JNES Announces 1st Quarter 2019 Earnings

Jonestown, Pennsylvania, UNITED STATES


JONESTOWN, Pa., April 29, 2019 (GLOBE NEWSWIRE) -- Jonestown Bank & Trust Co. (OTC Pink: JNES) reported earnings of $1,231,000, or $0.52 per share, for the First Quarter of 2019, up 8.6% from $1,136,000, or $0.49 per share, in the prior year.  “We had a strong first quarter.  Our indirect dealer financing numbers were very favorable and deposits, aided by our newest branch locations, provided a good funding base,” said Troy A. Peters, President and CEO.  “The Bank also surpassed a milestone by crossing over the $600 million assets mark for the first time, finishing the quarter at $606,817,000.”

Peters added, “Although regional competition for deposits has increased dramatically over the past year, our net interest margin has held up remarkably well and stands at 3.67%. In all, the Bank is off to a busy and productive start to the year and we have confidence in our direction and growth potential.”

The bank (marketed as JBT) serves customers in and around Lebanon and Lancaster Counties in Pennsylvania. Founded in 1873, the bank currently has 14 full-service locations. For more corporate information about JBT/JNES, please visit www.jbt.bank, or contact Andrea Shetterly at 717-865-4246.

Contact: Andrea Shetterly, EAA
ashetterly@jbt.bank
Jonestown Bank & Trust Co.
2 West Market Street
Jonestown, PA 17038-0717
Phone: 717-865-4246