Jeffersonville Bancorp Announces Fourth Quarter and Record Full Year Earnings of $11,330,000 or $2.68 per share; Declares Dividend of $0.15

JEFFERSONVILLE, N.Y., Feb. 11, 2025 (GLOBE NEWSWIRE) -- Jeffersonville Bancorp, Inc. (OTCQB - JFBC) announced today net income for the year ended December 31, 2024 was $11,330,000 or $2.68 per share compared to $11,175,000 or $2.64 per share for the same period in 2023. This represents an increase of $155,000. The increase in full year net income was primarily attributable to an increase in loan interest and fees of $1,679,000 and an increase in unrealized gain on securities of $184,000. These gains were partially offset by a decrease in securities and other interest and dividends of $591,000, an increase in interest expense of $575,000, and an increase in total non-interest expenses of $903,000 compared to the same period in 2023. Other items affecting comparative results were a one-time realized loss on securities of $785,000 partially offset by a one-time negative provision for credit losses of $527,000 recorded in 2023.