Jeffersonville Bancorp Announces First Quarter Earnings, Declares Quarterly Dividend
May 15 2013 - 8:50AM
Jeffersonville Bancorp, Inc. (OTCQB:JFBC) announced today first
quarter net income of $905,000 or $0.21 per share compared to
$1,065,000 or $0.25 per share for the first quarter of 2012. The
decrease in quarterly net income was primarily due to decreases in
total interest and dividend income of $695,000 and total
non-interest income of $135,000, partially offset by decreases in
the provision for loan losses of $400,000 and total interest
expense of $211,000. The decline in total non-interest income
includes a non-recurring life insurance benefit of $93,000 and gain
on sale of securities of $33,000 which were recorded in the first
quarter of 2012.
A cash dividend in the amount of thirteen cents ($0.13) per
share on the common stock of the company was declared at the May
14, 2013 meeting of the Board of Directors. The dividend is
payable on June 1, 2013 to stockholders of record at the close of
business on May 27, 2013.
Jeffersonville Bancorp is a one-bank holding company, which owns
all the capital stock of The First National Bank of
Jeffersonville. "Jeff Bank" maintains twelve full service
branches in Sullivan County, New York located in Jeffersonville,
Liberty, Monticello, Eldred, Loch Sheldrake, Livingston Manor,
Narrowsburg, Callicoon, Wal*Mart/Monticello, White Lake, Wurtsboro
and Bloomingburg.
CONTACT: For More Information, call: 845-482-4000
Wayne Zanetti, President - CEO
Jeffersonville Bancorp (QB) (USOTC:JFBC)
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