UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended June 30, 2025 OR Maryland 99-1859402 (State or Other Jurisdiction of Incorporation or Organization) (I.R.S. Employer Identification Number) 353 Carondelet Street, New Orleans, Louisiana 70130 (Address of Principal Executive Offices) (Zip Code) (504) 569-8640 (Registrant's Telephone Number, Including Area Cod ...

[Part I - Financial Information](index=3&type=section&id=Part%20I.%20-%20Financial%20Information) [Item 1. Financial Statements (unaudited)](index=3&type=section&id=Item%201.%20Financial%20Statements%20(unaudited)) This section presents FB Bancorp, Inc.'s unaudited consolidated financial statements for Q1 2025 and 2024, detailing the company's financial position and performance [Consolidated Statements of Financial Condition](index=4&type=section&id=Consolidated%20Statements%20of%20Financial%20Condition) Total assets increased to **$1.238 billion** at March 31, 2025, driven by net loan growth and funded by increased deposits, with total stockholders' equity reaching **$331.4 million** Consolidated Balance Sheet Highlights (Unaudited) | Account | March 31, 2025 ($ thousands) | December 31, 2024 ($ thousands) | | :--- | :--- | :--- | | **Total Assets** | **$1,237,774** | **$1,220,933** | | Total cash and cash equivalents | $98,575 | $98,845 | | Loans held for investment, net | $764,390 | $750,653 | | Total deposits | $823,445 | $800,742 | | **Total Liabilities** | **$906,365** | **$894,678** | | **Total Stockholders' Equity** | **$331,409** | **$326,255** | [Consolidated Statements of Operations](index=5&type=section&id=Consolidated%20Statements%20of%20Operations) The company reported **$705 thousand** net income for Q1 2025, a turnaround from a **$807 thousand** net loss in Q1 2024, driven by increased net interest income and reduced non-interest expenses Quarterly Operating Results (Unaudited) | Metric | Q1 2025 ($ thousands) | Q1 2024 ($ thousands) | | :--- | :--- | :--- | | Total interest and dividend income | $16,918 | $15,245 | | Total interest expense | $4,117 | $4,365 | | **Net interest income** | **$12,801** | **$10,880** | | Provision for credit losses | $385 | $245 | | Total non-interest income | $4,402 | $4,713 | | Total non-interest expenses | $15,940 | $16,385 | | **Net income (loss)** | **$705** | **$(807)** | | **Earnings (losses) per share** | **$0.04** | **N/A** | [Consolidated Statements of Comprehensive Income (Loss)](index=6&type=section&id=Consolidated%20Statements%20of%20Comprehensive%20Income%20(Loss)) Total comprehensive income for Q1 2025 was **$4.97 million**, a significant improvement from a **$3.37 million** loss in Q1 2024, primarily due to net income and unrealized gains on securities Comprehensive Income (Loss) Summary (Unaudited) | Component | Q1 2025 ($ thousands) | Q1 2024 ($ thousands) | | :--- | :--- | :--- | | Net income (loss) | $705 | $(807) | | Other comprehensive income (loss) | $4,267 | $(2,566) | | **Total comprehensive income (loss)** | **$4,972** | **$(3,373)** | [Consolidated Statements of Changes in Stockholders' Equity](index=7&type=section&id=Consolidated%20Statements%20of%20Changes%20in%20Stockholders'%20Equity) Stockholders' equity increased to **$331.4 million** at March 31, 2025, from **$326.3 million** at year-end 2024, primarily due to **$5.0 million** in total comprehensive income - Total stockholders' equity increased to **$331.4 million** at March 31, 2025, up from **$326.3 million** at December 31, 2024[17](index=17&type=chunk) - The growth in equity was mainly due to net income of **$705 thousand** and other comprehensive income (net of tax) of **$4.27 million**[17](index=17&type=chunk) [Consolidated Statements of Cash Flows](index=8&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Cash and cash equivalents slightly decreased by **$270 thousand** in Q1 2025, with operating and financing cash inflows offset by significant outflows from investing activities, primarily for loan growth Cash Flow Summary (Unaudited) | Activity | Q1 2025 ($ thousands) | Q1 2024 ($ thousands) | | :--- | :--- | :--- | | Net cash from operating activities | $7,036 | $(10,347) | | Net cash used in investing activities | $(17,136) | $(26,010) | | Net cash from financing activities | $9,830 | $(2,864) | | **Net change in cash** | **$(270)** | **$(39,221)** | [Notes to the Unaudited Financial Statements](index=9&type=section&id=Notes%20to%20the%20Unaudited%20Financial%20Statements) This section provides detailed explanations of accounting policies and breakdowns of financial statement figures, covering investment securities, loan