First Bank (Nasdaq Global Market: FRBA) announced third-quarter results for 2025, with net income of $11.7 million, yielding $0.47 per diluted share. Total loans grew by $46.6 million to $3.37 billion, with total deposits at $3.22 billion. The bank saw an increase in net interest margin to 3.71% and a decline in nonperforming assets to 0.36%.

President and CEO, Patrick L. Ryan, expressed satisfaction with the bank’s performance, highlighting meaningful loan and deposit growth, resulting in net interest margin expansion. First Bank’s strategy focuses on commercial relationships, resulting in a 12.4% annualized increase in tangible book value per share. Despite strong growth, increased loan pay-offs may slow growth in the fourth quarter.

In the third quarter of 2025, the Bank’s net interest income increased to $35.5 million, with a credit loss expense of $3.0 million. Non-interest income was $2.4 million, and non-interest expense totaled $19.7 million. Income tax expense for the quarter was $3.6 million, with an effective tax rate of 23.4%.

Total assets increased by $252.3 million to $4.03 billion by September 30, 2025. First Bank maintained strong liquidity, with total deposits at $3.22 billion, showing significant growth in various deposit categories. Stockholders’ equity increased by $22.7 million during the nine months ended September 30, 2025.

The Bank recorded a credit loss expense totaling $3.0 million during the third quarter of 2025, primarily due to increases in net charge-offs related to the small business portfolio. Non-interest expenses increased to $19.7 million, mostly due to higher employee benefits and a larger employee base. The Bank remains well-capitalized, with strong liquidity and a Tier 1 Leverage ratio of 9.54%.

First Bank’s third-quarter results demonstrated solid financial performance, with increased net income and robust growth in loans and deposits. The bank’s focus on efficient growth and strategic initiatives has positioned it for continued success in the future. Shareholders can expect enhanced returns through prudent capital management and ongoing profitability.

Read more at GlobeNewswire: First Bank Announces Third Quarter 2025 Net Income of $11.7