POTOMAC BANCSHARES, INC. REPORTS 2024 THIRD QUARTER RESULTS
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.
Potomac Bancshares (OTC: PTBS) ha riportato utili per il terzo trimestre 2024 di $1,761 milioni ($0,42 per azione), rispetto a $1,729 milioni ($0,42 per azione) nel terzo trimestre 2023. Gli attivi totali hanno raggiunto $871,4 milioni, con un aumento del 7,6% su base annua. Punti salienti includono: una crescita del 20% negli attivi di gestione patrimoniale, un margine di interesse netto stabile al 3,21% e una crescita dei prestiti di $22,4 milioni (3,4%) nel terzo trimestre. L'azienda ha dichiarato un dividendo trimestrale di $0,12 per azione. L'utile netto da inizio anno è stato di $4,857 milioni ($1,17 per azione), in calo rispetto ai $5,554 milioni ($1,34 per azione) nello stesso periodo del 2023.
Potomac Bancshares (OTC: PTBS) reportó ganancias de $1.761 millones ($0.42 por acción) en el tercer trimestre de 2024, en comparación con $1.729 millones ($0.42 por acción) en el tercer trimestre de 2023. Los activos totales alcanzaron $871.4 millones, un aumento del 7.6% interanual. Aspectos destacados incluyen: un crecimiento del 20% en los activos de gestión de patrimonio, un margen de interés neto estable del 3.21%, y un crecimiento de préstamos de $22.4 millones (3.4%) en el tercer trimestre. La compañía declaró un dividendo trimestral de $0.12 por acción. La ganancia neta acumulada hasta la fecha fue de $4.857 millones ($1.17 por acción), una disminución respecto a $5.554 millones ($1.34 por acción) en el mismo periodo de 2023.
포토맥 뱅크쉐어스 (OTC: PTBS)는 2024년 3분기 수익이 $1,761만($0.42 per share)으로 2023년 3분기의 $1,729만($0.42 per share)과 비교된다고 보고했습니다. 총 자산은 $871.4백만에 도달하였으며, 전년 대비 7.6% 증가했습니다. 주요 하이라이트로는 자산 관리 자산이 20% 성장한 것, 순이자 마진이 3.21%로 안정적인 것, 3분기에 $22.4백만(3.4%)의 대출 성장이 포함됩니다. 회사는 주당 $0.12의 분기 배당금을 선언했습니다. 연간 누적 순이익은 $4,857만($1.17 per share)으로, 2023년 같은 기간의 $5,554만($1.34 per share)에서 감소하였습니다.
Potomac Bancshares (OTC: PTBS) a annoncé des bénéfices pour le troisième trimestre 2024 de 1,761 million $ (0,42 $ par action), contre 1,729 million $ (0,42 $ par action) au troisième trimestre 2023. Les actifs totaux ont atteint 871,4 millions $, soit une augmentation de 7,6 % d'une année sur l'autre. Points clés incluent : une croissance de 20 % des actifs de gestion de patrimoine, une marge d'intérêt nette stable de 3,21 % et une croissance des prêts de 22,4 millions $ (3,4 %) au 3ème trimestre. La société a déclaré un dividende trimestriel de 0,12 $ par action. Le bénéfice net depuis le début de l'année était de 4,857 millions $ (1,17 $ par action), en baisse par rapport à 5,554 millions $ (1,34 $ par action) au cours de la même période en 2023.
Potomac Bancshares (OTC: PTBS) berichtete für das 3. Quartal 2024 von einem Gewinn von 1,761 Millionen $ (0,42 $ pro Aktie), im Vergleich zu 1,729 Millionen $ (0,42 $ pro Aktie) im 3. Quartal 2023. Die Gesamtvermögenswerte erreichten 871,4 Millionen $, ein Anstieg von 7,6 % im Jahresvergleich. Wichtige Höhepunkte sind: 20 % Wachstum bei den Vermögensverwaltungsvermögen, stabiler netto Zinsmarge von 3,21 % und ein Kreditwachstum von 22,4 Millionen $ (3,4 %) im 3. Quartal. Das Unternehmen erklärte eine vierteljährliche Dividende von 0,12 $ pro Aktie. Das Nettoergebnis seit Jahresbeginn betrug 4,857 Millionen $ (1,17 $ pro Aktie), ein Rückgang gegenüber 5,554 Millionen $ (1,34 $ pro Aktie) im gleichen Zeitraum 2023.
