FRBA - First Bank GAAP EPS of $0.46 misses by $0.08 revenue of $25.2M misses by $1.48M

• First Bank press release ( NASDAQ: FRBA ): Q4 GAAP EPS of $0.46 misses by $0.08 .
• Revenue of $25.2M (+10.3% Y/Y) misses by $1.48M .
• Total loans of $2.34 billion at December 31, 2022 reflected growth of $74.4 million, or 3.3%, from the end of the linked third quarter of 2022 and $212.4 million, or 10.0%, from December 31, 2021.
• Asset quality metrics remained strong during the fourth quarter of 2022, with annualized net recoveries to average loans of 0.04%, and nonperforming loans to total loans of 0.27% at December 31, 2022, compared to 0.61% at December 31, 2021.
• Total deposits of $2.29 billion at December 31, 2022 increased by $103.8 million, or 4.7%, from the end of the linked third quarter of 2022 and $179.4 million, or 8.5%, from December 31, 2021.

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