JEFFERSONVILLE BANCORP - JFBC STOCK NEWS

JEFFERSONVILLE, N.Y., Jan. 10, 2023 (GLOBE NEWSWIRE) -- Jeffersonville Bancorp (OTCQB - JFBC) has declared a special cash dividend of $0.10 per share on common stock, effective January 31, 2023, for stockholders on record as of January 24, 2023. The company's strong performance in 2022 was driven by solid loan growth and favorable funding costs, enhanced by Federal Reserve rate hikes. President and CEO George W. Kinne, Jr. expressed confidence in rewarding shareholders due to the positive results and robust capital position.

JEFFERSONVILLE, N.Y., Nov. 08, 2022 (GLOBE NEWSWIRE) -- Jeffersonville Bancorp reported Q2 net income of $2,680,000 or $0.63 per share, up from $1,453,000 or $0.34 per share in Q2 2021. Year-to-date net income as of September 30, 2022, reached $6,501,000, or $1.53 per share, compared to $4,502,000 or $1.06 per share in 2021. Key factors include increased securities interest and dividends, alongside decreased salary expense, despite a rise in tax expenses. A cash dividend of $0.15 per share was declared, payable December 2, 2022.

Jeffersonville Bancorp, Inc. (OTCQB - JFBC) reported a strong second quarter net income of $2,031,000 or $0.48 per share, up from $1,735,000 or $0.41 per share in 2021, reflecting a $296,000 increase. Year-to-date net income reached $3,821,000 or $0.90 per share, compared to $3,049,000 or $0.72 per share in 2021, driven by higher securities interest and dividends. A cash dividend of $0.15 per share was declared for September 1, 2022.

Jeffersonville Bancorp, Inc. (OTCQB - JFBC) reported a first-quarter net income of $1,790,000 or $0.42 per share, a notable increase from $1,314,000 or $0.31 per share in 2021. This $476,000 gain primarily resulted from a rise in securities interest and loan fees, alongside reduced non-interest expenses. The company announced a cash dividend of $0.15 per share, payable on June 1, 2022. President George W. Kinne, Jr. highlighted strong liquidity and the potential for higher interest rates impacting loan repricing.

Jeffersonville Bancorp, Inc. (OTCQB - JFBC) reported a Q4 2021 net income of $1,442,000 ($0.34/share), up from $1,204,000 ($0.28/share) in Q4 2020, driven by increases in securities gains and service charge income. Year-to-date net income reached $5,944,000 ($1.40/share) compared to $4,810,000 ($1.14/share) in 2020. Noteworthy improvements included a rise in securities interest and reduced loan loss provisions. However, higher tax expenses and a decrease in loan interest offset some gains. A $0.15 dividend per share was declared, payable on March 2, 2022.

Jeffersonville Bancorp (JFBC) reported a third-quarter net income of $1,453,000 ($0.34 per share), up from $1,296,000 ($0.30) in Q3 2020. Key factors included a $259,000 rise in securities interest, a $250,000 drop in loan loss provisions, and increased fee income. However, there was a decrease in loan interest and fees of $347,000 and a rise in non-interest expenses of $87,000. Year-to-date income reached $4,502,000 ($1.06 per share). Additionally, a cash dividend of $0.15 per share has been declared, payable on December 3, 2021.

Jeffersonville Bancorp, Inc. (OTCQB - JFBC) announced the closure of its Narrowsburg and Loch Sheldrake branch offices effective February 11, 2022. This decision follows a strategic review of branch profitability. Customers from these branches will have their accounts transferred to nearby Callicoon and Liberty branches. President George Kinne expressed optimism about maintaining customer relationships through their extensive network and digital services. The closures aim to enhance operational efficiency, reduce costs, and improve returns on assets and equity.

Jeffersonville Bancorp (OTCQB - JFBC) reported strong second-quarter net income of $1,735,000 or $0.41 per share, up from $1,264,000 or $0.30 per share in 2020. The increase is driven by a rise in non-interest income and reduced loan loss provisions. Year-to-date net income reached $3,049,000 or $0.72 per share, a $739,000 increase year-over-year. A cash dividend of $0.15 per share was declared, payable on September 1, 2021. The company maintains a liquid position to capitalize on future opportunities amid uncertainty in the economic landscape.

Jeffersonville Bancorp, Inc. (OTCQB - JFBC) reported a first quarter net income of $1,314,000 or $0.31 per share, up from $1,046,000 or $0.25 per share in the same quarter of 2020. The $268,000 increase was mainly due to a $250,000 decrease in the provision for loan losses, $235,000 unrealized gain on equity securities, and a $71,000 decrease in interest expense, offset by a $536,000 decrease in loan interest and a $71,000 increase in tax expense. A cash dividend of $0.15 per share was declared, payable June 2, 2021.