HAMILTON, N.J., May 30, 2017 (GLOBE NEWSWIRE) -- First Bank (NASDAQ:FRBA) announced today the closing of its
public offering of 3,289,474 shares of its common stock at a price to the public of $11.40 per share. The gross proceeds of the
offering, before deducting underwriting discounts and commissions and other offering expenses, are approximately $37.5 million. All
of the shares sold in the offering were offered by First Bank. In addition, First Bank has granted the underwriters a 30-day
over-allotment option to purchase up to an additional 493,421 shares of its common stock.
First Bank intends to use the net proceeds from the offering for general corporate purposes, including the
support of additional growth.
Sandler O’Neill + Partners, L.P. and Robert W. Baird & Co. Incorporated acted as joint book-running managers for
the offering. Hovde Group, LLC and FIG Partners acted as co-managers.
The offering is being made only by means of an offering circular. Copies of the offering circular relating to
this offering may be obtained by contacting Sandler O’Neill + Partners, L.P., Attention: Prospectus Department, 1251 Avenue of the
Americas, 6th Floor, New York, NY 10020, or via email at syndicate@sandleroneill.com; or Robert W. Baird & Co. Incorporated, Attention: Syndicate
Department, 777 E. Wisconsin Avenue, Milwaukee, WI 53202, or via email at syndicate@rwbaird.com.
This press release is for informational purposes only and shall not constitute an offer to sell or a
solicitation of an offer to buy the securities, which is being made only by means of an offering circular, nor shall there be any
sale of the securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful, prior to
registration or qualification under the securities laws of any such state or jurisdiction. The securities are neither insured nor
approved by the Federal Deposit Insurance Corporation.
About First Bank
First Bank is a New Jersey state chartered bank with ten full-service branches in Cranbury, Denville, Ewing,
Flemington, Hamilton, Lawrence, Randolph, Somerset and Williamstown, New Jersey, and Trevose, Pennsylvania. With $1.1 billion in
assets as of March 31, 2017, First Bank offers a traditional range of deposit and loan products to individuals and businesses
throughout the New York City to Philadelphia corridor.
Forward-Looking Statements
This press release contains forward-looking statements made pursuant to the safe harbor of the Private
Securities Litigation Reform Act of 1995. Statements about First Bank’s expectations, beliefs, plans, predictions, forecasts,
objectives, assumptions or future events or performance are not historical facts and may be forward-looking. These statements may
be identified by such forward looking terminology as “should”, “expect”, “look”, “believe”, “view”, "opportunity”, “allow”,
“continues”, “reflects”, “typically”, “usually”, “anticipate”, “may”, “will”, or similar statements or variations of such terms.
There can be no assurance that First Bank’s expectations reflected in such forward-looking statements will be achieved.
Forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results
to differ materially from expected results. Any forward-looking statements are qualified in their entirety by reference to the
factors discussed in the section titled “Risk Factors” in First Bank’s offering circular relating to this offering, including the
documents incorporated by reference therein, and other risks described in documents subsequently filed by First Bank from time to
time.
Investors are cautioned not to place undue reliance on any forward-looking statements. These forward-looking
statements speak only as of the date on which it is made. First Bank assumes no obligation to update or supplement any such
forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable
law or regulation.
Contact: Patrick L. Ryan President and CEO First Bank (609) 643-0168 patrick.ryan@firstbanknj.com
