SHEPHERDSTOWN, W. Va.–(BUSINESS WIRE)–Jefferson Safety Bank (OTC Pink: JFWV) is proud to announce that it has been named certainly one of American Banker journal’s Prime 200 Neighborhood Banks for 2020, designating it as one of many highest performing neighborhood banks within the nation.
The annual rating for neighborhood banks was launched within the May 2020 concern of American Banker journal. The rating is predicated on a 3 12 months common of every bank’s return on common fairness from 2017 to 2019. Throughout this time, the Bank improved its return on common fairness by 72%, from 6.31% in 2017 to 10.84% in 2019, representing a major improve in effectivity and revenue technology.
“We are honored to have earned a place among the Top 200 Community Banks for 2020 as designated by American Banker,” President and Chief Govt Officer Cindy Kitner stated. “This acknowledgment confirms our ongoing efforts to enhance shareholder value and is a testament of our team’s hard work, dedication and commitment to our customers and the communities we serve. Our financial performance over the past several years is the result of our intentional efforts to build lasting customer relationships which has led to sustained growth in loans, deposits and assets. We also implemented positive changes to our operational processes resulting in a significant improvement in our efficiency and productivity,” Kitner added.
Chair of the Board, Fred Parsons, acknowledged that “Since her appointment in March 2016, President and CEO Kitner has strategically led with a focus on customer satisfaction and improving operations at the Bank. We are proud of our leadership team and the changes implemented to generate improved financial performance resulting in record earnings in 2018 and 2019.”
About Jefferson Safety Bank
Jefferson Safety Bank is an impartial neighborhood bank evolving with the wants of the purchasers and the communities it serves. Serving people, companies and neighborhood organizations, Jefferson Safety Bank strives to help entrepreneurial efforts inside its goal markets. Delivering long-term value to its shareholders is on the core of the group’s tradition. Jefferson Safety Bank is a West Virginia state-chartered bank that was shaped and opened for enterprise on May 19, 1869, making it the oldest bank in Jefferson County, West Virginia. The bank supplies normal banking providers in Berkeley County and Jefferson County, West Virginia, and Washington County, Maryland. Go to www.JSB.bank for extra data.
This press launch may include forward-looking statements, as outlined by federal securities legal guidelines, which may contain vital dangers and uncertainties. The statements are based mostly on estimates and assumptions made by administration at the side of different elements deemed acceptable beneath the circumstances. Precise outcomes may differ materially from present projections.
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