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First Bank
(NASDAQ:FRBA)
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Rating:70Outperform
Price Target:
$21.00
▲(16.80% Upside)
Action:Reiterated
Date:08/18/26
FRBA scores in the low-70s primarily because core financial stability (steady earnings, improving equity, moderate leverage) and a constructive technical uptrend are supported by a positive earnings-call backdrop (growth, efficiency, stable NIM guidance). The score is held back by multi-year margin compression, cash-flow volatility/TTM free-cash-flow decline, and identified pockets of credit and deposit-cost pressure.
Positive Factors
Loan and Deposit Growth
Strong loan production and deposit inflows indicate expanding commercial relationships and funding capacity. The sizeable pipeline and growth in noninterest-bearing deposits can support balance-sheet expansion while reducing reliance on wholesale funding over the medium term.
Negative Factors
Deposit Cost and Margin Pressure
Intense competition for deposits and greater use of higher-cost funding can compress the spread that drives most of the bank’s revenue. Declining acquisition accretion and repricing pressure may constrain margin expansion even if loan growth remains healthy.
Read all positive and negative factors
Positive Factors
Negative Factors
Loan and Deposit Growth
Strong loan production and deposit inflows indicate expanding commercial relationships and funding capacity. The sizeable pipeline and growth in noninterest-bearing deposits can support balance-sheet expansion while reducing reliance on wholesale funding over the medium term.
Read all positive factors
First Bank (FRBA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$457.70M
Dividend Yield1.82%
Average Volume (3M)62.62K
Price to Earnings (P/E)10.5
Beta (1Y)0.60
Revenue Growth4.37%
EPS Growth12.24%
CountryUS
Employees338
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)1.72
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 Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$19.67Price Target Upside9.38% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)1.57
Revenue Forecast (FY)$149.77M
First Bank Business Overview & Revenue Model
Company Description
First Bank offers a comprehensive array of financial products and services tailored for individuals, businesses, and governmental bodies. Its diverse deposit options encompass non-interest and interest-bearing demand accounts, money market and sav...
How the Company Makes Money
First Bank primarily makes money through net interest income and, to a lesser extent, noninterest income. Net interest income is earned from the spread between (a) interest and fees collected on interest-earning assets—mainly loans to commercial a...
First Bank Earnings Call Summary
Earnings Call Date:Jul 23, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 28, 2026
Earnings Call Sentiment Positive
The call emphasized several positive trends: meaningful quarter-over-quarter loan and deposit growth, a strong origination pipeline, improved credit costs, stable-to-healthy net interest margin, declining noninterest expense, and strong capital/efficiency metrics. Offsetting items include localized asset-quality pressure in a small-business credit-score portfolio and one CRE nonaccrual, ongoing deposit pricing competition and higher-cost funding for some new dollars, elevated payoff activity that partially offsets originations, and a modest decline in noninterest income. Overall, the operational and financial momentum (loan/deposit growth, improved credit costs, efficiency) outweighs the contained headwinds.Positive Updates
Strong Loan Growth and Robust Pipeline
Loans grew $68.0 million in Q2 (year-to-date growth $79.0 million) with management on track for a $200.0 million annual loan growth target. New loans closed and funded in Q2 totaled $174.0 million, up 64.0% from Q1 ($106.0 million). Probable fundings (pipeline) stood at $323.0 million at quarter-end (essentially flat vs. $325.0 million at March 31). C&I and owner-occupied loans comprised ~61.0% of new loan originations in H1.
Negative Updates
Small Business Credit-Score Portfolio Weakness
The credit-score small business portfolio showed continued softness: the quarter included additional charge-offs described as 'almost entirely related' to that portfolio. Management expects improvement over time after remediation efforts, but the segment remains a near-term credit concern.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong Loan Growth and Robust Pipeline
Loans grew $68.0 million in Q2 (year-to-date growth $79.0 million) with management on track for a $200.0 million annual loan growth target. New loans closed and funded in Q2 totaled $174.0 million, up 64.0% from Q1 ($106.0 million). Probable fundings (pipeline) stood at $323.0 million at quarter-end (essentially flat vs. $325.0 million at March 31). C&I and owner-occupied loans comprised ~61.0% of new loan originations in H1.
