The capital structure appears vulnerable with an equity-to-assets ratio of 0.11 and a heavy concentration of $557.6 million in investment securities as of 2026Q1.
| Cash & Short Term Investments | 634.35M | 165.82M | 127.32M | 127.92M | 115.1M | 99.25M | 63.95M | 51.53M | 51.79M | 39.51M |
| Cash & Due from Banks | 12.79M | 13.41M | 7.1M | 6.07M | 9M | 7.88M | 8.48M | 6.74M | 12.35M | 10.62M |
| Short Term Investments | 142.66M | 152.41M | 120.22M | 121.85M | 106.1M | 91.36M | 55.47M | 44.78M | 39.44M | 28.89M |
| Total Investments | 557.62M | 570.94M | 555.7M | 548.5M | 505.02M | 464.42M | 420.27M | 386.76M | 358.06M | 333.38M |
| Investments Growth % | 5.67% | 2.74% | 1.31% | 8.61% | 8.74% | 10.5% | 8.66% | 8.02% | 7.4% | - |
| Long-Term Investments | 1.7B | 416.05M | 435.48M | 426.64M | 398.92M | 373.05M | 364.8M | 341.98M | 318.62M | 304.49M |
| Accounts Receivables | 2.18M | 2.11M | 2.1M | 2.29M | 1.99M | 1.5M | 1.41M | 1.24M | 1.16M | 1.08M |
| Goodwill & Intangibles | 0 | 324K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 324K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| PP&E (Net) | 859K | 0 | 754K | 4.07M | 4.18M | 4.57M | 5.08M | 5.34M | 5.58M | 5.94M |
| Other Assets | 12.91M | 15M | 15.13M | 10.11M | 17.23M | 8.71M | 7.82M | 9.41M | 9.96M | 8.72M |
| Total Current Assets | 157.63M | 167.93M | 129.42M | 130.22M | 117.08M | 100.75M | 65.37M | 52.76M | 52.96M | 40.59M |
| Total Non-Current Assets | 428.73M | 431.37M | 451.36M | 440.82M | 420.34M | 386.33M | 377.7M | 356.73M | 334.16M | 319.16M |
| Total Assets | 586.36M | 599.29M | 580.78M | 571.03M | 537.42M | 487.07M | 443.06M | 409.49M | 387.11M | 359.75M |
| Asset Growth % | 3.95% | 3.19% | 1.71% | 6.25% | 10.34% | 9.93% | 8.2% | 5.78% | 7.61% | - |
| Return on Assets (ROA) | -0.13% | -0.14% | -0.09% | -1.92% | -0.11% | 0.56% | 0.25% | -0.02% | 0.29% | 0.25% |
| Accounts Payable | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Debt | 52.31M | 57.66M | 52.27M | 73.01M | 99.4M | 29.46M | 34.13M | 66.22M | 75.74M | 72.22M |
| Net Debt | 39.52M | 44.25M | 45.17M | 66.94M | 90.4M | 21.58M | 25.64M | 59.48M | 63.39M | 61.61M |
| Long-Term Debt | 52.31M | 2.31M | 52.27M | 73.01M | 99.4M | 29.46M | 34.13M | 66.22M | 75.74M | 65.76M |
| Short-Term Debt | 0 | 50.67M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 6.46M |
| Other Liabilities | 14.89M | 477.92M | 12.25M | 26.61M | 6.33M | 3.9M | 22.69M | 4.59M | 4.2M | 6.06M |
| Total Current Liabilities | 459M | 50.67M | 454.21M | 404.8M | 382.36M | 393.24M | 327.38M | 281.62M | 274.45M | 256.02M |
| Total Non-Current Liabilities | 67.2M | 485.76M | 64.52M | 99.62M | 105.72M | 33.36M | 56.82M | 70.81M | 79.94M | 71.83M |
| Total Liabilities | 526.2M | 535.75M | 518.73M | 504.42M | 488.09M | 426.61M | 384.2M | 352.43M | 354.39M | 327.85M |
| Total Equity | 62.61M | 63.55M | 62.05M | 66.62M | 49.34M | 60.47M | 58.86M | 57.07M | 32.73M | 31.9M |
| Equity Growth % | -5.06% | 2.41% | -6.86% | 35.03% | -18.41% | 2.73% | 3.15% | 74.37% | 2.6% | - |
| Equity / Assets (Capital Ratio) | 10.68% | 10.6% | 10.68% | 11.67% | 9.18% | 12.41% | 13.29% | 13.94% | 8.45% | 8.87% |
| Return on Equity (ROE) | -1.2% | -1.35% | -0.8% | -18.38% | -1.03% | 4.39% | 1.86% | -0.18% | 3.34% | 2.86% |
| Book Value per Share | 14.61 | 17.28 | 14.31 | 14.32 | 10.24 | 10.39 | 10.04 | 21.18 | 12.23 | 11.92 |
| Tangible BV per Share | 14.61 | 17.20 | 14.31 | 14.32 | 10.24 | 10.39 | 10.04 | 21.18 | 12.23 | 11.92 |
| Common Stock | 53K | 53K | 53K | 52K | 62K | 62K | 61K | 61K | 33.19M | 32.11M |
| Additional Paid-in Capital | 54.68M | 54.52M | 53.9M | 52.64M | 26.77M | 26.78M | 25.61M | 25.64M | 0 | 0 |
