For the six months ended
Second Quarter 2026 Summary: As of, or for the quarter ended
- Total portfolio of loans increased 4% to
$1 .26 billion from the previous quarter and increased 15% when compared to the same quarter for the prior year. - Total deposits increased 3% to
$1 .38 billion from the previous quarter and increased 12% when compared to the same quarter of the prior year. - Total assets increased 3% to
$1 .62 billion from the previous quarter and increased 10% when compared to the same quarter of the prior year. - Shareholder equity remained stable at
$182 .78 million from the previous quarter's$182 .84 million and increased 5% when compared to the same quarter for the prior year. - Book value per common share increased 3% to
$63.80 , from$61.85 in the previous quarter, and increased 12% from$56.87 the same quarter of the prior year. - Operating revenue (net interest income, before the provision for credit losses, plus non-interest income) increased 5% to
$24 .05 million from the previous quarter and decreased 12% when compared to the same quarter of the prior year. - Net interest margin decreased 18 basis points to 4.71% from the previous quarter and decreased 38 basis points when compared to the same quarter of the prior year.
- Provision for credit loss expense increased to
$1 .54 million from$776,000 in the previous quarter and decreased 51% from$3 .16 million the same quarter of the prior year. - Return on average equity (“ROAE”) was 11.99%.
- Return on average assets (“ROAA”) was 1.35%.
- The Company’s tangible common equity ratio was 11.30%, while the Bank’s regulatory leverage capital ratio was 12.20%, and the total risk-based capital ratio was 16.83% at
June 30, 2026 .
“Our second quarter results highlight the momentum we continue to see across the franchise, with strong growth in loans, deposits, and total assets despite a challenging operating environment," said
"During the quarter we've continued to make progress on the matters outlined in our consent order, although ultimate compliance will be determined by our regulators. We are confident we can find resolution with these items going forward."
Update on Stock Repurchase Program:
On
Under the terms of the repurchase plan, the Company may repurchase shares of the Company's common stock from time to time, through
Results of Operations
Quarter ended
Operating revenue, consisting of net interest income before the provision for credit losses and non-interest income, increased 5% to
Net interest income, before the provision for credit losses, increased
The yield on earning assets was 6.00% for the second quarter of 2026, compared to 6.11% for the previous quarter, and 6.18% for the second quarter a year ago. The cost to fund earning assets increased to 1.28% for the second quarter of 2026 compared to 1.22% for the previous quarter, and 1.09% for the same quarter a year earlier. The increase in the cost to fund earnings assets was primarily the result of a continued reliance on wholesale funding due to the bank achieving strong loan production over the last few quarters but lagging its planned core deposit growth. Wholesale funding carried a weighted average rate of 3.95% and 4.01% for the second quarter of 2026 and first quarter of 2026, respectively. Management expects deposits for Bank customers and ISO partners to increase over the remainder of the year, which would allow a reduction in reliance on wholesale funding.
Total non-interest income was
