Jeffersonville Bancorp Announces First Quarter Earnings of $2,553,000 or $0.60 per share; Declares Dividend of $0.15

JEFFERSONVILLE, N.Y., May 14, 2024 (GLOBE NEWSWIRE) — Jeffersonville Bancorp, Inc. (OTCQB – JFBC) announced today first quarter net income of $2,553,000 or $0.60 per share compared to $2,660,000 or $0.63 per share for the same quarter in 2023. The decrease in quarterly net income compared to 2023 of $107,000 was primarily attributable to increases in interest expense of $743,000, credit loss provision of $288,000, salaries and employee benefits of $132,000, other non-interest expense of $110,000, and foreclosure expense of $32,000. These expense increases were partially offset by increases in other non-interest income of $481,000, loan interest and fees of $450,000, and securities and other interest and dividends of $254,000, and a decrease in tax expense of $31,000.

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