Core Insights - Mendon Capital Advisors Corp acquired 144,000 shares of FB Financial Corporation, valued at approximately $7.62 million, during the third quarter of 2025 [1][2][10] - This acquisition represents about 2.92% of Mendon Capital's total reportable U.S. equity assets, which amount to approximately $260.71 million as of September 30, 2025 [3] Company Overview - FB Financial Corporation is a regional bank holding company based in Nashville, Tennessee, operating through FirstBank with a network of full-service branches and mortgage offices [6] - The company offers a diversified banking and mortgage platform, focusing on both commercial and retail client needs, and emphasizes local market expertise [6][9] - As of December 5, 2025, FB Financial's market capitalization is $3.05 billion, with a trailing twelve months (TTM) revenue of $815.45 million and net income of $103.55 million [4][6] Performance Metrics - FB Financial's stock price was $56.87 as of December 8, 2025, reflecting a 2.2% increase over the past year, although it underperformed the S&P 500 by 12.1 percentage points [3] - Over the last five years, FB Financial's stock has increased by 81%, trailing the S&P 500's total return of 100% but outperforming the State Street SPDR S&P Regional Banking ETF (KRE), which advanced by only 46% during the same period [12][13] - The compound annual growth rate (CAGR) for FB Financial over the last five years is 12.6%, compared to KRE's CAGR of 7.9% [13]

Core Viewpoint - Old Point Financial Corporation's shareholders have approved the merger with TowneBank, marking a significant step towards the completion of the transaction, which is expected to finalize in the second half of 2025, pending regulatory approvals [1][2]. Company Overview - Old Point Financial Corporation (NASDAQ: OPOF) is the parent company of Old Point National Bank and Old Point Wealth Management, serving the Hampton Roads and Richmond regions of Virginia [3]. - Old Point National Bank is a community bank offering a variety of financial services, including checking, insurance, mortgage products, and commercial lending [3]. - Old Point Wealth Management is the largest wealth management provider in Hampton Roads, focusing on local asset management [3]. Merger Details - The merger is seen as a strategic partnership that will enhance value for shareholders and support community growth [2]. - The completion of the merger is subject to customary closing conditions, including regulatory approvals [1].

Financial Performance - Old Point Financial Corporation reported net income of $2.2 million for Q1 2025, a decrease of 25.1% from $2.9 million in Q4 2024, but an increase of 25.7% from $1.7 million in Q1 2024 [1][12] - Diluted earnings per share were $0.42 for Q1 2025, down from $0.57 in Q4 2024 and up from $0.34 in Q1 2024 [1][12] - Adjusted operating earnings for Q1 2025 were $2.0 million, or $0.39 per diluted share, compared to $1.7 million, or $0.34 per share, for Q1 2024 [1] Balance Sheet and Asset Quality - Total assets increased to $1.5 billion as of March 31, 2025, up $418 thousand or 0.03% from December 31, 2024 [7][12] - Net loans held for investment rose to $1.0 billion, an increase of $2.3 million or 0.2% from December 31, 2024 [7][12] - Total deposits were $1.3 billion, up $2.6 million or 0.2% from December 31, 2024, with noninterest-bearing deposits increasing by $15.7 million or 4.4% [8][12] Non-Performing Assets and Credit Losses - Non-performing assets totaled $4.2 million as of March 31, 2025, an increase of 53.9% from $2.7 million at December 31, 2024 [10][12] - The provision for credit losses was $717 thousand for Q1 2025, significantly higher than $90 thousand in Q4 2024 and $80 thousand in Q1 2024 [11][12] Income and Expenses - Net interest income for Q1 2025 was $12.0 million, a decrease of $244 thousand or 2.0% from Q4 2024, but an increase of $468 thousand or 4.1% from Q1 2024 [14][12] - Total noninterest income was $3.8 million for Q1 2025, compared to $3.2 million for both Q4 2024 and Q1 2024 [17][12] - Noninterest expense totaled $12.4 million for Q1 2025, an increase from $12.1 million in Q4 2024 but a decrease from $12.7 million in Q1 2024 [18][12] Capital Management - The Company declared a dividend of $0.14 per share for Q1 2025, consistent with Q4 2024, representing a payout ratio of 33.0% of earnings per share [19][12] - Total stockholders' equity increased to $117.2 million as of March 31, 2025, up $3.2 million or 2.8% from December 31, 2024 [9][12] Merger Agreement - On April 2, 2025, Old Point Financial Corporation entered into a merger agreement with TowneBank, subject to shareholder and regulatory approvals [2][3] - The merger is expected to provide a stronger platform for growth and enhanced value for shareholders, customers, and employees [5][12]