Affinity Bancshares, Inc. (AFBI)
Affinity Bancshares, Inc. operates as the holding company for Affinity Bank, National Association that provides various banking products and services in the United States. The company offers deposit products, including savings accounts, checking accounts, certificates of deposit, and individual retirement accounts, as well as Kasasa (rewards) deposit program for checking accounts with interest rates or cash-back rewards. It also provides commercial and industrial, commercial real estate, residential mortgage, construction and land, consumer, balloon, and adjustable-rate loans. In addition, the company invests in U.S. treasury securities; securities issued by the U.S. government and its agencies, or government sponsored enterprises, including mortgage-backed securities and collateralized mortgage obligations; corporate and municipal bonds; certificates of deposit in other financial institutions; and federal and money market funds. Further, it operates FitnessBank, a virtual bank which accepts deposits and provides higher interest rates based on customers meeting certain fitness goals. The company was founded in 1928 and is headquartered in Covington, Georgia.
Sector: Savings Institutions, Not Federally Chartered
Industry: Banks - Regional
Affinity Bancshares, Inc.
NASDAQ:AFBIFinancial Services · Banks - Regional
Mkt Cap$140.18M
Float4.23M
O/S6.09M
Inst Own30.0%
SI0.3%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$52.93M
Net Income$8.33M
Total Assets$881.7M
Free Cash Flow$11.22M
Debt & Equity
Debt 30%
Equity 70%
Total Debt$54M
Total Equity$127.02M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in AFBI's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$881.7M
Liabilities$754.68M
Accounts Receivable$0
Accounts Payable$0
Inventory$0
PP&E (Net)$2.84M
Goodwill$17.2M
Intangible Assets$784K
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-09-30 | 2016-09-30 | 2015-09-30 |
| Revenue | $52.93M | $49.99M | $45.17M | $34.54M | $35.13M | $32.48M | $16.66M | $16.12M | $13.63M | $12.26M | $11.75M |
| YoY Growth | 5.9% | 10.7% | 30.8% | -1.7% | 8.2% | 94.9% | 3.4% | 18.2% | 11.2% | 4.3% | - |
| Cost of Revenue | $20M | $19.25M | $15.46M | $3.08M | $4.25M | $7.49M | $2.31M | $0 | $0 | $0 | $0 |
| Gross Profit | $32.94M | $30.74M | $29.71M | $31.45M | $30.88M | $25.01M | $14.35M | $16.12M | $13.63M | $12.26M | $11.75M |
| Gross Margin | 62.2% | 61.5% | 65.8% | 91.1% | 87.9% | 77.0% | 86.1% | 100.0% | 100.0% | 100.0% | 100.0% |
| Research and Development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $16.53M | $13.13M | $12.25M | $12.22M | $11M | $12.36M | $8.17M | $10.92M | $8.8M | $7.49M | $6.01M |
| Other | $5.17M | $10.63M | $9.07M | $9.9M | $9.97M | $8.77M | $5.85M | $0 | $0 | $0 | $0 |
| Total Operating Expenses | $21.7M | $23.76M | $21.32M | $22.13M | $20.97M | $21.13M | $14.03M | $10.92M | $8.8M | $7.49M | $6.01M |
| Operating Income (EBIT) | $11.24M | $6.98M | $8.39M | $9.33M | $9.91M | $3.88M | $326K | $3.31M | $3.79M | $3.52M | $4.1M |
