Bank of the James Reports Record First Half 2026 Net Income of $6.01M, $1.32 EPS; Declares $0.10 Quarterly Dividend
BOTJ has more than doubled off its 52-week low of $13.3.
Summary
Bank of the James reported Q2 2026 net income of $3.24M ($0.71 EPS), up 20% YoY, and first half net income of $6.01M ($1.32 EPS), nearly double the prior year. The board declared a $0.10 quarterly dividend.
Key Events · Earnings and Guidance · BOTJ
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Record First Half Earnings
Net income for the first half of 2026 reached $6.01 million, or $1.32 per share, nearly double the $3.55 million ($0.78 per share) earned in the first half of 2025.
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Strong Q2 Performance
Second quarter net income rose 20% to $3.24 million ($0.71 per share) from $2.70 million ($0.60 per share) a year ago, driven by higher net interest income and lower expenses.
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Expanding Margins and Efficiency
Net interest margin (tax-equivalent) improved to 3.71% from 3.44% in Q2 2025, while the efficiency ratio dropped to 67.82% from 76.71%, reflecting better cost control and revenue growth.
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Loan Growth and Asset Quality
Loans, net of allowance, grew to $686.08 million, up $37 million during the quarter. Nonperforming loans fell to $1.09 million, with allowance coverage at 6.05x, indicating strong credit quality.
Analysis · BOTJ · Finance
Bank of the James delivered a strong second quarter, with net income rising 20% year-over-year to $3.24 million, or $0.71 per share, driven by higher net interest income, robust loan growth, and improved efficiency. The first half net income of $6.01 million ($1.32 per share) nearly doubled the prior-year period, reflecting a 12.6% increase in net interest income and a 14.7% jump in noninterest income. The net interest margin expanded to 3.71% from 3.44% a year ago, while the efficiency ratio improved sharply to 67.82% from 76.71%. Asset quality strengthened, with nonperforming loans falling to just $1.09 million and allowance coverage rising to over 6x. The board also declared a $0.10 quarterly dividend, signaling confidence in the earnings trajectory. For a $125 million market cap community bank, these results underscore a meaningful turnaround in profitability and operating leverage.
At the time of this filing, BOTJ was trading at $27.61 on NASDAQ in the Finance sector, with a market capitalization of approximately $125.4M. The 52-week trading range was $13.30 to $29.79. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.