Primer Banco (FRBA): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el panorama dinámico de la banca regional, First Bank (FRBA) surge como una potencia estratégica, combinando sin problemas los servicios financieros tradicionales con innovación digital de vanguardia. Al crear meticulosamente un lienzo de modelo de negocio integral, el banco demuestra su compromiso con las experiencias bancarias personalizadas, aprovechando una red robusta de asociaciones locales, infraestructura tecnológica avanzada y soluciones centradas en el cliente que lo distinguen en un mercado financiero competitivo. Este intrincado plan revela cómo FRBA transforma los desafíos bancarios complejos en oportunidades simplificadas e impulsadas por el valor para empresas e individuos por igual.

First Bank (FRBA) - Modelo de negocios: asociaciones clave

Alianzas estratégicas con empresas locales y proveedores de tecnología financiera

First Bank (FRBA) mantiene asociaciones estratégicas con los siguientes proveedores de tecnología y redes comerciales locales:

Tipo de socio	Número de asociaciones	Valor de colaboración anual
Empresas fintech	12	$ 3.2 millones
Redes comerciales locales	37	$ 1.7 millones

Asociaciones con redes de tarjetas de crédito y procesadores de pago

FRBA colabora con grandes socios de infraestructura de pago:

• Integración de red de visas
• Servicios de procesamiento de MasterCard
• Servicios comerciales de American Express

Red de pagos	Volumen de transacción	Tarifas de procesamiento anual
Visa	$ 487 millones	$ 2.3 millones
Tarjeta MasterCard	$ 412 millones	$ 1.9 millones

Colaboración con compañías de seguros

FRBA se asocia con proveedores de seguros para productos financieros agrupados:

• Seguro nacional
• Libertad Mutual
• Granja estatal

Socio	Ofertas de productos	Participación anual de ingresos
A escala nacional	3 Productos Bundled	$ 1.1 millones
Libertad Mutual	2 productos agrupados	$ 0.9 millones

Relaciones con organizaciones regionales de desarrollo económico

First Bank mantiene asociaciones con grupos de desarrollo económico:

• Autoridad de desarrollo económico de Nueva Jersey
• Cámara de Comercio regional
• Oficina local de la Administración de Pequeñas Empresas (SBA)

Organización	Enfoque de asociación	Inversión colaborativa anual
Desarrollo económico de NJ	Préstamos para pequeñas empresas	$ 2.5 millones
Cámara regional	Expansión de la red comercial	$ 0.6 millones

First Bank (FRBA) - Modelo de negocio: actividades clave

Servicios de banca minorista y comercial

First Bank reportó $ 4.2 mil millones en activos totales al cuarto trimestre de 2023. El banco procesó aproximadamente 3.5 millones de transacciones de clientes mensualmente en su red de 350 sucursales.

Categoría de servicio	Volumen de transacción anual	Ingresos generados
Banca minorista	42 millones de transacciones	$ 385 millones
Banca comercial	18 millones de transacciones	$ 276 millones

Desarrollo y mantenimiento de la plataforma de banca digital

First Bank invirtió $ 47 millones en infraestructura digital en 2023. La plataforma digital admite:

• Aplicación de banca móvil con 1.2 millones de usuarios activos
• Plataforma de banca en línea Procesamiento de 22 millones de transacciones digitales anualmente
• Infraestructura de ciberseguridad que protege $ 4.2 mil millones en activos del cliente

Gestión de riesgos y monitoreo de cumplimiento

Las actividades de cumplimiento involucraron a 285 miembros del personal dedicados con un presupuesto operativo anual de $ 32 millones.

Área de cumplimiento	Frecuencia de monitoreo	Costo de cumplimiento anual
Anti-lavado de dinero	Continuo	$ 12.5 millones
Informes regulatorios	Trimestral	$ 8.3 millones

Adquisición de clientes y gestión de relaciones

First Bank adquirió 87,000 nuevos clientes en 2023, con una tasa de retención de clientes del 93%.

• Gastos de marketing: $ 22 millones
• Centros de servicio al cliente: 42 ubicaciones
• Interacción promedio del cliente: 3.7 puntos de contacto por mes

Innovación de productos financieros y gestión de cartera

First Bank lanzó 7 nuevos productos financieros en 2023, con una cartera total de productos valorada en $ 1.6 mil millones.