| Operating Margin | 21.2% | 14.0% | 18.6% | 27.0% | 28.2% | 11.9% | 2.0% | 20.6% | 27.8% | 28.7% | 34.9% |
| Interest Expense | $19.87M | $18.81M | $15.5M | $2.38M | $3.18M | $5.49M | $2.31M | $0 | $0 | $0 | $0 |
| Interest Income | $63.02M | $47.97M | $42.7M | $32.13M | $32.45M | $30.63M | $15M | $0 | $0 | $0 | $0 |
| Other Income (Expense) | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$1.55M | -$1.72M | -$1.67M | -$1.61M |
| Income Before Tax (EBT) | $11.24M | $6.98M | $8.39M | $9.33M | $9.91M | $3.88M | $326K | $1.65M | $2.07M | $1.85M | $2.49M |
| Income Tax Expense | $2.9M | $1.54M | $1.94M | $2.19M | $2.34M | $792K | -$29K | $1.21M | $706K | $697K | $879K |
| Net Income | $8.33M | $5.44M | $6.45M | $7.13M | $7.57M | $3.09M | $355K | $449K | $1.36M | $1.16M | $1.61M |
| Net Income Margin | 15.7% | 10.9% | 14.3% | 20.7% | 21.6% | 9.5% | 2.1% | 2.8% | 10.0% | 9.4% | 13.7% |
| Supplementary Data | |||||||||||
| EPS | 1.33 | 0.85 | 1.00 | 1.07 | 1.10 | 0.45 | 0.05 | 0.07 | 0.22 | 0.19 | 0.26 |
| Diluted EPS | 1.29 | 0.83 | 0.98 | 1.06 | 1.09 | 0.45 | 0.05 | 0.07 | 0.22 | 0.19 | 0.26 |
| Weighted Average OS | 6.14M | 6.41M | 6.48M | 6.67M | 6.88M | 6.87M | 6.88M | 6.24M | 6.24M | 6.24M | 6.24M |
| EBITDA | $11.96M | $7.72M | $9.12M | $9.66M | $10.59M | $4.58M | $1.21M | $2.36M | $2.52M | $2.2M | $2.79M |
| EBITDA Margin | 22.6% | 15.4% | 20.2% | 28.0% | 30.1% | 14.1% | 7.3% | 14.6% | 18.4% | 18.0% | 23.8% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-09-30 | 2016-09-30 | 2015-09-30 |
| Assets | |||||||||||
| Current Assets | |||||||||||
| Cash and Cash Equivalents | $53.85M | $41.42M | $50.02M | $26.32M | $111.78M | $178.25M | $48.12M | $35.2M | $0 | $24.81M | $38.15M |
| Short-Term Investments | $17.19M | $36.5M | $48.56M | $46.2M | $48.56M | $24M | $3.82M | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $71.04M | $77.93M | $98.59M | $72.52M | $160.33M | $202.26M | $51.94M | $35.2M | $0 | $24.81M | $38.15M |
| Accounts Receivable | $0 | $0 | $0 | $0 | $8.01M | $10.36M | $3.01M | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $25.21M | $0 | $0 |
| Total Current Assets | $71.04M | $77.93M | $98.59M | $72.52M | $168.34M | $212.62M | $54.95M | $40.86M | $25.21M | $25.69M | $39.03M |
| Long-Term Assets | |||||||||||
| Property, Plant & Equipment Net | $2.84M | $3.26M | $3.8M | $4.26M | $3.78M | $8.62M | $8.51M | $9.04M | $8.78M | $4.56M | $4.26M |
| Goodwill | $17.2M | $0 | $0 | $0 | $17.23M | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $784K | $18.18M | $18.37M | $18.56M | $1.52M | $18.94M | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $761.52M | $739.09M | $690.6M | $664.52M | $578.3M | $593.85M | $248.23M | $36.95M | $22.58M | $22.1M | $36.01M |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $28.32M | $28.36M | $31.91M | $31.43M | $18.91M | $16.6M | $7.6M | $219.13M | $229.35M | $180.49M | $147.04M |
