First Bank Announces Promotions Following Strong 2023

Community Bank Recognizes Top Performers Following Year of Record Growth

HAMILTON, N.J. —April 18, 2024—First Bank (NASDAQ: FRBA) announced today that it has promoted 38 employees who played key roles supporting customers and communities while helping the bank thrive and grow amid a record 2023.

Some notable promotions within senior leadership include: Darleen Gillespie, Chief Retail Banking Officer, promoted to Executive Vice President; Michael Smith, Director of Small Business and Corporate Development, promoted to First Senior Vice President; Michael Giacobello, promoted to Senior Vice President/Business Development Manager; and Casi Tiernan, promoted to Senior Vice President/Director of Treasury Management.

“Running a community bank that flourishes and grows and consistently delivers reliable services to its neighbors demands individuals who are deeply committed and ready to exceed expectations in any scenario. These leaders do just that,” said First Bank President and CEO Patrick L. Ryan. “Our top and bottom-line performance led First Bank to unprecedented expansion in 2023. There are many reasons for this success. Our team tops the list.”

First Bank closed 2023 with $3.61 billion in assets, a $876.4 million increase from the $2.73 billion at the end of 2022. Total loans also increased from $2.34 billion at the end of 2022 to $3.02 billion a year later, while total deposits increased from $2.29 billion to $2.97 billion.

First Bank also closed on the acquisition of Malvern Bank in 2023. The combined stock and cash transaction was valued at $129.7 million. The acquisition also expanded First Bank’s footprint in the highly desirable Philadelphia Main Line and added a branch in Florida.

First Bank Adds to the Executive Management Team

Four promotions within the executive ranks have taken effect:

• Gillespie, a Mount Holly, N.J., resident, has been promoted to EVP/Chief Retail Banking Officer. She joined First Bank in 2022 as FSVP/Chief Retail Banking Officer.

• Smith, a resident of Wall, N.J., has been promoted to FSVP/Director of Small Business & Corporate Development. He joined First Bank in 2022 as SVP/Director of Small Business & Corporate Development.

• Giacobello, who lives in Bridgewater, N.J., has been promoted to SVP/Manager – Business Development. He joined First Bank in 2021 and previously held the position of FVP/Manager – Market Development.
• Tiernan, a resident of Langhorne, Pa, has been promoted to SVP/Director of Treasury Management. She joined the company in 2018 and was previously Head of Cash Management.

Pictured above (L-R): Darleen Gillespie, Michael Smith, Michael Giacobello, Casi Tiernan

Additional First Bank promotions include:

• Shatha Abbasi – VP/Internal Auditor
• John Alfredsen – VP/Senior Credit Underwriter
• Megan Brugnoli – Human Resources Generalist
• Michael Cahill – FVP/Relationship Manager II
• Edward Caporellie – FVP/Market Manager
• Louis Ciarlante – VP/Relationship Manager II
• Leah Cole – Senior Commercial Loan Administrator
• Cori Cubberley – FVP/Lending Data Integrity Manager
• Beverly Francis-Campeau – Senior Commercial Loan Administrator
• Mona Goff – AVP/Electronic Banking Manager
• Alison Goldy – Loan Accounting Specialist II
• Sharon Grabowski – AVP/Deposit Operations Manager
• Nikki Harrison – AT/Electronic Banking Analyst II
• Jamie Hart – Commercial Loan Administrator II
• Philip Heberling – FVP/Relationship Manager II
• D. Chadwick Holmes – Loan Servicing & Imaging Specialist
• Renata Kudelko – Personal Banker
• Christopher Lehmann – Credit Analyst II
• Lydia Lohrey – Senior Loan Documentation Specialist
• Valerie Maloupis – Team Leader – Senior Flood Processor
• Elaine McClure – Retail Administration Support Specialist
• Colleen Murphy – AT/Senior Credit Analyst
• Heley Patel – Financial Analyst
• Adam Regnery – FVP/Relationship Manager II
• Alexander Reilly – Staff Accountant II
• Rebecca Robotin-Lorie – VP/Sales Support Manager
• Kyle Smith – VP/Relationship Manager II
• Maria Tramo – VP/Retail Operations Manager NNJ/CNJ
• Melissa Trout – Senior Commercial Loan Administrator
• Jennifer Tykarsky – AVP/Operations Wire Manager
• Sharon Unger – VP/Deposit Operations Analyst II
• Leonardo Valarezo – Deposit Operations Analyst II
• Vanessa Van Gorden – AT/Human Resources Specialist
• Trinette Williams – Personal Banker Supervisor

How First Bank’s Team Makes All the Difference

Finding great people has been a big part of the community bank’s recipe for success, which has led to the kind of expansion that earned First Bank recognition from NJBIZ and the Philadelphia Business Journal as one of the region’s fast-growing businesses.

The fast-growing bank results from community-focused vision: Build a great bank that provides business owners and entrepreneurs with best-in-class services and access to capital.

This vision helped Ryan win EY’s Entrepreneur of the Year New Jersey Award in 2022.

How First Bank Keeps Growing, Building, and Reinvesting

First Bank’s tagline, “Personal Bankers. Real Relationships,” underscores its most significant market differential: its team. The bank has nearly 300 employees, all excelling at turning local banking into a personalized partnership. By prioritizing genuine connections over transactions, First Bank enhances the customer experience from a lending and deposit perspective.

First Bank also champions local decision-making. It empowers clients to interact directly with First Bank’s decision-makers, including the CEO, who plays a significant role in nurturing enduring business relationships that benefit the most important party: the client. The community bank also positions itself as a proactive solution-provider, prioritizing meaningful dialogue, keen listening and intelligent inquiries to offer the best solutions.

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 in several New Jersey and Pennsylvania countries and Palm Beach, Florida.

To learn more about First Bank, visit myfirstbank.com.

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About First Bank

First Bank is a New Jersey state-chartered bank with 26 full-service branches in Cinnaminson, Delanco, Denville, Ewing, Fairfield, Flemington (2), Hamilton, Lawrence, Monroe, Pennington, Randolph, Somerset, Williamstown and Morristown, New Jersey, Doylestown, Trevose, Warminster, West Chester, Paoli, Malvern, Coventry, Devon, Lionville, Glen Mills, Pennsylvania, and Palm Beach, Florida. With $3.61 billion in assets as of December 31, 2023, First Bank offers a traditional range of deposit and loan products to individuals and businesses, mainly 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.”