ToplineTroubled Philadelphia-based regional bank Republic First Bancorp was seized by Pennsylvania regulators Friday, marking the first regional banking failure this year following a series of high-profile collapses in 2023—though the bank is far smaller than those that collapsed last year and its nearly three dozen branches are set to reopen under a new name.Philadelphia-based Republic First Bancorp was seized by Pennsylvania regulators, the FDIC announced ... [+] on Friday.Getty Images Key FactsThe Pennsy ...

First Bank (FRBA) came out with quarterly earnings of $0.49 per share, beating the Zacks Consensus Estimate of $0.43 per share. This compares to earnings of $0.38 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 13.95%. A quarter ago, it was expected that this company would post earnings of $0.37 per share when it actually produced earnings of $0.49, delivering a surprise of 32.43%.Over the last four quarters, the company has s ...

HAMILTON, N.J., April 22, 2024 (GLOBE NEWSWIRE) -- First Bank (Nasdaq Global Market: FRBA) (the Bank) today announced results for the first quarter of 2024. Net income for the first quarter of 2024 was $12.5 million, or $0.50 per diluted share, compared to $7.0 million, or $0.36 per diluted share, for the first quarter of 2023. Return on average assets, return on average equity and return on average tangible equity[i] for the first quarter of 2024 were 1.41%, 13.36% and 15.64%, respectively, compared to 1.0 ...

While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors rely on traditional forms of analysis on key valuation metrics to find stocks that t ...

First Bank (Hamilton) (NASDAQ:FRBA) Q3 2023 Earnings Conference Call October 26, 2023 9:00 AM ET Company Participants Patrick Ryan - President, CEO & Director Andrew Hibshman - EVP, Treasurer & CFO Darleen Gillespie - Head, Retail, First Senior VP & Chief Retail Banking Officer Peter Cahill - EVP & Chief Lending Officer Conference Call Participants Justin Crowley - Piper Sandler & Co. Manuel Navas - D.A. Davidson & Co. Operator Ladies and gentlemen, thank you for standing by. My name is Sara, and I will be ...

Financial Data and Key Metrics Changes - The company reported a net income of $6.8 million for Q2 2023, translating to $0.35 per diluted share, with a return on average assets of 0.97% [24] - Net income declined by $190,000 from the previous quarter and by $2.0 million compared to Q2 2022 [6] - The tax equivalent net interest margin decreased to 3.28% in Q2 2023 from 3.52% in the previous quarter [7] Business Line Data and Key Metrics Changes - Loans increased by $44 million in Q2 2023, compared to an increase of $55 million in Q1 2023 [25] - C&I loans represented 73% of new loans closed and funded in Q2, slightly down from 74% in Q1 [15] - Noninterest expenses were $13.8 million in Q2 2023, up 2.4% from Q1 2023 [9] Market Data and Key Metrics Changes - Total deposits grew by $158 million in Q2 2023, recovering from a decline of $52 million in Q1 2023 [25] - Noninterest-bearing deposits increased by $13 million in Q2 2023, rebounding from a decrease of $40 million in Q1 [7] - The cost of deposits increased by 50 basis points from Q1 2023 due to competitive pressures [11] Company Strategy and Development Direction - The company aims to leverage the Malvern Bank acquisition to enhance its presence in Southeastern Pennsylvania and improve balance sheet management [3] - Strategic investments in people and technology are expected to yield long-term benefits despite causing near-term earnings drag [3] - The focus is on optimizing the balance sheet for better risk-adjusted profitability and shareholder value [21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining strong asset quality metrics despite industry headwinds [2] - The current interest rate environment is expected to continue exerting pressure on margins, but the company is focused on maintaining loan pricing to improve yields [7] - The integration of Malvern Bank is anticipated to provide significant liquidity and balance sheet flexibility [7] Other Important Information - The company plans to incur the majority of merger-related expenses in Q3 2023, with expected cost savings to be realized by the end of Q4 2023 [10] - The allowance for credit losses to total loans remained steady at 1.25%, with modest net charge-offs year-to-date [26] Q&A Session Summary Question: When is the systems conversion scheduled to take place? - The systems conversion is scheduled for the weekend of September 9, 10, and 11 [43] Question: What is the organic loan growth target for the full year? - The typical target for organic growth is around $200 million, with flexibility based on market conditions and quality of deals [44] Question: Can you discuss general demand for loans? - There is less activity in the market, but businesses are still engaging in deliberate borrowing, with a slowdown in payoffs contributing to net loan growth [45] Question: What is the focus within C&I lending? - The focus is broad-based within C&I, including small micro-business lending and asset-based lending, alongside core market teams seeking quality opportunities [66] Question: How is the company approaching deposit growth? - The company is reallocating staff to focus more on market engagement and relationship building to drive deposit growth [75]

First Bank (NASDAQ:FRBA) Q1 2023 Earnings Conference Call April 27, 2023 9:00 AM ET Company Participants Patrick Ryan - President and CEO Andrew Hibshman - CFO Darleen Gillespie - Chief Retail Bank Officer Peter Cahill - Chief Lending Officer Conference Call Participants Nick Cucharale - Hovde Group Manuel Navas - D.A. Davidson Patrick Ryan I'd like to welcome everyone today to First Bank's First Quarter 2023 Earnings Call. I'm joined today by Andrew Hibshman, our Chief Financial Officer; Darleen Gillespie, ...

