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