| Retained Earnings | 23.73M | 24.24M | 25.08M | 25.6M | 36.25M | 36.81M | 34.19M | 0 | 0 | 0 |
| Accumulated OCI | -5.55M | -4.84M | -7.04M | -5.94M | -9.73M | 721K | 1.38M | 521K | -465K | -214K |
| Treasury Stock | -6.07M | -6.07M | -5.08M | -1.38M | -1.38M | -748K | -233K | 0 | 0 | 0 |
| Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Liquidity and concentration risk
As reported in recent financial statements, FSEA's total assets have trended downward from a peak of $609.6 million in 2025Q3 to $586.4 million in 2026Q1, reflecting a balance sheet that appears to be shrinking rather than scaling in its core New Hampshire market.
The consistent decline in total assets suggests that the bank is struggling to originate sufficient new loans to offset the natural runoff of its existing portfolio. This contractionary trend may indicate that the institution is losing its competitive footing in Strafford County, potentially limiting its ability to achieve the economies of scale necessary for future profitability.
Based on the provided quarterly data, the bank maintains a significant portion of its assets in investment securities, which totaled $557.6 million in 2026Q1, suggesting a structural reliance on this portfolio to manage liquidity needs rather than relying on core deposit growth.
The high ratio of investment securities to total assets implies that the bank's liquidity profile is heavily dependent on the market value and yield of its bond portfolio. Investors should monitor whether this concentration limits the bank's flexibility to pivot toward higher-yielding loan opportunities as the local economic environment evolves.
According to recent regulatory filings, the equity-to-assets ratio has remained thin, hovering near 0.11 as of 2026Q1, which indicates that the bank's capital cushion is relatively modest and potentially insufficient to absorb significant credit shocks without further diluting existing stakeholders.
The stability of the equity-to-assets ratio at this low level suggests that management is prioritizing capital preservation, yet the lack of organic earnings growth prevents meaningful capital accumulation. This constrained position may limit the bank's strategic options, including potential M&A activity or necessary investments in digital infrastructure.
As indicated by the bank's financial snapshot, the overwhelming concentration of assets in securities rather than loans, combined with a negative net interest income of $3.0 million in 2026Q1, suggests a fundamental duration mismatch that warrants further investigation by market participants.
The bank's inability to generate positive net interest income while holding such a large securities portfolio may imply that the cost of funding is currently outpacing the yields on its long-term assets. This structural imbalance appears to be a primary driver of the bank's current profitability challenges and suggests that the balance sheet is highly sensitive to interest rate volatility.
Quick answers to the most common questions about buying FSEA stock.
As of 2025, First Seacoast Bancorp (FSEA) had total assets of $599.3M including $167.9M in current assets.
First Seacoast Bancorp (FSEA) carries total debt of $57.7M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
First Seacoast Bancorp (FSEA) has total shareholders' equity (book value) of $63.5M ($17.28 book value per share). Book value represents the net worth of the company belonging to common stock holders.
First Seacoast Bancorp (FSEA) reported a current ratio of 3.31x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.