JSB Financial Inc. (JFWV) is the OTC Pink-traded holding company for Jefferson Security Bank, an independent community bank founded in 1869. The bank operates six offices in Berkeley County and Jefferson County, West Virginia, and Washington County, Maryland, serving individuals, businesses, municipalities and community organizations.
This news page aggregates company-issued updates and press releases about JSB Financial Inc. and Jefferson Security Bank. Readers can review quarterly and annual earnings announcements, which discuss trends in net income, net interest income, net interest margin, loan growth, deposit mix, liquidity and regulatory capital ratios. These releases also provide detail on asset quality metrics such as nonaccrual loans, past dues, charge-offs and the allowance for credit losses.
In addition to financial results, JSB Financial Inc. regularly announces semi-annual cash dividends on its common stock, including changes in the annual dividend per share. The company also issues news about leadership developments, such as executive promotions and board appointments, reflecting changes in its management and governance structure.
Because Jefferson Security Bank identifies itself as the oldest independent, locally owned and managed bank in West Virginia and notes recognition by American Banker magazine as a Top 100 and previously Top 200 Community Bank, its news flow offers insight into how a long-established community bank manages growth, capital and risk. Investors and community stakeholders can use this page to follow the company’s reported performance, dividend decisions and organizational updates over time.
JSB Financial (OTCPink: JFWV) reported Q3 2024 net income of $2.0 million, up from $643,000 in Q3 2023. The results include a $1.3 million interest recovery and $252,000 credit loss allowance recovery. Earnings per share reached $7.64 in Q3 2024, compared to $2.33 in Q3 2023. For the first nine months of 2024, net income totaled $3.4 million with EPS of $13.33. Total assets grew to $577.3 million, up 15.3% from year-end 2023. Total deposits increased to $514.7 million, representing a 20.8% rise. The company maintained strong credit quality with nonaccrual loans at just 0.01% of total loans.
JSB Financial Inc. (OTC Pink: JFWV) announced that Karl J. 'Jeff' Keller, Executive Vice President of Lending, will retire on September 13, 2024, after 31 years of service. Keller will be appointed to the Boards of Directors of both JSB Financial Inc. and Jefferson Security Bank immediately following his retirement. During his tenure, Keller played a important role in the bank's growth, with the loan portfolio expanding from $37 million in 1987 to $374 million as of June 30, 2024. Keller's 38-year career in banking and community leadership roles has been marked by his focus on maintaining prudent underwriting standards and serving as a trusted advisor to customers.
JSB Financial Inc. (OTCPink: JFWV), the holding company of Jefferson Security Bank, has declared a semi-annual dividend of $1.20 per share. The cash dividend will be paid on September 13, 2024 to shareholders of record on September 2, 2024. This dividend maintains consistency with the previous semi-annual payout and brings the total annual dividend for 2024 to $2.40 per share. Notably, this represents a 4.3% increase from the 2023 annual dividend of $2.30 per share, demonstrating the company's commitment to shareholder returns and financial stability.
JSB Financial Inc. (OTC PINK: JFWV) reported Q2 2024 results with net income of $793,000, down 1.74% from Q2 2023. For H1 2024, net income decreased 13.4% to $1.5 million. Net interest income for H1 2024 increased 4.2% to $6.4 million. The company achieved record-level loans of $374.0 million as of June 30, 2024, up 7.5% from December 31, 2023. Total deposits grew 10.0% to $468.6 million. Asset quality remained strong with nonaccrual loans at 0.01% of total loans. The allowance for credit losses was 1.07% of total loans. On August 8, 2024, the company received payment on prior nonperforming loans, resulting in a $1.3 million interest recovery.
JSB Financial (OTCPK: JFWV) reported a net income of $671 thousand for Q1 2024, a decrease of 24.2% from $885 thousand in Q1 2023. Earnings per share dropped to $2.61 from $3.21. The annualized return on assets and equity also declined to 0.53% and 10.75%, respectively. However, the company saw improvements in net interest income, which increased by 1.3% to $3.2 million, and book value per share, which rose to $97.40. Total assets grew by 6.1% to $531.2 million. Deposits and loans surged by $32.0 million and $18.3 million, respectively. Non-performing loans remained minimal, though past due loans increased. Regulatory capital ratios declined slightly due to organic loan growth and increased assets.
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