FSRL - First Reliance Bancshares GAAP EPS of $0.17 beats by $0.03 revenue of $9.43M beats by $1.8M

2023-04-26 17:28:10 ET

• First Reliance Bancshares press release ( OTCPK:FSRL ): Q1 GAAP EPS of $0.17 beats by $0.03 .
• Revenue of $9.43M (+3.7% Y/Y) beats by $1.8M .
• Net interest income for the quarter was $7.3 million, which represents a decrease of $0.6 million, or 7.8%, on a linked quarter basis and an increase of $0.7 million, or 10.6% compared to the same period in 2022.
• Net interest margin decreased during the quarter to 3.34% at March 31, 2023, compared to 3.68% for the fourth quarter of 2022, but increased 22 basis points compared to the same period in 2022.
• Total loans increased $8.7 million, or 5.2% annualized, to $670.0 million at March 31, 2023, from $661.3 million at December 31, 2022.
• Total deposits increased $38.7 million, or 19.4% annualized, to $836.9 million at March 31, 2023, from $798.2 million at December 31, 2022.

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