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SVB&T Corporation (SVBT) is the parent company of Springs Valley Bank & Trust Company. In the second quarter of 2023, the company reported unaudited earnings of $1.48 million or $1.35 EPS, with a return on average assets (ROAA) of 1.01%.
The corporation declared a quarterly dividend of $0.18 per share, representing a 12.50% annualized increase compared to 2022. Net interest income before provision expense increased to $4.47 million due to higher loan balances and interest rates. The company's book value per share stands at $52.37 as of June 30, 2023, a 9.47% increase.
Total assets have grown to $608.76 million, with total loans before allowance at $469.86 million. SVB&T continues strategic loan growth to balance funding needs amid the rising interest rate environment. The company is committed to noninterest income generation through its Financial Advisory Group, sold loan income, and electronic banking services.
SVB&T Corporation (OTCQX:SVBT) has announced a two-for-one stock split in the form of a stock dividend, set to pay on March 10, 2022, to shareholders recorded by March 1, 2022. This stock split will increase the outstanding shares from 550,072 to approximately 1.1 million. Additionally, the company declared a quarterly cash dividend of $0.16 per share (post-split), reflecting an 18.52% annualized increase over the previous fiscal year. The dividend will be payable on April 15, 2022, for shareholders recorded by March 18, 2022.
SVB&T Corporation (OTCQX:SVBT) reported unaudited Q4 2021 earnings of $1.22 million, or $2.20 EPS, reflecting an 8.71% decline year-over-year. The return on average assets (ROAA) fell to 0.98% from 1.10%. Net interest income remained stable at $4.73 million, while noninterest income decreased to $1.98 million. Year-to-date earnings reached a record $7.38 million, with an EPS of $13.36, up 54.81% from 2020. Total loans rose to $387.22 million, but total assets decreased to $490.10 million. The corporation continues to focus on mortgage origination and has authorized a $2 million share repurchase program.
SVB&T Corporation (OTCQX:SVBT) declared a quarterly dividend of $0.27 per share, payable on January 15, 2022, to shareholders of record as of December 15, 2021. This represents a 3.85% increase from the total dividend declared for the 2020 fiscal year. The bank provides a range of financial services through its subsidiary, Springs Valley Bank & Trust Company, operating in multiple counties in Indiana.
SVB&T Corporation (OTCQX:SVBT) reported a strong third quarter 2021, with unaudited earnings of $1.91 million, translating to $3.48 EPS, a 50.65% increase year-over-year. Net interest income rose to $4.75 million, up from $4.25 million in Q3 2020, driven by PPP loans and lower funding costs, leading to a net interest margin growth from 3.63% to 4.05%. Year-to-date earnings reached $6.16 million, a 79.42% increase over 2020. However, noninterest income saw a slight decline, and overall deposits decreased by $1.78 million.
Despite economic challenges, Springs Valley remains well-positioned for growth.
SVB&T Corporation (OTCQX:SVBT) announced unaudited Q2 2021 earnings of $2.0 million, equating to $3.67 EPS, a 49.19% year-over-year increase. The return on average assets (ROAA) improved to 1.61% from 1.14%. The board declared a quarterly dividend of $0.27 per share, up 3.85% annually. Net interest income rose to $4.7 million, with a significant contribution from PPP loans and lower funding costs. Year-to-date earnings reached $4.2 million, marking a 95.92% increase. However, noninterest expense rose by $579,000 due chiefly to higher salary and benefits.
SVB&T Corporation (OTCQX:SVBT) announced a quarterly dividend of $0.27 per share, payable on or about July 15, 2021 to shareholders of record as of June 15, 2021. This dividend represents a 3.85% annualized increase compared to the total dividend declared for the 2020 fiscal year. The company operates Springs Valley Bank & Trust Company, providing full banking and financial services across multiple counties in Indiana.
SVB&T Corporation (OTCQX:SVBT) reported record earnings of $2.2 million or $4.01 EPS for Q1 2021, reflecting a 174.66% increase year-over-year. The return on average assets (ROAA) rose to 1.79% from 0.72% in the previous year. Net interest income increased to $4.6 million driven by growth in earning assets and reduced funding costs. Noninterest income also grew by approximately $647,000. The bank's total assets reached $499.2 million and total loans increased by $8.8 million. The company continues to prioritize community housing needs and PPP lending.
SVB&T Corporation has appointed James G. McDonald III as a new Board Director for both the corporation and Springs Valley Bank & Trust Company, effective March 16, 2021. McDonald, who has run a law practice for 34 years, brings extensive knowledge of the Gibson County market, which is expected to bolster the bank's operations in the area. His participation aims to enhance policy establishment, executive reviews, and budget approvals to drive customer-first initiatives.
SVB&T Corporation (OTCQX:SVBT) has initiated a $2 million share repurchase plan to enhance return on equity and earnings per share, as well as provide shareholder liquidity. The company will buy back shares as they become available, assessing market conditions and performance. This plan aligns with satisfying awards under the 2019 Equity Incentive Plan and may be adjusted or suspended at management's discretion. Shareholders are encouraged to consult financial advisors for more information on buying or selling shares.
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