News & Events zu FIRST BANK (Hamilton) (FRBA)FRBAFIRST BANK (Hamilton)

First Bank Reports Q2 Revenue of $36.95M

Reports Q2 revenue $36.95M, consensus $37.23M. Reports Q2 tangible book value per share $16.27. Patrick L. Ryan, President and CEO of First Bank, reflecting on the Bank's performance, stated, "Our team's outstanding execution drove our strong and improved performance in the second quarter. Pre-provision net revenueiv expanded by nearly 9% from the linked quarter, reflecting momentum in our core business activities. Loan production was robust in our areas of focus, with C&I loans and owner-occupied CRE loans up a combined $83 million during the quarter. Deposit growth of $96 million was strong, despite increased pricing and competitive pressure for deposit dollars. Small declines in both loan yields and deposit costs overall supported our strong and stable net interest margin. We maintained our focus on tight expense management, operating with an improved efficiency ratio that remained below 60% for the 28th consecutive quarter. We believe this is a core operating strength that differentiates us in a competitive environment. We will continue to focus on expense management and efficiency gains moving forward as that will be the biggest driver of improved profitability in the near term. Importantly, credit costs decreased to the lowest level in five quarters, contributing to growth of nearly 7% in earnings per share compared to last year's second quarter. Charge-offs during the quarter remained isolated to the credit-scored, small business portfolio, and the underlying metrics in the portfolio continue to improve which should lead to a reduction in credit costs related to this portfolio in future quarters. The changes we've implemented to this product's structure and sales process are proving effective."

First Bank Reports Q1 Tangible Book Value Per Share at $15.90

Reports Q1 tangible book value per share $15.90. Reports Q1 CET1 capital ratio 10.88%. Patrick Ryan, president and CEO of First Bank, reflecting on the Bank's performance, stated, "We generated modest growth in loans and deposits during the first quarter, and our strong margin and efficient operations supported solid year-over-year expansion in income, excluding credit loss expenses. However, our performance in Q1 did not live up to our internal standards. Continued clean-up in the credit-scored, small business portfolio drove elevated credit costs which led to lower overall profitability. Steps taken starting in mid-2025 to modify the product structure and sales process have tightened things significantly, which should lead to better performance going forward. We believe we have fully captured expenses tied to any known problems, and future credit costs tied to this portfolio should come down significantly as we move forward."

First Bank Reports Q4 Revenue of $38.46M

Reports Q4 revenue $38.46M, consensus $37.42M. Reports Q4 tangible book value per share $15.81. Reports Q4 CET1 capital ratio 10.67%. Patrick Ryan, president and CEO of First Bank, stated, "We experienced continued improvement in our core operating trends and we also saw a number of "non-standard" items during the fourth quarter. Our community banking and specialty banking teams continued to execute our strategy to grow deep commercial relationships, building solid loan and deposit pipelines heading into 2026. During the fourth quarter we increased our net interest margin with effective pricing and balance sheet management, even as loan balances retracted amidst elevated payoff activity during the quarter. We operated with an efficiency ratio that remained below 60% for the 26th consecutive quarter, contributing to strong pre-provision net revenue and demonstrating our core operating strength."