First Pacific Bancorp Reports Fourth Quarter and Year End 2025 Results, Highlighting Growth and Capital Strength | FPBC Stock News

WHITTIER, Calif., Feb. 03, 2026 (GLOBE NEWSWIRE) -- First Pacific Bancorp (the “Company”) (OTCID: FPBC), the holding company for First Pacific Bank (the “Bank”), today reported consolidated results for the fourth quarter and year ending December 31, 2025, reflecting continued balance sheet growth, improved profitability, stable asset quality, and a strengthened capital position to support future operations. During the fourth quarter, the Company also closed $7 million in senior debt financing through a correspondent line to enhance liquidity and balance sheet flexibility. Of this amount, $3.3 million was contributed to the Bank to strengthen regulatory capital ratios, with the remaining capacity available to support future growth initiatives. Key Financial Highlights: Total assets ended the fourth quarter of 2025 at $490 million, up $57 million since year end 2024.Total deposits ended the fourth quarter of 2025 at $406 million, up $55 million since year end 2024.Total loans ended the fourth quarter of 2025 at $320 million, up $42 million from year end 2024.Asset quality remains excellent with minimal levels of classified or non-performing assets.The Bank ended the fourth quarter with a leverage capital ratio of 9.53% and a total risk-based capital ratio of 13.39%, which ratios were up from the prior quarter’s ratios of 8.74% and 12.16%, respectively.As of December 31, 2025, cash and cash equivalents totaled $57 million.Unused borrowing capacity from credit facilities on December 31, 2025, totaled $179 million. For the fourth quarter ending December 31, 2025, the Company realized a pre-tax, pre-provision profit of $715 thousand, compared to $702 thousand in Q4 2024. Net income for the fourth quarter of 2025 was $558 thousand, up from $500 thousand in Q4 2024. For the twelve months ending December 31, 2025, the Company reported pre-tax, pre-provision profit of $2.75 million and net income of $2.01 million compared to $1.54 million and $1.11 million, respectively, for the twelve months ending December 31, 2024. These results reflect continued progress in operating performance and disciplined expense and risk management. Asset quality remains excellent with minimal non-performing assets, an allowance for credit losses of 0.98% of total loans at December 31, 2025, and zero loan losses during the year. The Company continues to emphasize conservative underwriting and active portfolio oversight. “Our 2025 results reflect continued progress in strengthening our balance sheet and improving operating performance,” said Joe Matranga, Chairman of the Board. “We continue to grow responsibly while maintaining strong credit quality and delivering long-term value to our shareholders.” “With a focus on Southern California, our relationship-based model and in-market expertise continue to attract business clients who value personalized, high-touch service,” said Nathan Rogge, President and Chief Executive Officer. “With a strong liquidity position, expanding capital base, and a scalable operating platform, we are focused on driving sustained profitability, enhancing shareholder value, and building a community bank positioned for long-term success.” ABOUT FIRST PACIFIC BANK First Pacific Bank is a wholly owned subsidiary of First Pacific Bancorp (OTCID: FPBC) and is a growing community bank catering to individuals, professionals, and small-to-medium sized businesses throughout Southern California. Since opening in 2006, the Bank has offered a personalized approach, access to decision makers, a broad range of solutions, and a commitment to delivering an exceptional customer experience. First Pacific Bank operates locations in Los Angeles County, Orange County, San Diego County, and the Inland Empire. For more information, visit firstpacbank.com or call 888.BNK.AT.FPB. FORWARD-LOOKING STATEMENTS This news release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act of 1934, as amended, and First Pacific Bancorp intends for such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Future events are difficult to predict, and the expectations described above are necessarily subject to risk and uncertainty that may cause actual results to differ materially and adversely. Forward-looking statements relate to, among other things, our business plan, and strategies, and can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” or words of similar meaning, or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may” and similar expressions. These forward-looking statements are not guarantees of future