Jeffersonville Bancorp Announces Third Quarter Earnings of $2,972,000 or $0.70 per share and Year to Date Earnings of $8,828,000 or $2.08 per share; Declares Dividend of $0.15

JEFFERSONVILLE, N.Y., Nov. 14, 2023 (GLOBE NEWSWIRE) — Jeffersonville Bancorp, Inc. (OTCQB – JFBC) announced today third quarter net income of $2,972,000 or $0.70 per share compared to $2,680,000 or $0.63 per share for the same quarter in 2022. The increase in quarterly net income compared to 2022 of $292,000 was primarily attributable to an increase in loan interest and fees of $913,000, an increase in securities and other interest and dividends of $553,000, and a reverse provision for loan losses of $148,000, partially offset by an increase in interest expense of $704,000, an increase in total non-interest expenses of $329,000, an increase in tax expense of $121,000, and an increase in realized losses on securities of $88,000.

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