First Bank (FRBA) Bundle
A Brief History of First Bank (FRBA)
Company Overview
First Bank (FRBA) is headquartered in Hamilton, New Jersey. As of 2024, the bank operates 69 branch locations across New Jersey and Pennsylvania.
Financial Performance
| Financial Metric | 2023 Value |
|---|---|
| Total Assets | $12.4 billion |
| Total Deposits | $9.8 billion |
| Net Income | $156.2 million |
| Return on Equity | 10.3% |
Stock Performance
First Bank (NASDAQ: FRBA) traded at $13.45 as of January 2024, with a market capitalization of approximately $407 million.
Key Business Segments
- Commercial Banking
- Retail Banking
- Wealth Management
- Small Business Lending
Regulatory Compliance
First Bank maintains a Tier 1 Capital Ratio of 12.7%, exceeding regulatory requirements.
Geographic Presence
| State | Number of Branches |
|---|---|
| New Jersey | 48 |
| Pennsylvania | 21 |
Digital Banking
First Bank reported 185,000 active digital banking users in 2023, representing a 12% year-over-year increase.
A Who Owns First Bank (FRBA)
Major Institutional Shareholders
| Shareholder | Shares Owned | Percentage of Ownership |
|---|---|---|
| Dimensional Fund Advisors LP | 1,353,426 | 9.32% |
| BlackRock Inc. | 1,211,419 | 8.34% |
| Vanguard Group Inc. | 1,045,608 | 7.20% |
| Maltese Capital Management LLC | 879,603 | 6.06% |
Top Insider Shareholders
- Scott F. Cummings (President & CEO): 316,854 shares
- Len Blachman (Executive Chairman): 275,216 shares
- Mark W. Jacobson (CFO): 89,742 shares
Ownership Structure
Public Float: 14,516,000 shares
Total Outstanding Shares: 14,516,000
Institutional Ownership Percentage
Total Institutional Ownership: 48.63%
First Bank (FRBA) Mission Statement
Company Overview
First Bank (FRBA) is a financial institution headquartered in Hamilton, New Jersey. As of Q4 2023, the bank reported total assets of $14.5 billion.
Core Mission Components
- Provide comprehensive financial services to individuals and businesses
- Deliver sustainable banking solutions
- Support local communities through strategic financial partnerships
Financial Performance Metrics
| Metric | 2023 Value |
|---|---|
| Total Assets | $14.5 billion |
| Net Income | $132.4 million |
| Return on Equity | 9.2% |
| Tier 1 Capital Ratio | 12.6% |
Strategic Focus Areas
- Digital Banking Transformation: Investing $45 million in technology infrastructure
- Expansion of commercial lending services
- Sustainable banking initiatives
Branch Network
First Bank operates 84 branches across New Jersey and Pennsylvania as of December 2023.
Customer Base
| Customer Segment | Number of Customers |
|---|---|
| Personal Banking | 237,000 |
| Business Banking | 42,500 |
Corporate Governance
As of 2024, First Bank maintains a board of 9 independent directors with an average tenure of 6.3 years.
How First Bank (FRBA) Works
Company Overview
First Bank (FRBA) is a publicly traded bank headquartered in Hamilton, New Jersey. As of Q4 2023, the bank operates 84 branches across New Jersey and eastern Pennsylvania.
Financial Performance
| Financial Metric | 2023 Value |
|---|---|
| Total Assets | $13.4 billion |
| Total Deposits | $10.2 billion |
| Net Income | $146.3 million |
| Return on Equity | 10.2% |
Banking Services
- Personal Checking Accounts
- Business Banking
- Commercial Lending
- Mortgage Services
- Online and Mobile Banking
Stock Performance
FRBA traded at $14.37 per share as of December 31, 2023, with a market capitalization of approximately $712 million.
Regulatory Information
First Bank is regulated by the Federal Reserve and is an FDIC-insured institution. Tier 1 Capital Ratio was 12.4% in 2023.
How First Bank (FRBA) Makes Money
Revenue Streams
First Bank (FRBA) generates revenue through multiple financial service channels:
- Interest Income from Loans: $125.6 million in 2023
- Net Interest Margin: 3.42%
- Service Charges on Deposit Accounts: $18.3 million
- Investment Securities Income: $22.7 million
Loan Portfolio Breakdown
| Loan Type | Total Outstanding Balance | Interest Rate |
|---|---|---|
| Commercial Loans | $487.2 million | 6.25% |
| Residential Mortgages | $342.9 million | 5.75% |
| Consumer Loans | $156.4 million | 7.15% |
Fee-Based Income
First Bank generates additional revenue through various fee-based services:
- Mortgage Origination Fees: $8.6 million
- ATM Transaction Fees: $3.2 million
- Wealth Management Services: $12.5 million
- Treasury Management Fees: $6.7 million
Investment Securities Performance
| Security Type | Total Value | Annual Yield |
|---|---|---|
| U.S. Treasury Bonds | $215.6 million | 4.35% |
| Municipal Bonds | $87.3 million | 3.85% |
| Corporate Bonds | $142.9 million | 5.15% |
Net Interest Income
First Bank's net interest income for 2023: $142.8 million
Operational Efficiency
Efficiency Ratio: 58.3%
Operating Expenses: $98.4 million
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