Welcome to our dedicated page for First Reliance Bancshares news (Ticker: FSRL), a resource for investors and traders seeking the latest updates and insights on First Reliance Bancshares stock.
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 Reliance Bancshares'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 Reliance Bancshares's position in the market.
First Reliance Bancshares reported Q2 2021 net income of $1.3 million, down from $3.9 million in Q2 2020, leading to a diluted EPS of $0.17. Net interest income increased to $6.2 million, up 11.1% from the prior quarter. Loans (excluding PPP) rose by 11.2%, totaling $526.4 million, while deposits climbed 7.6% to $711.5 million. Asset quality remained high, with nonperforming assets steady at 0.17%. Administrative expenses rose 19.6%, influenced by higher compensation costs, including $0.4 million in severance payments.
First Reliance Bancshares (OTC:FSRL) reported a strong first quarter in 2021, achieving $1.7 million in net income, up 99.1% year-over-year, translating to $0.21 per diluted share. Total deposits rose 11.3% to $661.2 million, bolstered by significant growth in non-interest accounts. Mortgage banking income soared 344.9% to $3.4 million. The company's asset quality remained robust, with non-performing assets decreasing to 0.17% of total assets. However, net interest income fell 3.7% to $5.6 million, reflecting reduced yields on interest-earning assets.