EXTON, Pa., Sept. 16, 2011 /PRNewswire/ -- First Resource Bank (OTC Bulletin Board : FRSB ) announced it received a $5.1 million preferred stock investment from the U.S. Department of the Treasury as part of the Small Business Lending Fund. The proceeds of this investment were used to redeem all preferred stock previously issued under the Department of the Treasury's TARP Capital Purchase Plan.
President & CEO Glenn B. Marshall stated, "We are very pleased to have been included in the Small Business Lending Fund. We have been an active lender in our community and we plan to continue to grow our loan portfolio through the recent expansion of our lending staff."
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. Member FDIC.
SOURCE First Resource Bank