JBTC Announces 3rd Quarter 2023 Earnings

Rhea-AI Summary

JBT Bancorp reports quarterly earnings of $2.3 million, down from prior year. President & CEO emphasizes focus on keeping the bank strong and well capitalized.

Positive

• JBT Bancorp reported quarterly earnings of $2,326,000 or $0.96 per share for Q3 2023.
• President & CEO Troy A. Peters emphasizes focus on keeping the bank strong, well capitalized, and appropriately liquid.
• The bank has been successful in increasing net interest income through ongoing funds management practices.

Negative

• Nine-month reported earnings total $5,720,000 or $2.35 per share, down from $5,833,000 or $2.40 per share in the prior year.
• The dynamic rate environment has led to increased funding costs.

JONESTOWN, Pa., Oct. 27, 2023 (GLOBE NEWSWIRE) -- JBT Bancorp, Inc. (JBTC) reported quarterly earnings of $2,326,000 or $0.96 per share for the third quarter of 2023. Nine-month reported earnings total $5,720,000 or $2.35 per share, down from $5,833,000 or $2.40 per share in the prior year.

President & CEO Troy A. Peters stated: “Throughout the year, we have focused on keeping the Bank strong, well capitalized, and appropriately liquid. The dynamic rate environment has led to increased funding costs however; we have been successful in increasing our net interest income through ongoing funds management practices.”

More information is available in the quarterly shareholder letter found on the Investors Relations tab at jbt.bank.

Contact: Andrea Shetterly, EAA
ashetterly@jbt.bank
Jonestown Bank & Trust Co.
2 West Market Street
Jonestown, PA 17038-0717
Phone: 717-865-4246

FAQ

What were JBT Bancorp's quarterly earnings for Q3 2023?

JBT Bancorp reported quarterly earnings of $2,326,000 or $0.96 per share for the third quarter of 2023.

What is the nine-month reported earnings for JBT Bancorp?

Nine-month reported earnings total $5,720,000 or $2.35 per share, down from $5,833,000 or $2.40 per share in the prior year.

What is the focus of JBT Bancorp's President & CEO?

President & CEO Troy A. Peters emphasizes focus on keeping the bank strong, well capitalized, and appropriately liquid.

How has JBT Bancorp increased net interest income?

JBT Bancorp has been successful in increasing net interest income through ongoing funds management practices.

What has led to increased funding costs for JBT Bancorp?

The dynamic rate environment has led to increased funding costs for JBT Bancorp.