JBTC Announces 3rd Quarter 2022 Earnings

Rhea-AI Summary

JBT Bancorp, Inc. (JBTC) reported year-to-date earnings of $5,833,000 as of September 30, 2022, marking a 21.02% increase from $4,820,000 in the previous year. Earnings per share rose to $2.40, up 21.21% from $1.98 in 2021. The company highlighted strong loan growth and net interest income as key contributors to this performance. However, President & CEO Troy A. Peters cautioned that anticipated rate increases might exert pressure on margins in the upcoming fourth quarter.

AI-generated analysis. Not financial advice.

Positive

• Year-to-date earnings increased by 21.02% to $5,833,000.
• Earnings per share rose by 21.21% to $2.40.
• Strong net interest income contributed positively to earnings.
• Notable loan growth despite rising interest rates.

Negative

• Expected pressure on margins due to anticipated rate increases and reduced liquidity.

News Market Reaction – JBTC

+5.39%

1 alert

+5.39% News Effect

On the day this news was published, JBTC gained 5.39%, reflecting a notable positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

JONESTOWN, Pa., Oct. 14, 2022 (GLOBE NEWSWIRE) -- JBT Bancorp, Inc. (JBTC) reported year-to-date earnings of $5,833,000 as of September 30, 2022. This is up 21.02% from $4,820,000 in the prior year.   Earnings per share were $2.40, up 21.21% from $1.98 in 2021. “We have been very pleased with our loan growth this year, particularly as rates have risen. Our earnings have been positively influenced by our strong net interest income performance. We are anticipating further rate increases and given the reduction of liquidity on many bank balance sheets, we expect greater pressure on our margin in the fourth quarter.” said President & CEO, Troy A. Peters.

More information is available in the quarterly shareholder letter found on the Investors Relations tab of 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

FAQ

What are the latest earnings for JBT Bancorp, Inc. (JBTC)?

JBT Bancorp reported year-to-date earnings of $5,833,000, a 21.02% increase from the prior year.

What is the earnings per share (EPS) for JBTC?

The earnings per share for JBT Bancorp as of September 30, 2022, is $2.40, up 21.21% from $1.98 in 2021.

How is JBTC's loan growth affecting its financial performance?

JBT Bancorp reported strong loan growth positively impacting their earnings.

What challenges is JBTC anticipating in the fourth quarter?

JBT Bancorp anticipates greater pressure on margins due to expected rate increases and reduced liquidity.