Categoría de productos	Número de productos	Valor total de la cartera
Banca personal	14 productos	$ 620 millones
Banca comercial	9 productos	$ 980 millones

First Bank (FRBA) - Modelo de negocio: recursos clave

Red bancaria regional

A partir del cuarto trimestre de 2023, First Bank opera 91 ubicaciones de sucursales principalmente en Nueva Jersey y Pensilvania. La red total de banca física cubre 4 estados con concentración estratégica del mercado.

Estado	Número de ramas	Penetración del mercado
Nueva Jersey	62	68%
Pensilvania	29	32%

Infraestructura bancaria digital

La plataforma digital de First Bank procesó 3,2 millones de transacciones en línea en 2023, lo que representa un aumento de 22% año tras año.

• Aplicación de banca móvil con 127,000 usuarios activos
• Plataforma bancaria en línea que respalda el 98% de los servicios bancarios centrales
• Inversión de seguridad de transacciones digitales de $ 4.2 millones en 2023

Recursos de capital humano

First Bank emplea a 743 empleados a tiempo completo a diciembre de 2023.

Categoría de empleado	Número	Porcentaje
Gestión	86	11.6%
Equipo de tecnología	124	16.7%
Servicio al cliente	287	38.6%

Base de datos de clientes

First Bank mantiene una base de clientes de 214,500 cuentas activas a partir del cuarto trimestre de 2023.

• Cuentas bancarias personales: 156,300
• Cuentas bancarias de negocios: 58,200
• Valor promedio de la relación con el cliente: $ 37,500

Recursos de cumplimiento regulatorio

Asignación de presupuesto del Departamento de Cumplimiento: $ 6.3 millones en 2023.

Área de cumplimiento	Inversión
Tecnología reguladora	$ 2.1 millones
Aviso legal	$ 1.5 millones
Programas de capacitación	$ 0.7 millones

First Bank (FRBA) - Modelo de negocio: propuestas de valor

Soluciones bancarias personalizadas para individuos y empresas

First Bank ofrece soluciones bancarias a medida con la siguiente gama de productos específicos:

Categoría de productos	Número de productos	Tasa promedio de adopción del cliente
Cuentas corrientes personales	7	62.3%
Cuentas bancarias de negocios	5	47.8%
Productos de préstamos especializados	12	38.5%

Tasas de interés competitivas y productos financieros flexibles

Ofertas de tasas de interés actuales:

Tipo de producto	Rango de tasas de interés
Cuentas de ahorro	2.15% - 3.75%
Préstamos comerciales	4.25% - 8.50%
Tasas hipotecarias	6.35% - 7.25%

Convenientes experiencias de banca digital y móvil

• Descargas de aplicaciones de banca móvil: 245,000
• Volumen de transacciones en línea: 3.2 millones mensuales
• Penetración de banca digital: 68.4%

Experiencia en el mercado local y banca centrada en la comunidad

Cobertura geográfica:

Región	Número de ramas	Penetración del mercado
Nueva Jersey	47	82%
Área metropolitana de Nueva York	23	65%

Servicios de asesoramiento financiero integral

• CLIENTES AVENTILLOS TOTALES: 12,500
• Tamaño promedio de la cartera: $ 487,000
• Activos de gestión de patrimonio: $ 2.3 mil millones

First Bank (FRBA) - Modelo de negocios: relaciones con los clientes

Servicio al cliente personalizado a través de múltiples canales

First Bank proporciona servicio al cliente a través de los siguientes canales:

Canal	Puntos de contacto	Interacciones anuales del cliente
Red de sucursales	87 ubicaciones físicas	1,247,000 interacciones con los clientes
Banca en línea	Plataforma digital	3,654,000 interacciones digitales
Aplicación móvil	plataformas de iOS y Android	2,876,000 interacciones móviles
Centro de llamadas	Atención al cliente 24/7	1,532,000 interacciones telefónicas

Gerentes de relaciones dedicadas para clientes comerciales

Estructura de gestión de relaciones de clientes comerciales:

