Potomac Bancshares Inc - PTBS STOCK NEWS

Potomac Bancshares (OTCPK: PTBS) reported strong Q4 2024 results with unaudited consolidated net income of $2.0 million and earnings per share of $0.48. The company's adjusted net income was $2.3 million with adjusted EPS of $0.55. For the full year 2024, net income reached $6.8 million with EPS of $1.65.

Key Q4 highlights include improved net interest margin of 3.37% (up 13 basis points), 10% annualized loan balance growth, 110% increase in secondary market mortgage revenue, and 13% growth in wealth management revenue. The Bank's asset quality remained stable with nonperforming assets at 0.31% of total assets.

Total assets reached $877.3 million, up 6% year-over-year, with loans totaling $704.1 million (8% increase). The company maintained strong capital ratios with a total capital ratio of 13.57% and declared a quarterly cash dividend of $0.12 per share.

Potomac Bancshares (OTC:PTBS), the bank holding company for Bank of Charles Town (BCT), has announced its Board of Directors has declared a quarterly cash dividend of $0.12 per share. The dividend will be paid on February 13, 2025, to shareholders of record as of February 6, 2025.

BCT-Bank of Charles Town (OTC:PTBS) has unveiled its renovated Martinsburg, West Virginia branch with a public open house. The event was led by Aaron Howell, SVP and Community Banking Executive, alongside President and CEO Alice Frazier and Branch Manager Kim McGarrah. The renovation marks a significant upgrade for the branch, which opened in 2001 and has become BCT's second-largest location in terms of deposits and client accounts.

The branch's makeover was celebrated with a ribbon-cutting ceremony officiated by Randy Lewis, Interim President and CEO of the Berkeley-Martinsburg Chamber of Commerce. The location offers comprehensive banking services, including deposit accounts, retail and business lending, trust services, wealth management, and mortgage lending. Located at 9738 Tuscarora Pike, the branch operates Monday through Thursday (9:00 a.m. to 4:00 p.m.), Friday (9:00 a.m. to 5:00 p.m.), and Saturday (9:00 a.m. to Noon) with drive-through service available.

Potomac Bankshares (OTC: PTBS) has appointed M. Shane Bell as Executive Vice President and Chief Financial Officer, following Dean Cognetti's retirement. Bell brings over 22 years of banking experience and will oversee the company's financial activities, including financial planning, capital management, and investor relations.

Bell's extensive background includes implementing accounting standards, managing internal controls, and handling interest rate and liquidity risk. Prior to this role, he served as a Manager at Yount, Hyde & Barbour, PC. He holds a CPA license, a B.S. in Accounting from Frostburg State University, and completed coursework at prestigious institutions. Bell has been active in community service, serving on various boards and committees.

BCT-Bank of Charles Town (OTC: PTBS) has appointed Ronald B. Burley as Executive Vice President and Chief Retail Banking Officer. Burley brings over 23 years of banking experience, previously managing operations for 200+ branches in Mid-Atlantic markets. He holds an MBA from Salisbury University and a BS in Economics from Drexel University. As part of the executive team, he will oversee retail banking sales and operations, leveraging his experience in sales leadership, retail operations, and M&A to support the bank's strategic growth plans while maintaining positive client experiences.

BCT-Bank of Charles Town (OTC:PTBS) has been named a '2024 Best Banks to Work For' by American Banker, marking its fifth recognition in six years. The program, established in 2013 by American Banker and Best Companies Group, evaluates U.S. banks based on employee satisfaction through comprehensive surveys and organizational assessment.

The selection criteria emphasize engaged leadership, strong corporate culture, job training opportunities, and employee benefits including volunteer time off and appreciation events. Banks ranging from 52 to 5,200 employees were eligible for consideration.

President and CEO Alice P. Frazier highlighted the company's commitment to creating an exceptional employee experience, noting that employee feedback provides valuable insights for continuous workplace improvement.

Potomac Bancshares (OTC: PTBS) reported Q3 2024 earnings of $1.761 million ($0.42 per share), compared to $1.729 million ($0.42 per share) in Q3 2023. Total assets reached $871.4 million, up 7.6% year-over-year. Key highlights include: 20% growth in wealth management assets, stable net interest margin at 3.21%, and loan growth of $22.4 million (3.4%) in Q3. The company declared a quarterly dividend of $0.12 per share. Year-to-date net income was $4.857 million ($1.17 per share), down from $5.554 million ($1.34 per share) in the same period of 2023.

BCT Residential Lending expands into Fairfax County, Virginia with the addition of The Richardson Team. The team consists of Jay Richardson (Vice President), Sebastian Bonilla (Mortgage Lender), and JeNise Colbert (Mortgage Processor). This strategic expansion strengthens BCT's presence in the Northern Virginia market. Jay Richardson brings 20+ years of mortgage experience and ranks among top 200 lenders. Sebastian Bonilla specializes in serving the Hispanic community with 6 years of banking experience, while JeNise Colbert contributes 11 years of mortgage lending expertise.

Potomac Bancshares, Inc. (OTC:PTBS), the one bank holding company for Bank of Charles Town (BCT), has announced a quarterly dividend declaration. The Board of Directors made this decision during their October meeting. Shareholders of record on November 1, 2024, will receive a dividend of $0.12 per share, which is scheduled for payment on November 8, 2024. BCT, also known as The Community's Bank, continues its tradition of providing returns to its shareholders through this quarterly dividend payout.