First Bank Hamilton Q2 revenue slightly misses analyst estimates

FIRST BANK (Hamilton)

23/07/2026 21:45

    

    Overview
  
US regional bank's Q2 revenue slightly missed analyst expectations
Q2 adjusted EPS was $0.43, up from $0.41 a year earlier
Company repurchased 325,388 shares under its buyback program

    

    Outlook
  
Company expects future effective tax rate of about 23% to 25%, excluding discrete items
First Bank to focus on expense management and efficiency gains to drive profitability

    

    Result Drivers
  
INTEREST EXPENSE REDUCTION - Net interest income rose as a $2.7 mln decrease in interest expense outpaced a $1.9 mln decline in interest income
EXPENSE MANAGEMENT - Non-interest expense fell 3.5% from a year earlier, mainly due to lower salaries and employee benefits
CREDIT COSTS - Credit loss expense dropped to $2.2 mln from $5.6 mln in the prior quarter, reflecting lower net charge-offs in the small business portfolio

    
Company press release: ID:nGNX2Hyg1j

    

    Key Details
  

            Metric
          

            Beat/Miss
          

            Actual
          

            Consensus Estimate
          
Q2 Revenue
Slight Miss*
$36.95 mln
$37.23 mln (3 Analysts)
Q2 EPS
 
$0.43
 
Q2 Net Income
 
$10.86 mln
 
Q2 Net Interest Income
 
$34.81 mln
 
*Applies to a deviation of less than 1%; not applicable for per-share numbers.

    

    Analyst Coverage
  
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the banks peer group is "buy"
Wall Street's median 12-month price target for FIRST BANK (Hamilton) is $18.00, about 3.4% above its July 22 closing price of $17.40
The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 8 three months ago

    

    Reuters Recommended Reads
  
July 23 - Princeton Bancorp's Q2 net interest income rises as interest expenses decreased
July 22 - Old Second Bancorp Q2 adjusted net income slightly misses estimates
July 23 - Huntington CEO says bank made effort to attract deposits, prepare for loan growth in second half

    
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)