First Resource Bank Announces 2011 Results
/PRNewswire/ -- First Resource Bank (OTC Bulletin Board: FRSB) announced net income for the twelve months ended December 31, 2011 was $843,499 as compared to $490,360 for the prior year. This increase is primarily attributed to higher net interest income. Net income of $232,982 for the quarter ended December 31, 2011 compared to net income of $259,350 for the quarter ended September 30, 2011 and net income of $108,861 for the quarter ended December 31, 2010.Glenn B. Marshall, President & CEO, stated, "We are thrilled to announce these record results for the year ended December 31, 2011. During this year we achieved a significant increase in earnings, repaid the TARP Capital Purchase Plan preferred stock, qualified and issued preferred stock under the Small Business Lending Fund and decreased exposure to distressed loans."
Net interest income was $1,301,422 for the quarter ended December 31, 2011 as compared to $1,271,686 for the previous quarter. The net interest margin widened 13 basis points, from 3.77% for the three months ended September 30, 2011 to 3.90% for the three months ended December 31, 2011. This net interest margin improvement resulted from lower deposit interest costs and a reduction in low yielding average cash and short term investments held during the fourth quarter. The loan portfolio yield increased 4 basis points, while the deposit cost of funds declined 2 basis points.
The allowance for loan losses to total loans was 1.24% at December 31, 2011, September 30, 2011 and December 31, 2010. Non-performing assets, which include non-performing loans of $1.8 million and other real estate owned of $1.2 million, totaled $3.0 million at December 31, 2011. Non-performing assets to total assets decreased from 2.71% at September 30, 2011 to 2.20% at December 31, 2011 due to one loan paid off in full, one partial charge-off and the sale of two other real estate owned properties during the quarter.
The loan portfolio grew $3.0 million, or 2.7%, during the fourth quarter from $114.4 million at September 30, 2011 to $117.5 million at December 31, 2011. Total loans increased a net $4.5 million during the twelve months ended December 31, 2011, growing from $113.0 million at December 31, 2010 to $117.5 million at December 31, 2011.
quick short term cash loans - News
This net interest margin improvement resulted from lower deposit interest costs and a reduction in low yielding average cash and short term investments held during the fourth quarter. The loan portfolio yield increased 4 basis points, while the deposit
The increase in assets was concentrated in cash and cash equivalents, which increased by $21.7 million, or 231.5%, offset in part by a $10.8 million, or 23.0%, decrease in securities and a $7.6 million, or 2.1%, decrease in net loans.
(The following statement was released by the rating agency) Jan 27 - Fitch Ratings has revised Dachser India Private Limited's (DIPL) Outlook to Positive from Stable while affirming its National Long-Term rating at 'Fitch BBB+(ind)'.
Payday loans are small cash advances with triple-digit interest rates lent for a short term to people who agree to pay off the loan with their next paycheck. You see payday loan businesses in stand-alone storefronts and strip malls, and some major
BY GERRI GUZMAN Who wouldn't want to pay less for a loan? A new ballot initiative that would let Missouri voters decide whether the interest rate on short-term payday and installment loans should be capped at 36 percent sounds great in theory.
Instant Cash Payday loan – A right away Option - Alaska Bird Seed
Finding yourself inside of a situation whereby you need cash immediately may be a frightening experience. This is often particularly true in case your credit ranking is low. Instant cash cash loan just might be answer for you.
Pay day loans are generally as straightforward to acquire if you wanted to have got a poor credit rating. These are, of course, usually for relatively small amounts initially and therefore are there to tide you over until the next payday.
Should you have a bank account along with a debit card, the chances are you will find a loan fast.
Instant cash pay day loan companies search banks, financial companies and cash advance lenders to seek out who’ll provide the highest loan amounts in the best interest rates. This is actually the case it doesn t matter what your financial history. By utilizing someone conduct the search for you, with little or no delay you could have money transferred into your account.
You are able to of course operate the research yourself on their internet. Just before, join boot camp how much money is had the need to see you at your present financial difficulty. Then make certain that repayments certainly aren’t a difficulty. There’s no point taking out a quick term loan if you’re unable to satisfy the repayments, since this will incur further debts.
Assess your situation by comparing your outgoings with monies coming into the property. The point of any loan is usually to allow you to recover your position and then just give you the occasion to talk about immediate expenses.
Gradually reducing your debt is your ultimate goal. Financing will allow you to to do this, providing you have a very carefully worked out plan which enables anyone to reduce larger debts.
Many companies may give you a choice quickly short space of time, so ensure you’re prepared for any queries some might ask.
Situations arise which we often haven’t involved, and it’s these moments that an instant cash payday loan can be the reply. Whether you have collateral to promise up or possibly not, many institutions will bear the expense out an instant short term loan.
Compare payday loans, cash advances and short term loans and then apply online for a quick decision.
Compare payday loans, cash advances and short term loans and then apply online for a quick decision.
Compare payday loans, cash advances and short term loans and then apply online for a quick decision.
Compare payday loans, cash advances and short term loans and then apply online for a quick decision. 
If You Need Quick Cash and Your Credit Card is Maxed Out – Where Can You Get a Short Term Loan?