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JBTC Announces 3rd Quarter 2024 Earnings

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JBT Bancorp, Inc. (OTCQX: JBTC) reported Q3 2024 earnings of $2,306,000 or $0.94 per share. Nine-month earnings reached $5,780,000 or $2.37 per share, a 1.05% increase from the previous year's $5,720,000 or $2.35 per share. President & CEO Troy A. Peters attributed the growth to increased net interest income, which rose 2.65% year-to-date, while actively slowing loan growth and focusing on overall liquidity. The company experienced a stabilization in funding costs as most certificates of deposit were repriced to current rates, leading to a more stable financial environment.

JBT Bancorp, Inc. (OTCQX: JBTC) ha riportato un utile del terzo trimestre 2024 di 2.306.000 dollari, ovvero 0,94 dollari per azione. Gli utili dei primi nove mesi hanno raggiunto 5.780.000 dollari, pari a 2,37 dollari per azione, con un aumento dell'1,05% rispetto ai 5.720.000 dollari, o 2,35 dollari per azione, dell'anno precedente. Il Presidente e CEO Troy A. Peters ha attribuito la crescita all'aumento del reddito da interessi netti, che è aumentato del 2,65% da inizio anno, mentre è stata attivamente rallentata la crescita dei prestiti e ci si è concentrati sulla liquidità complessiva. L'azienda ha sperimentato una stabilizzazione dei costi di finanziamento, poiché la maggior parte dei certificati di deposito sono stati ricalcolati ai tassi attuali, portando a un ambiente finanziario più stabile.

JBT Bancorp, Inc. (OTCQX: JBTC) reportó ganancias del tercer trimestre 2024 de 2,306,000 dólares o 0.94 dólares por acción. Las ganancias de los primeros nueve meses alcanzaron 5,780,000 dólares o 2.37 dólares por acción, un aumento del 1.05% respecto a los 5,720,000 dólares o 2.35 dólares por acción del año anterior. El Presidente y CEO Troy A. Peters atribuyó el crecimiento al aumento del ingreso neto por intereses, que creció un 2.65% en lo que va del año, mientras se ralentizaba activamente el crecimiento de préstamos y se enfocaba en la liquidez general. La empresa experimentó una estabilización en los costos de financiamiento ya que la mayoría de los certificados de depósito fueron ajustados a las tasas actuales, lo que llevó a un entorno financiero más estable.

JBT Bancorp, Inc. (OTCQX: JBTC)는 2024년 3분기 수익으로 2,306,000달러 또는 주당 0.94달러를 보고했습니다. 9개월 수익은 5,780,000달러 또는 주당 2.37달러에 도달하였으며, 이는 지난해 5,720,000달러 또는 주당 2.35달러에 비해 1.05% 증가한 수치입니다. 사장 겸 CEO인 Troy A. Peters는 성장이 2.65% 증가한 순이자 수익의 증가 때문이라고 주장하며, 대출 성장 둔화와 전반적인 유동성에 집중하고 있다고 전했습니다. 회사는 대부분의 예금 증서가 현재 금리에 재조정됨에 따라 자금 조달 비용이 안정화되었으며, 이는 보다 안정적인 금융 환경을 초래했습니다.

JBT Bancorp, Inc. (OTCQX: JBTC) a annoncé des résultats du troisième trimestre 2024 de 2 306 000 dollars, soit 0,94 dollar par action. Les bénéfices des neuf premiers mois se sont élevés à 5 780 000 dollars, soit 2,37 dollars par action, soit une augmentation de 1,05% par rapport aux 5 720 000 dollars, ou 2,35 dollars par action, de l'année précédente. Le Président et CEO Troy A. Peters a attribué cette croissance à l'augmentation des revenus d'intérêts nets, qui ont augmenté de 2,65 % depuis le début de l'année, tout en ralentissant activement la croissance des prêts et en se concentrant sur la liquidité globale. L'entreprise a connu une stabilisation des coûts de financement, la plupart des certificats de dépôt ayant été réévalués aux taux actuels, conduisant à un environnement financier plus stable.

JBT Bancorp, Inc. (OTCQX: JBTC) hat Ergebnisse für das 3. Quartal 2024 in Höhe von 2.306.000 USD oder 0,94 USD pro Aktie gemeldet. Die Gewinne der ersten neun Monate beliefen sich auf 5.780.000 USD oder 2,37 USD pro Aktie, was einem Anstieg von 1,05% im Vergleich zu den 5.720.000 USD oder 2,35 USD pro Aktie des Vorjahres entspricht. Präsident und CEO Troy A. Peters führte das Wachstum auf einen Anstieg der Nettozins Einkommen zurück, das bis heute um 2,65 % gestiegen ist, während die Kreditwachstum aktiv verlangsamt wurde und der Fokus auf der allgemeinen Liquidität lag. Das Unternehmen erlebte eine Stabilisierung der Finanzierungskosten, da die meisten Einlagenzertifikate auf die aktuellen Zinssätze umgestellt wurden, was zu einem stabileren finanziellen Umfeld führte.

Positive
  • Q3 2024 earnings of $2,306,000 or $0.94 per share
  • Nine-month earnings increased by 1.05% year-over-year
  • Net interest income grew by 2.65% year-to-date
  • Stabilization of funding costs due to repricing of certificates of deposit
Negative
  • Active slowing of loan growth

JONESTOWN, Pa., Oct. 15, 2024 (GLOBE NEWSWIRE) -- JBT Bancorp, Inc. (OTCQX: JBTC) reported quarterly earnings of $2,306,000 or $0.94 per share for the third quarter of 2024. Nine-month reported earnings are $5,780,000 or $2.37 per share, up from $5,720,000 or $2.35 per share in the prior year, representing a 1.05% increase in earnings.

President & CEO Troy A. Peters stated: “This earnings increase is largely attributable to growing net interest income while actively slowing loan growth and focusing on overall liquidity. Net interest income is up 2.65% year-to-date as funding cost increases slowed during the summer. Most certificates of deposit have been repriced into current rates and the escalating costs of these deposits has leveled off and created a more stable environment.”

More information can be found at OTC Markets at www.otcmarkets.com/stock/JBTC/overview.

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 JBTC's Q3 2024 earnings?

JBT Bancorp (JBTC) reported Q3 2024 earnings of $2,306,000 or $0.94 per share.

How did JBTC's nine-month earnings in 2024 compare to the previous year?

JBTC's nine-month earnings in 2024 were $5,780,000 or $2.37 per share, a 1.05% increase from $5,720,000 or $2.35 per share in the prior year.

What was the year-to-date growth in net interest income for JBTC in 2024?

JBTC reported a 2.65% year-to-date increase in net interest income for 2024.

How did JBTC manage its funding costs in Q3 2024?

JBTC repriced most certificates of deposit to current rates, which led to a stabilization of funding costs and created a more stable financial environment.

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