Mission Statement, Vision, & Core Values of First Seacoast Bancorp, Inc. (FSEA)

The foundational Mission Statement, Vision, and Core Values of First Seacoast Bancorp are the blueprint for how a community bank with $609.6 million in total assets navigates a complex financial market. You see the Q3 2025 net income of $0.39 million on the earnings report, but what principles drove that return to profitability after a nine-month net loss of $0.758 million? Honestly, understanding their defintely deep commitment to strengthening communities is as critical as the balance sheet, so let's unpack the strategic intent behind their operations.

First Seacoast Bancorp, Inc. (FSEA) Overview

You're looking for a clear-eyed view of a community bank that's navigating a tough rate environment, and First Seacoast Bancorp, Inc. (FSEA) is a perfect example of regional strength and financial resilience. The direct takeaway is that while the year-to-date financials show a net loss, the company successfully returned to profitability in the third quarter of 2025, driven by improved interest margins and a growing balance sheet.

First Seacoast Bancorp, operating through its wholly-owned subsidiary, First Seacoast Bank, has a deep history, starting back in 1890 as the Dover Co-Operative Savings Fund and Loan Association in Dover, New Hampshire. That long-term community focus is defintely a core part of their model. They primarily serve the Seacoast area of New Hampshire and southern Maine, offering a full suite of banking services to individuals and local businesses.

Their product mix is straightforward and community-centric. They focus heavily on lending, with their main product sales coming from a loan portfolio that stood at $433.5 million as of September 30, 2025. This portfolio is mostly concentrated in real estate, but they also offer commercial and consumer products, plus wealth management services through FSB Wealth Management.

• Residential mortgages are the biggest driver of their loan sales.
• Total assets expanded to $609.6 million in Q3 2025.
• Deposits grew to $480.0 million, showing strong local customer trust.

Q3 2025 Financial Performance: A Return to Profitability

The latest quarterly report, filed on November 14, 2025, shows a critical pivot. For the nine months ended September 30, 2025, First Seacoast Bancorp recorded a net loss of $758 thousand, which is a reversal from the $895 thousand net income in the same period last year. Here's the quick math: that year-to-date loss was heavily influenced by increased non-interest expenses and the absence of a large one-time gain from the prior year.

But the third quarter itself was a win. The company posted a net income of $390 thousand, a significant jump from just $44 thousand in the third quarter of 2024. This return to profitability was fueled by a solid increase in their primary revenue stream: net interest and dividend income. This income rose to $3.45 million for the quarter, up from $2.98 million a year ago.

This is a testament to effective liability cost management, which helped expand the Net Interest Margin (NIM) to 2.32% in Q3 2025. That NIM expansion is the key metric here; it shows they are managing to earn more on their assets than they are paying out on their deposits and borrowings, even in a volatile interest rate cycle.

First Seacoast Bancorp as a Regional Leader

In the New Hampshire and southern Maine Seacoast region, First Seacoast Bancorp is positioned as a leading community financial institution, and the data backs up their claim to strong fundamentals. While they are a smaller player with a market capitalization around $55.7 million, their success is rooted in exceptional asset quality, which is a huge differentiator in banking.

For instance, as of September 30, 2025, non-performing loans were only $194 thousand, which is a minimal 0.04% of total loans. That's a sign of a very clean balance sheet and disciplined lending. Plus, they reported zero net charge-offs year-to-date. That's a rock-solid foundation.

Their Vision Statement is clear: to become the leading community financial institution in their region by fostering relationships and embracing innovation. This focus on local impact, paired with their financial discipline, is why they continue to grow their total assets and deposits. If you want to dig deeper into who is betting on this regional strength, you should check out Exploring First Seacoast Bancorp, Inc. (FSEA) Investor Profile: Who's Buying and Why?

First Seacoast Bancorp, Inc. (FSEA) Mission Statement

When you look at a bank's mission statement, you're not just reading corporate fluff; you're seeing the strategic blueprint that drives every capital allocation decision. For First Seacoast Bancorp, Inc. (FSEA), the holding company for First Seacoast Bank, their mission is a clear directive: Put the people and places we serve first by providing progressive financial products and services to our customers, strengthening our communities, and creating value for our employees and shareholders. This statement is a three-pronged commitment that anchors their long-term goals, especially as they navigate a challenging rate environment.

This is a community bank's promise, but it's also a clear map for investors. It tells you exactly where their focus-and your capital-is directed. The key is seeing how their recent performance, like the $609.6 million in total assets reported in the third quarter of 2025, aligns with these core values. Let's break down the three components, because each one is a lens for analyzing FSEA's operational strategy.

Progressive Financial Products and Customer Service

The first mandate is to 'provide progressive financial products and services to our customers.' This isn't just about offering checking accounts; it's about delivering a full spectrum of services that meet the evolving needs of the Seacoast region of New Hampshire and southern Maine. Their business highlights show a focus on four core services: residential lending, commercial banking, personal banking, and wealth management.

