First Bank Reports Third Quarter 2019 Net Income of $2.9 Million
First Bank (FRBA)
Last first bank earnings: 4/27 04:30 pm
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Source: GlobeNewswire
Net Income is $10.0 Million for the First Nine Months of 2019 Strong Organic Loan and Deposit Growth, Effective Expense Management,Grand Bank Merger Completed, Total Assets Exceed $2.0 Billion HAMILTON, N.J., Oct. 29, 2019 (GLOBE NEWSWIRE) -- First Bank (Nasdaq Global Market: FRBA) today announced results for the three and nine months ended September 30, 2019. Net income for the third quarter of 2019 was $2.9 million, or $0.15 per diluted share, compared to $5.4 million, or $0.29 per diluted share, for the third quarter of 2018. Return on average assets and return on average equity for the third quarter of 2019 were 0.61% and 5.58%, respectively, and 1.28% and 11.45%, respectively, for the third quarter of 2018. Net income for the first nine months of 2019 was $10.0 million, or $0.53 per diluted share, compared to $13.5 million, or $0.73 per diluted share, for the same period in 2018. First Bank’s third quarter 2019 adjusted diluted earnings per share1 was $0.18, adjusted return
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