FFB Bancorp Announces Third Quarter 2025 Results

Rhea-AI Summary

FFB Bancorp (OTCQX: FFBB) reported Q3 2025 net income $6.24M or $2.06 diluted EPS versus $6.04M ($1.94) in Q2 2025 and $8.56M ($2.69) in Q3 2024. Book value per share rose to $60.04 (+6% vs. prior quarter; +17% YoY). Net interest margin was 5.15% (up 6 bps QoQ). Operating revenue declined to $23.49M (‑14% QoQ, ‑8% YoY) driven by lower merchant services income. Total loans were $1.12B (+3% QoQ; +12% YoY) and deposits were $1.26B (+2% QoQ; ‑2% YoY). Tangible common equity was 11.97%; regulatory leverage 15.33%; total risk‑based capital 20.94%. The company fully utilized a $15.0M buyback, repurchasing 194,049 shares.

Positive

• Book value per share +6% quarter and +17% year-over-year
• Total portfolio of loans +3% quarter and +12% year-over-year
• Completed $15.0M share buyback; 194,049 shares repurchased
• Net interest margin 5.15%, up 6 basis points from prior quarter
• Tangible common equity ratio 11.97% and strong risk-based capital 20.94%

Negative

• Operating revenue down 14% quarter and 8% year-over-year to $23.49M
• Merchant services revenue declined 42% year-over-year and 51% quarter-over-quarter
• Pre-tax, pre-provision income down 20% quarter and 27% year-over-year
• Efficiency ratio widened to 60.76% from 50.16% a year earlier

FRESNO, Calif., Oct. 20, 2025 (GLOBE NEWSWIRE) -- FFB Bancorp (the “Company”) (OTCQX: FFBB), the parent company of FFB Bank (the “Bank”), today reported net income of $6.24 million, or $2.06 per diluted share, for the third quarter of 2025, compared to $6.04 million, or $1.94 per diluted share, for the second quarter of 2025, and $8.56 million, or $2.69 per diluted share, for the third quarter of 2024.

For the nine months ended September 30, 2025, net income was $20.37 million, or $6.57 per diluted share, compared to $24.43 million, or $7.68 per diluted share, for the same period in 2024. All results are unaudited.

Third Quarter 2025 Summary: As of, or for the quarter ended September 30, 2025, compared to the quarter ended June 30, 2025 and September 30, 2024, respectively:

• Book value per common share increased 6% to $60.04, when compared to the previous quarter, and increased 17% from the same quarter of the prior year.
• Net interest margin of 5.15% improved 6 basis points from the previous quarter, and 4 basis points from the same quarter of the prior year.
• Operating revenue (net interest income, before the provision for credit losses, plus non-interest income) decreased 14% to $23.49 million from the previous quarter, and decreased 8% when compared to the same quarter of the prior year.
• Pre-tax, pre-provision income decreased 20% to $9.22 million from the previous quarter, and decreased 27% when compared to the same quarter of the prior year.
• Net income increased 3% to $6.24 million from the previous quarter, and decreased 27% when compared to the same quarter of the prior year.
• Total assets increased 2% to $1.50 billion from the previous quarter, and decreased 1% when compared to the same quarter of the prior year.
• Total portfolio of loans increased 3% to $1.12 billion from the previous quarter, and increased 12% when compared to the same quarter for the prior year.
• Total deposits increased 2% to $1.26 billion from the previous quarter, and decreased 2% when compared to the same quarter of the prior year.
• Shareholder equity increased 3% to $179.42 million from the previous quarter, and increased 10% when compared to the same quarter for the prior year.
• Return on average equity (“ROAE”) was 14.13%.
• Return on average assets (“ROAA”) was 1.67%.
• The Company’s tangible common equity ratio was 11.97%, while the Bank’s regulatory leverage capital ratio was 15.33%, and the total risk-based capital ratio was 20.94% at September 30, 2025.

“During the quarter we saw growth in the loan and deposit portfolios and continued to execute on our strategic plan, which includes technology and product and process improvement,” said Steve Miller, President & CEO. “In addition, we hired a Chief Banking Officer during the third quarter, further strengthening our leadership team and supporting our focus on executing a disciplined growth strategy. This role will be pivotal in driving sales performance, implementing more effective product cross-selling, attracting and developing future talent, and positions us to better capture business opportunities in our regions."

Update on Stock Repurchase Program:

On January 22, 2025, the Company announced that it had authorized a plan to utilize up to $15.0 million of capital to repurchase shares of the Company’s common stock. As of September 30, 2025, the Company had fully utilized the $15.0 million authorization, repurchasing a total of 194,049 shares at an average price of $77.21. The repurchases represent approximately 7.73% of total shareholders' equity at September 30, 2025.

During the third quarter of 2025 the Company repurchased 61,028 shares, at an average price of $78.11, totaling $4.77 million. These repurchases represented approximately 2.49% of total shareholders' equity at September 30, 2025.

