First Bank

What First Bank does

First Bank (NASDAQ: FRBA) is a New Jersey state-chartered community bank with $3.96 billion in total assets as of December 31, 2025, operating six branches across the New York-to-Philadelphia corridor and a newly opened location in Palm Beach County, Florida. The bank serves three primary customer segments: individual consumers, small-to-medium businesses, and government/municipal entities, with a relationship-based model that combines consumer deposit products, commercial lending, and public-sector banking.

Core products span deposit accounts (checking, savings, money market), consumer and commercial loan products, mortgage origination, and treasury/cash management services for business and government clients. Underlying infrastructure includes standard core-banking systems, a net interest margin of 3.69-3.74% (Q1 2026), and a 12.5% total risk-based capital ratio. The only disclosed AI-enabled feature is "Penny," an NLP-based customer service chatbot deployed on the digital channel.

The business model is a classic spread-based community bank: earning the majority of revenue from net interest income on loans and securities (Q1 2026 NII of $34.0M, +6% YoY), with non-interest income from deposit fees, treasury management, and mortgage banking supplementing the top line. Annual revenue is approximately $245.83M. Revenue is supported by a capital-return program that includes a 50% dividend increase (Q4 2025) and a $20M share repurchase authorization (Q1 2026), alongside a stated 2026 loan growth target of $200M.

Name

First Bank

Legal name

First Bank

Website

https://firstbanknj.com

Company type

Public

Founded year

2007

Operating status

Operating

Headcount range

101–250 employees

Short description

First Bank (NASDAQ: FRBA) is a New Jersey state-chartered community bank with $3.96B in assets, operating six branches in the NY-to-Philadelphia corridor and Palm Beach County, Florida, serving consumers, small-to-medium businesses, and government entities with deposit, lending, and treasury management products.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (52211), Depository Credit Intermediation (5221)

SIC

State Commercial Banks (6022)

akta.pro primary industry

SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC)

akta.pro secondary industries

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA), Small Business Banking (Microbusiness/Sole Proprietor) (FSABAAAI)

Keywords

• Community banking services
• Commercial lending
• Consumer deposit accounts
• Residential mortgage lending
• Small business banking

Headquarters

HQ city

Robbinsville

HQ country

United States

HQ region

North America

Offices6 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Net Interest Income: Interest income from lending activities including commercial, industrial, construction, and personal loans minus interest paid on deposits. Primary revenue driver generating $34.0 million in Q1 2026 with 6% year-over-year growth.
2. Fee-based Banking Services: Non-interest income from checking accounts, savings accounts, money market accounts, CDs, IRAs, debit cards, credit cards, merchant services, and treasury management services.
3. SBA Lending: Small Business Administration lending programs generating fees and interest income from SBA-approved business loans.
4. Mortgage Banking: Residential mortgage origination and servicing, including home equity loans and lines of credit.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels5 records

Core offering

First Bank is a New Jersey state-chartered community bank that provides consumer and business deposit products (checking, savings, money market, CDs, IRAs), a full lending suite (residential mortgages, home equity, auto, personal and business credit cards, SBA, asset-based, C&I, construction, lines of credit, and term loans), and treasury/merchant services. Distribution is through six branches in New Jersey, Pennsylvania, and Florida combined with online, mobile (FB OnTheGo), telephone banking, and an AI chatbot (Penny).

Product overview

First Bank is a New Jersey state-chartered community bank offering a comprehensive portfolio of banking products and services to both consumer and business customers. The bank operates as a traditional community bank with a platform-plus-modules architecture organized into Business Banking (checking, savings, money market, treasury management, and merchant services), Personal Banking (checking, savings, money market, and CDs/IRAs), Lending (business lending including SBA, asset-based, commercial real estate, and construction; personal lending including mortgages, home equity, auto, and credit cards), and Digital Banking (online, mobile, and telephone banking). The bank serves markets along the New York to Philadelphia corridor and in Palm Beach County, Florida, with assets of $3.96 billion as of December 31, 2025. The portfolio includes specialized products such as the GenGold rewards program, Business Express loans up to $350,000, and AI chatbot customer service through 'Penny'.

