FB Bancorp (NASDAQ: FBLA) returns to profit and sheds mortgage arm

Rhea-AI Filing Summary

FB Bancorp, Inc. reported 2025 net income of $1.3 million, a sharp improvement from a net loss of $6.2 million in 2024. Results reflect $3.9 million of net income from continuing operations and a $2.7 million net loss from discontinued operations tied to its mortgage unit.

The Bank is exiting its loss-making mortgage banking segment, NOLA Lending Group, via a sale of substantially all related assets and liabilities, expected to close on February 28, 2026, and reducing headcount by about 108 employees. Net interest income rose to $48.0 million from $41.4 million, while total assets reached $1.26 billion. Asset quality weakened, with non-performing loans increasing to $16.9 million and representing 2.26% of total loans. The company also completed a stock repurchase of 1,983,750 shares for $22.2 million, contributing to total equity declining to $314.5 million.

Positive

• Return to profitability and stronger core earnings: 2025 net income improved to $1.3 million from a $6.2 million loss in 2024, supported by a $6.6 million (15.82%) increase in net interest income and a higher net interest margin of 4.57%.
• Exit of underperforming mortgage segment with cost reduction: The planned sale of NOLA Lending Group removes a segment that lost about $2.7 million in 2025 and is paired with a reduction of roughly 108 employees, with management indicating expected salary and benefit savings of about $1.1 million annually in 2026.

Negative

• Rising credit stress, especially in residential mortgages: Non-performing loans increased to $16.9 million, or 2.26% of total loans, with most tied to residential mortgages in Gulf Coast markets where higher insurance costs are pressuring borrowers.
• Higher operating costs weigh on recent quarters: Non-interest expenses from continuing operations rose $2.7 million (6.40%) to $45.6 million in 2025, and quarterly expenses jumped 16.11%, driven by severance, new branch costs, data processing, and professional fees.

Insights

Bank equity analyst

FB Bancorp returns to profit and exits a loss-making mortgage unit, but credit quality and higher costs remain key constraints.

FB Bancorp moved from a $6.2 million net loss in 2024 to $1.3 million net income in 2025, driven by stronger core banking performance. Net interest income increased to $48.0 million, up $6.6 million, and net interest margin improved to 4.57%, indicating better earning-asset mix and funding costs.

The planned sale of the NOLA Lending Group mortgage segment, which generated a $2.7 million net loss in 2025, should remove an ongoing drag and cuts about 108 positions. Management also completed a $22.2 million stock repurchase, reducing shares outstanding and total equity to $314.5 million. These moves change the balance sheet mix and capital deployment profile.

Risks are visible in asset quality and expenses. Non-performing loans rose to $16.9 million, or 2.26% of total loans, with most tied to residential mortgages in Gulf Coast markets facing elevated insurance costs. Non-interest expenses from continuing operations increased 6.40% to $45.6 million, which pressured quarterly earnings. Subsequent filings may provide more detail on post-sale earnings, credit trends and the sustainability of cost savings.

False0002013639FB Bancorp, Inc. /MD/00020136392026-02-182026-02-18

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 18, 2026

FB Bancorp, Inc.

(Exact Name of Registrant as Specified in its Charter)

Maryland		001-42380		99-1859402
(State or Other Jurisdiction of Incorporation)		(Commission File No.)		(I.R.S. Employer Identification No.)
353 Carondelet Street, New Orleans, Louisiana					70130
(Address of Principal Executive Offices)					(Zip Code)

(504) 569-8640

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Common Stock		FBLA		The NASDAQ Stock Market LLC
Title of Each Class		Trading Symbol(s)		Name of Each Exchange on Which Registered

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.

Emerging growth company x

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 2.02 Results of Operation and Financial Condition.

On February 18, 2026, FB Bancorp, Inc. (the “Company”) issued a press release reporting its financial results for the quarter and year ended December 31, 2025.

A copy of the press release announcing the results is attached as Exhibit 99.1. The information in this Item 2.02, as well as Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933.

