Bank of the James Financial Group Inc. Reports Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013
January 28, 2014 at 05:00 pm
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Bank of the James Financial Group Inc. reported unaudited earnings results for the fourth quarter and full year ended December 31, 2013. For the quarter, interest income was $4,751,000 against $4,659,000 a year ago. Net interest income was $4,144,000 against $4,008,000 a year ago. Net income was $663,000 or $0.20 per basic and diluted share against $747,000 or $0.22 per basic and diluted share a year ago. Return on average assets was 0.60% against 0.69% a year ago. Return on average equity was 8.37% against 10.51% a year ago.
For the full year, interest income was $18,428,000 against $18,753,000 a year ago. Net interest income was $15,989,000 against $15,737,000 a year ago. Net income was $3,060,000 or $0.91 per basic and diluted share against $2,132,000 or $0.64 per basic and diluted share a year ago. Return on average assets was 0.71% against 0.50% a year ago. Return on average equity was 10.13% against 7.76% a year ago. Book value per share was $8.85 at December 31, 2013 compared with $8.83 per share at December 31, 2012.
Bank of the James (the Bank) is a full-service commercial and retail bank. The Bank is a wholly owned subsidiary of Bank of the James Financial Group, Inc. The Bank is engaged in a general retail and commercial banking business. The Bankâs services include personal, business and online banking, loans, and investments. The Bank serves individuals, small and medium-sized businesses and professionals of the Central Virginia area from offices located in Altavista, Amherst, Appomattox, Bedford, Blacksburg, Charlottesville, Forest, Harrisonburg, Lexington, Lynchburg, Madison Heights, Roanoke, Rustburg, and Wytheville. The Bank offers full investment and insurance services through its BOTJ Investment Services division and BOTJ Insurance, Inc. subsidiary. It also provides mortgage loan origination through Bank of the James Mortgage, a division of Bank of the James. It also provides investment advisory services through its wholly owned subsidiary, Pettyjohn, Wood & White, Inc.