Results of Operations

Quarter ended September 30, 2025:

Operating revenue, consisting of net interest income before the provision for credit losses and non-interest income, decreased 8% to $23.49 million for the third quarter of 2025, compared to $25.40 million for the third quarter a year ago, and decreased 14% from $27.35 million for the second quarter of 2025. The decreases noted are the result of the decrease in non-interest income, primarily merchant services income.

Net interest income, before the provision for credit losses, increased 2% to $18.05 million for the third quarter of 2025, compared to $17.79 million for the same quarter a year ago, and decreased $52,000 from $18.11 million from last quarter. “Net interest income has benefited from strong loan portfolio growth, partially offset by higher funding costs,” said Bhavneet Gill, Chief Financial Officer. "We have been able to capitalize on a higher yielding loan portfolio, but interest income was impacted by a decrease in investment income resulting from sales in the previous quarter."

The Company’s net interest margin (“NIM”) increased by 4 basis points to 5.15% for the third quarter of 2025, compared to 5.11% for the third quarter of 2024, and increased 6 basis points from 5.09% for the preceding quarter. “The increase in NIM is the result of retaining net interest income production, through higher yields, while average earnings assets have decreased. During the quarter, average non-interest bearing deposits decreased $61.61 million. The resulting shift in the deposit portfolio saw the cost of deposits increase 9 basis points,” noted Gill.

The yield on earning assets was 6.29% for the third quarter of 2025, compared to 6.15% for the third quarter a year ago, and 6.18% for the previous quarter. The cost to fund earning assets increased to 1.13% for the third quarter of 2025 compared to 1.09% for the previous quarter, and 1.04% for the same quarter a year earlier. This increase is the result of an increased reliance on wholesale funds during the quarter due to ISO deposit outflow that occurred in early June. As deposits for new and existing Bank customers, and existing ISO partners, increase over the next few quarters Management intends to reduce reliance on wholesale funding.

Total non-interest income was $5.44 million for the third quarter of 2025, compared to $7.62 million for the third quarter of 2024, and $9.24 million for the previous quarter. The decrease in non-interest income was primarily driven by a decrease in merchant services revenue, and lower gain on the sale of loans.

Merchant services revenue decreased 42% to $3.21 million for the third quarter of 2025, compared to $5.57 million from the third quarter of 2024. The decrease over prior year was attributed to planned ISO partner exits in the second and third quarter of 2025 and lower gross volume and revenue related to FFB Payments. Merchant services revenue decreased 51% from $6.61 million when compared to the second quarter of 2025 as a result of seasonal volume decreases related to the sports gaming vertical and the loss of a significant FFB Payments direct merchant in the previous quarter.

During the first and second quarters of 2025, ISO Partner Sponsorship volumes included $2.78 billion and $2.56 billion in volume, respectively, for the ISO partners that exited in the second quarter of 2025. Additionally, the first and second quarters of 2025 included ISO Partner Sponsorship revenues of $990,000 and $1.09 million, respectively, from the ISO partners that exited in the second quarter of 2025. "These ISO exits were driven by our efforts to comply with the Consent Order and designed to ensure best in class oversight. We anticipate replacing this volume and revenue through growth in FFB Payments and with our remaining ISO partners as we move forward," said Miller. "Our Board of Directors recently approved an updated Merchant Services policy allowing the onboarding of new merchants in high-risk customer verticals. The new policy will enable FFB Payments and our remaining ISO partners to once again support all risk tiers in the payment space, while adhering to best in class compliance and AML/CFT standards."

Merchant ISO Processing Volumes (in thousands)
Source	Q3 2025			Q2 2025			Q1 2025			Q4 2024			Q3 2024
ISO Partner Sponsorship		3,099,287			5,347,695			5,007,998			4,891,643			4,556,868
FFB Payments- Sub-ISO Merchants		19,023			20,766			21,551			22,950			24,661
FFB Payments - Direct Merchants		28,573			71,746			97,095			91,133			64,512
Total volume		3,146,883			5,440,207			5,126,644			5,005,726			4,646,041

Merchant ISO Processing Revenues (in thousands)
Source of Revenue	Q3 2025			Q2 2025			Q1 2025			Q4 2024			Q3 2024
Net Revenue*:
ISO Partner Sponsorship	$	1,937		$	2,654		$	2,410		$	2,535		$	2,284
Gross Revenue:
FFB Payments- Sub-ISO Merchants		633			727			745			764			810
FFB Payments - Direct Merchants		640			3,228			4,709			4,262			2,476
		1,273			3,955			5,454			5,026			3,286
Gross Expense:
FFB Payments- Sub-ISO Merchants		780			708			616			638			723
FFB Payments - Direct Merchants		801			2,179			2,558			2,511			1,766
		1,581			2,887			3,174			3,149			2,489
Net Revenue:
FFB Payments- Sub-ISO Merchants		(147	)		19			129			126			87
FFB Payments - Direct Merchants		(161	)		1,049			2,151			1,751			710
FFB Payments Net Revenue		(308	)		1,068			2,280			1,877			797
Net Merchant Services Income:	$	1,629		$	3,722		$	4,690		$	4,412		$	3,081

*ISO Partnership Sponsorship is recognized net of expense in Merchant Services Income. FFB Payments revenues are recognized on a gross basis in Merchant Services Income and Merchant Services expenses are recognized in Non-Interest Expense.

