First Resource Bank (FRSB) AI Stock Analysis

• Market Cap: $46.81M
• Dividend Yield: N/A
• Average Volume (3M): 1.11K
• Price to Earnings (P/E): 8.1
• Beta (1Y): 0.24
• Revenue Growth: 20.10%
• EPS Growth: -3.38%
• Country: US
• Employees: 15
• Sector: Financial
• Sector Strength: 74
• Industry: Banks - Regional
• EPS (TTM): 0.56
• Shares Outstanding: 3,085,612
• 10 Day Avg. Volume: 261
• 30 Day Avg. Volume: 1,114
• PEG Ratio: 0.20
• Price to Book (P/B): 0.97
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 8.29
• Enterprise Value/Market Cap: 1.37
• Enterprise Value/Revenue: 0.50
• Enterprise Value/Gross Profit: 1.98
• Enterprise Value/Ebitda: 2.60
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0

• Rating: 70 Outperform
• Price Target: ―

First Resource Bank demonstrates strong financial performance with consistent revenue growth and effective leverage management, though profitability margins have declined. The stock's technical indicators suggest it may be overbought, but the low P/E ratio points to undervaluation, presenting a potential opportunity. Overall, the bank's stable financial position and attractive valuation are offset by technical concerns and margin pressures.

First Resource Bank Business Overview & Revenue Model

Company Description

First Resource Bank (FRSB) is a community bank that serves individuals and businesses with a range of financial services. It operates primarily within the banking sector, offering core products such as personal and business checking and savings accounts, mortgage lending, commercial loans, and online banking services. FRSB is committed to providing personalized banking solutions and fostering long-term relationships with its clients.

How the Company Makes Money

First Resource Bank makes money through a variety of revenue streams, primarily through interest income generated from loans and credit products it issues to customers. The bank earns interest on mortgage loans, personal loans, and commercial loans. Additionally, FRSB generates non-interest income from fees associated with account maintenance, transaction processing, and other banking services. The bank may also earn revenue through investments in securities and other financial instruments. Significant partnerships with local businesses and community organizations can enhance the bank's earnings by expanding its customer base and increasing transaction volumes.

First Resource Bank Financial Statement Overview

Summary

First Resource Bank shows a positive growth trajectory with increasing revenue and expanding equity. Despite strong performance in revenue growth, the decrease in margins and a relatively low equity ratio pose certain risks. The bank demonstrates prudent leverage management, with a decreasing debt-to-equity ratio. Cash flow metrics suggest decent cash generation, though improvements in free cash flow management might be beneficial. Overall, the bank maintains a stable financial position with some areas needing attention for stronger performance.

Income Statement

First Resource Bank has demonstrated consistent revenue growth, with a strong increase from $13.75M in 2020 to $19.98M in 2024, indicating a positive growth trajectory. The gross profit margin remains stable as total revenue is equal to gross profit. However, the net profit margin dropped in 2024 to 26.59% from 19.50% in 2023, which indicates some challenges in maintaining profitability at previous levels. The EBIT margin also decreased to 43.68% in 2024, reflecting higher operating costs. The lack of EBITDA figures for 2024 suggests a potential area of concern in terms of non-operating income or expenses.

Balance Sheet

The balance sheet shows a healthy equity growth from $27.98M in 2019 to $50.29M in 2024, indicating a strengthening financial position. The debt-to-equity ratio decreased to 0.25 in 2024 from 1.10 in 2019, suggesting improved leverage and risk management. The return on equity is moderate at 10.56% in 2024, and the equity ratio of 7.57% indicates a relatively low proportion of equity financing compared to total assets, which might be a potential risk factor.

Cash Flow

Operating cash flow has shown a steady increase, reaching $5.99M in 2024. However, free cash flow growth rate has been inconsistent, with a slight increase to $5.61M in 2024 from $5.45M in 2023. The operating cash flow to net income ratio of 1.13 in 2024 suggests efficient cash generation relative to net income. The free cash flow to net income ratio of 1.06 indicates that cash flow is closely aligned with reported earnings, although there is room for improvement in cash flow management.

Breakdown
Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
19.98M	30.38M	18.42M	16.34M	13.75M
	Gross Profit
19.98M	19.57M	18.42M	16.34M	13.75M
	EBIT
8.73M	20.14M	10.43M	5.21M	4.05M
	EBITDA
6.64M	29.97M	7.48M	5.66M	4.49M
	Net Income Common Stockholders
5.31M	5.93M	5.63M	4.17M	3.25M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
17.84M	23.82M	31.47M	54.50M	60.89M
	Total Assets
663.58M	602.62M	516.72M	469.06M	424.43M
	Total Debt
12.72M	50.51M	42.69M	30.23M	32.15M
	Net Debt
-5.11M	26.59M	36.99M	19.59M	5.54M
	Total Liabilities
613.29M	556.48M	476.63M	433.51M	392.98M
	Stockholders Equity
50.29M	46.14M	40.10M	35.55M	31.46M
Cash Flow		Free Cash Flow
5.61M	5.45M	4.71M	3.86M	1.94M
	Operating Cash Flow
6.00M	5.62M	5.02M	4.00M	2.09M
	Investing Cash Flow
-67.89M	-63.65M	-53.49M	-59.58M	-63.11M
	Financing Cash Flow
55.91M	76.25M	43.52M	40.12M	84.51M

First Resource Bank Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 15.17
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FRSB, the sentiment is Neutral. The current price of 15.17 is below the 20-day moving average (MA) of 15.24, above the 50-day MA of 14.80, and above the 200-day MA of 14.75, indicating a neutral trend. The MACD of 0.10 indicates Positive momentum. The RSI at 52.12 is Neutral, neither overbought nor oversold. The STOCH value of 37.88 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for FRSB.

First Resource Bank Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
OPHC	78 Outperform	$51.70M	3.30	15.30%	―	43.98%	37.57%
HFBL	76 Outperform	$40.75M	11.98	6.24%	3.98%	-2.69%	-21.26%
FRSB	70 Outperform	$46.81M	8.10	11.39%	―	20.10%	-3.38%
Sector *	64 Neutral	$12.77B	9.78	7.84%	78.83%	12.06%	-7.99%
CLST	57 Neutral	$52.51M	22.80	2.70%	―	152.27%	―
TCBS	48 Neutral	$48.65M	23.87	3.88%	1.00%	19.16%	―