Bank of the James Q2 net income rises 14% to $2.29M; declares $0.07 dividend and $500K buyback

BANK OF THE JAMES FINANCIAL GROUP INC

2022-Q2 EPS reported $0.93 revenue$1,250,000

Net income Q2 2022 $2.29M ($0.48/sh) vs $2.01M ($0.42/sh) in Q2 2021; record quarterly earnings.
Net interest income after recovery of loan losses: Q2 $7.4M (+10% YoY); first half $14.1M.
Loan portfolio grew ~$18M in Q2 to $607.32M; nonperforming loans only 0.14% of total loans.
Board declared $0.07/sh quarterly dividend (payable Sept 16, 2022) and approved $500K stock repurchase plan.
Book value per share fell to $11.25 from $14.05 due to $21.26M unrealized loss on securities portfolio.

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