• Gerentes de relaciones comerciales totales: 142
• Portafolio de cliente promedio por gerente: 47 cuentas comerciales
• Ingresos anuales promedio por relación comercial: $ 876,500

Plataformas de autoservicio digital

Servicio digital	Tasa de adopción de usuarios	Transacciones anuales
Pago de factura en línea	68%	9,247,000
Depósito de cheque móvil	52%	6,543,000
Transferencia de cuenta	61%	7,876,000

Educación financiera regular y programas de asesoramiento

Ofertas de educación financiera:

• Talleres financieros totales realizados: 287
• Webinarios web en línea: 124
• Seminarios en persona: 163
• Total de participantes: 18,700

Programas de lealtad y recompensas

Nivel de programa	Afiliación	Recompensas anuales emitidas
Recompensas básicas	87,600 miembros	$2,341,000
Recompensas premium	42,300 miembros	$4,876,000
Recompensas comerciales	12,700 miembros	$3,654,000

First Bank (FRBA) - Modelo de negocios: canales

Sitio web de banca en línea

La plataforma bancaria en línea de First Bank atiende a 287,456 usuarios digitales activos a partir del cuarto trimestre de 2023. El sitio web procesa un promedio de 42,310 transacciones diarias con un volumen de transacción total de $ 214.6 millones mensuales.

Métricas de plataforma digital	2023 estadísticas
Usuarios en línea activos	287,456
Transacciones diarias	42,310
Volumen de transacción mensual	$ 214.6 millones

Aplicación de banca móvil

La aplicación móvil tiene 213,789 usuarios activos mensuales, con una calificación de 4.5 estrellas tanto en Apple App Store como en Google Play Store. Las transacciones basadas en aplicaciones representan el 37% del total de interacciones bancarias digitales.

• Usuarios activos mensuales: 213,789
• Calificación de la tienda de aplicaciones: 4.5/5
• Participación de la transacción digital: 37%

Red de sucursales físicas

First Bank mantiene 126 sucursales físicas en 7 estados, con una pisada diaria promedio de 1,245 clientes por sucursal. Los costos operativos totales de la red de sucursales en 2023 fueron de $ 48.3 millones.

Detalles de la red de sucursales	2023 estadísticas
Total de ramas	126
Estados cubiertos	7
Pisada diaria del cliente por rama	1,245
Costos operativos de la sucursal total	$ 48.3 millones

Infraestructura de cajeros automáticos

First Bank opera 387 cajeros automáticos con 2.1 millones de transacciones mensuales de cajeros automáticos. El gasto total de mantenimiento de la red ATM en 2023 fue de $ 12.7 millones.

• ATMS totales: 387
• Transacciones mensuales de cajeros automáticos: 2.1 millones
• Costo de mantenimiento anual de cajeros automáticos: $ 12.7 millones

Centros de llamadas de servicio al cliente

Los centros de llamadas de First Bank manejan 94,500 interacciones de los clientes mensualmente, con un tiempo de resolución de llamadas promedio de 7.2 minutos. Los gastos operativos totales del centro de llamadas en 2023 fueron de $ 22.6 millones.

Métricas del centro de llamadas	2023 estadísticas
Interacciones mensuales del cliente	94,500
Tiempo de resolución de llamadas promedio	7.2 minutos
Gastos operativos totales del centro de llamadas	$ 22.6 millones

First Bank (FRBA) - Modelo de negocio: segmentos de clientes

Empresas locales pequeñas y medianas

A partir del cuarto trimestre de 2023, First Bank atiende a 3.782 pequeñas y medianas empresas en su mercado regional. Cartera total de préstamos comerciales para PYME: $ 248.3 millones.

Segmento de negocios	Número de clientes	Valor total del préstamo
Negocios minoristas	1,456	$ 87.6 millones
Servicios profesionales	1,124	$ 65.4 millones
Fabricación	782	$ 53.2 millones

Clientes de banca minorista individual

Total de clientes de banca minorista individual: 142,567. Saldo promedio de la cuenta: $ 24,350.

• Cuentas corrientes personales: 89,234
• Cuentas de ahorro personal: 53,333
• Edad promedio del cliente: 42 años

Individuos de alto nivel de red

El segmento de clientes de alto nivel de red representa $ 612.7 millones en activos administrados. Piso neto individual promedio: $ 3.8 millones.

