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FIRST PRIORITY FINANCIAL CORP.

No Longer Reporting

The company has not filed an annual or quarterly report since its Q1 FY2018 10-Q, filed May 11, 2018. Its latest SEC filing is a 15-15D from Aug 1, 2018.

The sections below describe the company as of the FY2017 annual report.

What Did They Do?

Provides commercial and consumer banking, including loans, deposits and wealth management, to residents and businesses in the Delaware Valley.

How Did They Make Money?

Most income comes from interest on loans and investments; additional income comes from fees and charges to banking customers, wealth-management services, and gains on asset sales.

FY2017 revenue

Who Were Their Customers?

Residents and businesses in the Delaware Valley use its banking offices for commercial and consumer banking, deposits, and private banking. Wealth-management services are provided through third-party providers and investment advisers.

Did Revenues Turn Into Profits?

Yes. It kept 10 cents of every revenue dollar as net income in FY2017.

Net income, FY2017
10% of revenue
▲ +7% vs FY2016 ($2.3M, 11%)

How Were They Changing?

Since the FY2017 annual report
Latest quarter: Q1 FY2018, the three months to Mar 31, 2018
Revenue
▲ +11%
vs $5.7M in Q1 FY2017
Net income
▼ −3%
vs $782K in Q1 FY2017
  • Jul 19, 2018 Shareholder lawsuit seeks to block the proposed merger The complaint alleges proxy-statement omissions and inadequate merger consideration and seeks to enjoin the merger or obtain other relief.

Grew. Revenue grew 36% in 4 years, from $17.6M in FY2013 to $24.1M in FY2017, about 8% a year.

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