First Reliance Bancshares Reports Third Quarter 2026 Financial Results
First Reliance Bancshares (FSRL) reported steady third-quarter 2026 results, with net income holding flat at $2.7 million ($0.33 per diluted share) compared to the same period last year. The company saw growth in its nine-month performance, with net income reaching $9.0 million for the first three quarters of 2026, up from $8.0 million in 2025. While net interest margin experienced a slight sequential decline to 3.73%, year-over-year margins improved by 7 basis points. The company noted an increase in nonperforming assets due to a single $5.5 million loan, though management stated the loan is sufficiently collateralized and no specific allowance for credit loss was required. Looking ahead, First Reliance is nearing the completion of its merger with Colony Bank (CBAN). Following regulatory and shareholder approvals, the transaction is scheduled to close on November 1, 2026, which will create a combined entity with approximately $5.0 billion in total assets.
Topics: book value earnings per share loan growth net income net interest margin