Welcome to our dedicated page for First Res Bank news (Ticker: FRSB), a resource for investors and traders seeking the latest updates and insights on First Res Bank stock.
First Resource Bancorp, Inc. (OTCQX: FRSB) is the holding company for First Resource Bank, a Pennsylvania state‑chartered community bank serving businesses, professionals and individuals in the Delaware Valley. The company’s news flow centers on its commercial banking activities, financial performance and capital management decisions.
On this page, readers can review press releases and third‑party coverage related to FRSB. Recent company announcements have focused on quarterly and annual financial results, highlighting trends in net income, net interest margin, loan and deposit growth, and credit quality. These releases provide detail on the composition of the loan portfolio across commercial real estate, commercial construction, commercial business and consumer loans, as well as changes in deposit mix and the proportion of insured or collateralized deposits.
News items also cover capital and corporate actions, such as subordinated debt offerings structured to qualify as Tier 2 capital, stock repurchase program authorizations and activity under those programs. Governance and leadership updates, including the appointment of new directors and senior commercial lending executives, are another recurring theme in the company’s communications.
In addition, First Resource Bancorp, Inc. regularly reports external recognitions, such as workplace awards and rankings among community banks, along with commentary on its community banking mission and local market conditions. Investors and observers who follow FRSB news can use this page to monitor the bank’s reported performance, balance sheet trends, credit metrics and strategic initiatives over time. For ongoing research on this commercial banking stock, consider returning to this news feed to see newly released earnings updates, capital announcements and organizational developments.
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First Resource Bancorp, Inc. (OTCQX: FRSB) reported its financial results for Q1 2023, showing substantial growth amidst economic challenges. Key figures include:
- Total interest income increased 41% year-over-year, reaching $6.4 million.
- Net interest income stood at $4.3 million, down 6% sequentially.
- Total deposits grew by 8% to $466.2 million.
- Total loans increased 5%, amounting to $483.1 million.
- Net income was $1.3 million, or $0.43 per share.
- Book value per share rose to $14.10.
Despite the increases, net interest margin compressed to 3.57%, and total interest expense jumped significantly due to rising rates.
First Resource Bancorp, Inc. (OTCQX: FRSB) reported strong financial results for the year ended December 31, 2022, achieving a 35% increase in net income to $5.6 million, or $1.92 per share. Total assets exceeded $500 million, with total loans and deposits growing by 18% and 8% respectively. The return on equity reached 14.91%, marking a significant improvement. Total interest income rose 14% to $20.7 million, and net interest margin expanded to 3.74%. The bank navigated rising deposit costs while managing an efficiency ratio of 58%, showcasing effective management amidst industry challenges.
First Resource Bank (OTCQX: FRSB) announces the promotion of three key executives to enhance leadership and customer satisfaction. Natalie Carrozza becomes Executive Vice President and Chief Risk Officer, while Bridget Moran steps up as Chief Operating Officer. Brian Jackson is appointed Executive Vice President and Chief Information Security Officer. This leadership expansion follows a year of record growth, reflecting increased loan volume and customer acquisition. The Bank aims to strengthen its commitment to customer service and operational efficiency.
First Resource Bancorp, Inc. (FRSB) reported strong financial results for Q2 2022, achieving a net income of $1.4 million, up 31% from the prior year. The bank successfully replaced Paycheck Protection Program (PPP) loan income with organic loan income, resulting in a 5% increase in total interest income. The company also formed a holding company, enhancing capital options. Key metrics include a return on average assets of 1.19% and a return on average equity of 15.03%. Total deposits increased by 1%, and the provision for loan losses decreased significantly, reflecting improved credit quality.