Announcing from its Exton headquarters that its common stock offering has been completely subscribed, First Resource Bank’s 320,000 available shares, plus the optional 40,000 in additional shares, have been sold to new and existing shareholders.
"We are thrilled that investors showed such a high level of confidence in this common stock offering from First Resource Bank," President and CEO Glenn B. Marshall said. "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 percent of our Small Business Lending Fund preferred stock."
The ongoing subordinated debt offering will total $4,000,000 or 6.5 percent of notes with a minimum subscription of $25,000.
First Resource Bank is a locally owned and operated Pennsylvania state-chartered bank. Serving the banking needs of businesses, professionals and individuals throughout Chester County, the bank offers a full range of deposit and credit services with the added benefit of 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 local businesses, professionals and residents.
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