November 19, 2019 Share

First Bank Named Among Fastest Growing Companies in New Jersey

NJBIZ Recognizes First Bank Among Fast 50 for Fourth Consecutive Year

First Bank President and CEO Patrick L. Ryan

HAMILTON, N.J.—Nov. 19, 2019—First Bank (NASDAQ: FRBA) announced today that it is the 12th among NJBIZ’s Fast 50, which represents a list of the fastest growing companies in New Jersey. This is the fourth consecutive year that First Bank has received the Fast 50 recognition.

“It is an honor to be recognized as one of 50 New Jersey companies driving the local economy,” First Bank President and CEO Patrick L. Ryan, said. “As a community bank, our success and growth lie in upholding our commitment to building a better local community. Not only do we know our customers by name, but we go above and beyond banking solutions to be a real asset to our neighbors—focusing on more than just the financial statement.”

Each year NJBIZ recognizes 50 New Jersey businesses for progressively contributing to the success of the state’s economic growth and stability, ranking companies based on revenue increases over the past three years. First Bank’s total revenues have increased 90.7% from $40.0 million in 2016 to $76.2 million in 2018, securing its ranking among the Fast 50.

First Bank is one of the fastest growing community banks in the nation, as well as New Jersey. During the past five years, First Bank has made four acquisitions that have involved expanding its footprint in New Jersey, as well as eastern Pennsylvania. Most recently the bank strengthened its position in its “backyard” with the acquisition of Grand Bank, N.A. with new branches in Mercerville and Hamilton Square, New Jersey.

NJBIZ’s Fast 50 ranking is one of several awards First Bank has received recently. First Bank was ranked among the Philadelphia Business Journal’s Soaring 76 and has been named one of S&P Global Market Intelligence’s Best Performing Community Banks in the United States for record growth and profitability.

What First Bank Brings to More Customers
First Bank operates with a long-term mindset. It recognizes that its reputation is its most valuable asset. To preserve its good name, First Bank keenly focuses on delivering the best long-term results. By providing great recommendations and following through on its promises, the community bank continues to build its reputation and base of happy customers.

The bank’s tagline says it all: Personal bankers. Real relationships. Old-school relationships that begin with a conversation—that’s the secret behind First Bank’s success. The bank operates with a long-term approach, which centers on being a solution-provider and doing good work in the community. Employees listen intently and ask smart questions, so they can provide the best answer.

First Bank believes in local decision-making. In other words, clients have access to the bank’s decision-makers. Market executives have lending authority—and use it. For larger clients, customers can expect to talk to the bank’s CEO, who plays a pivotal role in helping to foster lasting business relationships.

The community bank’s branches offer the bank’s full range of financial solutions for families and businesses, including:
• Personal deposit accounts
• Business deposit accounts
• Certificates of deposits
• Retirement accounts
• Cash management services
• Commercial lending
• Lines of credit
• Term loans
• Real estate loans

The bank offers traditional deposit and loan banking services for individuals, families and commercial clients. The bank has approximately 215 employees working throughout New Jersey in Burlington, Gloucester, Hunterdon, Mercer, Middlesex, Somerset and Morris counties, as well as in Bucks and Chester counties, Pennsylvania.

To learn more about First Bank, visit firstbankpa.com or firstbanknj.com.

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About First Bank

First Bank (firstbanknj.com) is a New Jersey state-chartered bank with 18 full-service branches
throughout New Jersey in Burlington, Gloucester, Hunterdon, Mercer, Middlesex, Somerset and Morris counties, as well as in Bucks and Chester counties, Pennsylvania. With $2.05 billion in assets as of September 30, 2019, First Bank offers a traditional range of deposit and loan products to individuals and businesses throughout the New York City to Philadelphia corridor. First Bank’s common stock is listed on the Nasdaq Global Market exchange under the symbol “FRBA.”