- Q3 2024 earnings increased to $1.761M from $1.729M in Q3 2023
- Total assets grew 7.6% YoY to $871.4M
- Wealth management assets increased over 20% during Q3
- Commercial loan growth of $28.4M YoY
- Noninterest-bearing deposits up 8.1% YoY
- YTD net income declined to $4.857M from $5.554M YoY
- ROA decreased to 0.78% from 0.96% YoY
- ROE declined to 9.69% from 12.02% YoY
- Net interest margin decreased to 3.20% from 3.36% YoY
- Recorded $300K after-tax investment security loss in Q2 2024
Net income was
Alice P. Frazier, CEO and President commented, "This quarter's results reflect a number of successes by the BCT team for which we are proud. We celebrated substantial wins with BCT Wealth accounts that grew assets under management over
Selected Highlights
- Total assets as of Q3 2024 were
$871.4 million $809.6 million $61.8 million 7.6% . - Return on Assets (ROA) for the nine months ended September 30, 2024, was
0.78% compared to0.96% for the same period in 2023. - Return on Equity (ROE) for the nine months ended September 30, 2024, was
9.69% compared to12.02% for the same period in 2023. - Net interest income was
$19.9 million $19.2 million - Net interest margin for the first nine months of 2024 was
3.20% compared to3.36% for the same period in 2023.
Linked Quarter Q3 2024 Compared to Q2 2024 Highlights
- Total assets as of Q3 were
$871.4 $832.5 million $38.9 million 4.7% . - Loan growth was
$22.4 million 3.4% for Q3 as pipelines continue to build with strategically planned growth in government contracting and SBA lending. - Net unrealized losses in the AFS portfolio in Q3 decreased
$2.6 million $5.8 million $8.4 million - Deposits increased
$9.7 million 1.3% from Q2.- Noninterest-bearing deposits increased
$3.7 million 2.2% , and interest-bearing deposits increased$6.0 million 1.0% . - Deposits were inflated during Q3 by
$40 million
- Noninterest-bearing deposits increased
- The Tier 1 leverage capital ratio for BCT was
9.67% as of Q3 and9.99% as of Q2. For the Company, the tangible equity / tangible assets ratio was8.32% as of Q3 compared to8.33% as of Q2. - The net interest margin remained stable at
3.21% for Q3 and Q2 . See Table 4 for additional details.- The yield on loans increased 15 basis points (bps) to
5.29% . - The cost of interest-bearing deposits increased 12 bps to
2.41% . The cost of interest-bearing deposits was impacted this quarter by a single large deposit that was disbursed on September 30, 2024.
- The yield on loans increased 15 basis points (bps) to
- The allowance for credit losses was
1.03% and1.04% of total loans outstanding as of Q3 and Q2, respectively. - Non-performing assets as a percentage of total assets was
0.30% for Q3 and0.36% in Q2. The decrease is due to one nonaccrual relationship settled with no loss of income or principal. - Non-interest income improved in Q3 by
$23 thousand 1.3% from Q2. Wealth and Investments advisory fees grew18.9% during the quarter primarily due to the growth in new accounts. See Table 3 for additional details.- The increase in other operating income is due to increases in equity securities market values and fee income from negotiated contracts.
- Non-interest expense was
$6.3 million $289 thousand $386 thousand 4.8% from Q2. The increase is primarily in salary and employee benefits and other operating expenses which included multiple one-time expenses as noted below. See Table 3 for additional details.- Salary and employee benefits were up due to increased incentive-related expenses partially offset by lower payroll tax expenses.
- Computer services and communications decreased as a result of contract negotiations that were completed in June 2024.
- Professional fees included one-time recruiting expenses of approximately
$70 thousand - Other operating expenses increased primarily due to losses related to fraudulent checks of
$174 thousand
Q3 2024 Compared to Q3 2023 Highlights
- Commercial loan growth of
$28.4 million $3.9 million $3.8 million $36.0 million 5.5% .- Non-owner-occupied office property loans were
$38.4 million 5.7% of the total loan portfolio as of Q3 2024. As of Q3 2023, non-owner-occupied office property loans were$45.1 million 6.9% of the total loan portfolio. Most of the office property loans are for main street small offices.
