Potomac Bancshares Inc - PTBS STOCK NEWS

BCT - Bank of Charles Town (OTC:PTBS) has been designated as a Small Business Administration (SBA) Preferred Lender, marking a significant milestone as the first West Virginia chartered bank to receive this approval. This status allows BCT to directly approve SBA loan applications, streamlining the process for small business owners. The bank's expertise and established relationship with the SBA were crucial factors in this designation, aiming to enhance customer experience and facilitate faster funding for local businesses.

BCT-Bank of Charles Town (OTC:PTBS) has announced its commitment as an early investor in BankTech Ventures, a new venture capital fund aimed at supporting community banks through banking technology investments and education. The fund, targeting $150-200MM, has already secured $55MM from 60 initial partners. The collaboration is set to enhance BCT's ability to adopt emerging technologies while offering lower-cost research and development opportunities. BCT’s leadership views this partnership as crucial for maintaining competitiveness in the fast-evolving banking sector.

BCT-The Community's Bank has appointed Paul W. Bice as Executive Vice President and Regional President to drive growth in Northern Virginia for commercial lending. Mr. Bice brings over 35 years of banking experience and a strong record in commercial banking. His previous roles include Regional President at John Marshall Bank and Senior Vice President at James Monroe Bank. BCT, founded in 1871, has about $701 million in assets and operates multiple branch offices in West Virginia and Virginia, offering various banking services.

Potomac Bancshares, Inc. (OTC: PTBS) reported Q3 2021 net income of $2.212 million, or $0.54 per share, up from $1.098 million or $0.27 per share in Q3 2020. This increase was aided by a $490 thousand negative loan loss provision. Year-to-date, net income reached $5.722 million, compared to $2.643 million in the same period last year. Total assets grew by 11% to $700.5 million, with loans increasing 7.5% to $512.8 million. The company declared a $0.08 dividend per share, payable on November 9, 2021. Return on Assets (ROA) improved to 1.13% from 0.61% a year ago.

The Board of Directors of Potomac Bancshares declared a quarterly dividend of $0.08 per share at their October board meeting. This dividend will be distributed to shareholders of record on November 2, 2021, with a payment date set for November 9, 2021. Potomac Bancshares, the parent company of Bank of Charles Town (BCT), reported approximately $672 million in assets as of June 30, 2021, and has a history of over 150 years in service. The bank aims to provide various banking products, including loans and wealth management services.

BCT-Bank of Charles Town (OTC: PTBS) announced the appointment of Frank Donadio as the new Branch Manager for its Harpers Ferry location. With over 13 years in financial services, including roles at PNC and Citibank, Donadio will oversee customer experience initiatives. BCT, founded in 1871, has approximately $672 million in assets and operates across several counties in West Virginia and Maryland, offering diverse banking services. The bank aims to enhance customer satisfaction under Donadio's leadership.

Potomac Bancshares, Inc. (OTC: PTBS) announced its participation in the Boenning & Scattergood investor forum on September 27, 2021. The company, which operates the Bank of Charles Town, has approximately $672 million in assets as of June 30, 2021, and provides a variety of banking services including ATMs access and online banking. Founded in 1871, Potomac Bancshares celebrates its 150th anniversary this year. Stakeholders can access the presentation on their Investor Relations website.

BCT - Bank of Charles Town (OTC:PTBS) has announced the successful completion of its "Pack the 'Pack" fundraising campaign, which raised $43,000 to provide 8,600 backpacks filled with food for local food-insecure school children. The campaign ran from July to August 2021, and the funds will be distributed through local backpack program charities. President Alice Frazier expressed pride in the community's support, noting that contributions exceeded initial goals. The initiative highlights the bank's commitment to addressing food insecurity in its service areas.