Welcome to our dedicated page for Potomac Bancshares news (Ticker: PTBS), a resource for investors and traders seeking the latest updates and insights on Potomac Bancshares stock.
Potomac Bancshares, Inc. reports developments tied to its role as the bank holding company for Potomac Bank, a community bank serving markets in West Virginia, Maryland and Northern Virginia. Recurring updates cover quarterly earnings, net interest margin trends, loan and deposit activity, common-stock dividends, and branch or market expansion.
Company news also highlights Potomac Bank's commercial banking, treasury management, commercial real estate lending, residential mortgage, trust, wealth and investment services. Leadership appointments, banker hires, community partnerships and the bank's history from Bank of Charles Town to Potomac Bank are recurring parts of its public-company profile.
BCT - Bank of Charles Town (OTC: PTBS) has launched its second annual BCTCares "Pack the 'Pack" campaign, running from July 1 to August 31, 2022, aimed at raising funds for local backpack food programs supporting food-insecure children. The goal is to fill 5,000 backpacks with nutritious food, with a $5 donation providing meals for a child for a day.
CEO Alice Frazier emphasized the growing need amid inflation, urging community participation to fight hunger. The campaign collaborates with local charities to ensure the funds contribute directly to those in need.
BCT-Bank of Charles Town (OTC:PTBS) awarded the Robert "Bob" F. Baronner Jr. Memorial Scholarship to Olivia B. Grove, a Musselman High School graduate. The scholarship provides $10,000 over four years as she becomes a first-generation college student at Shepherd University. Since its inception, the Baronner Scholarship has disbursed a total of $50,000 to local students. BCT's President, Alice P. Frazier, praised Grove for her academic excellence and leadership skills. Founded in 1871, BCT has approximately $719 million in assets as of March 31, 2021.
BCT Wealth Advisors, part of Bank of Charles Town, has promoted Amber C. Owens to Wealth Administrator as of June 14, 2022. Owens, who has been with the company since 2019, will manage client portfolio processes and transactions, reporting to Leslie Crabill, Senior VP. With a Master's in Business Administration from Shepherd University, Owens is recognized for her crucial role in enhancing client experiences during market volatility. She is actively involved in diversity initiatives and contributes to her community.
BCT-The Community's Bank has appointed Ted Argleben as Vice President and Commercial Loan Officer. With over 29 years of banking experience, he aims to enhance commercial lending in Northern Virginia. Previously, Argleben spent 18 years at Access National Bank. His role will bolster BCT's commitment to personalized banking services. BCT, a subsidiary of Potomac Bancshares, has approximately $719 million in assets as of March 31, 2021, offering diverse banking products through its various offices.
BCT-Bank of Charles Town (OTC:PTBS) has appointed Stacey Metcalfe to its Loudoun County Advisory Board. Metcalfe, the Executive Director and CEO of Morven Park, brings extensive community experience from Loudoun County and Northern Virginia. The Advisory Board, comprising prominent local leaders, will provide strategic insights to BCT to improve local relationships. BCT, with approximately $719 million in assets, aims to enhance its community engagement through this new appointment.
BCT Wealth Advisors, a division of Bank of Charles Town, has appointed Emma Espinosa as Client Coordinator. Reporting to Senior VP Leslie Crabill, Espinosa will enhance client experiences from relationship management to disbursements. She has a strong academic background, graduating Summa Cum Laude from Shepherd University and serving as President of the Financial Planning Club. BCT Wealth Advisors operates across D.C., Maryland, Virginia, and West Virginia, emphasizing their commitment to client service and leadership development.
Potomac Bancshares (OTC: PTBS) reported Q1 2022 earnings of $1.669 million ($0.40/share), a decrease from $1.778 million ($0.43/share) Y-o-Y. Total assets rose 8.7% to $719.2 million, with loans up 4.8% to $523.7 million. Total deposits increased 8% to $635.6 million. Pre-tax net income excluding PPP fees was $1.872 million, a 14.2% increase Y-o-Y. ROA was 0.95%, down from 1.12%, and ROE was 11.14%, down from 12.97%. The board declared a $0.09/share dividend, a 12.5% increase. The company continues to focus on strategic investments and navigating rising interest rates.
The Board of Directors of Potomac Bancshares declared a quarterly dividend of $0.09 per share, marking a 12.5% increase from the previous $0.08. This dividend is for shareholders of record on May 3, 2022, and will be paid on May 10, 2022. President and CEO Alice P. Frazier expressed satisfaction with the company's growth and resilience. As of December 31, 2021, Potomac Bancshares holds approximately $710 million in assets. This increase reflects the company’s commitment to rewarding its investors.
Potomac Bancshares reported strong financial results for the fourth quarter and full year 2021. Net income reached $1.848 million, or $0.45 per share, compared to $1.142 million in Q4 2020. Full-year earnings stood at $7.570 million, up from $3.785 million in 2020. Total assets increased by 14.4% to $710.1 million, while total deposits rose 14.7% to $629.1 million. The company declared a $0.08 per share dividend payable on February 10, 2022. Strategic initiatives, including SBA lender approval and venture investments, contributed to this growth.
Potomac Bancshares, Inc. (OTC: PTBS) declared a quarterly dividend of $0.08 per share during its January board meeting. This dividend is applicable to shareholders recorded on February 3, 2022, and will be paid on February 10, 2022. As of September 30, 2021, the bank held approximately $701 million in assets, operating through nine branches and offering diverse banking services, including commercial and residential loans. BCT has received accolades as a top workplace and as a leading bank in Maryland.