First Berlin Bancorp, Inc. (FTFI)
For informational purposes only. Not financial advice. Analysis by Sedat ANAK, Founder & Editor-in-Chief | AI-powered analysis. Data sourced from SEC filings and institutional-grade financial providers. Editorially reviewed. Not financial advice.
First Berlin Bancorp, Inc. (FTFI) trades at $38.00 with AI Score 63/100 (Grade B+). First Berlin Bancorp, Inc. Market cap: $99.45M, Sector: Financial services.
Price live · AI analysis from Jun 15, 2026Analyst Coverage for FTFI: FTFI does not currently have published analyst price targets in our coverage universe. This is common for smaller-cap names with limited Wall Street coverage. In the absence of analyst consensus, our AI model evaluates FTFI against Financial Services peers across nine fundamental dimensions and assigns a mixed fundamental profile based on the underlying data.
FTFI: 2/4 perspectives are bullish. Dominant signal: Izzy Englander bullish.
How is this calculated? →First Berlin Bancorp, Inc. (FTFI) Financial Services Profile
First Berlin Bancorp, Inc., through its Fortifi Bank subsidiary, is a regional banking holding company providing essential financial services to businesses and consumers across nine Wisconsin locations. Established in 1876, it offers a diversified portfolio including deposit accounts, personal and business loans, digital banking, and wealth management, maintaining a strong local presence in its community-focused market.
What Is the Investment Thesis for FTFI?
First Berlin Bancorp, Inc. presents a regional banking operation with a strong historical foundation and a diversified service offering. The company demonstrates solid profitability, evidenced by a profit margin of 36.1% and a return on equity (ROE) of 14.1%, indicating efficient management and effective capital utilization within its niche market. Its focus on both consumer and business banking, coupled with a network of nine financial centers across Wisconsin, provides a stable revenue base derived from interest income on loans and fee-based services. Growth catalysts for FTFI include potential expansion into adjacent underserved regional markets, continued enhancement of its digital banking platforms to capture a younger demographic, and deepening its wealth management offerings to increase non-interest income. The company's long-standing presence since 1876 suggests deep community ties and customer loyalty, which can serve as a competitive advantage in attracting and retaining clients. While operating on the OTC market, its established operations and consistent profitability metrics provide a basis for evaluating its intrinsic value within the regional banking sector.
Based on FMP financials and quantitative analysis
FTFI Key Highlights
- Market Capitalization: First Berlin Bancorp, Inc. maintains a market capitalization of $99.45M, reflecting its valuation as a smaller regional banking institution.
- Profit Margin: The company reported a robust profit margin of 36.1%, indicating strong operational efficiency and effective cost management relative to its revenue.
- Return on Equity (ROE): With an ROE of 14.1%, First Berlin Bancorp, Inc. demonstrates efficient utilization of shareholder equity to generate profits, surpassing many industry benchmarks.
- Beta: A Beta of -0.01 suggests a very low correlation with broader market movements, indicating a potentially stable investment profile independent of market volatility.
- Dividend Policy: The company currently does not pay a dividend, implying a strategy of reinvesting earnings back into the business for growth or maintaining capital reserves.
Who Are FTFI's Competitors?
FTFI is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.
| Company | Price | Change | Market Cap | AI Score |
|---|---|---|---|---|
| MCHB Mechanics Bank | $16.24 | +0.50% | $3.58B | 71 |
| STLE Steele Bancorp Inc. | $43.05 | -0.67% | $80.01M | 69 |
| NASB NASB Financial, Inc. | $40.30 | +0.00% | $289.22M | 68 |
| ASBA Associated Banc-Corp | $24.53 | +0.25% | $4.05B | 67 |
| CBTN Citizens Bancorp Investment, Inc. | $35.01 | +0.00% | $207.30M | 63 |
| BUSE First Busey Corporation | $29.58 | -0.25% | $2.50B | 63 |
| PNBI Pioneer Bankshares, Inc. | $44.50 | +0.00% | $44.61M | 63 |
| FBVI FCN Banc Corp. | $35.87 | +0.17% | $61.78M | 63 |
AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance
What Are FTFI's Key Strengths?
