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.
First Resource Bank (OTCQX: FRSB) reported a 41% increase in net income for the first quarter of 2021, reaching $905,664. The bank saw a 7% growth in total interest income year-over-year and a significant 35% decline in total interest expense. Total loans rose by 12%, supported by $23.3 million in new PPP loans. Deposits grew 7%, driven by an 11% increase in checking deposits. Despite a decrease in net interest margin to 3.59%, the bank maintains strong loan growth and credit quality. Total assets increased to $444 million, reflecting overall positive financial momentum.
The First Resource Bank (OTCQX: FRSB) has announced a 5% common stock dividend for shareholders of record on May 6, 2021, payable on May 20, 2021. This marks the eighth such dividend in the bank's history, emphasizing its commitment to enhancing shareholder value. CEO Glenn B. Marshall expressed gratitude for the ongoing support from shareholders. First Resource Bank, based in Pennsylvania, offers a range of personalized financial services to businesses and individuals in the Delaware Valley.
First Resource Bank (OTCQX: FRSB) has successfully financed over $1 billion in commercial and residential loans, marking a significant achievement since its inception in 2005. This milestone is supported by a focus on local businesses and customer satisfaction, contributing to the bank's record earnings for the 10th consecutive year. CEO Glenn Marshall emphasized the importance of their lending model in fostering community growth, especially during the pandemic. With three locations in Chester County, PA, First Resource Bank continues to provide crucial financial support to its local community.
First Resource Bank (OTCQX: FRSB) will present live at VirtualInvestorConferences.com on March 11, 2021, at 11:30 AM ET. The presentation will be led by Glenn Marshall, CEO, and Lauren Ranalli, President & CFO. Investors can join the interactive session to engage with the company directly. Highlights from 2020 include a 40% increase in net income, a 26% rise in total assets, and a 97% growth in non-interest bearing deposits. Pre-registration is recommended for optimal participation.
First Resource Bank (OTCQX: FRSB) has successfully completed a $6 million private placement of subordinated notes to enhance regulatory capital ratios and retire existing debt. The notes, maturing on September 15, 2030, carry a fixed interest rate of 6.00% and are callable after September 15, 2025. This offering reflects investor confidence and aims to support the bank's strategic growth initiatives.