Botetourt

Bank of Botetourt posts profitable third quarter financial results

Retrieved on: 
Thursday, October 26, 2023
Insurance, Sale, Bank, III, Family, Interest, Economic growth, Dividend, Consumer Protection Act, Real estate, Cryptocurrency, Holding company, Life insurance, Botetourt

BUCHANAN, Va., Oct. 26, 2023 /PRNewswire/ -- Buchanan-based Bank of Botetourt (OTCPK: BORT and BORTP) announced today its unaudited financial results for the three and nine months-end September 30, 2023.

Key Points: 
  • BUCHANAN, Va., Oct. 26, 2023 /PRNewswire/ -- Buchanan-based Bank of Botetourt (OTCPK: BORT and BORTP) announced today its unaudited financial results for the three and nine months-end September 30, 2023.
  • CEO & Vice-Chairman, G. Lyn Hayth, III stated "Despite navigating a challenging net interest margin landscape, we produced strong financial results for the third quarter.
  • Bank of Botetourt qualified to opt-in to the Community Bank Leverage Ratio ("CBLR").
  • As of September 30, 2023 Bank of Botetourt reported its CBLR ratio at 10.51% which meets the required regulatory minimum ratio.

Bank of Botetourt posts profitable second quarter financial results

Retrieved on: 
Thursday, July 27, 2023
Insurance, Interest, Sale, Consumer Protection Act, Dividend, Bank, Economic growth, III, Family, Real estate, Life insurance, Holding company, Cryptocurrency, Botetourt

BUCHANAN, Va., July 27, 2023 /PRNewswire/ -- Buchanan-based Bank of Botetourt (OTCPK: BORT and BORTP) announced today its unaudited financial results for the three and six months-end June 30, 2023.

Key Points: 
  • BUCHANAN, Va., July 27, 2023 /PRNewswire/ -- Buchanan-based Bank of Botetourt (OTCPK: BORT and BORTP) announced today its unaudited financial results for the three and six months-end June 30, 2023.
  • The Bank produced net income amounting to $1,993,000 or $0.96 per basic share in the second quarter.
  • Bank of Botetourt continues to sustain significant loan growth while conserving strong relationships with our current customers."
  • Bank of Botetourt qualified to opt-in to the Community Bank Leverage Ratio ("CBLR").

Moore retires from Bank of Botetourt's Board of Directors; Kessinger elected as new Chair & Hayth re-elected Vice-Chair

Retrieved on: 
Thursday, May 25, 2023
Historic Town of Sukhothai and Associated Historic Towns, Louisiana State University, Hampden–Sydney College, University, Virginia School for Girls, Chair, Science, Old Mulkey Meetinghouse, Federal Reserve Board of Governors, Depression, Human, Growth, III, Farmer, Marine Corps Expeditionary Medal, United States Marine Corps Reserve, National Institute of Bank Management, Farmers and Merchants Bank, History, World war, Virginia Western Community College, Roanoke, Postgraduate education, Agricultural economics, Digital technology, MSA, Great Depression, Pleasure, Bank, JAG, Education Committee, FleetBoston Financial, Management, Virginia Tech, Botetourt

The Bank's resiliency over the past four decades is a direct reflection of the leadership within our Bank family.

Key Points: 
  • The Bank's resiliency over the past four decades is a direct reflection of the leadership within our Bank family.
  • He believed in the Bank and its leaders back when it was $16 million in assets and one branch (Buchanan).
  • The Board of Directors voted to elect Joyce R. Kessinger as Chair, re-elect G. Lyn Hayth, III as Vice-Chair.
  • The Board of Directors also voted to reappoint Bank CEO G. Lyn Hayth, III, as its Vice Chair.

Bank of Botetourt posts strong first quarter financial results

Retrieved on: 
Thursday, April 27, 2023
Goodwill Industries, Insurance, Town, Partnership, Interest, Current Expected Credit Losses, Tax, Sale, Consumer Protection Act, ATM, Dividend, Inter-satellite service, CECL, Valley, West Virginia Mountaineers football statistical leaders, Bank, ACL, Economic growth, III, FASB, Real estate, Cryptocurrency, Holding company, Life insurance, Botetourt

BUCHANAN, Va., April 27, 2023 /PRNewswire/ -- Buchanan-based Bank of Botetourt (OTCPK: BORT and BORTP) announced today its unaudited financial results for the quarter-ended March 31, 2023.

Key Points: 
  • BUCHANAN, Va., April 27, 2023 /PRNewswire/ -- Buchanan-based Bank of Botetourt (OTCPK: BORT and BORTP) announced today its unaudited financial results for the quarter-ended March 31, 2023.
  • CEO & Vice-Chairman, G. Lyn Hayth, III stated "Our first quarter financial results exceeded budget expectations.
  • Bank of Botetourt adopted FASB's Topic 326, Financial Instruments - Credit Losses ("CECL") effective January 1, 2023.
  • The Bank also plans to provide access to financial literacy and coaching services to help improve financial wellness.

Bank of Botetourt Records Profitable 2022; Board Votes to Pay Preferred Dividend and Increase Common Dividend

Retrieved on: 
Wednesday, February 1, 2023
PPP, Consumer Protection Act, Forgiveness, III, U.S. Department of the Treasury, Office of Inspector General, Paycheck Protection Program, Treasury, U.S. Department of Defense Strategy for Operating in Cyberspace, ATM, SBA, Growth, Interest, Bank, Dividend, Unemployment, Economic growth, Cryptocurrency, Holding company, Credit, Botetourt

For the twelve months-ended December 31, 2022 the Bank produced net income amounting to $7,805,000 or $4.04 per basic share.

Key Points: 
  • For the twelve months-ended December 31, 2022 the Bank produced net income amounting to $7,805,000 or $4.04 per basic share.
  • President & CEO, G. Lyn Hayth, III stated, "We are gratified by the exceptional financial performance of our Bank during 2022.
  • Basic and diluted earnings per share increased $0.36 from $0.77 at December 31, 2021 to $1.13 at December 31, 2022.
  • Bank of Botetourt was a participant in the Paycheck Protection Program ("PPP") initiated by the U.S. Department of the Treasury.

Bank of Botetourt posts profitable third quarter financial results

Retrieved on: 
Wednesday, October 26, 2022
U.S. Department of Defense Strategy for Operating in Cyberspace, PPP, Time, Paycheck Protection Program, Growth, Economic growth, Bank, Income, Unemployment, Forgiveness, Treasury, III, Dividend, U.S. Department of the Treasury, Office of Inspector General, Board, CEO, Consumer Protection Act, SBA, Director, City, Interest, Town, Real estate, Botetourt

BUCHANAN, Va., Oct. 26, 2022 /PRNewswire/ -- Buchanan-based Bank of Botetourt (OTCPK: BORT) announced today its unaudited financial results for the three and nine months-end September 30, 2022.

Key Points: 
  • BUCHANAN, Va., Oct. 26, 2022 /PRNewswire/ -- Buchanan-based Bank of Botetourt (OTCPK: BORT) announced today its unaudited financial results for the three and nine months-end September 30, 2022.
  • The Bank produced net income amounting to $2,308,000 or $1.19 per basic share in the third quarter.
  • As of September 30, 2022 Bank of Botetourt reported its CBLR ratio at 9.13% which meets the required regulatory minimum ratio.
  • Bank of Botetourt also operates a mortgage division, Virginia Mountain Mortgage and a financial services division, Botetourt Wealth Management.

Bank of Botetourt posts profitable second quarter financial results

Retrieved on: 
Thursday, July 28, 2022
Treasury, Sale, Time, III, Paycheck Protection Program, Economic growth, CEO, Dividend, U.S. Department of the Treasury, Office of Inspector General, Interest, Forgiveness, Town, Bank, Income, Board, City, Director, Unemployment, Consumer Protection Act, PPP, SBA, U.S. Department of Defense Strategy for Operating in Cyberspace, Real estate, Life insurance, Health insurance, Botetourt

BUCHANAN, Va., July 28, 2022 /PRNewswire/ -- Buchanan-based Bank of Botetourt (OTCPK: BORT) announced today its unaudited financial results for the three and six months-end June 30, 2022.

