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Bank of the James Financial Group, Inc. reports developments for a Virginia bank holding company whose primary subsidiaries are Bank of the James, a full-service commercial and retail bank, and Pettyjohn, Wood & White, Inc., an SEC-registered investment advisor. The company serves the greater Lynchburg area and other Virginia markets through community banking, mortgage banking, and investment advisory services.
Recurring news includes quarterly and annual operating results, net interest income, loan growth, deposit costs, asset quality, mortgage originations, wealth management fees, commercial treasury services, dividends, and board or executive leadership changes. Updates also describe the balance between interest income from commercial and retail lending and noninterest income from mortgage sales, advisory fees, card activity, and service charges.
Bank of the James (NASDAQ:BOTJ) reported first quarter 2026 net income of $2.77 million ($0.61 per share), versus $842,000 a year earlier. Total assets were $1.06 billion and total deposits were $956.55 million at March 31, 2026.
Highlights include net interest income of $8.73 million, net interest margin of 3.57%, an efficiency ratio improvement to 73.75%, and a quarterly dividend of $0.10 per share payable June 5, 2026 to holders of record May 22, 2026.
Bank of the James (NASDAQ:BOTJ) reported record 2025 net income of $9.02 million, up 13.6% from 2024, and EPS of $1.99. Total assets surpassed $1.04 billion, loans net were $661.36 million, and total deposits reached $937.13 million. Net interest income rose 12.2% to $32.81 million and net interest margin improved to 3.39% for the year. Stockholders' equity increased 23.4% to $80.05 million and efficiency ratio improved to 77.17%.
Bank of the James Financial Group (NASDAQ: BOTJ) announced the retirement of co-founder and director J. Todd Scruggs, effective January 5, 2026.
Mr. Scruggs co-founded the bank in 1998, served as CFO through 2025, and most recently was executive vice president and chief investment officer, secretary and treasurer. He helped recruit the initial board and raise the bank's $10 million starting capital, guiding growth to over $1 billion in assets and more than 20 Virginia locations. Management says Scruggs completed a seamless transition of CFO duties and will continue to provide institutional knowledge.
Bank of the James (NASDAQ:BOTJ) announced executive changes effective Oct 30, 2025: J. Todd Scruggs will move from Chief Financial Officer to Chief Investment Officer, and Eric J. Sorenson, Jr. will be appointed Chief Financial Officer. The company cited goals of improved oversight, clearer separation of investment and financial responsibilities, and strengthened governance.
The release highlights Sorenson’s >25 years advising the bank and his >3 years as general counsel, and describes Scruggs as having a long track record managing capital and risk. Management said the two executives will work closely during the transition to maintain continuity.
Bank of the James (NASDAQ:BOTJ) reported record quarterly earnings for Q3 2025 with strong margin expansion, loan growth, and exceptional asset quality. EPS was $0.61 for Q3 and $1.39 for the first nine months. Net interest income rose 10.5% in Q3 to $8.30M and 12.6% YTD to $24.27M. Net interest margin expanded to 3.44% in Q3 2025 from 3.16% a year earlier.
Loans (net) increased to $653.29M, deposits to $919.80M, and stockholders’ equity to $76.97M at September 30, 2025. Asset quality remained strong with nonperforming loans at 0.29%. The board declared a quarterly dividend of $0.10 per share payable Dec 5, 2025.
Bank of the James Financial Group (NASDAQ:BOTJ) reported strong Q2 2025 financial results, with net income of $2.70 million ($0.60 per share), up from $2.15 million in Q2 2024. The bank demonstrated improved performance with net interest margin rising to 3.45% and total assets reaching $1.004 billion.
Key highlights include a 6% increase in total interest income to $11.64 million, strong loan growth with net loans of $649.09 million, and exceptional asset quality with nonperforming loans ratio at just 0.28%. The company successfully retired $10 million in capital notes, which is expected to reduce annual interest expense by $327,000.
The board approved a quarterly dividend of $0.10 per share, payable September 26, 2025, while book value per share increased to $15.77 from $14.28 at year-end 2024.
Bank of the James (NASDAQ:BOTJ) reported strong Q2 2025 financial results, with net income of $2.70 million ($0.60 per share), up from $2.15 million ($0.47 per share) in Q2 2024. The bank demonstrated robust performance with net interest margin rising to 3.45% and total assets reaching $1.04 billion.
Key highlights include a 6% increase in total interest income to $11.64 million, strong asset quality with nonperforming loans ratio at 0.28%, and the retirement of $10 million in capital notes. The company declared a quarterly dividend of $0.10 per share. Commercial real estate loans grew to $355.67 million, while maintaining high asset quality and strong capital position with a Tier 1 leverage ratio of 8.85%.
[ "Net income increased 26% to $2.70 million in Q2 2025 from $2.15 million in Q2 2024", "Net interest margin improved to 3.45% from 3.02% year-over-year", "Total interest income rose 6% to $11.64 million in Q2 2025", "Interest expense declined 12% in Q2 2025 compared to Q2 2024", "Successfully retired $10 million in capital notes, expected to reduce annual interest expense by $327,000", "Strong asset quality with nonperforming loans ratio of only 0.28%", "Book value per share increased to $15.77 from $14.28 at year-end 2024" ]Bank of the James reported Q1 2025 financial results with net income of $842,000 ($0.19 per share), down from $2.19 million ($0.48 per share) in Q1 2024. Total interest income rose 6.90% to $11.23 million, while net interest margin improved to 3.25%.
Key highlights include:
- Total assets grew to $1.01 billion
- Loans increased to $642.39 million
- Commercial real estate loans expanded to $359.76 million
- Strong asset quality with only 0.28% nonperforming loans ratio
- Book value per share rose to $15.04
The bank maintained strong liquidity and announced plans to pay off $10 million in capital notes in June 2025. A one-time consulting expense impacted earnings, but the resulting core provider contract is expected to save up to $5 million over 65 months. The board approved a $0.10 quarterly dividend payable June 20, 2025.
Bank of the James Financial Group (NASDAQ:BOTJ) reported Q4 2024 net income of $1.62 million ($0.36 per share), down from $2.11 million ($0.45 per share) in Q4 2023. Full-year 2024 net income was $7.94 million ($1.75 per share) compared to $8.70 million ($1.91 per share) in 2023.
Key highlights include: 6% loan growth to $636.55 million, 9% increase in commercial real estate loans to $335.53 million, and total deposits growth to $882.40 million. Net interest margin improved to 3.18% in Q4 2024, showing an upward trend from previous quarters. Total interest income rose 13% to $44.64 million for 2024.
Asset quality remained strong with nonperforming loans at 0.25% of total loans. Stockholders' equity grew 8% year-over-year, with book value per share increasing to $14.28. The board approved a quarterly dividend of $0.10 per share, payable March 21, 2025.
Bank of the James Financial Group (NASDAQ:BOTJ) reported Q3 2024 net income of $1.99 million ($0.44 per share), compared to $2.08 million ($0.46 per share) in Q3 2023. For the nine months ended September 30, 2024, net income was $6.33 million ($1.39 per share) versus $6.60 million ($1.44 per share) in 2023. Total assets surpassed $1 billion, with loans growing to $627.11 million. The company maintained strong asset quality with a 0.20% ratio of nonperforming loans to total loans. Total deposits increased to $907.61 million, and book value per share rose to $15.15. The board approved a quarterly dividend of $0.10 per share.