First Seacoast Bancorp, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 09, 2023 at 08:31 am EST
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First Seacoast Bancorp, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net interest income was USD 2.57 million compared to USD 3.79 million a year ago. Net loss was USD 0.911 million compared to net income of USD 0.468 million a year ago. Basic loss per share from continuing operations was USD 0.2 compared to basic earnings per share from continuing operations of USD 0.1 a year ago. Diluted loss per share from continuing operations was USD 0.2 compared to diluted earnings per share from continuing operations of USD 0.1 a year ago.
For the nine months, net interest income was USD 8.75 million compared to USD 11.32 million a year ago. Net loss was USD 0.987 million compared to net income of USD 1.04 million a year ago. Basic loss per share from continuing operations was USD 0.21 compared to basic earnings per share from continuing operations of USD 0.22 a year ago. Diluted loss per share from continuing operations was USD 0.21 compared to diluted earnings per share from continuing operations of USD 0.22 a year ago.
First Seacoast Bancorp, Inc. is the savings and loan holding company for First Seacoast Bank (the Bank). The Bank's business consists primarily of taking deposits from the general public and investing those deposits, together with funds generated from operations and borrowings from the Federal Home Loan Bank, in one- to four-family residential real estate loans, commercial real estate and multi-family real estate loans, acquisition, development and land loans, commercial and industrial loans, home equity loans and lines of credit and consumer loans. Investment management services are offered through FSB Wealth Management. FSB Wealth Management is a division of the Bank. FSB Wealth Management provides access to non-Federal Deposit and Insurance Corporation (FDIC) insured products that include retirement planning, portfolio management, investment and insurance strategies, business retirement plans and college planning to individuals throughout its primary market area.