First Bank Announces Third Quarter 2026 Net Income of $12.2 Million
First Bank reported Q3 2026 net income of $12.2 million, or $0.49 per diluted share, up from $0.43 in the linked quarter and $0.47 a year ago, with ROA of 1.18% and ROTCE of 11.79%. Margin expanded to 3.74% NIM on 5.9% annualized loan growth (to $3.42B) and 5.1% annualized deposit growth (to $3.37B), while the bank paid down $90.1M of borrowings and ran a 52.37% efficiency ratio — its 29th straight quarter below 60%. The board raised the quarterly dividend 33% to $0.12 per share and authorized a new buyback of up to 1.2 million shares ($24.0 million) expiring September 30, 2027.
Key figures
- Eps
- 0.49
- Revenue
- 38756000
- Guidance
- future effective tax rate expected approximately 23% to 25%
- Nim
- 3.74%
- Roa
- 1.18%
- Roe
- 10.50%
- Rotce
- 11.79%
- Net income
- 12165000
- Total loans
- 3422000000
- Total assets
- 4050000000
- Total deposits
- 3367000000
- Allowance ratio
- 1.37% of total loans
- Net charge offs
- 1892000
- Efficiency ratio
- 52.37%
- Nim prior quarter
- 3.68%
- Dividend per share
- 0.12
- New buyback shares
- 1200000
- Credit loss expense
- 2249000
- Net interest income
- 36757000
- Nonperforming assets
- 35682000
- Dividend increase pct
- 33%
- Loan growth linked qtr
- $50.2 million, or 5.9% annualized
- Net income prior quarter
- 10858000
- Deposit growth linked qtr
- $43.0 million, or 5.1% annualized
- New buyback authorization
- 24000000
- Net income prior year quarter
- 11715000
- Tangible book value per share
- 16.59
AI analysis
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