First Bank to Expand in New Jersey and Pennsylvania

New Branches in Trenton, NJ and Media, PA to Strengthen Community Ties and Help Grow Core Deposits

HAMILTON, N.J.-August 22, 2024-First Bank (NASDAQ: FRBA) announced today that it plans to open new branches in New Jersey and Pennsylvania this Fall, with a focus on providing enhanced convenience and exceptional service to retirees, families, small businesses and entrepreneurs.

The new branches in Trenton N.J. and Media, PA reinforce the community bank's commitment to its neighborhoods by expanding access across its footprint. First Bank's tagline, "Personal Bankers. Real Relationships," reflects the thoughtful approach that guides every customer interaction.

"We at First Bank are excited to expand our quality banking services throughout our footprint," said Patrick L. Ryan, President and CEO. "Our focus is on providing personalized banking and genuine relationships our customers can trust. By listening closely, asking the right questions and offering tailored solutions, we prioritize solving problems, not selling products. Our clients have direct access to top decision-makers, and our market executives are empowered to build meaningful, lasting relationships. This is what defines us as a true community bank."

Ryan says both locations were chosen because they are central to their respective counties. For instance, Media, PA., is the county seat of Delaware County and fits perfectly with the bank's strategy of establishing branches in vital central locations. He says the Media branch will be located at 22 West State Street and will lay the groundwork for further expansion throughout Pennsylvania's southeastern corridor.

The other new branch will be strategically located in Trenton, the county seat of Mercer County, right next to First Bank's headquarters in Hamilton. This branch, located at 101 S. Warren Street will bolster First Bank's presence in New Jersey's capital. According to Ryan, this expansion deepens the bank's community connections and broadens its reach across the state.

"As a community bank, we are dedicated to meeting the diverse financial needs of the communities we serve, supporting small business success, engaging in community service through volunteer efforts and adopting environmentally responsible practices," Ryan says.

Furthermore, as part of the strategic review of the existing branch footprint, the Bank will be closing the branch located at 940 Baltimore Pike, Glen Mills, PA.

Expanding Services for Local Business Owners

First Bank is expanding its services to better support entrepreneurs by enhancing resources for small business and lower-middle market commercial entities, covering the entire business life cycle. The bank recently launched a new specialty financing group that provides asset-based lending, enabling business owners and entrepreneurs to convert illiquid assets into additional capital.

Supporting entrepreneurs has always been integral to First Bank's history. In late 2008, Ryan led an investment group that recapitalized First Bank with $20 million, driven by a clear vision: to establish a community bank that delivers best-in-class services and capital access for business owners and entrepreneurs across the New York City to Philadelphia corridor. Today, First Bank boasts $3.62 billion in assets, as reflected in its most recent quarterly filing.

Ryan was recently honored with the Live United Corporate Award by the United Way of Greater Mercer County. He was also awarded EY's Entrepreneur of the Year 2022 New Jersey Award.

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

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About First Bank

First Bank (firstbanknj.com) is a New Jersey state-chartered bank with 26 full-service branches throughout New Jersey in Burlington, Gloucester, Hunterdon, Mercer, Middlesex, Somerset and Morris counties, as well as in Bucks and Chester counties in Pennsylvania and in Palm Beach, Florida. With $3.62 billion in assets as of June 30, 2024, First Bank offers a full 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 under the symbol "FRBA."

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