1st Colonial Bancorp, Inc. Reports First Quarter 2024 Net Income
1ST COLONIAL BANCORP INC (FCOB)
NASDAQ:AMEX Investor Relations:
www2.snl.com/irweblinkx/corporateprofile.aspx?iid=4074177
Company Research
Source: Business Wire
Income Statement Highlights include:Net income was $1.6 million, for the first quarter of 2024, compared to net income of $1.5 million for the first quarter of 2023 and $2.1 million for the fourth quarter of 2023.Net interest income for the quarter ended March 31, 2024 was $6.3 million, a decrease of $194 thousand, or 3%, from the same period in 2023.Net interest margin for the quarter ended March 31, 2024 was 3.31%, a 6% decrease from the same period in 2023, and up 1% from the quarter ended December 31, 2023.Noninterest income for the quarter ended March 31, 2024 was $721 thousand, an increase of $267 thousand, or 59%, from the comparable quarter in 2023 and up $2 thousand from $719 thousand for the quarter ended December 31, 2023.Noninterest expense for the quarter ended March 31, 2024 was $4.8 million, a decrease of $91 thousand, or 2%, from the same period in 2023.Annualized return on average assets for the first quarter of 2024 and 2023, was 0.80%, compared to 1.07% for the four
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