 2026
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Statements of Cash Flows
STATEMENTS OF CASH FLOWS (UNAUDITED)
| For the nine monthsended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| (dollars in thousands) | ||
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Net income (loss) | $(853) | $2,300 |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||
| Depreciation and amortization | 1,899 | 1,738 |
| (Gain) loss on sales and disposal of assets | (117) | 1 |
| Net (accretion) amortization on securities | (584) | (497) |
| Provision (benefit) for credit losses | 820 | 349 |
| Increase in cash surrender value of life insurance | (257) | (222) |
| Amortization of mortgage servicing rights | 397 | 1,574 |
| Federal Home Loan Bank stock dividends | (182) | (102) |
| Net gain on sales of available for sale securities | (285) | (203) |
| Net gain on sales of mortgage servicing rights | (2,584) | (4,738) |
| Deferred income taxes (benefit) | (101) | (544) |
| Net (increase) decrease in derivative instruments | (144) | (391) |
| Changes in other operating assets and liabilities | 1,118 | 265 |
| Loans held for sale: | ||
| Originations | (286,563) | (305,830) |
| Proceeds from sale | 283,877 | 301,254 |
| Gain on sale of loans, net | (10,706) | (9,932) |
| Net change in fair value | (583) | (73) |
| Net cash provided by (used in) operating activities | (14,848) | (15,051) |
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| Purchases of securities available for sale | (16,963) | (11,341) |
| Proceeds from maturities, prepayments, and sales of securities available for sale | 30,766 | 25,486 |
| Proceeds from sale of mortgage servicing rights | 4,194 | 10,000 |
| Purchase of FHLB stock | — | (1,387) |
| (Increase) decrease in loans held for investment, net | (67,838) | (89,469) |
| Purchases of premises and equipment | (3,476) | (5,786) |
| Proceeds from sale of other real estate owned | 598 | 114 |
| Net cash provided by (used in) investing activities | (52,719) | (72,383) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Net increase (decrease) in deposits | (17,324) | 1,815 |
| Net change in other borrowings | 41,800 | 90,100 |
| Net change in advances by borrowers for taxes and insurance | (4,545) | 5,840 |
| Tentative proceeds from stock conversion held in escrow | 254,072 | — |
| Net cash provided by (used in) financing activities | 274,003 | 97,755 |
| NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 206,436 | 10,321 |
| Cash and cash equivalents at beginning of period | 87,108 | 60,737 |
| Cash and cash equivalents at end of period | $293,544 | $71,058 |
| Supplemental Disclosures For Cash Flow Information: | ||
| Cash paid for interest on deposits and borrowings | $10,623 | $5,941 |
| Cash paid for income taxes | $1,244 | $— |
| Loans transferred to other real estate owned | $2,028 | $791 |
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