Key Points: 
  • BUCHANAN, Va., July 28, 2022 /PRNewswire/ -- Buchanan-based Bank of Botetourt (OTCPK: BORT) announced today its unaudited financial results for the three and six months-end June 30, 2022.
  • The Bank produced net income amounting to $1,763,000 or $0.91 per basic share in the second quarter.
  • As a result, $730,000 thousand of PPP loans remain on the balance sheet at the end of the second quarter.
  • Bank of Botetourt also operates a mortgage division, Virginia Mountain Mortgage and a financial services division, Botetourt Wealth Management.

Bank of Botetourt posts exceptional 2021 results; Board votes to increase the cash dividend following last month's stock dividend

Retrieved on: 
Monday, January 31, 2022
U.S. Department of the Treasury, Office of Inspector General, Bank, Growth, CEO, III, City, Insurance, Sale, SBA, Program, Paycheck Protection Program, Income tax, Federal Deposit Insurance Corporation, Polish material losses during World War II, Dividend, CARES Act, COVID, Federal Reserve Bank of St. Louis, COVID-19, Board, Marketing, Treasury, Federal Reserve Bank, Forgiveness, Call report, Town, Investment, Economic growth, Unemployment, Family, U.S. Department of Commerce Office of Security, FDIC, Consumer Protection Act, Director, ATM, PPP, Income, Holding company, Cryptocurrency, Pension fund, Credit, Life insurance, Financial services, Botetourt

In 2021, the Bank participated in the next round of the SBA's PPP Program, generating $18,000,00 in new PPP loans.

Key Points: 
  • In 2021, the Bank participated in the next round of the SBA's PPP Program, generating $18,000,00 in new PPP loans.
  • President & CEO, G. Lyn Hayth, III stated "Bank of Botetourt posted exceptional financial results for 2021, exceeding budget expectations.
  • With the decline in requests for assistance, Bank of Botetourt ended its COVID relief program during the second quarter of 2021.
  • Bank of Botetourt also operates a mortgage division, Virginia Mountain Mortgage and a financial services division, Botetourt Wealth Management.

Bank of Botetourt Announces Promotions to Executive Vice President

Retrieved on: 
Tuesday, August 3, 2021
Botetourt, Roanoke, Virginia, Virginia

Michelle began her career in banking with Bank of Botetourt as a college intern in 1991 and joined the Bank full time in 1993.

Key Points: 
  • Michelle began her career in banking with Bank of Botetourt as a college intern in 1991 and joined the Bank full time in 1993.
  • After twenty-seven years with Bank of Botetourt, George E. Honts IV (Ned) has been promoted to Executive Vice President and will continue his role of Chief Lending Officer.
  • Bank of Botetourt was chartered in 1899 and operates twelve retail offices in Botetourt, Rockbridge, Roanoke, and Franklin counties and the City of Salem, all in Virginia.
  • Bank of Botetourt also operates a mortgage division, Virginia Mountain Mortgage and a financial services division, Botetourt Wealth Management.

Bank of Botetourt Board of Directors Elects Tommy L. Moore As New Chairman

Retrieved on: 
Thursday, June 3, 2021
Botetourt County, Virginia, Botetourt

Mr. Moore has been on the Board since 1982 and currently serves as the Circuit Court Clerk for Botetourt County.

Key Points: 
  • Mr. Moore has been on the Board since 1982 and currently serves as the Circuit Court Clerk for Botetourt County.
  • Mr. Moore serves on the Board of Directors for the Botetourt Education Foundation, the Botetourt Resource Center, Inc. and Limestone Park Ministries, Inc.
  • Bank President & CEO, G. Lyn Hayth, III stated, "Throughout the years, Tommy Moore has helped to provide a conservative approach to growth for the bank.
  • Bank of Botetourt also operates a mortgage division, Virginia Mountain Mortgage and a financial services division, Botetourt Wealth Management.