First Bank Management

Management criteria checks 4/4

First Bank's CEO is Pat Ryan, appointed in Jan 2013, has a tenure of 11.33 years. total yearly compensation is $1.13M, comprised of 49.5% salary and 50.5% bonuses, including company stock and options. directly owns 1.36% of the company’s shares, worth $4.05M. The average tenure of the management team and the board of directors is 3.3 years and 10.8 years respectively.

Key information

Pat Ryan

Chief executive officer

US$1.1m

Total compensation

CEO salary percentage	49.5%
CEO tenure	11.3yrs
CEO ownership	1.4%
Management average tenure	3.3yrs
Board average tenure	10.8yrs

Recent management updates

Recent updates

Earnings Miss: First Bank Missed EPS By 5.3% And Analysts Are Revising Their Forecasts

Apr 30

First Bank (NASDAQ:FRBA) Is Due To Pay A Dividend Of $0.06

Jan 29

First Bank goes ex dividend tomorrow

Aug 10

First Bank GAAP EPS of $0.45 beats by $0.02, revenue of $24.37M beats by $0.64M

Jul 26

First Bank: Strong Earnings And Cheap Valuation, The Perfect Investment Combination

Aug 06

First Bank (NASDAQ:FRBA) Will Pay A Dividend Of US$0.03

Jul 30

First Bank EPS beats by $0.14, beats on revenue

Apr 26

I Ran A Stock Scan For Earnings Growth And First Bank (NASDAQ:FRBA) Passed With Ease

Mar 23

First Bank's (NASDAQ:FRBA) Attractive Combination: Does It Earn A Place In Your Dividend Portfolio?

Mar 02

Insider Buying: The First Bank (NASDAQ:FRBA) Independent Director Just Bought 66% More Shares

Feb 09

First Bank (NASDAQ:FRBA) Could Be A Buy For Its Upcoming Dividend

Feb 06

Should First Bank (NASDAQ:FRBA) Be Disappointed With Their 49% Profit?

Jan 27

CEO Compensation Analysis

How has Pat Ryan's remuneration changed compared to First Bank's earnings?
Date	Total Compensation	Salary	Company Earnings
Mar 31 2024	n/a	n/a	US$26m
Dec 31 2023	n/a	n/a	US$21m
Sep 30 2023	n/a	n/a	US$22m
Jun 30 2023	n/a	n/a	US$33m
Mar 31 2023	n/a	n/a	US$35m
Dec 31 2022	US$1m	US$560k	US$36m
Sep 30 2022	n/a	n/a	US$35m
Jun 30 2022	n/a	n/a	US$34m
Mar 31 2022	n/a	n/a	US$34m
Dec 31 2021	US$1m	US$513k	US$35m
Sep 30 2021	n/a	n/a	US$34m
Jun 30 2021	n/a	n/a	US$31m
Mar 31 2021	n/a	n/a	US$26m
Dec 31 2020	US$884k	US$478k	US$19m
Sep 30 2020	n/a	n/a	US$18m
Jun 30 2020	n/a	n/a	US$14m
Mar 31 2020	n/a	n/a	US$12m
Dec 31 2019	US$799k	US$455k	US$13m
Sep 30 2019	n/a	n/a	US$12m
Jun 30 2019	n/a	n/a	US$17m
Mar 31 2019	n/a	n/a	US$18m
Dec 31 2018	US$827k	US$430k	US$18m
Sep 30 2018	n/a	n/a	US$14m
Jun 30 2018	n/a	n/a	US$11m
Mar 31 2018	n/a	n/a	US$9m
Dec 31 2017	US$629k	US$360k	US$7m

Compensation vs Market: Pat's total compensation ($USD1.13M) is below average for companies of similar size in the US market ($USD1.62M).

Compensation vs Earnings: Pat's compensation has been consistent with company performance over the past year.

