Jeffersonville Bancorp Announces Fourth Quarter and Record Full Year Earnings of $11,175,000 or $2.64 per share; Declares Dividend of $0.15

JEFFERSONVILLE, N.Y., Feb. 14, 2024 (GLOBE NEWSWIRE) — Jeffersonville Bancorp, Inc. (OTCQB – JFBC) announced today net income for the year ended December 31, 2023 was $11,175,000 or $2.64 per share compared to $9,304,000 or $2.20 per share for the same period in 2022. This represents an increase of 20% or $1,871,000. The increase in full year net income was primarily attributable to an increase in securities and other interest and dividends of $3,071,000 and increase in loan interest and fees of $2,624,000, partially offset by an increase in interest expense of $2,256,000, an increase in realized losses on securities of $781,000, an increase in tax expense of $739,000, an increase in total non-interest expenses of $591,000, an increase in unrealized losses on securities of $344,000, and a decrease in the provision for credit losses of $977,000 compared to the same period in 2022.

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