The proof is in the portfolio. As of the third quarter of 2025, First Seacoast Bancorp's loan portfolio stood strong at $433.5 million, reflecting their commitment to local lending and growth. Plus, their wealth management division is growing, with assets under management (AUM) increasing to $141.5 million at the end of 2024, up from $123.5 million the prior year. That's a solid, tangible example of providing a higher-value service. You need to see this growth in non-interest income to defintely offset the pressure on net interest margin (NIM).

• Focus on relationship-driven service.
• Offer residential, commercial, and personal banking.
• Deliver wealth management and trust services.

Strengthening Our Communities

The second component, 'strengthening our communities,' is the heart of any true community bank's value proposition. For First Seacoast Bancorp, this is about local decision-making and active engagement in the areas around Dover, New Hampshire, and its four branch offices. They've been in the Seacoast area since 1890, so this isn't a new marketing slogan; it's a legacy.

They accomplish this through tangible programs like employee volunteerism and financial literacy initiatives. The community commitment also shows up in their credit quality. As of Q3 2025, nonaccrual loans-those loans where the borrower is significantly behind on payments-were only $194 thousand. That's a very small number, suggesting that their local lending decisions are sound and their borrowers are financially stable. It's a key indicator of a healthy community and a responsible lending practice. You can learn more about the stakeholders who believe in this model by Exploring First Seacoast Bancorp, Inc. (FSEA) Investor Profile: Who's Buying and Why?

Creating Value for Employees and Shareholders

The final pillar is the financial and human capital commitment: 'creating value for our employees and shareholders.' For employees, this is about offering a 'challenging and rewarding work environment.' For shareholders, it's about the bottom line and capital management.

Here's the quick math on shareholder value: while the company recorded a net loss of $(758) thousand for the first nine months of 2025, due largely to increased non-interest expenses, they returned to profitability in the third quarter alone, posting a net income of $390 thousand. The balance sheet expansion is also a positive sign, with total assets growing to $609.6 million and stockholders' equity increasing to $63.16 million in Q3 2025. This shows the management team is focused on building long-term equity value, even as they navigate short-term interest rate headwinds. The goal is stability and a financially healthy future for the Seacoast, and that requires a strong balance sheet.

First Seacoast Bancorp, Inc. (FSEA) Vision Statement

You're looking for the strategic roadmap for First Seacoast Bancorp, Inc. (FSEA), and the vision statement is your best guide. The core takeaway is that First Seacoast Bancorp is balancing its deep, 135-year history of community banking with a necessary push for modern financial innovation. This isn't just about managing money; it's about being the top local player in the Seacoast region by evolving without abandoning its roots.

The company's vision is clear: Foster the relationships we have built since 1890 while embracing innovation to become the leading community financial institution in the Seacoast region. To be fair, that's a tough dual mandate-honoring the past while building the future. Let's break down what each part means for your investment thesis, especially when you map it against the 2025 fiscal year numbers.

Fostering Relationships: The Community Foundation

The first part of the vision is all about the 'community financial institution' model. This is the bedrock of First Seacoast Bancorp, which has served the Seacoast area of New Hampshire since 1890. Their focus is hyper-local, and this commitment is what keeps their credit quality exceptionally strong, even as they navigate a challenging rate environment.

Here's the quick math on their asset quality, which is a direct reflection of their relationship-driven lending:

• Non-performing loans (NPLs) totaled only $194 thousand as of September 30, 2025.
• This NPL figure represents a minimal 0.04% of total loans, which is superior credit quality.
• The bank also recorded zero net charge-offs year-to-date (YTD) 2025.

This exceptional credit performance shows the value of local decision-making and knowing your borrowers. It's what allows them to maintain public trust and operate in a sound financial manner, which is a core value. Still, the overall nine-month YTD 2025 net loss of $(0.76) million tells you that strong relationships don't automatically translate to profitability in a high-cost environment. The business is sound, but the market is hard.

Embracing Innovation: The Path to Leadership

The second, forward-looking component of the vision is 'embracing innovation to become the leading community financial institution.' This is their growth strategy-using modern tools to scale their personalized service beyond their physical branches in places like Dover and Portsmouth. Innovation here means digital banking capabilities and progressive financial products to serve individuals, families, and businesses.

The financial results for the third quarter of 2025 (Q3 2025) show this strategy starting to pay off on the margin side:

• Net Interest Income (NII) for the nine months ended September 30, 2025, was $10.05 million, up from $8.90 million in the prior year period.
• Q3 2025 net income was $0.39 million, a significant jump from $0.044 million a year ago.
• Diluted earnings per share (EPS) for Q3 2025 was $0.08.

This Q3 profit suggests their efforts to manage liability costs and improve interest margins are defintely working, helping reverse the YTD net loss trend. However, the push for growth also introduces risk, as seen in their increased reliance on non-core funding, like brokered time deposits, which surged by $11.8 million YTD to $75 million. That's the trade-off: you use expensive funding to fuel growth and innovation, but it intensifies interest rate risk.

