First Reliance 2Q FY26 net income drops 23.2% to $2.8 million; revenue falls 8.03% to $12.8 million - FSRL News | RalliesFirst Reliance 2Q FY26 net income drops 23.2% to $2.8 million; revenue falls 8.03% to $12.8 million
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FSRL• Merger target
- A Colony Bank merger is targeted for Q4 2026.
Second-quarter results
- First Reliance Bancshares posted Q2 2026 net income of $2.8 million, down 23.2% from Q2 2025; diluted EPS fell to $0.34.
- Operating earnings (Non-GAAP) rose to $3.1 million from Q2 2025, lifting operating diluted EPS to $0.38.
- Net interest income climbed 8.4% year over year to $9.9 million, while net interest margin widened 21 basis points to 3.74%.
Balance sheet and asset quality
- Loans held for investment increased $19.5 million from March 31 to $820.7 million; deposits slipped $8.7 million to $920.3 million.
- Nonperforming assets fell to $626,000 from March 31, following full collection of one loan.
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