<span item_type="fundamental" item_id="cdaca69cc0cf10c0903720280a8ded13" counter_id="ST/US/AFBI" env="prod"></span><span item_type="announcement" item_id="646206073829530625" env="prod"></span><p>Revenue: As of FY2026 Q1, the actual value is USD 12.9 M.</p><p>EPS: As of FY2026 Q1, the actual value is USD 0.36.</p><p>EBIT: As of FY2026 Q1, the actual value is USD -4.563 M.</p><p></p><h3>Financial Metrics and Operational Highlights</h3><h4>Total Assets</h4><p>Affinity Bancshares, Inc. reported an increase in total assets by $43.0 million, or 4.9%, to $924.7 million at March 31, 2026, compared to $881.7 million at December 31, 2025, primarily driven by increases in loans and cash and cash equivalents <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1823406/000119312526214749/afbi-20260331.htm"></span>.</p><h4>Loans</h4><p>Gross loans increased by $9.1 million, or 1.2%, reaching $751.8 million at March 31, 2026, from $742.7 million at December 31, 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1823406/000119312526214749/afbi-20260331.htm"></span>. Construction loans increased by $1.7 million, or 2.3%, to $74.3 million <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1823406/000119312526214749/afbi-20260331.htm"></span>. Commercial and industrial loans rose by $11.5 million, or 7.9% <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1823406/000119312526214749/afbi-20260331.htm"></span>. Consumer installment loans increased by $1.0 million, or 0.8% <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1823406/000119312526214749/afbi-20260331.htm"></span>. Owner-occupied commercial real estate loans decreased by - $1.9 million, or -1.2% <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1823406/000119312526214749/afbi-20260331.htm"></span>. Non-owner occupied commercial real estate residential mortgage loans decreased by - $1.1 million, or -2.4% <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1823406/000119312526214749/afbi-20260331.htm"></span>.</p><h4>Deposits</h4><p>Total deposits increased by $39.3 million, or 5.7%, to $734.3 million at March 31, 2026, from $695.0 million at December 31, 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1823406/000119312526214749/afbi-20260331.htm"></span>. Demand deposits increased by $22.7 million, or 10.5% <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1823406/000119312526214749/afbi-20260331.htm"></span>. Money market accounts increased by $12.6 million, or 8.0% <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1823406/000119312526214749/afbi-20260331.htm"></span>. Certificates of deposit included $70.3 million in brokered deposits at March 31, 2026, with an average rate of 4.38% and an average maturity of 17 months <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1823406/000119312526214749/afbi-20260331.htm"></span>.</p><h4>Key Ratios</h4><ul><li><strong>Loan-to-Deposit Ratio</strong>: 102.4% at March 31, 2026, down from 106.9% at December 31, 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1823406/000119312526214749/afbi-20260331.htm"></span>.</li><li><strong>Net Interest Rate Spread</strong>: Increased to 2.70% for the three months ended March 31, 2026, from 2.65% for the same period in 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1823406/000119312526214749/afbi-20260331.htm"></span>.</li><li><strong>Net Interest Margin</strong>: Decreased to 3.50% for the three months ended March 31, 2026, from 3.52% for the same period in 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1823406/000119312526214749/afbi-20260331.htm"></span>.</li></ul><h4>Net Income</h4><p>Net income for the three months ended March 31, 2026, was $2.3 million, an increase from $1.8 million for the three months ended March 31, 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1823406/000119312526214749/afbi-20260331.htm"></span>. This increase was attributed to higher net interest income, a lower provision for credit losses, and reduced noninterest expenses <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1823406/000119312526214749/afbi-20260331.htm"></span>.</p><h4>Interest Income</h4><p>Total interest income increased by $244,000, or 2.0%, to $12.3 million for the three months ended March 31, 2026, compared to $12.1 million for the same period in 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1823406/000119312526214749/afbi-20260331.htm"></span>. Interest income from loans increased by $490,000, or 4.6%, to $11.1 million, with the average yield on loans decreasing by one basis point to 6.04% <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1823406/000119312526214749/afbi-20260331.htm"></span>. The average balance of loans increased by $33.4 million, or 4.7%, to $747.2 million <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1823406/000119312526214749/afbi-20260331.htm"></span>. Interest income from interest-earning deposits and federal funds increased by $131,000 to $746,000, with average balances increasing by $26.1 million to $85.4 million, though yields decreased to 3.54% from 4.21% <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1823406/000119312526214749/afbi-20260331.htm"></span>.</p><h4>Interest Expense</h4><p>Total interest expense increased by $16,000 to $4.8 million for the three months ended March 31, 2026, compared to the same period in 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1823406/000119312526214749/afbi-20260331.htm"></span>. Interest expense on deposits increased by $36,000 to $4.3 million <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1823406/000119312526214749/afbi-20260331.htm"></span>. Interest expense on savings accounts increased by $175,000 to $730,000, as the average rate on savings accounts rose to 2.96% from 2.84%, and average balances increased by $20.7 million to $99.9 million <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1823406/000119312526214749/afbi-20260331.htm"></span>. Interest expense on borrowings decreased by $20,000 to $502,000 due to a decrease in average borrowings of $856,000 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1823406/000119312526214749/afbi-20260331.htm"></span>.