FB Bancorp to record $5.8M non-cash goodwill impairment on NOLA segment

FB Bancorp, Inc. /MD/

Entire goodwill balance of $5,786,000 impaired due to declining mortgage origination volume from elevated interest rates.
NOLA segment annual closed mortgage volume fell from $1.2B in 2020 to $0.4B in 2024.
Impairment does not affect cash flows, liquidity, tangible book equity, or regulatory capital ratios.
Goodwill originated from 2014 acquisition of NOLA Lending Group; segment continues operations.
Charge will materially impact Q4 2024 earnings (non-cash).

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