Item 9.01 Financial Statements and Exhibits

(a)	Financial Statements of Businesses Acquired. Not applicable.
(b)	Pro Forma Financial Information. Not applicable.
(c)	Shell Company Transactions. Not applicable.
(d)	Exhibits.
	Exhibit No.	Description
	99.1	Press Release dated February 18, 2026
	104.1	Cover Page for this Current Report on Form 8-K, formatted in Inline XBRL

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

		FB BANCORP, INC.
Date: February 18, 2026	By:	/s/ Todd Wanner
		Todd Wanner
		Chief Financial Officer and Treasurer

Exhibit 99.1

FB Bancorp, Inc.

Announces Fourth Quarter and the Year 2025

Financial Results

New Orleans, Louisiana, February 18, 2026 / FB Bancorp, Inc. (NASDAQ: “FBLA”) (the “Company”), the holding company for Fidelity Bank (the “Bank”), today announced net income for the year ended December 31, 2025 of $1.3 million, comprised of net income from continuing operations of $3.9 million and a net loss from discontinued operations of $2.7 million. On January 5, 2026, Fidelity Bank announced its execution of a purchase agreement to sell substantially all of the assets and liabilities of the Bank's mortgage banking segment, NOLA Lending Group. The closing date of this transaction is anticipated to be February 28, 2026. This transaction allows the Bank to exit a business segment with a 2025 annual net loss of approximately $2.7 million and reduce total employees by approximately 108 individuals. For the year ended December 31, 2024, the Company had a net loss of $6.2 million, comprised of net income from continuing operations of $1.5 million and a net loss from discontinued operations of $7.7 million. A goodwill impairment of $5.8 million, recognized in December 2024, was a significant reason for the 2024 loss from discontinued operations of $7.7 million. For the three months ended December 31, 2025, the Company had a net loss of $1.4 million, comprised of net income from continuing operations of $528 thousand and a net loss from discontinued operations of $1.9 million. For the same three month period ended December 31, 2024, the Company had a net loss of $5.4 million, comprised of net income from continuing operations of $1.5 million and a net loss from discontinued operations of $6.8 million.

The Company is a Maryland corporation based in New Orleans, Louisiana. The Company’s banking subsidiary, Fidelity Bank, operates 19 banking locations in New Orleans, Hammond, Lafayette, and Baton Rouge, Louisiana. The Company is a Maryland corporation incorporated in February 2024 to become the registered bank holding company for Fidelity Bank upon the Bank’s conversion from the mutual-to-stock form of organization, which occurred on October 22, 2024. The Company sold 19,837,500 shares of common stock, par value $0.01 per share, at a price of $10 per share, for gross proceeds of $198,375,000. Shares of the Company’s common stock began trading on the Nasdaq Global Select Market under the trading symbol “FBLA” on October 23, 2024. Accordingly, the financial and other information prior to October 22, 2024 which is presented herein is Bank-only.

Selected Financial Data

		For the three months ended December 31,								For the years ended December 31,
		2025				2024				2025				2024
Performance Ratios:		(Dollars in thousands, except per share data)
Net income from continuing operations (in thousands)		$	528			$	1,475			$	3,945			$	1,509
Net loss from discontinued operations (in thousands)		$	(1,939	)		$	(6,836	)		$	(2,692	)		$	(7,723	)
Net income (loss) (in thousands)		$	(1,411	)		$	(5,361	)		$	1,253			$	(6,214	)
Return on average assets from continuing operations (1)			0.04	%			0.12	%			0.32	%			0.13	%
Return on average equity from continuing operations(2)			0.16	%			0.50	%			1.19	%			0.79	%
Earnings (losses) per share from continuing operations - basic and diluted		$	0.03			$	0.10			$	0.22			$	0.42
Net interest margin (3)			4.36	%			4.50	%			4.57	%			4.36	%
Non-interest income to average assets from continuing operations			0.08	%			0.05	%			0.33	%			0.40	%
Efficiency ratio from continuing operations(4)			92.13	%			80.74	%			87.47	%			92.98	%
Average interest-earning assets to average interest-bearing liabilities			149.65	%			152.64	%			150.60	%			132.93	%
Capital Ratios:
Total risk-based capital			30.12	%			30.33	%			30.12	%			30.33	%
Tier 1 risk-based capital			29.38	%			29.60	%			29.38	%			29.60	%
Common equity Tier 1 risk-based capital			29.38	%			29.60	%			29.38	%			29.60	%
Tier 1 leverage capital			20.02	%			19.55	%			20.02	%			19.55	%
Average equity to average assets			25.98	%			23.27	%			26.47	%			16.22	%
Common stock book value per share		$	17.38			$	16.45			$	17.38			$	16.45
Common stock book value per share (net of unearned ESOP shares)		$	18.91			$	17.81			$	18.91			$	17.81
Asset Quality Ratios:
Allowance for credit losses to total loans (5)			0.85	%			0.82	%			0.85	%			0.82	%
Allowance for credit losses to non-performing loans			37.31	%			48.07	%			37.31	%			48.07	%
Net charge-offs to average outstanding loans			0.05	%			0.04	%			0.21	%			0.21	%
Non-performing loans to total loans			2.26	%			1.72	%			2.26	%			1.72	%
Non-performing loans to total assets			1.34	%			1.06	%			1.34	%			1.06	%
Total non-performing assets to total assets (6)			1.49	%			1.11	%			1.49	%			1.11	%
Other:
Number of offices			19				18				19				18
Number of full-time equivalent employees			323				329				323				329

