Welcome to our dedicated page for SVB & T news (Ticker: SVBT), a resource for investors and traders seeking the latest updates and insights on SVB & T stock.
SVB & T Corp (SVBT) delivers community-focused banking services through its subsidiary Springs Valley Bank & Trust Company. This news hub provides investors and stakeholders with timely updates on financial performance, strategic initiatives, and operational developments.
Access press releases, earnings reports, and analysis covering SVBT’s retail/commercial banking services, loan portfolio management, and financial advisory offerings. Track updates on leadership changes, regulatory compliance, and community partnerships that shape this regional institution’s trajectory.
Key coverage areas include quarterly earnings, acquisitions, product launches, and community reinvestment programs. All content undergoes rigorous verification to ensure accuracy and relevance for informed decision-making.
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SVB&T Corporation (OTCQX:SVBT) reported unaudited fourth quarter earnings for 2022 of $1.43 million, or $1.30 EPS, representing a 17.12% increase year-over-year. The return on average assets stood at 1.06%, up from 0.98% a year earlier. A quarterly dividend of $0.18 was declared, reflecting a 12.50% annualized increase. Net interest income for Q4 was $4.87 million, a rise from $4.73 million the previous year, driven by increased loan balances amid a higher rate environment. Total assets grew by $70.47 million to $560.57 million, and total loans increased by $65.82 million. YTD earnings were $6.35 million, down 13.73% from 2021, amidst rising interest expenses.
SVB&T Corporation (OTCQX:SVBT) reported Q3 2022 earnings of $1.62 million, down 15.52% year-over-year, translating to $1.47 per share. Return on average assets (ROAA) decreased to 1.23%. This decline is mainly due to the cessation of the SBA's Paycheck Protection Program and rising interest rates affecting mortgage lending. Total assets grew to $522.14 million, while total loans increased to $425.05 million. The Board declared a quarterly dividend of $0.16 per share, reflecting an 18.52% annualized increase. Noninterest expenses rose significantly, impacting net earnings.
SVB&T Corporation (OTCQX:SVBT) reported unaudited second quarter earnings of $1.52 million or $1.38 EPS, reflecting a 24.59% drop from the previous year's quarter. The return on average assets (ROAA) decreased to 1.16% compared to 1.61% in Q2 2021. The decline is linked to the end of the SBA's Paycheck Protection Program and rising interest rates affecting mortgage lending. Total assets rose to $519.12 million, while loans increased to $414.82 million. The Board declared a quarterly dividend of $0.16 per share, an 18.52% annualized increase from 2021.
SVB&T Corporation has appointed J. Craig Buse as a Board Director for both the corporation and Springs Valley Bank & Trust Company, effective May 18, 2022. This move is part of the formal succession plan as President & CEO Jamie Shinabarger prepares for retirement at the end of 2024. Buse, who joined Springs Valley in 2002, brings over two decades of banking experience and will help oversee policy establishment and annual budget approvals. His accolades include the Rising Star award and recognition as one of Banking Exchange's 20 Under 40.
SVB&T Corporation (OTCQX:SVBT) announced a quarterly dividend of $0.16 per share, to be paid on or about July 15, 2022, for shareholders of record as of June 15, 2022. This dividend reflects an 18.52% annualized increase compared to the previous fiscal year, adjusted for the recent stock split.
The company operates Springs Valley Bank & Trust Company, offering a variety of financial services in multiple counties.
