First National Financial Corporation Reports Fourth Quarter, Annual 2025 Financial Results

TORONTO, March 3, 2026 /CNW/ - First National Financial Corporation (TSX: FN.PR.A) (TSX: FN.PR.B) (the "Company" or "FNFC") today announced its financial results for the three and twelve months ended December 31, 2025.

2025 Financial results

In 2025, the Company earned net income of $126.9 million. For the fourth quarter of 2025 the Company recorded a loss of $34.7 million. The full year's and fourth quarter's results were unfavorably affected by costs related to the "go-private" transaction (the "transaction") which closed on October 22, 2025. These costs include the amortization of fair value adjustments to tangible assets, the amortization of intangible assets as well as advisory, legal and other costs associated with the transaction. A consequence of the transaction was to adjust some net tangible assets to fair value as well as to establish new intangible assets. This was the result of the purchase consideration of the transaction exceeding the net book value of common shareholders' equity at the time of the acquisition. The increased carrying value of tangible assets and the new intangible assets are being amortized over their expected useful life. In the fourth quarter of 2025, this amortization was approximately $52.1 million which reduced the Company's earnings. Another impact of the acquisition was the incurrence of advisory, structuring and other one-time costs related to the acquisition. These costs totaled about $35.8 million which were expensed in the fourth quarter.

Detailed Operating Results

For more information on the Company's operating results, please refer to the Company's Management's Discussion & Analysis as posted on SEDAR+ and available at www.sedarplus.com. This Press Release, as well as the Company's full year 2025 audited consolidated interim Financial Statements and Management's Discussion & Analysis are also posted on the Investor section of the Company's website, www.firstnational.ca. Investors are encouraged to review all of these materials.

About First National Financial Corporation

First National Financial Corporation (TSX:FN.PR.A, TSX:FN.PR.B) is the parent company of First National Financial LP, a Canadian-based originator, underwriter and servicer of predominantly prime residential (single-family and multi-unit) and commercial mortgages. With more than $165 billion in mortgages under administration, First National is one of Canada's largest non-bank mortgage originators and underwriters and is among the top three in market share in the mortgage broker distribution channel.  For more information, please visit www.firstnational.ca.

SOURCE First National Financial Corporation

For further information: Robert Inglis, Chief Financial Officer, First National Financial Corporation, Tel: [phone], Email: [email protected]