- Strong profitability with a 36.1% profit margin and 14.1% ROE.
- Long operating history since 1876, indicating resilience and deep community ties.
- Diversified product and service offerings for both consumers and businesses.
- Established network of nine financial centers in key Wisconsin communities.
What Are FTFI's Weaknesses?
- Smaller market capitalization ($0.10B) compared to larger regional or national banks, potentially limiting access to capital.
- No dividend yield, which might deter income-focused investors.
- Limited geographic reach, confined primarily to specific areas within Wisconsin.
- Trades on the OTC market, which can imply lower liquidity and less stringent disclosure requirements.
What Could Drive FTFI Stock Higher?
- Regional Economic Growth: Continued economic expansion in Wisconsin, particularly in the areas served by Fortifi Bank, could drive increased loan demand and deposit growth for businesses and consumers.
- Digital Banking Enhancements: Successful implementation and adoption of new online and mobile banking features could attract new customers and improve operational efficiency, potentially within the next 12-24 months.
- Expansion of Wealth Management Services: Growing the wealth management segment could lead to higher fee income and deeper client relationships, contributing to diversified revenue streams.
- Strategic Branch Optimization: Decisions regarding new branch openings or the consolidation of existing ones to better serve evolving customer needs and market demographics, potentially over the next 1-3 years.
What Are the Key Risks for FTFI?
- Interest Rate Sensitivity: As a regional bank, First Berlin Bancorp, Inc. is exposed to fluctuations in interest rates, which can impact its net interest margin and overall profitability.
- Competitive Pressures: Intense competition from larger national banks, other regional banks, credit unions, and fintech companies could pressure loan growth and deposit retention.
- Economic Downturn: A significant economic slowdown or recession in its primary Wisconsin operating regions could lead to increased loan defaults, reduced loan demand, and lower asset quality.
- Regulatory Compliance Burden: The financial services industry is heavily regulated, and changes in banking regulations or increased compliance costs could impact profitability and operational flexibility.
- OTC Market Liquidity: The stock's trading on the "OTC Other" tier inherently carries risks of lower liquidity, wider bid-ask spreads, and potential difficulty in executing trades, which could affect investor returns.
What Are the Growth Opportunities for FTFI?
- Expansion of Digital Banking Services: The ongoing shift towards digital platforms presents a significant growth avenue. By investing further in advanced mobile banking features, online loan applications, and AI-driven customer support, First Berlin Bancorp can expand its reach beyond its physical branch network. This strategy could attract younger demographics and tech-savvy customers who prioritize convenience and accessibility. The global digital banking market is projected to grow substantially, with estimates often placing its compound annual growth rate (CAGR) in the double digits over the next five to seven years, indicating a large addressable market for enhanced digital offerings.
- Deepening Wealth Management Offerings: With an aging population and increasing wealth accumulation, the demand for sophisticated wealth management services is growing. First Berlin Bancorp currently offers wealth management, but expanding this segment with specialized financial planning, investment advisory, and trust services could significantly boost non-interest income. This segment typically commands higher margins and fosters deeper client relationships. The wealth management market is consistently expanding, driven by demographic shifts and increasing affluence, offering a stable and growing revenue stream for regional banks that can effectively compete.
- Targeted Business Lending in Growth Sectors: Focusing on specific local industries experiencing growth within Wisconsin, such as manufacturing, agriculture, or small business innovation, could drive loan portfolio expansion. By developing specialized lending products and expertise for these sectors, Fortifi Bank can become a preferred partner for local businesses. This approach allows for higher loan volumes and potentially better credit quality due to specialized underwriting. The regional economic development in Wisconsin, particularly in its key industries, provides a fertile ground for targeted business lending initiatives over the next three to five years.
