First Resource Bank Reports Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015
October 29, 2015 at 12:00 pm
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First Resource Bank reported unaudited earnings results for the third quarter and nine months ended September 30, 2015. For the quarter, net income was $303,089 compared to $253,327 for the same period prior year. Net income available to common shareholders was $290,381 compared to $240,620 for the same period prior year. Net interest income was $1,679,581 compared to $1,541,575 for the same period prior year. Income before income tax expense was $442,922 compared to $366,805 for the same period prior year. Total interest income was $2,095,209 compared to $1,884,326 for the last year.
For the nine months ended, net income was $933,425 compared to $849,686 for the same period prior year. Net income available to common shareholders was $895,301 compared to $811,564 for the same period prior year. Net interest income was $4,962,233 compared to $4,505,644 for the same period prior year. Pre-tax income was $1,511,601 compared to $1,235,298 for the same period prior year. Total interest income was $6,114,529 compared to $5,535,236 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.