| Total Long-Term Assets | $810.66M | $788.89M | $744.67M | $718.76M | $619.75M | $638.01M | $264.35M | $265.12M | $260.71M | $207.14M | $187.31M |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $881.7M | $866.82M | $843.26M | $791.28M | $788.09M | $850.63M | $319.29M | $305.98M | $285.92M | $232.83M | $226.34M |
| Liabilities | |||||||||||
| Current Liabilities | |||||||||||
| Accounts Payable | $0 | $0 | $0 | $6.98M | $5.34M | $4.75M | $3.95M | $0 | $0 | $0 | $0 |
| Short-Term Debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Liabilities | $695M | $673.48M | $674.44M | $657.17M | $612.8M | $640.16M | $238.18M | $28.8M | $25.12M | $0 | $0 |
| Total Current Liabilities | $695M | $673.48M | $674.44M | $664.15M | $618.13M | $644.91M | $242.13M | $29.8M | $25.12M | $0 | $0 |
| Long-Term Liabilities | |||||||||||
| Long-Term Debt | $54M | $58.81M | $40M | $10.03M | $48.99M | $24.12M | $0 | $7.57M | $7.57M | $0 | $0 |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $5.67M | $5.41M | $7.3M | $0 | $0 | $100.81M | $0 | $192.23M | $177.56M | $187.75M | $182.41M |
| Total Long-Term Liabilities | $59.67M | $64.22M | $47.3M | $10.03M | $48.99M | $124.93M | $0 | $199.8M | $185.13M | $187.75M | $167.28M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $754.68M | $737.7M | $721.74M | $674.18M | $667.12M | $769.84M | $242.13M | $229.6M | $210.25M | $187.75M | $182.41M |
| Stockholders' Equity | |||||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $61K | $64K | $64K | $66K | $69K | $69K | $77K | $75K | $75K | $0 | $0 |
| Retained Earnings | $76.11M | $76.79M | $71.34M | $65.36M | $58.22M | $50.65M | $47.56M | $46.9M | $45.48M | $45.08M | $43.92M |
| Comprehensive Income & Other | -$3.65M | -$5.71M | -$6.33M | -$6.66M | -$358K | $159K | $9K | -$3.41M | -$152K | $0 | $0 |
| Other Stockholders' Equity | $50.85M | $52.27M | $50.11M | $51.68M | $62.68M | $30.07M | $29.53M | $29.41M | $30.1M | $0 | $0 |
| Total Equity | $127.02M | $129.12M | $121.52M | $117.1M | $120.97M | $80.78M | $77.17M | $76.38M | $75.66M | $45.08M | $43.92M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $881.7M | $866.82M | $843.26M | $791.28M | $788.09M | $850.63M | $319.29M | $305.98M | $285.92M | $232.83M | $226.34M |
| Supplementary Data | |||||||||||
| Total Debt | $54M | $58.81M | $40M | $10.03M | $48.99M | $24.12M | $0 | $7.57M | $7.57M | $0 | $0 |
| Net Debt | $150K | $17.39M | -$10.03M | -$16.3M | -$62.79M | -$154.14M | -$48.12M | -$27.63M | $7.57M | -$24.81M | -$38.15M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-09-30 | 2016-09-30 | 2015-09-30 |
| Operating Activities | |||||||||||
| Net Income | $8.33M | $5.44M | $6.45M | $7.13M | $7.57M | $3.09M | $355K | $449K | $1.36M | $1.16M | $1.61M |
| Depreciation & Amortization | $720K | $738K | $734K | $338K | $674K | $697K | $885K | $702K | $444K | $347K | $302K |
| Deferred Income Tax | $60K | $162K | $399K | $280K | -$227K | -$73K | $145K | $1.44M | $0 | $0 | $0 |
| Stock-Based Compensation | $894K | $1.13M | $1.09M | $694K | $410K | $298K | $278K | $133K | $157K | $0 | $0 |
| Changes in Working Capital: | |||||||||||
