Jeffersonville Bancorp Announces First Quarter Earnings of $2,660,000 or $0.63 per share; Declares Dividend of $0.15
JEFFERSONVILLE, N.Y., May 09, 2023 (GLOBE NEWSWIRE) — Jeffersonville Bancorp, Inc. (OTCQB – JFBC) announced today first quarter net income of $2,660,000 or $0.63 per share compared to $1,790,000 or $0.43 per share for the same quarter in 2022. The increase in quarterly net income compared to 2022 of $870,000 was primarily attributable to an increase in securities and other interest and dividends of $1,265,000, an increase in loan interest and fees of $609,000, an increase in other non-interest income of $351,000 from the sale of OREO property, and a negative credit loss provision of $181,000. These improvements were partially offset by a loss on the sale of securities of $785,000, an increase in tax expense of $304,000, and a decrease in unrealized securities gains of $197,000.
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