FB Bancorp posts FY 2024 net loss of $6.2M; Q4 loss $5.4M on $5.8M goodwill impairment

FB Bancorp, Inc. /MD/

2024-FY EPS reported -$1.74 revenue$66,465,000

Net loss of $6.2M for FY 2024 vs. net income of $1.1M in FY 2023; Q4 net loss $5.4M vs. $1.2M loss in Q4 2023.
Goodwill impairment of $5.8M in Q4 related to NOLA Lending Group; excluding it, Q4 net income would have been $425K.
Net interest income rose 5.18% to $46.5M for FY 2024; net interest margin fell to 4.36% from 4.72%.
Non-interest income down 19.72% to $20.0M due to lower mortgage servicing gains and sales.
Raised $198.4M in IPO in October 2024; total assets $1.22B; equity-to-assets 26.72% from 13.93%.

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