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FRSB First Resource Bank (Pennsylvania) News Story

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First Resource Bank's Q3 net income rises 39% on deposit growth

Overview

First Resource Bank Q3 net income grew 39% yr/yr to $2.3 mln

Earnings per share rose 42% to $0.75 from the same quarter last year

Net interest margin expanded to 3.87% from 3.72% in the prior quarter

Outlook

Company anticipates continued growth due to regional bank merger opportunities

First Resource Bank expects sustained growth momentum and strong profitability

Result Drivers

NET INTEREST INCOME - Growth in net interest income driven by a 5% increase in loans and higher loan yields

ASSET GROWTH - Total assets expanded by $27.6 mln, fueled by strong loan and deposit growth

DEPOSIT GROWTH - Total deposits rose 5% during the qtr, driven by increases in all deposit categories

Key Details

MetricBeat/MissActualConsensus Estimate
Q3 EPS$0.75
Q3 Net Income$2.30 mln
Q3 Net Interest Margin3.87%
Press Release: ID:nPn5lKZ72a For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com. (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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