JBTC Announces 4th Quarter 2023 Earnings

JONESTOWN, Pa., Jan. 23, 2024 (GLOBE NEWSWIRE) -- JBT Bancorp, Inc. (OTCQX: JBTC) reported quarterly earnings of $2,073,000 with earnings per share of $0.85. Earnings were down 6.92% compared to the final quarter of 2022. Full-year unaudited earnings were $7,793,000 with earnings per share of $3.20. Earnings fell 3.31% from $8,060,000 and earnings per share were down from $3.31 in the prior year.

President & CEO, Troy A. Peters, commented, “The year provided a challenging operating environment industry-wide but our core business remained strong. Despite the FOMC’s substantial increases to short-term rates and the resulting constriction of funding sources, we held our margin and increased net interest income by 5.20%. Inflationary pressures and process-improvement initiatives negatively impacted our operating expenses while credit quality remained strong in this our 150th anniversary year.”

More information can be found at OTC Markets at www.otcmarkets.com/stock/JBTC/overview.

Contact: Andrea Shetterly, EAA[email protected]Jonestown Bank & Trust Co. 2 West Market StreetJonestown, PA 17038-0717Phone: 717-865-4246

Source: Jonestown Bank & Trust, Co.

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