First Bank (FRBA) 10-Year Financial Performance & Capital Metrics

FRBA • • Banking & Credit

Financial ServicesRegional BanksCommunity & Regional Retail BankingNortheast Community Banks

AboutFirst Bank provides various banking products and services to individuals, businesses, and governmental entities. The company accepts various deposits, including non-interest bearing demand deposits, interest bearing demand accounts, money market accounts, savings accounts, and certificates of deposit, as well as commercial checking accounts. Its loan products include commercial and industrial loans; commercial real estate loans, such as owner-occupied, investor, construction and development, and multi-family loans; residential real estate loans comprising residential mortgages, first and second lien home equity loans, and revolving lines of credit; and consumer and other loans that include auto, personal, and traditional installment loans. The company also provides electronic banking services, including Internet and mobile banking, electronic bill payment, and banking by phone, as well as ATM and debit cards, and wire and ACH transfer services; remote deposit capture; and cash management services. As of December 31, 2021, it operated 18 full-service branches in Cinnaminson, Cranbury, Delanco, Denville, Ewing, Flemington, Hamilton, Hamilton, Lawrence, Mercerville, Pennington, Randolph, Somerset, and Williamstown counties in New Jersey, as well as Doylestown, Trevose, Warminster, and West Chester counties in Pennsylvania. First Bank was incorporated in 2007 and is headquartered in Hamilton, New Jersey.Show more

Net Interest Income $123M +17.3%
Total Revenue $229M +32.4%
Net Income $42M +102.2%
Return on Equity 10.83% +71.2%
Net Interest Margin 3.24% +11.9%
Efficiency Ratio 32.05% -19.2%
ROA 1.14% +73.5%
Equity / Assets 10.82% +5.3%
Book Value per Share 16.18 -3.7%
Tangible BV/Share 14.09 -1.6%
Debt/Equity 0.68 +7.1%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y profit CAGR of 25.7%
✓Efficient operations: 32.0% efficiency ratio
✓Well capitalized: 10.8% equity/assets
✓Trading at only 1.1x book value

✗Weaknesses

✗Shares diluted 14.5% in last year

Price & Volume

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Growth Metrics

Revenue CAGR

10Y26.85%

5Y21.08%

3Y32.39%

TTM-

Profit (Net Income) CAGR

10Y21.89%

5Y25.73%

3Y6.04%

TTM24.71%

EPS CAGR

10Y10.24%

5Y19.34%

3Y-2.29%

TTM23.77%

ROCE

10Y Avg6.86%

5Y Avg8.37%

3Y Avg8.16%

Latest8.11%

Peer Comparison

Northeast Community Banks

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
DCOMDime Community Bancshares, Inc.	1.37B	31.13	56.60	0.1%	4.5%	4.02%	6.79%	0.70
EBCEastern Bankshares, Inc.	4.4B	19.56	29.64	91.64%	11.17%	1.3%	6.14%	0.01
LYGLloyds Banking Group plc	80.5B	5.48	21.92	10.79%	11.75%	9.93%		1.76
CFGCitizens Financial Group, Inc.	26.03B	60.61	20.00	1.31%	12.22%	6.6%	7.22%	0.51
PFSProvident Financial Services, Inc.	2.65B	20.29	19.32	63.91%	10.13%	7.51%	16.04%	0.93
CBUCommunity Bank System, Inc.	3.3B	62.73	18.24	24.44%	19.4%	10.34%	6.71%	0.57
VLYValley National Bancorp	6.7B	12.02	17.42	6.51%	10.65%	6.53%	8.18%	0.50
INDBIndependent Bank Corp.	3.8B	76.62	16.95	6.89%	19.72%	7.76%	5.51%	0.23

