First Bank reports Q1 EPS 37c, consensus 39c

Reports Q1 revenue $34.06M, consensus $33.52M. Reports Q1 tangible book value per share $14.47. “We are pleased to report high-quality loan and deposit growth in the first quarter of 2025,” Patrick Ryan, president and CEO of First Bank (FRBA), reflecting on the Bank’s performance. “Our team produced excellent Commercial and Industrial loan growth during the quarter with an improved net interest margin and sustained asset quality. We are especially pleased to have achieved this with an efficiency ratio that remained below 60% for the 23rd consecutive quarter, and with continued growth in our primary areas of focus. Our recent and ongoing investments in technology and new C&I lending and deposit-focused business units are building scale and bearing fruit, as reflected in our 10.8% year-over-year increase in tangible book value per share.”