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Potomac Bancshares, Inc. (PTBS) serves as the one bank holding company for Bank of Charles Town (BCT). Founded in 1871, BCT offers a variety of banking products and services through its main office and multiple branches. The bank provides commercial and residential loans, wealth management services, and more to individuals, businesses, and local municipalities. With a focus on building long-lasting client relationships, the bank continues to achieve steady growth and profitability. PTBS maintains a strong presence in the market with consistent dividends, strategic goals, and a commitment to delivering exceptional service.
Potomac Bancshares reported first-quarter results for 2023, achieving $2.042 million in earnings, or $0.49 per share, up from $1.669 million or $0.40 in Q1 2022. Total assets grew to $792.3 million, a 10.0% increase year-over-year. Total loans rose by 19.7% to $627.0 million, while deposits increased 10.9% to $704.7 million. The bank remains well-capitalized with a Tier 1 leverage capital ratio of 10.25%. However, the net interest margin declined slightly to 3.57%. CEO Alice P. Frazier highlighted a cautious approach in loan growth amid industry volatility. The Board declared a dividend of $0.09 per share payable on May 10, 2023.
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