Welcome to our dedicated page for 1St Colonial Ban news (Ticker: FCOB), a resource for investors and traders seeking the latest updates and insights on 1St Colonial Ban stock.
1St Colonial Bancorp (FCOB) provides essential banking services to New Jersey communities through deposit solutions, commercial lending, and digital banking tools. This page serves as the definitive source for all official company announcements and financial developments.
Investors and stakeholders will find timely updates on earnings reports, strategic initiatives, and leadership changes. Our curated collection includes press releases about new product launches, regulatory filings, and community impact programs – all critical for assessing the bank’s market position.
Key coverage areas include quarterly financial results, mergers and acquisitions, executive appointments, and innovations in consumer banking services. Bookmark this page to monitor how FCOB continues to strengthen its role in regional economic growth while maintaining traditional banking values.
1st Colonial Bancorp (FCOB) reported Q1 2025 net income of $1.7 million, or $0.34 per diluted share, marking a 5% increase from Q1 2024. Net interest income reached $6.6 million, up 5% year-over-year, while noninterest income grew 22% to $878 thousand.
Key financial metrics include: total assets grew 3% to $868.5 million, total loans increased 1% to $627.0 million, and deposits rose 1% to $757.4 million compared to December 2024. The bank's net interest margin slightly decreased to 3.27% from 3.29% in Q1 2024. Book value per share improved 3% to $16.70, while maintaining strong capital ratios with a leverage ratio of 10.68%.
The company initiated a stock repurchase program, buying back 54,303 shares for $811 thousand during Q1 2025.
1st Colonial Bancorp (FCOB) has announced a stock repurchase program effective January 30, 2025, authorizing management to repurchase up to 3% of outstanding shares with a maximum cost of $2.0 million. The company currently has 4,835,906 shares outstanding.
The program allows for repurchases through open market or private transactions, subject to Rule 10b-18 regulations and securities laws. The timing, volume, and nature of purchases will be at management's discretion based on market conditions and company interests. A Rule 10b5-1 trading plan may be implemented to facilitate repurchases during blackout periods.
CEO Robert White stated the buyback reflects confidence in the company's future, citing strong earnings performance that enables share repurchases while maintaining robust capital levels and improving shareholder returns.
1st Colonial Bancorp (FCOB) reported strong Q4 2024 results with net income of $2.7 million ($0.55 per diluted share), up 46% from Q3 2024 and 26% from Q4 2023. Full-year 2024 net income reached $8.1 million ($1.64 per diluted share), an 8% increase from 2023.
Key highlights include: net interest margin improvement to 3.29% in Q4 2024, total assets growth of 3% to $841.5 million, and total deposits increase of 7% to $747.7 million. Non-interest income grew 59% year-over-year in Q4, driven by improved residential mortgage production.
The bank's capital position remained strong with a leverage ratio of 10.68% and book value per share increased 13% year-over-year to $16.20. Asset quality improved with non-performing assets ratio decreasing to 0.20% from 0.59% year-over-year.
1st Colonial Bancorp, Inc. (FCOB) reported net income of $1.8 million for Q3 2024, consistent with Q3 2023 and down $115 thousand from Q2 2024. Net interest income was $6.2 million, a 7% decrease from Q3 2023. The net interest margin for Q3 2024 was 3.16%, down 8% year-over-year but up 2% from Q2 2024. Provision for credit losses was $82 thousand, down from $126 thousand in Q3 2023. Noninterest income increased by 3% year-over-year to $944 thousand, while noninterest expense decreased by 7% to $4.6 million. Annualized return on average assets was 0.91%, and return on average equity was 9.91%. Total assets were $815.3 million, down 1% from December 2023. Total loans declined by $12.9 million, while total deposits grew by $11.7 million. Book value per share increased by 10% to $15.76. The company highlighted improved net interest margin, strong asset quality, and ongoing cost management.
1st Colonial Bancorp (FCOB) reported net income of $2 million for Q2 2024, consistent with Q2 2023. Earnings per diluted share were $0.40, slightly down from $0.41 in Q2 2023. Net interest income decreased by 15% to $5.9 million, while noninterest income rose 39% to $969 thousand. Provision for credit losses was a net release of $439 thousand, partly due to a planned loan sale. Noninterest expense decreased by 2% to $4.8 million.
Total assets declined 2% to $811.2 million, and total loans fell by $14.3 million to $622.7 million. Deposits decreased 5% to $651.9 million. Book value per share rose by 14% to $15.09. The bank's leverage ratio improved to 10.55%. CEO Robert White highlighted the bank's resilience amidst higher interest rates and ongoing focus on cost management and asset quality.
Annualized return on average assets was 1.00%, and return on average equity was 11.10%. The net interest margin decreased to 3.11%. Home equity loans and lines declined by $15.3 million, while commercial loans increased by $2.0 million in Q2 2024.
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