JEFFERSONVILLE, N.Y., May 14, 2024 — Jeffersonville Bancorp, Inc. announced today first quarter net income of $2,553,000 or $0.60 per share compared to $2,660,000 or $0.63 per share for the same quarter in 2023.
“The Company’s interest income has largely kept pace with higher deposit expense, resulting in our earnings remaining at favorable levels compared to peers.” said George W. Kinne, Jr., President and CEO, “Our focus on preserving liquidity, using securities runoff to fund higher rate loans and earn higher rates on excess reserves at the Fed, has worked to our advantage in the current environment.
A cash dividend in the amount of fifteen cents per share on the common stock of the company was declared at the May 14, 2024 meeting of the Board of Directors. The dividend is payable on June 6, 2024 to stockholders of record at the close of business on May 28, 2024. Jeffersonville Bancorp is a one-bank holding company, which owns all the capital stock of Jeff Bank. Jeff Bank maintains ten full-service branches in Sullivan and Orange County, New York located in Anawana Lake Road/Monticello, Eldred, Callicoon, Jeffersonville, Liberty, Livingston Manor, Monticello, Port Jervis, White Lake, and Wurtsboro.