Merchant services revenue increased 16% to
| Merchant ISO Processing Volumes (in thousands) | ||||||||||
| Source | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | |||||
| ISO Partner Sponsorship | $ | 2,877,437 | $ | 2,477,113 | $ | 2,773,101 | $ | 3,099,287 | $ | 5,347,695 |
| FFB Payments- Sub-ISO Merchants | 22,165 | 28,520 | 21,679 | 19,023 | 20,766 | |||||
| FFB Payments- Direct Merchants | 34,368 | 19,587 | 26,347 | 28,573 | 71,746 | |||||
| Total volume | $ | 2,933,970 | $ | 2,525,220 | $ | 2,821,127 | $ | 3,146,883 | $ | 5,440,207 |
| Merchant ISO Processing Revenues (in thousands) | |||||||||||||
| Source of Revenue | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | ||||||||
| Net Revenue*: | |||||||||||||
| ISO Partner Sponsorship | $ | 1,332 | $ | 1,188 | $ | 1,339 | $ | 1,937 | $ | 2,654 | |||
| Gross Revenue: | |||||||||||||
| FFB Payments- Sub-ISO Merchants | 793 | 684 | 726 | 633 | 727 | ||||||||
| FFB Payments- Direct Merchants | 780 | 624 | 580 | 640 | 3,228 | ||||||||
| 1,573 | 1,308 | 1,306 | 1,273 | 3,955 | |||||||||
| Gross Expense: | |||||||||||||
| FFB Payments- Sub-ISO Merchants | 689 | 724 | 883 | 780 | 708 | ||||||||
| FFB Payments- Direct Merchants | 657 | 593 | 720 | 801 | 2,179 | ||||||||
| 1,346 | 1,317 | 1,603 | 1,581 | 2,887 | |||||||||
| Net Revenue: | |||||||||||||
| FFB Payments- Sub-ISO Merchants | 104 | (40 | ) | (157 | ) | (147 | ) | 19 | |||||
| FFB Payments- Direct Merchants | 123 | 31 | (140 | ) | (161 | ) | 1,049 | ||||||
| FFB Payments Net Revenue | 227 | (9 | ) | (297 | ) | (308 | ) | 1,068 | |||||
| Net Merchant Services Income: | $ | 1,559 | $ | 1,179 | $ | 1,042 | $ | 1,629 | $ | 3,722 | |||
*ISO Partner Sponsorship is recognized net of expense in Merchant Services Income. FFB Payments revenues are recognized on a gross basis in Merchant Services Income and
Overall, total merchant services revenue for the second quarter of 2026, net of merchant services operating expense, increased 32% when compared to the first quarter of 2026.
Total deposit fee income increased 10% to
Non-interest expense decreased 6% to
Salaries and employee benefits increased 4% to
Occupancy and equipment expenses increased 37% from a year ago, representing 3% of non-interest expense, and decreased 10% from the previous quarter. These increases year-over-year are the result of additional rent and other expenses related to office expansion. During the quarter expenses related to furniture and other equipment decreased. Merchant operating expense totaled
Professional fees, which consist of legal, audit, and consulting expenses, increased 22% to
Data and technology expenses increased 5% to
Other operating expense decreased 2% or
The efficiency ratio was 62.20% for the second quarter of 2026, compared to 57.15% for the same quarter a year ago, and 69.89% for the previous quarter, which is primarily the result of changes in other operating expenses. This ratio can also fluctuate period-over-period based on changes in merchant services' gross revenues and associated expenses. In addition to the primary efficiency ratio, the Company also calculates an adjusted efficiency ratio, a non-GAAP measure, where merchant services' gross expense is netted against merchant services' revenue in non-interest income. This expense would traditionally be included in non-interest expense. The adjusted efficiency ratio was 59.96% for the second quarter of 2026, compared to 52.14% for the same quarter a year ago, and 68.05% for the previous quarter. “We are making intentional investments in technology, talent, and products to position the Company for sustainable balance sheet growth and higher recurring revenue. While these actions impact the efficiency ratio in the near term, we expect operating leverage to improve as growth accelerates over the next several quarters, driving the efficiency ratio lower,” said Miller.
