First Resource Bank

What First Resource Bank does

First Resource Bank is a Pennsylvania state-chartered community bank, founded in 2005 and headquartered in Exton, PA, that provides deposit and credit services to small and mid-size businesses, individual consumers, non-profits, municipalities, veterans, attorneys, and property managers in the Delaware Valley. The bank operates three full-service branches in Exton, Wayne, and West Chester, PA, with a planned fourth branch in Stillwater, MN opening summer 2026, and trades publicly on the OTCQX market under ticker FRSB through its holding company, First Resource Bancorp, Inc.

The bank offers a full suite of deposit products (free personal and business checking, money market accounts, CDs up to 60 months, IOLTA, non-profit, and Diamond Club senior accounts) and lending products (commercial mortgages, construction loans, SBA loans, working capital lines, home equity loans/lines, residential construction, vehicle loans, and land loans). Its technology stack centers on a unified online and mobile banking platform with iOS/Android apps, mobile check deposit, ACH origination, positive pay fraud prevention, Rapid Transfers, and an integrated MOOV-powered Tap to Pay feature with QuickBooks/Xero sync. The bank also offers FRed™ remote deposit capture (free scanner provided), Autobooks integrated invoicing, and Falcon-based debit card fraud monitoring. Membership in IntraFi's CDARS/ICS network enables up to $200 million in FDIC insurance coverage across multiple network banks.

First Resource Bank makes money primarily through net interest income (the spread between loan yields on commercial and consumer lending and rates paid on deposits), supplemented by transactional fee income (overdraft $40, wires $18 domestic/$45 foreign, stop payments $20, cashier's checks $10, safe deposit boxes). The go-to-market motion is sales-led and relationship-driven, with local decision-making and personal banker service as the primary differentiator versus large national banks. Marketing relies on community engagement (over $500,000 in annual contributions, record $450,000 EITC in 2025), local press coverage, awards-based credibility (nine consecutive years as Best Bank in Chester County, eight years as a Best Places to Work), and a switch-assistance program for new customer acquisition. The bank declared its first quarterly cash dividend in February 2026 after nine prior 5% stock dividends, reflecting a maturing franchise.

Name

First Resource Bank

Legal name

First Resource Bank

Website

https://firstresourcebank.com

Company type

Public

Founded year

2005

Operating status

Operating

Headcount range

51–100 employees

Short description

First Resource Bank is a Pennsylvania state-chartered community bank (founded 2005) operating three branches in the Delaware Valley, providing deposit, lending, and cash management services to small/mid-size businesses, consumers, non-profits, municipalities, and veterans, with FY2025 net income up 54%.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (52211)

SIC

State Commercial Banks (6022)

akta.pro primary industry

Mutual Savings Banks & Mutual Thrifts (FSABAEAD)

Keywords

• Community banking services
• Commercial lending products
• Consumer deposit accounts
• Small business banking
• Cash management services

Headquarters

HQ city

Exton

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Net Interest Income: Primary revenue source from the spread between interest earned on loans (commercial mortgages, construction loans, working capital lines, SBA loans, consumer loans) and interest paid on deposits (checking, money market, CDs). Core driver of bank profitability.
2. Fee Income: Various banking service fees including outgoing domestic wire transfers ($18), outgoing foreign wire transfers ($45), stop payments ($20), cashier's checks ($10), safe deposit box rental, lockbox services, and overdraft/NSF fees ($40). Many core services are provided free to attract deposits and loans.
3. Dividend Income (Shareholder Returns): Quarterly cash dividends declared to common shareholders ($0.02 per share as of 2026), representing distribution of earnings rather than revenue, but signaling financial strength and maturity of the franchise.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels7 records

Core offering

First Resource Bank is a Pennsylvania state-chartered community bank that provides deposit products (checking, money market, CDs, IRAs) and credit products (commercial mortgages, construction loans, SBA loans, working capital lines, home equity, vehicle loans) to small and mid-size businesses and individuals in the Delaware Valley. The bank operates three full-service branches complemented by online and mobile banking, and offers cash management services including remote deposit capture (FRed), Positive Pay fraud protection, ACH origination, lockbox, and Tap to Pay merchant acceptance. CDARS/ICS network membership provides customers with up to $200 million in FDIC insurance coverage.

Product overview

First Resource Bank is a Pennsylvania state-chartered community bank offering a comprehensive suite of deposit and lending products through both business and consumer channels. The bank operates three full-service branches in Exton, Wayne, and West Chester, serving the Delaware Valley market. Its business banking products include various checking and money market accounts, commercial lending (mortgages, construction, SBA loans, working capital lines), and cash management services. Consumer products include checking, savings, CDs, home equity products, and vehicle loans. The bank differentiates through digital banking capabilities including a mobile app with Tap to Pay, FRed remote deposit capture, Autobooks invoicing integration, and Positive Pay fraud protection. CDARS/ICS services provide FDIC insurance up to $200 million. The bank was founded in 2005 and declared its first quarterly dividend in 2026, marking its 20th anniversary.

