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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, Inc. (OTC:PTBS) has announced a quarterly dividend of $0.09 per share, declared during the April Board meeting. This dividend will benefit all shareholders on record by May 3, 2023, with a payment date set for May 10, 2023. Founded in 1871, the Bank of Charles Town, a subsidiary of Potomac Bancshares, holds approximately $756 million in assets as of December 31, 2022. With multiple branches and a comprehensive range of banking services, including access to over 55,000 ATMs and various loan products, BCT has been recognized for its service excellence, winning multiple awards in recent years. This dividend declaration reflects the Company’s commitment to providing income to its shareholders while maintaining a strong financial position.
BCT - Bank of Charles Town (OTC:PTBS) has appointed Krystle Burkhart as the new Commercial Business Development Officer. This strategic role focuses on acquiring new commercial clients and enhancing relationships with existing ones in the Eastern Panhandle of West Virginia. Burkhart brings over 20 years of banking experience, most recently serving 17 years at Truist as Assistant Vice President. The appointment is aimed at strengthening BCT's position as a community bank of choice. Burkhart's community involvement and banking expertise is expected to enhance the bank's outreach and service offerings. BCT, with approximately $756 million in assets as of December 31, 2022, continues to provide diverse banking services through its multiple locations.
BCT-Bank of Charles Town (OTC:PTBS) has appointed Sandy Hamilton to its Advisory Board for the Eastern Panhandle of West Virginia. With extensive experience as the former Executive Director of the Berkeley County Development Authority, Hamilton will provide strategic insights to expand BCT's market share in Berkeley County and beyond. Her recognitions include the 2022 Citizen of the Year by the Martinsburg-Berkeley County Chamber of Commerce. BCT continues to grow, with approximately $756 million in assets as of December 31, 2022, and aims to enhance community banking services through local expertise.
BCT-Bank of Charles Town (OTC:PTBS) has appointed Raul "Danny" Vargas to its Loudoun County Advisory Board, effective February 10, 2023. The board, composed of local leaders, aims to provide strategic insights into the Loudoun and Northern Virginia markets. Vargas, founder of VARCom Solutions, brings extensive experience from roles at AOL and France Telecom and a notable background in civic engagement. BCT President Alice Frazier expressed optimism about Vargas's contribution, highlighting his success in cross-cultural initiatives. As of December 31, 2022, BCT reported $756 million in assets and operates multiple branches across Virginia and West Virginia.
Potomac Bancshares (OTC: PTBS) reported a net income of $1.953 million ($0.47 per share) for Q4 2022, up from $1.848 million ($0.45 per share) in Q4 2021, but down from $2.084 million ($0.50 per share) in Q3 2022. The decrease in earnings was influenced by a $367 thousand loss on sales of lower-yielding securities. For the full year 2022, net income was $7.311 million ($1.77 per share), down from $7.570 million ($1.83 per share) in 2021. Total assets rose to $756.1 million, and total loans increased by 20.4% year-over-year. The bank declared a $0.09 per share dividend payable on February 10, 2023.
BCT-Bank of Charles Town, trading under the symbol PTBS, announced that its President and CEO, Alice Frazier, has been appointed to the Board of Directors of the Federal Reserve Bank of Richmond for the term 2023-2025. This prestigious role underscores the significance of community banks in fostering robust communities. Frazier has over 32 years of banking experience and holds various leadership positions across several boards. BCT, established in 1871, has approximately $771 million in assets, operates multiple offices, and offers a wide range of banking products. The Bank received multiple awards in 2022, highlighting its excellence in service.
BCT-Bank of Charles Town (OTC: PTBS) has been recognized as a recipient of the 2022 Best of the Best Readers' Choice Awards in three categories: Bank, Loan Service, and Financial Service/Planning Company. This recognition, based on community votes, highlights the bank's commitment to customer satisfaction and quality service. With approximately $771 million in assets as of September 30, 2022, BCT operates multiple branches across Virginia, Maryland, and West Virginia, offering a wide range of banking and financial services.
Potomac Bancshares, Inc. (OTC: PTBS) reported Q3 2022 net income of $2.084 million, or $0.50 per share, down from $2.212 million, or $0.54 in Q3 2021. Year-to-date net income is $5.358 million, compared to $5.722 million in 2021. Total assets grew 10.1% to $771.3 million, while total loans increased 16.7% to $598.4 million. Despite strong loan growth, net interest margin improved to 3.49%. A $225,000 loan loss provision was recorded this quarter. A dividend of $0.09 per share was declared, payable on November 9, 2022.
The Board of Directors of Potomac Bancshares, Inc. (OTC:PTBS) announced a quarterly dividend of $0.09 per share during its October meeting. This dividend applies to all shareholders of record on November 2, 2022, with the payment scheduled for November 9, 2022. As of June 30, 2022, the company reported approximately $739 million in assets and operates through Bank of Charles Town, serving multiple locations in West Virginia, Maryland, and Virginia.
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