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	23.82M	28.9M	39.66M	54.94M	58.37M	69.55M	81.89M	92.37M	104.52M	122.55M
NII Growth %	-	0.21%	0.37%	0.39%	0.06%	0.19%	0.18%	0.13%	0.13%	0.17%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	30.76M	38.33M	51.2M	72.74M	84.17M	89.2M	91.11M	107.26M	174.02M	222.13M
Interest Expense	6.94M	9.42M	11.54M	17.79M	25.8M	19.65M	9.22M	14.89M	69.5M	99.58M
Loan Loss Provision	2.67M	2.7M	2.67M	3.45M	3.98M	9.54M	-232K	2.87M	7.94M	1.18M
Non-Interest Income+	1.64M	1.63M	2.12M	3.45M	4M	6.35M	7.75M	5.12M	-715K	7.31M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	32.41M	39.96M	53.31M	76.19M	88.17M	95.55M	98.87M	112.38M	173.3M	229.44M
Revenue Growth %	0.52%	0.23%	0.33%	0.43%	0.16%	0.08%	0.03%	0.14%	0.54%	0.32%
Non-Interest Expense	17.73M	18.33M	24.68M	33.31M	39.36M	40.39M	43.15M	46.73M	68.7M	73.53M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	5.07M	9.5M	14.42M	21.64M	19.01M	25.98M	46.72M	47.89M	27.16M	55.15M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	-0.36%	0.87%	0.52%	0.5%	-0.12%	0.37%	0.8%	0.02%	-0.43%	1.03%
Pretax Income+	5.07M	9.5M	14.42M	21.64M	19.01M	25.98M	46.72M	47.89M	27.16M	55.15M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	1.19M	3.1M	7.43M	4.05M	5.57M	6.53M	11.29M	11.6M	6.26M	12.9M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	3.89M	6.41M	6.99M	17.59M	13.45M	19.45M	35.43M	36.29M	20.9M	42.24M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-0.33%	0.65%	0.09%	1.52%	-0.24%	0.45%	0.82%	0.02%	-0.42%	1.02%
Net Income (Continuing)	3.89M	6.41M	6.99M	17.59M	13.45M	19.45M	35.43M	36.29M	20.9M	42.24M
EPS (Diluted)+	0.41	0.61	0.48	0.95	0.69	0.97	1.79	1.84	0.95	1.67
EPS Growth %	-0.35%	0.49%	-0.21%	0.98%	-0.27%	0.41%	0.85%	0.03%	-0.48%	0.76%
EPS (Basic)	0.41	0.61	0.49	0.97	0.70	0.98	1.81	1.86	0.95	1.68
Diluted Shares Outstanding	9.49M	10.58M	14.58M	18.57M	19.39M	20M	19.82M	19.72M	22.07M	25.28M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	37.46M	32.73M	47.49M	36.35M	47.88M	99.84M	155.78M	113.63M	215.18M	258.39M
Short Term Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Investments+	785.55M	994.15M	1.34B	1.55B	1.81B	2.13B	2.24B	2.47B	3.13B	3.24B
Investments Growth %	-0.62%	0.27%	0.34%	0.16%	0.16%	0.18%	0.05%	0.1%	0.27%	0.04%
Long-Term Investments	740.21M	947.08M	1.27B	1.5B	1.76B	2.07B	2.15B	2.37B	3.03B	3.18B
Accounts Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	0	0	10.5M	16.07M	16.25M	16.25M	17.83M	17.83M	44.17M	44.17M
Intangible Assets	286K	224K	917K	1.48M	2.08M	1.75M	2.15M	1.58M	10.81M	8.83M
PP&E (Net)	3.45M	3.34M	5.88M	11M	11.88M	10.74M	9.88M	10.55M	21.63M	21.35M
Other Assets	19.37M	31.93M	41.05M	77.12M	111.49M	70.07M	77.47M	101.18M	142.87M	163.31M
Total Current Assets	84.85M	82.38M	113.71M	91.87M	100.15M	168.38M	256.04M	220.75M	324.08M	340.33M