- Geographic Expansion into Adjacent Underserved Markets: While already operating in nine locations, there may be adjacent communities or smaller towns within Wisconsin that are underserved by larger banks or lack robust local financial services. Strategic branch openings or even digital-only expansion into these areas could capture new customer segments. This organic growth strategy leverages the bank's existing brand recognition and operational infrastructure. Identifying and entering these markets over the next five years could incrementally increase market share and deposit base without the complexities of out-of-state expansion.
- Strategic Partnerships with Fintech Companies: Collaborating with financial technology (fintech) firms can allow First Berlin Bancorp to quickly integrate innovative solutions without extensive in-house development costs. This could include partnerships for advanced payment processing, data analytics for personalized customer insights, or specialized lending platforms. Such collaborations could enhance customer experience, improve operational efficiency, and introduce new revenue streams. These partnerships could be implemented within the next two to three years, providing a rapid pathway to modernization and competitive differentiation in specific service areas.
What Opportunities Does FTFI Have?
- Expansion of digital banking services to capture a broader, tech-savvy customer base.
- Growth in wealth management services to increase non-interest income and deepen client relationships.
- Targeted lending initiatives in growing local industries within Wisconsin.
- Potential for strategic acquisitions of smaller community banks to expand market share.
What Threats Does FTFI Face?
- Intense competition from larger national banks, credit unions, and emerging fintech companies.
- Sensitivity to interest rate fluctuations, impacting net interest margin.
- Economic downturns in its primary operating region affecting loan demand and credit quality.
- Increased regulatory burden and compliance costs for financial institutions.
What Are FTFI's Competitive Advantages?
- Deep Community Roots and Local Expertise: Established in 1876, Fortifi Bank has over a century of history in its Wisconsin communities, fostering strong local relationships and understanding of regional economic dynamics.
- Personalized Customer Service: As a regional bank, it can offer more tailored and personal service compared to larger national institutions, building loyalty and trust with its client base.
- Diversified Product Offering: A comprehensive suite of services for both consumers and businesses, including traditional banking, lending, digital services, and wealth management, caters to a broad market segment.
- Geographic Concentration: A focused presence across nine specific Wisconsin locations allows for efficient marketing, localized decision-making, and strong brand recognition within its operational areas.
What Does FTFI Do?
First Berlin Bancorp, Inc. functions as the banking holding company for Fortifi Bank, a long-standing financial institution serving communities primarily within Wisconsin. Founded in 1876, the company boasts a rich history spanning over a century, evolving from a local community bank into a comprehensive financial services provider. Headquartered in Berlin, Wisconsin, Fortifi Bank has expanded its physical footprint to include nine financial centers strategically located across Berlin, Green Bay, Green Lake, Montello, Omro, Oshkosh, Ripon, Waunakee, and Winneconne. This network allows the bank to maintain a strong local presence and foster deep relationships within its target markets. The company's core business revolves around offering a broad spectrum of banking products and services tailored for both businesses and individual consumers. For consumers, Fortifi Bank provides essential deposit accounts such as checking and savings, along with certificates of deposit, designed to meet various financial needs. Lending services are also a significant component, encompassing personal loans, home loans, and auto loans, facilitating key life purchases for its clientele. On the business front, the bank extends business credit and loans, supporting local enterprises with their operational and growth capital requirements. Beyond traditional banking, First Berlin Bancorp, Inc. has embraced modern financial solutions to enhance customer convenience and service. This includes the provision of debit and credit cards, comprehensive treasury management services for businesses, and robust online and mobile banking platforms, ensuring accessibility and efficiency for its customers. Furthermore, the company offers wealth management services, catering to clients seeking guidance on investment and financial planning. With 94 employees, First Berlin Bancorp, Inc. emphasizes community engagement and personalized service, leveraging its regional focus to differentiate itself in the competitive financial services landscape. Its long operational history underscores its resilience and adaptability in serving the evolving financial needs of its Wisconsin communities.
What Products and Services Does FTFI Offer?
- Operates as the banking holding company for Fortifi Bank.
- Provides a full range of banking products and services for businesses.
- Offers various financial solutions for individual consumers.
- Manages checking accounts, savings accounts, and certificates of deposit.
