Welcome to our dedicated page for First Bank news (Ticker: FRBA), a resource for investors and traders seeking the latest updates and insights on First Bank stock.
First Bank (NASDAQ: FRBA) is a New Jersey state‑chartered commercial bank that regularly issues detailed updates on its financial and operating performance. This news page aggregates company announcements, earnings releases, and other disclosures so readers can follow developments that affect FRBA stock and the bank’s operations.
Investors can review quarterly and annual earnings news in which First Bank reports net income, loan and deposit trends, net interest margin, asset quality metrics, and capital ratios. Management commentary in these releases often discusses commercial and industrial lending, owner‑occupied commercial real estate activity, deposit mix, and efficiency trends, providing context for the bank’s performance in its core markets.
In addition to earnings results, First Bank frequently announces conference calls to discuss quarterly performance. These notices include information on scheduled dates, times, and access details for live calls and replays. The bank also issues news about capital management actions, such as subordinated debt offerings, redemptions of existing notes, cash dividend declarations, and share repurchase activity.
Because First Bank focuses on traditional deposit and loan products for individuals and businesses in New Jersey, eastern Pennsylvania, and Palm Beach, Florida, its news often highlights loan growth, deposit growth, and branch network developments. Updates may reference new branch locations, branch network optimization, and investments in technology and digital banking capabilities.
Use this page to review First Bank’s official news flow in one place, from earnings and capital actions to branch and strategic updates. Regularly reviewing these items can help readers understand how management describes the bank’s strategy, risk profile, and financial results over time.
First Bank (FRBA) will host an earnings conference call on January 28, 2021, at 9:00 a.m. ET to discuss the fourth quarter 2020 financial results. The report will be issued after market close on January 27, 2021. Key executives including CEO Patrick L. Ryan and CFO Stephen F. Carman will present the results, followed by a Q&A session. First Bank operates 18 branches across New Jersey and Pennsylvania, with assets totaling $2.3 billion as of September 30, 2020.
First Bank (FRBA) reported a strong financial performance for Q3 and the first nine months of 2020. Net income for Q3 was $5.9 million, up from $1.1 million in Q3 2019, showing a significant increase of 436%. Year-to-date net income reached $13.3 million, a 61.6% rise year-over-year. Total net revenue for Q3 was $19.9 million, a 33.6% increase, driven by robust loan growth, including $190.7 million in PPP loans. Total loans reached $2 billion, up 15%, and total deposits increased to $1.84 billion, an 11.1% rise. Asset quality remains stable with a low ratio of nonperforming loans at 0.63%. The bank declared a cash dividend of $0.03 per share.
First Bank (FRBA) reported positive trends in its COVID-19 financial hardship payment deferrals as of August 31, 2020. The Bank granted a total of 613 loans worth approximately $433.7 million in deferrals, with 86.03% of loans due making full payments. Key sectors affected include hospitality (79% of loans deferred) and restaurants (48.4% of loans deferred), where payment resumption expectations are strong. Total deferred loans have decreased significantly from a peak of $434.2 million to $72.0 million, indicating a recovery as economic conditions improve.
First Bank (FRBA) announced that Kroll Bond Rating Agency has affirmed its credit ratings with a stable outlook. The ratings include a Deposit rating of BBB+ and a Senior Unsecured Debt rating of BBB+. KBRA noted the bank's seasoned management, successful M&A strategies, and stable earnings despite a challenging interest rate environment. The bank also has a strong credit position with minimal losses and high loan loss reserves. CEO Patrick L. Ryan expressed confidence that these ratings support growth and capital market flexibility.
First Bank (FRBA) reported a net income of $4.1 million for Q2 2020, up from $2.8 million in Q2 2019, driven by strong loan origination and revenue growth. Total net revenue increased 20.7% year-over-year to $18.2 million. Total loans reached $1.96 billion, a 26.2% increase from the previous year. Despite challenges from the COVID-19 pandemic, asset quality remained stable with nonperforming loans at 0.72%. The bank successfully raised $29.5 million through subordinated notes and repurchased 1 million shares in 2020. A quarterly dividend of $0.03 per share was declared.
First Bank (FRBA) will host an earnings conference call on July 28, 2020, at 9:00 a.m. ET to discuss its second quarter 2020 performance. Patrick L. Ryan, President and CEO, will lead the presentation, outlining the financial results following the release on July 27. The call provides a platform for investor questions and discussions after a brief management overview. First Bank, with $2.1 billion in assets as of March 31, 2020, operates 18 branches across New Jersey and Pennsylvania, delivering a variety of deposit and loan products.
First Bank (NASDAQ: FRBA) announced the closing of a $30 million private placement of fixed-to-floating rate subordinated notes. The proceeds will be used to redeem $22 million of existing subordinated notes and for general corporate purposes. The new notes will have a fixed interest rate of 5.50% for the first five years, transitioning to a floating rate thereafter. This capital will allow the bank to reduce interest expenses and support growth without issuing new shares. The notes qualify as Tier 2 capital for regulatory needs.