First Resource Bank Reports Un-Audited Earnings Results for the Fourth Quarter and Year Ended December 31, 2012
January 22, 2013 at 01:01 pm
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First Resource Bank reported un-audited earning results for the fourth quarter and year ended December 31, 2012. For the quarter, the company reported net income available to common shareholders of $221,458 or $0.14 per basic diluted share as compared to $168,740 or $0.12 per basic diluted share for the last year and net income available to common shareholders of $187,499 for the quarter ended September 30, 2012. Net interest income was $1,364,413 as compared to $1,354,661 for the previous quarter and $1,301,422 in last year. Total interest income was $1,725,675 compared to $1,717,661 and pre-tax income was $356,958 compared to $348,721 for the last year.
For the year, the company reported net income available to common shareholders of $750,187, an increase of 49% over the $502,526 in net income available to common shareholders recorded for the prior year. Total interest income was $6,623,333 compared to $6,452,329, net interest income was $5,326,357 compared to $4,989,114 and pre-tax income was $1,353,652 compared to $1,277,511 for the last year.
First Resource Bank (the Bank) is a locally owned and operated state-chartered bank. The Bank operates with three full-service branches, serving the banking needs of businesses, professionals and individuals in the Delaware Valley. It offers a full range of deposit and credit services with personalized service. The Bank is a full-service bank providing personal and business lending and deposit services. The Bank's business deposit products include Basic Business Checking, Non-Profit Checking, Business Money Market, Minute Escrow, IOLTA Checking, Public Funds Money Market, Certificate Deposit Account Registry Service (CDARS)/Insured Cash Sweep (ICS), and CD's. Its business lending products include Commercial Mortgage, Construction, Working Capital Credit Lines, Small Business Administration, Commercial Term Loans, and Credit Cards. Its personal deposit products include Checking, Checking with Interest, Diamond Club Checking, Personal Money Market, and Other Personal Services.
FIRST RESOURCE BANCORP, INC. 
