FIRST RESOURCE BANCORP, INC. ANNOUNCES 2024 FIRST QUARTER RESULTS; CONTINUED BALANCE SHEET GROWTH OFFSETS MARGIN COMPRESSION [Yahoo! Finance]
FIRST RESOURCE BANCRP INC (FRSB)
NASDAQ:AMEX Investor Relations:
firstresourcebank.com/investor-relations
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Source: Yahoo! Finance
Lauren C. Ranalli , President and CEO, stated, "In a market where many of our peers are reducing lending, we've seized the chance to further expand the Bank. Our robust loan growth and disciplined pricing strategies have helped offset rising deposit costs to some extent. Net interest income remained largely steady compared to the previous quarter, despite the ongoing margin compression." Highlights for the first quarter of 2024 included: Total interest income grew 31% over the prior year Net interest income grew 7% over the prior year Total loans grew 4% during the first quarter, or 14% annualized Total deposits grew 3% during the first quarter, or 11% annualized Swap loan referral income totaled $182 thousand during the first quarter, more than double the entire prior year There were no non-accrual or non-performing loans as of March 31, 2024 Book value per share grew 3% to Net income for the quarter ended March 31, 2024 was $1.3 million , or per common share, comp
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News
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- FIRST RESOURCE BANCORP, INC. ANNOUNCES 2024 FIRST QUARTER RESULTS; CONTINUED BALANCE SHEET GROWTH OFFSETS MARGIN COMPRESSIONPR Newswire
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