Total Non-Current Assets	771.25M	990.91M	1.34B	1.62B	1.91B	2.18B	2.27B	2.51B	3.29B	3.44B
Total Assets+	856.11M	1.07B	1.45B	1.71B	2.01B	2.35B	2.52B	2.73B	3.61B	3.78B
Asset Growth %	0.26%	0.25%	0.35%	0.18%	0.18%	0.17%	0.08%	0.08%	0.32%	0.05%
Return on Assets (ROA)	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Accounts Payable	612K	636K	988K	1.04M	1.08M	561K	399K	1.22M	2.81M	3.82M
Total Debt+	45.53M	86.15M	116.61M	115.21M	127.44M	190.64M	124.9M	120.66M	234.4M	276.89M
Net Debt	8.08M	53.42M	69.12M	78.85M	79.56M	90.8M	-30.87M	7.03M	19.22M	18.5M
Long-Term Debt	45.53M	86.15M	116.61M	115.21M	127.44M	190.64M	124.9M	120.66M	234.4M	276.89M
Short-Term Debt	0	0	0	0	0	0	0	0	0	0
Other Liabilities	1.56M	2.13M	3.39M	6.87M	15.81M	13.34M	17.18M	27.55M	33.64M	34.59M
Total Current Liabilities	740.25M	896.21M	1.17B	1.39B	1.64B	1.9B	2.12B	2.3B	2.97B	3.06B
Total Non-Current Liabilities	47.1M	88.28M	120M	122.07M	143.25M	203.98M	142.08M	148.21M	268.05M	311.47M
Total Liabilities	787.34M	984.49M	1.29B	1.52B	1.79B	2.11B	2.26B	2.44B	3.24B	3.37B
Total Equity+	68.76M	88.81M	163.25M	194.84M	226.39M	238.11M	266.67M	289.56M	370.9M	409.16M
Equity Growth %	0.06%	0.29%	0.84%	0.19%	0.16%	0.05%	0.12%	0.09%	0.28%	0.1%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.06%	0.08%	0.06%	0.1%	0.06%	0.08%	0.14%	0.13%	0.06%	0.11%
Book Value per Share	7.24	8.39	11.20	10.49	11.67	11.90	13.46	14.69	16.80	16.18
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	47.22M	56.88M	87M	93.13M	101.89M	103.14M	103.7M	104.51M	134.55M	135.5M
Additional Paid-in Capital	14.51M	18.78M	57.02M	67.42M	78.11M	78.89M	79.56M	80.69M	122.88M	124.52M
Retained Earnings	7.43M	13.61M	19.73M	35.22M	46.37M	63.43M	95.92M	127.53M	140.56M	176.78M
Accumulated OCI	-398K	-469K	-494K	-935K	27K	839K	-206K	-7.33M	-5.72M	-4.92M
Treasury Stock	0	0	0	0	0	-8.18M	-12.32M	-15.84M	-21.38M	-22.72M
Preferred Stock	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	5.14M	9.16M	16.53M	36.92M	16.05M	24.51M	28.04M	36.88M	143.84M	27.63M
Operating CF Growth %	0.06%	0.78%	0.8%	1.23%	-0.57%	0.53%	0.14%	0.32%	2.9%	-0.81%
Net Income	3.89M	6.41M	6.99M	17.59M	13.45M	19.45M	35.43M	36.29M	20.9M	42.24M
Depreciation & Amortization	608K	628K	714K	1.4M	1.69M	1.91M	1.58M	1.56M	2.85M	4.32M
Deferred Taxes	0	0	0	0	1.83M	-1.27M	659K	358K	318K	5.27M
Other Non-Cash Items	1.99M	1.6M	6.87M	17.21M	183K	5.23M	-14.37M	-3.41M	125.44M	-14.3M
Working Capital Changes	-1.55M	205K	1.52M	-71K	-2.02M	-1.84M	3.74M	869K	-7.29M	-11.96M
Cash from Investing+	-166.46M	-222.31M	-167.88M	-140.67M	-76.42M	-327.18M	7.04M	-233.07M	20.33M	-107.2M
Purchase of Investments	-44.28M	-34.08M	-25.83M	-5.15M	-10.89M	-42.18M	-75.87M	-53.78M	-63.47M	-53.34M
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	0	0	11.76M	8.04M	30.78M	0	86.49M	0	-16.25M	0
