First Resource Bank Announces Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013
January 29, 2014 at 11:42 am EST
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First Resource Bank announced unaudited earnings results for the fourth quarter and full year ended December 31, 2013. For the quarter, the company announced total interest income of $1,790,106 compared to $1,725,675 for the same period a year ago. Net interest income was $1,426,007 compared to $1,364,413 for the same period a year ago. Pre-tax income was $428,734 compared to $356,958 for the same period a year ago. Net income was $291,181 compared to $234,255 for the same period a year ago. Net income available to common shareholders was $278,472 compared to $221,458 for the same period a year ago. Earnings per share, basic and diluted were $0.17 compared to $0.14 for the same period a year ago.
For the full year, the company announced total interest income of $6,932,699 compared to $6,859,270 for the same period a year ago. Net interest income was $5,509,706 compared to $5,326,357 for the same period a year ago. Pre-tax income was $1,544,808 compared to $1,353,652 for the same period a year ago. Net income was $1,055,658 compared to $917,557 for the same period a year ago. Net income available to common shareholders was $1,004,828 compared to $750,187 for the same period a year ago.
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.