First Bank Reports Q1 Earnings Below Expectations Due to Credit Costs and Loan Payoffs
First Bank (NASDAQ:FRBA) reported Q1 2026 net income of $7.6 million, below expectations, due to elevated credit costs and high loan payoff activity. The bank's net interest margin was 3.69%, with net charge-offs rising to $5.0 million, primarily in its small business portfolio. Despite loan payoffs, the bank expects $200 million in loan growth for 2026.
Tickers: $FRBA
Topics: Credit Costs Earnings Loan Payoffs Net Income Net Interest Margin Small Business Lending