Overview
First Resource Bank Q3 net income grew 39% yr/yr to $2.3 mln
Earnings per share rose 42% to $0.75 from the same quarter last year
Net interest margin expanded to 3.87% from 3.72% in the prior quarter
Outlook
Company anticipates continued growth due to regional bank merger opportunities
First Resource Bank expects sustained growth momentum and strong profitability
Result Drivers
NET INTEREST INCOME - Growth in net interest income driven by a 5% increase in loans and higher loan yields
ASSET GROWTH - Total assets expanded by $27.6 mln, fueled by strong loan and deposit growth
DEPOSIT GROWTH - Total deposits rose 5% during the qtr, driven by increases in all deposit categories
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 EPS
$0.75
Q3 Net Income
$2.30 mln
Q3 Net Interest Margin
3.87%
Press Release: ID:nPn5lKZ72a
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)