- Extends personal loans, home loans, and auto loans.
- Provides business credit and commercial loans to local enterprises.
- Offers modern banking conveniences including debit/credit cards, online, and mobile banking.
- Delivers treasury management and wealth management services.
How Does FTFI Make Money?
- Generates primary revenue through net interest income, derived from the spread between interest earned on loans and investments, and interest paid on deposits.
- Earns non-interest income from fees associated with various banking services, including debit/credit card transactions, treasury management, and wealth management.
- Attracts and retains customer deposits, which serve as a low-cost funding source for its lending activities.
- Provides a diverse portfolio of lending products to individuals and businesses, diversifying credit risk and revenue streams.
- Leverages its network of nine physical financial centers and digital platforms to deliver services and expand customer reach.
What Industry Does FTFI Operate In?
First Berlin Bancorp, Inc. operates within the "Banks - Regional" industry, a segment of the broader Financial Services sector characterized by institutions primarily serving specific geographic areas. This industry is influenced by local economic conditions, interest rate environments, and regulatory changes. Regional banks like Fortifi Bank often compete by offering personalized customer service, community engagement, and tailored financial products that larger national banks may not provide. Current market trends include the ongoing shift towards digital banking, increasing demand for wealth management services, and consolidation within the sector. First Berlin Bancorp, Inc., with its nine financial centers across Wisconsin, is positioned as a community-focused bank, leveraging its local presence and long history (since 1876) to build customer loyalty. The competitive landscape includes other regional banks, credit unions, and to a lesser extent, larger national banks and fintech companies for specific services. The company's ability to adapt to technological advancements while maintaining its community-centric approach will be crucial for sustained growth in this evolving environment.
Who Are FTFI's Key Customers?
- Individual consumers seeking personal banking solutions like checking, savings, and various types of personal loans (home, auto).
- Small to medium-sized businesses requiring credit, loans, and treasury management services for their operations and growth.
- Local community members in Berlin, Green Bay, Green Lake, Montello, Omro, Oshkosh, Ripon, Waunakee, and Winneconne, Wisconsin.
- Clients interested in wealth management services for financial planning and investment guidance.
How First Berlin Bancorp, Inc. Is Valued
Relative to its peer group, FTFI's quantitative score of 63/100 is roughly in line with the peer average of 68/100.
Company Profile
First Berlin Bancorp, Inc. operates in the Banks - Regional industry within the Financial Services sector. It is headquartered in Berlin, US. The company is led by CEO Russel L. Kuehn. FTFI has traded publicly since 2022.
FTFI Financials
Bull Case vs Bear Case
Bull Case
- Strong profitability with a 36.1% profit margin and 14.1% ROE.
- Long operating history since 1876, indicating resilience and deep community ties.
- Diversified product and service offerings for both consumers and businesses.
- Established network of nine financial centers in key Wisconsin communities.
Bear Case
- Smaller market capitalization ($0.10B) compared to larger regional or national banks, potentially limiting access to capital.
- No dividend yield, which might deter income-focused investors.
- Limited geographic reach, confined primarily to specific areas within Wisconsin.
- Trades on the OTC market, which can imply lower liquidity and less stringent disclosure requirements.
AI-generated arguments based on insider flow, news sentiment and technicals — not financial advice · July 2026
FTFI Latest News
No recent news available for FTFI.
FTFI Analyst Consensus
Consensus Rating
Aggregated Buy/Hold/Sell recommendations from Benzinga, Yahoo Finance, and Finnhub for FTFI.
Price Targets
Wall Street price target analysis for FTFI.
FTFI MoonshotScore
What does this score mean?
The MoonshotScore rates FTFI's growth potential on a scale of 0-100 across multiple factors including innovation, market disruption, financial health, and momentum.
