First Pacific Bancorp Reports Strong Third Quarter 2026 Results

WHITTIER, Calif., Oct. 22, 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 third quarter ended September 30, 2026, reflecting continued balance sheet growth, strong asset quality, and a solid capital and liquidity position.

Key Financial Highlights:

• Total assets ended the third quarter of 2026 at $532 million, an increase of $42 million since December 31, 2025, and a $46 million increase from September 30, 2025.  
• Total deposits ended the third quarter of 2026 at $449 million, up $43 million since year end 2025 and a $60 million increase from the third quarter 2025.
• Total loans ended the third quarter of 2026 at $362 million, up $42 million from both year end 2025 and the third quarter 2025.
• Asset quality remains excellent with minimal levels of classified or non-performing assets.
• The Bank ended the third quarter with a strong capital position, with a leverage capital ratio of 9.18% and a total risk-based capital ratio of 12.59%.
• As of September 30, 2026, liquidity resources included cash and cash equivalents of $61 million and unused borrowing capacity from credit facilities of $157 million.

For the quarter ended September 30, 2026, the Company realized a pre-tax, pre-provision profit of $673,000, compared to a pre-tax, pre-provision profit of $853,000 in the third quarter 2025. Net income for the third quarter of 2026 was $478,000, down from $607,000 in the third quarter 2025. For the nine months ended September 30, 2026, the Company reported pre-tax, pre-provision profit of $1.8 million and net income of $959,000.

Asset quality remains excellent with minimal non-performing assets, an allowance for credit losses of 0.89% of total loans at September 30, 2026, and minimal loan losses. The Company continues to emphasize conservative underwriting and active portfolio oversight.

“First Pacific Bank’s performance reflects disciplined execution, sound financial management, and an ongoing commitment to creating long-term shareholder value,” said Joe Matranga, Chairman of the Board. “Our strong asset quality, capital position, and liquidity provide a solid foundation for navigating changing market conditions and pursuing strategic opportunities that support sustainable growth.”

“The Bank’s financial results demonstrate the strength of our business model and the value of our relationship-driven approach,” said Nathan Rogge, President and Chief Executive Officer. “We remain focused on serving businesses with the expertise, responsiveness, and personalized service they expect from a community bank. Our upcoming expansion into Palm Desert builds on our established experience in the region and reflects our confidence in Coachella Valley’s business community and the opportunities it presents.”

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 Contact	Media Relations Contact
Jerro Otsuki	Amanda Conover
714.352.7476	858.461.7308
jotsuki@firstpacbank.com	aconover@firstpacbank.com

