Form 8-K Village Bank & Trust Financial Corp.

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Form 8-K Village Bank & Trust Financial Corp.

Current report, things 2.02 and 9.01

SECURITIES AND TRADE COMMISSION

Washington, D.C. 20549

Pursuant to Section 13 or 15(d) of this 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 Workplaces)

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

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

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

? Written communications pursuant to Rule 425 beneath the Securities Act (17 CFR 230.425)
? Soliciting material pursuant to Rule 14a-12 beneath the Exchange Act (17 CFR 240.14a-12)
? Pre-commencement communications pursuant to Rule 14d-2(b) beneath 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) regarding the Act:

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

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

Growing development business ?

If a rising development company, indicate by check mark in the event that registrant has elected not to ever utilize the extensive transition for complying with any brand brand new or revised economic accounting criteria supplied pursuant to Section 13(a) for the 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 monetary outcomes for the time finished December 31, 2019. A duplicate associated with news release has been furnished being a display to the report and shall never be considered “filed” for any function.

Item 9.01 Financial Statements and Displays.

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

Pursuant towards the needs associated with the Securities Exchange Act of 1934, as amended, the Registrant has duly triggered this are accountable to be finalized on its behalf because of 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 Release

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, 28, 2020 january. Village Bank and Trust Financial Corp. (the “Company”) (Nasdaq icon: VBFC), parent business of Village Bank (the “Bank”), today reported unaudited outcomes for the 4th quarter of 2019. Net gain when it comes to 4th quarter of 2019 ended up being $1,304,000, or $0.90 per completely diluted share, in comparison to income that is net the 4th quarter of 2018 of $856,000, or $0.60 per completely diluted share. For the year finished December 31, 2019, net gain ended up being $4,477,000 or $3.10 per fully diluted share, in comparison to net income when it comes to year finished December 31, 2018 of $3,037,000, or $2.04 per completely diluted share. Net gain open 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 clearly was no stock that is preferred during 2019.

Features when it comes to 4th quarter and complete 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 demand that is bearing balances decreased $16,741,000 from Q3 2019 and increased $11,911,000 from Q4 2018, and represented 29.61percent of total build up in comparison to 30.99per cent at the time of Q3 2019 and 27.18per cent at the time of Q4 2018. The decline in noninterest installment loans illinois bearing deposits during Q4 2019 ended up being outcome of company seasonality in many company sectors by which we concentrate. We think that the percentage development from Q4 2018 to Q4 2019 is representative of our core development into the balances.
Money market balances reduced $13,106,000 from Q3 2019 and increased by $13,660,000 from Q4 2018. The reduction in cash market deposit reports during Q4 2019 had been mainly due to the anticipated withdrawal of this growth that is temporary within our Q3 2019 news 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 our concentrate on building low priced relationship deposits and working to enhance 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 35.43% 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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