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JSB Financial Inc. (JFWV) delivers integrated financial solutions through banking, investment management, and capital market services. This news hub provides stakeholders with verified updates directly from corporate sources, ensuring access to accurate information for informed analysis.
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JSB Financial (OTC Pink: JFWV) has announced a semi-annual cash dividend of $1.25 per common share, representing a $0.05 increase from the previous dividend of $1.20 paid in September 2024. The dividend will be payable on March 14, 2025 to shareholders of record on March 3, 2025. The dividend increase was approved by the Board of Directors at their February 19, 2025 meeting.
JSB Financial Inc. (JFWV) reported strong financial results for 2024, with unaudited consolidated net income reaching $4.1 million, a 35.2% increase from 2023's $3.0 million. Basic and diluted earnings per share rose to $15.94 from $11.15 year-over-year.
The company's performance showed improvements in key metrics, with net interest income increasing 17.6% to $14.5 million, including a $1.3 million interest recovery from a prior nonperforming loan. Total assets grew 7.2% to $536.9 million, while net loans increased 8.7% to $378.2 million. Deposits saw significant growth of 16.1% to $494.7 million.
Asset quality remained strong with historically low levels of past dues and nonaccrual loans. The allowance for credit losses was $4.1 million, representing 1.07% of total loans. The company maintained strong capital ratios and declared cash dividends totaling $2.40 per share in 2024.
JSB Financial Inc. (OTC Pink: JFWV) has announced the promotion of Dustin T. Branner to Executive Vice President and Chief Lending Officer of Jefferson Security Bank. Branner, who brings over 20 years of experience in commercial lending, financial advising, and investing, has been with the bank for nearly 16 years. He initially joined in 2005 as a Commercial Lender, briefly left in 2013, and returned in 2017 as Senior Vice President and Commercial Loan Officer.
Branner holds a Bachelor of Finance from University of Maryland UC and has completed various professional certifications, including ABA Graduate Commercial Lending School and multiple FINRA Securities Licenses. He is also a U.S. Navy veteran who served for 4 years, including assignments on the USS New Orleans and The Bonhomme Richard.
JSB Financial (OTCPink: JFWV) reported Q3 2024 net income of $2.0 million, up from $643,000 in Q3 2023. The results include a $1.3 million interest recovery and $252,000 credit loss allowance recovery. Earnings per share reached $7.64 in Q3 2024, compared to $2.33 in Q3 2023. For the first nine months of 2024, net income totaled $3.4 million with EPS of $13.33. Total assets grew to $577.3 million, up 15.3% from year-end 2023. Total deposits increased to $514.7 million, representing a 20.8% rise. The company maintained strong credit quality with nonaccrual loans at just 0.01% of total loans.
JSB Financial Inc. (OTC Pink: JFWV) announced that Karl J. 'Jeff' Keller, Executive Vice President of Lending, will retire on September 13, 2024, after 31 years of service. Keller will be appointed to the Boards of Directors of both JSB Financial Inc. and Jefferson Security Bank immediately following his retirement. During his tenure, Keller played a important role in the bank's growth, with the loan portfolio expanding from $37 million in 1987 to $374 million as of June 30, 2024. Keller's 38-year career in banking and community leadership roles has been marked by his focus on maintaining prudent underwriting standards and serving as a trusted advisor to customers.
JSB Financial Inc. (OTCPink: JFWV), the holding company of Jefferson Security Bank, has declared a semi-annual dividend of $1.20 per share. The cash dividend will be paid on September 13, 2024 to shareholders of record on September 2, 2024. This dividend maintains consistency with the previous semi-annual payout and brings the total annual dividend for 2024 to $2.40 per share. Notably, this represents a 4.3% increase from the 2023 annual dividend of $2.30 per share, demonstrating the company's commitment to shareholder returns and financial stability.
JSB Financial Inc. (OTC PINK: JFWV) reported Q2 2024 results with net income of $793,000, down 1.74% from Q2 2023. For H1 2024, net income decreased 13.4% to $1.5 million. Net interest income for H1 2024 increased 4.2% to $6.4 million. The company achieved record-level loans of $374.0 million as of June 30, 2024, up 7.5% from December 31, 2023. Total deposits grew 10.0% to $468.6 million. Asset quality remained strong with nonaccrual loans at 0.01% of total loans. The allowance for credit losses was 1.07% of total loans. On August 8, 2024, the company received payment on prior nonperforming loans, resulting in a $1.3 million interest recovery.
JSB Financial (OTCPK: JFWV) reported a net income of $671 thousand for Q1 2024, a decrease of 24.2% from $885 thousand in Q1 2023. Earnings per share dropped to $2.61 from $3.21. The annualized return on assets and equity also declined to 0.53% and 10.75%, respectively. However, the company saw improvements in net interest income, which increased by 1.3% to $3.2 million, and book value per share, which rose to $97.40. Total assets grew by 6.1% to $531.2 million. Deposits and loans surged by $32.0 million and $18.3 million, respectively. Non-performing loans remained minimal, though past due loans increased. Regulatory capital ratios declined slightly due to organic loan growth and increased assets.
