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First Resource Bank (FRSB) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of First Resource Bank $31.26, price $25.88, upside +20.8%, quality 53 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? Yes
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Financial Services · US · ISIN US3361771005

FR First Resource Bank logo Some data Sep 23, 2026

First Resource Bank

FRSB · US

UndervaluedThe stock appears undervalued with acceptable quality.

✓Fair value $31.26 · Undervalued (+21%)
!Quality 53/100
✓Healthy Growth (revenue 5y +14.1 %/yr)
✓Highly profitable · 32.5% net margin (TTM)
✓Low debt · generates free cash flow
✓Ranks above peers (9/13)
✓Wide moat 70/100
!Evidence only medium, so the estimate is less certain
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$25.95 $5.94 Fair Value $31.26 May 2017 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.

How to read this chart

60‑month range $5.94 – $25.95 · fair‑value band $23.44 – $39.07 · the $25.88 price screens below the $31.26 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 23, 2026.

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Company profile

First Resource Bancorp, Inc. operates as the bank holding for First Resource Bank that provides personal and business banking products and services to businesses and families primarily in the southeastern area of Pennsylvania.

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First Resource Bancorp, Inc. operates as the bank holding for First Resource Bank that provides personal and business banking products and services to businesses and families primarily in the southeastern area of Pennsylvania. The company offers savings, checking, and term certificate accounts, as well as certificate deposit account registry services, insured cash sweeps, certificates of deposit, and IRAs. It also provides loan products, such as commercial mortgages, construction loans, working capital credit lines, small business administration loans, commercial term loans, home equity lines of credit, fixed payment home equity loans, residential construction loans, land loans, overdraft protection, vehicle loans, unsecured installment loans, certificate of deposit secured installment loans, and swing loans. In addition, the company offers personal financial statements; credit and debit cards; digital banking services; and cash management, positive pay, ACH origination, sweep/transfer of funds, ATM, over the counter checks, bill payment, wire transfer, signature guarantee/notary, safe deposit box, drive-up banking, night depository, foreign currency exchange, cashier's check, e-statements, and stop payments, as well as telephone, messaging and text, online, and mobile banking services. First Resource Bancorp, Inc. was founded in 2005 and is based in Exton, Pennsylvania.

Stock analysis

First Resource Bank (FRSB) currently trades at $25.88, while our model-based Fair Value estimate is $31.26, implying the stock looks roughly 17.2% undervalued today.

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Valuation

Bull case: the Multiples group reads highest at a median of $27.38 per share, and 2 of the 4 models we run sit above the $25.88 price.

Bear case: the Asset-Based group reads lowest at $13.10, and 2 of the 4 models stay below the price. Evidence for this calculation is medium.

Scenario range: $23.44 (bear) to $39.07 (bull), the price of $25.88 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 53/100 (solid quality), in the Financial Services sector.

Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.

First Resource Bank reported revenue of $26.6M in FY2025 versus $16.3M in FY2021, a compound +12.9%/yr. Reported net income was $8.2M in FY2025, compounding +18.3%/yr from FY2021.

Key figures

Market cap $77.8M · P/E ratio 8.7 · P/S ratio 2.68 · EPS (TTM) $2.97 · Net margin 30.7% · Return on equity 15.8% · Return on assets (EBIT) 0.9% · Operating margin 44.0%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).

What moves the price

The share trades at its 52-week high and 46% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Financial Services peers we cover trades at −37% fair-value upside, at 21%, FRSB screens cheaper than that median.

Fair Value models

Bear $23.44 Fair Value $31.26 Bull $39.07
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then ($2.18 per share) are deliberately not added. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
Residual Income $17.08 $19.46 $31.91 69
P/E Multiple $26.47 $35.30 $44.12 63
P/B Multiple $20.54 $27.38 $34.23 55
All 4 models by family
Multiples
P/E Multiple $26.47 $35.30 $44.12 63
P/B Multiple $20.54 $27.38 $34.23 55
Asset-Based
NCAV (Graham) $9.78 $13.10 $19.56 54
Economic Profit
Residual Income $17.08 $19.46 $31.91 69

