JBTC Announces 1st Quarter 2022 Earnings

Jonestown, Pennsylvania, UNITED STATES


JONESTOWN, Pa., April 29, 2022 (GLOBE NEWSWIRE) -- JBT Bancorp, Inc. (JBTC) reported quarterly earnings of $1,385,000 or $0.57 per share for the first quarter of 2022 versus $1,402,000 or 0.58 per share in the prior year. “Earnings were positively affected by a 3.4% increase in net interest income, but non-interest income fell by 11%, largely impacted by reduced mortgage banking activities. The first quarter of 2021 also included $203,000 in Paycheck Protection Program (PPP) fees compared to just $28,000 in first quarter 2022. As the PPP winds down, we expect nearly all of the remaining $1,600,000 in loans to be forgiven by the end of the second quarter,” said President & CEO, Troy A. Peters.

More information is available in the quarterly shareholder letter found on the Investors Relations tab at jbt.bank.

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