Bank of the James Q1 Net Income Rises to $2.77M, Declares $0.10 Dividend
BOTJ•Bank of the James Financial Group posted first-quarter 2026 net income of $2.77 million, up from $842,000 a year earlier, driving EPS to $0.61 from $0.19. Total assets rose 4.9% to $1.06 billion, net interest income jumped 13.2% to $8.73 million, and the board approved a $0.10/share dividend.
1. Financial Highlights
Net income for Q1 2026 rose to $2.77 million, up $1.93 million from $842,000 in Q1 2025, driving EPS to $0.61 versus $0.19. Total assets grew 4.9% to $1.06 billion while total deposits increased to $956.6 million.
2. Income Drivers and Efficiency Improvements
Net interest income climbed 13.2% to $8.73 million on rising yields and lower funding costs, lifting net interest margin from 3.25% to 3.57%. Noninterest income rose 20.7% to $3.96 million while noninterest expense fell 4.7%, driving efficiency ratio improvement to 73.8%.
3. Dividend Declaration and Capital Position
The board approved a $0.10 per share quarterly dividend payable June 5 to shareholders of record May 22. Stockholders’ equity grew by 1.5% to $81.3 million, book value per share increased to $17.89, and nonperforming loans declined to $1.45 million.
