First Bank (FRBA): Business Model Canvas [Jan-2025 Mis à jour]

Dans le paysage dynamique de la banque régionale, la première banque (FRBA) apparaît comme une puissance stratégique, mélangeant de manière transparente les services financiers traditionnels avec l'innovation numérique de pointe. En fabriquant méticuleusement une toile complète du modèle commercial, la banque démontre son engagement envers les expériences bancaires personnalisées, en tirant parti d'un réseau robuste de partenariats locaux, d'une infrastructure technologique avancée et de solutions centrées sur le client qui le distinguent sur un marché financier compétitif. Ce plan complexe révèle comment le FRBA transforme les défis bancaires complexes en opportunités rationalisées et axées sur la valeur pour les entreprises et les particuliers.

First Bank (FRBA) - Modèle d'entreprise: partenariats clés

Alliances stratégiques avec les entreprises locales et les fournisseurs de technologies financières

First Bank (FRBA) maintient des partenariats stratégiques avec les fournisseurs de technologies suivants et les réseaux commerciaux locaux:

Type de partenaire	Nombre de partenariats	Valeur de collaboration annuelle
FinTech Companies	12	3,2 millions de dollars
Réseaux d'entreprise locaux	37	1,7 million de dollars

Partenariats avec les réseaux de cartes de crédit et les processeurs de paiement

FRBA collabore avec les principaux partenaires d'infrastructure de paiement:

• Intégration du réseau de visa
• Services de traitement mastercard
• Services marchands américains Express

Réseau de paiement	Volume de transaction	Frais de traitement annuels
Visa	487 millions de dollars	2,3 millions de dollars
MasterCard	412 millions de dollars	1,9 million de dollars

Collaboration avec les compagnies d'assurance

FRBA s'associe aux assureurs pour les produits financiers groupés:

• Assurance à l'échelle nationale
• Liberty Mutual
• Ferme d'État

Partenaire d'assurance	Offres de produits	Part des revenus annuels
À l'échelle nationale	3 produits groupés	1,1 million de dollars
Liberty Mutual	2 produits groupés	0,9 million de dollars

Relations avec les organisations régionales de développement économique

First Bank maintient des partenariats avec les groupes de développement économique:

• Autorité de développement économique du New Jersey
• Chambre de commerce régionale
• Bureau local de l'administration des petites entreprises (SBA)

Organisation	Focus de partenariat	Investissement collaboratif annuel
Développement économique du NJ	Prêts aux petites entreprises	2,5 millions de dollars
Chambre régionale	Extension du réseau d'entreprise	0,6 million de dollars

First Bank (FRBA) - Modèle d'entreprise: activités clés

Services de vente au détail et commerciaux

First Bank a déclaré 4,2 milliards de dollars d'actifs totaux au quatrième trimestre 2023. La banque a traité environ 3,5 millions de transactions clients par mois dans son réseau de 350 succursales.

Catégorie de service	Volume de transaction annuel	Revenus générés
Banque de détail	42 millions de transactions	385 millions de dollars
Banque commerciale	18 millions de transactions	276 millions de dollars

Développement et maintenance de la plate-forme bancaire numérique

First Bank a investi 47 millions de dollars dans les infrastructures numériques en 2023. La plate-forme numérique prend en charge:

• Application bancaire mobile avec 1,2 million d'utilisateurs actifs
• Plateforme bancaire en ligne Traitement 22 millions de transactions numériques par an
• Infrastructure de cybersécurité protégeant 4,2 milliards de dollars d'actifs clients

Gestion des risques et surveillance de la conformité

Les activités de conformité impliquaient 285 membres du personnel dédié avec un budget opérationnel annuel de 32 millions de dollars.

Zone de conformité	Fréquence de surveillance	Coût annuel de conformité
Anti-blanchiment	Continu	12,5 millions de dollars
Représentation réglementaire	Trimestriel	8,3 millions de dollars

Acquisition de clients et gestion des relations

First Bank a acquis 87 000 nouveaux clients en 2023, avec un taux de rétention de la clientèle de 93%.

• Dépenses de marketing: 22 millions de dollars
• Centres de service à la clientèle: 42 emplacements
• Interaction moyenne du client: 3,7 points de contact par mois

Innovation des produits financiers et gestion du portefeuille

First Bank a lancé 7 nouveaux produits financiers en 2023, avec un portefeuille de produits total d'une valeur de 1,6 milliard de dollars.

