First Pacific Bancorp Reports Fourth Quarter and Year End 2025 Results, Highlighting Growth and Capital Strength

Rhea-AI Summary

First Pacific Bancorp (OTCID: FPBC) reported fourth-quarter and full-year 2025 results showing balance sheet growth, improved profitability, stable asset quality, and stronger capital.

Key figures: total assets $490M, deposits $406M, loans $320M, year net income $2.01M, allowance for credit losses 0.98% of loans, and $7M senior debt financing.

Positive

• Total assets increased to $490 million, up $57 million since year-end 2024
• Total deposits rose to $406 million, up $55 million since year-end 2024
• Net income (FY 2025) of $2.01 million, up from $1.11 million in FY 2024
• Capital ratios strengthened: leverage 9.53% and total risk-based 13.39% at Dec 31, 2025

Negative

• None.

WHITTIER, Calif., Feb. 03, 2026 (GLOBE NEWSWIRE) -- First Pacific Bancorp (the “Company”) (OTCID: FPBC), the holding company for First Pacific Bank (the “Bank”), today reported consolidated results for the fourth quarter and year ending December 31, 2025, reflecting continued balance sheet growth, improved profitability, stable asset quality, and a strengthened capital position to support future operations.

During the fourth quarter, the Company also closed $7 million in senior debt financing through a correspondent line to enhance liquidity and balance sheet flexibility. Of this amount, $3.3 million was contributed to the Bank to strengthen regulatory capital ratios, with the remaining capacity available to support future growth initiatives.

Key Financial Highlights:

• Total assets ended the fourth quarter of 2025 at $490 million, up $57 million since year end 2024.
• Total deposits ended the fourth quarter of 2025 at $406 million, up $55 million since year end 2024.
• Total loans ended the fourth quarter of 2025 at $320 million, up $42 million from year end 2024.
• Asset quality remains excellent with minimal levels of classified or non-performing assets.
• The Bank ended the fourth quarter with a leverage capital ratio of 9.53% and a total risk-based capital ratio of 13.39%, which ratios were up from the prior quarter’s ratios of 8.74% and 12.16%, respectively.
• As of December 31, 2025, cash and cash equivalents totaled $57 million.
• Unused borrowing capacity from credit facilities on December 31, 2025, totaled $179 million.
  

For the fourth quarter ending December 31, 2025, the Company realized a pre-tax, pre-provision profit of $715 thousand, compared to $702 thousand in Q4 2024. Net income for the fourth quarter of 2025 was $558 thousand, up from $500 thousand in Q4 2024. For the twelve months ending December 31, 2025, the Company reported pre-tax, pre-provision profit of $2.75 million and net income of $2.01 million compared to $1.54 million and $1.11 million, respectively, for the twelve months ending December 31, 2024. These results reflect continued progress in operating performance and disciplined expense and risk management.  

Asset quality remains excellent with minimal non-performing assets, an allowance for credit losses of 0.98% of total loans at December 31, 2025, and zero loan losses during the year. The Company continues to emphasize conservative underwriting and active portfolio oversight.

“Our 2025 results reflect continued progress in strengthening our balance sheet and improving operating performance,” said Joe Matranga, Chairman of the Board. “We continue to grow responsibly while maintaining strong credit quality and delivering long-term value to our shareholders.”

“With a focus on Southern California, our relationship-based model and in-market expertise continue to attract business clients who value personalized, high-touch service,” said Nathan Rogge, President and Chief Executive Officer. “With a strong liquidity position, expanding capital base, and a scalable operating platform, we are focused on driving sustained profitability, enhancing shareholder value, and building a community bank positioned for long-term success.”

ABOUT FIRST PACIFIC BANK

First Pacific Bank is a wholly owned subsidiary of First Pacific Bancorp (OTCID: FPBC) and is a growing community bank catering to individuals, professionals, and small-to-medium sized businesses throughout Southern California. Since opening in 2006, the Bank has offered a personalized approach, access to decision makers, a broad range of solutions, and a commitment to delivering an exceptional customer experience. First Pacific Bank operates locations in Los Angeles County, Orange County, San Diego County, and the Inland Empire. For more information, visit firstpacbank.com or call 888.BNK.AT.FPB.

