Core Insights - First Bank reported a net income of $9.4 million for Q1 2025, a decrease from $12.5 million in Q1 2024, with diluted earnings per share at $0.37 compared to $0.50 in the previous year [1][3][4] - The bank achieved strong loan growth of 11.8% annualized, with total loans reaching $3.24 billion, and total deposits increased by 8.5% annualized to $3.12 billion [6][15] - The efficiency ratio remained below 60% for the 23rd consecutive quarter, indicating sustained operational efficiency [3][6] Financial Performance - Net interest income rose to $32.1 million, a 5.9% increase from Q1 2024, driven by a $2.2 million rise in interest income [4][6] - The tax equivalent net interest margin was 3.65%, up 11 basis points from the previous quarter [5][6] - Non-interest income remained stable at $2.0 million compared to the same period in 2024, but decreased from $2.2 million in Q4 2024 [9] Asset Quality - Nonperforming assets decreased to 0.42% of total assets, down from 0.46% at the end of 2024 and 0.64% a year earlier [6][18] - The allowance for credit losses on loans was 1.21%, slightly up from 1.20% at the end of 2024 [19] Balance Sheet Highlights - Total assets increased by $100.4 million, or 2.7%, from December 31, 2024, to March 31, 2025, totaling $3.88 billion [13][14] - Stockholders' equity rose by $5.8 million, or 1.4%, primarily due to net income [16] - The bank's Tier 1 Leverage ratio was 9.63%, indicating strong capital adequacy [17] Shareholder Returns - The bank declared a cash dividend of $0.06 per share, totaling $1.5 million, and plans to pay the same amount for the next quarter [21] - A share repurchase program was initiated, with 256,454 shares repurchased at an average price of $15.06 per share [22]

Core Insights - First Bank reported a net income of $9.4 million for Q1 2025, a decrease from $12.5 million in Q1 2024, with diluted earnings per share dropping from $0.50 to $0.37 [1][3][34] - The bank's return on average assets, equity, and tangible equity decreased to 1.00%, 9.20%, and 10.54% respectively, compared to 1.41%, 13.36%, and 15.64% in the previous year [1][34] - The bank achieved a 10.8% year-over-year increase in tangible book value per share, reflecting strong loan and deposit growth [3][6] Financial Performance - Net interest income increased to $32.1 million, a 5.9% rise from the same period in 2024, driven by a $2.2 million increase in interest income [4][34] - The tax equivalent net interest margin was 3.65%, up from 3.54% in Q4 2024, indicating improved efficiency in interest income generation [5][34] - Total loans reached $3.24 billion, growing by $91.8 million or 11.8% annualized from the previous quarter [6][13] Asset Quality - Nonperforming assets decreased to 0.42% of total assets, down from 0.46% at the end of 2024 and 0.64% a year earlier, indicating improved asset quality [6][17][40] - The allowance for credit losses on loans was 1.21%, slightly up from 1.20% at the end of 2024 [18][40] Operational Efficiency - The efficiency ratio remained below 60% for the 23rd consecutive quarter, reflecting the bank's commitment to maintaining operational efficiency [3][34] - Non-interest expense increased by 14.5% year-over-year to $20.4 million, primarily due to higher salaries and employee benefits [9][10][34] Capital and Liquidity - Total assets increased by $100.4 million or 2.7% from the previous quarter, reaching $3.88 billion [12][13] - The bank's Tier 1 Leverage ratio was 9.63%, indicating strong capital adequacy [16][40] Shareholder Returns - The bank declared a cash dividend of $0.06 per share, totaling $1.5 million, with plans for continued dividends [20][21] - A share repurchase program is in place, with 350,000 shares repurchased at an average price of $14.74 per share [21][40]

Core Points - First Bank will hold an earnings conference call to discuss its financial and operating performance for the first quarter ending March 31, 2025 [1] - The conference call is scheduled for April 23, 2025, at 9:00 a.m. Eastern Time, with management providing an overview followed by a Q&A session [1] - The first quarter results will be released after market close on April 22, 2025, and will be available on the company's website [1] Company Overview - First Bank is a New Jersey state-chartered bank with 26 full-service branches across New Jersey, Pennsylvania, and Florida [2] - As of December 31, 2024, First Bank has $3.78 billion in assets and offers a range of deposit and loan products primarily in the New York City to Philadelphia corridor [2] - The company's common stock is listed on the Nasdaq Global Market under the symbol "FRBA" [2]

Event: Earnings Conference Call – First Quarter 2025 When: Wednesday, April 23, 2025 at 9:00 a.m. Eastern Time Access: Conference Call Dial-In: (800) 715-9871 (toll free) Conference Call Access Code: 3909613 Patrick L. Ryan, President and Chief Executive Officer, Andrew L. Hibshman, Chief Financial Officer, Peter J. Cahill, Chief Lending Officer, and Darleen Gillespie, Chief Retail Banking Officer will provide an overview of first quarter 2025 results. The management presentation typically lasts approximate ...

