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First Resource Bancorp's Remarkable Annual Results

Introduction
First Resource Bancorp, Inc., the parent company of First Resource Bank, has announced record-breaking financial achievements for the fiscal year ending December 31, 2025. Under the leadership of President and CEO Lauren C. Ranalli, the company reported an extraordinary increase in net income, along with significant growth in loans and deposits, marking a transformative year as they celebrate their 20th anniversary.

Key Financial Highlights

The financial results reveal a thriving bank with substantial growth metrics:

• - Net income surged by 54%, reaching approximately $8.2 million compared to $5.3 million the previous year.
• - Total loans expanded by 13%, totaling $678.5 million, supported by robust growth in commercial real estate and commercial construction segments.
• - Deposits saw an impressive rise of 31%, climbing to $725.3 million.
• - Additionally, noninterest-bearing deposits experienced a vigorous 39% increase, showcasing the bank's strong deposit base.
• - Over the year, total assets increased by 23%, and total interest income grew by 17%.

For further context, the return on average equity climbed to 14.99%, up from 10.91% in the prior year, while the return on average assets improved to 1.17%, up from 0.87%. These metrics underline the bank's efficiency in turning assets into profit.

Fourth Quarter Performance

In the fourth quarter of 2025 alone, First Resource Bancorp reported net income of $2.3 million, equivalent to $0.78 per share, marking an increase from $1.0 million, or $0.33 per share, in the same quarter of the prior year. The annualized return on average assets also showed upward movement, reaching 1.18% compared to 0.63% the previous year. Furthermore, the bank's net interest income for the quarter increased by 9%, closing at $7.12 million.

Growth Driven by Strategic Execution

Ranalli credited the significant results to strategic measures taken throughout the year, emphasizing that the bank's planned approach to increase on-balance sheet liquidity has immensely contributed to improving their position. This strategy helped lower the loan-to-deposit ratio from 108.4% to 93.5% by year-end, demonstrating a solid liquidity stance.

Credit and Non-Interest Income

The provision for credit losses was $369,000 in the fourth quarter, up from $189,000 in the prior quarter but down year-over-year from $1.1 million. Overall, the allowance for credit losses to total loans stood at 0.73%, exhibiting prudent management of credit risk.

Non-interest income totaled $1.4 million for the year, showcasing a growth trend compared to $1.3 million the previous year. This included gains from swap referral fees and sales of SBA loans that added further value to the bank's diversified income sources.

Non-Interest Expenses and Conclusion

However, the year wasn’t without challenges. Non-interest expenses rose by 27% compared to the previous year's fourth quarter, primarily due to increases in salaries, benefits, and operational costs. Yet, the sustained growth in various financial segments has enabled First Resource Bancorp to maintain a healthy efficiency ratio of 58.2%.

In summary, 2025 has proven to be an exemplary year for First Resource Bancorp, setting a strong foundation for the future. Their ability to grow income, deposits, and loans while recognizing the challenges and adapting accordingly highlights their commitment to excellence in serving their customers and the community. As First Resource Bank continues to evolve, it positions itself securely as a leader in local banking.

For further information and in-depth details about First Resource Bancorp and its services, please visit First Resource Bank’s official website.

Disclaimer: This article includes forward-looking statements regarding future performance, which is subject to various risks and uncertainties.