- Non-owner-occupied office property loans were
- The incremental restructurings of the investment portfolio over the past year increased the portfolio yield by 56 bps to
3.11% while duration decreased to 3.60 as of Q3 2024 compared to 4.18 as of Q3 2023.- Net unrealized losses in the AFS portfolio were
$5.8 million $11.9 million
- Net unrealized losses in the AFS portfolio were
- Total deposits increased
$28.5 million 4.0% . Noninterest-bearing deposits were up$13.0 million 8.1% , while interest-bearing deposits were up$15.5 million 2.8% . - The Tier 1 leverage capital ratio for BCT was
9.67% as of Q3 2024 compared to9.93% as of Q3 2023. For the Company, the tangible equity / tangible assets ratio was8.32% as of Q3 2024 and7.75% as of Q3 2023. - Net interest margin remained relatively stable at
3.21% for Q3 2024 compared to3.23% in Q3 2023. See Table 4 for additional details.- The earning asset yield increased 45 bps to
5.07% in Q3 2024 compared to4.62% as of Q3 2023. - The cost of interest-bearing deposits increased 58 bps in Q3 2024 to
2.41% compared to1.83% as of Q3 2023. The cost of interest-bearing deposits was impacted this quarter by a single large deposit that was disbursed on September 30, 2024.
- The earning asset yield increased 45 bps to
- The allowance for credit losses was
1.03% of total loans outstanding as of Q3 2024 and1.04% as of Q3 2023. - Non-performing assets as a percentage of total assets was
0.30% as of Q3 2024 and0.33% as of Q3 2023. - Non-interest income for Q3 2024 was
$1.8 million $127 thousand 7.8% , compared to Q3 2023. As noted above, Wealth and Investments advisory fees increased13.4% from both assets under management and estate settlements. Other operating income increased by annual true-ups related to VISA marketing agreements which was partially offset by a decrease in secondary market fee income. See Table 3 for additional details. - Non-interest expense excluding loss on sales of securities was
$6.3 million $706 thousand 12.7% over Q3 2023. Increases are in salaries and employee benefits, computer services and communications, other professional services, and other operating expenses. See Table 3 for additional details.- Salary and employee benefits were higher as a result of new personnel supporting growth, incentives, and group insurance, partially offset by a reduction in pension and 401(k) expenses. Through contract negotiations, group insurance will be reduced by
20% in future quarters. - Computer services and communications were higher due to investments in technology in support of growth and business continuity offset by negotiated decreases in core services.
- Other professional services saw increases in audit & compliance, Wealth and Investments outsourcing associated with the growth of assets under management, and recruiting expenses.
- Other operating expenses increased due to check fraud losses, franchise taxes, and net adjustments in the Bank Tech Investment value.
- Salary and employee benefits were higher as a result of new personnel supporting growth, incentives, and group insurance, partially offset by a reduction in pension and 401(k) expenses. Through contract negotiations, group insurance will be reduced by
Dividend Announcement
At our October Board meeting, Potomac Bancshares, Inc.'s Board of Directors, declared a quarterly dividend of
About the Company
Founded in 1871, BCT - Bank of
Forward Looking Statements