Six months ended
For the six months ended
For the six months ended
For the six months ended
For the six months ended
Balance Sheet Review
Total assets increased 10% to
The total loan portfolio increased 15%, or
Commercial real estate loans increased 6% year-over-year to
The real estate construction and land development loan portfolio increased 170% from a year ago to
The commercial and industrial (C&I) portfolio increased 16% to
Agriculture loans of
Investment securities totaled
Total deposits increased 12%, or
Included in total non-interest bearing deposits at
The Company has continued its regional loan production office ("LPO") expansion during 2026 by adding a receivables financing team which utilizes a third party platform, Business Manager, to efficiently manage this unique business line. The Business Manager product line is led by a senior business leader and a support team acquired late in 2025. They have a nationwide approach while also supporting the core bank commercial lenders in cross-selling this product. To date the Bank has approved
We organize our loan and deposit operations into three geographic regions in
| Balances by Region or Business Line as of | ||||||
| Loans | Deposits | |||||
| $ | 792,642 | $ | 956,631 | |||
| 23,139 | 39,848 | |||||
| 106,656 | 126,608 | |||||
| Wholesale Multifamily | 211,703 | Wholesale Funding | 159,033 | |||
| SBA | 126,562 | 102,466 | ||||
| Total | $ | 1,260,702 | Total | $ | 1,384,586 | |
There were
| Liquidity Source (in thousands) | ||||
| Cash and cash equivalents | $ | 47,457 | $ | 42,974 |
| Unpledged investment securities, fair value | 23,231 | 99,789 | ||
| FHLB advance capacity | 352,774 | 311,409 | ||
| Federal Reserve discount window capacity | 148,288 | 149,466 | ||
| Correspondent bank unsecured lines of credit | 71,500 | 71,500 | ||
| $ | 643,250 | $ | 675,138 | |
The total primary and secondary liquidity of
Shareholders’ equity increased 5% to
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
Asset Quality
Nonperforming assets, which consist of nonperforming loans and other real estate owned, increased 27.44% to
Past due accruing loans 30-60 days were
Of the
| Delinquent Loan Summary | Delinquent accruing loans 30-59 days | Delinquent accruing loans 60-89 days | Delinquent accruing loans 90+ days | Total | Govt. Guaranteed Amount | Unguaranteed Amount | ||||||
| (in thousands) | ||||||||||||
| Loan type | ||||||||||||
| Commercial and industrial | $ | 2,195 | $ | 59 | $ | 45 | $ | 2,299 | $ | 45 | $ | 2,254 |
| Commercial real estate: | ||||||||||||
| CRE owner-occupied | 480 | — | — | 480 | 432 | 48 | ||||||
| Agriculture | — | — | 186 | 186 | 186 | — | ||||||
| $ | 2,675 | $ | 59 | $ | 231 | $ | 2,965 | $ | 663 | $ | 2,302 | |
| Non-Accrual Loan Summary | Total | Govt. Guaranteed Amount | Unguaranteed Amount | Individual Allowance (ACL) | ||||
| (in thousands) | ||||||||
| Loan Type | ||||||||
| Commercial and industrial | $ | 28,352 | $ | 20,199 | $ | 8,153 | $ | 5,316 |
| Commercial real estate: | ||||||||