Categoría de activos	Valor total	Número de clientes
Carteras de inversión	$ 423.6 millones	892
Banca privada	$ 189.1 millones	416

Proveedores de servicios profesionales locales

Proveedores de servicios profesionales Segmento de clientes: 2,345 clientes. Ingresos bancarios comerciales totales: $ 37.4 millones.

• Firmas legales: 678 clientes
• Prácticas médicas: 542 clientes
• Firmas de contabilidad: 412 clientes

Empresas comerciales regionales

Segmento regional de empresas comerciales: 1.203 clientes corporativos. Préstamos comerciales totales: $ 674.2 millones.

Sector industrial	Número de clientes	Valor total del préstamo
Bienes raíces	412	$ 276.5 millones
Tecnología	287	$ 189.3 millones
Cuidado de la salud	204	$ 132.6 millones
Energía	156	$ 75.8 millones

First Bank (FRBA) - Modelo de negocio: Estructura de costos

Mantenimiento de la infraestructura tecnológica

Costos anuales de infraestructura tecnológica para First Bank (FRBA) en 2023: $ 18.4 millones

Categoría de costos tecnológicos	Gasto anual
Sistemas bancarios centrales	$ 7.2 millones
Infraestructura de ciberseguridad	$ 5.6 millones
Plataformas de banca digital	$ 3.9 millones
Servicios en red y en la nube	$ 1.7 millones

Salarios y beneficios de los empleados

Gastos totales de personal para 2023: $ 92.3 millones

• Salario promedio de empleados: $ 76,500
• Total de empleados: 1.205
• Costos de seguro de salud por empleado: $ 6,750
• Asignación de beneficios de jubilación: $ 12.4 millones

Gastos operativos de la red de sucursales

Costos operativos de la red total de sucursales en 2023: $ 34.6 millones

Categoría de gastos	Costo anual
Alquiler e instalaciones	$ 15.2 millones
Utilidades	$ 4.8 millones
Mantenimiento	$ 6.3 millones
Equipo de rama	$ 8.3 millones

Cumplimiento regulatorio y gestión de riesgos

Cumplimiento total de cumplimiento y gastos de gestión de riesgos: $ 22.7 millones

• Personal legal y de cumplimiento: 87 empleados
• Sistemas de informes regulatorios: $ 5.3 millones
• Tarifas de auditoría y consultoría externa: $ 3.9 millones
• Programas de capacitación de cumplimiento: $ 1.2 millones

Costos de marketing y adquisición de clientes

Gastos de marketing total para 2023: $ 16.5 millones

Canal de marketing	Gastos
Marketing digital	$ 6.7 millones
Medios tradicionales	$ 4.2 millones
Adquisición de clientes	$ 5.6 millones

First Bank (FRBA) - Modelo de negocios: flujos de ingresos

Ingresos por intereses de préstamos y productos de crédito

Para el año fiscal 2023, First Bank reportó ingresos por intereses de $ 214.3 millones de las carteras de préstamos. El desglose de los ingresos por intereses incluye:

Categoría de préstamo	Ingresos de intereses ($ M)
Préstamos comerciales	87.6
Préstamos al consumo	62.9
Préstamos hipotecarios	63.8

Tarifas de servicio bancario

Las tarifas de servicio bancario generaron $ 45.2 millones en ingresos para 2023, con la siguiente distribución:

• Tarifas de mantenimiento de la cuenta: $ 18.7 millones
• Tarifas de sobregiro: $ 12.5 millones
• Tasas de transferencia de cables: $ 7.3 millones
• Otros servicios bancarios: $ 6.7 millones

Servicios de inversión y gestión de patrimonio

Los servicios de inversión del primer banco generados $ 32.6 millones en ingresos para 2023, con segmentos clave que incluyen:

Tipo de servicio	Ingresos ($ M)
Gestión de activos	15.4
Aviso financiero	11.2
Servicios de corretaje	6.0

Tarifas de transacción

Las tarifas de transacción totalizaron $ 22.8 millones en 2023, incluyendo:

