First Bank · NASDAQ:FRBA
First Bank — Q3 2026 Earnings Presentation
26 slides from First Bank's earnings presentation, Oct 23, 2026
Slide 1: Q3 2026 Earnings Release Supplement
NASDAQ: FRBA Q3 2026 EARNINGS RELEASE SUPPLEMENT October 22, 2026 1
Slide 2: Legal Disclaimer
Legal Disclaimer FORWARD LOOKING STATEMENTS This presentation contains certain forward-looking statements, either express or implied, within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding First Bank’s future financial and
Slide 3: Investment Highlights
Investment Highlights Well-positioned balance sheet Strong earnings profile Attractive entry point I Limited interest rate risk: I Better than peer average Highlighted as a top investment efficiency ratio1 supports our idea by investment bank research I Short-duration loan portfolio and small bond p
Slide 4: Q3 2026 Snapshot
26 Network of 26 branches across the Q3 2026 Snapshot densely populated and wealthy NYC- Philadelphia corridor and Palm Beach County, FL $4.05 $3.42 $3.37 Billion in Assets Billion in Loans Billion in Deposits ROAA 1.18%1 ROAE 10.50%1 ROATE 11.79%1,2 Net Income $12.2 million BV per share $18.61 Tang
Slide 5: Our Continuing Evolution
Our Continuing Evolution FROM SMALL COMMUNITY BANK TO MIDDLE MARKET COMMERCIAL BANK 2023-Present EVOLUTION INTO MIDDLE 2020-2022 MARKET COMMERCIAL BANK FOCUSED ON DEPOSITS 2013-2019 AND PROFITABILITY I Continued commercial focus QUEST FOR IMPROVED SCALE I Expanded middle market 2008-2012 I Top quart
Slide 6: A Business Model and Core Values That Generate Results
A Business Model and Core Values That Generate Results CORE SPECIALIZED STRATEGIC STRONG COMMUNITY BANK BUSINESS UNITS M&A PERFORMANCE1 I Relationship-driven community I Private Equity Fund Banking I Disciplined acquisition strategy bank model, with resiliency and with a demonstrated ability to I Be
Slide 7: Track Record of Profitable Organic Growth and Accretive M&A
Track Record of Profitable Organic Growth and Accretive M&A Paycheck Protection Program (PPP) IPO and Central Heritage NJ organic acquisition expansion * (1) Employees shown as full-time equivalents (FTEs). (2) 2023 Net Income and Diluted EPS are adjusted. These adjusted numbers are non-GAAP financi
Slide 8: Disciplined M&A Strategy Has Driven Growth and Enhanced Our Franchise Value
Disciplined M&A Strategy Has Driven Growth and Enhanced Our Franchise Value Heritage Community Bank March September April September July DATE CLOSED 2014 2017 2018 2019 2023 ASSETS ACQUIRED $132.3 $196.0 $118.1 $190.2 $953.8 (IN MILLIONS) BRANCHES ACQUIRED 3 4 2 2 8 PRIMARY MARKET LOCATION Morris Co
Slide 9: Specialized Business Units Continue to Diversify Our Loan Mix
Specialized Business Units Continue to Diversify Our Loan Mix ASSET BASED LENDING I Flexible asset-based solutions provided for: financing of inventory, receivables, capital improvements, recapitalizations, acquisitions, equipment and real estate I Disciplined underwriting standards with no factorin
Slide 10: Strong EPS Drives TBVPS Expansion During 2025 and into 2026
Strong EPS Drives TBVPS Expansion During 2025 and into 2026 16.5% 7.5% CAGR CAGR (1) EPS is diluted earnings per share. Adjusted diluted EPS, excluding primarily the impact of the Malvern Tangible book value per share is a non-GAAP financial measure that we believe provides Bank acquisition, would h
Slide 11: Strong Financial Performance Compared to Peers
Strong Financial Performance Compared to Peers PERFORMANCE HIGHLIGHTS (2) (1) I ROAA outperformed our peers in 4 of the last 7 years I First Bank results were impacted by merger-related expenses in 2019 and 2023 in which peers outperformed DRIVERS OF PERFORMANCE I Exceptional expense management (2)
Slide 12: Solid Geographic Diversification Within Our Attractive Footprint
Solid Geographic Diversification Within Our Attractive Footprint I Wealthy, densely populated markets in the New York – Philadelphia corridor Deposits in Deposit I Tremendous opportunities for growth in our markets Market Market Market Median I One of the most attractive markets for small businesses
Slide 13: Growing Core Deposits
