First Bank ( (FRBA) ) has released its Q3 earnings. Here is a breakdown of the information First Bank presented to its investors.
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First Bank is a New Jersey state-chartered bank operating primarily in the New York to Philadelphia corridor, with a branch in Florida, offering a range of deposit and loan products. In the third quarter of 2025, First Bank reported a net income of $11.7 million, a significant increase from the $8.2 million reported in the same quarter of 2024, driven by strong net interest margin and operating efficiency. Key financial highlights include a 5.6% annualized growth in total loans to $3.37 billion and a 6.9% annualized increase in total deposits to $3.22 billion. The net interest margin improved to 3.71%, and the efficiency ratio decreased to 51.81%, indicating improved operational efficiency. The bank also reported a tangible book value per share increase to $15.33, reflecting a 12.4% annualized growth. Looking forward, First Bank anticipates continued balance sheet growth and plans to enhance shareholder returns through strategic capital management initiatives.