First Bank Reports Third Quarter 2018 Net Income of $5.4 Million
First Bank (FRBA)
Last first bank earnings: 4/27 04:30 pm
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Source: GlobeNewswire
Year-To-Date Net Income of $13.5 Million up 111% Over Prior Year Continued Solid Loan Origination and Stable and Favorable Asset Quality Metrics, Strong Revenue Growth and Period-End Capital HAMILTON, N.J., Oct. 22, 2018 (GLOBE NEWSWIRE) -- First Bank (NASDAQ:FRBA) today announced results for the three and nine months ended September 30, 2018. The results reflected strong net interest income growth and increased non-interest income along with effective non-interest expense management, which contributed to a $3.0 million increase in net income for the third quarter and a $7.1 million increase for the first nine months of the year, compared to the same periods in 2017. Net income for the third quarter of 2018 was $5.4 million, or $0.29 per diluted share, compared to $2.5 million, or $0.16 per diluted share, for the third quarter of 2017. Return on average assets and return on average equity for the third quarter of 2018 were 1.28% and 11.45%, respectively, compared to 0.80% and 7.
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