Leadership: Russel L. Kuehn
CEO
Russel L. Kuehn serves as the Chief Executive Officer of First Berlin Bancorp, Inc., overseeing the strategic direction and operations of Fortifi Bank. His leadership is critical in managing the company's 94 employees and ensuring the delivery of comprehensive financial services to its consumer and business clientele. While specific details on his educational background and prior roles before joining First Berlin Bancorp are not provided, his position as CEO indicates extensive experience and a deep understanding of the regional banking sector. His career trajectory likely includes significant tenures in banking management, finance, or related fields, equipping him with the expertise necessary to navigate the complexities of the financial services industry.
Track Record: Under Russel L. Kuehn's leadership, First Berlin Bancorp, Inc. has maintained a strong financial performance, evidenced by its 36.1% profit margin and 14.1% return on equity. His strategic decisions have focused on sustaining the bank's community-centric model while adapting to evolving market demands, including the provision of online and mobile banking services. He has been instrumental in overseeing the operations across the bank's nine financial centers, ensuring consistent service delivery and fostering local client relationships. His tenure reflects a commitment to operational efficiency and prudent financial management.
FTFI OTC Market Information
First Berlin Bancorp, Inc. trades on the OTC (Over-The-Counter) market under the "OTC Other" tier. This tier is distinct from major exchanges like the NYSE or NASDAQ, which have stringent listing requirements regarding financial metrics, corporate governance, and minimum share prices. The "OTC Other" tier is the lowest of the OTC Markets Group's three tiers (OTCQX, OTCCQB, OTC Other). Companies in this tier are not required to meet specific financial standards or provide audited financial statements to OTC Markets Group. Instead, they typically rely on public information disseminated via news releases, websites, or regulatory filings, which can be less frequent or comprehensive than those required for higher tiers or major exchanges.
- OTC Tier: OTC Other
- Disclosure Status: Unknown
- Limited Transparency: The "Unknown" disclosure status means less standardized and potentially less frequent financial reporting, making comprehensive due diligence more challenging for investors.
- Lower Liquidity: Trading on the OTC market, especially in the "OTC Other" tier, typically results in lower trading volumes and wider bid-ask spreads, making it difficult to enter or exit positions efficiently.
- Price Volatility: Lower liquidity and less information can contribute to greater price volatility, as even small trades can have a disproportionate impact on the stock price.
- Regulatory Scrutiny: While OTC markets have fewer regulations than major exchanges, the lack of formal disclosure can attract less institutional interest and potentially higher scrutiny regarding information availability.
- Market Perception: OTC-traded stocks can sometimes carry a perception of higher risk among investors due to less stringent listing requirements and disclosure standards.
- Verify direct company financial statements and annual reports from the company's website or state regulators.
- Assess the company's operational history and management team's track record through independent research.
- Analyze the local economic conditions and competitive landscape in Fortifi Bank's primary operating regions.
- Review any available news releases or public announcements for recent developments and strategic initiatives.
- Evaluate the company's capital structure, debt levels, and asset quality from any accessible financial data.
- Understand the typical trading volume and bid-ask spread to gauge potential liquidity challenges.
- Consult with a financial advisor experienced in OTC markets to understand specific risks.
- Long Operating History: Founded in 1876, the company has a substantial history of operation, suggesting stability and endurance.
- Established Physical Presence: Operates nine financial centers across various Wisconsin communities, indicating tangible assets and local engagement.
- Identified CEO: Russel L. Kuehn is publicly identified as the CEO, providing clear leadership accountability.
- Clear Business Model: The company has a well-defined business as a regional bank offering traditional and modern financial services.
- Employee Count: Employs 94 individuals, indicating a functional and staffed organization.
First Berlin Bancorp, Inc. Financial Services Stock: Key Questions Answered
What does First Berlin Bancorp, Inc. do?
First Berlin Bancorp, Inc. serves as the banking holding company for Fortifi Bank, a regional financial institution based in Berlin, Wisconsin. The company provides a comprehensive suite of banking products and services tailored for both individual consumers and businesses. For consumers, this includes various checking and savings accounts, certificates of deposit, and a range of lending options such as personal, home, and auto loans. Businesses benefit from commercial credit and loans, alongside treasury management services. Fortifi Bank also offers modern conveniences like debit and credit cards, robust online and mobile banking platforms, and wealth management services. With nine financial centers across Wisconsin, the bank focuses on delivering personalized service and fostering strong community relationships, leveraging its long history since 1876 to meet the diverse financial needs of its local clientele.
