News at JSB
Jefferson Security Bank announces 2005 Earnings
January 30, 2006 - Shepherdstown, West Virginia – Jefferson Security Bank (OTCBB: JFWV) President and Chief Executive Officer, K. Stephen Morris, announces the results for the year 2005.
For the six months ended December 31, 2005, the bank had record earnings of $1,274,389 ($4.25 per share), which is a 33.1% increase over the comparable six-month period in 2004. For calendar year 2005, the bank had record earnings of $2,406,245 ($8.02 per share), which is a 32.5% increase over the $1,816,356 ($6.05 per share) earned in calendar year 2004.
Mr. Morris stated, “As I discussed at the Annual Meeting in April, 2005, we had budgeted net income of $2,100,000 ($7.00 per share) for calendar year 2005. The bank's actual results exceeded the budget by 14.2%. All of my colleagues and I are proud of the results that we have attained for the shareholders and we are focused on continuing to deliver superior results.”
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. We currently expect to open the new Barron office in Shepherdstown and a new office in Sharpsburg, Maryland early in 2006.
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