Condensed Parent Company Only Financial Information

12 Months Ended

Dec. 31, 2024

18.

Condensed Parent Company Only Financial Information

A condensed summary of FB Bancorp, Inc.’s financial information is shown below.

FB Bancorp, Inc.

Parent Only Condensed Statements of Financial Condition

December 31, 2024 and 2023


	December 31, 2024			December 31, 2023
	(Dollars in thousands)
ASSETS
Cash at Fidelity Bank	$	89,056		$	—
Total cash and cash equivalents		89,056			—

Investment in subsidiary bank		237,965			—

Total assets	$	327,021		$	—

LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities:
Taxes Payable		36			—
Other liabilities		730			—
Total liabilities		766			—

Stockholders' Equity:
Preferred stock, $0.01 par value - 5,000,000 shares authorized; none issued		—			—
Common stock, $0.01 par value - 120,000,000 shares authorized; 19,837,500 and -0- issued and outstanding at December 31, 2024 and 2023, respectively		198			—
Additional paid-in capital		193,571			—
Unearned ESOP shares - 1,523,520 shares		(17,215	)		—
Retained earnings		165,912			—
Accumulated other comprehensive income (loss)		(16,211	)		—
Total stockholders' equity		326,255			—

Total liabilities and stockholders' equity	$	327,021		$	—

FB Bancorp, Inc.

Parent Only Condensed Statements of Operations

Years Ended December 31, 2024 and 2023


	For the years ended December 31,
	2024			2023
	(Dollars in thousands)
Income
Interest income on ESOP loan	$	257		$	—
Total income		257			—

Non-interest expenses
Salaries and employee benefits		55			—
Directors’ fees		16			—
Other general and administrative		15			—
Total non-interest expenses		86			—

Income (loss) before income taxes		171			—
Income tax expense (benefit)		36			—

Net income (loss) before equity in undistributed net earnings (losses) of subsidiary		135			-
Equity in undistributed net earnings (losses) of bank subsidiary		(6,349	)		-
Net income (loss)	$	(6,214	)	$	-

FB Bancorp, Inc.

Parent Only Condensed Statements of Cash Flows

Years Ended December 31, 2024 and 2023


	For the years ended December 31,
	2024			2023
	(Dollars in thousands)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$	(6,214	)	$	—
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Equity in undistributed (income) loss from bank subsidiary		6,349			—
ESOP Expense		769
Changes in other operating assets and liabilities		767			—

Net cash provided by (used in) operating activities		1,671			—

CASH FLOWS FROM INVESTING ACTIVITIES:
Capital injection into subsidiary from stock offering		(88,400	)		—

Net cash provided by (used in) investing activities		(88,400	)		—

CASH FLOWS FROM FINANCING ACTIVITIES:
Net proceeds from issuance of common stock		187,850			—
Purchase of over subscribed common stock for ESOP		(12,065	)		—

Net cash provided by (used in) financing activities		175,785			—

NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		89,056			—
Cash and cash equivalents at beginning of period		—			—
Cash and cash equivalents at end of period	$	89,056		$	—