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 Investments, a division of Bank of Charles Town, announced the addition of three experienced investment representatives, enhancing their wealth management services. The new team members include Dave Neterer, Ken Smith, and Evan Vink. With over 27 and 26 years of financial services experience respectively, their expertise aims to improve client engagement and investment strategies. This expansion is expected to provide greater access to knowledgeable financial advice for clients across D.C., Maryland, Virginia, and West Virginia.
BCT - Bank of Charles Town (OTC:PTBS) has launched a fundraising initiative named "Pack the 'Pack" to support local food programs for food-insecure children, aiming to fill 5,000 take-home backpacks. The campaign runs from July 1, 2021, to August 31, 2021, accepting donations both at branches and online. $5 will provide food for one child. BCTCares partners with local charities to purchase and distribute food. Founded in 1871, BCT manages approximately $661 million in assets and provides a variety of banking services.
BCT-Bank of Charles Town (OTC: PTBS) has appointed Susan Mitchell to its Advisory Board for Loudoun County, Virginia. The board, consisting of local leaders, aims to provide strategic insights focusing on the region's markets. Mitchell, co-founder of Guardians of Honor, brings over 20 years of experience in grants management and consulting. Her government sector connections are expected to enhance BCT's government contracting business. BCT operates with $661 million in assets and offers various banking products across several states.
Summary not available.
BCT-Bank of Charles Town (OTC:PTBS) has expanded its commercial lending operations by appointing a new team dedicated to Small Business Administration (SBA) lending programs. The team, comprised of experienced professionals from Sonabank, includes Michelle R. Douglas, Teri L. Tosti, and Kate Ryan. This initiative aims to enhance BCT's capabilities in serving small businesses across DC, Maryland, Virginia, and West Virginia. The new SBA lending offerings will support various financing solutions including loans up to $5 million.
Potomac Bancshares (OTC: PTBS) reported Q1 2021 earnings of $1.778 million ($0.43/share), up 147.3% from $0.719 million ($0.17/share) in Q1 2020. Total assets grew 22.3% to $661.4 million, with loans increasing by 19.4% to $499.8 million. Deposits rose by 25.2% to $591.5 million. The net interest margin decreased to 3.22% from 3.41% YoY. Non-interest income increased by 24.1% to $1.6 million. The company declared a $0.08/share dividend, an increase of 14.3%. The allowance for loan losses was 1.08%, indicating caution amid ongoing economic challenges.
Potomac Bancshares, Inc. (OTC: PTBS) has declared a quarterly dividend of $0.08 per share, marking a 14.3% increase from the previous $0.07 dividend. This dividend will be available to shareholders recorded on May 4, 2021, and paid on May 11, 2021. The company highlights strong growth in balance sheet and profitability over the past year. With around $621 million in assets as of December 31, 2020, Potomac Bancshares remains committed to serving its customers and communities.
Summary not available.
Potomac Bancshares reported strong financial results for Q4 and the full year 2020. The company achieved net income of $1.142 million ($0.28/share) for Q4 2020, a 33.3% increase over Q4 2019, and $3.785 million ($0.92/share) for the full year, up 17.9% year-over-year. Total assets rose to $620.7 million, a 20.3% increase, while total loans grew to $494 million, a 19.8% rise. Notably, non-performing assets decreased to 0.02%, and the company declared a $0.07 per share dividend. Management indicates they are focused on growth despite the economic challenges posed by the pandemic.
Potomac Bancshares, Inc. (OTC: PTBS) has announced the successful closing of a $10 million private placement of subordinated notes due 2030. President and CEO Alice P. Frazier emphasized the positive response from investors, reinforcing their business strategy. The notes carry a 5.00% interest rate for the first five years and will qualify as Tier 2 capital. Proceeds will be utilized for general corporate purposes, supporting growth in new markets and expanded business lines.