Certain statements made in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that include projections, predictions, expectations, or beliefs about events or results or otherwise are not statements of historical facts, such as statements about the Company's growth strategy and deployment of capital. Although the Company believes that its expectations with respect to such forward-looking statements are based upon reasonable assumptions within the bounds of its existing knowledge of its business and operations, there can be no assurance that actual results, performance, or achievements of the Company will not differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ from those discussed in such forward-looking statements include, but are not limited to, the following: (1) general economic conditions, especially in the communities and markets in which the Company conducts its business; (2) credit risk, including risk that negative credit quality trends may lead to a deterioration of asset quality, risk that our allowance for credit losses may not be sufficient to absorb actual losses in the Company's loan portfolio, and risk from concentrations in the Company's loan portfolio; (3) changes in the real estate market, including the value of collateral securing portions of the Company's loan portfolio; (4) changes in the interest rate environment; (5) operational risk, including cybersecurity risk and risk of fraud, data processing system failures, and network breaches; (6) changes in technology and increased competition, including competition from non-bank financial institutions; (7) changes in consumer preferences, spending and borrowing habits, demand for our products and services, and customers' performance and creditworthiness; (8) difficulty growing loan and deposit balances; (9) the Company's ability to effectively execute its business plan; (10) changes in regulations, laws, taxes, government policies, monetary policies and accounting policies affecting bank holding companies and their subsidiaries, including changes in deposit insurance premiums; (11) deterioration in the financial condition of the
CONSOLIDATED FINANCIAL HIGHLIGHTS | |||||||
POTOMAC BANCSHARES, INC. | |||||||
Table 1 | |||||||
Nine Months | |||||||
(Unaudited - dollars in thousands, except per share data) | |||||||
September 30, 2024 | September 30, 2023 | ||||||
Earnings Performance | |||||||
Interest and dividend income | |||||||
Interest expense | 10,889 | 6,533 | |||||
Net interest income | 19,911 | 19,223 | |||||
Provision for credit losses | 511 | 222 | |||||
Non-interest income | 5,111 | 4,637 | |||||
Non-interest expense | 18,265 | ** | 16,474 | *** | |||
Income Before Income Tax Expense | 6,246 | 7,164 | |||||
Income tax expense | 1,389 | 1,610 | |||||
Net Income | |||||||
Return on average equity | 9.69 % | 12.02 % | |||||
Return on average assets | 0.78 % | 0.96 % | |||||
Net interest margin | 3.20 % | 3.36 % | |||||
September 30, 2024 | September 30, 2023 | ||||||
Balance Sheet Highlights | |||||||
Total assets | |||||||
Investment securities | 82,369 | 82,575 | |||||
Loans held for sale | 1,219 | 2,159 | |||||
Loans, net of allowance for credit losses of | 679,558 | 643,921 | |||||
Deposits | 749,750 | 721,253 | |||||
Long term FHLB borrowings | 31,000 | 6,000 | |||||
Subordinated debt, net of issuance costs | 9,942 | 9,882 | |||||
Shareholders' equity | |||||||
September 30, 2024 | September 30, 2023 | ||||||
Shareholders' Value (per share) | |||||||
Earnings per share, basic | |||||||
Earnings per share, diluted | |||||||
Cash dividends declared (per share) | 0.34 | 0.28 | |||||
Book value at period end (per share) | |||||||
End of period number of shares outstanding | 4,144,561 | 4,144,561 | |||||
September 30, 2024 | September 30, 2023 | ||||||
Safety and Soundness | |||||||
Tier 1 capital ratio (leverage ratio)* | 9.67 % | 9.93 % | |||||
Tangible Equity/Tangible Assets | 8.32 % | 7.75 % | |||||
Non-performing assets as a percentage of | |||||||
total assets including OREO | 0.30 % | 0.33 % | |||||
Allowance for credit losses as a percentage of | |||||||
