JBTC Announces 4th Quarter 2022 Earnings

Rhea-AI Summary

JBT Bancorp, Inc. (JBTC) reported strong financial performance for 2022, showing unaudited earnings of $8,060,000, a 25.2% increase from $6,436,000 in 2021, with earnings per share rising from $2.65 to $3.31.

The company’s wholly owned subsidiary, Jonestown Bank & Trust Co., achieved a 12.6% growth in net loans and a 10.6% increase in net interest income year-over-year. The bank excelled in gathering non-interest-bearing deposits and saw growth in its cannabis-related business, contributing positively to profitability. Credit quality remains excellent, positioning the balance sheet well for future challenges.

Positive

• Earnings rose by 25.2% to $8,060,000 in 2022.
• EPS increased from $2.65 to $3.31.
• Net loans grew by 12.6%.
• Net interest income improved by 10.6%.
• Strong performance in non-interest-bearing deposit gathering.

Negative

• None.

JONESTOWN, Pa., Jan. 26, 2023 (GLOBE NEWSWIRE) -- JBT Bancorp, Inc. (JBTC) reported 2022 full-year unaudited earnings of $8,060,000 with earnings per share of $3.31. Earnings rose 25.2% from $6,436,000 in 2021 and earnings per share were up from $2.65 during the same period.

President & CEO, Troy A. Peters, commented, “Our company’s wholly owned subsidiary, Jonestown Bank & Trust Co., grew net loans by 12.6% and benefited from a 10.6% improvement in net interest income over the prior year. We were particularly pleased with the loan growth in our commercial and indirect businesses. The Bank again excelled at non-interest-bearing deposit gathering and our cannabis related business continues to grow and contribute to our profitability. Credit quality remains excellent and our balance sheet is well-positioned as we take on the challenges of the coming year”.

More information can be found on the Investors Relations tab of 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 are JBT Bancorp's earnings for 2022?

JBT Bancorp reported earnings of $8,060,000 for the full year 2022.

How much did JBT Bancorp's earnings per share increase?

Earnings per share increased from $2.65 in 2021 to $3.31 in 2022.

What was the growth in net loans for JBT Bancorp?

Net loans grew by 12.6% at JBT Bancorp in 2022.

What contributed to JBT Bancorp's profitability?

The company's cannabis-related business and strong loan growth contributed to profitability.

How did JBT Bancorp perform in terms of credit quality?

JBT Bancorp maintained excellent credit quality in 2022.