The Kroll Bond rating Agency has affirmed the Bank’s credit ratings and stable outlook. The Bank’s favorable ratings and a stable outlook were maintained with a Deposit rating of BBB+, Senior Unsecured Debt rating of BBB+, Subordinated Debt rating of BBB, Short-Term Deposit rating of K2 and a Short-Term Debt rating of K2.
First Bank President and CEO Patrick Ryan stated: “We are very pleased with the results of the KBRA annual ratings review, which validates our strategic vision of growth and improving profitability while maintaining a safe and sound operating environment. We believe that our favorable credit ratings helped to facilitate our recent successful subordinated debt offering, will continue to provide us with additional capital markets flexibility and provide current and future customers additional comfort on our sound operating environment.”