portfolio, deposits, borrowings, capital, and segment information - The company was incorporated on February 29, 2024, and completed its conversion from a mutual to a stock organization on October 22, 2024, raising gross proceeds of **$198.4 million**[7](index=7&type=chunk) - The company has two reportable segments: traditional banking and mortgage banking. For Q1 2025, the traditional banking segment was profitable (**$1.8 million profit**), while the mortgage banking segment incurred a loss (**$1.1 million loss**)[105](index=105&type=chunk)[106](index=106&type=chunk) Loan Portfolio Composition (March 31, 2025) | Loan Type | Amount ($ thousands) | % of Total | | :--- | :--- | :--- | | Residential mortgage | $291,028 | 37.7% | | Commercial | $350,706 | 45.4% | | Consumer | $129,974 | 16.8% | | **Total Loans** | **$771,708** | **100.0%** | Allowance for Credit Losses (ACL) Activity - Q1 2025 | Metric | Amount ($ thousands) | | :--- | :--- | | Beginning Balance (Jan 1, 2025) | $6,244 | | Charge-offs | $(458) | | Recoveries | $24 | | Provision for Credit Loss | $385 | | **Ending Balance (Mar 31, 2025)** | **$6,195** | [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=35&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's financial condition and operating results, highlighting a return to profitability driven by improved net interest income and reduced expenses, alongside strategic focuses on loan growth, asset quality, and digital banking [Business Strategy](index=35&type=section&id=Business%20Strategy) The company's strategy focuses on building stockholder value through profitable, community-oriented banking, emphasizing prudent loan growth, asset quality, core deposit expansion, and digital banking investments - Continue to grow and diversify the loan portfolio, with an emphasis on increasing commercial real estate and commercial loans[117](index=117&type=chunk) - The NOLA Lending division will continue originating residential mortgage loans primarily for sale into the secondary market[117](index=117&type=chunk) - Focus on attracting and retaining low-cost core deposits, which constituted **59.8%** of total deposits at March 31, 2025[117](index=117&type=chunk) - Invest in online and fully digital banking platforms (like "Andi") to expand the customer base[117](index=117&type=chunk) [Comparison of Financial Condition](index=40&type=section&id=Comparison%20of%20Financial%20Condition) Total assets grew by **$16.8 million** to **$1.24 billion** at March 31, 2025, primarily funded by a **$22.7 million** increase in deposits, supporting loan growth and a **$12.0 million** reduction in borrowings - Total assets grew by **$16.8 million**, or **1.4%**, to **$1.24 billion** at March 31, 2025[133](index=133&type=chunk) - Net loans held for investment increased by **$13.7 million**, driven by growth in commercial real estate and residential construction loans[136](index=136&type=chunk) - Deposits increased by **$22.7 million**, with core deposits up **$7.7 million** and certificates of deposit up **$14.9 million**[138](index=138&type=chunk) - Borrowings were paid down by **$12.0 million**, or **16.3%**, utilizing proceeds from the stock conversion and deposit growth[139](index=139&type=chunk) [Comparison of Operating Results](index=42&type=section&id=Comparison%20of%20Operating%20Results) The company reported **$705 thousand** net income for Q1 2025, a significant improvement from a **$807 thousand** net loss in Q1 2024, driven by a **$1.9 million** increase in net interest income and **$445 thousand** reduction in non-interest expenses - Net income was **$705 thousand** in Q1 2025 versus a net loss of **$807 thousand** in Q1 2024[146](index=146&type=chunk) - Net interest income increased by **$1.9 million** (**17.7%**) due to higher interest income on loans and a **$1.1 million** decrease in interest expense on borrowed funds[146](index=146&type=chunk)[151](index=151&type=chunk)[153](index=153&type=chunk) - Non-interest expense decreased by **$445 thousand** (**2.7%**), driven by a **$526 thousand** reduction in salaries and employee benefits, particularly in the mortgage banking segment[158](index=158&type=chunk) - The provision for credit losses was **$385 thousand**, an increase from **$245 thousand** in the prior year, primarily due to loan growth[154](index=154&type=chunk) [Management of Market Risk](index=44&type=section&id=Management%20of%20Market%20Risk) The company manages interest rate risk by modeling impacts on Economic Value of Equity (EVE) and Net Interest Income (NII), with sensitivities for a 200 basis point rate change