First Bank Announces Third Quarter of 2023 Net Loss of $1.3 Million driven by one-time costs associated with Malvern Bancorp acquisition

December 15, 2023

https://www.globenewswire.com/news-release/2023/10/25/2766989/0/en/First-Bank-Announces-Third-Quarter-of-2023-Net-Loss-of-1-3-Million-driven-by-one-time-costs-associated-with-Malvern-Bancorp-acquisition.html

HAMILTON, N.J., Oct. 25, 2023 (GLOBE NEWSWIRE) — First Bank (Nasdaq Global Market: FRBA) (the Bank) today announced its third quarter 2023 financial results with a net loss of $1.3 million, or a loss of $0.05 per diluted share, and losses on average assets, equity, and tangible equityi of 0.14%, 1.43%, and 1.66%, respectively. Excluding merger-related expenses and other one-time expenses, First Bank’s third quarter 2023 adjusted diluted earnings per shareii were $0.42, adjusted return on average assetsii was 1.13% and adjusted return on average tangible equityii was 13.23%.

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