---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-009847"
form_type: "8-K"
ticker: "AFBI"
cik: "0001823406"
company_name: "Affinity Bancshares, Inc."
filed_at: "2024-02-01T23:59:59+00:00"
generated_at: "2026-06-06T11:22:42.052569+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Affinity Bancshares Q4 net income $1.5M ($0.23 EPS), down from $1.7M ($0.26 EPS) YoY

## Summary
- Q4 2023 net income of $1.5 million, diluted EPS $0.23, vs $1.7 million ($0.26) in Q4 2022.
- Full year 2023 net income $6.4 million; adjusted diluted EPS $0.98, down from $1.02 in 2022.
- Net interest margin fell to 3.35% for 2023 (adjusted 4.00% in 2022); cost of funds 2.36% in Q4.
- Total assets $843.3M, loans $660.0M, deposits $674.4M; uninsured deposits 14.0% of total.
- Efficiency ratio worsened to 74.30% in Q4 from 71.38% a year ago.

## SEC filing metadata
- accession: 0000950170-24-009847
- form_type: 8-K
- ticker: AFBI
- cik: 0001823406
- company_name: Affinity Bancshares, Inc.
- filed_at: 2024-02-01T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1823406/000095017024009847/0000950170-24-009847-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1823406/000095017024009847/afbi-20240201.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-009847
- JSON: https://secwatch.observer/filing/0000950170-24-009847.json
- Plain text: https://secwatch.observer/filing/0000950170-24-009847.txt

## Key facts
- Earnings Releases
  Affinity Bancshares, Inc. reported the year ended December 31, 2023 results: net income $6,448, EPS $0.98.
  - Period: the year ended December 31, 2023
  - Net income: $6,448
  - EPS: $0.98
  - Result: reported results
  source text: growth in loans 2.6% growth in deposits As of 2023Q4 YE 2023 AFBI Selected Data COMPANY HIGHLIGHTS $26.7 million in NOO office loans 41.0% avg LTV on NOO office loans 36% DDA/Total Deposits $6.4 million in 2023 earnings 14.0% uninsured deposits approximately $0.98 Diluted Earnings per Share AFBI Selected Data Tangible Book Value Calculation Tangible Equity Shares Outstanding Tangible Book Value Ending balance December 31, 2022 $98,545 6,605 $14.92 Stock Activity including repurchase (2,106) Unearned stock comp change 208 AOCI Change 323 Effect of goodwill and other intangibles 192 Adoption of new accounting pronouncement (460) Net earnings before stock compensation 7,508 Stock Compensation, net of taxes (1,060) Ending balance December 31, 2023 $103,150 6,416 $16.08 (in thousands, including shares, except for tangible book value) * See Non-GAAP Reconciliation AFBI Selected Data NIM, NI,
  evidence_url: https://www.sec.gov/Archives/edgar/data/1823406/000095017024009847/0000950170-24-009847-index.htm
- Earnings Releases
  Affinity Bancshares, Inc. reported the three months ended December 31, 2023 results: net income $1.5 million, EPS 0.23.
  - Period: the three months ended December 31, 2023
  - Net income: $1.5 million
  - EPS: 0.23
  - Result: reported results
  source text: Affinity Bancshares, Inc. (NASDAQ:"AFBI") (the "Company"), February 1, 2024, the holding company for Affinity Bank (the "Bank"), today announced net income of $1.5 million for the three months ended December 31, 2023, as compared to $1.7 million for the three months ended December 31, 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1823406/000095017024009847/0000950170-24-009847-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.