Total deposit fee income decreased 3% to $812,000 for the third quarter of 2025, compared to $837,000 for the third quarter of 2024, and decreased 5% from $854,000 for the previous quarter.

There was a $361,000 gain on the sale of loans during the third quarter of 2025, compared to a gain on the sale of loans of $636,000 during the third quarter 2024, and a gain on the sale of loans of $1.45 million in the previous quarter. There were no investment sales during the third quarter of 2025, and therefore, there was no loss on the sale of investments recorded, compared to a $16,000 gain recorded during the third quarter of 2024, and a $243,000 loss recorded in the previous quarter. The gain on the sale of loans during the quarter was the result of $4.77 million in SBA loan sales.

Non-interest expense decreased 9% to $14.27 million for the third quarter of 2025, compared to $15.77 million from the previous quarter, and increased 12%, compared to the $12.74 million recorded for the third quarter 2024. The increase on a year-over-year comparison was driven by increases in salaries and employee benefits expense, and increases in other operating expense, primarily data and software related expenses and professional fees. Compared to the second quarter of 2025 the decrease in non-interest expense was attributed to a decrease in merchant services operating expenses and salaries and employee benefit expense.

Salaries and employee benefits increased 19% to $7.67 million for the third quarter of 2025, compared to $6.47 million for the third quarter 2024. The increase year-over-year was primarily the result of expense associated with the increase in full-time employees. Full-time employees increased to 180 at September 30, 2025, compared to 163 full-time employees a year earlier. Total salaries and employee benefits decreased 4% from $8.00 million in the previous quarter.

Occupancy and equipment expenses increased 22% from a year ago, representing 3% of non-interest expense, and increased 30% from the previous quarter. These increases are the result of increases in depreciation and utilities expense. Merchant operating expense totaled $1.58 million for the third quarter of 2025, compared to $2.49 million for the third quarter of 2024 and $2.89 million for the previous quarter. The decrease in merchant operating expense is attributed to fluctuations in volume and revenue for the FFB Payments lines of business. Merchant operating expenses include interchange fees, chargebacks, partnership fees, and other card brand fees.

Other operating expense increased 34% or $1.17 million to $4.57 million from a year earlier and increased $41,000 from the previous quarter. The year-over-year increase was driven by increases of $294,000 in data and software related expense, $546,000 in professional fees, $145,000 in regulatory assessment expense, and $82,000 in operating losses. The increase in data and software expense and professional fees, which include legal, audit, and consulting fees, are primarily due to actions taken to enhance the Company's AML/CFT, compliance, and merchant services programs.

The efficiency ratio was 60.76% for the third quarter of 2025, compared to 50.16% for the same quarter a year ago, and 57.15% for the previous quarter, which is the result of increases in other operating expenses. Additionally, the efficiency ratio can fluctuate period-over-period based on changes in merchant services' gross revenues and associated expenses. The Company also calculates an adjusted efficiency ratio where the merchant services' gross expense, which is included in non-interest expense, is netted against merchant services' revenue in non-interest income. The adjusted efficiency ratio was 57.93% for the third quarter of 2025, compared to 44.75% for the same quarter a year ago, and 52.14% for the previous quarter.

“We continue to make intentional investments in people and technology to ensure that the bank can efficiently scale moving forward, and specifically to support our payment ecosystem, product development, regional expansion, and compliance/risk management initiatives. We saw elevated legal, audit, and technology related expenses throughout the year mostly related to addressing the Consent Order,” said Miller.

Nine months ended September 30, 2025:

For the nine months ended September 30, 2025, operating revenue increased 8% to $79.32 million, compared to $73.74 million for the same period in 2024. For the nine months ended September 30, 2025, net interest income before the provision for credit losses increased 7% to $55.06 million, compared to $51.23 million for the same period in 2024. The increase in revenue is attributed to growth in the loan portfolio, partially offset by a decrease in investment interest income. For the nine months ended September 30, 2025, the yield on earning assets was 6.26% compared to 6.06% for the same period in 2024, while the cost to fund earning assets was 1.06% for the nine months ended September 30, 2025, compared to 1.02% for the same period in 2024.

For the nine months ended September 30, 2025, non-interest income increased 8% to $24.26 million compared to $22.51 million for the same period in 2024. Deposit fee income increased 1% to $2.52 million resulting from growth in business demand deposit accounts. The year-over-year growth in non-interest income was also attributed to the decrease in loss on sale of investments and an increase in the gain on sale of loans.

For the nine months ended September 30, 2025, operating expenses increased by 20% to $46.51 million from $38.72 million for the same period in 2024. Salaries and employee benefits expense increased 20% to $23.73 million as a result of the increase in FTE. There was a 2% increase in merchant services operating expenses, to $7.64 million, which represents 16% of total operating expenses for nine months ended September 30, 2025. Other operating expenses increased 37% to $13.98 million due to a $1.00 million increase in technology related expenses, increases of $1.23 million in professional fees, $350,000 in marketing expense, and $376,000 in operational losses.

