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AND TRUST FINANCIAL CORP.
For Immediate Release
VILLAGE BANK AND TRUST FINANCIAL CORP.
REPORTS RESULTS OF OPERATIONS FOR THE THIRD QUARTER 2017
Midlothian, Virginia, October 31, 2017. Village Bank and Trust Financial Corp. (the “Company”) (NASDAQ symbol: VBFC), parent company of Village Bank (the “Bank”), today reported unaudited results for the third quarter of 2017. Net income for the third quarter of 2017 amounted to $273,000 and net income available to common shareholders, which deducts from net income the dividends on preferred stock, amounted to $160,000, or $0.11 per fully diluted share. For the first nine months of 2017, net income was $926,000 and net income available to common shareholders was $541,000, or $0.38 per fully diluted share.
Earnings by Segment
The following table presents operating results by segment for the indicated periods (in thousands):
|Village Bank and Trust Financial Corp.|
|Earnings by Company|
|Three Months Ended June 30, 2017|
|Operating Results by Segment|
|Q3 2017||Q2 2017||Q1 2017||Q4 2016||Q3 2016|
|Pretax earnings by segment|
|Total pretax income||379||331||549||700||580|
|Income tax expense (benefit)||106||94||134||180||(11,352||)|
Commercial Banking Segment.
|·||Net interest income amounted to $3,691,000 for Q3 2017, an increase of $171,000, or 4.9%, over Q2 2017, and an increase of $302,000, or 8.9%, over Q3 2016. This was the result of continued organic growth in commercial loans and low cost relationship deposits, and improved net interest margin.|
The following information was filed by Village Bank Trust Financial Corp. (VBFC) on Tuesday, October 31, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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