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 Operations
STATEMENTSOF OPERATIONS (UNAUDITED)
| For the three monthsended September 30, | For the nine monthsended September 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| (dollars in thousands) · (dollars in thousands) | ||||
| Interest and dividend income | ||||
| Interest and fees on loans | $13,910 | $11,525 | $39,453 | $31,377 |
| Interest and dividends on investment securities | 2,265 | 2,291 | 6,912 | 6,897 |
| Interest on deposits in other banks | 734 | 404 | 1,676 | 1,036 |
| Total interest and dividend income | 16,909 | 14,220 | 48,041 | 39,310 |
| Interest expense | ||||
| Deposits | 3,031 | 2,286 | 8,311 | 4,259 |
| Borrowed funds | 2,455 | 1,095 | 6,489 | 1,907 |
| Total interest expense | 5,486 | 3,381 | 14,800 | 6,166 |
| Net interest income | 11,423 | 10,839 | 33,241 | 33,144 |
| Provision (benefit) for credit losses | 300 | 725 | 820 | 349 |
| Net interest income after provision (benefit) for credit losses | 11,123 | 10,114 | 32,421 | 32,795 |
| Non-interest income | ||||
| Service charges and fee income from deposit accounts | 700 | 757 | 2,221 | 2,431 |
| Gain on sales of mortgage loans | 3,939 | 3,206 | 10,706 | 9,932 |
| Gain (loss) on sales and disposal of assets | 117 | — | 117 | (1) |
| Gain (loss) on sales of available for sale securities | (24) | — | 285 | 203 |
| Gain on sales of mortgage servicing rights | 334 | 4,738 | 2,584 | 4,738 |
| Other non-interest income | 306 | 1,068 | 1,434 | 3,205 |
| Total non-interest income | 5,372 | 9,769 | 17,347 | 20,508 |
| Non-interest expenses | ||||
| Salaries and employee benefits | 10,745 | 10,610 | 31,215 | 31,619 |
| Occupancy and equipment | 2,027 | 2,018 | 6,105 | 6,040 |
| Directors’ fees | 162 | 205 | 466 | 600 |
| Data processing | 1,215 | 1,245 | 3,915 | 3,472 |
| Advertising and marketing | 404 | 433 | 1,632 | 1,287 |
| Mortgage servicing rights amortization | 94 | 515 | 397 | 1,574 |
| Hedging activity, net | 712 | (364) | 581 | (369) |
| Other general and administrative | 2,278 | 2,267 | 6,544 | 6,421 |
| Total non-interest expenses | 17,637 | 16,929 | 50,855 | 50,644 |
| Net income (loss) before income taxes | (1,142) | 2,954 | (1,087) | 2,659 |
| Income tax expense (benefit) | (247) | 545 | (234) | 359 |
| Net income (loss) | $(895) | $2,409 | $(853) | $2,300 |
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