For the nine months ended September 30, 2025, the efficiency ratio was 58.46%, compared to 51.93% for the same period ended September 30, 2024. The adjusted efficiency ratio was 54.04%, compared to 46.55% for the same period ended September 30, 2024.

Balance Sheet Review

Total assets decreased 1% to $1.50 billion at September 30, 2025, compared to $1.51 billion at September 30, 2024, and increased 2% compared to $1.47 billion at June 30, 2025.

The total loan portfolio increased 12%, or $123.70 million, to $1.12 billion, compared to $998.22 million at September 30, 2024, and increased 3% from the $1.09 billion reported at June 30, 2025.

Commercial real estate loans increased 16% year-over-year to $709.89 million, representing 63% of total loans at September 30, 2025. The CRE portfolio includes approximately $279.50 million in multi-family loans originated by the Southern California team that the Company may consider selling at some point in the future for liquidity and concentration management. The multi-family portfolio includes $87.69 million in short-term bridge loans for transitional projects of multi-family properties. The short-term bridge loans are conservatively underwritten with minimum DSCR and liquidity requirements.

The real estate construction and land development loan portfolio decreased 49% from a year ago to $17.36 million, representing 2% of total loans, while residential RE 1-4 family loans totaled $20.36 million, or 2% of loans, at September 30, 2025, compared to $18.04 million one year ago.

The commercial and industrial (C&I) portfolio increased 13% to $269.90 million, at September 30, 2025, compared to $238.63 million a year earlier, and increased 1% from $266.81 million at June 30, 2025. C&I loans represented 24% of total loans at September 30, 2025.

Agriculture loans of $103.98 million represented 9% of the loan portfolio at September 30, 2025. At September 30, 2025, the SBA, USDA, and other government agencies guaranteed loans totaled $57.61 million, or 5.1% of the loan portfolio.

At September 30, 2025, loans held for sale totaled $23.46 million. These sales are expected to close early in the fourth quarter, and are the result of the timing needed to complete the transaction.

Investment securities totaled $248.28 million at September 30, 2025, compared to $345.43 million a year earlier, and decreased $5.90 million from $254.18 million at June 30, 2025. At September 30, 2025, the Company had a net unrealized loss position on its investment securities portfolio of $20.37 million, compared to a net unrealized loss of $25.41 million at June 30, 2025. The Company’s investment securities portfolio had an effective duration of 6.17 years at September 30, 2025, compared to 6.26 years at June 30, 2025.

Total deposits decreased 2%, or $28.69 million, to $1.26 billion at September 30, 2025, compared to $1.29 billion from a year earlier, and increased $23.61 million from $1.23 billion at June 30, 2025. Non-interest bearing demand deposits decreased 8% to $758.24 million at September 30, 2025, compared to $826.71 million at September 30, 2024, and decreased $1.06 million from $759.30 million at June 30, 2025. Non-interest bearing demand deposits represented 60% of total deposits at September 30, 2025. During the third quarter of 2025 non-interest bearing demand deposits were reduced by $4.95 million due to strategic ISO partner exits. Certificates of deposits increased 2%, or $3.40 million, during the quarter.

Included in non-interest bearing deposits at September 30, 2025 are $79.89 million from ISO partners for merchant reserves, $18.91 million from ISO partners for settlement, and $13.11 million in ISO partner operating accounts, totaling $111.91 million. These deposits represent 14.8% of non-interest bearing deposits and 8.9% of total deposits.

Within the $111.91 million in ISO partner deposits retained as of September 30, 2025 are $24.61 million in deposits for ISO partners exiting in the fourth quarter of 2025. The Bank plans to replace these non-interest bearing deposits with growth from new Bank customers in its markets and from the existing ISO partners it will continue to support.

There was $7.00 million in short-term borrowings at September 30, 2025, compared to no borrowings at September 30, 2024, and $16.00 million at June 30, 2025. The Company primarily utilizes FHLB advances and the Federal Reserve discount window for short-term borrowings. The following table summarizes the Company's primary and secondary sources of liquidity which were available at September 30, 2025:

Liquidity Source (in thousands)	September 30, 2025			June 30, 2025
Cash and cash equivalents	$	58,286		$	77,244
Unpledged investment securities, fair value		63,032			67,952
FHLB advance capacity		295,815			293,198
Federal Reserve discount window capacity		160,264			162,755
Correspondent bank unsecured lines of credit		71,500			71,500
	$	648,897		$	672,649

The total primary and secondary liquidity of $648.90 million at September 30, 2025 represents a decrease of $23.75 million in primary and secondary liquidity quarter-over-quarter.

Shareholders’ equity increased 10% to $179.42 million at September 30, 2025, compared to $163.64 million from a year ago, and increased 3% from the $173.91 million reported at June 30, 2025. Book value per common share increased 17% to $60.04, at September 30, 2025, compared to $51.52 at September 30, 2024, and increased 6% from $56.87 at June 30, 2025. The tangible common equity ratio was 11.97% at September 30, 2025, compared to 10.82% a year earlier, and 11.80% at June 30, 2025. Book value improved as a result of quarterly net income and a reduction in shares outstanding through share repurchases.