(1)	Represents net income (loss) from continuing operations divided by average total assets.
(2)	Represents net income (loss) from continuing operations divided by average equity.
(3)	Represents net interest income divided by average interest-earning assets. Includes loans held for sale.
(4)	Represents non-interest expense divided by the sum of net interest income and non-interest income.
(5)	Total loans includes only loans held for investment.
(6)	Non-performing assets includes other real estate owned.

Discontinued Operations

On December 31, 2025, the Bank entered into an agreement to sell substantially all of the assets and liabilities of the Bank's mortgage banking segment, NOLA Lending Group. The decision was based on a number of strategic priorities, including the continued decline in mortgage volume. This sale allows the Bank to exit a business segment that had a net loss of approximately $2.7 million in 2025 and reduce total employees by approximately 108 individuals. The Company's financial statements will reflect discontinued operations for the current period and retrospectively for prior periods under ASC 205-20.

The following is a summary of the assets and liabilities of the discontinued operations of the mortgage banking division at December 31, 2025 and December 31, 2024:

		December 31, 2025				December 31, 2024
ASSETS		(Dollars in thousands)
Derivative assets		$	450			$	439
Loans held for sale, at fair value			28,504				26,026
Right-of-use lease assets			—				247
Premises and equipment, net			332				983
Deferred tax assets			25				789
Other assets			569				309
Total assets		$	29,880			$	28,793
LIABILITIES
Lease Liabilities		$	-			$	249
Escrows payable			366				385
Other liabilities			1,978				3,672
Accrued compensation, including severance payments			1,199				588
Total liabilities		$	3,543			$	4,894

The following presents operating results of discontinued operations for the years ended December 31, 2025 and 2024:

	For the years ended December 31,
	2025				2024
Revenue	(Dollars in thousands)
Net interest income	$	4,310			$	5,012
Gain on sales of mortgage loans		14,755				12,739
Gain on sales of mortgage servicing rights		—				2,584
Other non-interest income		46				35
Total revenue		19,111				20,370
Expenses
Salaries and employee benefits		14,986				17,095
Hedging activity, net		1,147				(7	)
Goodwill impairment		—				5,786
Other general and administrative		6,263				5,551
Total non-interest expenses		22,396				28,425
Loss from discontinued operations before income taxes		(3,285	)			(8,055	)
Income tax benefit from discontinued operations		(593	)			(332	)
Net loss from discontinued operations	$	(2,692	)		$	(7,723	)

Results of Continuing Operations

•Net income was $3.9 million for the year ended December 31, 2025, as compared to net income of $1.5 million for the year ended December 31, 2024. This was primarily the result of a $6.6 million, or 15.82% increase in net interest income, partially offset by increases in total non-interest expenses of $2.7 million, or 6.40%.

