JEFFERSONVILLE BANCORP - JFBC STOCK NEWS

Jeffersonville Bancorp reported Q3 2024 net income of $3,092,000 ($0.73 per share), up from $2,972,000 ($0.70 per share) in Q3 2023. The increase was mainly due to higher loan interest and fees of $397,000, partially offset by increased salaries and benefits. Year-to-date net income was $8,676,000 ($2.05 per share), slightly down from $8,828,000 ($2.08 per share) in 2023. The company declared a quarterly dividend of $0.15 per share, payable December 6, 2024. Management highlighted maintained favorable net interest margins and plans to reduce high-rate wholesale funding following Federal Reserve rate cuts.

Jeffersonville Bancorp (OTCQB: JFBC) announced the resignation of Director Philip Coombe, III from the boards of Jeffersonville Bancorp and its subsidiary, Jeff Bank, effective immediately. Coombe, who joined the board in 2012, served on all Jeff Bank committees and was the standing Chairman of the Asset and Liability and Compliance Committees. He is stepping down due to expanding business and professional obligations.

George W. Kinne, Jr., President and CEO, expressed gratitude for Coombe's dedication and support over the past 12 years. Jeffersonville Bancorp is a one-bank holding company that owns all capital stock of Jeff Bank, which operates ten full-service branches in Sullivan and Orange County, New York.

Jeffersonville Bancorp (OTCQB: JFBC) reported second quarter net income of $3,031,000 or $0.72 per share, down from $3,196,000 or $0.75 per share in Q2 2023. The decrease was mainly due to increased provision expense, interest expense, and salaries. Year-to-date net income as of June 30, 2024, was $5,584,000 or $1.32 per share, compared to $5,856,000 or $1.38 per share in 2023. Despite challenges, the company maintained stable net interest income, with higher loan rates offsetting increased interest expenses. The bank's low-cost deposit base and strong liquidity position it favorably among peers. A cash dividend of $0.15 per share was declared, payable on September 6, 2024.

Jeffersonville Bancorp (OTCQB: JFBC) reported first-quarter net income of $2,553,000 or $0.60 per share for 2024, down from $2,660,000 or $0.63 per share in Q1 2023. The $107,000 decrease was due to rises in various expenses, including interest expense ($743,000), credit loss provision ($288,000), and salaries ($132,000). Offsetting these were increases in non-interest income ($481,000), loan interest and fees ($450,000), and other interest income ($254,000), along with a $31,000 reduction in tax expenses. Despite the challenges, CEO George W. Kinne, Jr. emphasized the company's stable balance sheet and favorable earnings relative to peers. The board declared a dividend of $0.15 per share, payable on June 6, 2024, to shareholders of record as of May 28, 2024.

Jeffersonville Bancorp, Inc. (JFBC) reported a record net income of $11,175,000 for the year ended December 31, 2023, showing a 20% increase from 2022. The company attributed this growth to rises in various revenue streams, including securities, interest, and dividends. Quarterly net income decreased to $2,347,000 compared to 2022 due to higher interest expenses, offset by increased income and reduced expenses. A cash dividend of $0.15 per share was declared for stockholders.

Jeffersonville Bancorp, Inc. (JFBC) declared a special cash dividend of $0.15 per share on the common stock, payable on February 5, 2024, to stockholders of record as of January 29, 2024. The company had a successful 2023 with steady loan growth, improved credit quality, and low core funding costs. The higher rate environment contributed to interest on loans and balances at the Federal Reserve. George W. Kinne, Jr., President and CEO, expressed satisfaction with the positive results and strong capital position, leading to the reward for loyal shareholders.

Jeffersonville Bancorp, Inc. (OTCQB - JFBC) announced a third-quarter net income of $2,972,000, a $292,000 increase from the same quarter in 2022. Year-to-date net income as of September 30, 2023, was $8,828,000, a $2,327,000 increase from the same period in 2022. The company declared a cash dividend of $0.15 per share on the common stock.