First Bank (FRBA) Earnings
First Bank is expected to report next earnings on July 24, 2026 (in NaN days), with a consensus EPS estimate of $0.40. FRBA has beaten EPS estimates in 6 of its last 12 reported quarters (average surprise -9.7% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 28, 2026 | $0.47 | $0.30 | -36.2% | $36M | -1.6% |
| Jan 26, 2026 | $0.49 | $0.49 | +0.0% | $40M | +7.6% |
| Oct 22, 2025 | $0.46 | $0.47 | +2.2% | $38M | +3.3% |
| Jul 22, 2025 | $0.43 | $0.41 | -4.7% | $37M | +3.2% |
| Apr 22, 2025 | $0.39 | $0.37 | -5.1% | $34M | +1.6% |
| Jan 23, 2025 | $0.39 | $0.42 | +7.7% | $34M | +3.2% |
| Oct 23, 2024 | $0.40 | $0.32 | -20.0% | $33M | +3.2% |
| Jul 24, 2024 | $0.40 | $0.44 | +10.0% | $31M | +1.3% |
| Jan 24, 2024 | $0.37 | $0.49 | +32.4% | $28M | -5.3% |
| Oct 25, 2023 | $0.23 | $0.42 | +82.6% | $29M | +2.6% |
| Jul 26, 2023 | $0.26 | $0.36 | +38.5% | $23M | -21.6% |
| Jan 25, 2023 | $0.54 | $0.46 | -14.8% | $25M | -5.6% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · April 28, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
· Earnings came in below expectations with elevated credit costs in small business portfolio and loan payoffs impacting results. · Revamped product parameters and sales processes for small business portfolio. · Net interest margin down slightly due to reduced purchase accounting accretion and deposit competition. · Credit quality manageable with non-performing assets and criticized loans within historical norms. · Expect return to strong balance sheet growth as payoffs normalize. · Net loan growth up $50M by mid-April. · Expenses elevated due to seasonal factors but expected stable. · Strong capital levels for share buybacks. · Deposit growth modest with seasonal factors, but focus on growth and cost discipline. · Loan growth impacted by payoffs but pipeline strong with 383M probable fundings. · Small business portfolio issues addressed with process revamps and tightened parameters.
Guidance
· Anticipate stronger loan and deposit growth to increase net interest income. · Expect continued declines in acquisition accounting creation. · See enhanced deposit pricing pressure. · Aim to maintain relatively stable margin with potential pressure if yield curve flat. · Expect expense level in first quarter as reasonable run rate and efficiency ratio to move down. · Plan to drive shareholder value through core earnings, dividend, and share buybacks. · Deposit growth priority to fund loan growth and maintain margin. · Confident of $200M loan portfolio growth this year with all segments contributing.
Segment performance
For the three months ended March 31st, 2026, net income was 7.6 million or 30 cents per diluted share. Net interest income decreased 2.2 million compared to the fourth quarter. Net charge-offs increased to $5 million for the first quarter. Noninterest income grew to 2.4 million. NONESIS expenses were $20.9 million. Tax expenses total $2.3 million. Deposit growth was 25.1 million. Loans closed and funded in Q1 totaled $106 million. Payoffs in Q1 were $73 million. The small business portfolio was a key driver of credit costs. Net interest margin was down slightly. Allowance for credit losses to total loans increased one basis point. Noninterest expense increase was due to seasonal factors. Deposit costs came down 15 basis points. Loan pipeline at quarter end was 383 million, up 15% from year end.
Risks & headwinds
· Elevated credit costs in small business portfolio. · Loan payoffs impacting loan growth and earnings. · Deposit pricing pressure from industry competition. · Volatility in interest rates affecting net interest margin. · Uncertainty in resolution of large commercial real estate credit.
Analyst Q&A
Q: Spend more time on small business portfolio weakness, drivers and containment.
A: Weakness due to general economic factors and aggressive marketing. Processes revamped, production slowed. Reserves allocated, performance expected better.
Q: Clarify small business portfolio not SBA related, reserves and charge off rates.
A: Not SBA related, ~$2M specific reserves, charge off rates higher than desired but expected to improve.
Q: Detail NIM stability, new loan yields vs rolling off, repricing opportunity.
A: New loan yields 6-6.5%, loan repricing offsets purchase accounting accretion declines, 25% floating rate exposure.
Q: Floating rate repricing lag and interest rate floors.
A: Most 25% floating rate reprice soon, some interest rate swaps, floors exist.
Q: Expenses seasonally higher, run rate moving forward.
A: Q1 expense level reasonable, stable run rate expected.
Q: Balance expenses with investment, tech adoption.
A: Strategic incremental investments in AI, fixed-price contracts, savings expected.
Q: View on excess capital and buyback.
A: Strong capital levels, buyback available.
Q: Growth in other business segments, stress in private equity/ABL.
A: Other segments performing well, measured growth expected.
Q: Details on larger commercial real estate credit.
A: Participant with larger bank, strong asset but timing of resolution tied to corporate restructuring.
Q: Deposit pricing competition, spot rate and marginal cost.
A: Deposit costs stable with slight pressure, need to be competitive in second quarter.
Q: Compensation expense, competition or opportunistic hiring.
A: Standard salary increases, seasonal factors in Q1.
Q: Net loan growth split, year-to-date growth.
A: Growth consistent with portfolio composition, chunkier loans in CNI owner occupied.