First Bank (FRBA)
NASDAQ:FRBA
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First Bank
(NASDAQ:FRBA)
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Rating:66Neutral
Price Target:
$16.50
▼(-3.06% Downside)
Action:DowngradedDate:04/29/26
The score is driven primarily by solid underlying financial performance and an attractive valuation (low P/E). These positives are moderated by a weak technical trend (trading below major moving averages) and a mixed earnings outlook, with credit-cost volatility and funding/margin pressures offsetting management’s improving loan growth and capital/buyback flexibility.
Positive Factors
Revenue growth and scale
Sustained top-line expansion and a clear step-up in 2025 indicate improving scale and franchise traction. Strong revenue growth supports diversification of income sources and capacity to absorb cyclical credit or funding shocks, underpinning multi-quarter earnings resilience.
Negative Factors
Elevated credit costs in small business book
Concentrated charge-offs in a sub-$100M small business portfolio and a spike in net charge-offs to $5M highlight underwriting and portfolio risk. Even if remediated, this raises structural uncertainty around credit loss variability and reserves, pressuring long-run earnings predictability.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue growth and scale
Sustained top-line expansion and a clear step-up in 2025 indicate improving scale and franchise traction. Strong revenue growth supports diversification of income sources and capacity to absorb cyclical credit or funding shocks, underpinning multi-quarter earnings resilience.
Read all positive factors
First Bank (FRBA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$375.01M
Dividend Yield1.41%
Average Volume (3M)62.62K
Price to Earnings (P/E)13.1
Beta (1Y)0.59
Revenue Growth7.99%
EPS Growth8.25%
CountryUS
Employees315
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)1.75
Shares Outstanding25,134,403
10 Day Avg. Volume92,400
30 Day Avg. Volume62,617
Financial Highlights & Ratios
PEG Ratio2.26
Price to Book (P/B)0.93
Price to Sales (P/S)1.66
P/FCF Ratio6.55
Enterprise Value/Market Cap1.56
Enterprise Value/Revenue2.36
Enterprise Value/Gross Profit4.25
Enterprise Value/Ebitda9.65
Forecast
1Y Price Target
$18.00Price Target Upside5.76% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)1.7
Revenue Forecast (FY)$150.48M
First Bank Business Overview & Revenue Model
Company Description
First 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 a...
How the Company Makes Money
null...
First Bank Earnings Call Summary
Earnings Call Date:Apr 27, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 28, 2026
Earnings Call Sentiment Neutral
The call presented a mixed picture: material challenges from elevated charge-offs and loan payoffs drove a disappointing quarter, but management characterized the issues as largely isolated to a sub-$100 million credit-scored small business portfolio that has been remediated via charge-offs, tightened underwriting, and increased specific reserves. Offsetting the near-term headwinds were strong capital levels, a healthy NIM (3.69%), a growing loan pipeline (probable fundings +15%), preliminary April loan growth (~$50M), top-quartile efficiency (27 consecutive quarters <60%), and the flexibility to pursue buybacks. Management expressed cautious optimism that profitability and loan growth can recover as payoffs normalize, while acknowledging deposit pricing and declining purchase accretion as potential margin risks.Positive Updates
Net Income and Profitability Metrics
Net income of $7.6 million for Q1 2026, or $0.30 per diluted share, yielding a 0.79% return on average assets.
Negative Updates
Earnings Below Expectations Driven by Small Business Credit Costs
Earnings for the quarter came in below management expectations, primarily due to elevated credit costs in the credit-scored small business portfolio.
Read all updates
Q1-2026 Updates
Positive
Negative
Net Income and Profitability Metrics
Net income of $7.6 million for Q1 2026, or $0.30 per diluted share, yielding a 0.79% return on average assets.
