First Reliance Q2 Profit Drops 23% on Lower Noninterest Income; Merger with Colony Bank on Track for Q4
FSRL has more than doubled off its 52-week low of $9 on light trading volume (0.2× avg).
Summary
First Reliance Bancshares reported Q2 net income of $2.8M, down 23% year-over-year, as noninterest income fell due to the absence of a prior-year branch sale gain. Net interest income rose 8.4% to $9.9M, but the net interest margin compressed to 3.74%. Asset quality improved with a decline in nonperforming assets. The company reiterated that its merger with Colony Bank is expected to close in Q4 2026. The stock trades near its 52-week high at $18.90, above the median analyst target of $17.00, suggesting limited upside from current levels.
At the time of this announcement, FSRL was trading at $18.90 on OTC in the Finance sector, with a market capitalization of approximately $153.7M. The 52-week trading range was $9.00 to $19.50. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Reuters.