Catégorie de produits	Nombre de produits	Valeur totale du portefeuille
Banque personnelle	14 produits	620 millions de dollars
Banque commerciale	9 produits	980 millions de dollars

First Bank (FRBA) - Modèle d'entreprise: Ressources clés

Réseau bancaire régional

Au quatrième trimestre 2023, First Bank exploite 91 succursales principalement dans le New Jersey et la Pennsylvanie. Le réseau bancaire physique total couvre 4 États avec une concentration stratégique sur le marché.

État	Nombre de branches	Pénétration du marché
New Jersey	62	68%
Pennsylvanie	29	32%

Infrastructure bancaire numérique

La plate-forme numérique de First Bank a traité 3,2 millions de transactions en ligne en 2023, ce qui représente une augmentation de 22% d'une année à l'autre.

• Application bancaire mobile avec 127 000 utilisateurs actifs
• Plateforme bancaire en ligne soutenant 98% des services bancaires de base
• Investissement de sécurité des transactions numériques de 4,2 millions de dollars en 2023

Ressources de capital humain

First Bank emploie 743 employés à temps plein en décembre 2023.

Catégorie des employés	Nombre	Pourcentage
Gestion	86	11.6%
Équipe technologique	124	16.7%
Service client	287	38.6%

Base de données client

La First Bank maintient une clientèle de 214 500 comptes actifs au T4 2023.

• Comptes bancaires personnels: 156 300
• Comptes bancaires d'entreprise: 58 200
• Valeur moyenne de la relation client: 37 500 $

Ressources de conformité réglementaire

Attribution du budget du Département de la conformité: 6,3 millions de dollars en 2023.

Zone de conformité	Investissement
Technologie de réglementation	2,1 millions de dollars
Avis juridique	1,5 million de dollars
Programmes de formation	0,7 million de dollars

First Bank (FRBA) - Modèle d'entreprise: propositions de valeur

Solutions bancaires personnalisées pour les particuliers et les entreprises

First Bank propose des solutions bancaires sur mesure avec la gamme de produits spécifique suivante:

Catégorie de produits	Nombre de produits	Taux d'adoption du client moyen
Comptes de chèques personnels	7	62.3%
Comptes bancaires d'entreprise	5	47.8%
Produits de prêt spécialisés	12	38.5%

Taux d'intérêt concurrentiels et produits financiers flexibles

Offres de taux d'intérêt actuels:

Type de produit	Fourchette de taux d'intérêt
Comptes d'épargne	2.15% - 3.75%
Prêts commerciaux	4.25% - 8.50%
Taux hypothécaires	6.35% - 7.25%

Expériences de banque numérique et mobile pratique

• Téléchargements d'applications bancaires mobiles: 245 000
• Volume de transaction en ligne: 3,2 millions par mois
• Pénétration des services bancaires numériques: 68,4%

Expertise du marché local et banque axée sur la communauté

Couverture géographique:

Région	Nombre de branches	Pénétration du marché
New Jersey	47	82%
Région métropolitaine de New York	23	65%

Services de conseil financier complet

• Clients consultatifs totaux: 12 500
• Taille moyenne du portefeuille: 487 000 $
• Actifs de gestion de patrimoine: 2,3 milliards de dollars

First Bank (FRBA) - Modèle d'entreprise: relations avec les clients

Service client personnalisé via plusieurs canaux

First Bank fournit le service client via les canaux suivants:

Canal	Points de contact	Interactions annuelles du client
Réseau de succursale	87 emplacements physiques	1 247 000 interactions client
Banque en ligne	Plate-forme numérique	3 654 000 interactions numériques
Application mobile	Plateformes iOS et Android	2 876 000 interactions mobiles
Centre d'appel	Support client 24/7	1 532 000 interactions téléphoniques

Gestionnaires de relations dédiés pour les clients commerciaux

Structure de gestion des relations avec les clients commerciaux:

• Total des gestionnaires de relations commerciales: 142
• Portefeuille client moyen par gestionnaire: 47 comptes d'entreprise
• Revenus annuels moyens par relation: 876 500 $

