News at JSB
Jefferson Security Bank Announces First Six Months of 2005 Earnings
July 18, 2005 - Shepherdstown, West Virginia – Jefferson Security Bank (OTCBB: JFWV) President and Chief Executive Officer, K. Stephen Morris, announces the results for the first six months of 2005 ending June 30, 2005.
Net income for the six months ended June 30, 2005 was $1,131,856 ($3.77 per share), an increase of 31.7% over the $859,046 ($2.86 per share)earned during the six months ended June 30, 2004. During the same periods, loans outstanding (net of reserves) increased 13.4% to $135,554,523 from $119,554,939, and book value per share increased 11.9% to $52.14 from $46.60.
Commenting on 2005, Mr. Morris stated, “For the first six months of 2005, net income after tax is 30% ahead of last year and 9% ahead of our budget, and have had record results which are greater than those of any other six-month period in the bank's history.”
Jefferson Security Bank is a community bank, headquartered in Shepherdstown, West Virginia, that engages in general banking business through four offices in Jefferson County and Berkeley County, West Virginia. Two new offices will be opening during the fourth quarter of 2005 or the first quarter of 2006 in Sharpsburg, MD and a second office in Shepherdstown, WV.
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