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Subsequent Events | 9 Months Ended
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Sep. 30, 2024
Subsequent Events [Abstract] |
Subsequent Events | 12. Subsequent Events Management has evaluated subsequent events through the date that these unaudited financial statements were available to be issued, November 14, 2024 and determined that the following matter required additional disclosure. No other subsequent events occurring after this date have been evaluated for inclusion in these financial statements. FB Bancorp, Inc. (the "Company"), the new holding company for Fidelity Bank, has completed its initial public offering in connection with the Bank’s conversion from the mutual form of organization to the stock form of organization, effective October 22, 2024. The Company sold 19,837,500 shares of common stock, which includes 586,655 shares sold to the Bank’s Employee Stock Ownership Plan, for gross offering proceeds (before deducting offering expenses) of approximately $198.4 million based on the offering price of $10.00 per share. The Company was oversubscribed in Priority 2. Consequently, all valid stock orders submitted by Priority 1 eligible purchasers in the Subscription Offering were filled in full, Fidelity Bank’s Employee Stock Ownership Plan (as Priority 2 in the offering) purchased 586,655 shares, and all Priority 3 and Priority 4 subscribers had their orders refunded. The Company has 19,837,500 shares of common stock issued and outstanding. As of September 30, 2024, Fidelity Bank held approximately $254 million in tentative proceeds from all Priority levels of the stock conversion. As of November 8, 2024, the Bank paid $85 million of the $120 million borrowed on the Federal Reserve’s special Bank Term Funding Program.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/855/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483399/855-10-50-2 + Details
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