Differentiator

Problem solved

Functional benefit

Brands

• FRed™ (First Resource Easy Deposit™): Remote deposit capture solution that allows business customers to scan and electronically deposit checks to their account from their office 24/7.
• FRed™

Products and services

• Basic Business Checking Free business checking account with no minimum balance requirement, no monthly maintenance fees, no transaction limits, and free first order of checks (up to $100 value). For small and mid-size businesses.
• Business Money Market Interest-earning business savings account with tiered rates (0.50%-1.98% APY), no minimum balance, and up to six withdrawals per statement cycle via check, debit card, or electronic transfers. For businesses seeking higher-yield operating reserves.
• Commercial Mortgage Loans Loans for owner-occupied and investment commercial properties including acquisition financing, refinancing, expansion, renovation, and land purchases. For commercial real estate investors and business owners.
• Construction Loans Construction financing for residential and commercial properties including land purchases, soft costs, and construction costs with flexible terms. For developers and property builders.
• Working Capital Lines of Credit Revolving credit facilities for periodic working capital needs with terms and conditions tailored to each business situation. For businesses managing cash flow cycles.
• SBA Loans Small Business Administration loan programs for working capital, equipment, real estate, and start-up costs. First Resource Bank is a qualified SBA lender offering various SBA program options for startups and businesses with collateral shortfalls.
• Commercial Term Loans Fixed-term loans for equipment purchases, vehicle purchases, business acquisitions, and leasehold improvements with flexible advance schedules. For small and mid-size businesses.
• Digital Banking Suite Comprehensive online and mobile banking platform offering account viewing, transaction management, fund transfers, bill payments, check deposits, alerts, and money manager tools. Available via iOS/Android app and web.
• FRed (First Resource Easy Deposit) Remote deposit capture solution that allows business customers to scan and electronically deposit checks from their office 24/7. Free scanner hardware provided at no cost; images stored in a secure online archive.
• CDARS / ICS Deposit Network FDIC insurance solution enabling multi-million dollar deposit protection through the CDARS (Certificate of Deposit Account Registry Service) and Insured Cash Sweep (ICS) networks via IntraFi. Provides up to $200 million in FDIC insurance.
• Autobooks Invoicing and Payment Acceptance Integrated payment and invoicing solution available within online banking. Enables accepting payments online via credit/debit/ACH, creating and sending digital invoices, and viewing all transactions. Payments deposit directly into First Resource Bank checking accounts typically within two business days.
• Tap to Pay Contactless payment acceptance powered by MOOV within the First Resource Bank mobile banking app. Enables businesses to accept in-person card and mobile wallet payments (Tap to Pay, Payment Links, and QR Code options) without additional hardware. Automatically syncs to QuickBooks and Xero for accounting.
• Positive Pay Fraud Prevention Fraud prevention service including Check Payee Positive Pay and ACH Positive Pay to protect business accounts from unauthorized transactions. Free enrollment and no monthly service fees.
• ACH Origination Electronic funds transfer service allowing businesses to send and collect funds electronically at no cost.
• Lockbox Services Secure payment processing service for municipalities, school districts, and businesses automating check payments, full page documents, and payment coupons.
• Free Personal Checking Fee-free personal checking account with full access to money, no minimum balances, and no account limits. For individual consumers.
• Free Checking with Interest Interest-bearing personal checking account with competitive rates and no minimum balance requirements.
• Diamond Club Checking Senior banking product for individuals 60 years and older featuring free checking with interest, one free check order per year for life, and competitive rates.
• Personal Money Market Tiered interest-earning personal savings account starting at $1 balance with competitive rates and sweep/transfer capabilities for overdraft protection.
• Certificates of Deposit (CD) / IRA Certificates of deposit with $500 minimum balance and competitive rates (2.47%-3.44% APY) on terms from 3 to 60 months. Includes IRA options.
• Home Equity Line of Credit Revolving credit line secured by home equity with a five-year draw period and fifteen-year repayment period. For homeowners seeking flexible access to equity.
• Fixed Payment Home Equity Loan Fixed-rate loan using home equity with consistent principal and interest payments throughout the loan term.
• Residential Construction Loans Construction financing for personal residence building with customizable terms and ability to use existing home equity.
• Land Loans Loans for acquisition of building lots for consumers ready to purchase but not yet ready to build.
• Vehicle Loans Fixed-rate loans secured by vehicles with consistent principal and interest payments.
• Swing Loan Short-term loan using equity in the current residence to help purchase a new personal residence (bridge financing).
• Veterans Benefits Banking Program Special banking services and products for veterans including special loan and deposit rate offers, available through dedicated contact channels.
• Business and Consumer Credit Cards Business and consumer credit cards issued by TCMBank, N.A. and offered through First Resource Bank branches and online channels.
• IOLTA Checking IOLTA (Interest on Lawyers' Trust Accounts) checking account for Pennsylvania attorneys, paying 2.63% APY to support civil legal services for the poor.

