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Form 8-K Village Bank & Trust Financial Corp.

Form 8-K Village Bank & Trust Financial Corp.

Present report, things 2.02 and 9.01

SECURITIES AND TRADE COMMISSION

Washington, D.C. 20549

Pursuant to Section 13 or 15(d) associated with the Securities Exchange Act of 1934

Date of report (Date of event that is earliest reported): January 28, 2020

TOWN BANK AND TRUST FINANCIAL CORP.

(precise title of Registrant as Specified in Charter)

(State or any Other Jurisdiction

(Commission File Quantity)

13319 Midlothian Turnpike

(Address of Principal Executive Offices)

Registrant’s Phone Number, Including Region Code: (804) 897-3900

(previous Name or Former Address, if Changed Since final Report)

Check out the appropriate package below in the event that Form 8-K filing is supposed to simultaneously fulfill the filing responsibility regarding the registrant under some of the following conditions:

? Written communications pursuant to Rule 425 underneath the Securities Act (17 CFR 230.425)
? Soliciting material pursuant to Rule 14a-12 underneath the Exchange Act (17 CFR 240.14a-12)
? Pre-commencement communications pursuant to Rule 14d-2(b) underneath the Exchange Act (17 CFR 240.14d-2(b))
? Pre-commencement communications pursuant to Rule 13e-4(c) beneath the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) for the Act:

Title of each and every class Trading Symbol(s) Name of each and every change on which registered
typical Stock, par value $4.00 per share VBFC Nasdaq Capital Market

Indicate by check mark if the registrant is definitely a growth that is emerging as defined in Rule 405 associated with the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of this Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging development business ?

If a growth that is emerging, indicate by check mark if the registrant has elected to not utilize the extensive transition for complying with any brand brand brand new or revised financial accounting criteria supplied pursuant to Section 13(a) of this Exchange Act. ?

Item 2.02 link between Operations and Financial Condition.

On January 28, 2020, Village Bank and Trust Financial Corp. Issued a news release reporting its economic outcomes for the time finished December 31, 2019. A duplicate associated with news release will be furnished being a display for this report and shall never be considered “filed” for any function.

Item 9.01 Financial Statements and Displays.

Display No. Definition
99.1 Press launch dated 28, 2020 january

Pursuant to the demands of this Securities Exchange Act of 1934, as amended, the Registrant has duly triggered this are accountable to be finalized on its behalf by the undersigned hereunto duly authorized.

TOWN BANK AND TRUST FINANCIAL CORP.
(Registrant)
Date: 28, 2020 By: /s/ Donald M. Kaloski, Jr.
Donald M. Kaloski, Jr.
Executive Vice President and CFO january

For Immediate Launch

TOWN BANK AND TRUST FINANCIAL CORP.

REPORTS 12.11% RETURN NORMALLY EQUITY AND 50% DEVELOPMENT IN EARNINGS
FOR THE FOURTH QUARTER OF 2019

Midlothian, Virginia, January 28, 2020. Village Bank and Trust Financial Corp. (the “Company”) (Nasdaq icon: VBFC), parent business of Village Bank (the “Bank”), today reported unaudited outcomes for the quarter that is fourth of. Net gain for the 4th quarter of 2019 had been $1,304,000, or $0.90 per completely diluted share, when compared with income that is net the fourth quarter of 2018 of $856,000, or $0.60 per completely diluted share. For the year finished December 31, 2019, net gain had been $4,477,000 or $3.10 per completely diluted share, in comparison to net gain when it comes to year finished December 31, 2018 of $3,037,000, or $2.04 per fully diluted share. Net gain accessible to typical investors, which deducts from net gain the dividends on favored stock, had been $2,924,000, or $2.04 per completely diluted share, for the year finished December 31, 2018. There was clearly no stock that is preferred during 2019.

Shows when it comes to 4th quarter and full 12 months 2019 are the following:

Total deposits reduced by $34,231,000, or 7.17%, from Q3 2019, and increased by $4,161,000, or 0.95%, from Q4 2018. Variances of note are the following:

Noninterest bearing demand account balances decreased $16,741,000 from Q3 2019 and increased $11,911,000 from Q4 2018, and represented 29.61percent of total build up when online installment loans il compared with 30.99% at the time of Q3 2019 and 27.18per cent at the time of Q4 2018. The reduction in noninterest bearing deposits during Q4 2019 had been consequence of company seasonality in many different company sectors by which we concentrate. We genuinely believe that the portion development from Q4 2018 to Q4 2019 is representative of our core development into the balances. Cash market balances reduced $13,106,000 from Q3 2019 and increased by $13,660,000 from Q4 2018. The reduction in cash market deposit records during Q4 2019 ended up being mainly due to the expected withdrawal of this short-term growth noted within our Q3 2019 pr release. Time deposits reduced by $6,632,000 from Q3 2019 and $18,352,000 from Q4 2018. The reduction in time deposits is because of our concentrate on building cost that is low deposits and dealing to boost our deposits mix and price of funds. Time deposits represented 30.96% of total build up in comparison to 30.13per cent at the time of Q3 2019 and 35.43per cent at the time of Q4 2018. Wholesale time deposits had been $1,494,000 at 12 months end 2019 when compared with $8,401,000 at 12 months end 2018.
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