performance, nor should they be relied upon as representing management’s views as of any subsequent date. Factors that might cause such differences include, but are not limited to: successfully realizing the benefits of our business strategy and plans,; changes in general economic and financial market conditions, either nationally or locally, in areas in which First Pacific Bank conducts its operations; effects of inflation and changes in interest rates; continuing consolidation in the financial services industry; new litigation or changes in existing litigation; increased competitive challenges and expanding product and pricing pressures among financial institutions; impact of any natural disasters, including earthquakes; effect of governmental supervision and regulation, including any regulatory or other enforcement actions; legislation or regulatory changes which adversely affect First Pacific Bank’s operations or business; loss of key personnel; and changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board or other regulatory agencies. The Company does not undertake, and specifically disclaims any obligation to update any forward-looking statements to reflect occurrences or unanticipated events, or circumstances after the date of such statements except as required by law. Contacts Investor Relations ContactMedia Relations ContactJim BurgessAmanda Conover858.461.7302858.461.7308jburgess@firstpacbank.comaconover@firstpacbank.com --- Summary Financial Tables Follow --- First PacificBancorp Consolidated Balance Sheets (Unaudited) Dec 31, 2025Sep 30, 2025Jun 30, 2025Mar 31, 2025Dec 31, 2024ASSETS Cash and due from banks$13,335,659 $4,361,215 $8,336,307 $8,042,164 $4,708,926 Federal funds sold 43,805,000 47,580,000 43,670,000 39,250,000 36,290,000 Total cash and cash equivalents 57,140,659 51,941,215 52,006,307 47,292,164 40,998,926 Debt securities (AFS) 1,692,800 1,756,875 1,791,113 1,859,740 1,866,022 Debt securities (HTM) 96,088,528 96,991,887 98,052,199 99,099,346 100,257,560 Total debt securities 97,781,328 98,748,762 99,843,312 100,959,086 102,123,582 Construction & land development 29,510,901 27,728,045 26,181,088 25,245,823 23,320,351 1-4 Family residential 73,481,444 71,298,162 68,065,742 63,536,698 58,588,090 Multifamily residential 31,117,740 30,456,673 30,570,654 30,452,183 28,561,276 Nonfarm, nonresidential real estate 115,196,071 116,977,598 120,672,305 105,299,777 100,066,570 Commercial & industrial 66,023,866 68,930,751 62,021,304 64,956,570 62,322,690 Consumer & Other 4,538,637 4,555,112 4,378,029 4,572,607 4,525,108 Total loans 319,868,659 319,946,341 311,889,122 294,063,658 277,384,085 Allowance for credit losses (loans) (3,122,503) (3,141,203) (3,179,637) (3,179,637) (3,179,637)Total loans, net 316,746,156 316,805,138 308,709,485 290,884,021 274,204,448 Premises, equipment, and ROU net 3,171,482 3,277,724 2,918,754 2,822,403 1,328,964 Goodwill, core deposit & other intangibles 1,195,948 1,200,762 1,202,582 1,259,139 1,273,134 Bank owned life insurance 5,410,102 5,378,503 5,347,738 5,317,491 5,287,738 Accrued interest and other assets 8,170,560 8,585,760 7,650,569 7,703,693 7,755,355 Total Assets$489,616,235 $485,937,864 $477,678,747 $456,237,997 $432,972,147 LIABILITIES AND SHAREHOLDERS' EQUITY Deposits: Noninterest-bearing demand$160,085,795 $134,783,120 $138,110,569 $143,205,484 $131,515,568 Interest-bearing transaction accounts 34,875,562 26,611,844 24,968,600 39,203,360 28,454,639 Money market and savings 174,359,420 186,610,551 178,569,935 162,563,677 146,423,126 Time deposits 36,675,567 41,519,108 35,936,500 44,568,676 44,302,867 Total deposits 405,996,344 389,524,623 377,585,604 389,541,197 350,696,200 Borrowings 36,286,906 50,000,000 55,000,000 23,000,000 40,000,000 Accrued interest and other liabilities 5,376,494 5,211,202 4,705,376 3,952,095 3,122,902 Total liabilities 447,659,744 444,735,825 437,290,980 416,493,292 393,819,102 Shareholders' Equity: Capital stock and APIC 37,871,816 37,701,986 37,552,889 37,389,068 37,272,567 Retained earnings 4,662,166 4,104,143 3,497,084 3,043,502 2,650,877 Accum other comprehensive income (577,491) (604,090) (662,206) (687,865) (770,399)Total shareholders' equity 41,956,491 41,202,039 40,387,767 39,744,705 39,153,045 Total Liabilities and Shareholders' Equity$489,616,235 $485,937,864 $477,678,747 $456,237,997 $432,972,147 First PacificBancorp Consolidated Income Statements - Quarterly (Unaudited) Dec 31, 2025Sep 30, 2025Jun 30, 2025Mar 31, 2025Dec 31, 2024INTEREST INCOME Loans, including fees$5,380,149$5,478,759$5,056,534$4,788,107$4,814,128Debt securities 464,580 456,576 464,333 462,472 484,507Fed funds & int-bearing balances 