BANK OF BOTETOURT BUCH VA - BORT STOCK NEWS

Bank of Botetourt (OTCPK: BORT and BORTP) celebrated its 125th anniversary at The Hotel Roanoke and Conference Center, marking a significant milestone in its history. Established in 1899, the bank has grown to become the largest community bank in the Roanoke Metropolitan Service Area. CEO G. Lyn Hayth, III highlighted the bank's dedication, innovation, and resilience throughout its journey.

The bank was recently named the #1 bank in Virginia for 2024 by Forbes in its America's Best-In-State Banks list. This recognition was based on an independent survey of 26,000 U.S. consumers rating financial institutions on various factors. The Virginia House of Delegates also recognized the bank's milestone with House Resolution 726.

The celebration included a performance by Miss Virginia 2024 and emphasized the bank's commitment to innovation, community engagement, and future growth.

Bank of Botetourt (OTCPK: BORT) reported strong Q2 2024 financial results, exceeding budget expectations. Key highlights include:

- Net income of $2,193,000 or $1.06 per basic share, up 10.04% from $1,993,000 or $0.96 per share in Q2 2023
- Total loan growth of 6.09%
- Return on average assets of 1.01%
- Return on average equity of 10.53%
- Community Bank Leverage Ratio of 10.40%

The bank's performance was driven by increased interest and fees on loans and reduced provision for credit losses. However, this was partially offset by higher interest expenses on deposits and borrowings. The Board approved a $0.20 per share quarterly dividend payable on August 16, 2024.

Bank of Botetourt (OTCPK: BORT and OTCPK: BORTP) has applied to establish a full-service branch in Roanoke, Virginia, at 2502 Melrose Ave, NW. The bank is partnering with Goodwill Industries to provide banking services at Melrose Plaza, aiming to strengthen Northwest Roanoke. The new branch will offer 24/7 ITM access, night deposits, and mortgage services through Virginia Mountain Mortgage.

This expansion underscores Bank of Botetourt's commitment to empowering the Northwest Neighborhood and promoting financial wellness. The branch will provide personalized banking services, including mortgage, commercial and agricultural lending, insurance, and wealth management solutions. With a 125-year history, Bank of Botetourt aims to become an integral part of the community, offering financial education and growth opportunities.

Bank of Botetourt reported a profitable first quarter with net income of $1,828,000, showing a decrease from the previous year. Key highlights include a return on average assets of 0.92%, return on average equity of 9.69%, and total deposit growth of 1.42%. The Board of Directors approved a 7.00% preferred dividend and a $0.20 per share quarterly dividend. CEO G. Lyn Hayth, III emphasized the importance of sustainable growth and delivering shareholder value.

Bank of Botetourt appoints A. Randy Hostetter, bringing 30 years of experience to the Board of Directors.

Bank of Botetourt (OTCPK: BORT and BORTP) released its unaudited financial results for the three and twelve months-ended December 31, 2023. The bank produced net income of $1,800,000 or $0.86 per basic share in the fourth quarter, compared to $2,191,000 or $1.13 per share for the same period last year. The twelve-month net income was $8,173,000 or $3.95 per basic share, compared to $7,805,000 or $4.04 per share for the same period last year. Key highlights include a 10.55% total asset growth, a 22.87% total loan growth, and a 7.10% total deposit growth. The Board of Directors voted to pay the 7.00% preferred dividend and increased the quarterly common dividend from $0.1925 to $0.20 per share.

Bank of Botetourt announces unaudited financial results for Q3 2023, with net income of $2.08M. Total deposit growth of 0.91% and total asset growth of 3.69%. CEO states strong financial performance despite challenges.

Bank of Botetourt (OTCPK: BORT, BORTP) reported substantial financial growth for Q1 2023. Net income surged to $2,294,000, or $1.12 per share, marking a 48.67% increase from $1,543,000 in Q1 2022. Key metrics revealed a return on average assets of 1.28% and a return on average equity of 13.60%. Total loan growth was recorded at 5.31%. However, total deposits declined by 0.83%. The bank declared a $0.1925 quarterly dividend and a $0.49 preferred dividend. The adoption of FASB's CECL resulted in an initial $581,000 reduction in retained earnings but showed controlled non-performing loans with no foreclosures.