BOTJ Q1 net income $2.19M ($0.48 EPS) vs $1.98M a year ago; declares $0.10 dividend

BANK OF THE JAMES FINANCIAL GROUP INC

2024-Q1 EPS reported $0.48 revenue$953,000

Net income of $2.19M, $0.48 per share, vs $1.98M ($0.43) in Q1 2023; earnings per share up 11.6% YoY.
Net interest margin narrowed to 3.02% from 3.48% YoY; total interest income rose 15.5% to $10.51M.
Nonperforming loans ratio remained low at 0.09%; recovery of credit losses of $553K vs $140K provision a year ago.
Total deposits increased to $893.5M at March 31, 2024 from $878.5M at Dec 31, 2023; core deposits >70%.
Book value per share rose to $13.30 from $13.21 in Dec 2023; quarterly dividend of $0.10 declared.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

BANK OF THE JAMES FINANCIAL GROUP INC reported for the three months ended March 31, 2024 results: revenue 10.51 million, net income 2.19 million, EPS 0.48.

Period: for the three months ended March 31, 2024
Revenue: 10.51 million
Net income: 2.19 million
EPS: 0.48
Result: reported results

Exact text from the filing

2023. The recovery in 2024 was driven in part by a de cline in loans and continuing evaluation of risks inherent within the loan portfolio . Total interest income increased to $10.51 million in the first quarter of 2024 compared to $9.10 million in the first quarter of 2023 . The year-over-year increase primarily reflected the Company’s ongoing upward adjustments to

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Source: SEC EDGAR

accession 0001562762-24-000100

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