First Bank Announces Fourth Quarter 2023 Net Income of $8.4 Million and Full Year Net Income of $20.9 Million
First Bank (FRBA)
Last first bank earnings: 4/27 04:30 pm
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US:NASDAQ Investor Relations:
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Source: GlobeNewswire
HAMILTON, N.J., Jan. 24, 2024 (GLOBE NEWSWIRE) -- First Bank (Nasdaq Global Market: FRBA) (the Bank) today announced results for the fourth quarter and full year 2023. Net income for the fourth quarter of 2023 was $8.4 million, or $0.33 per diluted share, compared to $9.1 million, or $0.46 per diluted share, for the fourth quarter of 2022. Return on average assets, return on average equity and return on average tangible equityi for the fourth quarter of 2023 were 0.93%, 9.06% and 10.67%, respectively, compared to 1.35%, 12.61% and 13.53%, respectively, for the fourth quarter of 2022. Excluding merger-related expenses and losses on the sale of loans and investments, First Bank’s fourth quarter 2023 adjusted diluted earnings per shareii were $0.49, adjusted return on average assetsii was 1.38% and adjusted return on average tangible equityii was 15.75%. Full year 2023 net income was $20.9 million, or $0.95 per diluted share, compared to $36.3 million, or $1.84 per diluted share for 2
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News
- First Bank (NASDAQ: FRBA) had its price target lowered by analysts at Piper Sandler from $16.00 to $15.00. They now have an "overweight" rating on the stock.MarketBeat
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