secwatch.observer — SEC 8-K summary
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Issuer:     BANK OF THE JAMES FINANCIAL GROUP INC (BOTJ)
CIK:        0001275101
Form:       8-K
Filed at:   2022-10-21T23:59:59+00:00
Accession:  0001562762-22-000392
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Bank of the James posts record Q3 net income of $2.57M, EPS $0.55, up 37% YoY
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- Q3 2022 net income $2.57M ($0.55 diluted EPS) vs. $1.88M ($0.40) in Q3 2021; nine-month net income $7.01M ($1.48) vs. $5.73M ($1.21).
- Net interest income rose 16% YoY to $7.9M in Q3; net interest margin expanded to 3.43% from 2.93% a year earlier.
- Quarterly dividend increased 14% to $0.08/share, payable Dec 9, 2022 to holders of record Nov 25, 2022.
- Repurchased 112,000 shares in Q3 for $1.4M (avg. $12.51/share); book value fell to $10.44 from $14.65 due to AFS securities mark-to-market.
- Asset quality strong: NPL/total loans 0.13%, allowance to loans 1.03%, and $300K recovery of loan losses in Q3.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1275101/000156276222000392/0001562762-22-000392-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1275101/000156276222000392/botj-20221018x8k.htm
  HTML page:      https://secwatch.observer/filing/0001562762-22-000392

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