First Resource Bancorp Reports Strong Third Quarter Performance with 39% Growth in Net Income

First Resource Bancorp's Stellar Q3 2025 Performance

First Resource Bancorp, Inc. (OTCQX: FRSB), the parent company of First Resource Bank, has announced impressive financial results for the third quarter of 2025. The company reported a significant net income of $2.3 million, marking a remarkable 39% increase compared to the same period last year. This financial growth reflects not only a strong commitment to customer service but also robust operational strategies that have continued to yield successful outcomes for the bank and its shareholders.

Key Financial Highlights

In addition to the growth in net income, the bank noted a 19% increase from the previous quarter, showcasing a consistent upward trajectory in profitability. The net interest margin has also expanded, climbing to 3.87%, an increase of 15 basis points from the previous quarter. This growth is part of an ongoing trend, where the net interest margin has steadily improved throughout the year, from 3.60% in the first quarter to 3.72% in the second.

Total interest income for Q3 2025 reached an impressive $11 million, reflecting a notable 16% increase from $9.5 million in Q3 2024. Growth in net interest income was particularly strong, with a 27% increase year-over-year, underscoring the bank's effective lending strategies and improved loan yields.

Furthermore, the bank also reported a 5% increase in total loans during the quarter, resulting in a balance of $655.3 million. This loan growth, particularly within commercial real estate and commercial business sectors, has contributed significantly to the overall asset growth, surpassing the $700 million mark with total assets reaching $724.9 million at the quarter's end.

Operational Excellence and Commitment to Communities

Lauren C. Ranalli, President and CEO of First Resource Bancorp, expressed pride in the bank's record performance, emphasizing its commitment to providing exceptional service and fostering a successful workplace culture. The outstanding results are not solely driven by financial metrics; they also reflect the bank's dedication to community support and engagement, which is increasingly recognized and valued by customers and shareholders alike.

The increase in deposits also mirrors this financial health, with total deposits rising by 5% from $599.7 million to $630.8 million in the last quarter, demonstrating the institution's strong reputation and reliability in the local banking sector. Moreover, this rise in deposits aligns with the bank's strategy to strengthen its asset base and enhance profitability.

Forward-Looking Strategies

Looking ahead, Ranalli highlighted the bank's strategic positioning amidst the evolving banking landscape. With anticipated growth focused on expanding business development opportunities, especially in light of increased mergers in the region, First Resource Bancorp is strategically poised to leverage these trends for continued success.

As the bank diversifies its financial offerings and seeks to capitalize on new opportunities, the emphasis will remain on community engagement and enhancing value for shareholders. First Resource Bancorp's Q3 2025 results reflect not just financial success but a broader mission towards building lasting relationships with clients and contributing positively to the communities it serves.

In summary, First Resource Bancorp stands as a testimony to resilience and growth in the banking sector, showcasing a blend of financial acumen and commitment to service excellence that continues to drive its success story forward.