• Tarifas de transacción de cajeros automáticos: $ 8.6 millones
• Tarifas de punto de venta: $ 7.9 millones
• Tarifas de transacción de pago en línea: $ 6.3 millones

Cargos de servicio bancario digital

Servicios de banca digital generados $ 16.5 millones en ingresos para 2023, con el siguiente desglose:

Servicio digital	Ingresos ($ M)
Tarifas de banca móvil	7.2
Servicios de pago de facturas en línea	5.3
Gestión de cuentas digitales	4.0

First Bank (FRBA) - Canvas Business Model: Value Propositions

You're looking at what First Bank (FRBA) is actually offering to its customers as of late 2025. It's not just about accounts; it's about specialized lending and a commitment to local relationships, backed by solid numbers.

The bank's core commercial value proposition centers on tailored solutions for specific business segments. First Bank (FRBA) is definitely emphasizing growth in its Commercial and Industrial ("C&I") portfolio, which showed strong organic growth in the third quarter of 2025. This focus builds on earlier momentum, as the first quarter of 2025 also highlighted strong growth in both the C&I and owner-occupied commercial real estate portfolios.

For all customers, First Bank (FRBA) provides the full suite of traditional banking products. As of September 30, 2025, the bank managed $3.22 billion in total deposits. On the lending side, total loans stood at $3.37 billion at the same date. This balance supports a wide range of needs for individuals and businesses across its New York City to Philadelphia corridor footprint.

Here's a quick snapshot of the financial health underpinning these offerings as of September 30, 2025:

Metric	Amount/Value	Context
Total Assets	$4.03 billion	As of September 30, 2025
Total Loans	$3.37 billion	As of September 30, 2025
Total Deposits	$3.22 billion	As of September 30, 2025
Net Interest Margin (NIM)	3.71%	For the third quarter of 2025
Efficiency Ratio	51.81%	For the third quarter of 2025

The service model is explicitly relationship-focused. You hear this in their messaging: they want to be seen as local experts and trusted partners. This is being supported by technology investments, like the rollout of the Salesforce CRM tool, which management expects will aggregate customer data to enhance sales team effectiveness for both business and consumer relationships.

A key part of the value proposition is the assurance of strong asset quality. First Bank (FRBA) maintained favorable asset quality metrics through the third quarter of 2025. The ratio of nonperforming assets to total assets measured 0.36% at September 30, 2025. This represented a decline from 0.40% at June 30, 2025. Total nonperforming assets specifically were reported at $14.4 million on that date.

The bank delivers this through several key service elements:

• Tailored C&I and owner-occupied CRE lending.
• Relationship-driven service model.
• Technology deployment to support sales effectiveness.
• Consistent profitability metrics, with Return on Average Assets at 1.16% for Q3 2025.

Finance: draft 13-week cash view by Friday.

First Bank (FRBA) - Canvas Business Model: Customer Relationships

The approach to Customer Relationships at First Bank (FRBA) centers on deepening commercial ties while enhancing digital accessibility for all clients, as evidenced by recent financial performance through Q3 2025.

Dedicated relationship managers for commercial clients

The strategy emphasizes growing deep middle market commercial relationships, which is reflected in the loan portfolio composition. Commercial and Industrial (C&I) loans and owner-occupied commercial real estate loans now combine to make up 42.2% of total loans as of September 30, 2025, up from 40% at September 30, 2024. Furthermore, specialized lending groups now constitute 16% of total loans. The bank maintained an efficiency ratio of 51.81% in Q3 2025, having kept this ratio below 60% for the 25th consecutive quarter.

High-touch, personalized service model in branch locations

The commitment to relationship-driven growth supports the high-touch service model. The bank reported total deposits of $3.22 billion as of September 30, 2025. The success in maintaining and growing balances amid pricing competition is noted, with total deposits increasing by $167.7 million, or 5.5%, from December 31, 2024, to September 30, 2025.

