JSB Financial - JFWV STOCK NEWS

Jefferson Security Bank (OTCPK: JFWV) reported a decline in net income for the third quarter of 2023 compared to the same period in 2022. Basic and diluted earnings per common share also decreased. Net interest income decreased for the third quarter of 2023, but increased for the nine months ended September 30, 2023. Total assets, loans, and deposits all increased compared to previous periods. The credit quality of the loan portfolio remained strong.

JSB Financial Inc. declares $1.15 per share semi-annual dividend.

Jefferson Security Bank (OTCPK: JFWV) announced a semi-annual dividend of $1.15 per share, payable on March 10, 2023, to shareholders of record on February 28, 2023. This marks an increase of $0.05 from the previous dividend of $1.10 per share paid in September 2022. President and CEO Cindy Kitner highlighted the bank's achievement of a fifth consecutive year of record earnings despite economic challenges. The focus remains on strong capital management and providing value to shareholders.

Jefferson Security Bank (OTCPK: JFWV) announced its 2022 financial results, achieving record earnings for the fifth consecutive year. Q4 net income rose to $1.3 million, a 44.82% increase from Q4 2021, while annual net income grew to $3.9 million, up 8.01%. Basic earnings per share increased from $3.36 in Q4 2021 to $4.86 in Q4 2022, reaching $14.01 for the year. Net interest income for 2022 totaled $13.0 million, a 14.91% increase. Total assets rose by 8.07% to $461.2 million, driven by a 24.28% rise in loans. However, book value per share declined from $119.52 to $81.64 due to unrealized losses in the investment portfolio.

Jefferson Security Bank (OTCPK: JFWV) reported net income of $898 thousand for Q3 2022, a 4.1% increase from $863 thousand in Q3 2021. Basic earnings per share rose to $3.26 from $3.13. However, net income for the first nine months declined by $128 thousand to $2.5 million, with earnings per share at $9.15, down from $9.58 in 2021. Total assets increased by $16.9 million to $454.7 million, while loans grew by 20.2%, indicating robust growth despite rising expenses.

Jefferson Security Bank (OTC Pink: JFWV) announces a semi-annual dividend of $1.10 per share, approved by the Board on August 18, 2022. The dividend will be paid on September 9, 2022, to shareholders of record on August 31, 2022. This results in an annual dividend of $2.20 per share for 2022, marking a 7.3% increase from $2.05 in 2021. CEO Cindy Kitner emphasizes the bank’s commitment to enhancing shareholder value while managing capital prudently amidst economic conditions.

Jefferson Security Bank (OTC Pink: JFWV) reported a net income of $833 thousand for Q2 2022, down $173 thousand or 17.2% from Q2 2021. Diluted EPS decreased to $3.02 from $3.65. For the first six months, net income was $1.6 million, a decline of $164 thousand or 9.2%. Provision for loan losses was $140 thousand in Q2 due to strong loan growth. Total assets rose $34.6 million to $448.9 million. However, total equity fell to $20.0 million due to market interest rate impacts, with book value per share down to $72.71.

Jefferson Security Bank (OTC Pink: JFWV) announced the election of new independent directors, Archibald R. Hoxton IV and Kelvin L. Upson. Hoxton brings 30 years of financial planning experience and previously worked with Goldman Sachs PFM. Upson, a Senior Cybersecurity Professional, has extensive military and engineering expertise. The Chair of the Board expressed confidence that their diverse skills will enhance strategic guidance and shareholder value, reinforcing the bank's commitment to strong performance amidst evolving market conditions.