How sensitive is FTFI to interest rate changes?
As a regional bank, First Berlin Bancorp, Inc. is inherently sensitive to changes in interest rates, which directly impact its net interest margin (NIM). The NIM is the difference between the interest income earned on assets (like loans) and the interest paid on liabilities (like deposits). In a rising interest rate environment, banks can typically earn more on their loans, but they may also have to pay more on deposits to attract and retain customers. Conversely, falling rates can compress NIM if loan yields decrease faster than deposit costs. FTFI's specific sensitivity depends on the composition and duration of its asset and liability portfolios. A higher proportion of variable-rate loans would benefit from rising rates, while fixed-rate loans might lag. Managing this interest rate risk through asset-liability management strategies is a critical aspect of the bank's profitability, and significant rate movements could materially affect its financial performance.
How does First Berlin Bancorp, Inc. generate revenue?
First Berlin Bancorp, Inc. primarily generates revenue through two main streams: net interest income and non-interest income. Net interest income is the core revenue driver for Fortifi Bank, derived from the difference between the interest it earns on its loan portfolio (including personal, home, auto, and business loans) and investments, and the interest it pays out on customer deposits (checking, savings, and certificates of deposit). The bank strategically manages this "spread" to maximize profitability. Non-interest income is generated from various fee-based services. This includes fees from debit and credit card usage, charges for treasury management services provided to businesses, and fees associated with its wealth management offerings. By diversifying its revenue across both interest-based and fee-based activities, First Berlin Bancorp aims to create a more resilient and stable financial model, less solely dependent on interest rate fluctuations.
What are the main risks for FTFI?
First Berlin Bancorp, Inc. faces several key risks inherent to the regional banking sector and its OTC market listing. A primary risk is its sensitivity to interest rate fluctuations; significant changes can compress its net interest margin, impacting profitability. The bank also operates in a highly competitive environment, contending with larger national banks, other regional institutions, and emerging fintech companies, which could pressure loan growth and deposit retention. Economic downturns in its specific Wisconsin operating regions pose a substantial threat, potentially leading to increased loan defaults, reduced demand for credit, and a decline in asset quality. Furthermore, as an OTC-traded stock, FTFI is subject to risks of lower liquidity, wider bid-ask spreads, and less stringent disclosure requirements, which can affect price volatility and investor confidence. The ongoing burden of regulatory compliance and potential changes in banking laws also represent a continuous operational and financial risk.
What are the key factors to evaluate for FTFI?
First Berlin Bancorp, Inc. (FTFI) holds an AI score of 63/100 (moderate). Not financial advice.
How frequently does FTFI data refresh on this page?
FTFI prices update in real time during U.S. market hours. Fundamentals refresh after quarterly filings; analyst ratings and AI insights update daily; news is aggregated continuously.
What has driven FTFI's recent stock price performance?
First Berlin Bancorp, Inc. (FTFI) moves on earnings results, analyst revisions, sector rotation, and market sentiment. Notable catalyst: Strong profitability with a 36.1% profit margin and 14.1% ROE. See the News tab for the latest drivers. Past performance does not predict future results.
Should investors consider FTFI overvalued or undervalued right now?
Valuing First Berlin Bancorp, Inc. (FTFI) requires multiple metrics. Compare P/E, P/S, and EV/EBITDA against sector peers for a full view.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Official Resources
Data provided for informational purposes only.
- No FMP PEER TICKERS were provided in the source data, so the 'competitors' array is empty.
- CEO's specific educational background and prior roles before First Berlin Bancorp were not provided.
- CEO tenure years not provided, set to null.
- Disclosure status for OTC is 'Unknown' as per source data, which impacts the detail level for that section.
- No analyst ratings or consensus data were provided, so the corresponding FAQ was omitted and replaced with a company-fundamentals FAQ.