Jim Egan Joins First Resource Bank's Commercial Lending Team

Rhea-AI Summary

First Resource Bancorp (OTCQX: FRSB) has announced the appointment of Jim Egan as Senior Vice President of Commercial Lending. Egan brings 40 years of banking industry experience, including 38 years at Bryn Mawr Trust where he served as Chief Commercial Lending Officer and Head of Commercial Real Estate.

In his new role at First Resource Bank, Egan will focus on developing new business opportunities, particularly in loans, cash management, and deposit solutions. His appointment aligns with the bank's community-focused approach and expansion in the Wayne, PA market. As a Chester County resident with over 40 years of community involvement, including service on the American Red Cross Golf Committee and Ardmore Rotary, Egan plans to continue his community engagement to strengthen First Resource Bank's local presence.

Positive

• Appointment of seasoned executive with 40 years of banking experience
• Strategic expansion of commercial lending capabilities
• Enhanced presence in the Wayne, PA market

Negative

• None.

EXTON, Pa., Jan. 29, 2025 /PRNewswire/ -- First Resource Bancorp, Inc. (OTCQX: FRSB), the holding company for First Resource Bank, is proud to welcome Jim Egan as Senior Vice President of Commercial Lending. With an impressive career spanning 40 years in the banking industry—38 of which were spent at Bryn Mawr Trust, where he served as Chief Commercial Lending Officer and Head of Commercial Real Estate—Jim brings unparalleled expertise and a deep understanding of commercial lending to his new role.

His remarkable track record and dedication to building strong customer relationships have been hallmarks of his success. At First Resource Bank, he will focus on fostering new business opportunities, with an emphasis on loans, cash management, and deposit solutions.

"I am thrilled to join First Resource Bank, a true community bank that places customer satisfaction at its core," Jim shared. "The Bank's commitment to service reminds me of my time at Bryn Mawr Trust, where a similar dedication to community and client relationships existed. What truly set First Resource Bank apart for me is its exceptional team and strong inclusive culture. The Bank seamlessly combines the personal touch of a community bank with the competitive products and services of a larger one. Moreover, its presence in Wayne, PA—a market I've been proud to serve throughout my career—made this opportunity especially meaningful."

Lauren Ranalli, Co-Founder and CEO of First Resource Bank, expressed her enthusiasm about Jim's addition to the team: "We are delighted to welcome Jim Egan to First Resource Bank. His extensive experience, proven leadership, and passion for customer satisfaction align perfectly with our mission. We are confident he will have a positive impact on our clients, our community, and the Bank's continued success."

A longtime Chester County resident, Jim has been an active member of the local community for over 40 years. He has served on the American Red Cross Golf Committee for many years and was a proud member of the Ardmore Rotary. A dedicated community advocate, Jim plans to continue giving back through active involvement in local initiatives and organizations, further strengthening the ties between First Resource Bank and the communities it serves.

To connect with Jim Egan and learn more about how he can help you reach your financial goals email jegan@firstresoucebank.com.

About First Resource Bancorp, Inc.

First Resource Bancorp, Inc. is the holding company of First Resource Bank. First Resource Bank is a locally owned and operated Pennsylvania state-chartered bank with three full-service branches, serving the banking needs of businesses, professionals and individuals in the Delaware Valley. The Bank offers a full range of deposit and credit services with a high level of personalized service. First Resource Bank also offers a broad range of traditional financial services and products, competitively priced and delivered in a responsive manner to small businesses, professionals and residents in the local market. For additional information visit our website at www.firstresourcebank.com. Member FDIC.

This press release contains statements that are not historical facts and may pertain to future operating results or events or management's expectations regarding those results or events. These are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. These forward-looking statements may include, but are not limited to, statements about our plans, objectives, expectations and intentions and other statements contained in this press release that are not historical facts.  When used in this press release, the words "expects", "anticipates", "intends", "plans", "believes", "seeks", "estimates", or words of similar meaning, or future or conditional verbs, such as "will", "would", "should", "could", or "may" are generally intended to identify forward-looking statements. These forward-looking statements are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are either beyond our control or not reasonably capable of predicting at this time.  In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Actual results may differ materially from the results discussed in these forward-looking statements.  Readers of this press release are accordingly cautioned not to place undue reliance on forward-looking statements. First Resource Bank disclaims any intent or obligation to update publicly any of the forward-looking statements herein, whether in response to new information, future events or otherwise.      

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SOURCE First Resource Bank

FAQ

What experience does Jim Egan bring to First Resource Bank (FRSB)?

Jim Egan brings 40 years of banking industry experience, including 38 years at Bryn Mawr Trust as Chief Commercial Lending Officer and Head of Commercial Real Estate.

What will be Jim Egan's role at First Resource Bank (FRSB)?

Jim Egan will serve as Senior Vice President of Commercial Lending, focusing on developing new business opportunities in loans, cash management, and deposit solutions.

How will Jim Egan's appointment impact FRSB's market presence?

His appointment strengthens FRSB's presence in the Wayne, PA market and enhances the bank's commercial lending capabilities through his extensive experience and local market knowledge.

What community involvement experience does Jim Egan bring to FRSB?

Jim Egan has been active in the Chester County community for over 40 years, serving on the American Red Cross Golf Committee and as a member of the Ardmore Rotary.