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Quality Score breakdown

Overall quality 53/100

Of which business quality 53 · Market factors (momentum, volatility) 89

Profitability 37
Margins and returns on capital today
Quality Growth 51
Are margins and returns improving?
Cashflow 83
Earnings quality: real cash, not paper profit
Fin. Strength 37
Balance sheet, leverage, solvency risk
Investment 50
Disciplined investing over empire-building
Low Volatility 95
Calm price path (market factor)
Momentum 79
Price trend over the last 3–12 months (market factor)
52W Momentum 100
Distance to the 52-week high (market factor)
Net Issuance 62
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+23.9%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+13.0%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+14.1%
Start year 2020 (pandemic). Over 10 years: +14.0% a year
Revenue growth 11 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+14.2%
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+19.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+19.5%
Dividend (yield on the price)0.0%
Profit margin 2014 to 2019 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.31% → 24%

Growth Forecast

Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−34.0%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about −35.6% a year for the price.

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Banks - Regional · 1076 stocks

Beats the industry median on 9/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 56 · Above median
Fair Value upside +21% · Top 25%
Profitability
Return on equity (TTM) 16% · Top 25%
Return on assets 1% · Above median
Net margin (TTM) 33% · Above median
Operating margin (TTM) 44% · Above median
Growth and dividend
Revenue growth 32% · Top 25%
Dividend yield (TTM) 0.0% · Bottom 25%
Balance sheet
Debt / equity 0.45× · Above median

Valuation Multiplesvs Banks - Regional median · lower = cheaper

P/E (TTM) 8.7× · Cheapest 25%
P/B 1.32× · Pricier than median
P/S (TTM) 2.83× · Cheaper than median
P/FCF 9.9× · Pricier than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)61 · sector 11
FUTURE (revenue growth)100 · sector 45
PAST (return on equity)63 · sector 41
HEALTH (low debt)77 · sector 85
DIVIDEND (yield)0 · sector 53

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Banks - Regional stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
DBS Group D05 77.69 SGD 40.48 SGD −48%
China Merchants Bank Co 3968 HK$51.25 HK$62.30 +22%
Intesa Sanpaolo S.p.A ISP €6.73 €4.04 −40%
HDFC Bank Limited HDFCBANK ₹737.25 ₹406.85 −45%
BNP Paribas SA BNP €98.43 €105.99 +8%
UniCredit S.p.A UCG €82.18 €77.62 −6%
Mizuho Financial Group MFG $10.74 $6.75 −37%
ICICI Bank Limited ICICIBANK ₹1,340 ₹616.16 −54%
The PNC Financial Services Group PNC $224.03 $159.52 −29%
Oversea-Chinese Banking Corporation O39 32.14 SGD 19.80 SGD −38%

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First Resource Bank · Fair Value
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Cite: Fair Value Calculator (2026). "First Resource Bank Fair Value". https://www.fairvalue-calculator.com/stock/FRSB

