Welcome to our dedicated page for Bank Of Botetour news (Ticker: BORT), a resource for investors and traders seeking the latest updates and insights on Bank Of Botetour stock.
Bank of Botetourt (OTCPK: BORT, BORTP) is a Buchanan, Virginia-based full-service community bank that regularly publishes detailed financial and corporate updates. This news page aggregates company-issued announcements, giving readers a single place to review quarterly and annual financial results, dividend declarations, branch expansion plans, and leadership developments.
Investors following BORT can review unaudited results for recent quarters, including net income, earnings per share, net interest income, noninterest income, and key performance ratios such as return on average assets, return on average equity, book value per share, loan and deposit growth, net interest margin, and the Community Bank Leverage Ratio. The bank’s releases also describe trends in asset quality, including provisions for credit losses, non-performing assets, and net charge-offs.
Beyond earnings, Bank of Botetourt’s news highlights strategic and community-focused initiatives. Examples include the opening of a fourteenth full-service branch in Rocky Mount, Virginia, the filing of an application to establish a new office at Melrose Plaza in Roanoke City, and partnerships intended to support financial wellness and education in local communities. Leadership and governance updates, such as CEO succession plans and Board appointments, are also documented in press releases.
Readers can also see how the bank positions itself within the community banking landscape, including recognition by Forbes as Virginia’s #1 Best-In-State Bank in 2024 and references to its 125-year history. For anyone tracking Bank of Botetourt’s financial performance, capital management, and regional expansion, this news feed offers a structured view of the bank’s recent developments and strategic direction.
Bank of Botetourt (OTCPK: BORT) has promoted Michelle R. Austin to Executive Vice President and Chief Operating Officer, retaining her role as CFO. Michelle, who has been with the bank since 1991, holds a Bachelor’s and an MBA. George E. Honts IV was also promoted to Executive Vice President while continuing as Chief Lending Officer. Both leaders bring extensive industry experience and community insight, reinforcing the bank's strategic direction. President G. Lyn Hayth, III expressed confidence in their leadership as the bank continues its operations across Virginia.
Bank of Botetourt (OTCPK: BORT) reported strong financial performance for Q2 2021, with a net income of $1,582,000 or $0.91 per share, up from $1,172,000 or $0.68 per share year-over-year. For the first half of 2021, net income reached $3,562,000 or $2.05 per share, a 61.2% increase over 2020. Key metrics included an 8.3% growth in deposits and a return on average assets of 1.13%. Despite the increase in noninterest expenses driven by higher salaries, the bank's liquidity and capital ratios remained strong. A quarterly dividend of $0.18 per share was declared, payable August 19, 2021.
Bank of Botetourt (OTCPK: BORT) has elected Tommy L. Moore as its new Chairman, succeeding H. Watts Steger, III, who retired after serving since 2001. Moore, a Board member since 1982 and current Circuit Court Clerk for Botetourt County, brings extensive legal and community experience. His past military service as a JAG Officer in the Marine Corps and involvement in various local organizations highlight his commitment to the region. Bank President G. Lyn Hayth, III expressed confidence in Moore's leadership for future growth.
Bank of Botetourt (OTCPK: BORT) reported a historic net income of $1,980,000, or $1.14 per share, for Q1 2021, marking a 90.8% increase from $1,038,000 in Q1 2020. Total assets rose to $641 million, a 7.2% increase, while total deposits grew by 7.6% to $577.7 million. The bank maintained a strong Community Bank Leverage Ratio of 9.20%. Revenue from PPP loans contributed significantly, with a total of $31.5 million in PPP loans outstanding. A quarterly dividend of $0.18 per share was declared, payable on May 19, 2021.