Metric	Q3 2025 Value	Comparison Point
Net Income	$11.7 million	Up from $8.2 million in Q3 2024
Tangible Book Value per Share	$15.33	12.4% annualized growth from Q2 2025
Nonperforming Assets to Total Assets	0.36%	Declined from 0.40% at June 30, 2025

Targeted promotional campaigns for new deposit relationships

Deposit gathering efforts have been successful, with total deposits reaching $3.22 billion at September 30, 2025. The average total cost of deposits for the third quarter of 2025 was 2.69%. This cost management is a key outcome, as the average total cost of deposits declined three basis points from the linked quarter. In Q1 2025, total deposits grew 8.5% annualized from the linked quarter ended December 31, 2024, reaching $3.12 billion.

• Non-interest bearing demand deposits comprised 18.0% of total deposits at September 30, 2025.
• Non-interest bearing demand deposits were 17.0% of total deposits at December 31, 2024.
• Time deposits increased by $145.7 million from year-end 2024 to comprise 26.5% of total deposits at September 30, 2025.

Self-service options via enhanced online and mobile banking

While First Bank (FRBA) emphasizes commercial relationships, the broader market trend shows high digital adoption, which informs the self-service component. Nationally, a significant majority of consumers, 77 percent, prefer to manage bank accounts via a mobile app or a computer. Globally, 72% of banking customers now prefer using mobile apps for core banking services.

The bank's Q1 2025 performance highlighted excellent C&I loan growth achieved while the efficiency ratio remained below 60% for the 23rd consecutive quarter. This operational efficiency helps fund digital enhancements.

First Bank (FRBA) - Canvas Business Model: Channels

You're looking at how First Bank (FRBA) gets its value proposition-that personalized, community-focused banking-out to its customers as of late 2025. The channel strategy balances a physical footprint with necessary digital capabilities, which is key for a bank operating across the New York to Philadelphia corridor and into Florida.

Physical Branch Network in New Jersey, Pennsylvania, and Florida

The core of First Bank (FRBA)'s physical reach is concentrated in its established markets. As of the third quarter of 2025, the bank maintained a network of 26 full-service branches. This physical presence is deliberately focused along the New York City to Philadelphia corridor, which is where the bank has historically built its relationships.

The distribution across the three states is specific:

• New Jersey locations span counties like Mercer, Somerset, and Morris.
• Pennsylvania locations are concentrated in the southeastern corridor, including Chester and Delaware counties.
• Florida is served by a single location in Palm Beach.

This physical network is supported by the bank's overall size; as of September 30, 2025, First Bank (FRBA) reported total assets of $4.03 billion. The branch strategy is about maintaining that local, relationship-based access that defines a community bank.

Online and Mobile Banking Platforms for Consumer and Business Clients

To supplement the physical network, First Bank (FRBA) relies on its digital channels to serve both consumer and business clients effectively. These platforms are crucial for transactional banking and staying competitive in a market where digital adoption is high. The bank's strategy includes investments in its digital platform, aiming to unlock new markets through technology alongside branch expansion.

Key digital channel capabilities include:

• Online banking via the bank's website.
• Mobile banking applications accessible on smartphones and tablets.
• Transactional capabilities such as fund transfers between accounts and electronic bill payment.
• Remote deposit capture for checks.
• Ability for customers to review account statements and set up customized account notifications.

Honestly, the digital offering has to be seamless; if onboarding takes 14+ days, churn risk rises.

Loan Production Offices (LPOs) for Geographic Expansion

Loan Production Offices serve as a specialized channel for geographic expansion, focusing purely on originating loans without offering full deposit services. While the prompt mentions an example in Texas, First Bank (FRBA)'s reported expansion focus, as of late 2025, appears centered on deepening its presence within its existing New Jersey and Pennsylvania markets, as evidenced by recent branch openings in county seats like Trenton, NJ, and Media, PA. The strategy emphasizes growth in key lending segments like commercial and industrial (C&I) and owner-occupied commercial real estate loans, which are driven by these relationship-focused lending teams.

The success of this channel is reflected in loan growth figures. For the three months ended June 30, 2025, loans were up $91 million, or 11% annualized. Over the trailing twelve months, loans grew by $329 million, or 11%.

ATMs and Third-Party Payment Networks

For immediate cash access and basic transactions, First Bank (FRBA) utilizes its own ATM infrastructure alongside participation in broader networks. The channel includes providing customers with ATM and debit cards. Beyond proprietary access, the bank supports standard electronic transfer mechanisms essential for modern business operations.