| Multifamily | 10,000 | — | 10,000 | 2,895 | ||||
| CRE owner-occupied | 5,885 | 1,691 | 4,194 | 83 | ||||
| $ | 44,237 | $ | 21,890 | $ | 22,347 | $ | 8,294 | |
There was a
The ratio of allowance for credit losses to total loans was 1.40% at
"As we execute our strategic plan, which includes process improvement, we have centralized collections and special asset management into one unit to better manage under-performing assets,” added Miller. “We incurred net charge-offs of
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 in 2025 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 management's 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
| Select Financial Information and Ratios | For the Quarter Ended: | Year to Date as of: | |||||||||||||||||
| BALANCE SHEET- ENDING BALANCES: | |||||||||||||||||||
| Total assets | $ | 1,617,413 | $ | 1,573,506 | $ | 1,473,927 | |||||||||||||
| Total portfolio loans | 1,260,702 | 1,210,334 | 1,091,964 | ||||||||||||||||
| Investment securities | 260,911 | 252,955 | 254,177 | ||||||||||||||||
| Total deposits | 1,384,586 | 1,340,945 | 1,234,648 | ||||||||||||||||
| Shareholders equity, net | 182,784 | 182,842 | 173,908 | ||||||||||||||||
| INCOME STATEMENT DATA | |||||||||||||||||||
| Operating revenue | 24,053 | 22,914 | 27,349 | 46,967 | 55,825 | ||||||||||||||
| Operating expense | 14,961 | 15,976 | 15,768 | 30,937 | 32,235 | ||||||||||||||
| Pre-tax, pre-provision income | 9,092 | 6,938 | 11,581 | 16,030 | 23,590 | ||||||||||||||
| Net income after tax | 5,477 | 4,585 | 6,036 | 10,062 | 14,134 | ||||||||||||||
| SHARE DATA | |||||||||||||||||||
| Basic earnings per share | $ | 1.89 | $ | 1.53 | $ | 1.95 | $ | 3.41 | $ | 4.51 | |||||||||
| Fully diluted EPS | $ | 1.88 | $ | 1.53 | $ | 1.94 | $ | 3.40 | $ | 4.50 | |||||||||
| Book value per common share | $ | 63.80 | $ | 61.85 | $ | 56.87 | |||||||||||||
| Common shares outstanding | 2,864,926 | 2,956,265 | 3,057,874 | ||||||||||||||||
| Fully diluted shares | 2,912,210 | 2,999,826 | 3,104,067 | 2,955,783 | 3,139,346 | ||||||||||||||
| FFBB - Stock price | $ | 85.75 | $ | 85.65 | $ | 78.00 | |||||||||||||
| RATIOS | |||||||||||||||||||
| Return on average assets | 1.35 | % | 1.19 | % | 1.59 | % | 1.28 | % | 1.86 | % | |||||||||
| Return on average equity | 11.99 | % | 9.93 | % | 13.75 | % | 10.96 | % | 16.26 | % | |||||||||
| Efficiency ratio | 62.20 | % | 69.89 | % | 57.15 | % | 65.95 | % | 57.49 | % | |||||||||
| Adjusted efficiency ratio | 59.96 | % | 68.05 | % | 52.14 | % | 63.90 | % | 52.34 | % | |||||||||
| Yield on earning assets | 6.00 | % | 6.11 | % | 6.18 | % | 6.05 | % | 6.24 | % | |||||||||
| Yield on investment securities | 3.72 | % | 3.48 | % | 4.13 | % | 3.60 | % | 4.25 | % | |||||||||
| Yield on portfolio loans | 6.56 | % | 6.55 | % | 6.70 | % | 6.56 | % | 6.75 | % | |||||||||
| Cost to fund earning assets | 1.28 | % | 1.22 | % | 1.09 | % | 1.25 | % | 1.02 | % | |||||||||
| Cost of interest-bearing deposits | 2.90 | % | 2.83 | % | 2.81 | % | 2.87 | % | 2.71 | % | |||||||||
| Net Interest Margin | 4.71 | % | 4.89 | % | 5.09 | % | 4.80 | % | 5.22 | % | |||||||||
| Equity to assets | 11.30 | % | 11.62 | % | 11.80 | % | |||||||||||||
| Net loan to deposit ratio | 89.54 | % | 90.09 | % | 86.91 | % | |||||||||||||
| Full time equivalent employees | 191 | 199 | 181 | ||||||||||||||||
| BALANCE SHEET- AVERAGES | |||||||||||||||||||
| Total assets | 1,624,113 | 1,557,814 | 1,525,601 | 1,591,146 | 1,528,570 | ||||||||||||||
