FFB Bancorp reports Q2 net income of $5.48 million
FFB Bancorp reported Q2 net income of $5.48 million, up from $4.59 million in the prior quarter, supported by a 4% increase in loans to $1.26 billion and a 3% rise in deposits to $1.38 billion. Operating revenue grew 5% to $24.05 million, though the net interest margin contracted by 18 basis points to 4.71%. The company repurchased $7.84 million of stock during the quarter, while nonperforming assets increased to $44.24 million.
*this image is generated using AI for illustrative purposes only.
FFB Bancorp reported net income of $5.48 million, or $1.88 per diluted share, for the second quarter of 2026, compared to $4.59 million, or $1.53 per diluted share, for the first quarter of 2026. The company’s total loan portfolio increased 4% to $1.26 billion from the previous quarter, while total deposits grew 3% to $1.38 billion. Total assets rose 3% to $1.62 billion.
Operating revenue increased 5% to $24.05 million for the quarter, driven by gains in loan and investment interest income and merchant services income. Net interest margin decreased 18 basis points to 4.71% compared to the prior quarter. The provision for credit loss expense increased to $1.54 million from $776,000 in the first quarter.
Balance Sheet and Capital
Shareholders’ equity remained stable at $182.78 million at the end of the quarter. The tangible common equity ratio was 11.30%, and the regulatory leverage capital ratio was 12.20%. The company’s return on average equity was 11.99%, and return on average assets was 1.35%.
Stock Repurchase Program
During the second quarter of 2026, FFB Bancorp repurchased 91,577 shares at an average price of $85.63, totaling $7.84 million. As of June 30, 2026, the company had repurchased 154,344 shares under the $15.0 million plan authorized on January 26, 2026.
Asset Quality
Nonperforming assets increased 27.44% to $44.24 million, or 2.74% of total assets, compared to the previous quarter. Management attributed the increase primarily to two commercial and industrial relationships that are 75% SBA guaranteed. The ratio of allowance for credit losses to total loans was 1.40%.
| Metric | Q2 2026 | Q1 2026 | Q2 2025 |
|---|---|---|---|
| Net income | $5.48 million | $4.59 million | $6.04 million |
| Diluted EPS | $1.88 | $1.53 | $1.94 |
| Net interest margin | 4.71% | 4.89% | 5.09% |
| Total loans | $1.26 billion | $1.21 billion | $1.09 billion |
| Total deposits | $1.38 billion | $1.34 billion | $1.23 billion |
| Nonperforming assets | $44.24 million | $34.71 million | $27.23 million |
How will the recent 18 basis point compression in net interest margin impact profitability if interest rates remain elevated?
What specific strategies will management employ to manage the elevated level of nonperforming assets beyond the identified SBA-guaranteed relationships?
Will the company continue its aggressive share repurchase pace given that over half of the authorized $15 million plan has been utilized in just two quarters?
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