Frequently asked questions

Is First Resource Bank (FRSB) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of $31.26 versus a price of $25.88, about +21% upside (undervalued).
What is the fair value of FRSB?
Our model-based fair value for First Resource Bank is $31.26 (as of Sep 23, 2026), built from audited fundamentals. The current price: $25.88.
What is the quality score of FRSB?
First Resource Bank has a Quality Score of 53/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for First Resource Bank (FRSB)?
Our model-based price target is the fair value of $31.26 (as of Sep 23, 2026) from 4 valuation models. Cautious scenario $23.44, optimistic scenario $39.07. It is a calculation from audited fundamentals, not an analyst target.
What is the First Resource Bank stock forecast for 2026?
Our models put fair value at $31.26, about +21% upside versus a price of $25.88 (undervalued). Cautious scenario $23.44, optimistic scenario $39.07. The calculation is refreshed regularly with new filings.
What is the revenue of First Resource Bank (FRSB)?
First Resource Bank reported trailing-twelve-month revenue of about $27.5M (latest available figure, as of Sep 23, 2026).
What growth is priced into First Resource Bank (FRSB)?
For today's price to be fair in a discounted-cash-flow model, First Resource Bank would have to grow free cash flow by -34.0 % per year for five years (discount rate 11.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +14.1 % per year. As of Sep 23, 2026.
What discount rate (WACC) does the fair value of FRSB use?
Our models discount First Resource Bank at 11.2 %: a base by market capitalisation (micro), damped by beta 0.09, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For First Resource Bank that is -34.0 % per year a year over ten years, using the same discount rate (11.2 %) and the same formula as our fair value.
How much growth has First Resource Bank (FRSB) delivered so far?
Over the past 5 years revenue at First Resource Bank grew +14.1 % a year. The price currently implies -34.0 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of First Resource Bank (FRSB) growing?
The median revenue growth in the sector is +8.3 % a year. That is the yardstick for the growth priced into First Resource Bank (-34.0 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of First Resource Bank (FRSB)?
The free-cash-flow yield on the price is 10.11 %: that much free cash flow First Resource Bank produces per unit of market value. When it exceeds the discount rate of our models (11.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of First Resource Bank (FRSB)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For First Resource Bank it is $31.26 per share (as of Sep 23, 2026), against a price of $25.88. It is the blended result of 4 valuation models (cash flow, earnings, asset, dividend).
Is First Resource Bank stock overvalued or undervalued in 2026?
As of Sep 23, 2026, FRSB trades below its calculated fair value: price $25.88, fair value $31.26, a gap of about +21% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of FRSB?
No. The price is what the market pays today ($25.88); the fair value is what the company's own numbers justify ($31.26). For First Resource Bank the two are $5.38 per share apart. That gap is exactly why we show both numbers side by side.
How much is First Resource Bank worth?
The market values First Resource Bank at about $77.8M (market capitalisation, as of Sep 23, 2026). Per share that is $25.88; our models calculate a fair value of $31.26 per share.
What do the bullish and bearish scenarios say about FRSB?
Our models span a range for First Resource Bank: cautious scenario $23.44, base $31.26, optimistic $39.07 per share (as of Sep 23, 2026, price $25.88). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of FRSB?
First Resource Bank trades at a price-to-earnings ratio of 8.7 (as of Sep 23, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $31.26 is built from several models across several years. Other multiples: P/B 1.3, P/S 2.8.
How solid is the balance sheet of First Resource Bank (FRSB)?
Balance-sheet figures for First Resource Bank (as of Sep 23, 2026): return on equity 15.8%, debt of 0.45 per unit of equity. They feed the Quality Score of 53/100, which measures business quality independently of the share price.
How far is FRSB from its 52-week high?
First Resource Bank trades at $25.88, at its 52-week high of $25.95 and 46% above the low of $17.67 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of $31.26 is for.
Which stocks are comparable to First Resource Bank?
From the same area (Financial Services) we also value DBS Group, China Merchants Bank Co, Intesa Sanpaolo S.p.A, HDFC Bank Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is First Resource Bank stock attractive at the current price?
The data as of Sep 23, 2026: price $25.88, calculated fair value $31.26 (+21%), Quality Score 53/100, from 4 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of FRSB calculated?
We run First Resource Bank through 4 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $31.26, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0 % above its aggregate fair value. First Resource Bank currently trades 21 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of First Resource Bank (FRSB)?
The closing price on Sep 23, 2026 was $25.88. Our model-based fair value is $31.26, about +21% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with First Resource Bank right now?
Solid quality (53/100) at a price below fair value, the discount is the argument here, not the business quality. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.

Key figures of First Resource Bank

How large is the market capitalisation of First Resource Bank (FRSB)?
The market capitalisation of First Resource Bank is $77.8M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of First Resource Bank (FRSB)?
The price-to-sales ratio of First Resource Bank is 2.68 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of First Resource Bank (FRSB)?
Earnings per share at First Resource Bank are $2.97 (price ÷ EPS = P/E 8.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of First Resource Bank (FRSB)?
The net margin of First Resource Bank is 30.7% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of First Resource Bank (FRSB)?
The return on equity (ROE) of First Resource Bank is 15.8% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of First Resource Bank (FRSB)?
On an EBIT basis the return on assets of First Resource Bank is 0.9% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of First Resource Bank (FRSB)?
The operating margin of First Resource Bank is 44.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at First Resource Bank (FRSB)?
Revenue at First Resource Bank is growing +31.6% versus a year earlier (3y avg +13.0%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at First Resource Bank (FRSB)?
Earnings per share at First Resource Bank are growing +46.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does First Resource Bank (FRSB) carry?
The net debt of First Resource Bank is $36.8M (fiscal year 2024, ≈ 4.7 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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