Ranalli

FIRST RESOURCE BANCORP, INC. ANNOUNCES 2024 FIRST QUARTER RESULTS; CONTINUED BALANCE SHEET GROWTH OFFSETS MARGIN COMPRESSION

Retrieved on: 
Thursday, April 25, 2024
Risk management, Advertising, Total, Ranalli, Bank, FHLB, OTCQX, Growth, Swap, Video game

Annualized return on average assets was 0.92% for the first quarter of 2024 compared to 1.00% for the first quarter of 2023.

Key Points: 
  • Annualized return on average assets was 0.92% for the first quarter of 2024 compared to 1.00% for the first quarter of 2023.
  • Total interest expense increased 7% when comparing the first quarter of 2024 to the fourth quarter of 2023.
  • Non-interest expenses increased $210 thousand, or 7%, in the first quarter of 2024 compared to the prior quarter.
  • Non-interest expenses increased $424 thousand, or 15%, when comparing the first quarter of 2024 to the first quarter of 2023.

First Resource Bank Celebrates The Promotion of Lauren Ranalli to President & Chief Executive Officer And The Retirement of former CEO, Glenn Marshall

Retrieved on: 
Monday, April 1, 2024
Retirement, Ranalli, Bank, Growth, OTCQX, Management

The decision to promote Ranalli to President & CEO was first announced in September of 2023 following Glenn Marshall's announcement of his retirement, which is effective as of today.

Key Points: 
  • The decision to promote Ranalli to President & CEO was first announced in September of 2023 following Glenn Marshall's announcement of his retirement, which is effective as of today.
  • Having long served as the Bank's Chief Financial Officer and most recently as President, Ranalli's extensive background in banking and finance puts her in a position to steer First Resource Bank toward continued growth and success.
  • Reflecting on the transition, Ranalli expressed her gratitude for the opportunity to lead First Resource Bank into its next chapter.
  • "It's an honor to assume the role of President & CEO of First Resource Bank," said Ranalli.

FIRST RESOURCE BANCORP, INC. ANNOUNCES FIRST QUARTER RESULTS; DEPOSITS GREW 8% AND LOANS GREW 5% DURING FIRST QUARTER OF 2023

Retrieved on: 
Wednesday, April 26, 2023
Insurance, Advertising, Housing, FHLB, Federal, Small Business Administration, Ranalli, Paycheck Protection Program, Current Expected Credit Losses, FDIC, Sale, PPP, Federal Reserve, Investment, CECL, OTCQX, SBA, Small business, Growth, Bank, Cryptocurrency, Video game

Annualized return on average assets was 1.00% for the first quarter of 2023 compared to 1.16% for the first quarter of 2022.

Key Points: 
  • Annualized return on average assets was 1.00% for the first quarter of 2023 compared to 1.16% for the first quarter of 2022.
  • Total interest income increased $356 thousand, or 6%, from $6.0 million for the fourth quarter of 2022 to $6.4 million for the first quarter of 2023.
  • Total interest expense increased 274% from $546 thousand for the first quarter of 2022 to $2.0 million for the first quarter 2023.
  • The total cost of deposits increased from 1.09% during the fourth quarter of 2022 to 1.66% during the first quarter of 2023.

FIRST RESOURCE BANCORP, INC. ANNOUNCES TWELFTH CONSECUTIVE YEAR OF RECORD ANNUAL EARNINGS; NET INCOME GREW 35% OVER THE PRIOR YEAR

Retrieved on: 
Friday, January 27, 2023
Advertising, Sale, Small business, PPP, Bank, SBA, Small Business Administration, Federal Reserve, FHLB, Growth, Ranalli, Investment, Federal, Video game, Cryptocurrency, Real estate

For the year ended December 31, 2022, return on average assets was 1.17%, as compared to 0.92% for the prior year.

Key Points: 
  • For the year ended December 31, 2022, return on average assets was 1.17%, as compared to 0.92% for the prior year.
  • Total interest income increased $584 thousand, or 11%, from $5.4 million for the third quarter of 2022 to $6.0 million for the fourth quarter of 2022.
  • Total interest income increased $1.5 million, or 33%, from $4.5 million for the fourth quarter of 2021 to $6.0 million for the fourth quarter of 2022.
  • This increase was the result of 18% loan growth when comparing December 31, 2022 to a year prior.

FIRST RESOURCE BANCORP, INC. ANNOUNCES RECORD QUARTERLY RESULTS; THIRD QUARTER 2022 NET INCOME GREW 19% OVER THE PRIOR YEAR

Retrieved on: 
Friday, October 28, 2022
Federal, Growth, CEO, Ranalli, SBA, Environment, Small Business Administration, Income, CECL, PPP, Small business, Bank, Current Expected Credit Losses, Paycheck Protection Program, OTCQX, Sale, Federal Reserve, FHLB, Video game, Real estate

Total interest income increased $703 thousand, or 15%, from $4.7 million for the second quarter of 2022 to $5.4 million for the third quarter of 2022.

Key Points: 
  • Total interest income increased $703 thousand, or 15%, from $4.7 million for the second quarter of 2022 to $5.4 million for the third quarter of 2022.
  • Total interest income increased $771 thousand, or 16%, from $4.7 million for the third quarter of 2021 to $5.4 million for the third quarter of 2022.
  • Total interest expense increased 60% when comparing the third quarter of 2022 to the second quarter of 2022.
  • The net interest margin grew from 3.67% during the third quarter of 2021 to 3.79% in the third quarter of 2022.