FSEA earnings analysis
What we found in FSEA's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
First Seacoast Bancorp (FSEA) reported a net loss of $508,000 for Q1 2026, an improvement from a loss of $603,000 in Q1 2025. Revenues remained flat at $7 million, but the company reported improved net interest margins and a release of credit losses, demonstrating operational stability despite a challenging environment.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Net Loss Decreases Year-over-Year
- Net loss improved to $508,000 in Q1 2026 from $603,000 in Q1 2025, a reduction of 15.8%.
- Interest Income Stability
- Total interest and dividend income increased slightly by $35,000, or 0.5%, to $6.5 million compared to Q1 2025.
- Improved Net Interest Margin
- Annualized net interest margin increased to 2.45% from 2.23% in Q1 2025.
- Decrease in Non-Interest Expense
- Non-interest expense increased only marginally by $7,000, keeping operational costs stable.
- Core Deposits Increased
- Core deposits rose by $10.3 million, or 3.2%, to $329.1 million compared to December 31, 2025.
- Non-Interest Income Surges
- Non-interest income grew by $61,000, or 17.4%, reaching $412,000 in Q1 2026.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Decline in Deposits
- Total deposits decreased by $11.8 million to $459 million compared to December 31, 2025.
- Increased Income Tax Expense
- Income tax expense soared to $273,000 from a benefit of $(29,000) in Q1 2025.
- Non-Performing Loans Remain
- Non-performing loans were $412,000, slightly down from $478,000 at December 31, 2025, indicating persistent credit risk.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-0.05
What they said about what is next.
Outlook deferred to earnings press release / call.
The filing reads about the same as the one before it.
What came before.
- 10-K · April 30, 2026
- First Seacoast Bancorp is striving to enhance its position in the regional banking market by increasing its focus on higher-yield commercial real estate and commercial & industrial loans. While revenue has been stable…
- 10-K · March 20, 2026
- First Seacoast Bancorp (First Seacoast Bank) is a small regional bank focused on one- to four-family residential mortgages while shifting toward higher-yield commercial real estate and commercial & industrial lending to…
- 10-Q · November 14, 2025
- First Seacoast reported operating revenue of $3,991,000 and returned to quarterly net income of $390,000 (diluted EPS $0.08) for Q3 2025, with income before tax narrowing to a loss of $206,000. Balance sheet liquidity…
- 10-Q · May 9, 2025
- First Seacoast reported improvement in operating results for the quarter ended March 31, 2025: net interest and dividend income rose to $3,179,000 and non-interest income increased to $351,000, producing total operating…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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