Jeffersonville Bancorp Announces Second Quarter Earnings of $3,196,000 or $0.75 per share and Year to Date Earnings of $5,856,000 or $1.38 per share; Declares Dividend of $0.15
JEFFERSONVILLE, N.Y., Aug. 08, 2023 (GLOBE NEWSWIRE) — Jeffersonville Bancorp, Inc. (OTCQB – JFBC) announced today second quarter net income of $3,196,000 or $0.75 per share compared to $2,031,000 or $0.48 per share for the same quarter in 2022. The increase in quarterly net income compared to 2022 of $1,165,000 was primarily attributable to an increase in securities and other interest and dividends of $1,078,000, an increase in loan interest and fees of $818,000, and a reverse provision for loan losses of $439,000, partially offset by an increase in interest expense of $470,000, an increase in tax expense of $418,000, and an increase in total non-interest expense of $225,000.
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