CEO

Pat Ryan (47 yo)

11.3yrs

Tenure

US$1,130,806

Compensation

Mr. Patrick L. Ryan has been the Chief Executive Officer and President of First Bank since January 1, 2013 and has been its Director since 2008. Mr. Ryan served as Member of Community Depository Institutio...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Patrick Ryan	President	11.3yrs	US$1.13m	1.36% $ 4.1m
Andrew Hibshman	Executive VP	2.8yrs	US$442.53k	0.087% $ 258.6k
John Shepardson	Executive VP & COO	3.3yrs	US$429.59k	0.061% $ 183.1k
Peter Cahill	Executive VP & Chief Lending Officer	15.5yrs	US$467.45k	0.31% $ 928.6k
Parwinder Virk	First Senior VP & Chief Accounting Officer	2.8yrs	no data	no data
Gabriel Dragos	First Senior VP & CTO	4yrs	no data	no data
Ernest Springer	VP & Compliance Officer	less than a year	no data	no data
Michael Smith	First Senior VP and Director of Small Business & Corporate Development	1.8yrs	no data	no data
Kimberly Cerasi	First Senior VP & Director of Human Resources	no data	no data	no data
Stephen Carman	First Senior VP & Senior Accounting Officer	2.8yrs	US$331.65k	no data
Scott Civil	Senior VP & Market Executive	8.3yrs	no data	no data
David DiStefano	First Senior VP & Northern New Jersey Regional President	8.3yrs	no data	no data

3.3yrs

Average Tenure

48yo

Average Age

Experienced Management: FRBA's management team is considered experienced (3.3 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Patrick Ryan	President	15.6yrs	US$1.13m	1.36% $ 4.1m
Leslie Goodman	Vice Chairman & Lead Independent Director	16.3yrs	US$90.00k	0.85% $ 2.5m
Patrick Ryan	Chairman of the Board	13.3yrs	US$155.00k	1.33% $ 4.0m
Douglas Borden	Independent Director	7.1yrs	US$62.50k	0.24% $ 727.6k
Michael Salz	Independent Director	7.1yrs	US$60.00k	0.23% $ 697.6k
Scott Gamble	Independent Director	4.3yrs	US$55.00k	0.00092% $ 2.7k
Glenn Josephs	Independent Director	15.6yrs	US$65.00k	0.34% $ 1.0m
John Strydesky	Independent Director	14.3yrs	US$60.00k	1.29% $ 3.8m
Andrew Fish	Director	less than a year	no data	0.077% $ 231.0k
Deborah Imperatore	Independent Director	8.3yrs	US$62.50k	0.19% $ 558.1k

10.8yrs

Average Tenure

62.5yo

Average Age

Experienced Board: FRBA's board of directors are seasoned and experienced ( 10.8 years average tenure).

First Bank Management

Management criteria checks 4/4

Key information

Recent management updates

President recently bought US$90k worth of stock

First Bank, Annual General Meeting, Apr 24, 2024

Executive VP & Chief Lending Officer exercised options to buy US$52k worth of stock.

Director recently sold US$98k worth of stock

Director recently sold US$117k worth of stock

President recently bought US$91k worth of stock

Recent updates

First Bank (NASDAQ:FRBA) Will Pay A Dividend Of $0.06

President recently bought US$90k worth of stock

First quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind

First Bank Declares A Quarterly Cash Dividend, Payable on May 24, 2024

New minor risk - Insider selling

First Bank, Annual General Meeting, Apr 24, 2024

Executive VP & Chief Lending Officer exercised options to buy US$52k worth of stock.

