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, Inc. reports developments as the bank holding company for 1st Colonial Community Bank, a community bank offering business and consumer financial services in New Jersey and Pennsylvania. Company news commonly centers on quarterly and annual earnings, net interest income, net interest margin, deposit trends, residential mortgage activity, commercial and consumer lending, and asset-quality measures tied to underwriting and portfolio monitoring.
Other recurring updates include capital levels, leverage-ratio commentary, tangible book value, noninterest expense, technology and staffing investments, and board-authorized capital actions such as common stock repurchases. Coverage also reflects corporate governance and material-agreement categories when they affect the holding company or bank.
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%.
1st Colonial Bancorp (FCOB) reported a significant increase in net income for Q1 2021, reaching $1.7 million or $0.33 per diluted share, a stark rise from $5,000 in Q1 2020. The growth was fueled by a 195.6% rise in non-interest income, primarily from residential mortgage sales. Net interest income also increased, attributed to a 40.5% decline in interest expenses. Total assets grew to $659.4 million, with total loans up by 7.7%. However, non-interest expenses rose by 14.5%, reflecting investments in revenue-producing teams.
1st Colonial Bancorp, Inc. (FCOB) reported a substantial fourth-quarter net income of $2.2 million, or $0.44 per diluted share, representing a 288.4% year-over-year increase. For the full year, net income rose to $4.8 million, up 47.5% from 2019. Revenue grew by 31.5% in Q4, reaching $7.2 million, driven by a 144% surge in non-interest income. The company announced a stock repurchase plan to buy back up to 3% of its shares for $1.4 million, reflecting confidence in future growth, though it will forego stock dividends in 2021. Total assets increased 10.6% to $636.1 million.