SHEPHERDSTOWN, W.Va.--(BUSINESS WIRE)--Jefferson Security Bank (OTCBB: JFWV) reported net income of $463 thousand, or 1.64% per share, for the quarter ended March 31, 2018, compared to net income of $443 thousand, or $1.57 per share, for the quarter ended March 31, 2017. Annualized return on average assets and equity was 0.63% and 8.22%, respectively, for the quarter ended March 31, 2018 compared to 0.62% and 8.11%, respectively, for the quarter ended March 31, 2017.
As of March 31, 2018, total assets increased $5.6 million to $295.8 million compared to total assets of $290.2 million as of March 31, 2017. Loans, net of reserve for loan losses, increased $24.8 million or 15.8% to $182.1 million at March 31, 2018, compared to $157.3 million at March 31, 2017. Deposits totaled $261.1 million at March 31, 2018 compared to $260.4 million at March 31, 2017. Book value per share was $78.74 and $77.95, as of March 31, 2018 and 2017, respectively.
This press release may contain forward-looking statements, as defined by federal securities laws, which may involve significant risks and uncertainties. The statements are based on estimates and assumptions made by management in conjunction with other factors deemed appropriate under the circumstances. Actual results could differ materially from current projections.
| Offices: | 105 East Washington Street, Shepherdstown, WV (304-876-9000) | |||
| 7994 Martinsburg Pike, Shepherdstown, WV (304-876-2800) | ||||
| 873 East Washington Street, Suite 100, Charles Town, WV (304-725-9752) | ||||
| 277 Mineral Drive, Suite 1, Inwood, WV (304-229-6000) | ||||
| 1861 Edwin Miller Boulevard, Martinsburg, WV (304-264-0900) | ||||
| 103 West Main Street, Sharpsburg, MD (301-432-3900) | ||||