•Net interest income was $48.0 million for the year ended December 31, 2025, compared to $41.4 million for the year ended December 31, 2024. This represents an increase of $6.6 million, or 15.82%. This increase is primarily the result of a $1.3 million, or 14.22%, increase in interest on investments, a $3.8 million, or 7.88%, increase on interest and fees on loans, and a $5.6 million, or 67.69%, decrease on interest expense on borrowed funds partially offset by an increase of $3.9 million, or 35.25%, from interest expenses on deposits. Net interest margin was 4.57% for the year ended December 31, 2025, compared to 4.36% for the year ended December 31, 2024. More information is available in the average balance sheet and yield tables below.

•Total non-interest income was $4.1 million for the year ended December 31, 2025, compared to $4.7 million for the year ended December 31, 2024. This $515 thousand, or 11.07%, decrease was due to a decrease of $343 thousand, or 11.80%, on deposit account service charges and a $297 thousand, or 17.06%, decrease in other non-interest income. The decrease in other non-interest income was primarily due to a decrease of $394 thousand in mortgage servicing revenue caused by the sales in mortgage servicing assets in the second quarter of 2024. These mortgage servicing asset sales in 2024 are also the reason that mortgage servicing rights amortization expenses are down $128 thousand, or 25.45%, for the years ended December 31, 2025, compared to the same period ended December 31, 2024.

•Total non-interest expenses were $45.6 million for the year ended December 31, 2025, compared to $42.9 million for the year ended December 31, 2024. This represents a $2.7 million, or 6.40%, increase in total non-interest expenses, primarily due to a $1.6 million, or 6.53%, increase in salaries and employee benefits due to severance related reorganization of the Bank, added staff for the Lafayette branch opened by the Bank in August, and normal pay increases, a $584 thousand, or 8.83%, increase in occupancy and equipment related to the new Lafayette branch and new ATM servicing contracts, a $491 thousand, or 11.12%, increase in data processing due to data enhancements and additional products, and a $909 thousand, or 17.38%, increase in other general and administrative expenses due to costs related to professional fees and insurance related to ESOP, SEC compliance related to the Company's first annual meeting, partially offset by a $809 thousand, or 49.51%, decrease in advertising and marketing. The Company does expect approximately $1.1 million in annual salaries and employee benefits savings for 2026 related to reductions in force of employees whose costs were included in continuing operations but had shared duties related to the discontinued mortgage operations.

•Net income was $528 thousand for the three months ended December 31, 2025 as compared to net income of $1.5 million for the same period ended December 31, 2024. The primary reason for the decrease in net income was a $1.6 million, or 16.11%, increase in non-interest expenses.

•Net interest income was $11.8 million for the three months ended December 31, 2025, compared to $11.9 million for the three months ended December 31, 2024. This represents a decrease of $155 thousand, or 1.30%. The largest fluctuations come from an increase in interest on investments of $768 thousand, or 35.34%, a decrease in interest on deposits in other banks of $1.1 million, or 63.27%, and a shift of interest expenses to deposits from borrowed funds. More information is available in the average balance sheet and yield tables presented below. Net interest margin was 4.36% for the three months ended December 31, 2025, compared to 4.50% for the same period ended December 31, 2024.

•Total non-interest income was $1.0 million for the three months ended December 31, 2025, compared to $627 thousand for the same period in 2024. This represents an increase of $375 thousand, or 59.81%, in non-interest income which was due to a $400 thousand loss from the disposal of assets in 2024 compared to a gain of $24 thousand in 2025. The $400 thousand loss in December 2024 is related to the sale of foreclosed warehouse facility.

•Total non-interest expenses were $11.8 million for the three months ended December 31, 2025, compared to $10.1 million for the three months ended December 31, 2024. This represents a $1.6 million, or 16.11%, increase in expenses. This increase was due to a $649 thousand, or 11.00%, increase in salaries and employee benefits caused by approximately $130 thousand in severance for reorganization within sales at the Bank and the addition of staff for the new Bank branch in Lafayette that opened in August 2025, a $245 thousand, or 14.90%, increase in occupancy and equipment due to the new Lafayette branch and new ATM servicing contracts, a $339 thousand, or 41.09%, increase in data processing due to data enhancement and additional products, and a $520 thousand, or 42.31%, increase in other general and administrative expenses due to professional fees and insurance related to ESOP, SEC compliance and costs related to the Company's first annual meeting.