Plates-formes de libre-service numériques

Service numérique	Taux d'adoption des utilisateurs	Transactions annuelles
Payage des factures en ligne	68%	9,247,000
Dépôt de chèques mobiles	52%	6,543,000
Transfert de compte	61%	7,876,000

Programmes d'éducation financière et de conseil réguliers

Offres de l'éducation financière:

• Total des ateliers financiers menés: 287
• Webinaires en ligne: 124
• Séminaires en personne: 163
• Total des participants: 18 700

Programmes de fidélité et de récompenses

Niveau de programme	Adhésion	Récompenses annuelles émises
Récompenses de base	87 600 membres	$2,341,000
Récompenses premium	42 300 membres	$4,876,000
Récompenses commerciales	12 700 membres	$3,654,000

First Bank (FRBA) - Modèle d'entreprise: canaux

Site Web de banque en ligne

La plate-forme bancaire en ligne de First Bank dessert 287 456 utilisateurs numériques actifs au quatrième trimestre 2023. Le site Web traite en moyenne 42 310 transactions quotidiennes avec un volume de transaction total de 214,6 millions de dollars par mois.

Métriques de plate-forme numérique	2023 statistiques
Utilisateurs en ligne actifs	287,456
Transactions quotidiennes	42,310
Volume de transaction mensuel	214,6 millions de dollars

Application bancaire mobile

L'application mobile compte 213 789 utilisateurs actifs mensuels, avec une note 4.5 étoiles sur Apple App Store et Google Play Store. Les transactions basées sur les applications représentent 37% du total des interactions bancaires numériques.

• Utilisateurs actifs mensuels: 213 789
• Note de l'App Store: 4.5 / 5
• Part des transactions numériques: 37%

Réseau de succursale physique

La First Bank maintient 126 succursales physiques dans 7 États, avec une fréquentation quotidienne moyenne de 1 245 clients par succursale. Les coûts opérationnels du réseau de succursales en 2023 étaient de 48,3 millions de dollars.

Détails du réseau de branche	2023 statistiques
Total des succursales	126
États couverts	7
Foods du client quotidien par succursale	1,245
Coûts opérationnels totaux de succursale	48,3 millions de dollars

Infrastructure ATM

First Bank exploite 387 distributeurs automatiques de billets avec 2,1 millions de transactions ATM mensuelles. Les dépenses de maintenance du réseau ATM total en 2023 étaient de 12,7 millions de dollars.

• Total des distributeurs automatiques: 387
• Transactions ATM mensuelles: 2,1 millions
• Coût annuel de maintenance des guichets automatiques: 12,7 millions de dollars

Centres d'appels de service client

Les centres d'appels de la First Bank gèrent 94 500 interactions clients mensuellement, avec un temps de résolution d'appel moyen de 7,2 minutes. Les dépenses opérationnelles du centre d'appels en 2023 étaient de 22,6 millions de dollars.

Métriques du centre d'appel	2023 statistiques
Interactions mensuelles du client	94,500
Temps de résolution des appels moyens	7,2 minutes
Dépenses opérationnelles du centre d'appel total	22,6 millions de dollars

First Bank (FRBA) - Modèle d'entreprise: segments de clientèle

Petites et moyennes entreprises locales

Au quatrième trimestre 2023, First Bank dessert 3 782 petites et moyennes entreprises de son marché régional. Portfolio total de prêts commerciaux pour les PME: 248,3 millions de dollars.

Segment d'entreprise	Nombre de clients	Valeur totale du prêt
Commerces de détail	1,456	87,6 millions de dollars
Services professionnels	1,124	65,4 millions de dollars
Fabrication	782	53,2 millions de dollars

Clients bancaires de détail individuels

Total des clients de la banque de détail individuels: 142 567. Solde moyen du compte: 24 350 $.

• Comptes de chèques personnels: 89 234
• Comptes d'épargne personnels: 53 333
• Âge du client moyen: 42 ans

Individus à haute nette

Le segment de clientèle à haute teneur ne représente 612,7 millions de dollars d'actifs gérés. Valeur nette individuelle moyenne: 3,8 millions de dollars.

Catégorie d'actifs	Valeur totale	Nombre de clients
Portefeuilles d'investissement	423,6 millions de dollars	892
Banque privée	189,1 millions de dollars	416

Fournisseurs de services professionnels locaux

Segment de clientèle des fournisseurs de services professionnels: 2 345 clients. Revenus bancaires commerciaux totaux: 37,4 millions de dollars.

