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SVB&T Corporation is the OTCQX-traded parent company of Springs Valley Bank & Trust Company, a full-service banking institution serving counties in southern Indiana. Company news centers on unaudited quarterly and annual earnings, earnings per share, return on average assets, and board-declared cash dividends on common stock.
Recurring updates also describe Springs Valley's deposit accounts, certificates of deposit, electronic banking, consumer and mortgage applications, loan offerings, trust services, financial advisory work, estate and tax planning, wealth management, and investment services. Banking-related disclosures frequently address mortgage conditions, servicing fees, provision expense, funding costs, local real estate trends, interest rates, capital markets, competition, and regulatory conditions.
SVB&T Corporation (OTCQX:SVBT) reported unaudited Q4 2021 earnings of $1.22 million, or $2.20 EPS, reflecting an 8.71% decline year-over-year. The return on average assets (ROAA) fell to 0.98% from 1.10%. Net interest income remained stable at $4.73 million, while noninterest income decreased to $1.98 million. Year-to-date earnings reached a record $7.38 million, with an EPS of $13.36, up 54.81% from 2020. Total loans rose to $387.22 million, but total assets decreased to $490.10 million. The corporation continues to focus on mortgage origination and has authorized a $2 million share repurchase program.
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SVB&T Corporation (OTCQX:SVBT) declared a quarterly dividend of $0.27 per share, payable on January 15, 2022, to shareholders of record as of December 15, 2021. This represents a 3.85% increase from the total dividend declared for the 2020 fiscal year. The bank provides a range of financial services through its subsidiary, Springs Valley Bank & Trust Company, operating in multiple counties in Indiana.
SVB&T Corporation (OTCQX:SVBT) reported a strong third quarter 2021, with unaudited earnings of $1.91 million, translating to $3.48 EPS, a 50.65% increase year-over-year. Net interest income rose to $4.75 million, up from $4.25 million in Q3 2020, driven by PPP loans and lower funding costs, leading to a net interest margin growth from 3.63% to 4.05%. Year-to-date earnings reached $6.16 million, a 79.42% increase over 2020. However, noninterest income saw a slight decline, and overall deposits decreased by $1.78 million.
Despite economic challenges, Springs Valley remains well-positioned for growth.
SVB&T Corporation (OTCQX:SVBT) announced unaudited Q2 2021 earnings of $2.0 million, equating to $3.67 EPS, a 49.19% year-over-year increase. The return on average assets (ROAA) improved to 1.61% from 1.14%. The board declared a quarterly dividend of $0.27 per share, up 3.85% annually. Net interest income rose to $4.7 million, with a significant contribution from PPP loans and lower funding costs. Year-to-date earnings reached $4.2 million, marking a 95.92% increase. However, noninterest expense rose by $579,000 due chiefly to higher salary and benefits.
SVB&T Corporation (OTCQX:SVBT) announced a quarterly dividend of $0.27 per share, payable on or about July 15, 2021 to shareholders of record as of June 15, 2021. This dividend represents a 3.85% annualized increase compared to the total dividend declared for the 2020 fiscal year. The company operates Springs Valley Bank & Trust Company, providing full banking and financial services across multiple counties in Indiana.
SVB&T Corporation (OTCQX:SVBT) reported record earnings of $2.2 million or $4.01 EPS for Q1 2021, reflecting a 174.66% increase year-over-year. The return on average assets (ROAA) rose to 1.79% from 0.72% in the previous year. Net interest income increased to $4.6 million driven by growth in earning assets and reduced funding costs. Noninterest income also grew by approximately $647,000. The bank's total assets reached $499.2 million and total loans increased by $8.8 million. The company continues to prioritize community housing needs and PPP lending.
SVB&T Corporation has appointed James G. McDonald III as a new Board Director for both the corporation and Springs Valley Bank & Trust Company, effective March 16, 2021. McDonald, who has run a law practice for 34 years, brings extensive knowledge of the Gibson County market, which is expected to bolster the bank's operations in the area. His participation aims to enhance policy establishment, executive reviews, and budget approvals to drive customer-first initiatives.
SVB&T Corporation (OTCQX:SVBT) has initiated a $2 million share repurchase plan to enhance return on equity and earnings per share, as well as provide shareholder liquidity. The company will buy back shares as they become available, assessing market conditions and performance. This plan aligns with satisfying awards under the 2019 Equity Incentive Plan and may be adjusted or suspended at management's discretion. Shareholders are encouraged to consult financial advisors for more information on buying or selling shares.
SVB&T Corporation (OTCQX: SVBT) reported near-record fourth quarter 2020 earnings of $1.4 million or $2.44 EPS, reflecting a 24.49% year-over-year increase. The company achieved a return on average assets (ROAA) of 1.10%, up from 0.96% the previous year. Key growth drivers included a rise in net interest income to $4.7 million, boosted by PPP loans and reduced funding costs. YTD earnings for 2020 reached $4.8 million (EPS: $8.66), marking a 19.94% increase. Total assets grew to $496.1 million, with loans increasing to $375.1 million and deposits rising to $397.0 million.