Financial Condition

•Total assets were $1.26 billion at December 31, 2025, compared to $1.22 billion at December 31, 2024. The largest fluctuation between these periods came from an increase in securities available for sale of $82.2 million, or 33.68%. This increase was due to favorable investment yields in the second half of 2025 along with softening loan demand.

•Loans held for investment were $744.0 million at December 31, 2025, compared to $756.9 million at December 31, 2024. This represents a $12.9 million, or 1.71%, decrease, and was due to slower loan demand in the second half of 2025.

•From December 31, 2024 to December 31, 2025, commercial real estate loans increased $7.7 million, or 3.19%, home equity loans increased $5.9 million, or 5.49%, and fixed and variable residential mortgage loans decreased by $23.9 million, or 9.39%.

•Total equity was $314.5 million at December 31, 2025 compared to $326.3 million at December 31, 2024. This $11.8 million, or 3.62%, decrease was due to $22.2 million in common stock repurchases partially offset by $1.3 million in net income and an increase in accumulated other comprehensive income of $8.3 million. As announced on January 14, 2026, the Company completed its initial stock repurchase program, with 1,983,750 shares repurchased at an average price of $12.725 per share, inclusive of trading costs and commissions.

Asset Quality

•Non-performing loans were $16.9 million at December 31, 2025 compared to $13.0 million at December 31, 2024. At December 31, 2025, approximately $1.5 million non-performing loans related to commercial and commercial real estate loans which represents 0.45% of the outstanding balance of loans in this category. The majority of non-performing loans, $12.2 million, relate to residential mortgage loans which represents 4.56% of the outstanding balance of loans in this category. These non-performing residential mortgage loans have a weighted average loan-to-value below 80% based on latest available appraisals. Residential real estate loans remain under elevated credit pressures in our gulf coast lending markets due to rising insurance costs. Monthly insurance costs for many residents in the greater New Orleans area may exceed that of their monthly mortgage principal and interest payments.

•Non-performing loans as a percentage of total loans was 2.26% at December 31, 2025 compared to 1.72% at December 31, 2024.

•Total non-performing assets, which included non-performing loans and other real estate owned, as a percentage of total capital was 5.96% at December 31, 2025 compared to 4.16% at December 31, 2024.

•Net charge-offs were $1.6 million for the year ended December 31, 2025 compared to $1.5 million for the year ended December 31, 2024.

Forward-Looking Statements

Certain statements contained herein are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements, which are based on certain current assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of the words “may,” “will,” “should,” “could,” “would,” “plan,” “potential,” “estimate,” “project,” “believe,” “intend,” “anticipate,” “expect,” “target” and similar expressions. Forward-looking statements are based on current beliefs and expectations of management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond our control. Certain factors that could cause actual results to differ materially from expected results include increased competitive pressures, changes in the interest rate environment, inflation, general economic conditions or conditions within the securities markets, our ability to successfully integrate acquired operations and realize the expected level of synergies and cost savings, potential recessionary conditions, real estate market values in the Bank’s lending area, changes in the quality of our loan and security portfolios, increases in non-performing and classified loans, changes in liquidity, including the size and composition of our deposit portfolio, and the percentage of uninsured deposits in the portfolio, changes in monetary and fiscal policies of the U.S. Government, including policies of the U.S. Treasury and the Board of Governors of the Federal Reserve System, a failure in or breach of the Company’s operational or security systems or infrastructure, including cyberattacks, failure to maintain current technologies, failure to retain or attract employees; and other economic, legislative, accounting and regulatory changes that could adversely affect the Company or the Bank. Our actual future results may be materially different from the results indicated by any forward-looking statements. Except as required by applicable law or regulation, we do not undertake, and we specifically disclaim

any obligation, to release publicly the results of any revisions that may be made to any forward-looking statement contained herein.