To get a deeper look at the risks and opportunities behind these numbers, you should check out Breaking Down First Seacoast Bancorp, Inc. (FSEA) Financial Health: Key Insights for Investors.

Core Values: The Operational Guardrails

The core values act as the operational framework for achieving the vision, ensuring the pursuit of 'leading' status doesn't compromise their community identity. They focus on four main areas:

• Service: Providing high-quality, personalized, convenient service.
• Employees: Offering a challenging and rewarding work environment.
• Trust: Maintaining public trust by operating in an ethical and sound financial manner.
• Community: Empowering employees to actively and positively contribute to the quality of life in their communities.

The fact that the company's total assets stand at $609.6 million as of September 30, 2025, shows they have the necessary scale to be a significant player in their regional market. But the real test of these values is how they manage the dual pressure of a YTD net loss and the need to grow. The value of 'Trust' is well-supported by their asset quality, but the value of 'Employees' and 'Community' will be tested if the YTD loss of $(0.76) million persists, making it harder to create shareholder value and fund community initiatives.

First Seacoast Bancorp, Inc. (FSEA) Core Values

You're looking for a clear map of what drives a company like First Seacoast Bancorp, Inc. (FSEA), especially when the market is still navigating volatility. The core values aren't just corporate boilerplate; they are the operational guideposts that dictate capital allocation, risk management, and ultimately, shareholder returns. For FSEA, these values center on a deep-rooted commitment to the Seacoast region, which is the engine of their business model.

Honestly, a community bank's values are its competitive edge. They translate directly into loan quality and deposit loyalty, which is defintely critical when interest rate environments are challenging. To understand the full picture of FSEA's history, mission, and how they make money, you can read more here: First Seacoast Bancorp, Inc. (FSEA): History, Ownership, Mission, How It Works & Makes Money.

Community Focus and Local Impact

The value of putting the people and places they serve first is central to First Seacoast Bancorp, Inc.'s identity, dating back to 1890. This isn't just a feel-good statement; it's a strategic choice that anchors their lending activities primarily in and around Dover, New Hampshire, and their four branch offices in the Seacoast region. This local focus reduces information asymmetry and improves credit quality.

Their commitment manifests through tangible actions like charitable giving, employee volunteerism, and financial literacy programs. They are actively and positively contributing to the quality of life in their communities, which builds the brand recognition and trust that drives deposit growth. It's a virtuous cycle: local support equals local loyalty.

• Support local nonprofits and schools.
• Provide financial literacy education.
• Encourage employee volunteerism in the Seacoast area.

Customer-Centric Service and Innovation

First Seacoast Bancorp, Inc. is committed to fostering relationships built on respect and fairness while simultaneously embracing innovation. This means providing high-quality, personalized service while also ensuring their progressive financial products are accessible. They are a community bank, but they know they have to compete with national players on technology.

A concrete example is their investment in digital tools to simplify banking and the offering of their Rewards Checking accounts. This product, which offers perks for everyday banking activities like using a debit card or signing up for eStatements, shows they are willing to innovate on product structure to reward customer loyalty without high fees. The goal is to keep the customer relationship strong for the long term, which is the most valuable asset a bank can have.

Creating Value for Employees and Shareholders

The mission explicitly links strengthening the community with creating value for employees and shareholders. This is a crucial alignment. A challenging and rewarding work environment is key to retaining the seasoned professionals who deliver the personalized service customers expect. The bank understands that employee turnover is a direct threat to customer relationships and, therefore, to financial stability.

To align interests, all eligible employees are stockholders through the Employee Stock Ownership Plan (ESOP). This provides stock ownership on a tax-deferred basis at no investment cost to the employee, directly linking their personal financial success to the company's stock performance. This is smart governance. The recent executive leadership transition in May 2025, appointing Richard M. Donovan as President and CFO and James R. Brannen as CEO, was explicitly designed to ensure a seamless transition and focus on advancing the bank's mission and strategic priorities.

Ethical Operations and Financial Stability

Maintaining public trust by operating in an ethical and sound financial manner is the bedrock of any successful bank. For FSEA, this commitment to long-term stability is especially visible in their balance sheet management, particularly given the challenging interest rate environment of 2025.

The company is working to improve its net interest margin (NIM) and reduce exposure to high interest rates. Here's the quick math on their recent performance: for the third quarter of 2025, the company reported a Net Income (Loss) of $(0.76) million, compared to a gain of $0.90 million in the prior year period, primarily due to increased non-interest expenses. Still, their Total Interest and Dividend Income actually increased to $20.05 million, up from $18.90 million, showing strength in their core earning assets.

To optimize earning assets and improve net interest margin, the company executed a balance sheet repositioning strategy, which, while incurring a realized loss in 2023, is expected to result in approximately $995,000 of additional after-tax earnings annually going forward. Also, they completed a sale-leaseback transaction in June 2024, converting non-earning properties to cash to reduce wholesale borrowings, a clear action to enhance liquidity and financial health. They are taking clear, decisive action to manage the yield curve pressure.