Saturday 17 October 2026
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First Bank
FRBA Financial Banks Regional
First Bank’s revenue for fiscal 2025 (year ended December 2025) was $245.8 million, up 7.14% from fiscal 2024. In the quarter to June 2026, revenue fell 3.96%, EPS grew 7.32%, free cash flow fell 48.7% and total debt fell 29.4%, each against the same quarter a year earlier. Dividend growth for ten consecutive years, revenue growth for ten.
17.80
0.07
+0.39%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Trend | 2026e | 2027e | 2028e |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Price, $ | |||||||||||||||
| Price, $ | Low | 6.25 | 10.60 | 11.13 | 10.29 | 6.00 | 8.78 | 13.17 | 8.59 | 11.20 | 12.74 |
Analyst estimates 2026–2028 Powerpack |
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| High | 12.95 | 14.95 | 15.00 | 12.10 | 11.19 | 15.90 | 16.76 | 15.17 | 15.87 | 18.11 | |||||
| People | |||||||||||||||
| People | Employees | 110 | 153 | 188 | 221 | 207 | 220 | 241 | 288 | 320 | 336 | ||||
| Revenue/emp, $m | 0.36 | 0.35 | 0.41 | 0.40 | 0.46 | 0.45 | 0.47 | 0.60 | 0.72 | 0.73 | |||||
| Income, $m | |||||||||||||||
| Income, $m | Revenue | 40 | 53 | 76 | 88 | 96 | 99 | 112 | 173 | 229 | 246 | ||||
| Gross margin, % | 76.41 | 78.36 | 76.65 | 70.73 | 79.44 | 90.67 | 86.75 | 59.90 | 56.60 | 59.88 | |||||
| EBT | 10 | 14 | 22 | 19 | 26 | 47 | 48 | 27 | 55 | 57 | |||||
| EBT margin, % | 23.79 | 27.05 | 28.40 | 21.57 | 27.19 | 47.26 | 42.61 | 15.67 | 24.04 | 23.31 | |||||
| Net income | 6 | 7 | 18 | 13 | 19 | 35 | 36 | 21 | 42 | 44 | |||||
| Depreciation | 0 | (1) | (1) | 0 | 0 | (6) | (2) | (6) | (12) | (9) | |||||
| Per share, $ | |||||||||||||||
| Per share, $ | Revenue | 3.83 | 3.75 | 4.18 | 4.62 | 4.81 | 5.04 | 5.76 | 7.90 | 9.13 | 9.85 | ||||
| Earnings | 0.61 | 0.49 | 0.97 | 0.70 | 0.98 | 1.81 | 1.86 | 0.95 | 1.68 | 1.75 | |||||
| Cash flow | 0.88 | 1.16 | 2.03 | 0.84 | 1.23 | 1.43 | 1.89 | 6.56 | 1.10 | 2.63 | |||||
| Capex | (0.04) | (0.03) | (0.10) | (0.05) | (0.02) | 0.03 | (0.10) | (0.14) | (0.07) | 0.04 | |||||
| Free cash flow | 0.83 | 1.13 | 1.93 | 0.79 | 1.21 | 1.46 | 1.79 | 6.41 | 1.03 | 2.67 | |||||
| Book value | 8.52 | 11.48 | 10.70 | 11.85 | 11.97 | 13.60 | 14.85 | 16.90 | 16.28 | 17.78 | |||||
| Shares, m | 10 | 14 | 18 | 19 | 20 | 20 | 20 | 22 | 25 | 25 | |||||
| Valuation, × | |||||||||||||||
| Valuation, × | P/E | 28.54 | 33.41 | 12.63 | 15.82 | 9.57 | 8.06 | 7.30 | 14.67 | 8.38 | 9.41 | ||||
| P/S | 0.00 | 0.00 | 2.90 | 2.39 | 1.95 | 2.88 | 2.36 | 1.86 | 1.54 | 1.67 | |||||
| P/B | 0.00 | 0.00 | 1.13 | 0.93 | 0.78 | 1.07 | 0.91 | 0.87 | 0.86 | 0.93 | |||||
| EV/Sales | 0.25 | 0.25 | 3.60 | 2.84 | 2.90 | 2.56 | 2.30 | 1.89 | 1.56 | 1.51 | |||||
| EV/FCF | 1.76 | 1.76 | 7.82 | 16.68 | 11.57 | 8.84 | 7.39 | 2.33 | 13.86 | 5.58 | |||||
| Cash, $m | |||||||||||||||
| Cash, $m | Operating cash flow | 9 | 17 | 37 | 16 | 25 | 28 | 37 | 144 | 28 | 66 | ||||
| Capex | 0 | 0 | (2) | (1) | 0 | 1 | (2) | (3) | (2) | 1 | |||||
