First Bank Stock Price, News & Analysis

First Bank (Nasdaq: FRBA) announced a conference call scheduled for April 27, 2023, at 9:00 a.m. ET to discuss its financial and operating results for Q1 2023. The call will feature management, including CEO Patrick L. Ryan and CFO Andrew L. Hibshman, for a presentation followed by a Q&A session. The financial results will be released after market close on April 26, 2023, and will be accessible on the company's website. As of December 31, 2022, First Bank held $2.73 billion in assets and operates 19 branches across New Jersey and Pennsylvania.

First Bank (FRBA) reported strong financial results for Q4 and full year 2022, with net income at $9.1 million ($0.46 per diluted share), up from $7.8 million ($0.40) a year prior.

Return on assets was 1.35%, and return on equity reached 12.61%. Total net revenue rose 10.3% to $25.2 million for Q4, driven by a loan portfolio growth of 10% year-over-year.

The bank announced an agreement to acquire Malvern Bancorp, adding approximately $785 million in deposits. Asset quality metrics remained strong, with nonperforming loans at 0.27% and a continued focus on cost efficiency.

First Bank's Board declared a quarterly cash dividend of $0.06 per share.

First Bank (Nasdaq: FRBA) will host an earnings conference call on January 26, 2023, at 9:00 a.m. ET to discuss its financial performance for the fourth quarter ended December 31, 2022. The results will be released after market close on January 25, 2023. Management, including CEO Patrick L. Ryan and CFO Andrew L. Hibshman, will provide insights into the quarterly results, followed by a Q&A session. Interested participants can join via dial-in numbers provided in the release.

First Bank has 18 branches and reported $2.64 billion in assets as of September 30, 2022.

First Bank has announced its acquisition of Malvern Bancorp, Inc. for approximately $149.5 million. This merger, unanimously approved by both boards, aims to enhance First Bank's market position and deposit share in eastern Pennsylvania and expand its service area. Following the deal's completion in Q2 2023, First Bank's total assets will increase to $3.68 billion with 27 branches across multiple states. The transaction involves stock and cash components, expected to be immediately accretive to earnings per share.

First Bank (FRBA) reported strong third quarter 2022 results, achieving a net income of $10.2 million ($0.52 per diluted share), up from $9.0 million in Q3 2021. Total loans rose by 6.6% year-over-year to $2.25 billion, with a 1.4% increase from Q2 2022. Net interest income increased 18.2% year-over-year to $24.6 million, driven by higher loan rates. The bank's asset quality improved with nonperforming loans down to 0.23%. A quarterly dividend of $0.06 per share was declared, reflecting a 1.65% yield based on the recent stock price.

First Bank (Nasdaq: FRBA) announces a conference call on October 26, 2022, at 9:00 a.m. ET to discuss Q3 2022 financial results. The call will feature executives Patrick L. Ryan, Andrew L. Hibshman, and Peter J. Cahill, providing insights into the bank's performance. Investors can access the results after market close on October 25, 2022. First Bank operates 18 branches across New Jersey and Pennsylvania and reported $2.6 billion in assets as of June 30, 2022. For further details, visit the Investor Relations section of their website.

First Bank (FRBA) announced an affirmation of its credit ratings by Kroll Bond Rating Agency (KBRA) with a stable outlook. The Bank's ratings include a BBB+ for deposits and senior unsecured debt, supported by improved earnings, a strong core deposit base, and successful growth initiatives. CEO Patrick L. Ryan expressed confidence in the ratings reflecting the Bank’s sound operating environment. With assets totaling $2.6 billion, First Bank operates 18 branches across New Jersey and Pennsylvania, continuing to enhance its market presence.

First Bank (FRBA) reported its second quarter 2022 results, showcasing a net income of $8.8 million, equal to $0.45 per diluted share. Key performance metrics include a return on average assets of 1.38% and a net interest margin of 3.76%, up 19 basis points from the previous quarter. Total loans rose to $2.22 billion, a 5.1% increase year-over-year, while deposits decreased slightly by 0.6% from the prior quarter. The bank maintained solid asset quality with net charge-offs at 0.07% and nonperforming loans at 0.57%. A quarterly dividend of $0.06 was declared, reflecting an annualized yield of 1.69%.

First Bank (FRBA) announces an earnings conference call for its second quarter ended June 30, 2022, scheduled for July 27, 2022, at 9:00 a.m. ET. CEO Patrick L. Ryan, CFO Andrew L. Hibshman, and CLO Peter J. Cahill will present the financial results, which will be released the day prior, after market close. The conference call can be accessed via dial-in numbers for U.S. and international participants, with access code 212059. First Bank operates 18 branches across New Jersey and Pennsylvania, holding $2.57 billion in assets as of March 31, 2022.