FORWARD-LOOKING STATEMENTS

This news release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act of 1934, as amended, and First Pacific Bancorp intends for such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Future events are difficult to predict, and the expectations described above are necessarily subject to risk and uncertainty that may cause actual results to differ materially and adversely. Forward-looking statements relate to, among other things, our business plan, and strategies, and can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” or words of similar meaning, or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may” and similar expressions. These forward-looking statements are not guarantees of future performance, nor should they be relied upon as representing management’s views as of any subsequent date. Factors that might cause such differences include, but are not limited to: successfully realizing the benefits of our business strategy and plans,; changes in general economic and financial market conditions, either nationally or locally, in areas in which First Pacific Bank conducts its operations; effects of inflation and changes in interest rates; continuing consolidation in the financial services industry; new litigation or changes in existing litigation; increased competitive challenges and expanding product and pricing pressures among financial institutions; impact of any natural disasters, including earthquakes; effect of governmental supervision and regulation, including any regulatory or other enforcement actions; legislation or regulatory changes which adversely affect First Pacific Bank’s operations or business; loss of key personnel; and changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board or other regulatory agencies. The Company does not undertake, and specifically disclaims any obligation to update any forward-looking statements to reflect occurrences or unanticipated events, or circumstances after the date of such statements except as required by law.

Contacts
Investor Relations Contact	Media Relations Contact
Jim Burgess	Amanda Conover
858.461.7302	858.461.7308
jburgess@firstpacbank.com	aconover@firstpacbank.com

--- Summary Financial Tables Follow ---

First PacificBancorp
Consolidated Balance Sheets
(Unaudited)
	Dec 31, 2025			Sep 30, 2025			Jun 30, 2025			Mar 31, 2025			Dec 31, 2024
ASSETS
Cash and due from banks	$	13,335,659		$	4,361,215		$	8,336,307		$	8,042,164		$	4,708,926
Federal funds sold		43,805,000			47,580,000			43,670,000			39,250,000			36,290,000
Total cash and cash equivalents		57,140,659			51,941,215			52,006,307			47,292,164			40,998,926
Debt securities (AFS)		1,692,800			1,756,875			1,791,113			1,859,740			1,866,022
Debt securities (HTM)		96,088,528			96,991,887			98,052,199			99,099,346			100,257,560
Total debt securities		97,781,328			98,748,762			99,843,312			100,959,086			102,123,582
Construction & land development		29,510,901			27,728,045			26,181,088			25,245,823			23,320,351
1-4 Family residential		73,481,444			71,298,162			68,065,742			63,536,698			58,588,090
Multifamily residential		31,117,740			30,456,673			30,570,654			30,452,183			28,561,276
Nonfarm, nonresidential real estate		115,196,071			116,977,598			120,672,305			105,299,777			100,066,570
Commercial & industrial		66,023,866			68,930,751			62,021,304			64,956,570			62,322,690
Consumer & Other		4,538,637			4,555,112			4,378,029			4,572,607			4,525,108
Total loans		319,868,659			319,946,341			311,889,122			294,063,658			277,384,085
Allowance for credit losses (loans)		(3,122,503	)		(3,141,203	)		(3,179,637	)		(3,179,637	)		(3,179,637	)
Total loans, net		316,746,156			316,805,138			308,709,485			290,884,021			274,204,448
Premises, equipment, and ROU net		3,171,482			3,277,724			2,918,754			2,822,403			1,328,964
Goodwill, core deposit & other intangibles		1,195,948			1,200,762			1,202,582			1,259,139			1,273,134
Bank owned life insurance		5,410,102			5,378,503			5,347,738			5,317,491			5,287,738
Accrued interest and other assets		8,170,560			8,585,760			7,650,569			7,703,693			7,755,355
Total Assets	$	489,616,235		$	485,937,864		$	477,678,747		$	456,237,997		$	432,972,147
LIABILITIES AND SHAREHOLDERS' EQUITY
Deposits:
Noninterest-bearing demand	$	160,085,795		$	134,783,120		$	138,110,569		$	143,205,484		$	131,515,568
Interest-bearing transaction accounts		34,875,562			26,611,844			24,968,600			39,203,360			28,454,639
Money market and savings		174,359,420			186,610,551			178,569,935			162,563,677			146,423,126
Time deposits		36,675,567			41,519,108			35,936,500			44,568,676			44,302,867
Total deposits		405,996,344			389,524,623			377,585,604			389,541,197			350,696,200
Borrowings		36,286,906			50,000,000			55,000,000			23,000,000			40,000,000
Accrued interest and other liabilities		5,376,494			5,211,202			4,705,376			3,952,095			3,122,902
Total liabilities		447,659,744			444,735,825			437,290,980			416,493,292			393,819,102
Shareholders' Equity:
Capital stock and APIC		37,871,816			37,701,986			37,552,889			37,389,068			37,272,567
Retained earnings		4,662,166			4,104,143			3,497,084			3,043,502			2,650,877
Accum other comprehensive income		(577,491	)		(604,090	)		(662,206	)		(687,865	)		(770,399	)
Total shareholders' equity		41,956,491			41,202,039			40,387,767			39,744,705			39,153,045
Total Liabilities and Shareholders' Equity	$	489,616,235		$	485,937,864		$	477,678,747		$	456,237,997		$	432,972,147

