JBT Bancorp Inc (OTCMKTS:JBTC) stock Rallies Following 3rd Quarter 2022 Earnings

After it announced its earnings for the year until September 30, 2022 on October 14, 2022, the JBT Bancorp Inc (OTCMKTS:JBTC) stock went on an upward move and ended up with gains of as much as 5%. It may now be a good idea for investors to take a closer look at the numbers and make their minds up about the stock.

Trading Data

On Friday, JBTC stock jumped 5.39% to $29.90 with 200 shares, compared to its average volume 504 shares. The stock moved within a range of $29.90 – 29.90 after opening trade at $29.90.

JBTC Announces 3rd Quarter 2022 Earnings

The company announced that in that period it had managed to generate earnings of as much as $5,833,000. That figure reflects a rise of as much as 21.02% from the $4,820,000 in earnings that the company had generated in the prior year period.

On the other hand, the earning per share in the period stood at $2.40 and that was again a higher figure than the $1.98 per share in earnings in the prior year period. It reflected a year on year rise of 21.21%.

Troy A Peters, who is the Chief Executive Officer of JBT Bancorp, noted that everyone at the company was pleased at the sort of growth that had been seen in terms of loans through the course of the year so far. The strong performance in terms of net interest income was reflected in the company’s earnings, he added.

Key Quote

“We have been very pleased with our loan growth this year, particularly as rates have risen. Our earnings have been positively influenced by our strong net interest income performance. We are anticipating further rate increases and given the reduction of liquidity on many bank balance sheets, we expect greater pressure on our margin in the fourth quarter.” said President & CEO, Troy A. Peters.