First Bank Q3 net income rises, margin expands on higher loan yields

FIRST BANK (Hamilton)

22/10/2026 21:43

Overview
US regional bank's Q3 net income and EPS rose from prior quarter and year-ago period
Net interest income and margin expanded, driven by loan and deposit growth
Company raised quarterly dividend by 33% and authorized new $24 mln share buyback program

Outlook
First Bank anticipates its effective tax rate will be about 23% to 25%
Company sees opportunity for investor-owned CRE growth as CREI to capital ratio has declined
First Bank plans to manage deposit costs and deepen core customer relationships

Result Drivers
LOAN AND DEPOSIT GROWTH - Co said broad-based loan and deposit growth contributed to higher net income and net interest margin
NET INTEREST MARGIN EXPANSION - Co attributed margin improvement to higher loan yields, paydown of higher-cost borrowings and favorable asset mix
EXPENSE CONTAINMENT - Co said efficiency ratio improved due to well-contained expense growth and cost containment efforts

Company press release: ID:nGNX1dMpXz

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 EPS
 
$0.49
 
Q3 Net Income
 
$12.17 mln
 
Q3 Net Interest Income
 
$36.77 mln
 

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 $19.00, about 6.9% above its October 21 closing price of $17.78
The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 11 three months ago

Reuters Recommended Reads
Oct 21 - First Bancorp Q3 net income rises 17.5%
Oct 22 - United Bankshares Q3 EPS beats estimates, helped by loan growth
Oct 21 - Pinnacle Financial Partners Q3 adjusted profit beats estimates on loan, fee income growth

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(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.)