At the Bank level, unrealized losses and gains reflected in AOCI are not included in regulatory capital. As a result, Tier-1 capital at the Bank for regulatory purposes was $229.26 million at quarter end excluding the unrealized loss. The regulatory leverage capital ratio was 15.33% for the current quarter, while the total risk-based capital ratio was 20.94%, exceeding regulatory minimums to be considered well-capitalized.

Asset Quality

Nonperforming assets, which consists of nonperforming loans and other real estate owned, increased 2.54% to $27.93 million, or 1.86% of total assets, at September 30, 2025, compared to $27.23 million, or 1.85% of total assets, from the previous quarter. Of the $26.95 million in nonperforming loans, $11.64 million are covered by SBA guarantees. Total delinquent loans increased to $7.53 million at September 30, 2025, compared to $2.86 million at June 30, 2025.

Past due loans 30-60 days were $6.21 million at September 30, 2025, compared to $1.80 million at June 30, 2025, and $1.65 million at September 30, 2024. There were $355,000 in past due loans from 60-90 days at September 30, 2025, compared to $1.02 million at June 30, 2025 and $1.39 million in past due loans from 60-90 days a year earlier. Past due loans 90+ days at quarter end totaled $966,000 at September 30, 2025, compared to $46,000 at June 30, 2025 and $322,000 at September 30, 2024. The increase in loans past due 90+ days is the result of the migration of one SBA guaranteed loan.

Of the $7.53 million in past due loans at September 30, 2025, $1.17 million were purchased government guaranteed loans, which are guaranteed by the SBA for the full payment of the principal plus interest.

Delinquent Loan Summary (in thousands)	Organic			Purchased Govt. Guaranteed			Total
Delinquent accruing loans 30-59 days	$	6,006		$	204		$	6,210
Delinquent accruing loans 60-89 days		355			—			355
Delinquent accruing loans 90+ days		—			966			966
Total delinquent accruing loans	$	6,361		$	1,170		$	7,531
Non-Accrual Loan Summary (in thousands)	Organic			Purchased Govt. Guaranteed			Total
Loans on non-accrual	$	26,949		$	—		$	26,949
Non-accrual loans with SBA guarantees		11,641			—			11,641
Net Bank exposure to non-accrual loans	$	15,308		$	—		$	15,308

There was a $687,000 provision for credit losses in the third quarter of 2025, compared to $762,000 provision for credit losses in the third quarter a year ago, and a $3.16 million provision for credit losses booked in the second quarter of 2025. The provision recorded during the third quarter of 2025 is the result of portfolio growth and net charge-offs recognized.

The ratio of allowance for credit losses to total loans was 1.36% at September 30, 2025, compared to 1.15% a year earlier and 1.40% at June 30, 2025. The Company individually evaluates non-accrual loans in the allowance for credit losses which has resulted in carrying a higher level of reserve.

As of September 30, 2025 the Bank carried $978,000 in other real estate owned ("OREO"). This OREO was the result of a loan foreclosure completed during the second quarter of 2025 where the bank acquired a single-family-residence property as payment through collateral. The property is in good condition and is anticipated to sell during the fourth quarter of 2025.

"As SBA loans have historically been the primary driver of nonperforming loans, the portfolio is monitored very closely. Rates have increased rapidly in recent years putting pressure on borrowers. A majority of the loans within the portfolio are floating rate loans tied to WSJ Prime and reset quarterly. Borrowers saw an additional 25bps rate reduction during the quarter and may see further reductions going in to 2026,” added Miller. “The ratio of allowance for credit losses to the total, non-guaranteed, loan portfolio was 1.44%, as of September 30, 2025, and our total non-guaranteed exposure on these SBA loans is $46.40 million spread over 230 loans.”

“We incurred net charge offs of $571,000 during the current quarter, compared to $4,000 in net recoveries in the third quarter a year ago, and $605,000 in net charge offs in the previous quarter. The charge-offs recognized in the quarter were primarily attributed to several unsecured small business loans,” said Miller. “Our loan portfolio increased 12% from a year ago with commercial real estate (“CRE”) loans representing 63% of the total loan portfolio. Within the CRE portfolio, there are $48.24 million in loans for CRE office as shown in the table below. Since the majority of our CRE office exposure is concentrated in the Central Valley, we are experiencing less volatility than city center CRE markets. Our credit metrics remain strong as we continue to maintain conservative underwriting standards.”

