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First Bank (FRBA)
NASDAQ:FRBA
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Earnings Data
Report Date
Jan 23, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0.39Last Year’s EPS
0.5Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 22, 2018
|% Change Since: 10.11%
|Next Earnings Date:Jul 23, 2018
Earnings Call Sentiment|Positive
The earnings call reflected a positive sentiment with strong financial performance, loan and deposit growth, and improved net interest margin outweighing the minor concerns about noninterest income and expenses.Company Guidance
During the Fourth Quarter 2024 Earnings Call for First Bank, executives provided comprehensive guidance on the bank's financial performance and future outlook. The bank reported a net income of $10.5 million, or $0.41 per diluted share, with a return on average assets (ROAA) of 1.10%, an improvement from prior periods. The bank's loan portfolio grew by 7% on an annualized basis, with commercial and industrial (C&I) and owner-occupied commercial real estate loans driving this growth. The net interest margin increased to 3.54%, supported by a reduction in deposit and borrowing costs. The bank's efficiency ratio improved to 57%, and tangible book value per share expanded by 10% annualized from Q3 2024. First Bank's strategic initiatives, including its Banking as a Service unit and new fintech partnerships, are expected to drive future growth. Additionally, the bank has maintained a strong asset quality, with nonperforming assets to total assets declining to 0.46%, and a robust coverage ratio for credit losses at 323%. Looking ahead, the bank plans to continue its focus on profitable relationship growth, expense management, and strategic investments, including a share buyback program with 900,000 shares remaining under its approved plan.Strong Annual Financial Performance
First Bank earned $42.2 million or $1.67 per diluted share in 2024, representing a 13% annualized increase in core EPS over the last 10 years. Tangible book value also more than doubled in the same period.
Loan Portfolio Growth
Loans were up over 7% annualized from the third quarter, with a year-over-year growth of $123 million or 4%. This growth was driven by commercial and industrial and owner-occupied commercial real estate loans.
Improved Net Interest Margin
Net interest margin increased to 3.54% in the fourth quarter from 3.48% in the prior quarter, with interest-bearing deposit costs declining by 20 basis points.
Successful Deposit Growth
Total deposits grew by $88.3 million or 3% from the end of 2023, driven by new deposit relationships and retaining existing balances.
High Coverage Ratio for Nonperforming Loans
Allowance for credit loss to total loans stands at a 323% coverage ratio for nonperforming loans, the highest in the local peer bank survey.
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FRBA Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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FRBA Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Jan 23, 2025 | $13.94 | $14.44 | +3.59% |
| Oct 23, 2024 | $14.91 | $14.17 | -4.96% |
| Jul 24, 2024 | $14.80 | $15.06 | +1.76% |
| Apr 22, 2024 | $12.33 | $12.16 | -1.38% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does First Bank (FRBA) report earnings?
First Bank (FRBA) is schdueled to report earning on Jan 23, 2025, TBA Not Confirmed.
What is First Bank (FRBA) earnings time?
First Bank (FRBA) earnings time is at Jan 23, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is FRBA EPS forecast?
FRBA EPS forecast for the fiscal quarter 2025 (Q1) is 0.39.
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