FRBA News & Events

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."

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."