Group 1 - The trend is crucial for short-term investing, but ensuring its sustainability is challenging [1] - A unique short-term trading strategy called "Recent Price Strength" helps identify stocks with strong fundamentals that can maintain an uptrend [2] - First Bank (FRBA) has shown a solid price increase of 2.7% over 12 weeks, indicating investor confidence [3] Group 2 - A price increase of 10% over the past four weeks suggests that FRBA's price trend is still intact [4] - FRBA is trading at 85.7% of its 52-week high-low range, indicating a potential breakout [4] - The stock has a Zacks Rank 1 (Strong Buy), placing it in the top 5% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises [5][6] Group 3 - The Zacks Rank 1 stocks have historically generated an average annual return of +25% since 1988, showcasing the effectiveness of this ranking system [6] - The Average Broker Recommendation for FRBA is also 1 (Strong Buy), reflecting high optimism from the brokerage community regarding its near-term performance [6] - Other stocks passing the "Recent Price Strength" screen may also present investment opportunities [7]

While "the trend is your friend" when it comes to short-term investing or trading, timing entries into the trend is a key determinant of success. And increasing the odds of success by making sure the sustainability of a trend isn't easy.The trend often reverses before exiting the trade, leading to a short-term capital loss for investors. So, for a profitable trade, one should confirm factors such as sound fundamentals, positive earnings estimate revisions, etc. that could keep the momentum in the stock aliv ...

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued ...

Financial Data and Key Metrics Changes - The fourth quarter was described as a very good finish to an excellent year, indicating strong overall performance [6]. Business Line Data and Key Metrics Changes - Specific data and metrics for individual business lines were not provided in the available content. Market Data and Key Metrics Changes - Market data and metrics were not detailed in the provided content. Company Strategy and Development Direction and Industry Competition - The company appears to be focused on maintaining strong performance and growth, as indicated by the positive remarks about the year-end results [6]. Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's performance and outlook, highlighting the successful completion of the year [6]. Other Important Information - The call included a Safe Harbor statement, cautioning that forward-looking statements are subject to uncertainties and actual results may differ [4][5]. Q&A Session Summary - No specific questions and answers from the Q&A session were included in the provided content.

Group 1: Earnings Performance - First Bank reported quarterly earnings of $0.42 per share, exceeding the Zacks Consensus Estimate of $0.39 per share, but down from $0.49 per share a year ago, representing an earnings surprise of 7.69% [1] - The company posted revenues of $33.77 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 2.15%, compared to year-ago revenues of $28 million [2] - Over the last four quarters, First Bank has surpassed consensus EPS estimates three times, but has topped consensus revenue estimates only once [2] Group 2: Stock Performance and Outlook - First Bank shares have declined approximately 2.3% since the beginning of the year, while the S&P 500 has gained 3.5% [3] - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] - The current consensus EPS estimate for the upcoming quarter is $0.39 on revenues of $33.19 million, and for the current fiscal year, it is $1.64 on revenues of $137.59 million [7] Group 3: Industry Context - The Zacks Industry Rank indicates that the Banks - Northeast sector is currently in the top 20% of over 250 Zacks industries, suggesting a favorable environment for performance [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5] - The estimate revisions trend for First Bank is currently unfavorable, resulting in a Zacks Rank 4 (Sell) for the stock, indicating expected underperformance in the near future [6]

Results highlighted by strong loan growth, continued operating efficiency, and solid asset qualityHAMILTON, N.J., Jan. 23, 2025 (GLOBE NEWSWIRE) -- First Bank (Nasdaq Global Market: FRBA) ("the Bank") today announced results for the fourth quarter and full year 2024. Net income for the fourth quarter of 2024 was $10.5 million, or $0.41 per diluted share, compared to $8.4 million, or $0.33 per diluted share, for the fourth quarter of 2023. Return on average assets, return on average equity and return on aver ...