348,027 333,642 413,487 339,864 419,597Total interest income 6,192,756 6,268,977 5,934,354 5,590,443 5,718,232 INTEREST EXPENSE Deposits 1,907,127 1,766,021 1,897,025 1,812,760 1,777,350Borrowings 218,288 393,330 127,359 219,832 332,375Total interest expense 2,125,415 2,159,351 2,024,384 2,032,592 2,109,725 Net interest income 4,067,341 4,109,626 3,909,970 3,557,851 3,608,507 Provision for credit losses - - - - - Net interest income after provision 4,067,341 4,109,626 3,909,970 3,557,851 3,608,507 NONINTEREST INCOME Service charges, fees and other income 221,064 114,633 87,059 122,610 119,170Sublease income - - - 45,222 -Gains (losses) on sale of assets 27,681 29,966 - - -Gains on early payoff of debt - - - - 54,125Total noninterest income 248,745 144,599 87,059 167,832 173,295 NONINTEREST EXPENSE Salaries and benefits 2,120,441 2,114,900 2,227,827 2,119,302 1,984,774Occupancy and equipment 238,252 279,715 277,107 259,480 258,181Other expense 1,242,133 1,006,318 857,837 797,261 836,691Total noninterest expense 3,600,826 3,400,933 3,362,771 3,176,043 3,079,646 Income before income tax expense 715,260 853,292 634,258 549,640 702,156 Income tax expense 157,238 246,232 180,677 157,015 202,586 Net Income$558,022$607,060$453,581$392,625$499,570 Earnings per share basic (QTR)$0.13$0.14$0.10$0.09$0.12Weighted average shares outstanding (QTR) 4,346,140 4,341,356 4,335,529 4,333,735 4,293,829 First Pacific Bancorp Consolidated Income Statements - Year-to-Date (Unaudited) Dec 31, 2025Dec 31, 2024 INTEREST INCOME Loans, including fees$20,703,549$18,987,681 Investment securities 1,847,959 2,042,246 Fed funds & int-bearing balances 1,435,021 1,853,470 Total interest income 23,986,529 22,883,397 INTEREST EXPENSE Deposits 7,382,932 7,001,082 Borrowings 958,809 1,808,614 Total interest expense 8,341,741 8,809,696 Net interest income 15,644,788 14,073,701 Provision for credit losses - - Net interest income after provision 15,644,788 14,073,701 NONINTEREST INCOME Service charges, fees and other income 545,366 430,626 Sublease income 45,222 160,817 Gains (losses) on sale of assets 57,647 15,335 Gains on early payoff of debt - 198,450 Total noninterest income 648,235 805,228 NON INTEREST EXPENSE Salaries and benefits 8,582,470 8,500,224 Occupancy and equipment 1,054,554 1,364,760 Other expense 3,903,549 3,472,378 Total noninterest expense 13,540,573 13,337,362 Income before income tax expense 2,752,450 1,541,567 Income tax expense 741,162 433,954 Net Income$2,011,288$1,107,613 Earnings per share basic (YTD)$0.46$0.26 Weighted average shares outstanding (YTD) 4,339,934 4,286,945 First PacificBancorp Quarterly Financial Highlights (Unaudited) Quarterly 2025 2025 2025 2025 2024 ($$ in thousands except per share data) 4th Qtr3rd Qtr2nd Qtr1st Qtr4th QtrEARNINGS Net interest income$4,067 4,110 3,910 3,558 3,609 Provision for loan losses$0 0 0 0 0 Noninterest income$249 145 87 168 173 Noninterest expense$3,601 3,401 3,363 3,176 3,080 Income tax expense$157 246 181 157 203 Net income$558 607 454 393 500 Earnings per share basic$0.13 0.14 0.10 0.09 0.12 Weighted average shares outstanding 4,346,140 4,341,356 4,335,529 4,333,735 4,293,829 Ending shares outstanding 4,346,810 4,344,241 4,335,678 4,335,088 4,294,500 PERFORMANCE RATIOS Return on average assets 0.48% 0.52% 0.41% 0.37% 0.47% Return on average common equity 5.33% 5.92% 4.55% 4.05% 5.12% Yield on loans 6.74% 6.88% 6.85% 6.79% 6.91% Yield on earning assets 5.50% 5.61% 5.53% 5.44% 5.50% Cost of deposits 1.91% 1.85% 1.95% 2.00% 1.98% Cost of funding 2.02% 2.07% 2.02% 2.12% 2.18% Net interest margin 3.61% 3.68% 3.65% 3.46% 3.47% Efficiency ratio 83.4% 79.9% 84.1% 85.2% 81.4% CAPITAL Tangible equity to tangible assets 8.35% 8.25% 8.22% 8.46% 8.77% Book value (BV) per common share$9.65 9.48 9.32 9.17 9.12 Tangible BV per common share$9.38 9.21 9.04 8.88 8.82 ASSET QUALITY Net loan charge-offs (recoveries)$0 0 0 0 0 Allowance for credit losses (loans)$3,123 3,141 3,180 3,180 3,180 Allowance to total loans 0.98% 0.98% 1.02% 1.08% 1.15% Nonperforming loans$1,200 858 1,015 849 672 END OF PERIOD BALANCES Total loans$319,869 319,946 311,889 294,064 277,384 Total assets$489,616 485,938 477,679 456,238 432,972 Deposits$405,996 389,525 377,586 389,541 350,696 Loans to deposits 78.8% 82.1% 82.6% 75.5% 79.1% Shareholders' equity$41,956 41,202 40,388 39,745 39,153 Full-time equivalent employees 48 46 47 46 49 AVERAGE BALANCES (QTRLY) Total loans$316,836 315,976 295,970 286,119 276,301 Earning assets$446,590 443,150 430,237 416,486 412,424 Total assets$464,251 459,678 445,557 430,891 425,750 Deposits$396,716 378,916 389,840 368,363 355,369 Shareholders' equity$41,498 40,681 39,963 39,326 38,746