Bank of the James Financial Group Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2012
January 25, 2013 at 12:00 pm
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Bank of the James Financial Group Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2012. For the quarter, the company reported net interest income of USD 4.008 million compared to USD 3.968 million a year ago. Net income was USD 0.747 million compared to net loss of USD 0.218 million a year ago. Basic and diluted net income per share was USD 0.22 compared to basic and diluted net loss per share of USD 0.07 a year ago. Book value per share was USD 8.83 compared to USD 8.02 a year ago. Return on average assets was 0.69% compared to 0.20% negative return on average asset a year ago. Return on average equity was 10.51% compared to 3.21% negative return on average asset a year ago.
For the year, the company reported net interest income of USD 15.737 million compared to USD 15.327 million a year ago. Net income was USD 2.132 million compared to USD 0.600 million a year ago. Basic and diluted net income per share was USD 0.64 compared to USD 0.18 a year ago. Book value per share was USD 8.02 compared to USD 7.67 a year ago. Return on average assets was 0.50% compared to 0.14% a year ago. Return on average equity was 7.76% compared to 2.25% negative return on average asset a year ago.
Bank of the James (the Bank) is a full-service commercial and retail bank. The Bank is a wholly owned subsidiary of Bank of the James Financial Group, Inc. The Bank is engaged in a general retail and commercial banking business. The Bankâs services include personal, business and online banking, loans, and investments. The Bank serves individuals, small and medium-sized businesses and professionals of the Central Virginia area from offices located in Altavista, Amherst, Appomattox, Bedford, Blacksburg, Charlottesville, Forest, Harrisonburg, Lexington, Lynchburg, Madison Heights, Roanoke, Rustburg, and Wytheville. The Bank offers full investment and insurance services through its BOTJ Investment Services division and BOTJ Insurance, Inc. subsidiary. It also provides mortgage loan origination through Bank of the James Mortgage, a division of Bank of the James. It also provides investment advisory services through its wholly owned subsidiary, Pettyjohn, Wood & White, Inc.
BANK OF THE JAMES FINANCIAL GROUP, INC. 
