John Marshall Bank Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2018; Reports Net Loan Charge Offs for the Quarter Ended December 31, 2018
January 17, 2019 at 11:00 am
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John Marshall Bank announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2018. For the quarter, the company reported total interest and dividend income of $16.063 million against $13.211 million a year ago. Net interest income was $11.648 million compared to $10.590 million a year ago. Net income was $3.031 million compared to $1.118 million a year ago. Basic earnings per share was 0.24 compared to 0.09 a year ago.
For the year, the company reported total interest and dividend income of $57.890 million against $49.318 million a year ago. Net interest income was $43.700 million compared to $40.525 million a year ago. Net income was $12.174 million compared to $8.984 million a year ago. Basic earnings per share was 0.95 compared to 0.70 a year ago.
For the quarter, net loan charge offs was $180,000 compared to $324,000 a year ago.
John Marshall Bancorp, Inc. is the bank holding company for John Marshall Bank (the Bank). The Bank primarily serves small to medium-sized businesses, their owners and employees, professional corporations, non-profits, and individuals with a range of banking products and financial services. Its products and services include commercial checking, savings, and money market accounts, certificates of deposit, treasury and cash management services, commercial and industrial loans, commercial real estate loans, residential and commercial construction and development loans, online banking, and mobile banking. It has approximately eight full-service branches located in Alexandria, Arlington, Loudoun, Prince William, Reston, and Tysons, Virginia, as well as Rockville, Maryland, and Washington, D.C., with one loan production office in Arlington, Virginia. It is also providing personalized service and convenience to local businesses and professionals in the Washington, D.C. metropolitan area.
John Marshall Bank Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2018; Reports Net Loan Charge Offs for the Quarter Ended December 31, 2018