FRBA - First Bank GAAP EPS of $0.45 beats by $0.02 revenue of $24.37M beats by $0.64M
- First Bank press release ( NASDAQ: FRBA ): Q2 GAAP EPS of $0.45 beats by $0.02 .
- Revenue of $24.37M (+11.8% Y/Y) beats by $0.64M .
- Total loans of $2.22 billion on June 30, 2022, reflected growth of $68.5 million, or 3.2%, from the end of the first quarter of 2022 and were up $108.2 million, or 5.1%, from December 31, 2021. Loan growth, excluding the decline in Paycheck Protection Program ( PPP ) loans, totaled $84.0 million in the second quarter of 2022, representing a 15.8% annualized increase.
- Total deposits of $2.17 billion on June 30, 2022, were down $12.7 million, or 0.6%, from the end of the linked first quarter and up $50.6 million, or 2.4%, from December 31, 2021.
- Asset quality metrics remained solid during the quarter, with annualized net charge offs to average loans of 0.07% and nonperforming loans to total loans of 0.57% as of June 30, 2022, compared to 0.62% on December 31, 2021, and 0.59% on March 31, 2022.
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First Bank GAAP EPS of $0.45 beats by $0.02, revenue of $24.37M beats by $0.64M