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First Resource Bank
(OTC:FRSB)
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Rating:78Outperform
Price Target:
$29.00
▲(12.58% Upside)
Action:Reiterated
Date:08/06/26
Overall score is driven primarily by attractive valuation (low P/E and very high dividend yield) and supportive technical momentum (price above key moving averages with positive MACD). Financial performance is solid with improved leverage and healthy ROE, but revenue volatility and inconsistent 2025 cash-flow coverage data reduce confidence slightly.
Positive Factors
Improving leverage
A sustained decline in debt-to-equity to ~0.45 reduces financial risk and increases capital flexibility. Lower leverage gives the bank more room to absorb credit losses, support lending or dividends, and pursue strategic investments without destabilizing core capital ratios.
Negative Factors
Revenue volatility
Intermittent revenue declines, such as the 2024 dip, signal sensitivity in the bank's commercial or fee businesses. Persistent volatility complicates forecasting, provisioning, and capital planning, making sustained strategic investments and payout commitments harder to manage.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving leverage
A sustained decline in debt-to-equity to ~0.45 reduces financial risk and increases capital flexibility. Lower leverage gives the bank more room to absorb credit losses, support lending or dividends, and pursue strategic investments without destabilizing core capital ratios.
Read all positive factors
First Resource Bank (FRSB) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$79.84M
Dividend Yield0.23%
Average Volume (3M)653.00
Price to Earnings (P/E)7.9
Beta (1Y)0.23
Revenue Growth22.01%
EPS Growth57.74%
CountryUS
Employees15
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)3.27
Shares Outstanding3,085,612
10 Day Avg. Volume1,126
30 Day Avg. Volume653
Financial Highlights & Ratios
PEG Ratio0.13
Price to Book (P/B)1.01
Price to Sales (P/S)1.34
P/FCF Ratio7.54
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
First Resource Bank Business Overview & Revenue Model
Company Description
First Resource Bancorp Inc. serves as the parent company for First Resource Bank, which delivers a comprehensive range of personal and commercial banking products and services. The institution primarily caters to businesses and individual customer...
How the Company Makes Money
FRSB primarily makes money through net interest income and non-interest (fee) income. Net interest income is earned from the spread between (a) interest collected on loans and other interest-earning assets and (b) interest paid to depositors and o...
First Resource Bank Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
71
Positive
Cash Flow
66
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 49.37M | 44.33M | 19.98M | 30.38M | 21.79M | 18.95M |
| Gross Profit | 29.46M | 25.69M | 19.98M | 19.57M | 17.76M | 15.77M |
| EBITDA | 12.35M | 10.70M | 7.14M | 7.96M | 7.48M | 5.66M |
| Net Income | 9.82M | 8.16M | 5.31M | 5.93M | 5.63M | 4.17M |
Balance Sheet | ||||||
| Total Assets | 840.97M | 817.36M | 663.58M | 602.62M | 516.72M | 469.06M |
| Cash, Cash Equivalents and Short-Term Investments | 62.56M | 109.05M | 17.84M | 40.99M | 31.47M | 54.50M |
| Total Debt | 24.63M | 26.48M | 12.72M | 50.51M | 42.69M | 30.23M |
| Total Liabilities | 777.21M | 758.59M | 613.29M | 556.48M | 476.63M | 433.51M |
| Stockholders Equity | 63.76M | 58.77M | 50.29M | 46.14M | 40.10M | 35.55M |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 7.86M | 5.61M | 5.45M | 4.71M | 3.86M |
| Operating Cash Flow | 0.00 | 8.11M | 6.00M | 5.62M | 5.02M | 4.00M |
| Investing Cash Flow | 0.00 | -80.35M | -67.89M | -63.65M | -53.49M | -59.58M |
| Financing Cash Flow | 0.00 | 144.83M | 55.91M | 76.25M | 43.52M | 40.12M |
First Resource Bank Technical Analysis
Positive
25.76
Price Trends
24.73
Positive
23.30
Positive
21.71
Positive
Market Momentum
0.29
Positive
63.75
Neutral
91.57
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FRSB, the sentiment is Positive. The current price of 25.76 is above the 20-day moving average (MA) of 25.51, above the 50-day MA of 24.73, and above the 200-day MA of 21.71, indicating a bullish trend. The MACD of 0.29 indicates Positive momentum. The RSI at 63.75 is Neutral, neither overbought nor oversold. The STOCH value of 91.57 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FRSB.
First Resource Bank Peers Comparison
UnderperformOutperform
Sector (68)
FRSB
First Resource Bank
25.95
9.18
54.69%
ASRV
Ameriserv Financial
4.85
1.89
63.85%
FSEA
First Seacoast Bancorp
17.12
5.50
47.33%
CLST
Catalyst Bancorp
17.39
4.73
37.36%
NSTS
NSTS Bancorp
14.03
2.11
17.66%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.