1St Colonial Ban Stock Price, News & Analysis

1st Colonial Bancorp (FCOB) reported a net income of $2.3 million for Q4 2022, a 34% increase year-over-year. For the full year, net income rose 17% to $8.5 million. Net interest income for Q4 was $7.3 million, up 20%, with an annual total of $26 million, reflecting a 19% increase. The return on average assets improved to 1.21%, and return on average equity reached 15.86%. However, non-interest income fell 60% in Q4 and 41.3% for 2022 due to reduced mortgage activity. Deposits increased 10% year-over-year, while total assets grew by 15% to $782 million.

1st Colonial Bancorp reported a net income of $2.6 million for Q3 2022, marking an 18% increase year-over-year and a 30% rise from Q2 2022. Total revenues decreased by 3% to $8.3 million. Net interest income rose 14% to $6.9 million, with a net interest margin of 3.76%. Total assets increased 4% to $763.8 million, and total loans grew 5% to $587 million. Despite improvements in income metrics and efficiency, challenges persist due to rising interest rates and competition impacting margins. Overall, the firm emphasizes maintaining asset quality amidst economic pressures.

1st Colonial Bancorp, Inc. (FCOB) reported a net income of $2.0 million for Q2 2022, marking a 15% increase year-on-year. Net interest income rose to $6.1 million, a 22% increase, while total revenues reached $7.9 million, up 9% from Q2 2021. Total assets grew by 5% to $735.0 million, with total loans increasing by 5% to $560.9 million. The efficiency ratio improved to 62.5%. However, non-interest income fell by 20.2% to $1.8 million. The company remains cautious about future loan demand due to economic challenges and rising interest rates.

1st Colonial Bancorp (FCOB) reported a net income of $1.7 million, or $0.34 per diluted share, for Q1 2022, consistent with Q1 2021 results. Net interest income rose 21% to $5.8 million, driven by a $78.5 million increase in average loans. The net interest margin improved to 3.46%, up from 3.12% the previous year. Total assets grew 2% to $697.8 million, while total loans increased 6.6% to $535.2 million. Non-interest income declined 43% to $1.5 million, primarily due to decreased mortgage origination income. The efficiency ratio improved to 63%, down from 65% in Q1 2021.

1st Colonial Bancorp (FCOB) reported a net income of $1.7 million, or $0.35 per diluted share, for Q4 2021, down from $2.2 million, or $0.44 per diluted share, in Q4 2020. Full-year net income rose to $7.3 million, yielding a diluted EPS of $1.47, a 54% increase year-over-year. Total assets reached $682.8 million, with loans increasing 18.6% to $501.9 million. The efficiency ratio improved to 62.5%, and return on average equity was 13.14%. Non-interest income surged 59% to $9.5 million, driven by gains in residential mortgages and SBA loans.

1st Colonial Bancorp, Inc. (FCOB) announced a stock repurchase program effective November 22, 2021, allowing the company to buy back up to 4% of its outstanding shares, totaling a maximum of $2.0 million. With 4,834,532 shares currently outstanding, the buyback reflects management's confidence in the company's prospects, as the stock trades below its tangible book value per share. The program is discretionary, with the Board able to modify or terminate it at any time. Repurchases may be made in open market or private transactions, adhering to relevant regulations.

1st Colonial Bancorp (FCOB) reported strong financial results for Q3 2021, with net income reaching $2.2 million or $0.44 per diluted share, up 64% from Q3 2020. Total revenues increased by 34% to $8.5 million. Net interest income grew 31% to $6.0 million, while non-interest income rose 45% to $2.5 million. The efficiency ratio improved from 65% to 59% year-over-year. Total assets increased to $684.2 million, driven by a $90.1 million rise in loans. Tangible book value per share climbed 15% to $11.88. Non-performing assets decreased by 17% to $4.0 million.

1st Colonial Bancorp, Inc. (FCOB) announces the appointment of Shelley Simms and Thomas Brugger to its Board of Directors. Shelley Simms serves as General Counsel and Chief Compliance Officer at Xponance and has prior legal experience with ARAMARK and Comcast, along with a Harvard Law School education. Thomas Brugger has over 30 years in banking, most recently as CFO of Orrstown Bank. His past includes CFO roles at Sun National Bank and Customers Bank. The company aims to leverage their expertise to drive growth.

1st Colonial Bancorp (FCOB) reported a net income of $1.7 million for Q2 2021, up from $1.2 million in Q2 2020, reflecting a 41.7% increase year-over-year. Net interest income rose to $5.0 million, driven by a $907 thousand increase in interest income and improved net interest margin of 3.09%. Non-interest income also surged by 82.4% to $2.3 million. However, non-interest expenses increased by 29.8% to $4.7 million, mainly due to higher personnel costs. Total assets grew 7.7% to $685.1 million, with loans up 17.2%.