The Bancorp(US:TBBK) Globenewswire·2025-10-30 13:00Core Insights - First Pacific Bancorp reported strong financial performance for Q3 2025, with a pre-tax, pre-provision profit of $853 thousand, up from $634 thousand in Q2 2025 and $345 thousand in Q3 2024 [3] - The company achieved a net income of $607 thousand for Q3 2025, significantly higher than $249 thousand in Q3 2024, indicating robust year-over-year growth [3] - Asset quality remains excellent, with minimal non-performing assets and an allowance for credit losses of 0.98% of total loans, alongside zero loan losses [4] Financial Performance - For the nine months ending September 30, 2025, the company reported a pre-tax, pre-provision profit of $2.04 million and net income of $1.45 million [3] - Total assets reached $486 million, an increase of $53 million since the end of 2024 [7] - Total deposits were $390 million, up $39 million since year-end 2024, while total loans increased to $320 million, up $43 million from year-end 2024 [7] Capital and Liquidity - The company maintains a healthy capital position, with a leverage capital ratio of 8.74% and a total risk-based capital ratio of 12.16% [7] - Cash and cash equivalents totaled $52 million, reflecting an increase of $11 million since year-end 2024 [7] - Unused borrowing capacity from credit facilities amounted to $163 million as of September 30, 2025 [7] Management Commentary - The Chairman expressed satisfaction with the third-quarter performance, highlighting organic growth, stable credit quality, and improving profitability [4] - The CEO emphasized the bank's commitment to disciplined risk management and building lasting relationships with clients in Southern California [4] Earnings and Ratios - The net interest income for Q3 2025 was $4.11 million, compared to $3.91 million in Q2 2025 [15] - The efficiency ratio improved to 79.9% in Q3 2025 from 84.1% in Q2 2025, indicating better cost management [16] - Return on average assets was 0.52% for Q3 2025, up from 0.41% in Q2 2025 [16]