VBFC Q1 net income $1.77M ($1.19 EPS) vs $1.54M ($1.04) YoY

Village Bank & Trust Financial Corp.

2024-Q1 EPS reported $1.19 revenue$10,939,000

Net income $1,772,000 ($1.19 diluted EPS) up 15% from $1,540,000 ($1.04) in Q1 2023.
Net interest margin compressed 7 bps to 3.72% from 3.79% due to higher deposit costs offset by higher asset yields.
Commercial Banking net income $1,703,000 vs $1,858,000; Mortgage Banking turned profitable at $69,000 vs loss of $318,000.
Core loans grew 2.84% from Q4 2023 and 9.58% from Q1 2023; deposits up 2.47% from Q4.
Provision for credit losses $150,000 vs $0; nonperforming loans ratio improved to 0.05% from 0.12% YoY.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Village Bank & Trust Financial Corp. reported the first quarter of 2024 results: net income $1,772,000, EPS $1.19 per fully diluted share.

Period: the first quarter of 2024
Net income: $1,772,000
EPS: $1.19 per fully diluted share
Result: reported results

Exact text from the filing

Net income for the first quarter of 2024 was $1,772,000, or $1.19 per fully diluted share, compared to net income for the first quarter of 2023 of $1,540,000, or $1.04 per fully diluted share.

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Source: SEC EDGAR

accession 0001558370-24-005834

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