</p><h4>Provision for Credit Losses</h4><p>Affinity Bancshares, Inc. recorded no provision for credit losses for loans for the three months ended March 31, 2026, compared to a $50,000 provision for the same period in 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1823406/000119312526214749/afbi-20260331.htm"></span>. The allowance for credit losses was $8.9 million at March 31, 2026, versus $9.0 million at December 31, 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1823406/000119312526214749/afbi-20260331.htm"></span>. The allowance for credit losses to total loans was 1.18% at March 31, 2026, compared to 1.21% at December 31, 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1823406/000119312526214749/afbi-20260331.htm"></span>. Net loan charge-offs were $105,000 for the three months ended March 31, 2026, compared to $89,000 for the same period in 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1823406/000119312526214749/afbi-20260331.htm"></span>. A -$100,000 recovery was recorded for unfunded commitments for the three months ended March 31, 2026, with no provision in the prior year <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1823406/000119312526214749/afbi-20260331.htm"></span>. The allowance for unfunded commitments was $544,000 at March 31, 2026 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1823406/000119312526214749/afbi-20260331.htm"></span>.</p><h4>Noninterest Income</h4><p>Noninterest income increased by $71,000, or 14.8%, to $552,000 for the three months ended March 31, 2026, from $481,000 for the same period in 2025, driven by increased merchant services volume, bank owned life insurance income, and loan-related fee income <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1823406/000119312526214749/afbi-20260331.htm"></span>.</p><h4>Noninterest Expenses</h4><p>Total noninterest expenses decreased by $144,000, or 2.7%, to $5.2 million for the three months ended March 31, 2026, from $5.4 million for the same period in 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1823406/000119312526214749/afbi-20260331.htm"></span>. Salaries and employee benefits decreased by - $341,000, or -10.2% <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1823406/000119312526214749/afbi-20260331.htm"></span>. Occupancy expenses decreased by - $61,000, or -10.1% <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1823406/000119312526214749/afbi-20260331.htm"></span>. Data processing expenses increased by $41,000, or 7.6% <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1823406/000119312526214749/afbi-20260331.htm"></span>. Other noninterest expenses increased by $217,000, or 25.4%, due to higher professional fees <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1823406/000119312526214749/afbi-20260331.htm"></span>.</p><h4>Income Tax Expense</h4><p>Income tax expense was $718,000 for the three months ended March 31, 2026, compared to $578,000 for the same period in 2025, with effective tax rates of 23.9% and 24.0%, respectively <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1823406/000119312526214749/afbi-20260331.htm"></span>.</p><h4>Stockholders’ Equity</h4><p>Stockholders’ equity increased by $2.4 million, or 1.9%, to $129.5 million at March 31, 2026, from $127.0 million at December 31, 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1823406/000119312526214749/afbi-20260331.htm"></span>. This was mainly due to $2.3 million in net income and $324,000 in ESOP-related and stock compensation expense, offset by a - $148,000 change in unrealized loss on available-for-sale investment securities, net of tax <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1823406/000119312526214749/afbi-20260331.htm"></span>.</p><h4>Cash Flows</h4><ul><li>Net cash provided by operating activities was $4.4 million for the three months ended March 31, 2026, compared to $1.9 million for the same period in 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1823406/000119312526214749/afbi-20260331.htm"></span>.</li><li>Net cash used in investing activities was - $8.2 million for the three months ended March 31, 2026, compared to - $10.7 million for the same period in 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1823406/000119312526214749/afbi-20260331.htm"></span>.</li><li>Net cash provided by financing activities was $39.3 million for the three months ended March 31, 2026, primarily from a $39.2 million increase in deposit accounts <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1823406/000119312526214749/afbi-20260331.htm"></span>.</li></ul><h4>Outlook/Guidance</h4><p>Affinity Bancshares, Inc. entered into a Merger Agreement on March 30, 2026, to merge with Fidelity BancShares (N.C.), Inc. and its subsidiary, The Fidelity Bank <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1823406/000119312526214749/afbi-20260331.htm"></span>. The transaction is expected to close in the third quarter of 2026, pending regulatory and stockholder approvals <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1823406/000119312526214749/afbi-20260331.htm"></span>. Each share of Affinity Bancshares, Inc. common stock will be converted into the right to receive $23.00 in cash, subject to adjustment <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1823406/000119312526214749/afbi-20260331.htm"></span>.</p>

Affinity Bancshares | 10-Q: FY2026 Q1 Revenue: USD 12.9 M