First PacificBancorp
Consolidated Income Statements - Quarterly
(Unaudited)
	Dec 31, 2025		Sep 30, 2025		Jun 30, 2025		Mar 31, 2025		Dec 31, 2024
INTEREST INCOME
Loans, including fees	$	5,380,149	$	5,478,759	$	5,056,534	$	4,788,107	$	4,814,128
Debt securities		464,580		456,576		464,333		462,472		484,507
Fed funds & int-bearing balances		348,027		333,642		413,487		339,864		419,597
Total interest income		6,192,756		6,268,977		5,934,354		5,590,443		5,718,232
INTEREST EXPENSE
Deposits		1,907,127		1,766,021		1,897,025		1,812,760		1,777,350
Borrowings		218,288		393,330		127,359		219,832		332,375
Total interest expense		2,125,415		2,159,351		2,024,384		2,032,592		2,109,725
Net interest income		4,067,341		4,109,626		3,909,970		3,557,851		3,608,507
Provision for credit losses		-		-		-		-		-
Net interest income after provision		4,067,341		4,109,626		3,909,970		3,557,851		3,608,507
NONINTEREST INCOME
Service charges, fees and other income		221,064		114,633		87,059		122,610		119,170
Sublease income		-		-		-		45,222		-
Gains (losses) on sale of assets		27,681		29,966		-		-		-
Gains on early payoff of debt		-		-		-		-		54,125
Total noninterest income		248,745		144,599		87,059		167,832		173,295
NONINTEREST EXPENSE
Salaries and benefits		2,120,441		2,114,900		2,227,827		2,119,302		1,984,774
Occupancy and equipment		238,252		279,715		277,107		259,480		258,181
Other expense		1,242,133		1,006,318		857,837		797,261		836,691
Total noninterest expense		3,600,826		3,400,933		3,362,771		3,176,043		3,079,646
Income before income tax expense		715,260		853,292		634,258		549,640		702,156
Income tax expense		157,238		246,232		180,677		157,015		202,586
Net Income	$	558,022	$	607,060	$	453,581	$	392,625	$	499,570
Earnings per share basic (QTR)	$	0.13	$	0.14	$	0.10	$	0.09	$	0.12
Weighted average shares outstanding (QTR)		4,346,140		4,341,356		4,335,529		4,333,735		4,293,829

First Pacific Bancorp
Consolidated Income Statements - Year-to-Date
(Unaudited)
	Dec 31, 2025		Dec 31, 2024
INTEREST INCOME
Loans, including fees	$	20,703,549	$	18,987,681
Investment securities		1,847,959		2,042,246
Fed funds & int-bearing balances		1,435,021		1,853,470
Total interest income		23,986,529		22,883,397
INTEREST EXPENSE
Deposits		7,382,932		7,001,082
Borrowings		958,809		1,808,614
Total interest expense		8,341,741		8,809,696
Net interest income		15,644,788		14,073,701
Provision for credit losses		-		-
Net interest income after provision		15,644,788		14,073,701
NONINTEREST INCOME
Service charges, fees and other income		545,366		430,626
Sublease income		45,222		160,817
Gains (losses) on sale of assets		57,647		15,335
Gains on early payoff of debt		-		198,450
Total noninterest income		648,235		805,228
NON INTEREST EXPENSE
Salaries and benefits		8,582,470		8,500,224
Occupancy and equipment		1,054,554		1,364,760
Other expense		3,903,549		3,472,378
Total noninterest expense		13,540,573		13,337,362
Income before income tax expense		2,752,450		1,541,567
Income tax expense		741,162		433,954
Net Income	$	2,011,288	$	1,107,613
Earnings per share basic (YTD)	$	0.46	$	0.26
Weighted average shares outstanding (YTD)		4,339,934		4,286,945