| Accounts Receivable | -$36K | $731K | -$527K | -$716K | $2.76M | -$4.27M | $549K | -$409K | $262K | -$196K | -$119K |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Payable | $367K | -$2.11M | -$215K | -$936K | -$1.36M | -$321K | -$436K | $0 | $0 | $0 | $0 |
| Other Working Capital | $0 | $0 | $0 | $0 | $0 | -$321K | -$436K | -$899K | $354K | $326K | $211K |
| Total Working Capital Change | $331K | -$1.38M | -$742K | -$1.65M | $1.39M | -$4.59M | $113K | -$1.42M | $616K | $130K | $92K |
| Other Non-Cash Items | $1.3M | $691K | -$58K | $775K | $2.03M | $1.95M | -$140K | $683K | $438K | $329K | $861K |
| Net Cash from Operating | $11.64M | $6.79M | $7.87M | $7.57M | $11.85M | $1.37M | $1.64M | $2.33M | $3.1M | $1.93M | $2.87M |
| Investing Activities | |||||||||||
| Capital Expenditures | -$709K | -$422K | -$527K | -$1.39M | -$830K | -$451K | -$377K | -$8.29M | -$4.34M | -$381K | -$231K |
| Acquisitions | $0 | $0 | $0 | $0 | $0 | -$22.75M | $0 | $0 | $0 | $0 | $0 |
| Purchases of Investments | -$7.63M | -$741K | -$19.98M | -$38.23M | -$30.79M | -$15.29M | -$232K | -$10.32M | -$15.12M | $0 | -$2M |
| Sales of Investments | $35.31M | $19.67M | $6.2M | $6.86M | $4.49M | $11.81M | $19.49M | $2.19M | $7.37M | $0 | $1.5M |
| Other Investing Activities | -$28.2M | -$51.75M | -$13.82M | -$60.96M | $17.51M | -$83.7M | -$20.26M | -$10.49M | -$23.82M | -$19.36M | $4.79M |
| Net Cash from Investing | -$1.24M | -$33.24M | -$28.14M | -$93.72M | -$9.62M | -$110.38M | -$1.38M | -$26.69M | -$35.9M | -$19.74M | $4.06M |
| Financing Activities | |||||||||||
| Debt Repaid | $4.82M | -$14M | -$29.98M | $37.98M | $75.81M | -$90.81M | $7.57M | -$7.57M | - | - | - |
| Common Stock Issuance | $59K | $0 | $0 | $0 | $37.11M | $0 | $0 | $0 | $33.09M | $0 | $0 |
| Common Stock Repurchases | -$5.94M | $0 | -$3.28M | -$5.71M | $0 | $0 | -$600K | -$668K | $0 | $0 | $0 |
| Dividends Paid | -$8.8M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | $21.52M | -$962K | $17.27M | $44.38M | -$30M | $148.34M | $19M | $21.77M | $9.96M | $5.01M | -$2.58M |
| Net Cash from Financing | $2.02M | $17.85M | $43.97M | $701K | -$68.7M | $239.15M | $10.83M | $29.1M | $43.05M | $5.01M | -$2.58M |
| Forex Effect | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | $12.43M | -$8.6M | $23.7M | -$85.45M | -$66.48M | $130.14M | $11.09M | $4.85M | $10.25M | -$12.8M | $4.35M |
| Supplementary Data | |||||||||||
| Operating Cash Flow | $11.64M | $6.79M | $7.87M | $7.57M | $11.85M | $1.37M | $1.64M | $2.33M | $3.1M | $1.93M | $2.87M |
| Capital Expenditure | -$422K | -$422K | -$527K | -$1.39M | -$830K | -$451K | -$377K | -$8.29M | -$4.34M | -$381K | -$231K |
| Free Cash Flow | $11.22M | $6.37M | $7.34M | $6.17M | $11.02M | $920K | $1.26M | -$5.96M | -$1.24M | $1.54M | $2.64M |
| Cash at Beginning | $41.42M | $50.03M | $26.32M | $111.78M | $178.25M | $48.12M | $37.03M | $35.94M | $25.69M | $38.49M | $34.14M |
| Cash at End | $53.85M | $41.42M | $50.02M | $26.32M | $111.78M | $178.25M | $48.12M | $40.8M | $35.94M | $25.69M | $38.49M |