Bank of the James (BOTJ) Reports Q3 EPS of $0.24

October 21, 2016 12:01 PM EDT
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Bank of the James (NASDAQ: BOTJ) reported Q3 EPS of $0.24, versus $0.29 reported last year.

Robert R. Chapman III, President and CEO, stated: “We reported a solid financial quarter, with company-record third quarter and nine-months net income that reflected steady progress in our core Region 2000 market and accelerating contributions from operations in Charlottesville, Harrisonburg and Roanoke. We have made prudent and meaningful investments in experienced, proven individuals to drive revenue, and facilities and technology to support success.

“Even as we have invested, we believe maintaining a year-over-year efficiency ratio of 72%, growing commercial lending and residential mortgage originations, attracting new clients and high levels of client retention, while maintaining strong asset and credit quality demonstrate the positive impact of our investments and the resulting growth and productivity.

“We are excited to soon be opening a full-service branch in Appomattox, headed by banking veteran and Appomattox native Thomas R. Cobb as Vice President and Regional Manager. We have served Appomattox clients for many years, and this will enhance our presence in this important Region 2000 market. We are also weeks away from opening a full-service branch in Charlottesville, which has proven to be a dynamic market for Bank of the James since we established a loan production office there in 2013.

“We entered fourth quarter 2016 with a strong pipeline of loans and an ever-expanding number of clients, encouraging us that the company can finish the year with strong results and move confidently into 2017.”

For earnings history and earnings-related data on Bank of the James (BOTJ) click here.

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