--- Summary Financial Tables Follow ---

CONSOLIDATED BANCORP
First Pacific Bancorp
Consolidated Balance Sheets
(Unaudited)
	Sep 30, 2026			Jun 30, 2026			Mar 31, 2026			Dec 31, 2025			Sep 30, 2025
ASSETS
Cash and due from banks	$	8,847,646		$	7,465,348		$	7,145,738		$	13,335,659		$	4,361,215
Fed funds sold		52,415,000			44,080,000			40,765,000			43,805,000			47,580,000
Total cash and cash equivalents		61,262,646			51,545,348			47,910,738			57,140,659			51,941,215
Debt securities (AFS)		1,422,906			1,530,233			1,600,663			1,692,800			1,756,875
Debt securities (HTM)		92,866,892			94,057,989			95,162,219			96,088,528			96,991,887
Total debt securities		94,289,798			95,588,222			96,762,882			97,781,328			98,748,762
Construction & land development		29,372,632			31,729,264			28,526,915			29,510,901			27,728,045
1-4 Family residential		94,806,929			86,647,515			78,681,754			73,481,444			71,298,162
Multifamily residential		32,154,406			36,208,516			35,741,832			31,117,740			30,456,673
Other commercial real estate		129,528,521			124,427,953			119,250,067			115,196,071			116,977,598
Commercial & industrial		71,000,954			68,258,860			63,922,914			66,023,866			68,930,751
Consumer & Other		4,641,279			5,614,397			4,902,852			4,538,637			4,555,112
Total loans		361,504,721			352,886,505			331,026,334			319,868,659			319,946,341
Allowance for credit losses (loans)		(3,200,925	)		(3,228,938	)		(3,099,953	)		(3,122,503	)		(3,141,203	)
Total loans, net		358,303,796			349,657,567			327,926,381			316,746,156			316,805,138
Premises, equipment, and ROU net		2,651,011			2,819,645			3,015,551			3,171,482			3,277,724
Goodwill, core deposit & other intangibles		1,191,836			1,172,559			1,184,253			1,195,948			1,200,762
Bank owned life insurance		5,505,976			5,473,563			5,441,454			5,410,102			5,378,503
Accrued interest and other assets		8,440,202			8,476,931			8,071,091			8,170,560			8,585,760
Total Assets	$	531,645,265		$	514,733,835		$	490,312,350		$	489,616,235		$	485,937,864
LIABILITIES AND SHAREHOLDERS' EQUITY
Deposits:
Noninterest-bearing demand	$	169,037,177		$	145,337,752		$	148,975,933		$	160,085,795		$	134,783,120
Interest-bearing transaction accounts		23,877,309			25,333,189			26,391,254			34,875,562			26,611,844
Money market and savings		208,283,667			208,473,503			188,243,994			174,359,420			186,610,551
Time deposits		47,963,056			40,814,658			46,027,527			36,675,567			41,519,108
Total deposits		449,161,209			419,959,102			409,638,708			405,996,344			389,524,623
Borrowings		34,171,584			47,221,062			33,269,423			36,286,906			50,000,000
Accrued interest and other liabilities		4,964,225			4,800,394			4,867,802			5,376,494			5,211,202
Total liabilities		488,297,018			471,980,558			447,775,933			447,659,744			444,735,825
Shareholders' Equity:
Capital stock and APIC		38,272,515			38,154,923			37,988,844			37,871,816			37,701,986
Retained earnings		5,620,986			5,142,824			5,114,724			4,662,166			4,104,143
Accum other comprehensive income		(545,254	)		(544,470	)		(567,151	)		(577,491	)		(604,090	)
Total shareholders' equity		43,348,247			42,753,277			42,536,417			41,956,491			41,202,039
Total Liabilities and Shareholders' Equity	$	531,645,265		$	514,733,835		$	490,312,350		$	489,616,235		$	485,937,864

First Pacific Bancorp
Consolidated Income Statements - Quarterly
(Unaudited)
	Sep 30, 2026		Jun 30, 2026		Mar 31, 2026		Dec 31, 2025		Sep 30, 2025
INTEREST INCOME
Loans, including fees	$	5,967,671	$	5,675,916	$	5,234,634	$	5,380,149	$	5,478,759
Debt securities		443,385		456,167		461,373		464,580		456,576
Fed funds & int-bearing balances		437,414		315,882		436,775		348,027		333,642
Total interest income		6,848,470		6,447,965		6,132,782		6,192,756		6,268,977
INTEREST EXPENSE
Deposits		2,000,310		1,800,915		1,741,409		1,907,127		1,766,021
Borrowings		327,486		354,089		214,829		218,288		393,330
Total interest expense		2,327,796		2,155,004		1,956,238		2,125,415		2,159,351
Net interest income		4,520,674		4,292,961		4,176,544		4,067,341		4,109,626
Provision for credit losses		-		470,000		-		-		-
Net interest income after provision		4,520,674		3,822,961		4,176,544		4,067,341		4,109,626
NONINTEREST INCOME
Service charges, fees and other income		139,455		144,568		128,933		221,064		114,633
Gains (losses) on sale of assets		117,897		-		-		27,681		29,966
Total noninterest income		257,352		144,568		128,933		248,745		144,599
NONINTEREST EXPENSE
Salaries and benefits		2,624,684		2,553,187		2,322,729		2,120,441		2,114,900
Occupancy and equipment		270,638		286,315		279,474		238,252		279,715
Other expense		1,209,767		1,095,007		1,068,946		1,242,133		1,006,318
Total noninterest expense		4,105,089		3,934,509		3,671,149		3,600,826		3,400,933
Income before income tax expense		672,937		33,020		634,328		715,260		853,292
Income tax expense		194,776		4,919		181,771		157,238		246,232
Net Income	$	478,161	$	28,101	$	452,557	$	558,022	$	607,060
Earnings per share basic (QTR)	$	0.11	$	0.01	$	0.10	$	0.13	$	0.14
Weighted average shares outstanding (QTR)		4,394,748		4,385,156		4,383,452		4,346,140		4,341,356

