Whittier, California, – First Pacific Bancorp (the “Company”) (OTCID: FPBC), the holding company for First Pacific Bank (the “Bank”), today reported consolidated results for the second quarter ending June 30, 2026, demonstrating continued growth in loans and deposits that support the local communities we serve.
Key Financial Highlights:
- Total assets ended the second quarter of 2026 at $515 million, an increase of $25 million since December 31, 2025, and a $37 million increase from June 30, 2025.
- Total deposits ended the second quarter of 2026 at $420 million, up $14 million since year end 2025 and a $42 million increase from second quarter 2025.
- Total loans ended the second quarter of 2026 at $353 million, up $33 million from year end 2025 and a $41 million increase from second quarter 2025.
- Asset quality remains excellent with minimal levels of classified or non-performing assets.
- The Bank ended the second quarter with a strong capital position, with a leverage capital ratio of 9.24% and a total risk-based capital ratio of 12.61%.
- As of June 30, 2026, liquidity resources included cash and cash equivalents of $52 million and unused borrowing capacity from credit facilities of $164 million.
For the quarter ending June 30, 2026, the Company realized a pre-tax, pre-provision profit of $503 thousand, compared to a pre-tax, pre-provision profit of $634 thousand in Q2 2025. Net income for the second quarter of 2026 was $28 thousand, down from $454 thousand in Q2 2025. During Q2 2026, the bank recorded a $470 thousand provision for credit losses primarily associated with loan growth as well as management’s decision to charge off $371 thousand of a Truck Loan portfolio, which has been winding down since CalCAP was discontinued in 2023. The remaining Truck Loan portfolio was less than $4M at June 30, 2026.
Asset quality remains excellent with minimal non-performing assets, an allowance for credit losses of 0.92% of total loans at June 30, 2026, and minimal loan losses. The Company continues to emphasize conservative underwriting and active portfolio oversight.
“Our second quarter results reflect the strength of First Pacific Bank’s long-term strategy and the resilience of our relationship-driven business model,” said Joe Matranga, Chairman of the Board. “We generated meaningful loan and deposit growth while preserving the strong credit quality, capital, and liquidity that define our balance sheet. While quarterly earnings reflected a prudent provision to support loan growth and the ongoing wind-down of our legacy truck loan portfolio, these deliberate actions reinforce the strength of our risk management practices and position the Bank for continued success. We remain focused on executing our strategy, strengthening our balance sheet, and delivering sustainable long-term value for our shareholders.”
“The momentum we’ve built continues to be reflected in another quarter of strong loan and deposit growth, disciplined balance sheet management, and exceptional credit quality,” said Nathan Rogge, President and Chief Executive Officer. “Our focus remains on serving clients through relationship banking, investing in talented bankers, and expanding our presence in attractive Southern California markets where we see long-term opportunity. As we look ahead, we are well positioned to grow responsibly while continuing to enhance the products, services, and personalized experience that set First Pacific Bank apart.”
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.
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