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The Victory Bancorp, Inc. (OTCQX: VTYB) is the parent company of The Victory Bank, a Pennsylvania state-chartered commercial bank headquartered in Limerick, Pennsylvania. Established in 2008, the bank specializes in providing high-quality banking services to small and mid-sized businesses and professionals. Despite challenging market conditions, Victory Bancorp has demonstrated resilience and growth, with strong lending practices and credit standards. The bank has seen a consistent increase in loans, deposits, and stockholders' equity, reflecting its commitment to sustainable growth and financial stability.
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The Victory Bancorp, Inc. welcomes Laurie E. Tolle, managing partner of Maillie LLP, to its Board of Directors. Tolle's extensive experience in accounting and professional services enhances the company's leadership. Victory Bancorp looks forward to her contributions to shape its future. The company is traded on the OTCQX market under the symbol VTYB.
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Victory Bancorp, Inc. (VTYB) reported a net income of $475 thousand for Q4 2023, with a total net income of $2.1 million for the year. Book value per common share increased to $14.18. The bank's assets grew to $442 million, while total net loans surged by 11.3% to $364.3 million. Despite interest rate increases affecting funding costs, the bank attracted valuable clients and increased loan portfolio. However, net interest income declined due to increased interest expenses. Non-performing assets increased to $2.2 million, primarily from two real estate-related credits. Pre-tax income decreased to $2.7 million, mainly due to rising funding costs from FOMC rate hikes.
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Victory Bancorp, Inc. (VTYB) declares a quarterly cash dividend of $0.0650 per outstanding share of common stock. The dividend payment will be made on February 15, 2024, to shareholders of record as of February 1, 2024. This marks the 23rd consecutive quarterly dividend payment for Victory Bancorp, reflecting the company's commitment to returning value to its shareholders.
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Victory Bancorp, Inc. (VTYB) declares a quarterly cash dividend of $0.0650 per outstanding share of common stock
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The Victory Bancorp, Inc. released unaudited results for Q3 2023. The bank experienced a decrease in assets, stable net interest margin, and a significant increase in net loans. Despite the volatility in market conditions and increasing interest rates, the bank maintained a strong credit picture and increased stockholders' equity.
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Victory Bancorp, Inc. (OTCQX:VTYB) has declared a quarterly cash dividend of $0.0650 per outstanding share of common stock. The dividend will be paid on or about September 11, 2023, to stockholders of record as of August 25, 2023. The Victory Bancorp, Inc. is the parent company of The Victory Bank, a specialized business lender providing banking services to small and mid-sized businesses and professionals in Pennsylvania.
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FAQ
What is the current stock price of Victory (VTYB)?
The current stock price of Victory (VTYB) is $10.25 as of February 25, 2025.
What is the market cap of Victory (VTYB)?
The market cap of Victory (VTYB) is approximately 20.9M.
What is Victory Bancorp, Inc. known for?
Victory Bancorp is known for being the parent company of The Victory Bank, a commercial bank that specializes in providing banking services to small and mid-sized businesses and professionals.
What are some recent achievements of Victory Bancorp?
Recently, Victory Bancorp reported significant loan growth, record numbers of deposit accounts, and an increase in stockholders' equity.
How is Victory Bancorp coping with market challenges?
Despite challenging market conditions, Victory Bancorp has maintained strong lending practices and credit standards, leading to sustainable growth and financial stability.
Where is Victory Bancorp headquartered?
Victory Bancorp is headquartered in Limerick, Pennsylvania, just outside the Philadelphia market in Montgomery County.
What sets The Victory Bank apart from other banks?
The Victory Bank stands out for its specialized focus on providing high-quality banking services to small and mid-sized businesses and professionals.
What is the stock symbol of Victory Bancorp, Inc.?
Victory Bancorp is traded on the OTCQX market under the symbol VTYB.
Who are the key executives at Victory Bancorp?
Key executives at Victory Bancorp include Joseph W. Major (Chairman and CEO), Robert H. Schultz (CFO, COO), and Kelly Taylor (Investor Relations).
What is the website of Victory Bancorp?
You can find additional information about Victory Bancorp on its website at VictoryBank.com.
How has Victory Bancorp addressed funding cost increases?
Victory Bancorp has navigated funding cost increases by focusing on attracting valuable clients, building a record loan portfolio, and expanding its base of deposit accounts.
What are some key financial highlights of Victory Bancorp?
Key financial highlights include an increase in assets, net income, book value per share, and strong performance in loans and deposits.
What are the core values of Victory Bancorp?
Victory Bancorp upholds core values of integrity, excellence, and commitment to providing top-notch banking services to its clients.
What is the focus of The Victory Bank?
The Victory Bank focuses on providing specialized banking services to small and mid-sized businesses, helping them achieve their financial goals and grow their businesses.
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