First Bank (NASDAQ:FRBA) Q4 2022 Earnings Conference Call January 26, 2023 9:00 AM ET Company Participants Patrick Ryan - President & Chief Executive Officer Andrew Hibshman - Chief Financial Officer Peter Cahill - Chief Lending Officer Conference Call Participants David Bishop - Hovde Group Manuel Navas - D.A. Davidson Operator Now let me turn the call over to Patrick Ryan, President and CEO. So, Patrick, you may begin. Thank you, and good morning, everybody. Welcome to our fourth quarter earnings conferen ...

Financial Data and Key Metrics Changes - The company reported a net income of $10.2 million for Q3 2022, translating to $0.52 per diluted share, with a return on average assets of 1.57% [14] - The net interest margin expanded by 21 basis points during the quarter, reaching 3.7% [4][18] - Return on tangible common equity was above 15%, and the efficiency ratio remained below 50% for the seventh consecutive quarter [6] - Non-performing assets to total assets declined to just 21 basis points, reflecting improved asset quality [6][25] Business Line Data and Key Metrics Changes - Year-to-date net loan growth was $185 million, representing a 12% annualized growth rate, excluding PPP loans [7][31] - Total loans increased by $36.5 million in Q3 2022, with a total of $101 million in new loans closed and funded during the quarter [16][32] - Non-interest income decreased to $944,000 from $1.5 million in Q2 2022, primarily due to lower loan sale income and fees [26] Market Data and Key Metrics Changes - Total deposits increased by $25 million during Q3 2022, although non-interest-bearing deposits decreased by $16.4 million [17] - The company anticipates an acceleration of deposit costs due to the rising interest rate environment [9] Company Strategy and Development Direction - The company is refocusing on deposit growth after a period of excess liquidity, emphasizing the importance of core deposit generation [11][60] - New opportunities are being explored in niche areas such as asset-based lending and small business lending, alongside traditional commercial banking [12] - The company is also looking to expand its presence in private equity fund banking, which is expected to diversify its portfolio and enhance profitability [63] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining strong loan growth despite potential market slowdowns due to rising interest rates [48][51] - The company is well-positioned to take advantage of opportunities arising from recent M&A activity in the market [48] - Management indicated that while deposit pricing pressures are increasing, they expect to maintain margins at current levels [21][70] Other Important Information - The company repurchased 59,885 shares at an average price of $13.97 during Q3 2022, which had a marginal impact on tangible book value per share [24] - The allowance for loan losses as a percentage of loans was reduced to 1.09%, supported by a significant decline in non-performing loans [25] Q&A Session Summary Question: Loan growth expectations in light of rising deposit costs - Management noted that while there may be a slight slowdown in demand due to rising rates, they expect to see opportunities from recent M&A activity [48][51] Question: Future loan sales in the SBA environment - Management indicated a preference to hold new SBA production loans for now, with potential for future sales depending on the rate environment [53][54] Question: Capital return strategies including stock repurchase - Management stated that they are considering various methods to return capital to shareholders, including stock buybacks and dividends, depending on market conditions [56][57] Question: Changes in deposit and funding strategies - Management clarified that the refocus on deposits is more about returning to a normal operational mindset rather than a complete revamp of strategies [60] Question: Performance of the new private equity fund banking group - Management expressed optimism about the new group, expecting it to contribute significantly to loan growth and deposit generation over time [63][64] Question: Loan fees turning negative - Management explained that the negative loan fees were due to accounting nuances related to early payoffs of SBA loans [66][67]

First Bank (NASDAQ:FRBA) Q2 2022 Earnings Conference Call July 27, 2022 9:00 AM ET CompanyParticipants Andrew Hibshman - Chief Financial Officer Patrick Ryan - President & Chief Executive Officer Peter Cahill - Chief Lending Officer Conference Call Participants Nick Cucharale - Piper Sandler Manuel Navas - D.A. Davidson David Bishop - Hovde Group Operator Hello, everyone and welcome to the First Bank Earnings Conference Call Second Quarter 2022. My name is Emily and I will be moderating today's event. [Oper ...