FSBC — what changed in the latest 10-Q
A section-by-section comparison of FSBC's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-05-07 vs the prior 10-Q · 2025-11-06
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +74 | −125 | ~49 | 79 |
| Market risk (Item 3) | Text added/removed | +1 | −1 | ~4 | 3 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 0 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | Text added/removed | 0 | 0 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-05-07
Our most significant accounting policies and our critical accounting estimates are described in greater detail in Note 1, Basis of Presentation, in our audited consolidated financial statements and Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations - Critic…
Pursuant to the JOBS Act, as an emerging growth company, we can elect to opt out of the extended transition period for adopting any new or revised accounting standards. We have elected not to opt out of the extended transition period, which means that when a standard is issued or revised and it has …
•Loans. Total loans held for investment were $4.2 billion at March 31, 2026, as compared to $4.1 billion at December 31, 2025, an increase of $138.5 million, or 3.40%. The increase was a result of $389.0 million in loan originations and advances, partially offset by $67.9 million and $182.6 million …
•Credit Quality. Credit quality remains strong, with non-accrual loans representing $2.8 million, or 0.07% of total loans held for investment at March 31, 2026, as compared to $3.1 million, or 0.08% of total loans held for investment at December 31, 2025. The ratio of the allowance for credit losses…
•Net Interest Margin. Net interest margin was 3.70% for the three months ended March 31, 2026, and 3.45% for the three months ended March 31, 2025. The increase in net interest margin for the three months ended March 31, 2026 compared to the three months ended March 31, 2025 is primarily due to an i…
Text removed vs the prior filing · source: 10-Q · 2025-11-06
a basis consistent with, and should be read in conjunction with, the audited consolidated financial statements as filed in our 2024 Annual Report on Form 10-K and the notes thereto.
Our most significant accounting policies and our critical accounting estimates are described in greater detail in Note 1, Basis of Presentation, in our audited consolidated financial statements and Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations - Critic…
Pursuant to the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), as an emerging growth company, we can elect to opt out of the extended transition period for adopting any new or revised accounting standards. We have elected not to opt out of the extended transition period, which means t…
•Assets. Total assets were $4.6 billion at September 30, 2025, representing a $588.5 million, or 14.52%, increase compared to $4.1 billion at December 31, 2024.
•Loans. Total loans held for investment were $3.9 billion at September 30, 2025, as compared to $3.5 billion at December 31, 2024, an increase of $354.6 million, or 10.04%. The increase was a result of $931.8 million in loan originations and advances, partially offset by $219.8 million and $357.5 mi…
Market risk (Item 3)
Text added vs the prior filing · source: 10-Q · 2026-05-07
The Company’s total interest income was $67.3 million for the three months ended March 31, 2026 and $248.9 million for the year ended December 31, 2025. Our total interest expense was $23.9 million for the three months ended March 31, 2026 and $97.0 million for the year ended December 31, 2025. Over…
Text removed vs the prior filing · source: 10-Q · 2025-11-06
The Company’s total interest income was $64.8 million for the three months ended September 30, 2025 and $207.0 million for the year ended December 31, 2024. Our total interest expense was $25.5 million for the three months ended September 30, 2025 and $87.2 million for the year ended December 31, 20…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice