Welcome to our dedicated page for BANK OF BOTETOURT BUCHANAN VA news (Ticker: BORTP), a resource for investors and traders seeking the latest updates and insights on BANK OF BOTETOURT BUCHANAN VA stock.
Bank of Botetourt PFD (BORTP) is the preferred stock of Bank of Botetourt, a Buchanan, Virginia-based full-service community bank. Company news releases identify Bank of Botetourt as a community bank whose securities trade over the counter under the symbols BORT and BORTP. The bank regularly issues detailed financial updates, which form the basis of the news flow associated with the preferred stock.
News items for Bank of Botetourt commonly include unaudited financial results for quarterly and annual periods. These releases discuss net income, basic earnings per share, loan and deposit growth, total assets, and key performance ratios such as return on average assets, return on average equity, net interest margin, and the Community Bank Leverage Ratio. They also describe changes in net interest income, noninterest income, noninterest expense, and provision for credit losses.
The bank’s news coverage also highlights asset quality metrics, including nonperforming assets, nonaccrual loans, net charge-offs, and the allowance for credit losses. Explanations are provided for movements in these measures, often referencing specific loan categories such as commercial and industrial loans or auto loans and describing collateral arrangements.
In addition to financial performance, Bank of Botetourt’s news includes information on dividends. The Board of Directors reports voting to pay a 7.00% preferred dividend, calculated at $0.49 per preferred share, and a quarterly common dividend, with record and payment dates disclosed in each release. Other news topics include branch expansion, such as the opening of a full-service branch in Rocky Mount and an application for a new office in Roanoke City, leadership transitions, board appointments, and recognition by Forbes as Virginia’s #1 Best-In-State Bank in 2024.
Investors following BORTP-related news can review these items to understand the issuing bank’s financial condition, capital position, dividend declarations, and strategic developments over time.
Bank of Botetourt (OTC-PINK: BORT) reported unaudited 2025 results with FY net income $10.802M ($5.25 basic EPS) versus $7.942M in 2024. Key metrics: total assets $923.10M, net loans $750.37M (+11.73%), deposits $823.06M (+7.28%), ROA 1.22%, ROE 12.29%, book value $44.19. The board declared a quarterly common dividend of $0.25 (11.1% increase) payable Feb 17, 2026, and a preferred dividend $0.49 payable Feb 6, 2026.
Bank of Botetourt (OTCPK: BORT) reported unaudited Q3 2025 results: net income $2.882M ($1.40 basic EPS), up 46.5% year‑over‑year, and nine‑month net income $8.094M ($3.94 EPS).
Key metrics at Sept 30, 2025: ROA 1.23%, ROE 12.48%, book value $42.86, net interest margin 3.76%, CBLR 10.57%. Total assets $898.8M, net loans $727.9M, deposits $778.9M.
The board declared a 7.00% preferred dividend ($0.49) payable Nov 7, 2025, and a $0.225 quarterly common dividend payable Nov 17, 2025.
Bank of Botetourt (OTCPK: BORT) reported strong Q2 2025 financial results, with net income of $3.17 million ($1.55 per basic share), up 44.46% from $2.19 million ($1.06 per share) in Q2 2024.
Key highlights include a Return on Assets of 1.20%, Return on Equity of 12.26%, and total asset growth of 3.14%. The bank demonstrated solid growth with deposits increasing 2.60% and loans growing 4.43%. The Community Bank Leverage Ratio stood at 10.42%, with a Net Interest Margin of 3.70%.
The Board approved a $0.225 quarterly dividend for common shareholders and a 7.00% preferred dividend of $0.49 per share. Asset quality remained strong with minimal charge-offs, though non-performing assets increased to $629,000 from $51,000 in December 2024.
Bank of Botetourt (OTCPK: BORT) celebrated the grand opening of its first full-service branch in the City of Roanoke at Melrose Plaza. The 2,600-square-foot branch features a 24/7 ATM and three new employees, offering traditional banking services and free financial coaching. The branch is part of the Melrose Plaza redevelopment project led by Goodwill Industries of the Valleys.
The ribbon-cutting ceremony was attended by city officials and community leaders, including Roanoke Mayor Joseph Cobb and representatives from the Roanoke Regional Chamber of Commerce and Virginia Black Chamber of Commerce. The new location joins existing tenants such as Market on Melrose and Melrose Branch Library, with additional services planned to open later this summer.
Bank of Botetourt (OTCPK:BORT) announces CEO G. Lyn Hayth, III will retire on June 30, 2025, after nearly 40 years of service. Michelle R. Austin, current President and COO, will succeed as CEO effective July 1, 2025. Hayth will remain Vice-Chair and transition to Chief Strategic Officer part-time.
Under Hayth's leadership since 2010, the bank's total assets grew from $310 million to $864 million. His tenure saw expansion into new markets, establishment of Virginia Mountain Mortgage and Botetourt Wealth Management divisions, and successful navigation through the Great Recession and COVID-19 pandemic. The bank's PPP program helped retain over 4,000 jobs, and in 2024, Forbes recognized it as Virginia's #1 Best-In-State Bank.
Austin, who joined as an intern in 1991, brings extensive experience including 18 years as CFO and leadership roles in various departments. She holds an MBA and has served as President and COO since 2023.
Bank of Botetourt (BORT) reported strong financial results for Q4 and full-year 2024. The bank achieved Q4 net income of $1,954,000 ($0.94 per share), up from $1,800,000 ($0.86 per share) in Q4 2023. Full-year 2024 net income was $7,942,000 ($3.82 per share), compared to $8,173,000 ($3.95 per share) in 2023.
Key highlights include total deposit growth of 10.94%, total asset growth of 8.35%, and total loan growth of 13.20%. The bank maintained strong asset quality with a Community Bank Leverage Ratio of 10.22%. The Board approved a 12.5% increase in quarterly dividend to $0.225 per common share, payable February 18, 2025, and a 7.00% preferred dividend of $0.49 per share, payable February 7, 2025.
The bank expanded its presence by opening its fourteenth full-service branch in Rocky Mount, Virginia, on December 23, 2024.
Bank of Botetourt (OTCPK: BORT) reported Q3 2024 net income of $1.97 million ($0.94 per share), compared to $2.09 million ($1.01 per share) in Q3 2023. For the nine months ended September 2024, net income was $5.99 million ($2.88 per share). Key highlights include total deposit growth of 2.49%, asset growth of 3.41%, and loan growth of 9.65%. The bank maintained a strong Community Bank Leverage Ratio of 10.53%. The Board approved a $0.20 quarterly dividend for common shareholders and a 7.00% preferred dividend. The decrease in quarterly net income was primarily due to higher interest expenses and provision for credit losses, partially offset by increased interest and fees on loans.
Bank of Botetourt (OTCPK: BORT) reported strong Q2 2024 financial results, exceeding budget expectations. Key highlights include:
- Net income of $2,193,000 or $1.06 per basic share, up 10.04% from $1,993,000 or $0.96 per share in Q2 2023
- Total loan growth of 6.09%
- Return on average assets of 1.01%
- Return on average equity of 10.53%
- Community Bank Leverage Ratio of 10.40%
The bank's performance was driven by increased interest and fees on loans and reduced provision for credit losses. However, this was partially offset by higher interest expenses on deposits and borrowings. The Board approved a $0.20 per share quarterly dividend payable on August 16, 2024.
Bank of Botetourt (OTCPK: BORT and OTCPK: BORTP) has applied to establish a full-service branch in Roanoke, Virginia, at 2502 Melrose Ave, NW. The bank is partnering with Goodwill Industries to provide banking services at Melrose Plaza, aiming to strengthen Northwest Roanoke. The new branch will offer 24/7 ITM access, night deposits, and mortgage services through Virginia Mountain Mortgage.
This expansion underscores Bank of Botetourt's commitment to empowering the Northwest Neighborhood and promoting financial wellness. The branch will provide personalized banking services, including mortgage, commercial and agricultural lending, insurance, and wealth management solutions. With a 125-year history, Bank of Botetourt aims to become an integral part of the community, offering financial education and growth opportunities.