First Bank(US:FRBA) Globenewswire·2026-01-26 21:45Core Insights - First Bank reported a net income of $12.3 million for Q4 2025, an increase from $10.5 million in Q4 2024, with diluted earnings per share rising to $0.49 from $0.41 [2] - For the full year 2025, net income reached $43.7 million, up from $42.2 million in 2024, with diluted earnings per share increasing to $1.74 from $1.67 [3] - The bank declared a 50% increase in its quarterly cash dividend, raising it to $0.09 per share from $0.06 [35] Financial Performance - Q4 2025 net interest income rose to $36.2 million, a 14.5% increase compared to Q4 2024, driven by higher average loan balances and a decrease in interest expense [11] - Full year 2025 net interest income totaled $137.8 million, a 12.5% increase from $122.5 million in 2024, attributed to an average loan growth of $267 million [12] - The efficiency ratio improved to 49.46% in Q4 2025 from 56.91% in Q4 2024, indicating better cost management [7] Asset Quality - Total nonperforming assets increased to $18.4 million at the end of 2025, up from $17.3 million at the end of 2024, primarily due to nonperforming small business loans [31] - The allowance for credit losses on loans as a percentage of total loans was 1.38% at December 31, 2025, compared to 1.20% at December 31, 2024 [32] Balance Sheet - Total assets increased to $3.96 billion at December 31, 2025, up 4.8% from $3.78 billion at the end of 2024 [25] - Total loans were $3.29 billion, reflecting a 4.7% increase from the previous year, despite a decline from the linked quarter due to elevated payoffs [7] - Total deposits reached $3.20 billion, a 4.8% increase from $3.06 billion at the end of 2024, driven by new deposit relationships [27] Future Outlook - The bank plans to continue investing in technology and talent to support growth and profitability in 2026 [10] - Management expects ongoing efficiency initiatives to enhance shareholder returns and maintain a strong liquidity position [34]