period end loans | 1.03 % | 1.04 % | |||||
Ratio of net charge offs (recoveries) annualized during the period to | |||||||
average loans outstanding during the period | 0.006 % | -0.005 % | |||||
* The capital ratio presented is for Bank of |
** Non-Interest Expense includes the Loss on Sale of AFS Securities of |
*** Non-Interest Expense includes the Loss on Sale of AFS Securities of |
CONSOLIDATED FINANCIAL HIGHLIGHTS | ||||||||||||
POTOMAC BANCSHARES, INC. | ||||||||||||
TABLE 2 | Quarterly Financial Data | |||||||||||
Three Months Ended | ||||||||||||
(Unaudited - dollars in thousands, except per share data) | ||||||||||||
9/30/2024 | 6/30/2024 | 3/31/2024 | 12/31/2023 | 9/30/2023 | ||||||||
Earnings Performance | ||||||||||||
Interest and dividend income | ||||||||||||
Interest expense | 4,012 | 3,521 | 3,356 | 3,034 | 2,752 | |||||||
Net interest income | 6,953 | 6,567 | 6,391 | 6,793 | 6,424 | |||||||
Provision for credit losses | 202 | 129 | 180 | - | - | |||||||
Non-interest income | 1,760 | 1,737 | 1,614 | 1,662 | 1,633 | |||||||
Non-interest expense | 6,253 | 6,350 | **** | 5,662 | 6,266 | ** | 5,821 | *** | ||||
Income Before Income Tax Expense | 2,258 | 1,825 | 2,163 | 2,189 | 2,236 | |||||||
Income tax expense | 497 | 404 | 488 | 479 | 507 | |||||||
Net Income | ||||||||||||
Return on average equity | 10.75 % | 9.73 % | 10.00 % | 11.21 % | 11.86 % | |||||||
Return on average assets | 0.86 % | 0.79 % | 0.81 % | 0.85 % | 0.93 % | |||||||
Net interest margin | 3.21 % | 3.21 % | 3.16 % | 3.29 % | 3.23 % | |||||||
9/30/2024 | 6/30/2024 | 3/31/2024 | 12/31/2023 | 9/30/2023 | ||||||||
Balance Sheet Highlights | ||||||||||||
Total assets | ||||||||||||
Investment securities | 82,369 | 83,476 | 84,972 | 84,127 | 82,575 | |||||||
Loans held for sale | 1,219 | 1,396 | 2,210 | 678 | 2,159 | |||||||
Loans, net of allowance for credit losses | 679,558 | 657,188 | 648,804 | 644,687 | 643,921 | |||||||
Deposits | 749,750 | 740,096 | 762,927 | 739,680 | 721,253 | |||||||
Long term FHLB borrowings | 31,000 | 6,000 | 6,000 | 6,000 | 6,000 | |||||||
Subordinated debt, net of issuance costs | 9,942 | 9,927 | 9,912 | 9,897 | 9,882 | |||||||
Shareholders' equity | ||||||||||||
9/30/2024 | 6/30/2024 | 3/31/2024 | 12/31/2023 | 9/30/2023 | ||||||||
Shareholders' Value (per share) | ||||||||||||
Earnings per share, basic | ||||||||||||
Earnings per share, diluted | ||||||||||||
Cash dividends declared (per share) | 0.12 | 0.12 | 0.10 | 0.10 | 0.10 | |||||||
Book value at period end (per share) | ||||||||||||
End of period number of shares outstanding | 4,144,561 | 4,144,561 | 4,144,561 | 4,144,561 | 4,144,561 | |||||||
9/30/2024 | 6/30/2024 | 3/31/2024 | 12/31/2023 | 9/30/2023 | ||||||||
Safety and Soundness | ||||||||||||
Tier 1 capital ratio (leverage ratio)* | 9.67 % | 9.99 % | 9.98 % | 9.77 % | 9.93 % | |||||||
Tangible Equity/Tangible Assets | 8.32 % | 8.33 % | 7.92 % | 8.05 % | 7.75 % | |||||||
Non-performing assets as a percentage of | ||||||||||||
total assets including OREO | 0.30 % | 0.36 % | 0.32 % | 0.32 % | 0.33 % | |||||||
Allowance for credit losses as a percentage of | ||||||||||||
period end loans | 1.03 % | 1.04 % | 1.04 % | 1.02 % | 1.04 % | |||||||
Ratio of net (recoveries) charge offs annualized during the period to | ||||||||||||
average loans outstanding during the period | -0.022 % | 0.029 % | 0.013 % | 0.046 % | 0.004 % | |||||||
* The capital ratio presented is for Bank of |
** Includes |
*** Includes |
**** Includes |
CONSOLIDATED FINANCIAL HIGHLIGHTS | |||||||||||
POTOMAC BANCSHARES, INC. | |||||||||||
Noninterest Income & Noninterest Expense | |||||||||||
TABLE 3 | Three Months Ended | ||||||||||
(Unaudited - dollars in thousands) | |||||||||||
