Welcome to our dedicated page for Bank Of The James Finl Gp news (Ticker: BOTJ), a resource for investors and traders seeking the latest updates and insights on Bank Of The James Finl Gp stock.
Bank of the James Financial Group, Inc. (NASDAQ: BOTJ) is the parent company of Bank of the James, a full-service commercial and retail bank headquartered in Lynchburg, Virginia, and Pettyjohn, Wood & White, Inc., an SEC-registered investment advisor. The company’s news flow reflects its role in community and regional banking, mortgage banking, and investment advisory services across multiple Virginia markets.
News releases for BOTJ commonly cover quarterly and annual financial results, highlighting trends in net interest income, net interest margin, interest expense, and noninterest income. These updates often discuss loan portfolio composition, including commercial real estate, construction, commercial and industrial, residential mortgage, and consumer lending, as well as deposit growth and core deposit mix. Asset quality metrics such as nonperforming loan ratios and the absence of other real estate owned are frequently reported.
Investors and followers of BOTJ can also expect corporate and governance announcements, including leadership changes and Board decisions. Recent examples include the transition of a long-serving Chief Financial Officer to a Chief Investment Officer role, the appointment of a new Chief Financial Officer, and later the retirement of a co-founder and director. The company also issues news about dividend declarations, capital management actions, and modifications to financing arrangements, such as changes to a secured promissory note used in part to finance the acquisition of its investment advisory subsidiary.
Operational updates appear in earnings releases, describing branch openings in locations like Buchanan and Nellysford, Virginia, and commenting on commercial lending demand, mortgage origination activity, and deposit expansion in markets such as Region 2000, Roanoke, Charlottesville, Harrisonburg, Lexington, Blacksburg, and Wytheville. For readers tracking BOTJ, this news page offers a centralized view of the company’s financial performance, strategic decisions, and regional banking activities over time.
Bank of the James Financial Group (BOTJ) reported a strong financial performance for 2021, with net income for Q4 at $1.86 million ($0.39 per diluted share), up from $1.71 million ($0.36) in Q4 2020. For the full year, net income reached $7.59 million ($1.60 per diluted share), significantly higher than $4.98 million ($1.04) in 2020. The results were bolstered by a 10% stock dividend declared in June 2021, indicating effective expense management and high asset quality.
Bank of the James Financial Group, Inc. (NASDAQ:BOTJ) has entered into a stock purchase agreement to acquire Pettyjohn, Wood, & White, an SEC-registered investment advisor with over $650 million in assets under management. The deal is expected to enhance BOTJ's non-interest income and strengthen its position in the financial services sector. Key executives from Pettyjohn, Wood, & White will continue their roles post-acquisition, ensuring stability for clients. This strategic acquisition aims to leverage synergies and expand BOTJ's service offerings in the Virginia market.
Bank of the James Financial Group, Inc. (BOTJ) reported strong financial results for Q3 and the first nine months of 2021. Net income surged to $1.88 million ($0.40/share) in Q3, up from $1.45 million ($0.30/share) in the same period last year. Year-to-date net income reached $5.73 million ($1.21/share), a significant rise from $3.27 million ($0.68/share) in 2020. Total deposits increased to $853.8 million, reflecting core deposit growth. The company maintained a low nonperforming loans ratio of 0.32% and did not need to provision for loan losses. A quarterly dividend of $0.07/share was declared, payable December 10, 2021.
Bank of the James Financial Group, Inc. (NASDAQ:BOTJ) has announced the promotion of Michael A. Syrek to President of the Bank, effective October 13, 2021. Syrek, who joined the Bank in 2012, has played a vital role in strengthening the Bank's commercial banking efforts and relationships in key Virginia markets. CEO Robert R. Chapman, III emphasized that this change is aimed at driving the company's growth. The separation of the Bank’s CEO and President roles will allow Chapman to focus more on the Bank's strategic plan.
Bank of the James Financial Group (NASDAQ:BOTJ) reported strong financial results for the second quarter and first half of 2021. Net income for Q2 was $2.01 million ($0.42 per diluted share), up from $821,000 ($0.17 per diluted share) in Q2 2020. YTD net income reached $3.85 million ($0.81 per diluted share), compared to $1.82 million ($0.38 per diluted share) in the same period last year. The company declared a 10% stock dividend and a quarterly cash dividend of $0.07 per share. Total deposits increased to $819.4 million, reflecting core deposit growth, while net loans declined slightly due to PPP loan paydowns.
Bank of the James Financial Group, Inc. (BOTJ) announced a 10% stock dividend, to be paid around July 9, 2021, for shareholders on record as of June 25, 2021. This means every ten shares will yield an additional share, with cash paid for any fractional shares. CEO Robert R. Chapman III highlighted the company's strong performance over the past year as a reason for the dividend declaration. The bank, headquartered in Lynchburg, Virginia, serves multiple locations in the state.
Bank of the James Financial Group (BOTJ) reported a historic net income of $1.84 million or $0.42 per diluted share for Q1 2021, a significant increase from $995,000 or $0.23 per share in Q1 2020. Total interest income was $7.37 million, down from $7.49 million a year earlier. Noninterest income rose to $2.43 million, an 11% increase, driven by mortgage processing fees. Total deposits increased to $801.2 million. The company maintained a solid asset quality with a nonperforming loans ratio of 0.32%.
Bank of the James Financial Group (NASDAQ:BOTJ) reported strong fourth quarter and full-year results for 2020, achieving net income of $1.71 million or $0.39 per share for Q4, and $4.98 million or $1.15 per share for the year. Total noninterest income surged 53% to $11 million, driven by record revenue from residential mortgage sales. Total assets increased to $851.4 million, with a strong liquidity position and a stable asset quality of 0.34% nonperforming loans. The board declared a $0.07 per share dividend, and a share repurchase program was authorized, reflecting continued commitment to maximizing shareholder value.
Bank of the James Financial Group (NASDAQ: BOTJ) reported its unaudited financial results for the third quarter and nine months ending September 30, 2020. Net income decreased to $1.45 million ($0.34 per diluted share) for Q3 2020, down from $1.47 million a year earlier. For the first nine months, net income was $3.27 million ($0.75 per diluted share), down from $4.09 million in 2019. Noninterest income rose significantly to $3.06 million in Q3 2020, largely driven by residential mortgage origination. Total deposits increased to $763.9 million, and the Company declared a $0.07 per share dividend.
Bank of the James Financial Group (BOTJ) reported Q2 2020 net income of $821,000 ($0.19/share), down from $1.38 million ($0.31/share) in Q2 2019. H1 2020 net income was $1.82 million ($0.42/share) compared to $2.61 million ($0.60/share) in H1 2019. Total loans grew to $623.56 million, fueled by $68 million in PPP loans. Total deposits rose to $746 million. Noninterest income increased to $2.8 million due to strong residential mortgage originations. The bank declared a $0.07 dividend, payable September 18, 2020, and anticipates improved loan performance post-PPP loan period.
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