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.
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Jefferson Security Bank (OTCPK: JFWV) announced a semi-annual dividend of $1.15 per share, payable on March 10, 2023, to shareholders of record on February 28, 2023. This marks an increase of $0.05 from the previous dividend of $1.10 per share paid in September 2022. President and CEO Cindy Kitner highlighted the bank's achievement of a fifth consecutive year of record earnings despite economic challenges. The focus remains on strong capital management and providing value to shareholders.
Jefferson Security Bank (OTCPK: JFWV) announced its 2022 financial results, achieving record earnings for the fifth consecutive year. Q4 net income rose to $1.3 million, a 44.82% increase from Q4 2021, while annual net income grew to $3.9 million, up 8.01%. Basic earnings per share increased from $3.36 in Q4 2021 to $4.86 in Q4 2022, reaching $14.01 for the year. Net interest income for 2022 totaled $13.0 million, a 14.91% increase. Total assets rose by 8.07% to $461.2 million, driven by a 24.28% rise in loans. However, book value per share declined from $119.52 to $81.64 due to unrealized losses in the investment portfolio.
Jefferson Security Bank (OTCPK: JFWV) reported net income of $898 thousand for Q3 2022, a 4.1% increase from $863 thousand in Q3 2021. Basic earnings per share rose to $3.26 from $3.13. However, net income for the first nine months declined by $128 thousand to $2.5 million, with earnings per share at $9.15, down from $9.58 in 2021. Total assets increased by $16.9 million to $454.7 million, while loans grew by 20.2%, indicating robust growth despite rising expenses.
Jefferson Security Bank (OTC Pink: JFWV) announces a semi-annual dividend of $1.10 per share, approved by the Board on August 18, 2022. The dividend will be paid on September 9, 2022, to shareholders of record on August 31, 2022. This results in an annual dividend of $2.20 per share for 2022, marking a 7.3% increase from $2.05 in 2021. CEO Cindy Kitner emphasizes the bank’s commitment to enhancing shareholder value while managing capital prudently amidst economic conditions.
Jefferson Security Bank (OTC Pink: JFWV) reported a net income of $833 thousand for Q2 2022, down $173 thousand or 17.2% from Q2 2021. Diluted EPS decreased to $3.02 from $3.65. For the first six months, net income was $1.6 million, a decline of $164 thousand or 9.2%. Provision for loan losses was $140 thousand in Q2 due to strong loan growth. Total assets rose $34.6 million to $448.9 million. However, total equity fell to $20.0 million due to market interest rate impacts, with book value per share down to $72.71.
Jefferson Security Bank (OTC Pink: JFWV) announced the election of new independent directors, Archibald R. Hoxton IV and Kelvin L. Upson. Hoxton brings 30 years of financial planning experience and previously worked with Goldman Sachs PFM. Upson, a Senior Cybersecurity Professional, has extensive military and engineering expertise. The Chair of the Board expressed confidence that their diverse skills will enhance strategic guidance and shareholder value, reinforcing the bank's commitment to strong performance amidst evolving market conditions.
Jefferson Security Bank (OTC Pink: JFWV) reported a net income of $791 thousand for Q1 2022, up from $782 thousand in Q1 2021. Basic and diluted earnings per share increased to $2.87 from $2.81. The bank's total assets rose to $437.9 million, while loans increased to $253.2 million. Total deposits reached $410.4 million, up from $363.8 million a year earlier. However, total shareholder’s equity decreased to $24.2 million due to unrealized losses in the investment portfolio.
Jefferson Security Bank (OTC Pink: JFWV) announced a semi-annual dividend of $1.10 per share, an increase of $0.05 from last year's $1.05. This dividend, payable on March 11, 2022, rewards shareholders of record on March 1, 2022. CEO Cindy Kitner highlighted the bank's profitability and commitment to shareholder value as reasons for the increase, reflecting the bank's continued success in the financial sector of West Virginia and Maryland.
Jefferson Security Bank (OTC Pink: JFWV) reported a robust fourth quarter of 2021, with net income reaching $926 thousand, a 6.3% increase from $871 thousand in Q4 2020. Full-year net income grew to $3.6 million, up 24.4% from $2.9 million in 2020. Basic earnings per share rose from $10.30 to $12.93. Total assets increased by 12.1% to $426.8 million, driven by strong loan and deposit growth. The bank maintains a focus on long-term value for shareholders.