First Seacoast Bancorp, Inc. (FSEA): History, Ownership, Mission, How It Works & Makes Money

Ever wondered how a community bank navigates the financial landscape? Let's dive into First Seacoast Bancorp, Inc. (FSEA), a savings and loan holding company with a market capitalization of $47.8 million as of late 2024. How does FSEA operate and generate revenue, and what makes it a key player in providing commercial and consumer banking services? Keep reading to explore its history, ownership structure, mission, and financial strategies.

First Seacoast Bancorp, Inc. (FSEA) History

First Seacoast Bancorp, Inc. Founding Timeline

Year established

First Seacoast Bancorp, Inc. was established in 1890.

Original location

The company's original location was in Dover, New Hampshire.

Founding team members

The founding team members are not specified in the available resources.

Initial capital/funding

The initial capital or funding for First Seacoast Bancorp, Inc. is not specified in the provided resources.

First Seacoast Bancorp, Inc. Evolution Milestones

First Seacoast Bancorp, Inc. Transformative Moments

• Strategic Acquisitions: The company has grown significantly through several key acquisitions, such as First National Bank of Rochester and Ocean National Bank, expanding its market presence and service offerings.
• Mergers: A transformative moment included the merger with Maine Community Bancorp in 2019, which broadened its footprint and resources in the New England area.
• Conversion to Stock Savings Bank: The conversion to a stock savings bank in 1986 was a pivotal decision, providing access to greater capital and facilitating future growth.

To gain more insight into the company's guiding principles, review the Mission Statement, Vision, & Core Values of First Seacoast Bancorp, Inc. (FSEA).

First Seacoast Bancorp, Inc. (FSEA) Ownership Structure

First Seacoast Bancorp, Inc. features a blend of institutional, insider, and retail ownership, shaping its corporate governance and strategic direction.

First Seacoast Bancorp, Inc.'s Current Status

First Seacoast Bancorp, Inc. is a publicly traded company. This means that its shares are available for purchase by the general public on a stock exchange. As a publicly traded entity, First Seacoast Bancorp, Inc. is subject to regulatory requirements, including financial reporting and corporate governance standards, ensuring transparency and accountability to its shareholders and the market. For more insights into the company's financial standing, consider exploring: Breaking Down First Seacoast Bancorp, Inc. (FSEA) Financial Health: Key Insights for Investors

First Seacoast Bancorp, Inc.'s Ownership Breakdown

The ownership of First Seacoast Bancorp, Inc. is distributed among various types of shareholders. Here's a detailed breakdown:

First Seacoast Bancorp, Inc.'s Leadership

The leadership team of First Seacoast Bancorp, Inc. is responsible for setting the strategic direction, managing operations, and ensuring the company's financial health. Key members of the leadership team include:

• James R. Brannen: President and Chief Executive Officer
• Rick D. Goings: Executive Vice President and Chief Financial Officer

First Seacoast Bancorp, Inc. (FSEA) Mission and Values

First Seacoast Bancorp, Inc. aims to deliver strong financial solutions and build lasting relationships within its community. Its values emphasize integrity, customer focus, and community commitment.

First Seacoast Bancorp, Inc.'s Core Purpose

Official mission statement

First Seacoast Bancorp, Inc. did not have a formal mission statement available in the provided search results as of April 2025. However, here are some general points about mission statements:

• A mission statement is a concise explanation of an organization's reason for existence.
• It describes the company's purpose and its overall intention.
• The mission statement supports the vision and serves to communicate purpose and direction to employees, customers, vendors, and other stakeholders.

Vision statement

As of April 2025, First Seacoast Bancorp, Inc. did not have a formal vision statement available in the provided search results. However, here are some general points about vision statements:

• A vision statement outlines the future aspirations of the company.
• It serves as a clear guide for choosing current and future courses of action.
• Vision statements are aspirational and are intended to inspire and motivate employees, providing a clear sense of direction.

Company slogan/tagline

As of April 2025, there is no readily available official slogan or tagline for First Seacoast Bancorp, Inc. in the provided search results. However, here are some general points about slogans and taglines:

• A slogan is a memorable motto or phrase used in a political, commercial, religious, and other context as a repetitive expression of an idea or purpose.
• A tagline is a short phrase typically used in advertising.
• Both are used to create a memorable association to a product, service, or company.

For more in-depth information, you can check out: Mission Statement, Vision, & Core Values of First Seacoast Bancorp, Inc. (FSEA).

