OTCPK:FRSB

Stock Analysis Report

Executive Summary

First Resource Bank provides personal and business banking products and services primarily in the southeastern area of Pennsylvania.

Snowflake

Fundamentals

Flawless balance sheet and slightly overvalued.

Risks

  • First Resource Bank is not covered by any analysts.

Similar Companies

Share Price & News

How has First Resource Bank's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-0.2%

OTCPK:FRSB

-1.8%

US Banks

-1.6%

US Market


1 Year Return

-10.9%

OTCPK:FRSB

-16.1%

US Banks

-3.0%

US Market

FRSB outperformed the Banks industry which returned -16.1% over the past year.

FRSB underperformed the Market in United States of America which returned -3% over the past year.


Share holder returns

FRSBIndustryMarket
7 Day-0.2%-1.8%-1.6%
30 Day-4.0%-10.1%-5.7%
90 Day-5.5%-5.0%0.2%
1 Year-10.9%-10.9%-13.7%-16.1%-0.8%-3.0%
3 Year47.8%47.8%37.9%28.5%38.1%29.1%
5 Year69.9%68.9%49.3%33.2%50.8%34.1%

Price Volatility Vs. Market

How volatile is First Resource Bank's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is First Resource Bank undervalued based on future cash flows and its price relative to the stock market?

12.82x

Price to Earnings (PE) ratio


Intrinsic Value Based on Future Cash Flows

First Resource Bank's share price is above the future cash flow value, it's not available at a moderate discount (< 20%).

First Resource Bank's share price is above the future cash flow value, it's not available at a substantial discount (< 40%).


Price Based on Earnings

First Resource Bank is overvalued based on earnings compared to the US Banks industry average.

First Resource Bank is good value based on earnings compared to the United States of America market.


Price Based on Expected Growth

Unable to calculate PEG ratio for First Resource Bank, we can't assess if its growth is good value.


Price Based on Value of Assets

First Resource Bank is good value based on assets compared to the US Banks industry average.


Next Steps

Future Growth

How is First Resource Bank expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

10.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Unable to determine if First Resource Bank is high growth as no revenue estimate data is available.

First Resource Bank's earnings are expected to grow by 10.9% yearly, however this is not considered high growth (20% yearly).

Unable to compare First Resource Bank's revenue growth to the United States of America market average as no estimate data is available.

First Resource Bank's earnings growth is positive but not above the United States of America market average.

First Resource Bank's earnings growth is expected to exceed the low risk savings rate of 2.7%.


Earnings per Share Growth Estimates


Future Return on Equity

Unable to establish if First Resource Bank will efficiently use shareholders’ funds in the future without estimates of Return on Equity.


Next Steps

Past Performance

How has First Resource Bank performed over the past 5 years?

16.1%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

First Resource Bank's year on year earnings growth rate has been positive over the past 5 years.

First Resource Bank's 1-year earnings growth exceeds its 5-year average (16.6% vs 16.1%)

First Resource Bank's earnings growth has not exceeded the US Banks industry average in the past year (16.6% vs 33.1%).


Return on Equity

First Resource Bank has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

First Resource Bank used its assets less efficiently than the US Banks industry average last year based on Return on Assets.


Return on Capital Employed

Unable to establish if First Resource Bank improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.


Next Steps

Financial Health

How is First Resource Bank's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Information is not available.

Information is not available.


Financial Institutions Analysis

First Resource Bank has an acceptable proportion of non-loan assets held.

First Resource Bank has a sufficient allowance for bad loans.

First Resource Bank's liabilities are made up of primarily low risk sources of funding.

First Resource Bank's level of assets compared to its equity is moderate (i.e. an appropriate level of borrowing to fund lending).

Loans at First Resource Bank are broadly funded by customer deposits.

First Resource Bank has an acceptable level of bad loans (less than 2%).


Next Steps

Dividend

What is First Resource Bank's current dividend yield, its reliability and sustainability?


Dividend Yield and Payments Analysis

Unable to evaluate First Resource Bank's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.

Unable to evaluate First Resource Bank's dividend against the top 25% market benchmark as the company has not reported any payouts.