(in thousands)	CRE Office Exposure of September 30, 2025
Region	Owner-Occupied			Non-Owner Occupied			Total
Central Valley	$	24,132		$	17,081		$	41,213
Southern California		2,252			349			2,601
Other California		3,487			415			3,902
Total California		29,871			17,845			47,716
Out of California		—			520			520
Total CRE Office	$	29,871		$	18,365		$	48,236

About FFB Bancorp

FFB Bancorp, formerly Communities First Financial Corporation, a bank holding company established in 2014, is the parent company of FFB Bank, founded in 2005 in Fresno, California. As a leading SBA Lender in California’s Central Valley and one of the few direct acquiring banks in the United States, FFB Bank offers clients a range of personal and business checking accounts, payment processes, and loan programs. Among the Bank’s awards and accomplishments, it was ranked #1 on American Banker’s list of the Top 20 Publicly Traded Banks under $2 Billion in Assets for 2024. The Bank was also ranked by S&P Global as the #34 best performing US community bank under $3 billion in assets. The Company has also received recognition as part of the OTCQX Best 50 Companies for 2019, 2023, and 2024. For additional information, you can visit the Company’s website at www.ffb.bank or by contacting a representative at 559-439-0200.

Forward Looking Statements

This earnings release may contain forward-looking statements. Forward-looking statements provide current expectations or forecasts of future events and are not guarantees of future performance, nor should they be relied upon as representing management’s views as of any subsequent date. The forward-looking statements are based on managements’ expectations and are subject to a number of risks and uncertainties. Although management believes that the expectations reflected in such forward-looking statements are reasonable, actual results may differ materially from those expressed or implied in such statements. Risks and uncertainties that could cause actual results to differ materially include, without limitation, the Company’s ability to effectively execute its business plans; the impact of the Consent Order on our financial condition and results of operations; changes in general economic and financial market conditions; changes in interest rates, and in particular, actions taken by the Federal Reserve to try and control inflation; changes in the competitive environment; continuing consolidation in the financial services industry; new litigation or changes in existing litigation; losses, customer bankruptcy, claims and assessments; changes in banking regulations or other regulatory or legislative requirements affecting the Company’s business; international developments; the tariff strategy of the Trump administration, and its related effects on the agriculture industry and connected businesses in the Central Valley; and changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board or other regulatory agencies. The Company undertakes no obligation to release publicly the results of any revisions to the forward-looking statements included herein to reflect events or circumstances after today, or to reflect the occurrence of unanticipated events. The Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

Member FDIC

	For the Quarter Ended:									Year to Date as of:
Select Financial Information and Ratios	September 30, 2025			June 30, 2025			September 30, 2024			September 30, 2025			September 30, 2024
BALANCE SHEET- ENDING BALANCES:
Total assets	$1,499,233			$1,473,927			$1,512,241
Total portfolio loans		1,121,924			1,091,964			998,222
Investment securities		248,282			254,177			345,428
Total deposits		1,258,261			1,234,648			1,286,949
Shareholders equity, net		179,424			173,908			163,635
INCOME STATEMENT DATA
Operating revenue		23,492			27,349			25,403			79,318			73,743
Operating expense		14,273			15,768			12,735			46,508			38,721
Pre-tax, pre-provision income		9,219			11,581			12,668			32,810			35,022
Net income after tax		6,236			6,036			8,563			20,370			24,429
SHARE DATA
Basic earnings per share	$2.07			$1.95			$2.70			$6.58			$7.70
Fully diluted EPS	$2.06			$1.94			$2.69			$6.57			$7.68
Book value per common share	$60.04			$56.87			$51.52
Common shares outstanding		2,988,282			3,058,058			3,175,975
Fully diluted shares		3,025,332			3,104,067			3,186,943			3,100,992			3,182,240
FFBB - Stock price	$81.45			$78.00			$90.50
RATIOS
Return on average assets		1.67	%		1.59	%		2.31	%		1.80	%		2.25	%
Return on average equity		14.13	%		13.75	%		21.11	%		15.55	%		20.96	%
Efficiency ratio		60.76	%		57.15	%		50.16	%		58.46	%		51.93	%
Adjusted efficiency ratio		57.93	%		52.14	%		44.75	%		54.04	%		46.55	%
Yield on earning assets		6.29	%		6.18	%		6.15	%		6.26	%		6.06	%
Yield on investment securities		3.79	%		4.13	%		4.48	%		4.11	%		4.35	%
Yield on portfolio loans		6.76	%		6.70	%		6.87	%		6.75	%		6.65	%
Cost to fund earning assets		1.13	%		1.09	%		1.04	%		1.06	%		1.02	%
Cost of interest-bearing deposits		2.83	%		2.81	%		2.83	%		2.75	%		2.62	%
Net Interest Margin		5.15	%		5.09	%		5.11	%		5.20	%		5.04	%
Equity to assets		11.97	%		11.80	%		10.82	%
Net loan to deposit ratio		89.16	%		88.44	%		77.57	%
Full time equivalent employees		180			181			163
BALANCE SHEET- AVERAGES
Total assets		1,480,234			1,525,601			1,477,259			1,512,281			1,451,644
Total portfolio loans		1,120,353			1,112,380			982,152			1,103,353			978,599
Investment securities		251,213			289,127			343,096			288,407			343,849
Total deposits		1,244,569			1,281,357			1,254,343			1,275,286			1,232,482
Shareholders equity, net		175,101			176,074			161,363			175,198			155,651

