10-Q
Quarterly Report
Affinity Bancshares, Inc.
AFBI
NASDAQ
CIK: 1823406
File #: 001-39914
Balance Sheet
109 line items · 2 periods
XBRL
| Item | Sep 30, 2025 | Dec 31, 2024 |
|---|---|---|
Assets | ||
Cash and due from banks | 6,092,000 | 7,092,000 |
Interest-earning deposits in other depository institutions | 78,753,000 | 34,333,000 |
Cash and cash equivalents | 84,845,000 | 41,425,000 |
Investment securities available-for-sale | 44,668,000 | 36,502,000 |
Municipal Securities - Taxable | 1,764,000 | 1,671,000 |
Collateral Pledged | 5,900,000 | 9,600,000 |
U.S. Treasury Strip Bonds | 4,816,000 | 4,567,000 |
Municipal Securities - Tax Exempt | 436,000 | 433,000 |
Corporate Securities | 12,857,000 | 9,006,000 |
Level 2 - Fair Value, Measurements, Recurring | 44,700,000 | 36,500,000 |
Debt Securities excluding Mortgage Backed Securities | 28,779,000 | — |
Level 2 - Estimated Fair Value | 44,668,000 | 36,502,000 |
Level 2 - Carrying Amount | 44,668,000 | 36,502,000 |
Government Agency Mortgage-Backed Securities | 15,889,000 | 12,344,000 |
U.S. Government Sponsored Enterprises | 8,906,000 | 8,481,000 |
Investment securities held-to-maturity (estimated fair value of $19,692 net of allowance for credit losses of $29 at September 30, 2025 and estimated fair value of $27,286 net of allowance for credit losses of $45 at December 31, 2024) | 19,225,000 | 27,299,000 |
Other investments | 6,254,000 | 6,175,000 |
Loans | 729,539,000 | 714,115,000 |
Commercial (Secured by Real Estate - Owner Occupied) - Pass | 161,706,000 | 154,626,000 |
Pass | 723,247,000 | 707,787,000 |
Consumer Installment | 132,541,000 | 120,616,000 |
Residential Mortgage - Special Mention | 115,000 | 212,000 |
Construction, Land and Acquisition & Development - Substandard | 15,000 | 17,000 |
Consumer Installment - Total Past Due | 97,000 | 602,000 |
Commercial and Industrial - Pass | 145,638,000 | 148,150,000 |
Special Mention | 1,069,000 | 1,265,000 |
Commercial (Secured by Real Estate - Non-owner Occupied) | 164,015,000 | 166,662,000 |
Commercial and Industrial | 146,212,000 | 148,150,000 |
60- 89 Days Past Due | — | 493,000 |
Consumer Installment - 30 -59 Days Past Due | 97,000 | 526,000 |
Commercial (Secured by Real Estate - Owner Occupied) - Substandard | 1,814,000 | 1,996,000 |
Current Period Gross Charge Offs | 220,000 | 741,000 |
Total Past Due | 221,000 | 2,507,000 |
Commercial (Secured by Real Estate - Non-owner Occupied) - Special Mention | 526,000 | 534,000 |
Commercial (Secured by Real Estate - Non-owner Occupied) - Current | 163,882,000 | 166,510,000 |
Consumer Installment - Substandard | 300,000 | 300,000 |
Residential Mortgage - Current | 46,141,000 | 50,615,000 |
Commercial (Secured by Real Estate - Owner Occupied) - 60- 89 Days Past Due | — | 320,000 |
Residential Mortgage | 48,512,000 | 54,142,000 |
Residential Mortgage - Current Period Gross Write-offs | — | 50,000 |
Commercial (Secured by Real Estate - Owner Occupied) - 30 -59 Days Past Due | — | 370,000 |
Commercial (Secured by Real Estate - Owner Occupied) | 163,796,000 | 156,923,000 |
Commercial (Secured by Real Estate - Non-owner Occupied) - Pass | 163,356,000 | 165,950,000 |
Residential Mortgage 1-4 Family | 48,512,000 | 54,142,000 |
Construction, Land and Acquisition & Development | 74,463,000 | 67,622,000 |
Residential Mortgage - 60- 89 Days Past Due | — | 97,000 |
Substandard | 5,223,000 | 5,063,000 |
Residential Mortgage - Substandard | 2,387,000 | 2,572,000 |
Construction, Land and Acquisition & Development - Current | 74,448,000 | 67,605,000 |