First PacificBancorp
Quarterly Financial Highlights
(Unaudited)
		Quarterly
		2025		2025		2025		2025		2024
($$ in thousands except per share data)		4th Qtr		3rd Qtr		2nd Qtr		1st Qtr		4th Qtr
EARNINGS
Net interest income	$	4,067		4,110		3,910		3,558		3,609
Provision for loan losses	$	0		0		0		0		0
Noninterest income	$	249		145		87		168		173
Noninterest expense	$	3,601		3,401		3,363		3,176		3,080
Income tax expense	$	157		246		181		157		203
Net income	$	558		607		454		393		500
Earnings per share basic	$	0.13		0.14		0.10		0.09		0.12
Weighted average shares outstanding		4,346,140		4,341,356		4,335,529		4,333,735		4,293,829
Ending shares outstanding		4,346,810		4,344,241		4,335,678		4,335,088		4,294,500
PERFORMANCE RATIOS
Return on average assets		0.48%		0.52%		0.41%		0.37%		0.47%
Return on average common equity		5.33%		5.92%		4.55%		4.05%		5.12%
Yield on loans		6.74%		6.88%		6.85%		6.79%		6.91%
Yield on earning assets		5.50%		5.61%		5.53%		5.44%		5.50%
Cost of deposits		1.91%		1.85%		1.95%		2.00%		1.98%
Cost of funding		2.02%		2.07%		2.02%		2.12%		2.18%
Net interest margin		3.61%		3.68%		3.65%		3.46%		3.47%
Efficiency ratio		83.4%		79.9%		84.1%		85.2%		81.4%
CAPITAL
Tangible equity to tangible assets		8.35%		8.25%		8.22%		8.46%		8.77%
Book value (BV) per common share	$	9.65		9.48		9.32		9.17		9.12
Tangible BV per common share	$	9.38		9.21		9.04		8.88		8.82
ASSET QUALITY
Net loan charge-offs (recoveries)	$	0		0		0		0		0
Allowance for credit losses (loans)	$	3,123		3,141		3,180		3,180		3,180
Allowance to total loans		0.98%		0.98%		1.02%		1.08%		1.15%
Nonperforming loans	$	1,200		858		1,015		849		672
END OF PERIOD BALANCES
Total loans	$	319,869		319,946		311,889		294,064		277,384
Total assets	$	489,616		485,938		477,679		456,238		432,972
Deposits	$	405,996		389,525		377,586		389,541		350,696
Loans to deposits		78.8%		82.1%		82.6%		75.5%		79.1%
Shareholders' equity	$	41,956		41,202		40,388		39,745		39,153
Full-time equivalent employees		48		46		47		46		49
AVERAGE BALANCES (QTRLY)
Total loans	$	316,836		315,976		295,970		286,119		276,301
Earning assets	$	446,590		443,150		430,237		416,486		412,424
Total assets	$	464,251		459,678		445,557		430,891		425,750
Deposits	$	396,716		378,916		389,840		368,363		355,369
Shareholders' equity	$	41,498		40,681		39,963		39,326		38,746

FAQ

What were First Pacific Bancorp (FPBC) total assets and deposits at December 31, 2025?

Total assets were $490 million and total deposits were $406 million at December 31, 2025. According to the company, assets rose by $57 million and deposits rose by $55 million compared with year-end 2024, reflecting balance sheet growth.

How much net income did FPBC report for the full year 2025 and how did it compare to 2024?

First Pacific Bancorp reported net income of $2.01 million for 2025, up from $1.11 million in 2024. According to the company, improved operating performance and disciplined expense management drove the year-over-year increase.

What capital and liquidity measures did FPBC report at year-end 2025?

FPBC reported a leverage ratio of 9.53% and total risk-based capital of 13.39% at December 31, 2025. According to the company, $57 million in cash and $179 million unused borrowing capacity supported liquidity and flexibility.

Did First Pacific Bancorp raise any debt or financing in Q4 2025 and what was its purpose?

The company closed $7 million in senior debt financing through a correspondent line in Q4 2025. According to the company, $3.3 million was contributed to the Bank to strengthen regulatory capital ratios and the remainder enhances liquidity.

What does FPBC say about asset quality and loan losses for 2025?

The company reports asset quality as excellent with minimal non-performing assets and zero loan losses during 2025. According to the company, the allowance for credit losses was 0.98% of total loans at December 31, 2025.