Average Balance Sheets

		For the twelve months ended December 31,
		2025												2024
		Average Outstanding Balance				Interest				Average Yield/Rate				Average Outstanding Balance				Interest				Average Yield/Rate
		(Dollars in thousands)
Interest-earning assets:
Cash and cash equivalents		$	80,384			$	3,268				4.07	%		$	73,451			$	3,444				4.69	%
Securities			273,977				10,377				3.79	%			246,990				9,085				3.68	%
Loans held for investment			763,594				54,707				7.16	%			714,884				51,445				7.20	%
Loans held for sale			27,345				1,764				6.45	%			30,258				1,915				6.33	%
Total earning assets (4)			1,145,300				70,116				6.12	%			1,065,583				65,889				6.18	%
Non-interest-earning assets:
Cash and cash equivalents			7,418												6,716
Fixed Assets			57,050												52,583
Allowance for credit losses			(6,222	)											(6,065	)
Other			45,197												53,892
Total non-interest-earning assets			103,443												107,126
Total Assets		$	1,248,743											$	1,172,709
Interest-bearing liabilities:
Interest-bearing demand deposits		$	108,656			$	222				0.20	%		$	113,819			$	220				0.19	%
Interest-bearing savings and money market deposits			233,050				2,750				1.18	%			227,373				1,842				0.81	%
Certificates of deposit			352,591				12,171				3.45	%			280,756				9,134				3.25	%
Total interest-bearing deposits			694,297				15,143				2.18	%			621,948				11,196				1.80	%
Interest-bearing borrowings			66,204				2,661				4.02	%			179,663				8,237				4.58	%
Total interest-bearing liabilities			760,501				17,804				2.34	%			801,611				19,433				2.42	%
Non-interest:
Demand deposits			144,443												164,276
Other liabilities			13,298												16,577
Total non-interest liabilities			157,741												180,853
Total Equity			330,501												190,245
Total liabilities and equity		$	1,248,743											$	1,172,709
Net interest income						$	52,312											$	46,456
Net interest-earning assets (1)		$	384,799											$	263,972
Net interest rate spread (2)											3.78	%											3.76	%
Net yield on interest-earning assets (3)											4.57	%											4.36	%
Average of interest-earning assets to interest-bearing liabilities			150.60	%											132.93	%
Average equity to assets			26.47	%											16.22	%

(1)	Net interest-earning assets represent total interest-earning assets less total interest-bearing liabilities.
(2)	Net interest rate spread represents the difference between the weighted average yield on interest-earning assets and the weighted average rate of interest-bearing liabilities.
(3)	Represents net interest income divided by average interest-earning assets.
(4)	$4.3 million and $5.0 of interest on earning assets represents origination fees, discount fees and interest income from discontinued operations for 2025 and 2024, respectively.

		For the three months ended December 31,
		2025												2024
		Average Outstanding Balance				Interest				Average Yield/Rate				Average Outstanding Balance				Interest				Average Yield/Rate
		(Dollars in thousands)
Interest-earning assets:
Cash and cash equivalents		$	69,092			$	649				3.72	%		$	147,465			$	1,768				4.76	%
Securities			304,300				2,941				3.83	%			243,651				2,173				3.54	%
Loans held for investment			753,052				13,309				7.01	%			739,416				13,382				7.18	%
Loans held for sale			31,770				506				6.33	%			34,688				526				6.02	%
Total earning assets (4)			1,158,214				17,405				5.96	%			1,165,220				17,849				6.08	%
Non-interest-earning assets:
Cash and cash equivalents			8,110												6,268
Fixed Assets			57,748												53,957
Allowance for credit losses			(6,281	)											(5,905	)
Other			43,830												50,413
Total non-interest-earning assets			103,407												104,733
Total Assets		$	1,261,621											$	1,269,953
Interest-bearing liabilities:
Interest-bearing demand deposits		$	110,584			$	59				0.21	%		$	108,251			$	52				0.19	%
Interest-bearing savings and money market deposits			230,422				788				1.36	%			223,598				534				0.95	%
Certificates of deposit			366,225				3,190				3.46	%			279,753				2,300				3.26	%
Total interest-bearing deposits			707,231				4,037				2.27	%			611,602				2,886				1.87	%
Interest-bearing borrowings			66,695				633				3.76	%			151,756				1,747				4.57	%
Total interest-bearing liabilities			773,926				4,670				2.39	%			763,358				4,633				2.41	%
Non-interest:
Demand deposits			145,898												188,550
Other liabilities			14,056												22,563
Total non-interest liabilities			159,954												211,113
Total Equity			327,741												295,482
Total liabilities and equity		$	1,261,621											$	1,269,953
Net interest income						$	12,735											$	13,216
Net interest-earning assets (1)		$	384,288											$	401,862
Net interest rate spread (2)											3.57	%											3.67	%
Net yield on interest-earning assets (3)											4.36	%											4.50	%
Average of interest-earning assets to interest-bearing liabilities			149.65	%											152.64	%
Average equity to assets			25.98	%											23.27	%

