First Bank Receives Investment Grade Rating from Kroll Bond Rating Agency
First Bank (FRBA)
Last first bank earnings: 4/27 04:30 pm
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US:NASDAQ Investor Relations:
firstbanknj.com/about/investor-relations.html
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Source: GlobeNewswire
HAMILTON, N.J., Aug. 29, 2019 (GLOBE NEWSWIRE) -- First Bank (Nasdaq Global Market: FRBA) today announced that the Bank has received favorable ratings from Kroll Bond Rating Agency (KBRA), a Nationally Recognized Statistical Rating Organization (NRSRO) registered with the U.S. Securities and Exchange Commission (SEC). The announcement was made by Patrick L. Ryan, President and Chief Executive Officer. The Bank received favorable ratings and a stable outlook with a Deposit rating of BBB+, Senior Unsecured Debt rating of BBB+, Subordinated Debt rating of BBB, Short-Term Deposit rating of K2 and a Short-Term Debt rating of K2. Additional details on KBRA’s rating scale can be found at their website at www.krollbondratings.com. According to KBRA’s report, the Company’s ratings are supported by management’s successful strategy execution – utilizing M&A and solid organic growth to build scale within footprint, which has resulted in improved operating leverage and enhanced profitability. K
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- 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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