First Resource Bank Achieves Milestone; Over $1 Billion in Loans Made to the Local Community

Rhea-AI Summary

First Resource Bank (OTCQX: FRSB) has successfully financed over $1 billion in commercial and residential loans, marking a significant achievement since its inception in 2005. This milestone is supported by a focus on local businesses and customer satisfaction, contributing to the bank's record earnings for the 10th consecutive year. CEO Glenn Marshall emphasized the importance of their lending model in fostering community growth, especially during the pandemic. With three locations in Chester County, PA, First Resource Bank continues to provide crucial financial support to its local community.

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• Financed over $1 billion in loans to local businesses and families.
• Achieved record earnings for the 10th consecutive year.
• Enhanced economic growth in the community through job creation and business support.
• Recognized as the Best Bank in Chester County for four consecutive years.

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• None.

EXTON, Pa., April 8, 2021 /PRNewswire/ -- First Resource Bank (OTCQX: FRSB) proudly announced, that with the support and patronage of its loyal customers, they have financed over $1 billion in commercial and residential loans to businesses and families in the Delaware Valley.  Founded in 2005 by CEO, Glenn Marshall, and President and CFO, Lauren Ranalli, the Bank, a small business themselves, caters to the needs of local small businesses with an unwavering commitment to customer satisfaction.  This milestone comes on the heels of achieving record earnings for the 10^th year in a row.

Through their relationship based lending model, First Resource Bank, headquartered in Chester County, PA, has played a vital role in helping local small businesses finance their dreams and has been instrumental in aiding the growth of its community.  The substantial number of loans provided by the Bank represent a boost to the local economy in the form of additional resources for consumers and the creation of employment opportunities. Their dedication to the communities they serve is reflected not only in their willingness to help local businesses thrive, but also in their charitable contributions and participation in business and civic organizations.

"The significance of having lent over $1 billion dollars is evidenced by the number of successful businesses in our community who continue to thrive despite the adverse impacts of the pandemic," commented Marshall. "Over the past 16 years we have leveraged our competitive deposit and lending capabilities in an effort to make our community stronger.  I'm proud to say those efforts have paid off. Businesses were established, jobs were created and more importantly relationships were built. "

With three convenient locations in Exton, Wayne and West Chester, First Resource Bank, named Best Bank in Chester County for 4 consecutive years by the Daily Local News, remains focused on providing its customers and community with the financial solutions they need to succeed.

About First Resource Bank

About First Resource Bank First Resource Bank is a locally owned and operated Pennsylvania state-chartered bank, serving the banking needs of businesses, professionals and individuals in the Delaware Valley. The Bank offers a full range of deposit and credit services with a high level of personalized service. First Resource Bank also offers a broad range of traditional financial services and products, competitively priced and delivered in a responsive manner to small businesses, professionals and residents in the local market. For additional information visit our website at www.firstresourcebank.com. Member FDIC. Equal Housing Lender.

This press release contains statements that are not of historical facts and may pertain to future operating results or events or management's expectations regarding those results or events.  These are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934.  These forward-looking statements may include, but are not limited to, statements about our plans, objectives, expectations and intentions and other statements contained in this press release that are not historical facts.  When used in this press release, the words "expects", "anticipates", "intends", "plans", "believes", "seeks", "estimates", or words of similar meaning, or future or conditional verbs, such as "will", "would", "should", "could", or "may" are generally intended to identify forward-looking statements.  These forward-looking statements are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are either beyond our control or not reasonably capable of predicting at this time.  In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Actual results may differ materially from the results discussed in these forward-looking statements.  Readers of this press release are accordingly cautioned not to place undue reliance on forward-looking statements.  First Resource Bank disclaims any intent or obligation to update publicly any of the forward-looking statements herein, whether in response to new information, future events or otherwise.         

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SOURCE First Resource Bank

FAQ

What is the significance of First Resource Bank financing over $1 billion in loans?

First Resource Bank's financing of over $1 billion signifies its commitment to supporting local businesses and families, boosting the economy in the Delaware Valley.

When did First Resource Bank achieve this lending milestone?

First Resource Bank achieved the milestone of financing over $1 billion in loans on April 8, 2021.

How many years has First Resource Bank achieved record earnings?

First Resource Bank has achieved record earnings for the 10th consecutive year.

In which locations does First Resource Bank operate?

First Resource Bank operates in Exton, Wayne, and West Chester, Pennsylvania.

What is the stock symbol for First Resource Bank?

The stock symbol for First Resource Bank is FRSB.