Consolidated Balance Sheet (unaudited)
(in thousands)	September 30, 2025			June 30, 2025			September 30, 2024
ASSETS
Cash and due from banks	$	38,391		$	55,897		$	78,404
Interest bearing deposits in banks		19,895			21,347			38,471
CDs in other banks		1,491			1,722			1,730
Investment securities		248,282			254,177			345,428
Loans held for sale		23,457			—			—
Construction & land development		17,358			12,784			34,090
Residential RE 1-4 family		20,362			17,066			18,036
Commercial real estate		709,889			683,743			613,735
Agriculture		103,977			109,926			92,378
Commercial and industrial		269,904			266,810			238,628
Consumer and other		434			1,635			1,355
Portfolio loans		1,121,924			1,091,964			998,222
Deferred fees & discounts		(3,329	)		(3,541	)		(4,564	)
Allowance for credit losses		(15,302	)		(15,330	)		(11,491	)
Loans, net		1,103,293			1,073,093			982,167
Non-marketable equity investments		9,971			9,809			8,890
Cash value of life insurance		12,693			12,594			12,305
Other real estate owned		978			949			—
Accrued interest and other assets		40,782			44,339			44,846
Total assets	$	1,499,233		$	1,473,927		$	1,512,241
LIABILITIES AND EQUITY
Non-interest bearing deposits	$	758,237		$	759,300		$	826,708
Interest checking		77,034			75,815			84,931
Savings		48,211			49,657			52,860
Money market		204,575			183,071			195,366
Certificates of deposits		170,204			166,805			127,084
Total deposits		1,258,261			1,234,648			1,286,949
Short-term borrowings		7,000			16,000			—
Long-term debt		38,125			38,086			37,967
Other liabilities		16,423			11,285			23,690
Total liabilities		1,319,809			1,300,019			1,348,606
Common stock		25,245			29,501			37,931
Retained earnings		168,508			162,272			138,419
Accumulated other comprehensive loss		(14,329	)		(17,865	)		(12,715	)
Shareholders' equity		179,424			173,908			163,635
Total liabilities and shareholders' equity	$	1,499,233		$	1,473,927		$	1,512,241

Consolidated Income Statement (unaudited)	Quarter ended:									Year to date:
(in thousands)	September 30, 2025			June 30, 2025			September 30, 2024			September 30, 2025			September 30, 2024
INTEREST INCOME:
Loan interest income	$	19,090		$	18,582		$	16,971		$	55,741		$	48,697
Investment income		2,398			2,978			3,862			8,875			11,197
Int. on fed funds & CDs in other banks		176			270			384			1,020			956
Dividends from non-marketable equity		365			141			187			638			710
Total interest income		22,029			21,971			21,404			66,274			61,560
INTEREST EXPENSE:
Int. on deposits		3,518			3,288			3,077			9,696			8,603
Int. on short-term borrowings		6			126			76			164			334
Int. on long-term debt		451			451			464			1,353			1,393
Total interest expense		3,975			3,865			3,617			11,213			10,330
Net interest income		18,054			18,106			17,787			55,061			51,230
PROVISION FOR CREDIT LOSSES		687			3,157			762			5,009			1,432
Net interest income after provision		17,367			14,949			17,025			50,052			49,798
NON-INTEREST INCOME:
Total deposit fee income		812			854			837			2,515			2,480
Debit / credit card interchange income		223			215			183			630			536
Merchant services income		3,210			6,609			5,570			17,683			17,706
Gain on sale of loans		361			1,446			636			2,068			1,597
(Loss) gain on sale of investments		—			(243	)		16			(243	)		(817	)
Other operating income		832			362			374			1,604			1,011
Total non-interest income		5,438			9,243			7,616			24,257			22,513
NON-INTEREST EXPENSE:
Salaries & employee benefits		7,667			8,002			6,469			23,725			19,775
Occupancy expense		458			352			376			1,163			1,195
Merchant services operating expense		1,580			2,887			2,489			7,641			7,512
Other operating expense		4,568			4,527			3,401			13,979			10,239
Total non-interest expense		14,273			15,768			12,735			46,508			38,721
Income before provision for income tax		8,532			8,424			11,906			27,801			33,590
PROVISION FOR INCOME TAXES		2,296			2,388			3,343			7,431			9,161
Net income	$	6,236		$	6,036		$	8,563		$	20,370		$	24,429

