Bank of Botetourt Announces Unaudited Consolidated Financial Results for the Fourth Quarter and Year Ended December 31, 2018
January 31, 2019 at 09:34 pm
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Bank of Botetourt announced unaudited consolidated financial results for the fourth quarter and full year ended December 31, 2018. For the quarter, the company reported net income of $835,812 or $0.57 per basic share compared to $674,152 or $0.47 per share a year ago.
For the full year, the company reported net interest income of $15,251,941 compared to $13,595,668 a year ago. Net income was $4,299,514 compared to $2,278,175 a year ago. Basic earnings per share were $2.98 compared to $1.60 a year ago.
Bank Of Botetourt (the Bank), provides various commercial banking services to individuals and small to medium-sized businesses located in Virginia. The Bank operates thirteen retail offices in Botetourt, Rockbridge, Roanoke, and Franklin counties, the City of Salem, and the Town of Vinton, all in Virginia. The Bank also operates a mortgage division, Virginia Mountain Mortgage, and a financial services division. The Bank provides checking and savings accounts, money market accounts, and certificates of deposit. It also offers real estate loans, including single and multifamily housing loans, farm loans, residential and commercial construction loans, and loans for commercial real estate, agricultural production loans, commercial loans, and consumer loans, such as loans for household expenditures, auto loans, and other associated services.