| Total portfolio loans | 1,252,046 | 1,215,806 | 1,112,380 | 1,234,026 | 1,094,712 | ||||||||||||||
| Investment securities | 252,879 | 240,666 | 289,127 | 246,806 | 307,312 | ||||||||||||||
| Total deposits | 1,410,161 | 1,328,707 | 1,281,357 | 1,369,659 | 1,290,901 | ||||||||||||||
| Shareholders equity, net | 183,148 | 187,270 | 176,074 | 185,198 | 175,247 | ||||||||||||||
| Consolidated Balance Sheet (unaudited) | |||||||||||
| (in thousands) | |||||||||||
| ASSETS | |||||||||||
| Cash and due from banks | $ | 31,566 | $ | 35,993 | $ | 55,897 | |||||
| Interest bearing deposits in banks | 15,891 | 6,981 | 21,347 | ||||||||
| CDs in other banks | — | — | 1,722 | ||||||||
| Investment securities | 260,911 | 252,955 | 254,177 | ||||||||
| Loans held for sale | — | 18,328 | — | ||||||||
| Construction & land development | 34,486 | 29,718 | 12,784 | ||||||||
| Residential RE 1-4 family | 42,811 | 40,515 | 17,066 | ||||||||
| Commercial real estate | 724,165 | 726,774 | 683,743 | ||||||||
| Agriculture | 116,963 | 100,490 | 109,926 | ||||||||
| Commercial and industrial | 300,527 | 291,739 | 260,082 | ||||||||
| Business manager | 41,075 | 20,353 | 6,728 | ||||||||
| Consumer and other | 675 | 745 | 1,635 | ||||||||
| Portfolio loans | 1,260,702 | 1,210,334 | 1,091,964 | ||||||||
| Deferred fees & costs | (3,349 | ) | (3,582 | ) | (3,541 | ) | |||||
| Allowance for credit losses | (17,640 | ) | (16,999 | ) | (15,330 | ) | |||||
| Loans, net | 1,239,713 | 1,189,753 | 1,073,093 | ||||||||
| Non-marketable equity investments | 11,198 | 10,419 | 9,809 | ||||||||
| Cash value of life insurance | 13,005 | 12,900 | 12,594 | ||||||||
| Other real estate owned | — | — | 949 | ||||||||
| Accrued interest and other assets | 45,129 | 46,177 | 44,339 | ||||||||
| Total assets | $ | 1,617,413 | $ | 1,573,506 | $ | 1,473,927 | |||||
| LIABILITIES AND EQUITY | |||||||||||
| Non-interest bearing deposits | $ | 726,636 | $ | 740,014 | $ | 759,300 | |||||
| Interest checking | 135,611 | 135,236 | 75,815 | ||||||||
| Savings | 50,181 | 49,727 | 49,657 | ||||||||
| Money market | 299,648 | 246,128 | 183,071 | ||||||||
| Certificates of deposits | 172,510 | 169,840 | 166,805 | ||||||||
| Total deposits | 1,384,586 | 1,340,945 | 1,234,648 | ||||||||
| Short-term borrowings | 25,000 | 25,000 | 16,000 | ||||||||
| Long-term debt | 9,901 | 9,896 | 38,086 | ||||||||
| Other liabilities | 15,142 | 14,823 | 11,285 | ||||||||
| Total liabilities | 1,434,629 | 1,390,664 | 1,300,019 | ||||||||
| Common stock | 37,535 | 38,235 | 29,501 | ||||||||
| Retained earnings | 157,900 | 159,079 | 162,272 | ||||||||
| Accumulated other comprehensive loss | (12,651 | ) | (14,472 | ) | (17,865 | ) | |||||
| Shareholders' equity | 182,784 | 182,842 | 173,908 | ||||||||
| Total liabilities and shareholders' equity | $ | 1,617,413 | $ | 1,573,506 | $ | 1,473,927 | |||||
| Consolidated Income Statement (unaudited) | Quarter ended: | Year to date: | ||||||||||||||
| (in thousands) | ||||||||||||||||
| INTEREST INCOME: | ||||||||||||||||
| Loan interest income | $ | 20,477 | $ | 19,644 | $ | 18,582 | $ | 40,121 | $ | 36,651 | ||||||
| Investment income | 2,345 | 2,067 | 2,978 | 4,412 | 6,477 | |||||||||||
| Int. on fed funds & CDs in other banks | 79 | 205 | 270 | 284 | 844 | |||||||||||
| Dividends from non-marketable equity | 90 | 350 | 141 | 440 | 272 | |||||||||||
| Total interest income | 22,991 | 22,266 | 21,971 | 45,257 | 44,244 | |||||||||||
