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Last $6.80 USD
Change Today 0.00 / 0.00%
Volume 0.0
FRSB On Other Exchanges
Symbol
Exchange
OTC US
As of 8:10 PM 04/16/15 All times are local (Market data is delayed by at least 15 minutes).

first resource bank (FRSB) Key Developments

First Resource Bank Declares Special Cash Dividend, Payable on May 22, 2015

First Resource Bank announced that the board of directors has declared a special cash dividend of $0.04 per share to shareholders of record as of May 8, 2015. The payment date for the dividend will be May 22, 2015.

First Resource Bank Announces Unaudited Earnings Results for the Fourth Quarter and Year Ended December 31, 2014

First Resource Bank announced unaudited earnings results for the fourth quarter and year ended December 31, 2014. For the quarter, the company's total interest income was $2.0 million compared with $1.8 million a year ago. Net interest income was $1.6 million compared with $1.4 million a year ago. Income before income tax expense was $0.38 million compared with $0.43 million a year ago. Net income was $0.26 million compared with $0.29 million a year ago. Net income available to common shareholders was $0.24 million or $0.15 per basic and diluted share compared with $0.28 million or $0.17 per basic and diluted share a year ago. For the year, the company's total interest income was $7.5 million compared with $6.9 million a year ago. Net interest income was $6.2 million compared with $5.5 million a year ago. This improvement was attributed to strong loan growth, steady loan yields and low levels of excess cash. Income before income tax expense was $1.6 million compared with $1.5 million a year ago. Net income was $1.1 million compared with $1.06 million a year ago. Net income available to common shareholders was $1.1 million compared with $1.0 million a year ago.

First Resource Bank Promotes of Lisa Donnon to Chief Lending Officer and Executive Vice President

First Resource Bank announced the promotion of Lisa Donnon to Chief Lending Officer and Executive Vice President. Ms. Donnon has been working for First Resource Bank for 8 years and brings over 25 years in banking and financial services to her new role with the Bank. Ms. Donnon will manage all loan origination and servicing activities.

First Resource Bank Reports Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014

First Resource Bank reported unaudited earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported total interest income of $1,884,326 compared to $1,754,410 a year ago. Net interest income was $1,541,575 compared to $1,392,110 a year ago. Pre-tax income was $366,805 compared to $385,057 a year ago. Net income available to common shareholders was $240,620 compared to $250,659 a year ago. Earnings per share basic and diluted were $0.15 compared to $0.16 a year ago. For the nine months period, the company reported total interest income of $5,535,236 compared to $5,142,593 a year ago. Net interest income was $4,505,644 compared to $4,083,699 a year ago. Pre-tax income was $1,235,298 compared to $1,116,074 a year ago. Net income available to common shareholders was $811,564 compared to $726,356 a year ago.

First Resource Bank Announces Relocation of its Exton Branch

First Resource Bank announced the relocation of its Exton Branch. At 3,500 square feet, this branch is more than triple the size of the previous Exton branch. The building includes two drive-up teller windows, a drive-up ATM and a drive-up night drop box. Located at 800 N. Pottstown Pike, and close in proximity to the previous branch, the new location provides greater accessibility from Rt. 100 and is conveniently located next to the Exton Super Wawa. The opening of the new First Resource Bank Exton branch coincides with the Bank beginning the site work on a new branch in West Chester, with an expected opening of February 2015. The expansion represents positive progress in the implementation of First Resource Bank's strategic plan for growth in the Chester County area.

 

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FRSB

Industry Average

Valuation FRSB Industry Range
Price/Earnings 10.4x
Price/Sales 1.8x
Price/Book 0.8x
Price/Cash Flow 9.9x
TEV/Sales NM Not Meaningful

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