Jeffersonvi Ord Stock Price, News & Analysis

Jeffersonville Bancorp (OTCQB: JFBC) announced the retirement of Rhonda L. Decker, Senior Vice President/Retail Banking Administrator and Security Officer of Jeff Bank, effective March 17, 2025. Decker's retirement marks the end of a 41-year career with the institution, where she started as a teller in 1983 before being appointed to her current role in 2008.

President and CEO George W. Kinne, Jr. acknowledged Decker's contributions to the bank's growth and her commitment to community service. Jeff Bank, a wholly-owned subsidiary of Jeffersonville Bancorp, operates ten full-service branches across Sullivan and Orange County, New York.

Jeffersonville Bancorp (OTCQB: JFBC) reported record annual earnings of $11.33 million ($2.68 per share) for 2024, up from $11.18 million ($2.64 per share) in 2023. The increase was driven by higher loan interest and fees (+$1.68 million) and unrealized security gains (+$184,000), partially offset by decreased securities interest (-$591,000), higher interest expenses (+$575,000), and increased non-interest expenses (+$903,000).

Fourth quarter earnings reached $2.65 million ($0.63 per share), compared to $2.35 million ($0.56 per share) in Q4 2023. The company achieved the third-highest ROA among publicly traded banks in New York State and maintained a strong leverage capital ratio of 13.87%. The Board declared a quarterly dividend of $0.15 per share, payable March 5, 2025.

Jeffersonville Bancorp (OTCQB: JFBC) has declared a special cash dividend of $0.25 per share on January 14, 2025. The dividend will be paid on February 5, 2025, to stockholders of record as of January 29, 2025.

The company attributes its exceptional 2024 performance to higher loan interest income, solid credit quality, and low core funding costs. According to CEO George W. Kinne, Jr., these peer-leading results have enabled significant capital accumulation, allowing the board to reward loyal shareholders with this special dividend.

Jeffersonville Bancorp operates as a one-bank holding company owning Jeff Bank, which maintains ten full-service branches across Sullivan and Orange County, New York.

Jeffersonville Bancorp reported Q3 2024 net income of $3,092,000 ($0.73 per share), up from $2,972,000 ($0.70 per share) in Q3 2023. The increase was mainly due to higher loan interest and fees of $397,000, partially offset by increased salaries and benefits. Year-to-date net income was $8,676,000 ($2.05 per share), slightly down from $8,828,000 ($2.08 per share) in 2023. The company declared a quarterly dividend of $0.15 per share, payable December 6, 2024. Management highlighted maintained favorable net interest margins and plans to reduce high-rate wholesale funding following Federal Reserve rate cuts.

Jeffersonville Bancorp (OTCQB: JFBC) announced the resignation of Director Philip Coombe, III from the boards of Jeffersonville Bancorp and its subsidiary, Jeff Bank, effective immediately. Coombe, who joined the board in 2012, served on all Jeff Bank committees and was the standing Chairman of the Asset and Liability and Compliance Committees. He is stepping down due to expanding business and professional obligations.

George W. Kinne, Jr., President and CEO, expressed gratitude for Coombe's dedication and support over the past 12 years. Jeffersonville Bancorp is a one-bank holding company that owns all capital stock of Jeff Bank, which operates ten full-service branches in Sullivan and Orange County, New York.

Jeffersonville Bancorp (OTCQB: JFBC) reported second quarter net income of $3,031,000 or $0.72 per share, down from $3,196,000 or $0.75 per share in Q2 2023. The decrease was mainly due to increased provision expense, interest expense, and salaries. Year-to-date net income as of June 30, 2024, was $5,584,000 or $1.32 per share, compared to $5,856,000 or $1.38 per share in 2023. Despite challenges, the company maintained stable net interest income, with higher loan rates offsetting increased interest expenses. The bank's low-cost deposit base and strong liquidity position it favorably among peers. A cash dividend of $0.15 per share was declared, payable on September 6, 2024.

Jeffersonville Bancorp (OTCQB: JFBC) reported first-quarter net income of $2,553,000 or $0.60 per share for 2024, down from $2,660,000 or $0.63 per share in Q1 2023. The $107,000 decrease was due to rises in various expenses, including interest expense ($743,000), credit loss provision ($288,000), and salaries ($132,000). Offsetting these were increases in non-interest income ($481,000), loan interest and fees ($450,000), and other interest income ($254,000), along with a $31,000 reduction in tax expenses. Despite the challenges, CEO George W. Kinne, Jr. emphasized the company's stable balance sheet and favorable earnings relative to peers. The board declared a dividend of $0.15 per share, payable on June 6, 2024, to shareholders of record as of May 28, 2024.