The local stock that rose the most among non-penny last week was GMH Communities Trust, of Newtown Square. American Campus Communities Inc., of Austin, Texas, agreed to buy GMH, which ignited the Delaware County company’s shares, which closed Friday at $8.84, up 55.1 percent. Both GMH and American Campus specialize in providing off-campus student housing for colleges and universities.
First Resource Bank, a small Exton bank, saw its shares fall the most. It closed at $5.40, down 16.9 percent. The bank, which has less than $100 million in assets, released its 2007 financial results last Monday. First Resource posted its first annual profit of $650,973 since it opened in May 2005.
Why'd the shares fall then? Maybe it had to do with the $6.5 million decline in deposits during the fourth quarter. The bank did say that its deposits rose $5.7 million in January alone to $75.3 million.
