Jeffersonville Bancorp Announces Fourth Quarter and Full Year 2012 Earnings and Declares Quarterly Dividend
February 13 2013 - 2:36PM
Jeffersonville Bancorp, Inc. (OTCQB:JFBC) announced today fourth
quarter net income of $1,076,000 or $0.25 per share compared to
$1,072,000 or $0.25 per share for the same quarter in 2011. For the
twelve months ended December 31, 2012, the Company earned net
income of $4,361,000 or $1.03 per share, an increase of $455,000 or
11.6% compared to $3,906,000 or $0.92 per share, for the same
period in 2011.
President and Chief Executive Officer Wayne V. Zanetti said,
"The Company's financial results for 2012 reflect the conservative
approach to doing business we adopted during the early stages of
the financial crisis. We have been able to take advantage of the
historic low interest rate environment and cost-cutting initiatives
to offset continued weakness in loan volume and aggressive
provisions for loan losses. In addition, we have pursued
opportunities to reduce regulatory burdens and costs by
deregistering from the SEC in June and by converting our subsidiary
bank from a national to a state charter in December."
A cash dividend in the amount of thirteen cents ($0.13) on the
common stock of the Company was declared at the February 12, 2013
meeting of the Board of Directors. The dividend is payable on March
1, 2013 to stockholders of record at the close of business on
February 25, 2013.
Jeffersonville Bancorp is a one-bank holding company, which owns
all the capital stock of Jeff Bank. As of December 31, 2012, Jeff
Bank maintained twelve full service branches in Sullivan County New
York located in Jeffersonville, Bloomingburg, Callicoon, Eldred,
Liberty, Livingston Manor, Loch Sheldrake, Monticello, Narrowsburg,
Wal*Mart/Monticello, White Lake and Wurtsboro.
CONTACT: For More Information, call: 845-482-4000
Wayne V. Zanetti, President - CEO
Jeffersonville Bancorp (QB) (USOTC:JFBC)
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