Read all positive updates
Company Guidance
Management guided that they expect loan growth to accelerate toward a $200 million 2026 target—pointing to roughly $50 million of net loan growth through mid‑April, $106 million funded in Q1, a $383 million probable funding pipeline (up 15% from year‑end) with 66.5% C&I, and Q1 payoffs of $73 million (after $135 million in Q4)—while aiming to keep NIM relatively stable around the Q1 level of 3.69% (Q1 loan yield down 21 bps, NIM down 5 bps QoQ) even as interest‑bearing deposit costs fell 15 bps in Q1 but face renewed pricing pressure (CDs moving from ~3.50% toward ~3.75%); purchase accounting accretion ( $1.2M in Q1 vs $2.6M a year ago) is expected to decline by roughly $0.1–0.2M per quarter, allowance for credit losses rose to ~1.39% of loans (up 1 bp) with $2M of specific reserves, net charge‑offs were $5M in Q1 (from $1.7M), noninterest expense ran ~$20.9M (efficiency ratio below 60% for 27 consecutive quarters) and is expected to be a stable run rate, tax rate is expected near 24–25%, and capital remains ample (able to execute the approved $20M buyback and still hold total risk‑based capital of ~12.5%).First Bank Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
69
Positive
Cash Flow
64
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 246.78M | 229.44M | 173.30M | 112.38M | 98.87M |
| Gross Profit | 136.26M | 128.68M | 95.86M | 94.62M | 89.88M |
| EBITDA | 57.30M | 59.47M | 30.01M | 49.44M | 48.30M |
| Net Income | 43.66M | 42.24M | 20.90M | 36.29M | 35.43M |
Balance Sheet | |||||
| Total Assets | 3.96B | 3.78B | 3.61B | 2.73B | 2.52B |
| Cash, Cash Equivalents and Short-Term Investments | 399.66M | 326.07M | 309.32M | 212.59M | 250.36M |
| Total Debt | 271.06M | 276.89M | 234.40M | 120.66M | 124.90M |
| Total Liabilities | 3.51B | 3.37B | 3.24B | 2.44B | 2.26B |
| Stockholders Equity | 443.50M | 409.16M | 370.90M | 289.56M | 266.67M |
Cash Flow | |||||
| Free Cash Flow | 62.66M | 24.72M | 140.72M | 34.97M | 27.85M |
| Operating Cash Flow | 65.56M | 27.63M | 143.84M | 36.88M | 28.04M |
| Investing Cash Flow | -155.11M | -107.20M | 20.33M | -233.07M | 7.04M |
| Financing Cash Flow | 126.85M | 123.53M | -62.13M | 167.60M | 23.95M |
First Bank Technical Analysis
Positive
17.02
Price Trends
16.29
Positive
16.41
Positive
16.06
Positive
Market Momentum
0.27
Negative
65.02
Neutral
70.25
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FRBA, the sentiment is Positive. The current price of 17.02 is above the 20-day moving average (MA) of 16.35, above the 50-day MA of 16.29, and above the 200-day MA of 16.06, indicating a bullish trend. The MACD of 0.27 indicates Negative momentum. The RSI at 65.02 is Neutral, neither overbought nor oversold. The STOCH value of 70.25 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FRBA.
First Bank Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $644.32M | 9.66 | 10.30% | 2.12% | 6.30% | 234.95% | |
73 Outperform | $519.34M | 7.87 | 10.21% | 2.96% | 4.52% | 19.77% | |
72 Outperform | $457.20M | 9.46 | 16.09% | 2.00% | 10.89% | 40.90% | |
69 Neutral | $566.49M | 6.43 | 6.16% | 5.87% | -19.77% | ― | |
68 Neutral | $418.83M | 11.99 | 11.26% | 3.76% | -30.41% | -412.21% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
66 Neutral | $375.01M | 13.05 | 10.20% | 1.41% | 7.99% | 8.25% |
* Financial Sector Average
FRBA
First Bank
14.58
0.24
1.66%
BMRC
Bank Of Marin Bancorp
25.78
5.40
26.50%
CWBC
Community West Bancshares
23.46
5.89
33.49%
CIVB
Civista Bancshares
24.64
2.25
10.06%
MSBI
Midland States Bancrop
25.97
9.24
55.27%
OBT
Orange County Bancorp
33.47
8.01
31.46%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.