First Seacoast Bancorp, Inc. (FSEA) How It Works

First Seacoast Bancorp, Inc. operates as the holding company for First Seacoast Bank, providing a range of community banking services to individuals and businesses. The bank focuses on delivering personalized financial solutions, emphasizing local decision-making and community involvement.

First Seacoast Bancorp's Product/Service Portfolio

First Seacoast Bancorp's Operational Framework

First Seacoast Bancorp operates with a community-focused banking model. Its operational framework includes:

• Deposit Gathering: Attracting deposits from local customers through competitive interest rates and convenient banking services.
• Loan Origination: Providing loans to individuals and businesses within its local market, assessing creditworthiness and managing risk.
• Customer Service: Delivering personalized customer service through branch locations and digital channels.
• Investment Management: Managing its investment portfolio to generate income and maintain liquidity.
• Compliance and Risk Management: Adhering to regulatory requirements and managing financial risks.

First Seacoast Bancorp's Strategic Advantages

First Seacoast Bancorp's strategic advantages include:

• Local Market Focus: Deep understanding of the local market and customer needs.
• Relationship Banking: Building long-term relationships with customers through personalized service.
• Strong Community Reputation: Active involvement in community events and initiatives.
• Efficient Operations: Streamlined processes and technology to enhance efficiency and customer experience.
• Risk Management: Prudent risk management practices to ensure financial stability.

For additional insights into First Seacoast Bancorp, Inc.'s financial health, explore: Breaking Down First Seacoast Bancorp, Inc. (FSEA) Financial Health: Key Insights for Investors

First Seacoast Bancorp, Inc. (FSEA) How It Makes Money

First Seacoast Bancorp, Inc. primarily makes money through traditional banking activities, such as collecting interest on loans and investments, and from fees charged for various services.

First Seacoast Bancorp, Inc.'s Revenue Breakdown

While precise revenue breakdown data for First Seacoast Bancorp, Inc. may vary, here's a generalized example based on typical bank revenue streams:

First Seacoast Bancorp, Inc.'s Business Economics

First Seacoast Bancorp, Inc.'s business economics are driven by several key factors:

• Interest Rate Spread: The difference between the interest earned on loans and the interest paid on deposits is a primary driver of profitability.
• Loan Volume: The amount of loans the bank originates and services directly impacts its interest income.
• Fee Income: Charges for services like account maintenance, overdrafts, and wealth management contribute to overall revenue.
• Operating Efficiency: Managing operational costs effectively is crucial for maintaining profitability.
• Asset Quality: The quality of the loan portfolio impacts earnings, as defaults and non-performing loans can reduce profitability.

First Seacoast Bancorp, Inc.'s Financial Performance

Analyzing First Seacoast Bancorp, Inc.'s financial performance involves looking at key metrics that reflect its overall health and profitability.

• Net Income: Represents the company's profit after all expenses and taxes have been paid.
• Earnings Per Share (EPS): Indicates the profitability of the company on a per-share basis.
• Return on Assets (ROA): Measures how efficiently the company is using its assets to generate earnings. A higher ROA indicates better performance.
• Return on Equity (ROE): Measures how effectively the company is using shareholders' equity to generate profits. A higher ROE is generally more favorable.
• Net Interest Margin (NIM): Reflects the difference between the interest income generated from loans and investments and the interest expenses paid on deposits, relative to the amount of interest-earning assets.
• Efficiency Ratio: Measures a bank's overhead expenses as a percentage of its revenue; a lower ratio indicates greater efficiency.

For more insights into First Seacoast Bancorp, Inc.'s financial health, you can explore this analysis: Breaking Down First Seacoast Bancorp, Inc. (FSEA) Financial Health: Key Insights for Investors

First Seacoast Bancorp, Inc. (FSEA) Market Position & Future Outlook

First Seacoast Bancorp, Inc. aims to solidify its market position through strategic growth initiatives and capitalizing on emerging opportunities, while also navigating potential challenges in the financial landscape. For an in-depth look at the company's financial health, see Breaking Down First Seacoast Bancorp, Inc. (FSEA) Financial Health: Key Insights for Investors.

Competitive Landscape

Opportunities & Challenges

Industry Position

First Seacoast Bancorp operates primarily in the community banking sector within New Hampshire and Southern Maine. Their position is characterized by:

• Focus on providing personalized banking services to local communities.
• Emphasis on building long-term customer relationships.
• Commitment to supporting local businesses and economic development.

To strengthen its industry position, First Seacoast Bancorp could consider:

• Investing in technology to enhance digital banking capabilities.
• Expanding its product offerings to meet the evolving needs of its customers.
• Exploring strategic acquisitions to increase market share and geographic reach.