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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.
JEFFERSONVILLE, N.Y., Feb. 14, 2023 – Jeffersonville Bancorp (OTCQB - JFBC) reported a fourth quarter net income of $2,803,000 ($0.66 per share), a notable increase from $1,442,000 ($0.34 per share) in Q4 2021. Year-to-date net income reached $9,304,000 ($2.20 per share) compared to $5,944,000 ($1.40 per share) in 2021. Key contributing factors included increased loan interest, securities income, and other fees, despite rising tax expenses and a drop in net gains on securities. A cash dividend of $0.15 per share was declared, payable on March 6, 2023. The CEO highlighted that the company is well-positioned despite rising risks due to competitive pressures on deposits.
JEFFERSONVILLE, N.Y., Jan. 10, 2023 (GLOBE NEWSWIRE) -- Jeffersonville Bancorp (OTCQB - JFBC) has declared a special cash dividend of $0.10 per share on common stock, effective January 31, 2023, for stockholders on record as of January 24, 2023. The company's strong performance in 2022 was driven by solid loan growth and favorable funding costs, enhanced by Federal Reserve rate hikes. President and CEO George W. Kinne, Jr. expressed confidence in rewarding shareholders due to the positive results and robust capital position.
JEFFERSONVILLE, N.Y., Nov. 08, 2022 (GLOBE NEWSWIRE) -- Jeffersonville Bancorp reported Q2 net income of $2,680,000 or $0.63 per share, up from $1,453,000 or $0.34 per share in Q2 2021. Year-to-date net income as of September 30, 2022, reached $6,501,000, or $1.53 per share, compared to $4,502,000 or $1.06 per share in 2021. Key factors include increased securities interest and dividends, alongside decreased salary expense, despite a rise in tax expenses. A cash dividend of $0.15 per share was declared, payable December 2, 2022.
Jeffersonville Bancorp, Inc. (OTCQB - JFBC) reported a strong second quarter net income of $2,031,000 or $0.48 per share, up from $1,735,000 or $0.41 per share in 2021, reflecting a $296,000 increase. Year-to-date net income reached $3,821,000 or $0.90 per share, compared to $3,049,000 or $0.72 per share in 2021, driven by higher securities interest and dividends. A cash dividend of $0.15 per share was declared for September 1, 2022.
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