Welcome to our dedicated page for Ffb Bancorp news (Ticker: FFBB), a resource for investors and traders seeking the latest updates and insights on Ffb Bancorp stock.
FFB Bancorp (FFBB) operates as a bank holding company delivering retail and commercial banking services with a focus on disciplined balance sheet management and asset quality. This page serves as the definitive source for official company announcements, providing stakeholders with timely updates on material developments.
Access curated press releases and news articles covering earnings reports, regulatory filings, leadership changes, and strategic initiatives. Investors gain insights into FFBB's financial stewardship through updates on credit portfolio performance, capital allocation decisions, and compliance milestones.
Key news categories include quarterly earnings disclosures, merger/acquisition activity, dividend declarations, and risk management practices. Each update is sourced from verified channels to ensure accuracy and relevance for financial analysis.
Bookmark this page for streamlined monitoring of FFBB's operational trajectory within the competitive banking sector. Return regularly to stay informed about developments impacting the company's market position and long-term value creation.
FFB Bancorp (OTCQX: FFBB) reported strong Q1 2025 financial results with net income of $8.10 million, or $2.55 per diluted share, up 4% from Q1 2024. Operating revenue increased 21% to $28.48 million, driven by loan portfolio growth and improved merchant services revenue.
Key highlights include: net interest margin expansion to 5.35%, total assets growth of 12% to $1.56 billion, and total deposits increase of 10% to $1.32 billion. The loan portfolio grew 18% to $1.09 billion, while shareholder equity rose 26% to $174.71 million.
The company's ongoing stock repurchase program has acquired 41,915 shares at an average price of $81.60, totaling $3.42 million. Two new directors, Linda Emtman and Miles Mahoney, joined the board, expanding it to 11 members.
FFB Bancorp (FFBB) reported Q4 2024 net income of $9.72 million ($3.05 per diluted share), up 13% from Q3 2024 and 28% from Q4 2023. Full-year 2024 net income reached $34.15 million ($10.72 per diluted share), compared to $33.56 million in 2023.
Key Q4 2024 metrics include: pre-tax income up 33% to $14.98 million, ROAE of 23.11%, ROAA of 2.53%, and net interest margin of 5.24%. Total assets grew 10% to $1.51 billion, with loans up 15% to $1.07 billion and deposits up 12% to $1.28 billion.
The company entered into a Consent Order with FDIC addressing AML/CFT program issues. As a result, FFB anticipates exiting several ISO relationships in Q2 2025, impacting $156 million in deposits and $3.6 million in net revenue. The company announced a $15 million stock repurchase program starting January 27, 2025.
FFB Bancorp (OTCQX: FFBB), parent company of FFB Bank, reported a net income of $8.56 million, or $2.69 per diluted share, for Q3 2024, up 6% from Q2 2024 but down 3% from Q3 2023. For the nine months ended September 30, 2024, net income was $24.43 million, compared to $25.99 million for the same period in 2023.
Key highlights include a 14% increase in gross revenue to $25.40 million and a 16% rise in total assets to $1.51 billion compared to Q3 2023. The total loan portfolio grew 11% to $998.22 million, and total deposits increased 14% to $1.29 billion. Shareholder equity rose 45% to $163.64 million, with a book value per share of $51.51.
The net interest margin contracted by 9 basis points to 5.11%, while non-interest income increased 18% to $7.62 million. Non-interest expenses rose 28% to $12.74 million, primarily due to higher salaries and employee benefits. The efficiency ratio was 50.16%, and the adjusted efficiency ratio was 44.75%.
FFB Bancorp also launched the first phase of a new CFT/AML/Fraud monitoring system, aimed at enhancing transaction monitoring capabilities.
FFB Bancorp reported net income of $8.08 million, or $2.54 per diluted share, for Q2 2024, a 14% decrease from $9.42 million, or $2.97 per diluted share, from Q2 2023. Net income increased 4% from Q1 2024. For the first half of 2024, net income fell 7% to $15.87 million.
Key metrics include:
- Pre-tax, pre-provision income: decreased 17% to $11.44 million.
- ROAE: 22.89%.
- ROAA: 2.31%.
- Net interest margin: expanded 20 basis points to 5.31%.
- Total assets and loans: increased 11%.
- Shareholder equity: increased 36% to $148.64 million.
- Book value per share: increased 36% to $46.79.
Challenges included rising funding costs and decreased non-interest income and merchant services revenue.
As of June 30, 2024, total deposits were $1.17 billion, decreasing 3% from Q1 2024. Nonperforming assets rose to $11.25 million, or 0.78% of total assets, from $7.16 million in Q1 2024.
FFB Bancorp announced a stock repurchase program authorized by its Board of Directors to buy back up to $7.5 million of its common stock, roughly 5.4% of its shareholders' equity as of March 31, 2024.
The repurchases can be made through October 25, 2024, via open market purchases, privately negotiated transactions, or a trading plan under SEC Rule 10b5-1.
The timing, manner, price, and amount of repurchases will be determined by the Company based on stock performance, market conditions, and regulatory requirements.
Management believes this plan offers capital management opportunities but is not obligated to repurchase any shares and may alter the plan at any time.
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