Growing Core Deposits 11.2% CAGR I Deposit initiatives are at the forefront of our growth strategy, with sales teams focused on core deposit generation I Deposits increased $43 million during Q3 2026 as we continued to focus on building new deposit relationships and optimizing the existing portfolio
Slide 14: Stable and Relationship-Driven Core Deposit Base
Stable and Relationship- Driven Core Deposit Base AVERAGE DEPOSIT ACCOUNT SIZE BY CUSTOMER TYPE As of September 30, 2026 Commercial $128,000 Consumer $44,000 Government Banking $1.43 million 14
Slide 15: Portfolio Is Well-Diversified Across Key Commercial Categories
Portfolio Is Well-Diversified Across Key Commercial Categories 10.7% I Growing C&I loans to further CAGR diversify the loan portfolio, creating new deposit growth channels I Continually building out enterprise risk management function, including enhanced stress testing capabilities I Commitment to p
Slide 16: Balanced Geographic Diversification Within Our Footprint
Balanced Geographic Diversification Within Our Footprint TOTAL LOANS BY GEOGRAPHY As of September 30, 2026 ($ in Millions) Total Loans $3,426M *CREI includes multi-family. Consumer and other includes residential, consumer and all other loans. Geographic diversification is based on the location of bu
Slide 17: Long-Term Track Record of Stable Asset Quality
Long-Term Track Record of Stable Asset Quality CREDIT QUALITY HIGHLIGHTS I NPAs/Assets below peers in 7 of the last 10 years I NPAs/Assets 10-year average of 0.59% compared to 0.61% peer average (2) I NPLs/Total Loans below peers in 8 of the last 10 years I NCOs/Avg Loans 10-year average of 0.07% co
Slide 18: Long-Term Track Record of Stable Asset Quality
Long-Term Track Record of Stable Asset Quality CREDIT QUALITY HIGHLIGHTS I Criticized Loans/Total Loans below peers in 6 of the last 10 years I Criticized loans/Total Loans 10-year average of 2.15% (1) compared to 2.31% peer average I Criticized Loans/Total Capital below peers in 5 of the last 10 ye
Slide 19: C&I and CREO Loans are Well-Diversified Across Industry Segments
C&I and CREO Loans are Well-Diversified Across Industry Segments Commercial (C&I and CREO) Loan Segments ($ in millions) Manufacturing 161 Retail Trade 143 Wholesale Trade 143 Food Services 118 I C&I and CREO loans represent 44% of total loans Real Estate, Rental and Leasing 117 Finance and Insuranc
Slide 20: Well-Diversified CREI Portfolio
Well-Diversified CREI Portfolio RETAIL, MULTI-FAMILY AND INDUSTRIAL COMPRISE THE LARGEST SEGMENTS I No direct office exposure in downtown business districts in NYC or Philadelphia I No NYC rent-controlled multi-family Office Loans By Region $ in millions Eastern PA $87.3 Central New Jersey 64.6 Nort
Slide 21: Ample Available Liquidity
Ample Available Liquidity I Rigorous stress testing is performed quarterly and AVAILABLE LIQUIDITY includes both systemic and bank-specific scenarios September 30, 2026 December 31, 2025 I Quarterly liquidity stress testing indicated sufficient ($ in thousands) liquidity under the modeled severe sce
Slide 22: Strong and Stable Net Interest Margin in Varying Rate Environments
Strong and Stable Net Interest Margin in Varying Rate Environments (1) (1) (3) (2) I NII has limited exposure to changes in interest rates (1) The table above sets forth First Bank’s exposure to interest rate risk as measured by the change in NII for the next twelve months with a static balance shee
Slide 23: Risk Mitigation is an Integral Part of Our Strategy
Risk Mitigation is an Integral Part of Our Strategy Prudent underwriting has contributed to limited credit Stable capital stress test results issues, while credit metrics have remained stable I Under a severely adverse case scenario with a static balance I Long-term track record for strong asset qua
Slide 24: Appendix
Appendix 24
Slide 25: Non-GAAP Financial Measures
Non-GAAP Financial Measures (Dollars in thousands, except per share amounts) 25 For the quarter end September 30, 2026. (1) Annualized.
Slide 26: Non-GAAP Financial Measures
Non-GAAP Financial Measures Year Ended (Dollars in thousands, except per share amounts) 12/31/2023 Adjusted diluted earnings per share, Adjusted return on average assets, and Adjusted return on average equity Net income $ 20,897 (1) Add: Merger-related expenses 6,358 (1) Add: Credit loss expense on