remaining within board-approved limits Economic Value of Equity (EVE) Sensitivity (March 31, 2025) | Rate Change (bps) | Estimated % Change in EVE | | :--- | :--- | | +200 | (5.30)% | | +100 | (2.13)% | | -100 | 1.76% | | -200 | 1.29% | Net Interest Income (NII) Sensitivity - Year 1 (March 31, 2025) | Rate Change (bps) | Estimated % Change in NII | | :--- | :--- | | +200 | 2.70% | | +100 | 1.80% | | -100 | (3.50)% | | -200 | (8.20)% | [Liquidity and Capital Resources](index=46&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains strong liquidity through deposits and cash flows, with access to **$369 million** from FHLB and **$153 million** from the Federal Reserve, while Fidelity Bank remains well-capitalized with a **20.3%** Tier 1 leverage ratio - Primary sources of funds are deposits, loan and security payments, and proceeds from mortgage sales[173](index=173&type=chunk) - As of March 31, 2025, the company had additional borrowing capacity of **$369 million** from the FHLB and **$153 million** from the Federal Reserve[173](index=173&type=chunk) - Fidelity Bank was categorized as well-capitalized with a Tier 1 leverage capital ratio of **20.3%** at March 31, 2025[177](index=177&type=chunk) [Item 3. Quantitative and Qualitative Disclosures about Market Risk](index=47&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) This section incorporates by reference the market risk disclosures detailed in the "Management of Market Risk" section of Item 2, Management's Discussion and Analysis - The disclosures regarding market risk are detailed in the "Management of Market Risk" section of the MD&A[181](index=181&type=chunk) [Item 4. Controls and Procedures](index=47&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and procedures were effective as of March 31, 2025, with no material changes to internal control over financial reporting during the quarter - Management concluded that the company's disclosure controls and procedures were effective as of the end of the period covered by the report[182](index=182&type=chunk) - No changes in internal control over financial reporting occurred during the quarter that have materially affected, or are reasonably likely to materially affect, internal controls[182](index=182&type=chunk)[183](index=183&type=chunk) [Part II - Other Information](index=48&type=section&id=Part%20II.%20-%20Other%20Information) [Item 1. Legal Proceedings](index=48&type=section&id=Item%201.%20Legal%20Proceedings) The company is not subject to any pending legal proceedings, and its subsidiary's routine legal actions are not expected to materially affect financial condition - The Company has no pending legal proceedings. The Bank's legal actions are considered ordinary and not expected to be material[185](index=185&type=chunk) [Item 1A. Risk Factors](index=48&type=section&id=Item%201A.%20Risk%20Factors) This item is not applicable as the company qualifies as a smaller reporting company - Not applicable, as the Company is a smaller reporting company[186](index=186&type=chunk) [Item 2. Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities](index=48&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities,%20Use%20of%20Proceeds,%20and%20Issuer%20Purchases%20of%20Equity%20Securities) This item is not applicable for the reporting period - Not applicable[187](index=187&type=chunk) [Item 5. Other Information](index=48&type=section&id=Item%205.%20Other%20Information) No directors or executive officers adopted or terminated any Rule 10b5-1 trading plans or other non-Rule 10b5-1 trading arrangements during Q1 2025 - No directors or executive officers adopted or terminated any Rule 10b5-1 trading plans during the quarter[190](index=190&type=chunk) [Item 6. Exhibits](index=49&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the Form 10-Q, including corporate documents, compensation plans, and CEO/CFO certifications under the Sarbanes-Oxley Act - The report includes certifications from the Chief Executive Officer and Chief Financial Officer as required by Sections 302 and 906 of the Sarbanes-Oxley Act[191](index=191&type=chunk)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-42380 FB Bancorp, Inc. Registrant's telephone number, including area code: (504) 569-8640 Securities registered pursuant to Section 1 ...

SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended September 30, 2024 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission File No. 333-277630 FB Bancorp, Inc. (Exact Name of Registrant as Specified in Its Charter) (State or Other Jurisdiction of Incorporation or Organization) (I.R.S. Em ...