Read all positive updates
Company Guidance
Management guided to continued balance-sheet growth and stable profitability: they reiterated a $200 million loan growth target for 2026 (Q2 loans +$68M, YTD +$79M; Q2 new loans funded $174M, up 64% Q/Q; probable fundings ~$323M) and noted Q2 deposit inflows of ~$96M (noninterest-bearing +$45.1M; average interest-bearing +$41.4M) while total deposit cost was 2.42% (down 1 bp). They expect net interest margin to hold near 3.68% (Q2 NIM 3.68%, down 1 bp Q/Q; guidance: flat to down slightly, no more than 1–2 bps), with new loan yields roughly 6.5–6.75% and spot deposit pricing in the low 4% range (4.0–4.25%); acquisition-accounting accretion will continue to decline. Credit outlook: normalized provision/credit costs (credit loss expense down $3.3M Q/Q), ACL/loans ~1.38%, tangible common to tangible assets ~10.0%, and management expects continued improvement in the small-business portfolio. Expense and capital priorities: Q2 noninterest expense $20.1M (targeting noninterest expense to average assets <2.0% toward a 1.90% longer-term target), efficiency ratio 54.5% (28th consecutive <60%), net income $10.9M (EPS $0.43, ROA 1.09%), and capital/returns managed via ~ $5.5M of buybacks YTD (359k shares) plus a stable cash dividend and ongoing opportunistic repurchases.First Bank Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
68
Positive
Cash Flow
64
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 245.79M | 246.78M | 229.44M | 173.30M | 112.38M | 98.87M |
| Gross Profit | 136.14M | 136.26M | 128.68M | 95.86M | 94.62M | 89.88M |
| EBITDA | 59.45M | 61.52M | 59.47M | 30.01M | 49.44M | 48.30M |
| Net Income | 42.54M | 43.66M | 42.24M | 20.90M | 36.29M | 35.43M |
Balance Sheet | ||||||
| Total Assets | 4.09B | 3.96B | 3.78B | 3.61B | 2.73B | 2.52B |
| Cash, Cash Equivalents and Short-Term Investments | 36.95M | 399.66M | 326.07M | 309.32M | 212.59M | 250.36M |
| Total Debt | 276.00M | 271.06M | 276.89M | 234.40M | 120.66M | 124.90M |
| Total Liabilities | 3.63B | 3.51B | 3.37B | 3.24B | 2.44B | 2.26B |
| Stockholders Equity | 453.22M | 443.50M | 409.16M | 370.90M | 289.56M | 266.67M |
Cash Flow | ||||||
| Free Cash Flow | 50.73M | 62.66M | 24.72M | 140.72M | 34.97M | 27.85M |
| Operating Cash Flow | 52.79M | 65.56M | 27.63M | 143.84M | 36.88M | 28.04M |
| Investing Cash Flow | -72.62M | -155.11M | -107.20M | 20.33M | -233.07M | 7.04M |
| Financing Cash Flow | 26.45M | 126.85M | 123.53M | -62.13M | 167.60M | 23.95M |
First Bank Technical Analysis
Neutral
17.98
Price Trends
17.80
Positive
16.77
Positive
16.43
Positive
Market Momentum
0.16
Positive
46.99
Neutral
21.35
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FRBA, the sentiment is Neutral. The current price of 17.98 is below the 20-day moving average (MA) of 18.61, above the 50-day MA of 17.80, and above the 200-day MA of 16.43, indicating a neutral trend. The MACD of 0.16 indicates Positive momentum. The RSI at 46.99 is Neutral, neither overbought nor oversold. The STOCH value of 21.35 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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 |
|---|---|---|---|---|---|---|---|
77 Outperform | $463.24M | 11.54 | 13.90% | 0.60% | ― | ― | |
70 Outperform | $457.70M | 10.55 | 9.57% | 1.67% | 4.37% | 12.24% | |
70 Outperform | $455.83M | 12.96 | 9.04% | 2.15% | 16.31% | 4.61% | |
70 Outperform | $450.64M | 10.90 | 7.94% | 2.44% | 3.04% | 88.65% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
67 Neutral | $307.89M | 16.63 | 11.13% | ― | 20.00% | -8.28% | |
62 Neutral | $431.38M | 24.70 | 6.29% | ― | 16.32% | -16.91% |
* Financial Sector Average
FRBA
First Bank
17.97
1.64
10.02%
CBAN
Colony Bankcorp
21.18
4.47
26.71%
RBB
Rbb Bancorp
26.50
6.60
33.16%
PBFS
Pioneer Bancorp
17.38
4.32
33.14%
GBFH
GBank Financial Holdings
20.53
-20.88
-50.42%
CBK
Commercial Bancgroup, Inc.
34.24
10.42
43.71%
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.