SVB&T Corporation, Parent Company of Springs Valley Bank & Trust Company, Reports Unaudited Financial Data for Year to Date June 30, 2017

The financial sector continues to lead the way in the robust equities market and serves as a barometer for the economy overall. 

SVB&T Corporation, parent company of Springs Valley Bank & Trust Company, today announced unaudited year to date (YTD) earnings of $1.7 Million ($2.97 basic earnings per share). This compares to June 30, 2016 YTD earnings of $1.6 Million ($2.85 basic earnings per share). This translates to a YTD 2017 Return on Average Assets (ROAA) of 0.93%, Return on Average Equity (ROAE) of 9.47%, and Tangible Capital Ratio (TCR) of 9.98%. For the same period in 2016, SVB&T Corporation had a ROAA of 0.98%, ROAE of 9.58%, and TCR of 10.44%. The net interest margin (NIM) decreased slightly to 3.51% through June 30, 2017, as compared to a year-end NIM of 3.65%.

The Corporation’s total assets increased $11.9 Million from year-end 2016 of $353.3 Million to $365.2 Million at June 30, 2017. Total deposits increased $11.7 Million to $295.7 Million at June 30, 2017, from $284.0 Million at December 31, 2016; the growth was primarily in short term deposits. Over that same period, borrowings decreased to $29.4 Million from $29.7 Million. Pricing to meet the competition on both sides of the balance sheet (loans and deposits) accounted for the 14 points of margin compression. Management and the Board expect margins to stabilize and potentially show improvement throughout the remainder of the year as the Federal Reserve gradually increases interest rates.

The Corporation reported total loans of $282.7 Million at June 30, 2017, an increase of $9.5 Million or 3.49% over December 31, 2016 and a $22.6 Million or 8.70% increase from June 30, 2016.

“Despite the gridlock in Washington, after six months of a new Administration the economy continues to slowly gain momentum while sending mixed signals,” stated President & CEO Jamie Shinabarger. “The financial sector continues to lead the way in the robust equities market and serves as a barometer for the economy overall. Our fundamentals mirror those of the financial sector in general and thus, at the half-way mark of 2017, we are proud to report that SVB&T Corporation is on pace for another successful year.”

Contact Information

For more information contact:  Darrell Blocker, Senior Executive Vice President & CFO at 812.634.4803  or dblocker@svbt.com.

Information conveyed in this press release regarding Springs Valley Bank & Trust Company’s anticipated future performance is forward-looking and therefore involves risks and uncertainties that could cause the results or developments to differ significantly from those indicated in these statements. These risks and uncertainties include, but are not limited to, risks and uncertainties inherent in general and local banking as well as mortgage conditions, competitive factors specific to markets in which the company and its subsidiaries operate, future interest rate levels, changes in local real estate markets, legislative and regulatory decisions or capital market conditions and other factors.