Director recently sold US$98k worth of stock

Director recently sold US$117k worth of stock

Upcoming dividend of US$0.06 per share at 1.7% yield

First Bank's (NASDAQ:FRBA) Dividend Will Be $0.06

Fourth quarter dividend of US$0.06 announced

First Bank Reports Net Charge-Offs for the Fourth Quarter Ended December 31, 2023

President recently bought US$91k worth of stock

New minor risk - Earnings quality

Upcoming dividend of US$0.06 per share at 2.0% yield

First Bank's (NASDAQ:FRBA) Dividend Will Be $0.06

Consensus EPS estimates fall by 14%

First Bank Declares Quarterly Cash Dividend, Payable on November 24, 2023

First Bank to Report Q3, 2023 Results on Oct 25, 2023

New minor risk - Shareholder dilution

Upcoming dividend of US$0.06 per share at 1.9% yield

First Bank (NASDAQ:FRBA) Will Pay A Dividend Of $0.06

Second quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind

Consensus EPS estimates increase by 17%

First Bank Announces Net Charge-Offs for the Second Quarter Ended June 30, 2023

First Bank to Report Q2, 2023 Results on Jul 26, 2023

Independent Director recently bought US$90k worth of stock

First Bank (NASDAQ:FRBA) Is Paying Out A Dividend Of $0.06

Upcoming dividend of US$0.06 per share at 2.6% yield

Earnings Miss: First Bank Missed EPS By 5.3% And Analysts Are Revising Their Forecasts

First quarter 2023 earnings: EPS and revenues miss analyst expectations

Price target decreased by 15% to US$15.00

Investor sentiment deteriorates as stock falls 18%

Upcoming dividend of US$0.06 per share at 1.7% yield

Consensus EPS estimates fall by 14%

First Bank (NASDAQ:FRBA) Is Due To Pay A Dividend Of $0.06

First Bank Declares Quarterly Cash Dividend, Payable on February 24, 2023

Full year 2022 earnings: EPS and revenues miss analyst expectations

First Bank to Report Q4, 2022 Results on Jan 25, 2023

First Bank (NasdaqGM:FRBA) entered into a definitive merger agreement to acquire Malvern Bancorp, Inc. (NasdaqGM:MLVF) for approximately $150 million.

Insufficient new directors

Upcoming dividend of US$0.06 per share

First Bank Declares Quarterly Cash Dividend, Payable on November 25, 2022

First Bank to Report Q3, 2022 Results on Oct 25, 2022

Independent Director exercised options to buy US$82k worth of stock.

First Bank goes ex dividend tomorrow

Upcoming dividend of US$0.06 per share

Second quarter 2022 earnings: EPS and revenues exceed analyst expectations

First Bank Announces Net Charge-Offs for the Second Quarter Ended June 30, 2022

First Bank GAAP EPS of $0.45 beats by $0.02, revenue of $24.37M beats by $0.64M

Key Executive exercised options to buy US$72k worth of stock.

First Bank to Report Q2, 2022 Results on Jul 26, 2022

Upcoming dividend of US$0.06 per share

First quarter 2022 earnings: EPS in line with expectations, revenues disappoint

First Bank Reports Net Charge-Offs for the First Quarter Ended March 31, 2022

First Bank to Report Q1, 2022 Results on Apr 25, 2022

Upcoming dividend of US$0.06 per share

Price target increased to US$18.38

First Bank Reports Net Charge-Offs for the Fourth Quarter Ended December 31, 2021

Third quarter 2021 earnings released: EPS US$0.46 (vs US$0.30 in 3Q 2020)

First Bank: Strong Earnings And Cheap Valuation, The Perfect Investment Combination

First Bank (NasdaqGM:FRBA) entered into a definitive agreement to acquire Premises and Equipment, all Deposits and Performing Loans of Two New Jersey Branch from OceanFirst Bank, National Association.

Price target increased to US$17.13

First Bank (NASDAQ:FRBA) Will Pay A Dividend Of US$0.03

Executive VP, Treasurer & CFO Stephen Carman has left the company

Chief Accounting Officer & First Senior VP Andrew Hibshman has left the company

First quarter 2021 earnings released: EPS US$0.49 (vs US$0.16 in 1Q 2020)

Price target increased to US$16.38