First Bank Reports Fourth Quarter 2018 Net Income of $4.1 Million
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
Full Year 2018 Net Income of $17.6 Million Compared to $7.0 Million in 2017 For the Fourth Quarter and Full Year 2018: Continued Strong Organic Loan Growth; Stable and Favorable Asset Quality Metrics HAMILTON, N.J., Jan. 24, 2019 (GLOBE NEWSWIRE) -- First Bank (Nasdaq Global Market: FRBA) today announced results for the fourth quarter and full year 2018. Net income for fourth quarter 2018 was $4.1 million, or $0.22 per diluted share, compared to $583,000 or $0.03 per diluted share for the fourth quarter of 2017. Return on average assets and return on average equity for the fourth quarter of 2018 were 0.94% and 8.42%, respectively. Fourth quarter 2017 return on average assets and return on average equity were 0.16% and 1.40%, respectively. During the fourth quarter of 2017, First Bank recognized a one-time charge to income tax expense of approximately $2.6 million, or $0.15 per diluted share, as a result of the federal tax legislation that lowered corporate statutory income tax ra
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