First Pacific Bancorp
Consolidated Income Statements - Year-to-Date
(Unaudited)
	Sep 30, 2026			Sep 30, 2025
INTEREST INCOME
Loans, including fees	$	16,878,221		$	15,323,400
Investment securities		1,360,925			1,383,380
Fed funds & int-bearing balances		1,190,071			1,086,993
Total interest income		19,429,217			17,793,773
INTEREST EXPENSE
Deposits		5,542,634			5,475,805
Borrowings		896,404			740,521
Total interest expense		6,439,038			6,216,326
Net interest income		12,990,179			11,577,447
Provision for credit losses		470,000			-
Net interest income after provision		12,520,179			11,577,447
NONINTEREST INCOME
Service charges, fees and other income		412,956			324,302
Gains (losses) on sale of assets		117,897			29,966
Total noninterest income		530,853			399,490
NON INTEREST EXPENSE
Salaries and benefits		7,500,600			6,462,029
Occupancy and equipment		836,427			816,302
Other expense		3,373,720			2,661,416
Total noninterest expense		11,710,747			9,939,747
Income before income tax expense		1,340,285			2,037,190
Income tax expense		381,466			583,924
Net Income	$	958,819		$	1,453,266
Earnings per share basic (YTD)	$	0.22		$	0.34
Weighted average shares outstanding (YTD)		4,387,827			4,336,901

First Pacific Bancorp
Quarterly Financial Highlights
(Unaudited)
		Quarterly
			2026			2026			2026			2025			2025
($$ in thousands except per share data)		3rd Qtr			2nd Qtr			1st Qtr			4th Qtr			3rd Qtr
EARNINGS
Net interest income	$		4,521			4,293			4,177			4,067			4,110
Provision for loan losses	$		0			470			0			0			0
Noninterest income	$		257			145			129			249			145
Noninterest expense	$		4,105			3,935			3,671			3,601			3,401
Income tax expense	$		195			5			182			157			246
Net income	$		478			28			453			558			607
Earnings per share basic	$		0.11			0.01			0.10			0.13			0.14
Weighted average shares outstanding			4,394,748			4,385,156			4,383,452			4,346,140			4,341,356
Ending shares outstanding			4,395,151			4,385,305			4,384,716			4,346,810			4,344,241
PERFORMANCE RATIOS
Return on average assets			0.38	%		0.02	%		0.39	%		0.48	%		0.52	%
Return on average common equity			4.42	%		0.26	%		4.35	%		5.33	%		5.92	%
Yield on loans			6.72	%		6.62	%		6.66	%		6.74	%		6.88	%
Yield on earning assets			5.56	%		5.48	%		5.50	%		5.50	%		5.61	%
Cost of deposits			1.86	%		1.77	%		1.75	%		1.91	%		1.85	%
Cost of funding			2.02	%		1.96	%		1.88	%		2.02	%		2.07	%
Net interest margin			3.67	%		3.65	%		3.74	%		3.61	%		3.68	%
Efficiency ratio			85.9	%		88.7	%		85.3	%		83.4	%		79.9	%
CAPITAL
Tangible equity to tangible assets			7.95	%		8.10	%		8.45	%		8.35	%		8.25	%
Book value (BV) per common share	$		9.86			9.75			9.70			9.65			9.48
Tangible BV per common share	$		9.59			9.48			9.43			9.38			9.21
ASSET QUALITY
Net loan charge-offs (recoveries)	$		28			371			23			0			0
Allowance for credit losses (loans)	$		3,201			3,229			3,100			3,123			3,141
Allowance to total loans			0.89	%		0.92	%		0.94	%		0.98	%		0.98	%
Nonperforming loans	$		1,034			1,087			1,541			1,200			858
END OF PERIOD BALANCES
Total loans	$		361,505			352,887			331,026			319,869			319,946
Total assets	$		531,645			514,734			490,312			489,616			485,938
Deposits	$		449,161			419,959			409,639			405,996			389,525
Loans to deposits			80.5	%		84.0	%		80.8	%		78.8	%		82.1	%
Shareholders' equity	$		43,348			42,753			42,536			41,956			41,202
Full-time equivalent employees			57			57			49			48			46
AVERAGE BALANCES (QTRLY)
Total loans	$		352,322			343,841			318,801			316,836			315,976
Earning assets	$		488,502			471,712			452,508			446,590			443,150
Total assets	$		504,404			488,199			469,493			464,251			459,678
Deposits	$		426,948			407,196			403,573			396,716			378,916
Shareholders' equity	$		42,962			42,742			42,178			41,498			40,681