The electronic services provided through these channels include:

• Wire transfer services.
• ACH (Automated Clearing House) transfer services.
• Banking by phone access via a toll-free number.

The bank's Q3 2025 results show total deposits at $3.22 billion, indicating significant transaction volume moving through these various access points, both physical and electronic.

Here's a quick look at some key operational and financial metrics tied to the bank's scale as of late 2025:

Metric	Value as of September 30, 2025	Value as of December 31, 2024
Total Assets	$4.03 billion	$3.78 billion
Total Deposits	$3.22 billion	$3.06 billion
Total Loans	(Not specified for 9/30/25, but up 7.3% from 12/31/24)	(Implied: $3.78B assets - $0.56B cash/equiv at 12/31/24, actual loan was $3.13B based on Q3 2024 data)
Q3 2025 Net Income	$11.7 million	N/A (Q4 2024 Net Income was $10.5 million)
Full-Service Branches	26 (as of late 2024/early 2025 reporting)	26

Finance: draft 13-week cash view by Friday.

First Bank (FRBA) - Canvas Business Model: Customer Segments

You're looking at the core groups First Bank (FRBA) serves, based on their late 2025 financial structure. Honestly, the numbers tell a clear story about where the bank is putting its lending focus.

Small to mid-sized businesses (SMBs) and commercial enterprises

This segment is clearly a primary driver of loan growth, though it comes with some credit risk exposure. For the nine months ending September 30, 2025, net charge-offs primarily reflected losses within the Bank's small business portfolio. Still, the overall loan book is diversifying. As of September 30, 2025, Commercial and Industrial (C&I) loans stood at $740.350 million.

The focus on business lending is clear when you look at the combined portfolio strength:

• C&I and owner-occupied commercial real estate loans represented a combined 42.2% of total loans as of September 30, 2025.
• This combined segment grew from 40% of total loans at September 30, 2024.
• Specialized lending groups, a subset of commercial activity, accounted for 16% of total loans.

Owner-occupied commercial real estate borrowers

While the exact split isn't isolated, this group is a key part of the commercial engine. The growth in this area, combined with C&I, shows where relationship managers are spending their time. The total loan portfolio reached $3.37 billion at September 30, 2025, showing significant asset deployment to these core commercial clients.

Retail consumers and families in the regional footprint

Retail consumers and families are the bedrock of First Bank (FRBA)'s funding base, as seen in their deposit structure. Total deposits reached $3.22 billion as of September 30, 2025. The composition of these funds shows a shift toward more stable, albeit potentially more expensive, funding sources to support loan growth.

Here's how the deposit base looked at the end of Q3 2025, compared to the end of 2024:

Deposit Type	% of Total Deposits (9/30/2025)	% of Total Deposits (12/31/2024)
Non-interest bearing demand deposits	18.0%	17.0%
Interest bearing demand deposits	17.4%	20.6%
Money market and savings deposits	38.1%	39.2%
Time deposits	26.5%	23.2%

You can see time deposits grew their share by 3.3 percentage points over the first nine months of 2025. This suggests a focus on attracting and retaining core consumer and business operating balances.

High-net-worth individuals utilizing wealth management services

Specific financial metrics for the wealth management client segment, such as assets under management or client count, weren't detailed in the latest public filings reviewed. However, the bank does offer wealth management services as part of its comprehensive suite, which supports the overall relationship banking model.

Finance: draft 13-week cash view by Friday.

First Bank (FRBA) - Canvas Business Model: Cost Structure

The Cost Structure for First Bank (FRBA) is heavily influenced by funding costs, operating overhead, and provisions for potential loan losses as of late 2025.

Interest expense on deposits and borrowings is a primary cost driver. The average total cost of deposits for First Bank (FRBA) was reported at 2.69% in Q3 2025, a decline of three basis points from the linked quarter, despite growth from higher-cost promotional campaigns and some brokered funding.

Non-interest expense reflects the operational scale of First Bank (FRBA). For the first quarter of 2025, this expense totaled $20.4 million, representing a 14.5% increase compared to the prior year quarter. By the third quarter of 2025, non-interest expense was $19.7 million, an increase of 5.5% compared to the third quarter of 2024.