• Cirgins juridiques: 678 clients
• Pratiques médicales: 542 clients
• Cabinets comptables: 412 clients

Entreprises commerciales régionales

Segment des entreprises commerciales régionales: 1 203 clients d'entreprise. Prêt commercial total: 674,2 millions de dollars.

Secteur de l'industrie	Nombre de clients	Valeur totale du prêt
Immobilier	412	276,5 millions de dollars
Technologie	287	189,3 millions de dollars
Soins de santé	204	132,6 millions de dollars
Énergie	156	75,8 millions de dollars

First Bank (FRBA) - Modèle d'entreprise: Structure des coûts

Maintenance des infrastructures technologiques

Coût des infrastructures technologiques annuelles pour First Bank (FRBA) en 2023: 18,4 millions de dollars

Catégorie de coûts technologiques	Dépenses annuelles
Systèmes bancaires de base	7,2 millions de dollars
Infrastructure de cybersécurité	5,6 millions de dollars
Plateformes bancaires numériques	3,9 millions de dollars
Services de réseau et de cloud	1,7 million de dollars

Salaires et avantages sociaux des employés

Total des dépenses du personnel pour 2023: 92,3 millions de dollars

• Salaire moyen des employés: 76 500 $
• Total des employés: 1 205
• Coûts d'assurance maladie par employé: 6 750 $
• Attribution des prestations de retraite: 12,4 millions de dollars

Dépenses opérationnelles du réseau de succursales

Coûts opérationnels du réseau de succursales en 2023: 34,6 millions de dollars

Catégorie de dépenses	Coût annuel
Loyer et installations	15,2 millions de dollars
Services publics	4,8 millions de dollars
Entretien	6,3 millions de dollars
Équipement de succursale	8,3 millions de dollars

Compliance réglementaire et gestion des risques

Frais de conformité totale et de gestion des risques: 22,7 millions de dollars

• Personnel juridique et de conformité: 87 employés
• Systèmes de rapports réglementaires: 5,3 millions de dollars
• Frais d'audit externe et de conseil: 3,9 millions de dollars
• Programmes de formation en conformité: 1,2 million de dollars

Coûts de marketing et d'acquisition des clients

Total des dépenses de marketing pour 2023: 16,5 millions de dollars

Canal de marketing	Frais
Marketing numérique	6,7 millions de dollars
Médias traditionnels	4,2 millions de dollars
Acquisition de clients	5,6 millions de dollars

First Bank (FRBA) - Modèle d'entreprise: sources de revenus

Revenu des intérêts des prêts et des produits de crédit

Pour l'exercice 2023, First Bank a déclaré des revenus d'intérêts de 214,3 millions de dollars provenant des portefeuilles de prêts. La rupture des revenus des intérêts comprend:

Catégorie de prêt	Revenu des intérêts ($ m)
Prêts commerciaux	87.6
Prêts à la consommation	62.9
Prêts hypothécaires	63.8

Frais de service bancaire

Les frais de service bancaire ont généré 45,2 millions de dollars de revenus pour 2023, avec la distribution suivante:

• Frais de maintenance du compte: 18,7 millions de dollars
• Frais de découvert: 12,5 millions de dollars
• Frais de transfert de fil: 7,3 millions de dollars
• Autres services bancaires: 6,7 millions de dollars

Services d'investissement et de gestion de la patrimoine

Les services d'investissement de First Bank ont ​​généré 32,6 millions de dollars en revenus pour 2023, avec des segments clés, notamment:

Type de service	Revenus ($ m)
Gestion des actifs	15.4
Avis financier	11.2
Services de courtage	6.0

Frais de transaction

Les frais de transaction ont totalisés 22,8 millions de dollars en 2023, y compris:

• Frais de transaction ATM: 8,6 millions de dollars
• Frais de point de vente: 7,9 millions de dollars
• Frais de transaction de paiement en ligne: 6,3 millions de dollars

Frais de service bancaire numérique

Services bancaires numériques générés 16,5 millions de dollars en revenus pour 2023, avec la ventilation suivante:

Service numérique	Revenus ($ m)
Frais de banque mobile	7.2
Services de paiement de factures en ligne	5.3
Gestion du compte numérique	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.