Bank of the James reports record annual net income of $7.59M; Q4 EPS $0.39

BANK OF THE JAMES FINANCIAL GROUP INC

2021-FY EPS reported $1.60 revenue$2,496,000

Net income $7.59M ($1.60 diluted EPS) in 2021 vs $4.98M ($1.04) in 2020; Q4 net income $1.86M ($0.39) vs $1.71M ($0.36).
No loan loss provision in 2021; $500K recovery in Q4; nonperforming loans ratio 0.16%.
Total deposits grew 16% to $887.1M; core deposits 83% of total.
Declared $0.07/share quarterly dividend payable Mar 18, 2022 to holders of record Mar 4.
Completed acquisition of Pettyjohn, Wood & White (investment advisor, $650M AUM) on Dec 31, 2021 for $10.5M.

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