First Reliance Bancshares, Inc. (FSRL)

First Reliance Bancshares Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Mar 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	44.02	42.81	36.17	28.56	25.29	26.78
Interest Income on Investments	9.9	9.68	8.85	4.64	1.44	1.34
Total Interest Income	53.92	52.49	45.02	33.21	26.72	28.12
Interest Paid on Deposits	18.55	18.41	12.55	1.96	1.03	2.39
Interest Paid on Borrowings	2.43	2.69	2.87	1.2	0.98	1.48
Total Interest Expense	20.98	21.11	15.42	3.16	2.02	3.87
Net Interest Income	32.94	31.38	29.6	30.04	24.71	24.25
Net Interest Income Growth (YoY)	13.94%	6.00%	-1.46%	21.60%	1.87%	10.75%
Mortgage Banking Activities	4.78	4.8	3.82	3.73	9.53	19.52
Gain (Loss) on Sale of Assets	-0.84	-0.82	0.03	0.71	0.07	-0.53
Gain (Loss) on Sale of Investments	-0.49	-0.31	-1.53	-	0.08	-0.21
Other Non-Interest Income	3.24	3.23	3.22	3.15	2.97	2.4
Total Non-Interest Income	7.97	8.2	6.92	8.98	14.2	22.5
Non-Interest Income Growth (YoY)	10.00%	18.49%	-22.95%	-36.77%	-36.87%	131.86%
Revenues Before Loan Losses	40.91	39.58	36.52	39.02	38.91	46.75
Provision for Loan Losses	0.82	0.32	0.37	0.48	0.3	2.91
Revenue	40.09	39.26	36.15	38.54	38.61	43.84
Revenue Growth (YoY)	11.90%	8.59%	-6.19%	-0.17%	-11.94%	43.20%
Salaries and Employee Benefits	18.76	18.36	16.3	18.46	20.18	17.82
Occupancy Expenses	2.38	2.43	2.46	2.56	2.2	2.09
Selling, General & Administrative	7.53	7.41	7.66	6.34	6.47	6.05
Other Non-Interest Expense	3.49	3.4	3.92	3.61	3.35	3.69
Total Non-Interest Expense	32.17	31.6	30.34	30.97	32.2	29.66
EBT Excluding Unusual Items	7.91	7.66	5.81	7.57	6.41	14.18
Other Unusual Items	0.14	-	-	-	-	-0.29
Pretax Income	8.05	7.66	5.81	7.57	6.41	13.89
Income Tax Expense	1.76	1.74	1.21	1.64	1.13	3.28
Net Income	6.3	5.92	4.6	5.93	5.28	10.62
Net Income to Common	6.3	5.92	4.6	5.93	5.28	10.62
Net Income Growth	40.88%	28.66%	-22.38%	12.40%	-50.30%	159.64%
Basic Shares Outstanding	8	8	8	8	8	8
Diluted Shares Outstanding	8	8	8	8	8	8
Shares Change (YoY)	1.86%	1.59%	0.45%	-0.18%	1.30%	-0.31%
EPS (Basic)	0.80	0.75	0.59	0.76	0.68	1.34
EPS (Diluted)	0.75	0.71	0.56	0.73	0.65	1.32
EPS Growth	38.83%	26.79%	-23.29%	12.31%	-50.76%	158.82%
Effective Tax Rate	21.81%	22.68%	20.82%	21.66%	17.65%	23.60%

Source: S&P Global Market Intelligence. Banks template. Financial Sources.