| Free cash flow | 9 | 16 | 35 | 15 | 24 | 29 | 35 | 141 | 26 | 67 | |||||
| Balance, $m | |||||||||||||||
| Balance, $m | Working capital | 33 | 99 | 119 | 157 | 226 | 149 | 153 | 252 | 334 | 365 | ||||
| Total debt | 86 | 117 | 115 | 127 | 191 | 125 | 121 | 234 | 277 | 271 | |||||
| Net debt | 48 | 69 | 54 | 40 | 91 | (32) | (7) | 5 | 4 | (39) | |||||
| Shareholders’ equity | 89 | 163 | 195 | 226 | 238 | 267 | 290 | 371 | 409 | 444 | |||||
| Returns, % | |||||||||||||||
| Returns, % | ROA | 0.66 | 0.55 | 1.11 | 0.72 | 0.89 | 1.45 | 1.38 | 0.66 | 1.14 | 1.13 | ||||
| ROIC | 4.53 | 4.57 | 5.74 | 5.36 | 4.95 | 12.65 | 10.74 | 5.85 | 8.34 | 8.85 | |||||
| ROE | 8.13 | 5.55 | 9.82 | 6.38 | 8.37 | 14.04 | 13.05 | 6.33 | 10.83 | 10.24 | |||||
Negative figures in brackets.
Fiscal years to Dec 2025 · latest quarter Jun 2026
Charts ten years each
First Bank vs peers in Banks Regional (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| CZNC Citizens & Northern Corp | $454.8M | 17.3× | 10.8× | +26.53% (above 0%: growing) | +97.50% (above 0%: growing) | +90.26% (above 0%: growing) | 76.74% | 0.00% | Compare |
| PBFS Pioneer Bancorp, Inc. | $440.5M | 25.2× | 24.0× | +17.36% (above 0%: growing) | −46.15% (below 0%: shrinking) | +217.72% (above 0%: growing) | 75.84% | 0.00% | Compare |
| FRBA First Bank | $438.9M | 10.3× | 10.2× | −3.96% (below 0%: shrinking) | +7.32% (above 0%: growing) | −48.72% (below 0%: shrinking) | 62.19% | 0.00% | |
| AVBC Avidia Bancorp, Inc. | $436.0M | 23.1× | 14.7× | +5.48% (above 0%: growing) | — | +391.37% (above 0%: growing) | 76.31% | 0.00% | Compare |
| RBB RBB Bancorp | $435.8M | 10.5× | 10.3× | −4.00% (below 0%: shrinking) | +13.21% (above 0%: growing) | +4.05% (above 0%: growing) | 55.01% | 0.00% | Compare |
| PLBC Plumas Bancorp | $431.8M | 12.1× | 9.7× | +44.00% (above 0%: growing) | +33.64% (above 0%: growing) | +446.81% (above 0%: growing) | 86.85% | 0.00% | Compare |
| CBK Commercial Bancgroup, Inc. | $431.5M | 10.8× | 10.3× | −0.84% (below 0%: shrinking) | +3.15% (above 0%: growing) | +28.43% (above 0%: growing) | 73.67% | 0.00% | Compare |
| BMRC Bank of Marin Bancorp | $427.4M | — (loss-making) | 11.9× | +120.20% (above 0%: growing) | n/m | +67.51% (above 0%: growing) | 74.60% | 0.00% | Compare |
| CBAN Colony Bankcorp, Inc. | $425.1M | 12.0× | 10.7× | +23.45% (above 0%: growing) | +10.87% (above 0%: growing) | −48.88% (below 0%: shrinking) | 72.54% | 0.00% | Compare |
| Median of peers | $433.8M | 12.1× | 10.8× | +20.41% | +12.04% | +78.89% | 75.22% | 0.00% |
First Bank (FRBA) key facts
- Strength: First Bank’s revenue for fiscal 2025 (year ended December 2025) was $245.8 million, up 7.14% from fiscal 2024.
- First Bank (FRBA) is a Banks Regional company in the Financial sector, listed on Nasdaq.
- As of October 16, 2026, FRBA traded at $17.80, a market capitalization of $438.9 million.
- First Bank pays an annual dividend of $0.33 per share, a yield of 1.85%, with a payout ratio of 19.5%.
- Return on equity was 10.2% and debt-to-equity 0.61.
- Its Piotroski F-score is 8 out of 9 for fiscal 2025.