What caused FUNC's Q3 earnings to fall short of forecasts?

First Bank's (FUNC) Q3 earnings fell short of forecasts due to several key factors: 1. **Earnings Shortfall**: The bank missed EPS by 5.3%, indicating that actual earnings were significantly lower than what analysts had anticipated. 2. **Revenue Shortfall**: Additionally, there was a notable decline in revenue, which fell short of industry expectations. This dual shortfall in both earnings and revenue highlights the bank's challenges in generating sufficient profitability. 3. **Analyst Revisions**: Analysts revised their earnings and revenue estimates downward, reflecting a broader industry concern. This suggests that the business may be facing headwinds that are impacting not only First Bank but also the broader banking sector. In summary, First Bank's Q3 earnings fell short due to a combination of lower-than-expected earnings and revenue, which was likely a result of business headwinds and challenges within the banking industry.