secwatch.observer — SEC 8-K summary
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Issuer:     Village Bank & Trust Financial Corp. (—)
CIK:        0001290476
Form:       8-K
Filed at:   2024-04-26T23:59:59+00:00
Accession:  0001558370-24-005834
Event type: earnings
Sentiment:  positive
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1290476/000155837024005834/0001558370-24-005834-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1290476/000155837024005834/vbfc-20240426x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-24-005834

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