JBTC Announces 1st Quarter 2023 Earnings

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04/28/2023 - 08:00 AM EDT

JONESTOWN, Pa., April 28, 2023 (GLOBE NEWSWIRE) -- JBT Bancorp, Inc. (JBTC) reported quarterly earnings of $1,525,000 or $0.63 per share for the first quarter of 2023 versus $1,385,000 or $0.57 per share in the prior year. President & CEO, Troy A. Peters stated: “First quarter loan growth was strong, and ahead of projections. Even with rising rates, our spread business performed well. The implementation of the new accounting standard, CECL, increased our provision expense by 144.9% over the first quarter of 2022. This was largely the result of our strong first quarter loan production.”

More information is available in the quarterly shareholder letter found on the Investors Relations tab at jbt.bank.

Contact: Andrea Shetterly, EAA
ashetterly@jbt.bank
Jonestown Bank & Trust Co.
2 West Market Street
Jonestown, PA 17038-0717
Phone: 717-865-4246