First Reliance Bancshares Q2 profit falls on lower noninterest income
FSRL•Merger with Colony Bank expected to close in 2026
- First Reliance expects its merger with Colony Bank to close in the fourth quarter of 2026.
- The company said asset quality remains strong, as nonperforming assets declined in Q2 due to the payoff of a large nonaccrual loan.
Key details
| Metric | Actual |
|---|---|
| Q2 EPS | $0.34 |
| Q2 net income | $2.8 mln |
| Q2 net interest income | $9.9 mln |
| Q2 net interest margin | 3.74% |
Quarterly profit falls as noninterest income declines
- US community bank's Q2 net income fell 23% year over year, with EPS at $0.34.
- Net interest income rose 8.4% year over year, while net interest margin decreased during the quarter to 3.74%.
- The company said lower noninterest income weighed on results, due to the absence of a prior-year branch sale gain.
