SCHEDULE 13G: Delaware Charter Guarantee & Trust Company Reports 9.5% Stake in FB Bancorp Inc.

Delaware Charter Guarantee & Trust Company, as trustee for Fidelity Bank's employee benefit plans, has reported a 9.5% beneficial ownership stake in FB Bancorp Inc. as of December 31, 2024.

Summary

• Delaware Charter Guarantee & Trust Company, acting as Directed Trustee for the Fidelity Bank 401(k) Retirement Plan and the Fidelity Bank Employee Stock Ownership Plan, filed a Schedule 13G.
• As of December 31, 2024, the Trust beneficially owned an aggregate of 1,877,127 shares of FB Bancorp Inc. common stock.
• This ownership represents 9.5% of FB Bancorp Inc.'s outstanding common stock.
• The shares include 290,127 shares with sole voting power and 1,587,000 shares with shared voting power.
• All 1,877,127 shares are under shared dispositive power, while the Trustee holds no sole dispositive power.
• The Trustee disclaims beneficial ownership of the shares, stating they are held on behalf of numerous plan participants.
• The securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.

Sentiment

Score: 5

Explanation: Neutral. This is a factual disclosure of beneficial ownership and does not contain information that would inherently indicate positive or negative sentiment regarding the company's performance or prospects.

Risks

• The Trustee disclaims beneficial ownership of the shares, indicating that control and economic interest primarily reside with the plan participants, which could affect how the stake is perceived in terms of active management or influence.

Future Outlook

NA

Management Comments

• "The Trustee disclaims beneficial ownership of the shares of common stock that are the subject of this Schedule 13G."
• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11."

Industry Context

This filing is a routine disclosure of a significant passive ownership stake by an employee benefit plan trustee in a financial institution, common for companies with employee stock ownership plans. It reflects internal employee investment rather than an external strategic investment.

Comparison to Industry Standards

• NA This document is a beneficial ownership report and does not contain performance metrics for comparison.

Stakeholder Impact

• Shareholders: Provides transparency regarding a significant institutional ownership stake, specifically by employee benefit plans, which can indicate long-term employee alignment with company performance.
• Employees: Confirms the existence and holdings of employee benefit plans (401(k) and ESOP) in the company's stock, directly linking employee retirement savings to the company's value.

Key Dates

Keywords

FB Bancorp Inc., Delaware Charter Guarantee & Trust Company, Principal Trust Company, Fidelity Bank, 401(k) Retirement Plan, Employee Stock Ownership Plan, ESOP, Schedule 13G, Beneficial Ownership, Common Stock, SEC Filing, Institutional Ownership, Trustee