STOCK TITAN

Bank Of Botetour - BORT STOCK NEWS

Welcome to our dedicated page for Bank Of Botetour news (Ticker: BORT), a resource for investors and traders seeking the latest updates and insights on Bank Of Botetour stock.

Bank of Botetourt (BORT) delivers community-focused financial services across Virginia, blending traditional relationship banking with modern digital solutions. This page provides investors and stakeholders with centralized access to official announcements, strategic developments, and operational updates.

Track earnings reports, leadership changes, and regulatory filings alongside initiatives demonstrating BORT's commitment to local economic growth. Discover updates on mortgage lending programs, wealth management services, and technological advancements like 24/7 ITM deployments.

Key content includes quarterly financial results, community reinvestment projects, branch expansions, and financial literacy partnerships. Bookmark this page for real-time updates on one of Virginia's oldest banks as it balances heritage with innovation in community banking.

Rhea-AI Summary

Bank of Botetourt (OTCPK:BORT) announces CEO G. Lyn Hayth, III will retire on June 30, 2025, after nearly 40 years of service. Michelle R. Austin, current President and COO, will succeed as CEO effective July 1, 2025. Hayth will remain Vice-Chair and transition to Chief Strategic Officer part-time.

Under Hayth's leadership since 2010, the bank's total assets grew from $310 million to $864 million. His tenure saw expansion into new markets, establishment of Virginia Mountain Mortgage and Botetourt Wealth Management divisions, and successful navigation through the Great Recession and COVID-19 pandemic. The bank's PPP program helped retain over 4,000 jobs, and in 2024, Forbes recognized it as Virginia's #1 Best-In-State Bank.

Austin, who joined as an intern in 1991, brings extensive experience including 18 years as CFO and leadership roles in various departments. She holds an MBA and has served as President and COO since 2023.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.08%
Tags
none
-
Rhea-AI Summary

Bank of Botetourt (BORT) reported strong financial results for Q4 and full-year 2024. The bank achieved Q4 net income of $1,954,000 ($0.94 per share), up from $1,800,000 ($0.86 per share) in Q4 2023. Full-year 2024 net income was $7,942,000 ($3.82 per share), compared to $8,173,000 ($3.95 per share) in 2023.

Key highlights include total deposit growth of 10.94%, total asset growth of 8.35%, and total loan growth of 13.20%. The bank maintained strong asset quality with a Community Bank Leverage Ratio of 10.22%. The Board approved a 12.5% increase in quarterly dividend to $0.225 per common share, payable February 18, 2025, and a 7.00% preferred dividend of $0.49 per share, payable February 7, 2025.

The bank expanded its presence by opening its fourteenth full-service branch in Rocky Mount, Virginia, on December 23, 2024.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.31%
Tags
dividends
-
Rhea-AI Summary

Bank of Botetourt (OTCPK: BORT) reported Q3 2024 net income of $1.97 million ($0.94 per share), compared to $2.09 million ($1.01 per share) in Q3 2023. For the nine months ended September 2024, net income was $5.99 million ($2.88 per share). Key highlights include total deposit growth of 2.49%, asset growth of 3.41%, and loan growth of 9.65%. The bank maintained a strong Community Bank Leverage Ratio of 10.53%. The Board approved a $0.20 quarterly dividend for common shareholders and a 7.00% preferred dividend. The decrease in quarterly net income was primarily due to higher interest expenses and provision for credit losses, partially offset by increased interest and fees on loans.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.67%
Tags
Rhea-AI Summary

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.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.1%
Tags
none
-
Rhea-AI Summary

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.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.64%
Tags
-
Rhea-AI Summary

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.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.64%
Tags
none
Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
-
Rhea-AI Summary
Bank of Botetourt appoints A. Randy Hostetter, bringing 30 years of experience to the Board of Directors.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.39%
Tags
management
-
Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.74%
Tags
dividends
Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
Bank Of Botetour

OTC:BORT

BORT Rankings

BORT Stock Data

65.95M
1.95M
7.23%
Banks - Regional
Financial Services
Link
United States
Buchanan