EXTON, PA — First Resource Bancorp, Inc. (OTCQX: FRSB) recently reported first-quarter 2026 net income of $2.5 million, up 47% from a year earlier, driven by loan growth and a higher net interest margin.
Earnings per common share increased to $0.82 from $0.56 in the first quarter of 2025, while annualized return on average equity rose to 16.64% from 13.31%.
Net interest income increased 33% year over year to $7.3 million, and net interest margin expanded to 3.80% from 3.60% in the prior-year quarter.
Total loans increased $26.8 million, or 4%, during the quarter to $705.3 million, led by growth in commercial real estate and commercial construction lending.
Total deposits declined $7.3 million, or 1%, during the quarter as the bank reduced non-core deposits, though customer deposits increased by a net $7.5 million, according to the company.
Non-performing assets increased to $3.0 million, or 0.37% of total assets, from $731,000, or 0.09% of total assets, at the end of 2025.
“One of the Company’s two non-accrual loan relationships is fully secured by real estate collateral, while the second required a specific reserve of $62 thousand during the first quarter,” President and Chief Executive Officer Lauren Ranalli said.
The provision for credit losses rose to $377,000 from $174,000 a year earlier.
Non-interest income increased 56% year over year to $544,000, aided by gains on sales of Small Business Administration loans.
The company paid its first quarterly dividend of $0.02 per common share during the quarter.
Book value per share increased 4% to $20.30, while total stockholders’ equity rose to $61.0 million from $58.8 million at the end of 2025.
First Resource Bancorp is the holding company for First Resource Bank, which operates three full-service branches in the Delaware Valley.
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