First Resource Bank (OTCQX: FRSB) announced that it has completed a private placement with institutional investors of 513,100 shares of common stock at a purchase price of $8.00 per share, for gross proceeds of $4.1 million.

Glenn B. Marshall, President & CEO, stated "We are pleased to announce this private placement of our common stock which generated new capital to take advantage of growth opportunities in our markets. In this process, we had the opportunity to present our hybrid community bank model to the institutional investor community which we see as a benefit now and in the future."

Sandler O'Neill + Partners, L.P. acted as sole placement agent for the offering.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities.

About First Resource Bank

First Resource Bank is a locally owned and operated Pennsylvania state-chartered bank with two full-service branches, serving the banking needs of businesses, professionals and individuals in Chester County, Pennsylvania. The Bank offers a full range of deposit and credit services with 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 small businesses, professionals and residents in the local market. For additional information visit our website at www.firstresourcebank.com. Member FDIC.