ASSET QUALITY
(in thousands)	September 30, 2025			June 30, 2025			September 30, 2024
Delinquent accruing loans 30-60 days	$	6,210		$	1,796		$	1,654
Delinquent accruing loans 60-90 days	355			1,020			1,390
Delinquent accruing loans 90+ days	966			46			322
Total delinquent accruing loans	$	7,531		$	2,862		$	3,366
Loans on non-accrual	$	26,949		$	26,285		$	12,821
Other real estate owned	978			949			—
Nonperforming assets	$	27,927		$	27,234		$	12,821
Delinquent 30-60 / Total Loans	0.55		%	0.16		%	0.17		%
Delinquent 60-90 / Total Loans	0.03		%	0.09		%	0.14		%
Delinquent 90+ / Total Loans	0.09		%	—		%	0.03		%
Delinquent Loans / Total Loans	0.67		%	0.26		%	0.34		%
Non-accrual / Total Loans	2.40		%	2.41		%	1.28		%
Nonperforming assets to total assets	1.86		%	1.85		%	0.85		%
Year-to-date charge-off activity
Charge-offs	$	1,388		$	772		$	—
Recoveries	45			—			35
Net charge-offs (recoveries)	$	1,343		$	772		$	(35	)
Annualized net loan losses to average loans	0.16		%	0.14		%	—		%
CREDIT LOSS RESERVE RATIOS:
Allowance for credit losses	$	15,302		$	15,330		$	11,491
Total loans	$	1,121,924		$	1,091,964		$	998,222
Purchased govt. guaranteed loans	$	14,970		$	15,138		$	17,072
Originated govt. guaranteed loans	$	42,641		$	38,224		$	41,918
ACL / Total loans	1.36		%	1.40		%	1.15		%
ACL / Loans less 100% govt. gte. loans (purchased)	1.38		%	1.42		%	1.17		%
ACL / Loans less all govt. guaranteed loans	1.44		%	1.48		%	1.22		%
ACL / Total assets	1.02		%	1.04		%	0.76		%

	For the Quarter Ended:
SELECT FINANCIAL TREND INFORMATION	September 30, 2025			June 30, 2025			March 31, 2025			December 31, 2024			September 30, 2024
BALANCE SHEET- PERIOD END
Total assets	$	1,499,233		$	1,473,927		$	1,560,376		$	1,504,128		$	1,512,241
Loans held for sale		23,457			—			—			—			—
Loans held for investment		1,121,924			1,091,964			1,092,441			1,071,079			998,222
Investment securities		248,282			254,177			313,826			322,186			345,428
Non-interest bearing deposits		758,237			759,300			825,404			828,508			826,708
Interest bearing deposits		500,024			475,348			494,977			455,869			460,241
Total deposits		1,258,261			1,234,648			1,320,381			1,284,377			1,286,949
Short-term borrowings		7,000			16,000			10,000			—			—
Long-term debt		38,125			38,086			38,046			38,007			37,967
Total equity		193,753			191,773			191,928			186,574			176,350
Accumulated other comprehensive loss		(14,329	)		(17,865	)		(17,217	)		(18,182	)		(12,715	)
Shareholders' equity		179,424			173,908			174,711			168,392			163,635
QUARTERLY INCOME STATEMENT
Interest income	$	22,029		$	21,971		$	22,274		$	22,403		$	21,404
Interest expense		3,975			3,865			3,373			3,591			3,617
Net interest income		18,054			18,106			18,901			18,812			17,787
Non-interest income		5,438			9,243			9,575			9,435			7,616
Gross revenue		23,492			27,349			28,476			28,247			25,403
Provision for credit losses		687			3,157			1,164			1,671			762
Non-interest expense		14,273			15,768			16,467			13,270			12,735
Net income before tax		8,532			8,424			10,845			13,306			11,906
Tax provision		2,296			2,388			2,747			3,588			3,343
Net income after tax		6,236			6,036			8,098			9,718			8,563
BALANCE SHEET- AVERAGE BALANCE
Total assets	$	1,480,234		$	1,525,601		$	1,531,573		$	1,529,439		$	1,477,259
Loans held for sale		255			—			—			—			—
Loans held for investment		1,120,353			1,112,380			1,076,848			1,038,215			982,152
Investment securities		251,213			289,127			325,699			333,135			343,096
Non-interest bearing deposits		751,139			812,753			850,426			838,748			822,200
Interest bearing deposits		493,430			468,604			450,124			460,321			432,143
Total deposits		1,244,569			1,281,357			1,300,550			1,299,069			1,254,343
Short-term borrowings		446			11,110			2,856			951			—
Long-term debt		38,107			38,068			38,028			37,989			39,479
Shareholders' equity		175,101			176,074			174,410			167,268			161,363

Contact: Steve Miller - President & CEO
Bhavneet Gill – EVP & CFO
(559) 439-0200

FAQ

What were FFB Bancorp (FFBB) Q3 2025 earnings and EPS?

FFB Bancorp reported Q3 2025 net income $6.24M, or $2.06 per diluted share.

How did FFB Bancorp's loan and deposit balances change in Q3 2025 (FFBB)?

Total loans were $1.12B (+3% QoQ, +12% YoY) and total deposits were $1.26B (+2% QoQ, -2% YoY).

What drove the revenue decline for FFBB in Q3 2025?

The decline to $23.49M was mainly due to lower merchant services income and reduced sale gains.

Did FFB Bancorp complete its stock repurchase program in 2025 (FFBB)?

Yes; the company fully utilized a $15.0M authorization, repurchasing 194,049 shares at an average $77.21.

What capital and margin metrics did FFBB report for Q3 2025?

FFB Bancorp reported a NIM 5.15%, tangible common equity 11.97%, leverage ratio 15.33%, and total risk-based capital 20.94%.