GRRB - GrandSouth Bancorporation GAAP EPS down Y/Y revenue up Y/Y merger with First Bancorp agreed

• GrandSouth Bancorporation press release ( OTCQX:GRRB ): Q2 GAAP EPS of $0.65 (vs. $0.71 in year-ago period).
• Revenue of $13.9M (+10.3% Y/Y).
• The annualized returns on average assets and average equity were 1.18% and 15.22%, respectively.
• "We have agreed to a proposed merger with First Bancorp ( FBP ), a banking company headquartered in North Carolina with over $10B in assets, that, pending regulatory and our shareholder approval, is projected to close late this year or the first quarter of 2023," President JB Schwiers said.

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