AFBIMEDIUM SIGNALFINANCIAL10-K

AFBI demonstrated notably stronger profitability and cash generation while reducing credit loss provisions and consolidating branch operations.

The bank's substantially higher net income paired with reduced credit loss provisions suggests improving asset quality and operational efficiency. However, the closure of the Alpharetta commercial loan production office may signal a strategic shift away from certain markets or lending activities that investors should monitor.

Comparing 2026-03-20 vs 2025-03-21View on EDGAR →
FINANCIAL ANALYSIS

AFBI's financial performance strengthened meaningfully across key metrics, with net income growing substantially while operating cash flow nearly doubled year-over-year. The bank simultaneously reduced its provision for credit losses by over one-third, indicating improved loan portfolio quality. Balance sheet fundamentals remained solid with a 30% increase in cash and equivalents, while the company returned more capital to shareholders through increased share buybacks.

FINANCIAL STATEMENT CHANGES
Share Buybacks
Cash Flow
+81%
$3.3M→$5.9M

Share repurchases increased 81% — management returning capital, signals confidence in intrinsic value.

Operating Cash Flow
Cash Flow
+71.4%
$6.8M→$11.6M

Operating cash flow surged 71.4% — exceptional cash generation, highest quality earnings signal.

Net Income
P&L
+53.1%
$5.4M→$8.3M

Net income grew 53.1% — bottom-line growth signals improving overall business health.

Provision for Credit Losses
P&L
-34.5%
$1.1M→$704K

Provisions reduced 34.5% — improving credit quality or reserve release boosting reported earnings.

Cash & Equivalents
Balance Sheet
+30%
$41.4M→$53.9M

Cash position surged 30% — strong cash generation or capital raise providing significant financial cushion.

LANGUAGE CHANGES
NEW — 2026-03-20
PRIOR — 2025-03-21
ADDED
As of March 18, 2026 there were 6,094,885 shares outstanding of the registrant s common stock.
Portions of the Proxy Statement for the 2026 Annual Meeting of Stockholders.
had total assets of $881.7 million, loans of $742.7 million, deposits of $695.0 million, and stockholders equity of $127.0 million.
Market Area We conduct our operations from our main office and one additional branch office in Covington, Georgia, which is located in Newton County, Georgia, and one branch office in Atlanta, Georgia, which is located in Cobb County.
As of June 30, 2025 (the most recent date for which data is available), our market share of deposits represented 19.99% of Federal Deposit Insurance Corporation-insured deposits in Newton County and 1.80% in Cobb County, ranking us first and 13th, respectively, in market share of deposits out of eight institutions operating in Newton County and 25 institutions operating in Cobb County.
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REMOVED
As of March 19, 2025 there were 6,387,329 s hares outstanding of the registrant s common stock.
Portions of the Proxy Statement for the 2025 Annual Meeting of Stockholders.
Government to remain open, function properly and manage federal debt limits; our compensation expense associated with equity allocated or awarded to our employees; the effects of climate change; the effects of domestic and international hostilities, including terrorism; the imposition of tariffs or other domestic or international governmental policies; changes in the financial condition, results of operations or future prospects of issuers of securities that we own; and the effects of any public health emergencies, pandemic disease, natural disaster, war, accident, or similar action or event.
had total assets of $866.8 million, loans of $714.1 million, deposits of $673.5 million, and stockholders equity of $129.1 million.
Market Area We conduct our operations from our main office and one additional branch office in Covington, Georgia, which is located in Newton County, Georgia, and one branch office in Atlanta, Georgia, which is located in Cobb County, as well as a commercial loan production office located in Alpharetta, Georgia, which is in Fulton County.
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