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JBT Bankcorp earnings double in Q2
Paula Wolf / Contributing Writer//August 9, 2021
JBT Bankcorp earnings double in Q2
Paula Wolf / Contributing Writer//August 9, 2021
Jonestown-based JBT Bancorp Inc. reported that its second-quarter earnings jumped 128%, from $1.388 million to $3.158 million.
That comes to $1.30 per share, up from $0.57 per share last year.
Earnings were boosted by increases in loan interest income, mortgage profits and fees earned from loans issued as part of the Paycheck Protection Program, President and CEO Troy A. Peters said in a release.
“Additional important contributing factors were reductions in interest expense and the loan loss provision,” he added.
Also, net loans grew 9.38% year-to-date, helped by the bank’s commercial and indirect lending businesses. As of the end of June, total assets are more than $800 million, and deposit growth is up nearly $100 million from the same period in 2020.
Founded in 1873, JBT serves customers in and around Lebanon, Lancaster and Berks counties and operates 14 full-service locations.
