First Resource Bank

Exton’s First Resource Bank has posted strong financial results for the third quarter, with record quarterly net income and net income growth of 10 percent over the same period last year. The bank also reported net interest income growth of three percent compared to the previous quarter, and 15 percent higher than the same period last year.

“The third quarter of 2016 was not only our most profitable quarter, but that profitability was driven completely by core earnings, without any gains on sales of SBA loans,” said Glenn B. Marshall, First Resource’s President and CEO.

Phoenixville Borough

Phoenixville Borough has been approved for a $50,000 grant for the improvement of the two sections of the Schuylkill River Trail that go through the area. State Representative Warren Kampf said that the funds will be used to pave the remaining 3,400 linear feet of unpaved trail in Phoenixville.

The Commonwealth Financing Authority grant, which comes from the Marcellus Legacy Fund, will provide most of the $77,807 in funding required to complete the project.

Liberty Property Trust

Malvern’s Liberty Property Trust has reported positive third-quarter results with net income to common shareholders of $0.37 per diluted share and funds from Operations at $0.66 per diluted share. Liberty saw increases in same store operating income of 2.6 percent compared to the same quarter last year, and same store operating income for the industrial distribution portfolio grow by 3.1 percent.

“During the quarter, our high-quality distribution portfolio achieved outstanding occupancy and recorded another quarter of double-digit rent growth,” said Bill Hankowsky, Liberty’s Chairman and CEO.