(1)	Net interest-earning assets represent total interest-earning assets less total interest-bearing liabilities.
(2)	Net interest rate spread represents the difference between the weighted average yield on interest-earning assets and the weighted average rate of interest-bearing liabilities.
(3)	Represents net interest income divided by average interest-earning assets.
(4)	$969 thousand and $1.3 million of interest on earning assets represents origination fees, discount fees and interest income from discontinued operations for 2025 and 2024, respectively.

FB Bancorp, Inc.

Consolidated Balance Sheets

(unaudited)

		December 31, 2025				December 31, 2024
ASSETS		(Dollars in thousands)
Cash and due from banks		$	9,872			$	6,841
Interest-bearing deposits at other financial institutions			50,397				92,004
Total cash and cash equivalents			60,269				98,845
Securities available for sale, at fair value (amortized cost of $336,347 and $264,639, respectively)			326,346				244,119
Loans held for investment			743,956				756,897
Less: allowance for credit losses			(6,289	)			(6,244	)
Loans held for investment, net			737,667				750,653
Federal Home Loan Bank stock, at cost			3,650				4,354
Bank owned life insurance			15,341				14,986
Accrued interest receivable			5,688				5,729
Premises and equipment, net			57,105				53,162
Other real estate owned			1,349				610
Mortgage servicing rights			904				1,078
Prepaid expenses			1,908				2,029
Other assets			15,299				16,575
Assets from discontinued operations, at fair value			29,880				28,793
Total assets		$	1,255,406			$	1,220,933
LIABILITIES AND STOCKHOLDERS' EQUITY
Deposits:
Non-interest bearing		$	133,506			$	132,258
Interest bearing			707,897				668,484
Total deposits			841,403				800,742
Advances by borrowers for taxes and insurance			6,298				6,152
Other borrowings			78,257				73,500
Accrued interest payable			392				380
Other liabilities			11,063				9,010
Liabilities from discontinued operations, at fair value			3,543				4,894
Total liabilities			940,956				894,678
Stockholders' Equity:
Preferred stock, $0.01 par value - 5,000,000 shares authorized; none issued			—				—
Common stock, $0.01 par value - 120,000,000 shares authorized; 18,089,741 and 19,837,500 issued and outstanding as of December 31, 2025 and December 31, 2024, respectively			181				198
Additional paid-in capital			171,503				193,571
Unearned ESOP shares - 1,460,040 and 1,523,520 shares as of December 31, 2025 and December 31, 2024, respectively			(16,498	)			(17,215	)
Retained earnings			167,165				165,912
Accumulated other comprehensive income (loss)			(7,901	)			(16,211	)
Total stockholders' equity			314,450				326,255
Total liabilities and stockholders' equity		$	1,255,406			$	1,220,933

FB Bancorp, Inc.

