Last $6.50 USD
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As of 8:10 PM 10/20/14 All times are local (Market data is delayed by at least 15 minutes).

first resource bank (FRSB) Key Developments

First Resource Bank expected to report Q3 2014 results on October 21, 2014. This event was calculated by Capital IQ (Created on October 10, 2014).

First Resource Bank expected to report Q3 2014 results on October 21, 2014. This event was calculated by Capital IQ (Created on October 10, 2014).

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.

First Resource Bank Reports Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

First Resource Bank reported unaudited earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported net income of $300,610 or $0.18 per basic and diluted share as compared to $295,749 for the quarter ended March 31, 2014 and net income of $261,407 or $0.16 per basic and diluted share for the quarter ended June 30, 2013. After accounting for preferred stock dividends, net income available to common shareholders for the quarter ended June 30, 2014 was $287,903. This compares to net income available to common shareholders of $283,041 for the quarter ended March 31, 2014 and $248,700 for the quarter ended June 30, 2013. Total interest income was $1,844,785 compared to $1,719,316 reported a year ago. Net interest income was $1,505,419 compared to $1,370,837 reported a year ago. Pre-tax income was $436,959 compared to $382,400 reported a year ago. For the six months, the company reported net income of $596,359 compared to $501,111 reported a year ago. Total interest income was $3,650,910 compared to $3,388,183 reported a year ago. Net interest income was $2,964,069 compared to $2,691,589 reported a year ago. The improvement in net interest income was attributed to steady loan yields, low levels of excess cash and continued focus on lowering deposit costs. Pre-tax income was $868,493 compared to $731,017 reported a year ago.

First Resource Bank Reports Unaudited Earnings Results for the First Quarter Ended March 31, 2014

First Resource Bank reported unaudited earnings results for the first quarter ended March 31, 2014. For the quarter, the company's net interest income was $1,458,650 against $1,320,752 a year ago. Net interest income after provision for loan losses was $1,361,400 against $1,188,965 a year ago. Pre-tax income was $431,534 against $348,617 a year ago. Net income was $295,749 against $239,704 a year ago. Net income available to common shareholders was $283,041 or $0.18 basic and diluted per share against $226,997 or $0.15 basic and diluted per share a year ago.

First Resource Bank Declares Special Cash Dividend, Payable on April 25, 2014

First Resource Bank announced that the Board of Directors has declared a special cash dividend of three cents ($0.03) per share to shareholders of record as of April 11, 2014. The payment date for the dividend will be April 25, 2014.

 

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FRSB

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Valuation FRSB Industry Range
Price/Earnings 9.5x
Price/Sales 1.8x
Price/Book 0.8x
Price/Cash Flow 9.0x
TEV/Sales NM Not Meaningful

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