First Bank (FRBA) Q2 2023 Earnings Call Transcript

First Bank (NASDAQ:FRBA) Q2 2023 Earnings Conference Call July 27, 2023 9:00 AM ET

Company Participants

Patrick Ryan – President & Chief Executive Officer

Andrew Hibshman – Chief Financial Officer

Darleen Gillespie – Chief Retail Bank Officer

Peter Cahill – Chief Lending Officer

Conference Call Participants

Nick Cucharale – Hovde Group

Manuel Navas – D.A. Davidson


Thank you for standing by. My name is Kayla Baker and I will be your conference operator today. At this time, I would like to welcome everyone to the First Bank FRBA Earnings Conference Call Second Quarter 2023. [Operator Instructions] I would now like to turn the call over to CEO, Pat Ryan.

Patrick Ryan

Thank you, Kayla and welcome, everybody, to today’s second quarter 2023 First Bank earnings conference call. I am joined by Andrew Hibshman, our Chief Financial Officer; Darleen Gillespie, our Chief Retail Banking Officer; and Peter Cahill, our Chief Lending Officer. Before we begin, however Andrew will read the safe harbor statement.

Andrew Hibshman

The following discussion may contain forward-looking statements concerning the financial condition, results of operations and business of First Bank. We caution that such statements are subject to a number of uncertainties and actual results could differ materially and therefore, you should not place undue reliance on any forward-looking statements we make. We may not update any forward-looking statements we make today for future events or developments. Information about risks and uncertainties are described under Item 1A, Risk Factors, in our annual report on Form 10-K for the year ended December 31st, 2022, filed with the FDIC.

Pat, back to you.

Patrick Ryan

Overall, the big news, obviously, is the closing of the Malvern Bank acquisition in mid-July. The financial results for the quarter do not include the combined franchises but they do include some minor level of merger-related costs. The

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