JEFFERSONVILLE, N.Y., Aug. 11, 2026 (GLOBE NEWSWIRE) -- Jeffersonville Bancorp, Inc. (OTCQB - JFBC) announced today second quarter net income of $3,336,000 or $0.79 per share compared to $3,290,000 or $0.78 per share for the same quarter in 2025. The increase in quarterly net income compared to 2025 of $46,000 was primarily attributable to an increase in loan interest and fees of $349,000, an unrealized gain on an equity security income of $122,000, and an increase in securities and other interest income of $43,000. The increase was partially offset by an increase in salary and benefit expense of $183,000, an increase in provision for credit losses, due to growth in the loan portfolio, of $138,000, and an increase in interest expense of $46,000.
Year to date net income as of June 30, 2026 was $6,618,000 or $1.56 per share compared to $6,008,000 or $1.42 per share for the same period in 2025. The increase in year-to-date net income compared to 2025 of $610,000 was primarily attributable to an increase in loan interest and fees income of $844,000, an increase in securities income of $371,000, a decrease in the provision for credit losses of $101,000, and an increase in non-interest income of $78,000. The increase was partially offset by a decrease in interest on balances held at the Federal Reserve Bank of $299,000, an increase in non-interest expense of $251,000, and an increase income tax expense of $172,000, and an increase in interest expense of $68,000, compared to the same period in 2025.
"The Company is achieving strong loan growth in a higher rate environment while also growing low cost, stable deposits, resulting in peer leading returns," said George W. Kinne, Jr., President and CEO, "Our conservative approach to credit underwriting and balance sheet management has resulted in consistently good credit quality and robust liquidity and capital levels. We continue to focus on providing excellent service to our customers through the most convenient branch network in our market area and contributing to the communities we serve through employee involvement and sponsorships."
A cash dividend in the amount of twenty cents ($0.20) per share on the common stock of the company was declared at the August 11, 2026 meeting of the Board of Directors. The dividend is payable on September 3, 2026 to stockholders of record at the close of business on August 25, 2026.
Jeffersonville Bancorp is a one-bank holding company, which owns all the capital stock of Jeff Bank. Jeff Bank maintains ten full-service branches in Sullivan and Orange County, New York located in Anawana Lake Road/Monticello, Eldred, Callicoon, Jeffersonville, Liberty, Livingston Manor, Monticello, Port Jervis, White Lake, and Wurtsboro.
For More Information, call: 845-482-4000
Contact: George W. Kinne, Jr., President - CEO
