Patrick Ryan Sounds good. Thank you for taking my question. Patrick Ryan Manuel Navas Hey, good morning. I just wanted to go back to the... Nick Cucharale Patrick Ryan Nick Cucharale That's really helpful. On the securities, you sold some securities. What was the yield pickup there? And any more color on that would be great. And what did they end the quarter at, maybe the securities book yield? Any more color on that transaction would be helpful. Patrick Ryan Thank you for attending today's conference. Have ...

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 ...

First Bank (NASDAQ:FRBA) Q3 2022 Earnings Conference Call October 26, 2022 9:00 AM ET Company Participants Pat Ryan - President & Chief Executive Officer Andrew Hibshman - Chief Financial Officer Peter Cahill - Chief Lending Officer Conference Call Participants Nick Cucharale - Piper Sandler David Bishop - Hovde Group Manuel Navas - D.A. Davidson Pat Ryan I'd like to welcome everyone today to First Bank's Third Quarter 2020 Earnings Call. I'm joined by Andrew Hibshman, our CFO; and Peter Cahill, our Chief L ...

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 ...

First Bank (NASDAQ:FRBA) Q1 2022 Earnings Conference Call April 26, 2022 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 Nicholas Cucharale – Piper Sandler Manuel Navas – D.A. Davidson David Bishop – Hovde Group Erik Zwick – Boenning & Scattergood Operator Everyone, and welcome to First Bank First Quarter 2022 Earnings Call. If you would let the opportunity to ask a q ...

First Bank (NASDAQ:FRBA) Q4 2021 Earnings Conference Call January 27, 2022 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 Nick Cucharale - Piper Sandler Bryce Rowe - The Hovde Group Erik Zwick - Boenning & Scattergood Manuel Navas – D.A. Davidson Disclaimer*: This transcript is designed to be used alongside the freely available audio recording on this page. Timestamp ...

First Bank (NASDAQ:FRBA) Q3 2021 Earnings Conference Call October 27, 2021 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 Nick Cucharale - Piper Sandler Manuel Navas - DA Davidson Erik Zwick - Boenning & Scattergood Disclaimer*: This transcript is designed to be used alongside the freely available audio recording on this page. Timestamps within the transcript are des ...