Monitor deposit trends and expense trajectory — the 3.62% deposit decline and 15.73% expense growth are concerning for a small thrift. The aggressive buyback program ($27.6M in H1) is consuming capital while core earnings deteriorate. Next quarter's results will show whether severance-related cost savings materialize as guided.
Price Chart
Executive Summary
FB Bancorp reported Q2 2026 results with net income from continuing operations of $697K, down 32% YoY from $1.03M, driven by a 15.73% increase in non-interest expenses. Net interest margin compressed to 4.20% from 4.65% a year ago. The company continues aggressive share repurchases, buying back $27.6M in stock during H1 2026, but core profitability remains under pressure from rising costs and deposit outflows.
Key Financial Metrics
Key Facts
- Q2 2026 net income from continuing operations fell to $697K from $1.03M YoY, a 32% decline.
- Net interest margin compressed to 4.20% from 4.65% in Q2 2025.
- Total non-interest expenses rose 15.73% YoY to $13.1M, driven by salary increases and severance costs.
- Total deposits declined $30.4M (3.62%) from year-end 2025 to $811M.
- Company repurchased $27.6M in common stock during H1 2026, reducing equity by 9.74%.
- Non-performing loans improved to 1.85% of total loans from 2.26% at year-end 2025.
- Efficiency ratio worsened to 92.62% from 86.68% in Q2 2025.
Financial Impact
Q2 2026 net income from continuing operations $697K vs $1.03M YoY; net interest margin down 45bps to 4.20%
Risk Factors
- Continued margin compression from rising funding costs and loan yield pressure
- Deposit outflows requiring increased FHLB borrowings (up 42% from year-end)
- High efficiency ratio (92.62%) leaves no operating leverage
- Aggressive share repurchases reducing capital base while earnings decline
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-321038 |
| Document: ck0002013639-20260728.htm | 0001193125-26-321038 |
| Document: 0001193125-26-321038-index-headers.html | 0001193125-26-321038 |
| Document: 0001193125-26-321038-index.html | 0001193125-26-321038 |
| Document: 0001193125-26-321038.txt | 0001193125-26-321038 |
| 8-K Data (Synthetic) | 0001193125-26-321038 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 3, 2026 12w ago | 8-K | $15.86 | awaiting T+60 | — | $16.95 (+6.87%) |
Jul 28, 2026 12w ago | 8-K | $15.54 $16.73 | ▼ −7.69% | ▼ −2.96% | $16.95 (−9.11%) |
Jun 12, 2026 19w ago | 8-K | $14.45 $15.88 | ▲ +9.90% | ▲ +8.89% | $16.95 (+17.30%) |
May 19, 2026 22w ago | 8-K | $13.97 $15.66 | ▲ +12.10% | ▲ +7.09% | $16.95 (+21.33%) |
May 6, 2026 24w ago | 8-K | $14.18 $15.54 | ▼ −9.59% | ▼ −5.76% | $16.95 (−19.53%) |
US Market Status
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