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First Resource Bancorp Inc - FRSB STOCK NEWS

Welcome to our dedicated news page for First Resource Bancorp (Ticker: FRSB), a resource for investors and traders seeking the latest updates and insights on First Resource Bancorp.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect First Resource Bancorp's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of First Resource Bancorp's position in the market.

News
FIRST RESOURCE BANCORP, INC. ANNOUNCES 2024 FIRST QUARTER RESULTS; CONTINUED BALANCE SHEET GROWTH OFFSETS MARGIN COMPRESSION
Rhea-AI Summary
First Resource Bancorp, Inc. announced its financial results for the first quarter of 2024, showcasing growth in total interest income, net interest income, and total loans. Despite challenges with rising deposit costs and margin compression, the company reported positive metrics such as no non-accrual loans, a 3% increase in book value per share, and net income of $1.3 million. The provision for credit losses decreased, and non-interest income saw a notable increase. Total deposits and the loan portfolio also experienced growth, albeit with some fluctuations in different deposit categories. Overall, the company's financial performance remained resilient in a challenging market environment.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.25%
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earnings
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News
First Resource Bank Celebrates The Promotion of Lauren Ranalli to President & Chief Executive Officer And The Retirement of former CEO, Glenn Marshall
Rhea-AI Summary
First Resource Bancorp, Inc. (OTCQX: FRSB) appoints Lauren Ranalli as the new President & CEO, succeeding Glenn Marshall after 19 years. Ranalli, a co-founder of the Bank, brings extensive banking and finance experience to lead the company towards growth and success.
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First Resource Bank Announces Lending Department Leadership Changes
Rhea-AI Summary
First Resource Bancorp, Inc. (FRSB) announces the promotion of Lee Herzer to Executive Vice President & Chief Lending Officer, effective April 1, 2024. Herzer brings 20 years of banking experience and will lead strategic initiatives to drive growth. Lisa Donnon will become the Chief Credit Officer, succeeding Ken Kramer, who will retire after 46 years in the industry.
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management
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FIRST RESOURCE BANK Welcomes Jennifer MacMullen as Executive Vice President and Chief Retail Banking Officer
Rhea-AI Summary
First Resource Bancorp, Inc. appoints Jennifer MacMullen as the Executive Vice President and Chief Retail Banking Officer, bringing over 30 years of experience to enhance customer engagement and drive growth initiatives.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.74%
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FIRST RESOURCE BANCORP, INC. ANNOUNCES THIRTEENTH CONSECUTIVE YEAR OF RECORD ANNUAL EARNINGS; NET INCOME GREW 5% OVER THE PRIOR YEAR
Rhea-AI Summary
First Resource Bancorp, Inc. (FRSB) announced financial results for the year ended December 31, 2023. The company saw a 5% growth in net income, with total loans and deposits growing by 16%. Total assets exceeded $600 million, and total interest income grew by 42%. The year also saw a 15% increase in book value per share, with earnings per share improving by 5%. The company completed a 5% stock dividend in June 2023, and there were no non-accrual or non-performing loans as of December 31, 2023.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
8.26%
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earnings
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News
FIRST RESOURCE BANK Appoints Kristen Fries as Executive Vice President and Chief Financial Officer
Rhea-AI Summary
First Resource Bancorp, Inc. (OTCQX: FRSB) announces the promotion of Kristen Fries to Executive Vice President and Chief Financial Officer. Fries, with nine years of experience at First Resource Bank, brings a wealth of finance and community banking expertise to her new role. Her appointment reflects the company's commitment to internal talent development and growth. With a bachelor's degree in accounting from Pennsylvania State University and 20 years of experience in community banking, Fries is well-equipped for the position of CFO.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.71%
Tags
management
News
FIRST RESOURCE BANCORP, INC. ANNOUNCES THIRD QUARTER RESULTS; LOANS AND DEPOSITS GREW 13% YEAR TO DATE
Rhea-AI Summary
First Resource Bancorp, Inc. announced financial results for Q3 2023. Net income was $1.6 million, exceeding the previous quarter by 8%. Total interest income grew 43% YoY, while net interest income grew 5% YoY. Total loans and deposits grew 3% and 2% respectively during the quarter. Total assets grew by $15.8 million, or 3%. Nonperforming assets to total assets decreased to 0.13% in Q3 2023.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.09%
Tags
earnings
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FIRST RESOURCE BANCORP, INC. Announces Retirement of CEO, Glenn Marshall; President & CFO, Lauren Ranalli Named Successor
Rhea-AI Summary
Glenn Marshall, CEO and co-founder of First Resource Bank, will retire in April 2024. Under his leadership, the bank grew to $565 million in assets. Lauren Ranalli, current President and CFO, will become the new CEO. The transition aims to ensure the bank's continued strength and stability.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.42%
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FIRST RESOURCE BANCORP, INC. ANNOUNCES SECOND QUARTER RESULTS; NET INTEREST MARGIN EXPANDS, LOANS GREW 21% AND DEPOSITS GREW 14% OVER THE PAST 12 MONTHS
Rhea-AI Summary
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
4.98%
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earnings
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FIRST RESOURCE BANCORP, INC. Recognized as One of the Top Performing Bank Holding Companies Under $2 Billion in the US by American Banker
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First Resource Bancorp Inc

OTC:FRSB

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FRSB Stock Data

40.83M
1.93M
Commercial Banking
Finance and Insurance
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US
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