Business
Bank of Botetourt posts strong first quarter financial results
Buchanan-based Bank of Botetourt (OTCPK: BORT and BORTP) announced today its unaudited financial results for the three months-ended March 31, 2025. The Bank produced net income amounting to $2,044,000 or $0.98 per basic share in the first quarter. This amount compares to net income of $1,828,000 or $0.88 per share, for the same period last year.
About this update from Bank Of Botetourt (buchanan, Va)
[{"type":"text","content":"BUCHANAN, Va., May 1, 2025 /PRNewswire/ -- Buchanan-based Bank of Botetourt (OTCPK: BORT and BORTP) announced today its unaudited financial results for the three months-ended March 31, 2025. The Bank produced net income amounting to $2,044,000 or $0.98 per basic share in the first quarter. This amount compares to net income of $1,828,000 or $0.88 per share, for the same period last year.","length":390,"tagName":"p"},{"type":"text","content":"At March 31, 2025, select financial information and key highlights include:","length":75,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Return on average assets of 0.95%","length":33,"tagName":"p"}]},{"val":[{"type":"text","content":"Return on average equity of 9.77%","length":33,"tagName":"p"}]},{"val":[{"type":"text","content":"Book value of $39.83","length":20,"tagName":"p"}]},{"val":[{"type":"text","content":"Total deposit growth of 0.50%","length":29,"tagName":"p"}]},{"val":[{"type":"text","content":"Total asset growth of 0.72%","length":27,"tagName":"p"}]},{"val":[{"type":"text","content":"Total loan growth of 2.27%","length":26,"tagName":"p"}]},{"val":[{"type":"text","content":"Community Bank Leverage Ratio of 10.22%","length":39,"tagName":"p"}]},{"val":[{"type":"text","content":"Net Interest Margin of 3.59%","length":28,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":235,"olType":false},{"type":"text","content":"The Board of Directors voted to pay the 7.00% preferred dividend, which calculates to $0.49 per share on May 9, 2025, to preferred shareholders of record May 2, 2025. Furthermore, the Board of Directors voted to pay the $0.225 per share quarterly dividend, or $0.90 per share annualized, which is payable on May 16, 2025, to common shareholders of record May 9, 2025. CEO & Vice-Chairman, G. Lyn Hayth, III stated, "We are pleased to report a strong first quarter, driven by prudent balance sheet management, solid loan growth, and disciplined cost control. In a highly competitive environment for deposits, we remained focused on delivering differentiated value to our customers while enhancing returns for our shareholders. Our performance reflects the strength of our institution and our continued commitment to long-term, sustainable growth." ","length":885,"tagName":"p"},{"type":"text","content":"Results o...