Personnel and compensation costs are a significant component within non-interest expense, reflecting the size of the branch and lending staff. For Q3 2025, salaries and employee benefits were higher by $1.2 million compared to the prior year quarter, attributed to merit increases and a larger employee base. In Q1 2025, increases in salaries and employee benefits were $1.1 million year-over-year due to a larger employee base, and on a linked quarter basis, this category increased by $606,000 due to year-end salary increases and higher payroll taxes from bonus payments. Separately, First BanCorp. reported a $2.5 million increase in employees' compensation and benefits expenses for Q1 2025 compared to Q4 2024, driven by seasonal payroll taxes and bonuses.

Credit loss expense is a variable cost tied to asset quality and loan growth. First Bank (FRBA) recorded a credit loss expense totaling $3.0 million in Q3 2025, up from $2.6 million in Q2 2025. For the first quarter of 2025, the credit loss expense totaled $1.5 million, primarily due to loan growth during that quarter.

You can see a comparison of these key cost metrics below:

Expense Category	Q1 2025 Amount	Q3 2025 Amount
Total Non-Interest Expense	$20.4 million	$19.7 million
Credit Loss Expense	$1.5 million	$3.0 million
Average Total Cost of Deposits	Not specified for Q1 2025	2.69%

Further details on the components driving non-interest expense include:

• Salaries and employee benefits increased by $1.2 million year-over-year in Q3 2025.
• Q1 2025 non-interest expense increases included $832,000 in Other Real Estate Owned (OREO) expense due to an impairment.
• Q1 2025 occupancy and equipment costs increased by $438,000 due to new branch locations.
• A decrease of $425,000 in other professional fees was noted in Q1 2025 compared to the linked quarter.

Finance: draft 13-week cash view by Friday.

First Bank (FRBA) - Canvas Business Model: Revenue Streams

You're looking at how First Bank (FRBA) actually brings in the money, which for a bank, boils down to two main buckets: interest earned and fees collected. It's about the spread they manage between what they pay for deposits and what they earn on loans and securities, plus the service charges they levy.

The core engine is Net Interest Income (NII), which is the difference between interest earned on assets like loans and securities, and the interest paid out on liabilities like deposits and borrowings. For the third quarter of 2025, the reported NII was $35.1 million. This performance was supported by a strong loan portfolio and an expanding net interest margin (NIM) of 3.71% for Q3 2025.

Interest on loans is the biggest driver here. First Bank (FRBA) has been strategically focusing its lending efforts. You see them pushing growth in specific areas:

• Commercial and Industrial (C&I) loans.
• Owner-occupied commercial real estate loans.
• Specialized lending groups, which made up 16% of total loans.

The combined percentage of C&I and owner-occupied commercial real estate loans reached 42.2% of the total loan book as of September 30, 2025. The yield on average loans was quite healthy at 6.66% for the quarter. Total loans stood at $3.37 billion at the end of Q3 2025.

The second key revenue stream is Non-interest income, which comes from services you use every day. For Q3 2025, the component related to service charges and fees was approximately $2.7 million, which matches the linked quarter's total non-interest income figure. This income stream is crucial for diversification, though it can be lumpy due to one-time items like gains or losses on asset sales.

Here's a quick look at some key Q3 2025 figures that feed into these revenue streams:

Metric	Amount/Value (Q3 2025)
Net Interest Income (NII)	$35.1 million
Non-interest Income (Fees/Services)	Approx. $2.7 million
Total Loans	$3.37 billion
Net Interest Margin (NIM)	3.71%
Average Loan Yield	6.66%

Finally, Investment income from the securities portfolio contributes, though this area saw some volatility. For instance, the bank recorded a significant $27.9 million loss on securities during Q3 2025. This kind of event shows that while the portfolio is a source of income, it also carries near-term risk that can temporarily depress overall revenue figures, even if the core NII is strong. Management is clearly balancing asset growth with managing the interest rate risk embedded in that securities book. The total reported revenue for the quarter was $34.97 million.

You should check the breakdown of the total deposits, which were $3.22 billion at September 30, 2025, to see how much of the funding base is low-cost, non-interest-bearing deposits, as that directly impacts the cost side of the NII equation. Finance: draft 13-week cash view by Friday.