Associated tags: City, Town, Bank, III, Dividend, Sale, Consumer Protection Act, Economic growth, Botetourt, Interest, Real estate, Insurance
Locations: ROCKY MOUNT, VIRGINIA, III, FRANKLIN
BUCHANAN, Va., April 25, 2024 /PRNewswire/ -- Buchanan-based Bank of Botetourt (OTCPK: BORT and BORTP) announced today its unaudited financial results for the three months-end March 31, 2024.
Key Points:
- BUCHANAN, Va., April 25, 2024 /PRNewswire/ -- Buchanan-based Bank of Botetourt (OTCPK: BORT and BORTP) announced today its unaudited financial results for the three months-end March 31, 2024.
- The Bank produced net income amounting to $1,828,000 or $0.88 per basic share in the first quarter.
- Bank of Botetourt qualified to opt-in to the Community Bank Leverage Ratio ("CBLR").
- As of March 31, 2024 Bank of Botetourt reported its CBLR ratio at 10.35% which meets the required regulatory minimum ratio.
BUCHANAN, Va., March 5, 2024 /PRNewswire/ -- Buchanan-based Bank of Botetourt (OTCPK: BORT and BORTP) announced today the appointment of A. Randy Hostetter to the Board of Directors.
Key Points:
- BUCHANAN, Va., March 5, 2024 /PRNewswire/ -- Buchanan-based Bank of Botetourt (OTCPK: BORT and BORTP) announced today the appointment of A. Randy Hostetter to the Board of Directors.
- Mr. Hostetter currently serves as the Owner & Chief Executive Officer for Randy Hostetter Excavating, LLC located in Lexington, Virginia.
- Mr. Hostetter has over 30 years of experience as a project manager, superintendent, and business owner.
- Bank of Botetourt looks forward to Mr. Hostetter's further contributions as a Director.
Retrieved on:
Thursday, February 1, 2024
For the twelve months-ended December 31, 2023 the Bank produced net income amounting to $8,173,000 or $3.95 per basic share.
Key Points:
- For the twelve months-ended December 31, 2023 the Bank produced net income amounting to $8,173,000 or $3.95 per basic share.
- The Board voted to increase the quarterly common dividend from $0.1925 to $0.20 per share, or $0.80 per share annualized.
- The dividend increase of 3.9% per share annualized is payable on February 16, 2024 to common shareholders of record February 12, 2024.
- As of December 31, 2023 Bank of Botetourt reported its CBLR ratio at 10.36% which meets the required regulatory minimum ratio.
Retrieved on:
Thursday, October 26, 2023
Insurance,
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Bank,
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Interest,
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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.
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").
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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.
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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.
The new office will be located at 875 Tanyard Road in Rocky Mount.
Key Points:
- The new office will be located at 875 Tanyard Road in Rocky Mount.
- "Expanding our reach to Rocky Mount, Virginia is an exciting milestone for our community bank," said G. Lyn Hayth, III, CEO.
- Bank of Botetourt has a rich history of serving the banking needs of individuals and businesses, and the new office will provide an opportunity for Bank of Botetourt to be a valuable member of the greater Rocky Mount community.
- Bank of Botetourt will have a formal ribbon cutting and public grand opening celebration in the fourth quarter of 2024.
Retrieved on:
Tuesday, February 21, 2023
University,
Postgraduate education,
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Government,
Virginia General Assembly,
III,
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Advisory Council,
Emory and Henry College,
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Lyn Nofziger,
Education,
Louisiana State University,
Bank,
Bachelor of Business Administration,
History,
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Commonwealth She then graduated from the Virginia Bankers School of Bank Management at University of Virginia, and the Graduate School of Banking at Louisiana State University.
Key Points:
- She then graduated from the Virginia Bankers School of Bank Management at University of Virginia, and the Graduate School of Banking at Louisiana State University.
- The Bank's Board of Directors also voted to appoint CEO G. Lyn Hayth, III as its Vice Chair.
- The Board of Directors promoted Dustin G. Bays to succeed Austin as the Bank's Chief Financial Officer.
- Johnson 1904-1942; Dr. E. W. Dodd 1942-1964; Darnell Brugh 1964-1984; H. Watts Steger, III 1984-2002; G. Lyn Hayth, III 2002-2023; Michelle R. Austin 2023-Present.
Retrieved on:
Wednesday, February 1, 2023
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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.