Other Investing	-140.36M	-217.17M	-163.91M	-179.61M	-118.91M	-322.04M	-39.95M	-197.8M	-29.1M	-97.78M
Cash from Financing+	174.29M	210.11M	164.44M	115.8M	86.73M	316.36M	23.95M	167.6M	-62.13M	123.53M
Dividends Paid	0	0	-1.11M	-2.2M	-2.3M	-2.38M	-2.94M	-4.68M	-5.32M	-6.03M
Share Repurchases	0	0	0	0	-113K	-8.18M	-4.13M	-3.52M	-5.54M	-1.34M
Stock Issued	0	13.41M	37.48M	743K	113K	0	0	0	0	0
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	1000K	1000K	1000K	-1000K	1000K	1000K	-1000K	-1000K	-1000K	1000K
Other Financing	142.82M	156.19M	117.76M	118.72M	76.91M	263.82M	110.33M	180.16M	1.3M	88.05M
Net Change in Cash+	12.96M	-3.04M	13.09M	12.05M	26.36M	13.68M	59.03M	-28.59M	102.03M	43.96M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	20.37M	33.33M	30.29M	43.38M	55.43M	81.79M	95.47M	154.51M	125.92M	227.95M
Cash at End	33.33M	30.29M	43.38M	55.43M	81.79M	95.47M	154.51M	125.92M	227.95M	271.91M
Interest Paid	6.67M	9.4M	11.18M	17.77M	25.88M	20.14M	9.36M	11.04M	69.5M	97.64M
Income Taxes Paid	2.63M	2.88M	5.58M	4.18M	3.86M	6.71M	11.55M	10.72M	7.83M	4.7M
Free Cash Flow+	4.6M	8.7M	16.1M	35.13M	15.03M	24.15M	27.85M	34.97M	140.72M	24.72M
FCF Growth %	0.04%	0.89%	0.85%	1.18%	-0.57%	0.61%	0.15%	0.26%	3.02%	-0.82%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	5.82%	8.13%	5.55%	9.82%	6.38%	8.37%	14.04%	13.05%	6.33%	10.83%
Return on Assets (ROA)	0.51%	0.66%	0.55%	1.11%	0.72%	0.89%	1.46%	1.38%	0.66%	1.14%
Net Interest Margin	2.78%	2.69%	2.73%	3.21%	2.9%	2.96%	3.24%	3.38%	2.9%	3.24%
Efficiency Ratio	54.69%	45.88%	46.3%	43.72%	44.65%	42.27%	43.65%	41.58%	39.64%	32.05%
Equity / Assets	8.03%	8.27%	11.24%	11.39%	11.25%	10.15%	10.57%	10.6%	10.28%	10.82%
Book Value / Share	7.24	8.39	11.2	10.49	11.67	11.9	13.46	14.69	16.8	16.18
NII Growth	-	21.32%	37.23%	38.53%	6.23%	19.17%	17.74%	12.8%	13.15%	17.25%
Dividend Payout	-	-	15.82%	12.51%	17.11%	12.26%	8.29%	12.89%	25.46%	14.27%

Frequently Asked Questions

Valuation & Price

First Bank (FRBA) has a price-to-earnings (P/E) ratio of 10.2x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

First Bank (FRBA) grew revenue by 32.4% over the past year. This is strong growth.

Yes, First Bank (FRBA) is profitable, generating $38.3M in net income for fiscal year 2024 (18.4% net margin).

Dividend & Returns

Yes, First Bank (FRBA) pays a dividend with a yield of 1.40%. This makes it attractive for income-focused investors.

First Bank (FRBA) has a return on equity (ROE) of 10.8%. This is reasonable for most industries.

Industry Metrics

First Bank (FRBA) has a net interest margin (NIM) of 3.2%. This indicates healthy earnings from lending activities.

First Bank (FRBA) has an efficiency ratio of 32.0%. This is excellent, indicating strong cost control.

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