JBT Bancorp, Inc. reports recurring updates as the bank holding company for Jonestown Bank & Trust Co., with news centered on quarterly earnings, per-share results, dividend declarations and balance-sheet growth. Company releases commonly discuss net interest income, margin performance, credit loss expense, core deposits, loan growth, liquidity and non-interest income sources such as mortgage banking and debit card interchange.
JBTC news also includes corporate governance developments for the holding company and its bank subsidiary, including board appointments and related leadership updates.
JBT Bancorp, Inc. (OTCQX: JBTC) has reported its second quarter 2024 earnings, with quarterly earnings of $2,167,000 or $0.89 per share. The company's six-month earnings reached $3,474,000 or $1.43 per share, marking a 2.36% increase from the previous year's $3,394,000 or $1.39 per share. President & CEO Troy A. Peters attributed the earnings growth to effective management of net interest income amid rising funding costs. This performance demonstrates JBTC's ability to navigate challenging financial environments and maintain positive earnings momentum.
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JBT Bancorp, Inc. (JBTC) reported strong financial performance for 2022, showing unaudited earnings of $8,060,000, a 25.2% increase from $6,436,000 in 2021, with earnings per share rising from $2.65 to $3.31.
The company’s wholly owned subsidiary, Jonestown Bank & Trust Co., achieved a 12.6% growth in net loans and a 10.6% increase in net interest income year-over-year. The bank excelled in gathering non-interest-bearing deposits and saw growth in its cannabis-related business, contributing positively to profitability. Credit quality remains excellent, positioning the balance sheet well for future challenges.
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.
JBT Bancorp, Inc. (JBTC) announced six-month earnings of $3,293,000, representing a 4.24% increase from $3,159,000 the previous year. Earnings per share (EPS) grew by 3.85%, rising from $1.30 to $1.35. The increase in earnings is attributed to a favorable net interest income and strong loan growth, alongside rising deposit levels. The company maintained a solid net interest margin despite a challenging rate environment. Additionally, a new JBT mobile application was introduced, enhancing client experience.