JBT Bancorp Reports Decline in Q4 Earnings Despite Growth
JBT Bancorp Announces 4th Quarter Earnings Results
JBT Bancorp, Inc. (OTCQX: JBTC) recently revealed its financial performance for the fourth quarter of 2024. The company achieved quarterly earnings totaling $1,775,000, translating to earnings per share of $0.73. This marks a decrease of 14.38% compared to the same period in 2023, which can be attributed to a $482,000 rise in credit loss expenses. Overall, for the entire year, the unaudited earnings stood at $7,555,000, resulting in an earnings per share of $3.10. This presents a slight fall of 3.05% from $7,793,000 and a decrease in earnings per share from $3.20 in the previous year.
Insights from Leadership
During a recent discussion, President and CEO Troy A. Peters expressed pride in the bank's achievements over the past year, particularly emphasizing their success in attracting core deposits. The bank surpassed the significant milestone of $950 million in assets. Peters noted that although growth is vital, it often requires investment in provisioning expenses, which saw a 44.81% surge compared to the previous year. Despite challenges, the bank demonstrated strong margin performance, particularly against the backdrop of rate cuts experienced in the fourth quarter.
Strategic Focus and Future Outlook
The focus for JBT Bancorp moving forward will likely include continuing to build on its foundational growth. As the bank strategically positions itself to enhance its asset base, the emphasis on managing credit losses and expenses will be of utmost importance. Stakeholders can expect updates on the bank's performance and efforts to maintain a robust growth trajectory.
Contact Information for Inquiries
For further details or inquiries, Andrea Shetterly, EAA, can be reached at the following email: ashetterly@jbt.bank or through phone at 717-865-4246. The headquarters of Jonestown Bank & Trust Co. is located at 2 West Market Street, Jonestown, PA 17038-0717.
Frequently Asked Questions
What were JBT Bancorp's Q4 earnings?
JBT Bancorp reported earnings of $1,775,000 for the fourth quarter, with earnings per share at $0.73.
How much did earnings decline compared to last year?
The earnings for Q4 2024 declined by 14.38% compared to Q4 2023.
What impacted the earnings report for JBT Bancorp?
A significant increase in credit loss expense, amounting to $482,000, impacted the earnings report adversely.
Who is JBT Bancorp's CEO?
The CEO of JBT Bancorp is Troy A. Peters.
How can someone contact JBT Bancorp?
Individuals can contact Andrea Shetterly at ashetterly@jbt.bank or call 717-865-4246 for information.
About Investors Hangout
Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/
Disclaimer: The content of this article is solely for general informational purposes only; it does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice; the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. The author's interpretation of publicly available data presented here; as a result, they should not be taken as advice to purchase, sell, or hold any securities mentioned or any other investments. If any of the material offered here is inaccurate, please contact us for corrections.