JBTC Announces 2nd Quarter 2021 Earnings

Rhea-AI Summary

JBT Bancorp reported strong second quarter earnings of $3,158,000, or $1.30 per share, reflecting a 128% increase from last year’s $1,388,000, or $0.57 per share. This growth was driven by increased loan interest income, mortgage profits, and Paycheck Protection Program fees. Additionally, reductions in interest expenses and loan loss provisions enhanced earnings. The bank operates 14 locations in Pennsylvania, serving Lebanon, Lancaster, and Berks Counties.

Positive

• Earnings increased by 128% year-over-year, reflecting strong financial performance.
• Earnings per share rose to $1.30, up from $0.57 in the previous year.
• Increased income from loans and fees contributed to overall profitability.
• Reductions in interest expenses and loan loss provisions positively impacted earnings.

Negative

• None.

JONESTOWN, Pa., July 30, 2021 (GLOBE NEWSWIRE) -- JBT Bancorp, Inc. (OTC Pink: JBTC) reported earnings of $3,158,000 or $1.30 per share for the second quarter of 2021, up 128% from $1,388,000 or $0.57 per share in the prior year. “Earnings were positively impacted by increases in loan interest income, mortgage profits, and fees earned from loans issued as part of the Paycheck Protection Program. Additional important contributing factors were reductions in interest expense and the loan loss provision.” said President & CEO, Troy A. Peters.

The bank (marketed as JBT) serves customers in and around Lebanon, Lancaster and Berks Counties in Pennsylvania. Founded in 1873, the bank currently has 14 full-service locations. More information is available in the quarterly shareholder letter 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 were JBT Bancorp's earnings for Q2 2021?

JBT Bancorp reported earnings of $3,158,000 or $1.30 per share for Q2 2021.

How much did JBT Bancorp's earnings increase by compared to last year?

Earnings increased by 128% compared to the previous year's earnings of $1,388,000 or $0.57 per share.

What factors contributed to JBT Bancorp's earnings growth?

The earnings growth was driven by increased loan interest income, mortgage profits, Paycheck Protection Program fees, and reductions in interest expenses and loan loss provisions.

How many locations does JBT Bancorp operate?

JBT Bancorp operates 14 full-service locations in Pennsylvania.