First Resource Bank reported consolidated unaudited earnings results for the second quarter and six months ended June 30, 2009. For the quarter, the company reported total interest income of $1,486,556, net interest income of $731,097, net loss of $32,936, net loss attributed to common shareholders of $74,861 as compared to total interest income of $1,540,379, net interest income of $720,504, net income of $23,673, net income attributable to common shareholders of $23,673 for the same period last year. The 18.5% improvement in net interest income was due in part to a one-time $36,875 prepayment penalty paid to the Federal Home Loan Bank of Pittsburgh during the first quarter to prepay a $2 million advance. For the six months, the company reported total interest income of $2,871,578, net interest income of $1,347,985, net loss of $190,516, net loss attributed to common shareholders of $260,391as compared to total interest income of $3,118,602, net interest income of $1,446,043, net loss of $39,102, net loss attributable to common shareholders of $39,102 for the same period last year. The net loss for the six months is due to increased FDIC insurance expenses, other real estate owned expenses as well as a lower net interest margin.

First Resource Bank reported earnings results for the first quarter ended March 31, 2009. For the quarter, the company announced a net loss of $157,580, which compares to a net loss of $62,774 for the same quarter last year. This net loss was primarily driven by a compressed net interest margin and increased provisions for loan losses. Net interest income was $616,888 for the quarter ended March 31, 2009 as compared to $725,539 for the same quarter last year. Non interest income for the quarter ended March 31, 2009 was $19,172. Included in non interest income during the first quarter is a gain of $2,740 on the sale of a residential property held as other real estate owned. Pre-tax loss for the quarter was $238,024 compared to $94,136 for the same quarter last year.

First Resource Bank reported unaudited earnings results for the fourth quarter and full year ended December 31, 2008. For the quarter, the company reported net loss of $253,202 compared with a net income of $21,686 for the same period a year ago. Pre-tax loss was $381,158, which compares to pre-tax income of $16,141 for the quarter ended September 30, 2008 and $35,328 for the quarter ended December 31, 2007. Net interest income was $637,393 compared to $778,073 for the previous quarter. For the quarter, the company reported total interest income of $1,432,573 compared with $1,658,135 for the same period a year ago. For the full year, the company reported net loss of $282,326 was recorded compared to net income of $650,973 for the year ended December 31, 2007. The $421,656 pre-tax loss for the year ended December 31, 2008 compared to pre-tax income of $122,562 for the year ended December 31, 2007. Operating results in 2008 were adversely affected by compression of the net interest margin, an increased provision for loan losses and expenses related to one other real estate owned property accepted in lieu of foreclosure. Net interest income was $2.9 million for the years ended December 31, 2008 and 2007. Net interest income was flat year over year due to the higher volume of interest earning assets that was offset by a lower margin on those assets. For the full year, the company reported total interest income of $6,144,137 compared with $6,342,338 for the same period a year ago.