9/30/2024 | 6/30/2024 | 3/31/2024 | 12/31/2023 | 9/30/2023 | |||||||
Noninterest Income: | |||||||||||
Wealth and Investments | |||||||||||
Service charges on deposit accounts | 273 | 265 | 246 | 254 | 266 | ||||||
Secondary market income | 170 | 274 | 196 | 140 | 223 | ||||||
Interchange fees | 522 | 520 | 493 | 506 | 515 | ||||||
Other operating income | 281 | 246 | 261 | 291 | 176 | ||||||
Total Noninterest Income | |||||||||||
Noninterest Expenses: | |||||||||||
Salaries and employee benefits | |||||||||||
Net occupancy expense of premises | 278 | 266 | 276 | 256 | 261 | ||||||
Furniture and equipment expenses | 353 | 367 | 367 | 341 | 349 | ||||||
Advertising and public relations | 103 | 116 | 68 | 92 | 105 | ||||||
Computer services and communications | 486 | 535 | 529 | 485 | 486 | ||||||
Other professional services | 442 | 429 | 348 | 410 | 329 | ||||||
ATM and check card expenses | 248 | 263 | 249 | 258 | 243 | ||||||
Loss on sale of AFS securities | - | 386 | - | 154 | 274 | ||||||
Other operating expenses | 1,041 | 791 | 841 | 922 | 691 | ||||||
Total Noninterest Expenses | |||||||||||
Total Noninterest Expenses | |||||||||||
Excluding loss on sale of AFS securities | |||||||||||
CONSOLIDATED FINANCIAL HIGHLIGHTS | ||||||||||||
POTOMAC BANCSHARES, INC. | ||||||||||||
AVERAGE BALANCE SHEET, INTEREST AND RATES | ||||||||||||
TABLE 4 | ||||||||||||
Three Months Ended | Three Months Ended | Three Months Ended | ||||||||||
(Unaudited - dollars in thousands) | 9/30/2024 | 6/30/2024 | 9/30/2023 | |||||||||
ASSETS: | Average | Interest | Average | Average | Interest | Average | Average | Interest | Average | |||
Interest Earning Assets: | ||||||||||||
Loans: | ||||||||||||
Loans held for sale | $ 1,178 | $ 21 | 7.09 % | $ 1,775 | $ 30 | 6.80 % | $ 1,856 | $ 30 | 6.41 % | |||
Portfolio loans (1) | 675,868 | 8,985 | 5.29 % | 654,120 | 8,361 | 5.14 % | 648,910 | 8,063 | 4.93 % | |||
Available for sale securities (2) | 89,854 | 707 | 3.13 % | 92,975 | 724 | 3.13 % | 94,677 | 545 | 2.28 % | |||
Federal Reserve | 91,497 | 1,206 | 5.24 % | 70,581 | 926 | 5.28 % | 40,476 | 498 | 4.88 % | |||
Other interest earning assets | 2,708 | 46 | 6.76 % | 2,172 | 47 | 8.70 % | 2,311 | 40 | 6.87 % | |||
Total Interest Earning Assets | 861,105 | 5.07 % | 821,623 | 4.94 % | 788,230 | 4.62 % | ||||||
Other Assets | 22,984 | 19,997 | 17,485 | |||||||||
Total Assets | $ 884,089 | |||||||||||
Liabilities and Stockholders' Equity | ||||||||||||
Interest-bearing liabilities: | ||||||||||||
Interest-bearing Deposits | $ 601,792 | $ 3,648 | 2.41 % | $ 3,307 | 2.29 % | 1.83 % | ||||||
Federal Funds and repurchase agreements | 3,215 | 7 | 0.87 % | 3,706 | 7 | 0.76 % | 5,232 | 10 | 0.76 % | |||
Subordinated debt | 9,933 | 140 | 5.61 % | 9,918 | 140 | 5.68 % | 9,873 | 139 | 5.59 % | |||
FHLB advances | 20,402 | 217 | 4.23 % | 6,000 | 67 | 4.49 % | 6,011 | 68 | 4.49 % | |||
Total Interest-Bearing Liabilities | 635,342 | $ 4,012 | 2.51 % | 601,411 | $ 3,521 | 2.35 % | 571,540 | 1.91 % | ||||
Non-interest-bearing deposits and other liabilities | 178,110 | 172,221 | 171,033 | |||||||||
Total Liabilities | 813,452 | 773,632 | 742,573 | |||||||||
Stockholders' Equity | 70,637 | 67,988 | 63,142 | |||||||||
Total Liabilities and Stockholders' Equity | $ 884,089 | |||||||||||
Interest Rate Spread | 2.56 % | 2.59 % | 2.71 % | |||||||||
Net Interest Income | $ 6,953 | $ 6,567 | ||||||||||
Net Interest Margin | 3.21 % | 3.21 % | 3.23 % | |||||||||
(1) Total loan interest income includes amortization of deferred loan fees, net of deferred loan costs. |
(2) Average balances exclude unrealized gains/losses. |
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SOURCE Potomac Bancshares, Inc.
FAQ
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