First Bank Q2 Net Income Rises to $10.9M, EPS $0.43, on Strong Loan and Deposit Growth
FRBA sits 21% above its 52-week low of $14.405.
Summary
First Bank reported Q2 2026 net income of $10.9 million, or $0.43 per diluted share, up from $10.2 million and $0.41 a year ago. Loan growth was robust at 8.3% annualized, with C&I and owner-occupied CRE loans up a combined $83 million. Deposits grew 12% annualized, and the efficiency ratio improved to 54.52%, the 28th consecutive quarter below 60%. Tangible book value per share rose to $16.27, up 9.5% annualized. Credit costs fell to the lowest in five quarters, though non-performing assets ticked up on one CRE credit. This follows a Q1 2026 net income of $7.6 million, indicating a sharp sequential rebound. The strong operating leverage and improving credit trends support the positive sentiment.
At the time of this announcement, FRBA was trading at $17.49 on NASDAQ in the Finance sector, with a market capitalization of approximately $439.6M. The 52-week trading range was $14.41 to $18.45. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.