Differentiator

Problem solved

Functional benefit

Products and services

• Business First Checking Primary business checking account designed for general business banking needs; for small and medium-sized businesses seeking transactional deposit services.
• Nonprofit Checking Account Checking account tailored for nonprofit organizations with features suited to their financial management and fund-handling needs.
• Commercial Analysis Checking Account Commercial checking account with analysis services for businesses requiring detailed financial tracking, reporting, and earnings credit calculations.
• Business Escrow Checking Account Escrow checking account for businesses managing funds held in trust or awaiting settlement, including real estate and legal escrow balances.
• Business Savings Savings account for businesses to deposit and grow funds with competitive interest rates.
• Business Money Market Money market account for businesses offering higher interest rates with limited transaction capabilities.
• Business Express Loans Streamlined business lending product offering loans up to $350,000 with online application and quick response times; for small businesses needing fast credit decisions.
• Asset-Based Lending Business lending secured by assets such as inventory, equipment, or receivables; for companies needing working capital through the Solifi ABL borrower portal.
• SBA Lending Small Business Administration loans, including SBA 7(a) and other SBA programs, to support small business growth.
• Private Equity / Fund Sponsor Banking Banking services for private equity funds and their portfolio companies, including specialized financing solutions for sponsor-backed businesses.
• Commercial & Industrial Lending Traditional commercial and industrial loans for business operations, expansion, working capital needs, and acquisitions.
• Construction Financing Construction loans for commercial and residential development projects with draw schedules and progress-based disbursements.
• Business Lines of Credit Revolving credit lines for businesses providing flexible access to funds for working capital and short-term needs.
• Business Term Loans Fixed-term business loans with scheduled repayments for specific business purposes such as expansion or equipment purchases.
• First Bank Business Credit Cards Credit card products designed for business expenses with rewards and expense management features.
• Basic Checking Simple personal checking account with essential features for everyday banking needs.
• E-Checking Electronic-focused checking account with digital banking features and reduced paper statements for digitally active consumers.
• Relationship Checking Premium personal checking account with enhanced benefits for customers who maintain multiple First Bank products.
• 50 First Checking Checking account designed for customers aged 50 and older with benefits and features tailored to that segment.
• Community Checking Checking account tailored for community organizations and groups with specific banking needs.
• GenGold Rewards Checking Premium personal checking with rewards, including cash-back benefits, and enhanced GenGold program features.
• Statement Savings Personal savings account with monthly statements and competitive interest rates.
• Personal Money Market Money market savings account for individuals offering higher interest rates with limited transaction access.
• Relationship Money Market Enhanced money market account for existing First Bank customers with relationship pricing.
• CDs and IRAs Certificates of Deposit and Individual Retirement Accounts for savings and retirement planning with FDIC insurance (e.g., 13-month CD at 4.10% APY, $2,500 minimum).
• Residential Mortgage Loans Home purchase and refinance loans including conventional, jumbo, and portfolio lending programs; with a promotional $995 discount offer.
• Home Equity Loans Fixed-rate loans secured by home equity for major purchases, debt consolidation, or home improvements.
• Home Equity Lines of Credit (HELOC) Revolving credit lines secured by home equity providing flexible access to funds as needed.
• Personal Secured Loans Loans secured by collateral such as savings accounts or certificates of deposit.
• Auto Loans Financing for new and used vehicle purchases with competitive rates and flexible terms.
• First Bank Personal Credit Cards Personal credit cards with various rewards programs including cash-back and low-rate options.
• Personal Online Banking Web-based banking platform for personal account management, bill pay, and fund transfers, available 24/7.
• FB OnTheGo Mobile Banking Mobile application (FB OnTheGo) for smartphone banking including account access, mobile check deposit, transfers, and transactions on iOS and Android.
• Personal Telephone Banking Phone-based banking service for personal customers to access accounts and conduct transactions via telephone.
• Business Online Banking Web-based platform for business account management, cash flow management, ACH, wire, and corporate banking services.
• Business Mobile Banking Mobile banking application for business customers to manage accounts on smartphones and tablets.
• Business Telephone Banking Phone-based banking for business customers to access accounts and perform transactions via telephone.
• Escrow Management Treasury management service for managing escrow accounts and funds on behalf of business clients, integrated with ZEscrow.
• Merchant Services (Clover) Payment processing and point-of-sale solutions for businesses including credit card processing and Clover POS integration, with promotional rebate up to $450 and 90-day free trial.
• Government Banking Specialized banking services for government entities including municipalities, school districts, and public sector organizations, with dedicated government checking and savings and municipal lending.

Quantifiable outcome

• 6% year-over-year growth in net interest income to $34.0 million in Q1 2026
• +3 more outcomes

Segments3 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

AI capability2 records

Feature3 records

Partnerships

One partnership is on record.

• Malvern BancorpmajorOthers · 15 December 2022First Bank announced plans to acquire Malvern Bancorp in a deal valued at $150 million. The acquisition aims to expand First Bank's regional presence and market share in the banking sector.

Scale indicators15 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Republic First Bancorp: Philadelphia-based community bank with consumer and commercial banking in PA, NJ, and NY. Comparable scale and community-banking positioning in the same NY-Philadelphia corridor as First Bank.
• Bank of Princeton: New Jersey-based community bank (NASDAQ: BPRN) with similar size and customer profile. Directly competes for SMB and retail deposit relationships in central and southern New Jersey.
• Univest Financial Corporation: PA-headquartered bank holding company (NASDAQ: UVSP) operating Univest Bank and Trust Co. Comparable in scale and product set with commercial, SBA, and retail banking in PA and NJ markets.
• OceanFirst Financial Corp: New Jersey-headquartered bank holding company (NASDAQ: OCFC) operating a similar community bank model with consumer and commercial banking along the Northeast corridor. Direct competitor for SMB and retail deposits in overlapping NJ markets.
• Hanover Bancorp: Long Island, NY-based community bank explicitly benchmarked alongside First Bank in third-party comparison data. Similar size, retail/SMB mix, and commercial lending focus.
• Fulton Financial Corp: Pennsylvania-based community bank (NASDAQ: FULT) with consumer and commercial banking across PA, NJ, NY, MD, DE, and DC. Comparable mid-Atlantic footprint and SME-focused lending model.
• Lakeland Bancorp: New Jersey-based community bank (NASDAQ: LBAI) with a similar mix of commercial and retail banking across NJ and broader Northeast. Highly comparable in scale, customer segments, and product set including SBA and commercial lending focus.
• Provident Financial Services: NYSE-listed NJ-based bank holding company operating Provident Bank with retail and commercial banking in New Jersey, New York, and Pennsylvania. Overlaps with First Bank's NY-Philadelphia corridor footprint and product mix.

Broad incumbents

• Citizens Financial Group: Large super-regional bank (NYSE: CFG) with extensive retail and commercial banking across the Northeast including NJ and PA. Competes directly with First Bank for retail deposits, mortgages, and middle-market commercial relationships despite vastly larger scale.
• Customers Bancorp: PA-headquartered commercial bank (NYSE: CUBB) operating Customers Bank with a broader regional and digital commercial banking footprint. Competes with First Bank for commercial relationships and provides a public-market scale benchmark.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/myfirstbank
• LinkedInlinkedin.com/company/first-bank-nj
• Instagraminstagram.com/firstbankofficial

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A4 records

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about First Bank