Quantifiable outcome

• Net income grew 54%, loans grew 13%, and deposits grew 31% in 2025 compared to the prior year (full year record results)
• +4 more outcomes

Named customers2 records

Segments7 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

Feature6 records

Partnerships

Seven partnerships are on record, tiered core and secondary.

• IntraFi (CDARS / ICS)coreTechnology or IntegrationFirst Resource Bank is a member of IntraFi's CDARS and ICS deposit networks, enabling the bank to offer customers up to $200 million in FDIC insurance coverage by placing large deposits across multiple network banks in increments under $250,000. This is a core differentiator for serving municipalities, estate planners, and businesses with large deposit needs.
• MOOV (Tap to Pay)coreTechnology or IntegrationMOOV powers the Tap to Pay contactless payment feature integrated within the First Resource Bank mobile banking app, enabling business customers to accept in-person card payments, payment links, and QR codes without additional hardware. MOOV handles the payment processing infrastructure.
• Allpoint (ATM Network)coreTechnology or IntegrationFirst Resource Bank customers have access to 55,000+ surcharge-free Allpoint ATMs nationwide, supplementing the bank's own branch and drive-up ATM network. No service charges apply when using Allpoint ATMs.
• AutobookssecondaryTechnology or IntegrationIntegrated invoicing and payment acceptance solution available within the First Resource Bank online banking portal. Enables businesses to create and send digital invoices, accept credit/debit/ACH payments, and manage accounting — all without third-party apps. Payments deposit directly into the customer's First Resource Bank checking account.
• TCMBank, N.A. (Credit Cards)secondaryTechnology or IntegrationBusiness and consumer credit cards are issued by TCMBank, N.A. First Resource Bank acts as a distribution channel, offering cards to business and retail customers through its branches and online channels. The bank is not a servicer of TCM Bank credit cards.
• Falcon (Fraud Detection)coreTechnology or IntegrationFalcon fraud detection system monitors business debit card transactions and automatically contacts customers through multiple channels (phone, text, email) when questionable purchases are detected, enabling real-time transaction authentication and fraud prevention.
• QuickBooks and XerosecondaryTechnology or IntegrationTap to Pay payments collected through the MOOV-powered payment feature automatically sync to QuickBooks and Xero accounting software, streamlining bookkeeping for business customers.

Scale indicators12 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• ACNB Corporation: Small publicly-traded PA community bank with a similar relationship-based business model, comparable asset base, and overlapping commercial/SMB lending focus.
• Univest Financial Corporation: Pennsylvania-based community bank holding company with a similar SMB and consumer banking franchise across southeastern PA — the same competitive footprint as First Resource Bank's Delaware Valley branches.
• Bryn Mawr Bank Corporation: Main Line / Delaware Valley community bank offering business and consumer banking. Direct geographic overlap in the same suburban Philadelphia markets where First Resource operates.
• Mid Penn Bancorp: Pennsylvania community bank holding company with a comparable mix of commercial, consumer, and SBA lending — comparable scale and operating model to First Resource.
• CNB Financial Corporation: Pennsylvania-headquartered community bank with a similar commercial-banking-led business model and overlapping footprint into adjacent Mid-Atlantic markets.
• MainStreet Bancshares (MainStreet Bank): Closest explicit comparable — cited by First Resource's own investor materials as the head-to-head P/E benchmark (13.20x vs FRSB 7.76x). Similar-sized community bank with a comparable small-business and consumer banking mix, also publicly traded and focused on relationship banking.
• Fidelity D & D Bancorp: Northeast community bank with a comparable asset size, deposit-funded lending model, and emphasis on SMB banking — a useful comp on profitability and growth metrics.
• DNB Financial Corporation: PA-based community bank with similar asset size, business lending focus, and Delaware Valley / Chester County deposit footprint — overlapping customer segments with First Resource.

Broad incumbents

• S&T Bancorp: Pennsylvania-based community bank with overlapping commercial and consumer banking focus but broader regional footprint and larger asset base — provides scale-comparable benchmarks.
• Tompkins Financial Corporation: Larger Mid-Atlantic / Northeast community bank holding company; comparable community-banking philosophy but broader geographic footprint and larger balance sheet — useful upper-bound comp.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/FirstResourceBank
• LinkedInlinkedin.com/company/first-resource-bank-pa

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about First Resource Bank