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FRSB First Resource Bank (Pennsylvania) News Story

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First Resource Bank Pennsylvania Q1 profit rises on loan growth

Overview

US community bank's Q1 net income rose 47% yr/yr to record $2.5 mln

Earnings per share for Q1 increased 46% yr/yr to $0.82

Net interest income grew 33% yr/yr, with net interest margin expanding to 3.80%

Outlook

Company did not provide specific guidance or outlook for future quarters or the full year

Result Drivers

LOAN GROWTH - Q1 results driven by 4% increase in total loans, led by commercial real estate and construction lending

NET INTEREST MARGIN - Net interest margin expanded to 3.80%, supporting higher net interest income

GAINS ON SBA LOANS - Non-interest income rose due to gains on sale of SBA loans

Company press release: ID:nPnS2g16a

Key Details

MetricBeat/MissActualConsensus Estimate
Q1 EPS$0.82
Q1 Net Income$2.50 mln
Q1 Net Interest Income$7.30 mln
Q1 Net Interest Margin3.80%
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@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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