First Bank Announces Third Quarter 2024 Net Income of $8.2 Million
First Bank (FRBA)
Last first bank earnings: 4/27 04:30 pm
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Source: GlobeNewswire
Results reflect strong loan and deposit growth, solid asset quality, and balance sheet optimization initiatives HAMILTON, N.J., Oct. 23, 2024 (GLOBE NEWSWIRE) -- First Bank (Nasdaq Global Market: FRBA) (the Bank) today announced results for the third quarter of 2024. Net income for the third quarter of 2024 was $8.2 million, or $0.32 per diluted share. Return on average assets, return on average equity and return on average tangible equity[i] for the third quarter of 2024 were 0.88%, 8.15% and 9.42%, respectively. The Bank recorded a net loss of $1.3 million, or a loss of $0.05 per diluted share, and losses on average assets, equity, and tangible equityi of 0.14%, 1.43%, and 1.66%, respectively, for the third quarter of 2023. Financial results for the third quarter of 2023 were negatively impacted by the Malvern Bancorp acquisition, completed in July 2023, primarily due to the merger-related expenses and the initial credit loss expense on acquired loans. Third Quarter 2024 Per
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News
- First Bank Announces Fourth Quarter 2024 Earnings Conference CallGlobeNewswire
- First Bank (NASDAQ: FRBA) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating.MarketBeat
- First Bank (NASDAQ: FRBA) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating.MarketBeat
- First Bank (NASDAQ: FRBA) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating.MarketBeat
- First Bank (NASDAQ: FRBA) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating.MarketBeat