First Bank provides various banking products and services to small and mid-sized businesses and individuals. It accepts various deposits, including non-interest- and interest-bearing demand deposits, money market accounts, savings accounts, and certificates of deposit, as well as commercial checking and cash management accounts. The company also offers various loan products, such as commercial and industrial loans, which include line of credit, inventory, equipment, and short-term working capital financing; commercial real estate loans comprising owner-occupied, investor, construction and development, and multi-family loans; residential real estate loans consisting of residential mortgages, first and second lien home equity loans, and revolving lines of credit; and consumer and other loans, such as auto, personal, traditional installment, and other loans. In addition, it provides electronic banking services, including Internet and mobile banking, electronic bill payment, and banking by phone; ATM and debit cards, and wire and ACH transfer services; remote deposit capture; and cash management services, as well as engages in the capital markets activities. The company operates full-service branches in Cinnaminson, Delanco, Denville, Ewing, Fairfield, Flemington, Hamilton, Lawrence, Monroe, Morristown, Pennington, Randolph, Somerset, Trenton, Williamstown, New Jersey; Coventry, Devon, Doylestown, Glen Mills, Lionville, Malvern, Paoli, Trevose, Warminster, and West Chester, Pennsylvania; and Palm Beach, Florida. First Bank was incorporated in 2007 and is headquartered in Hamilton, New Jersey.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $147M | - | $44M | $63M | 9.8% | 13.4% | 3.3% |
| 2024 | $130M | - | $42M | $25M | 10.3% | 25.1% | 102.2% |
| 2023 | $104M | - | $21M | $141M | 5.6% | 6.5% | -42.4% |
| 2022 | $97M | - | $36M | $35M | 12.5% | - | - |
| 2021 | - | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 97.49 | 103.80 | 129.85 | 147.20 |
| Operating Revenue | - | 97.49 | 103.80 | 129.85 | 147.20 |
| Selling General And Administration | - | 29.54 | 37.26 | 44.11 | 48.89 |
| Interest Income | - | 107.26 | 174.02 | 222.13 | 236.45 |
| Interest Expense | - | 14.89 | 69.50 | 99.58 | 98.63 |
| Net Interest Income | - | 92.37 | 104.52 | 122.55 | 137.82 |
| Pretax Income | - | 47.89 | 27.16 | 55.14 | 57.30 |
| Tax Provision | - | 11.60 | 6.26 | 12.90 | 13.64 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -0.11 | -1.86 | 0 | 0.09 |
| Net Income Continuous Operations | - | 36.29 | 20.90 | 42.24 | 43.66 |
| Net Income From Continuing And Discontinued Operation | - | 36.29 | 20.90 | 42.24 | 43.66 |
| Net Income From Continuing Operation Net Minority Interest | - | 36.29 | 20.90 | 42.24 | 43.66 |
| Net Income | - | 36.29 | 20.90 | 42.24 | 43.66 |
| Net Income Common Stockholders | - | 36.29 | 20.90 | 42.24 | 43.66 |
| Net Income Including Noncontrolling Interests | - | 36.29 | 20.90 | 42.24 | 43.66 |
| Normalized Income | - | 36.63 | 27.09 | 42.24 | 43.36 |
| Diluted NI Availto Com Stockholders | - | 36.29 | 20.90 | 42.24 | 43.66 |
| Basic Average Shares | - | 19.50 | 21.94 | 25.13 | 24.95 |
| Diluted Average Shares | - | 19.72 | 22.07 | 25.28 | 25.10 |
| Reconciled Depreciation | - | 1.56 | 2.85 | 4.32 | 4.21 |
| Total Unusual Items | - | -0.45 | -8.05 | 0 | 0.40 |
| Total Unusual Items Excluding Goodwill | - | -0.45 | -8.05 | 0 | 0.40 |
| Special Income Charges | - | -0.45 | -8.05 | 0 | 0 |
| Restructuring And Mergern Acquisition | - | 0.45 | 8.05 | 0 | 0 |
| Gain On Sale Of Security | - | 0 | -1.65 | -0.56 | 0 |
| General And Administrative Expense | - | 28.85 | 36.10 | 42.76 | 47.37 |
| Other Gand A | 2.26 | 0.48 | - | - | - |
| Salaries And Wages | - | 28.13 | 35.22 | 41.76 | 46.50 |
| Insurance And Claims | - | 0.73 | 0.88 | 0.99 | 0.87 |
| Selling And Marketing Expense | - | 0.68 | 1.16 | 1.36 | 1.52 |
| Occupancy And Equipment | - | 5.69 | 7.10 | 8.45 | 9.49 |
| Professional Expense And Contract Services Expense | - | 3.34 | 3.81 | 4.81 | 4.28 |
| Other Non Interest Expense | - | 7.71 | 12.47 | 16.16 | 15.34 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| First Bankthis co. | FRBA | $392M | 8.97β discount | 0.88 | 9.8% | - |
| West Bancorporation, Inc. | WTBA | $407M | 12.50 | 1.53 | 12.2% | - |
| RBB Bancorp | RBB | $406M | 12.71 | 0.78 | 6.1% | - |
| Commercial Bancgroup, Inc. | CBK | $400M | 10.75 | 1.40 | 13.0% | - |
| Investar Holding Corporation | ISTR | $395M | 17.24 |
| - |
| - |
| - |
| 1.46 |
| 8.5% |
| - |
| Pioneer Bancorp, Inc. | PBFS | $394M | 19.42 | 1.22 | 6.3% | - |
| Farmers & Merchants Bancorp, Inc. | FMAO | $384M | 11.66 | 1.03 | 8.9% | - |
| NewtekOne, Inc. | NEWT | $382M | 6.32 | 1.09 | 17.3% | - |
| Plumas Bancorp | PLBC | $375M | 12.66 | 1.44 | 11.3% | - |
| Peer Median | - | 12.58 | 1.31 | 10.1% | - | |