| INTEREST EXPENSE: | ||||||||||||||||
| Int. on deposits | 4,765 | 4,068 | 3,288 | 8,833 | 6,178 | |||||||||||
| Int. on short-term borrowings | 35 | 24 | 126 | 59 | 158 | |||||||||||
| Int. on long-term debt | 112 | 351 | 451 | 463 | 902 | |||||||||||
| Total interest expense | 4,912 | 4,443 | 3,865 | 9,355 | 7,238 | |||||||||||
| Net interest income | 18,079 | 17,823 | 18,106 | 35,902 | 37,006 | |||||||||||
| PROVISION FOR CREDIT LOSSES | 1,541 | 776 | 3,157 | 2,317 | 4,321 | |||||||||||
| Net interest income after provision | 16,538 | 17,047 | 14,949 | 33,585 | 32,685 | |||||||||||
| NON-INTEREST INCOME: | ||||||||||||||||
| Total deposit fee income | 1,004 | 912 | 854 | 1,916 | 1,703 | |||||||||||
| Debit / credit card interchange income | 198 | 178 | 215 | 376 | 407 | |||||||||||
| Merchant services income | 2,905 | 2,496 | 6,609 | 5,401 | 14,473 | |||||||||||
| Gain on sale of loans | 1,366 | 941 | 1,446 | 2,307 | 1,707 | |||||||||||
| Gain (loss) on sale of investments | — | 55 | (243 | ) | 55 | (243 | ) | |||||||||
| Other operating income | 501 | 509 | 362 | 1,010 | 772 | |||||||||||
| Total non-interest income | 5,974 | 5,091 | 9,243 | 11,065 | 18,819 | |||||||||||
| NON-INTEREST EXPENSE: | ||||||||||||||||
| Salaries & employee benefits | 8,336 | 9,010 | 8,002 | 17,346 | 16,058 | |||||||||||
| Occupancy expense | 483 | 535 | 352 | 1,018 | 705 | |||||||||||
| Merchant services operating expense | 1,346 | 1,317 | 2,887 | 2,663 | 6,060 | |||||||||||
| Professional fees | 1,230 | 1,027 | 1,009 | 2,257 | 1,828 | |||||||||||
| Data & technology expense | 1,618 | 1,726 | 1,534 | 3,344 | 2,801 | |||||||||||
| Other operating expense | 1,948 | 2,361 | 1,984 | 4,309 | 4,783 | |||||||||||
| Total non-interest expense | 14,961 | 15,976 | 15,768 | 30,937 | 32,235 | |||||||||||
| Income before provision for income tax | 7,551 | 6,162 | 8,424 | 13,713 | 19,269 | |||||||||||
| PROVISION FOR INCOME TAXES | 2,074 | 1,577 | 2,388 | 3,651 | 5,135 | |||||||||||
| Net income | $ | 5,477 | $ | 4,585 | $ | 6,036 | $ | 10,062 | $ | 14,134 | ||||||
| ASSET QUALITY | |||||||||||
| (in thousands) | |||||||||||
| Delinquent accruing loans 30-60 days | $ | 2,675 | $ | 6,307 | $ | 1,796 | |||||
| Delinquent accruing loans 60-90 days | 59 | 315 | 1,020 | ||||||||
| Delinquent accruing loans 90+ days | 231 | 45 | 46 | ||||||||
| Total delinquent accruing loans | $ | 2,965 | $ | 6,667 | $ | 2,862 | |||||
| Loans on non-accrual | $ | 44,237 | $ | 34,713 | $ | 26,285 | |||||
| Other real estate owned | — | — | 949 | ||||||||
| Nonperforming assets | $ | 44,237 | $ | 34,713 | $ | 27,234 | |||||
| Delinquent 30-60 / Total Loans | 0.21 | % | 0.52 | % | 0.16 | % | |||||
| Delinquent 60-90 / Total Loans | — | % | 0.03 | % | 0.09 | % | |||||
| Delinquent 90+ / Total Loans | 0.02 | % | — | % | — | % | |||||
| Delinquent Loans / Total Loans | 0.24 | % | 0.55 | % | 0.26 | % | |||||
| Non-accrual / Total Loans | 3.51 | % | 2.87 | % | 2.41 | % | |||||
| Nonperforming assets to total assets | 2.74 | % | 2.21 | % | 1.85 | % | |||||
| Year-to-date charge-off activity | |||||||||||
| Charge-offs | $ | 1,998 | $ | 702 | $ | 772 | |||||
| Recoveries | 27 | 11 | — | ||||||||
| Net charge-offs (recoveries) | $ | 1,971 | $ | 691 | $ | 772 | |||||
| Annualized net loan losses to average loans | 0.32 | % | 0.23 | % | 0.14 | % | |||||
| CREDIT LOSS RESERVE RATIOS: | |||||||||||
| Allowance for credit losses | $ | 17,640 | $ | 16,999 | $ | 15,330 | |||||