Consolidated Statements of Income

(unaudited)

		For the three months ended December 31,								For the years ended December 31,
		2025				2024				2025				2024
Interest and dividend income						(Dollars in thousands)
Interest and fees on loans		$	12,846			$	12,614			$	52,161			$	48,349
Interest and dividends on investment securities			2,941				2,173				10,377				9,085
Interest on deposits in other banks			649				1,767				3,268				3,443
Total interest and dividend income			16,436				16,554				65,806				60,877
Interest expense
Deposits			4,037				2,885				15,143				11,196
Borrowed funds			633				1,748				2,661				8,237
Total interest expense			4,670				4,633				17,804				19,433
Net interest income			11,766				11,921				48,002				41,444
Provision for credit losses			469				710				1,720				1,530
Net interest income after provision for credit losses			11,297				11,211				46,282				39,914
Non-interest income
Service charges and fee income from deposit accounts			630				687				2,565				2,908
Gain (loss) on sales, disposal, or impairment of assets			24				(400	)			(87	)			(283	)
Gain on sales of available for sale securities			—				—				214				285
Other non-interest income			348				340				1,444				1,741
Total non-interest income			1,002				627				4,136				4,651
Non-interest expenses
Salaries and employee benefits			6,545				5,896				25,404				23,846
Occupancy and equipment			1,889				1,644				7,197				6,613
Directors’ fees			218				152				755				618
Data processing			1,164				825				4,908				4,417
Advertising and marketing			113				279				825				1,634
Mortgage servicing rights amortization			85				106				375				503
Other general and administrative			1,749				1,229				6,139				5,230
Total non-interest expenses			11,763				10,131				45,603				42,861
Income from continuing operations before income taxes			536				1,707				4,815				1,704
Income tax expense from continuing operations			8				232				870				195
Net income from continuing operations			528				1,475				3,945				1,509
Loss from discontinued operations before income taxes			(2,318	)			(6,971	)			(3,285	)			(8,055	)
Income tax benefit from discontinued operations			(379	)			(135	)			(593	)			(332	)
Net loss from discontinued operations			(1,939	)			(6,836	)			(2,692	)			(7,723	)
Net Income (loss)		$	(1,411	)		$	(5,361	)		$	1,253			$	(6,214	)
Basic and diluted earnings (loss) per common share:
Continuing operations		$	0.03			$	0.10			$	0.22			$	0.42
Discontinued operations			(0.11	)			(0.48	)			(0.15	)			(2.16	)
Total earnings (loss) per share - basic and diluted		$	(0.08	)		$	(0.38	)		$	0.07			$	(1.74	)
Weighted average shares outstanding			17,807,009				14,170,143				18,198,152				3,561,894

FAQ

How did FB Bancorp (FBLA) perform financially in 2025?

FB Bancorp reported 2025 net income of $1.3 million, reversing a $6.2 million loss in 2024. The improvement came from stronger continuing operations, including a $6.6 million increase in net interest income and a higher 4.57% net interest margin, despite ongoing losses in discontinued mortgage operations.

What is FB Bancorp (FBLA) doing with its NOLA Lending mortgage segment?

FB Bancorp is selling substantially all assets and liabilities of its NOLA Lending Group mortgage segment. The business produced a $2.7 million net loss in 2025. The transaction, expected to close on February 28, 2026, also reduces headcount by about 108 employees and removes a continuing earnings drag.

How did FB Bancorp’s core banking operations change in 2025?

Core operations strengthened, with net interest income rising to $48.0 million from $41.4 million and net interest margin improving to 4.57%. Non-interest income from continuing operations declined modestly, while non-interest expenses increased 6.40%, reflecting higher salaries, occupancy, data processing, and other general and administrative costs.

What is the asset quality picture for FB Bancorp (FBLA)?

Asset quality showed some pressure. Non-performing loans rose to $16.9 million, or 2.26% of total loans, compared with 1.72% a year earlier. Most problem credits are residential mortgages, with management citing rising insurance costs in Gulf Coast markets as a key driver of borrower stress.

What did FB Bancorp disclose about capital and share repurchases?

FB Bancorp reported total equity of $314.5 million at December 31, 2025, down from $326.3 million. The decline was mainly due to $22.2 million in common stock repurchases, including 1,983,750 shares bought at an average price of $12.725, partly offset by net income and higher accumulated other comprehensive income.

How large is FB Bancorp (FBLA) and what markets does it serve?

FB Bancorp reported total assets of $1.26 billion at December 31, 2025. Its subsidiary Fidelity Bank operates 19 branches across New Orleans, Hammond, Lafayette and Baton Rouge, Louisiana, focusing on community banking services in these Gulf Coast markets following its 2024 mutual-to-stock conversion.

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