Commercial and Industrial - Total Past Due | — | 1,000 |
Consumer Installment - 60- 89 Days Past Due | — | 76,000 |
Current | 724,235,000 | 706,831,000 |
Commercial (Secured by Real Estate - Owner Occupied) - Total Past Due | — | 690,000 |
Residential Mortgage - Pass | 46,010,000 | 51,358,000 |
Consumer Installment - Current | 132,144,000 | 119,715,000 |
Commercial and Industrial - Current | 145,638,000 | 148,149,000 |
Residential Mortgage - 30 -59 Days Past Due | 124,000 | 1,117,000 |
Consumer Installment - Special Mention | 152,000 | 218,000 |
Commercial and Industrial - 30 -59 Days Past Due | — | 1,000 |
30 -59 Days Past Due | 221,000 | 2,014,000 |
Commercial (Secured by Real Estate - Owner Occupied) - Special Mention | 276,000 | 301,000 |
Commercial (Secured by Real Estate - Non-owner Occupied) - Substandard | 133,000 | 178,000 |
Consumer Installment - Pass | 132,089,000 | 120,098,000 |
Consumer Installment - Current Period Gross Write-offs | 220,000 | 527,000 |
Commercial (Secured by Real Estate - Owner Occupied) - Current | 161,982,000 | 154,237,000 |
Commercial (Secured by Real Estate - Non-owner Occupied) - Current Period Gross Write-offs | — | 164,000 |
Residential Mortgage - Total Past Due | 124,000 | 1,214,000 |
Construction, Land and Acquisition & Development - Pass | 74,448,000 | 67,605,000 |
Commercial and Industrial - Substandard | 574,000 | — |
Less allowance for credit losses | 8,562,000 | 8,496,000 |
Construction, Land and Acquisition & Development | 1,461,000 | 1,134,000 |
Unallocated | 148,000 | 553,000 |
Unfunded Commmitments | 644,000 | 744,000 |
Commercial (Secured by Real Estate - Owner Occupied) | 1,116,000 | 1,082,000 |
Commercial and Industrial | 1,758,000 | 1,753,000 |
Commercial (Secured by Real Estate - Non-owner Occupied) | 1,108,000 | 1,115,000 |
Residential Mortgage | 1,139,000 | 1,227,000 |
Consumer Installment | 1,832,000 | 1,632,000 |
Net loans | 720,977,000 | 705,619,000 |
Premises and equipment, net | 2,955,000 | 3,261,000 |
Bank owned life insurance | 16,795,000 | 16,487,000 |
Intangible assets | 18,032,000 | 18,175,000 |
Other assets | 11,470,000 | 11,874,000 |
Total assets | 925,221,000 | 866,817,000 |
Liabilities and Stockholders' Equity | ||
Liabilities: | ||
Non-interest-bearing checking | 150,613,000 | 151,395,000 |
Interest-bearing checking | 86,824,000 | 73,841,000 |
Money market accounts | 176,477,000 | 148,752,000 |
Savings accounts | 93,938,000 | 76,053,000 |
Certificates of deposit | 231,524,000 | 223,440,000 |
Total deposits | 739,376,000 | 673,481,000 |
Federal Home Loan Bank advances and other borrowings | 54,000,000 | 58,815,000 |
Accrued interest payable and other liabilities | 6,440,000 | 5,406,000 |
Total liabilities | 799,816,000 | 737,702,000 |
Stockholders' equity: | ||
Common stock (par value $0.01 per share, 40,000,000 shares authorized; 6,193,686 issued and outstanding at September 30, 2025 and 6,409,598 issued and outstanding at December 31, 2024) | 62,000 | 64,000 |
Additional paid in capital | 59,584,000 | 62,355,000 |
Unearned ESOP shares | 3,742,000 | 4,378,000 |
Retained earnings | 73,976,000 | 76,786,000 |
Accumulated other comprehensive loss | (4,475,000) | (5,712,000) |
Total stockholders' equity | 125,405,000 | 129,115,000 |
Accumulated Other Comprehensive Income (Loss) | (4,475,000) | (5,712,000) |
Additional Paid In Capital | 59,584,000 | 62,355,000 |
Retained Earnings | 73,976,000 | 76,786,000 |
Common Stock | 62,000 | 64,000 |
Unearned ESOP Shares | (3,742,000) | (4,378,000) |
Total liabilities and stockholders' equity | 925,221,000 | 866,817,000 |