Unable to perform a dividend volatility check as First Resource Bank has not reported any payouts.

Unable to verify if First Resource Bank's dividend has been increasing as the company has not reported any payouts.


Current Payout to Shareholders

Unable to calculate sustainability of dividends as First Resource Bank has not reported any payouts.


Future Payout to Shareholders

Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.


Next Steps

Management

What is the CEO of First Resource Bank's salary, the management and board of directors tenure and is there insider trading?

1.6yrs

Average management tenure


CEO

Glenn Marshall (60yo)

14.3yrs

Tenure

US$229,327

Compensation

Mr. Glenn B. Marshall serves as the Chief Executive Officer and President of First Resource Bank, Exton, PA. Mr. Marshall has more than 25 years of banking experience. He served as Executive Vice President ...


CEO Compensation Analysis

Insufficient data for Glenn to establish whether their remuneration is reasonable compared to companies of similar size in United States of America.

Glenn's compensation has been consistent with company performance over the past year, both up more than 20%.


Management Age and Tenure

1.6yrs

Average Tenure

60yo

Average Age

The average tenure for the First Resource Bank management team is less than 2 years, this suggests a new team.


Board Age and Tenure

14.6yrs

Average Tenure

60.5yo

Average Age

The average tenure for the First Resource Bank board of directors is over 10 years, this suggests they are a seasoned and experienced board.


Insider Trading

No 3 month open market individual insider trading information.


Management Team

  • Ken Kramer (63yo)

    Senior VP & Chief Credit Officer

    • Tenure: 0.6yrs
  • Glenn Marshall (60yo)

    President

    • Tenure: 14.3yrs
    • Compensation: US$229.33k
  • Lauren Ranalli (43yo)

    Executive VP

    • Tenure: 14.3yrs
    • Compensation: US$195.00k
  • Natalie Carrozza

    Executive VP & COO

    • Tenure: 0.0yrs
  • Robin DiMattei

    Senior VP of Cash Management & E-Products Manager

    • Tenure: 1.6yrs
  • Scott McKeon

    Senior Vice President of Commercial Lending Department

    • Tenure: 0.0yrs
  • Brian Jackson

    Senior VP & Chief Technology Officer

    • Tenure: 0.0yrs
  • John Durso

    Senior VP & Chief Retail Banking Officer

    • Tenure: 0.0yrs
  • Dean Wesley

    Senior Vice President of Commercial Lending

    • Tenure: 0.6yrs

Board Members

  • Jim Griffin (63yo)

    Chairman of the Board

    • Tenure: 12.7yrs
  • Robert Rigg (66yo)

    Director

    • Tenure: 7.3yrs
  • Glenn Marshall (60yo)

    President

    • Tenure: 14.3yrs
    • Compensation: US$229.33k
  • Christopher Knauer (60yo)

    Director

    • Tenure: 14.6yrs
  • John O'Connell (71yo)

    Director

    • Tenure: 14.6yrs
  • Richard Orlow (61yo)

    Director

    • Tenure: 14.6yrs
  • Joseph DiSciullo (62yo)

    Director

    • Tenure: 14.6yrs
  • Lauren Ranalli (43yo)

    Executive VP

    • Tenure: 14.3yrs
    • Compensation: US$195.00k
  • James Griffin (53yo)

    Chairman

    • Tenure: 0.0yrs
  • Philip Reilly (59yo)

    Director

    • Tenure: 14.6yrs

Company Information

First Resource Bank's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: First Resource Bank
  • Ticker: FRSB
  • Exchange: OTCPK
  • Founded: 2005
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$26.238m
  • Shares outstanding: 2.76m
  • Website: https://www.firstresourcebank.com

Location

  • First Resource Bank
  • 1 East Uwchlan Avenue
  • Suite 410
  • Exton
  • Pennsylvania
  • 19341
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FRSBOTCPK (Pink Sheets LLC)YesCommon StockUSUSDApr 2005

Biography

First Resource Bank provides personal and business banking products and services primarily in the southeastern area of Pennsylvania. The company accepts checking, money market, escrow, and CD/IRA accounts, ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/08/25 00:01
End of Day Share Price2019/08/23 00:00
Earnings2019/03/31
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.