First Bank Reports Strong Q3 2025 Earnings Growth
First Bank, a New Jersey state-chartered bank, reported strong Q3 2025 earnings with a net income of $11.7 million, up from $8.2 million in Q3 2024. Key highlights include a 5.6% growth in total loans to $3.37 billion and a 6.9% increase in total deposits to $3.22 billion. The net interest margin improved to 3.71%, and the efficiency ratio decreased to 51.81%. The tangible book value per share rose to $15.33, reflecting a 12.4% growth. The bank plans to enhance shareholder returns through strategic capital management initiatives.
First Bank is a New Jersey state-chartered bank operating primarily in the New York to Philadelphia corridor, with a branch in Florida, offering a range of deposit and loan products. In the third quarter of 2025, First Bank reported a net income of $11.7 million, a significant increase from the $8.2 million reported in the same quarter of 2024, driven by strong net interest margin and operating efficiency. Key financial highlights include a 5.6% annualized growth in total loans to $3.37 billion and a 6.9% annualized increase in total deposits to $3.22 billion. The net interest margin improved to 3.71%, and the efficiency ratio decreased to 51.81%, indicating improved operational efficiency. The bank also reported a tangible book value per share increase to $15.33, reflecting a 12.4% annualized growth. Looking forward, First Bank anticipates continued balance sheet growth and plans to enhance shareholder returns through strategic capital management initiatives.