| Total loans | $ | 1,260,702 | $ | 1,210,334 | $ | 1,091,964 | |||||
| Purchased govt. guaranteed loans | $ | 2,144 | $ | 13,891 | $ | 15,138 | |||||
| Originated govt. guaranteed loans | $ | 60,848 | $ | 49,134 | $ | 38,224 | |||||
| ACL / Total loans | 1.40 | % | 1.40 | % | 1.40 | % | |||||
| ACL / Loans less 100% govt. gte. loans (purchased) | 1.40 | % | 1.42 | % | 1.42 | % | |||||
| ACL / Loans less all govt. guaranteed loans | 1.47 | % | 1.48 | % | 1.48 | % | |||||
| ACL / Total assets | 1.09 | % | 1.08 | % | 1.04 | % | |||||
| SELECT FINANCIAL TREND INFORMATION | For the Quarter Ended: | ||||||||||||||
| BALANCE SHEET- PERIOD END | |||||||||||||||
| Total assets | $ | 1,617,413 | $ | 1,573,506 | $ | 1,581,522 | $ | 1,499,233 | $ | 1,473,927 | |||||
| Loans held for sale | — | 18,328 | — | 23,457 | — | ||||||||||
| Loans held for investment | 1,260,702 | 1,210,334 | 1,196,424 | 1,121,924 | 1,091,964 | ||||||||||
| Investment securities | 260,911 | 252,955 | 240,997 | 248,282 | 254,177 | ||||||||||
| Non-interest bearing deposits | 726,636 | 740,014 | 786,249 | 758,237 | 759,300 | ||||||||||
| Interest bearing deposits | 657,950 | 600,931 | 557,400 | 500,024 | 475,348 | ||||||||||
| Total deposits | 1,384,586 | 1,340,945 | 1,343,649 | 1,258,261 | 1,234,648 | ||||||||||
| Short-term borrowings | 25,000 | 25,000 | — | 7,000 | 16,000 | ||||||||||
| Long-term debt | 9,901 | 9,896 | 38,153 | 38,125 | 38,086 | ||||||||||
| Total equity | 195,435 | 197,314 | 197,251 | 193,753 | 191,773 | ||||||||||
| Accumulated other comprehensive loss | (12,651 | ) | (14,472 | ) | (12,456 | ) | (14,329 | ) | (17,865 | ) | |||||
| Shareholders' equity | 182,784 | 182,842 | 184,795 | 179,424 | 173,908 | ||||||||||
| QUARTERLY INCOME STATEMENT | |||||||||||||||
| Interest income | $ | 22,991 | $ | 22,266 | $ | 22,420 | $ | 22,029 | $ | 21,971 | |||||
| Interest expense | 4,912 | 4,443 | 4,338 | 3,975 | 3,865 | ||||||||||
| Net interest income | 18,079 | 17,823 | 18,082 | 18,054 | 18,106 | ||||||||||
| Non-interest income | 5,974 | 5,091 | 5,253 | 5,438 | 9,243 | ||||||||||
| Gross revenue | 24,053 | 22,914 | 23,335 | 23,492 | 27,349 | ||||||||||
| Provision for credit losses | 1,541 | 776 | 3,932 | 687 | 3,157 | ||||||||||
| Non-interest expense | 14,961 | 15,976 | 14,732 | 14,273 | 15,768 | ||||||||||
| Net income before tax | 7,551 | 6,162 | 4,671 | 8,532 | 8,424 | ||||||||||
| Tax provision | 2,074 | 1,577 | 1,458 | 2,296 | 2,388 | ||||||||||
| Net income after tax | 5,477 | 4,585 | 3,213 | 6,236 | 6,036 | ||||||||||
| BALANCE SHEET- AVERAGE BALANCE | |||||||||||||||
| Total assets | $ | 1,624,113 | $ | 1,557,814 | $ | 1,569,615 | $ | 1,480,234 | $ | 1,525,601 | |||||
| Loans held for sale | 24,214 | 315 | 292 | 1,190 | — | ||||||||||
| Loans held for investment | 1,252,046 | 1,215,806 | 1,190,626 | 1,120,353 | 1,112,380 | ||||||||||
| Investment securities | 252,879 | 240,666 | 245,335 | 251,213 | 289,127 | ||||||||||
| Non-interest bearing deposits | 751,008 | 745,288 | 785,452 | 751,139 | 812,753 | ||||||||||
| Interest bearing deposits | 659,153 | 583,419 | 532,365 | 493,430 | 468,604 | ||||||||||
| Total deposits | 1,410,161 | 1,328,707 | 1,317,817 | 1,244,569 | 1,281,357 | ||||||||||
| Short-term borrowings | 3,011 | 2,921 | — | 446 | 11,110 | ||||||||||
| Long-term debt | 9,899 | 23,397 | 38,153 | 38,107 | 38,068 | ||||||||||
| Shareholders' equity | 183,148 | 187,270 | 187,713 | 175,101 | 176,074 | ||||||||||
Contact:
(559) 439-0200
