EXTON, Pa., July 1, 2015 /PRNewswire/ -- First Resource
Bank (OTCQX: FRSB) announced that its common stock offering has
been completely subscribed. All 320,000 shares offered, plus the
optional 40,000 in additional shares that could be sold per the
offering circular, have been sold to new and existing
shareholders.
President & CEO, Glenn B.
Marshall stated, "We are thrilled that investors showed such
a high level of confidence in this common stock offering from First
Resource Bank. We have had to return numerous subscriptions that
were received in excess of the 360,000 shares offered in this
round. We look forward to wrapping up the subordinated debt
offering in the coming weeks to move forward with our plan to
redeem 75% of our Small Business Lending Fund preferred stock."
The ongoing subordinated debt offering will total $4,000,000 of 6.50% notes with a minimum
subscription of $25,000. For more
details on the offering, please contact Glenn Marshall directly at 610-561-6013.
About First Resource Bank
First Resource Bank is a locally owned and operated Pennsylvania state-chartered bank, serving the
banking needs of businesses, professionals and individuals in
Chester County, Pennsylvania. The
Bank offers a full range of deposit and credit services with a high
level of personalized service. First Resource Bank also offers a
broad range of traditional financial services and products,
competitively priced and delivered in a responsive manner to small
businesses, professionals and residents in the local market. For
additional information visit our website at
www.firstresourcebank.com. Member FDIC.
This press release contains statements that are not of
historical facts and may pertain to future operating results or
events or management's expectations regarding those results or
events. These are "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities and Exchange Act of 1934. These
forward-looking statements may include, but are not limited to,
statements about our plans, objectives, expectations and intentions
and other statements contained in this press release that are not
historical facts. When used in this press release, the words
"expects", "anticipates", "intends", "plans", "believes", "seeks",
"estimates", or words of similar meaning, or future or conditional
verbs, such as "will", "would", "should", "could", or "may" are
generally intended to identify forward-looking statements.
These forward-looking statements are inherently subject to
significant business, economic and competitive uncertainties and
contingencies, many of which are either beyond our control or not
reasonably capable of predicting at this time. In addition,
these forward-looking statements are subject to assumptions with
respect to future business strategies and decisions that are
subject to change. Actual results may differ materially from the
results discussed in these forward-looking statements.
Readers of this press release are accordingly cautioned not to
place undue reliance on forward-looking statements. First
Resource Bank disclaims any intent or obligation to update publicly
any of the forward-looking statements herein, whether in response
to new information, future events or
otherwise.
Nothing in this press release shall be considered an offer to
sell or a solicitation of an offer to buy any securities, which
shall be made only by means of an offering circular. A copy
of the offering circular may be obtained by contacting Glenn Marshall directly at 610-561-6013.
Any securities offered by the Bank are neither insured nor approved
by the FDIC or any other federal or state bank regulatory
agency.
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SOURCE First Resource Bank