The bank reported a 29-basis-point net interest margin expansion and improved efficiency ratio for the quarter.
First Resource Bank posted Q2 GAAP earnings per share of $0.92 on revenue of $8.53M, reflecting growth in key profitability metrics. Net interest margin widened by 29 basis points to 4.09%, while the efficiency ratio also improved from the prior period.
Annualized return on average equity reached 17.82%, and return on average assets stood at 1.36%. The results follow a period of margin pressure and operational adjustments across regional banks.
No immediate market reaction was disclosed in the release.