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. (PTBS) is the holding company for Potomac Bank, a long-established community bank founded in 1871 as Bank of Charles Town. The PTBS news feed on Stock Titan aggregates company-issued press releases and third-party coverage related to its commercial banking, residential lending, trust and wealth services, and corporate activities across West Virginia, Maryland, and Virginia.
Investors and followers of PTBS can use this page to review news about earnings results, dividend declarations, and capital actions such as stock repurchase authorizations. The company regularly reports quarterly financial performance, including net income, return on assets, return on equity, and asset quality metrics, providing insight into its community banking operations and balance sheet trends.
News items also highlight strategic developments at the bank level, including the transition from the Bank of Charles Town and BCT branding to the unified Potomac Bank name, as well as expansion and activity in key regional markets. Coverage includes updates on the SBA Preferred Lender program, commercial and mortgage lending activity, and the work of the Trust and Wealth division serving business owners, families, and individuals.
In addition, the PTBS news stream features governance and leadership updates, such as appointments to the Board of Directors and senior roles within Trust and Wealth, and community engagement stories involving the BCTCares Foundation and local recognition through readers’ polls like Loudoun’s Favorite and Best of the Best. Users can return to this page to monitor new announcements that may be relevant to understanding Potomac Bancshares’ operations, regional presence, and shareholder-related decisions.
BCT-Bank of Charles Town (OTC: PTBS) has appointed Ronald B. Burley as Executive Vice President and Chief Retail Banking Officer. Burley brings over 23 years of banking experience, previously managing operations for 200+ branches in Mid-Atlantic markets. He holds an MBA from Salisbury University and a BS in Economics from Drexel University. As part of the executive team, he will oversee retail banking sales and operations, leveraging his experience in sales leadership, retail operations, and M&A to support the bank's strategic growth plans while maintaining positive client experiences.
BCT-Bank of Charles Town (OTC:PTBS) has been named a '2024 Best Banks to Work For' by American Banker, marking its fifth recognition in six years. The program, established in 2013 by American Banker and Best Companies Group, evaluates U.S. banks based on employee satisfaction through comprehensive surveys and organizational assessment.
The selection criteria emphasize engaged leadership, strong corporate culture, job training opportunities, and employee benefits including volunteer time off and appreciation events. Banks ranging from 52 to 5,200 employees were eligible for consideration.
President and CEO Alice P. Frazier highlighted the company's commitment to creating an exceptional employee experience, noting that employee feedback provides valuable insights for continuous workplace improvement.
Potomac Bancshares (OTC: PTBS) reported Q3 2024 earnings of $1.761 million ($0.42 per share), compared to $1.729 million ($0.42 per share) in Q3 2023. Total assets reached $871.4 million, up 7.6% year-over-year. Key highlights include: 20% growth in wealth management assets, stable net interest margin at 3.21%, and loan growth of $22.4 million (3.4%) in Q3. The company declared a quarterly dividend of $0.12 per share. Year-to-date net income was $4.857 million ($1.17 per share), down from $5.554 million ($1.34 per share) in the same period of 2023.
BCT Residential Lending expands into Fairfax County, Virginia with the addition of The Richardson Team. The team consists of Jay Richardson (Vice President), Sebastian Bonilla (Mortgage Lender), and JeNise Colbert (Mortgage Processor). This strategic expansion strengthens BCT's presence in the Northern Virginia market. Jay Richardson brings 20+ years of mortgage experience and ranks among top 200 lenders. Sebastian Bonilla specializes in serving the Hispanic community with 6 years of banking experience, while JeNise Colbert contributes 11 years of mortgage lending expertise.
Potomac Bancshares, Inc. (OTC:PTBS), the one bank holding company for Bank of Charles Town (BCT), has announced a quarterly dividend declaration. The Board of Directors made this decision during their October meeting. Shareholders of record on November 1, 2024, will receive a dividend of $0.12 per share, which is scheduled for payment on November 8, 2024. BCT, also known as The Community's Bank, continues its tradition of providing returns to its shareholders through this quarterly dividend payout.
The BCTCares Foundation, a nonprofit founded by employees of BCT-Bank of Charles Town (OTC:PTBS), has raised a record $90,000 through its annual Pack The 'Pack program. This year's fundraising effort, conducted from July 1 to August 31, 2024, brings the foundation's total donations to $405,000 since inception, targeting local food-insecurity.
The funds will be equally distributed among four local backpack food charities, with each receiving $22,500. This donation will enable the filling of over 15,000 backpacks with enough food for two days per child. The campaign received contributions from bank clients, vendors, employees, Board of Directors, and community members across Maryland, Virginia, and West Virginia.
Alice P. Frazier, President and CEO of BCT, expressed pride in the team's efforts and the community's generosity. The partner charities include Berkeley County Backpack Program, Community Combined Ministries – Kidz Power Pacs, HARC/Micah's Backpack, and Fueled (formerly Loudoun Backpack Coalition).
Potomac Bancshares, Inc. (OTC: PTBS) reported Q2 2024 earnings of $1.421 million or $0.34 per share, compared to $1.783 million or $0.43 per share in Q2 2023. The quarter included an after-tax loss of $300,000 from investment security sales. Excluding this loss, Q2 2024 earnings would have been $1.721 million or $0.42 per share. For the first half of 2024, net income was $3.096 million or $0.75 per share.
Key highlights include:
- Assets decreased by 2.7% to $832.5 million
- Loan growth of 1.3% for the quarter
- Deposits decreased by 3.0%
- Net interest margin improved to 3.21%
- Allowance for credit losses at 1.04% of total loans
- Non-performing assets at 0.36% of total assets
The company declared a quarterly dividend of $0.12 per share, payable on August 12, 2024.
BCT-Bank of Charles Town (OTC:PTBS), known as The Community's Bank in Northern Virginia and Washington, DC, has been voted the 2024 'Loudoun's Favorite' winner in four financial services categories: Bank, Mortgage Company, Banker (Alice Frazier), and Financial Planner (Mary Szabat). The bank was also voted runner-up for Mortgage Broker (Steve Cowen).
The annual readers' poll, conducted by LoudounNow, a local newspaper serving Loudoun County, Virginia, allows readers to vote for their favorite people, places, and businesses in over 200 categories. BCT President and CEO Alice P. Frazier expressed gratitude for the recognition, attributing it to the bank's employees and their commitment to fostering relationships that simplify clients' financial lives.
This approach has been central to BCT's philosophy for over 153 years, reflecting the bank's long-standing commitment to community service and client satisfaction in the region.
Potomac Bancshares, Inc. (OTC:PTBS), the holding company for Bank of Charles Town (BCT), has announced a quarterly dividend of $0.12 per share. This decision was made by the Board of Directors at their July meeting. The dividend will be paid on August 12, 2024, to shareholders of record as of August 5, 2024. BCT, also known as The Community's Bank, continues its tradition of rewarding shareholders through consistent dividend payments.
BCTCares Foundation, founded by BCT-Bank of Charles Town and its employees, has launched the annual Pack the 'Pack funding campaign under its BCTCares For The Hungry initiative. The campaign aims to support local backpack food programs for food-insecure children by raising funds to fill 5,000 take-home backpacks. Fundraising runs from July 1 to August 31, 2024, with monetary donations accepted at all BCT branches and online. A $15 donation can feed one child for two days. The campaign partners with four local food charities: Berkeley County Backpack Program, Community Combined Ministries, HARC/Micah's Backpack, and Fueled. For more information or to donate, visit BCT's website.