$BOTJ

BANK OF THE JAMES FINANCIAL GROUP INC

CIK:0001275101|SEC Filings

Consolidated Statements Of Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Consolidated Statements Of Income - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Interest Income
Loans	$ 9,737	$ 9,341	$ 19,164	$ 18,247
Securities
US Government and agency obligations	619	548	1,252	1,002
Mortgage backed securities	741	377	1,191	764
Municipals - taxable	402	330	800	641
Municipals - tax exempt	62	24	125	42
Dividends	34	35	45	48
Corporates	152	136	297	271
Interest bearing deposits	127	127	225	250
Federal Funds sold	413	720	1,037	1,607
Total interest income	12,287	11,638	24,136	22,872
Deposits
NOW, money market savings	999	1,258	2,027	2,506
Time deposits	1,893	1,945	3,847	4,024
Finance leases	14	17	28	34
Other borrowings	127	87	246	176
Capital notes		81		163
Total interest expense	3,033	3,388	6,148	6,903
Net interest income	9,254	8,250	17,988	15,969
Provision for (Recovery of) credit losses	350	(528)	204	(391)
Net interest income after provision for (recovery of) credit losses	8,904	8,778	17,784	16,360
Noninterest income
Gains on sale of loans held for sale	1,529	1,589	2,725	2,426
Service charges, fees and commissions	1,149	975	2,143	1,956
Wealth management fees	1,466	1,300	2,879	2,555
Life insurance income	214	190	425	378
Income from small business investment company	70		201
Gain on sales of securities	1		1
Other	47	21	66	43
Total noninterest income	4,476	4,075	8,440	7,358
Noninterest expenses
Salaries and employee benefits	5,510	5,357	11,010	10,134
Occupancy	523	497	1,131	1,067
Equipment	706	654	1,453	1,324
Supplies	132	168	292	310
Professional and other outside expense	756	755	1,526	2,470
Data processing	519	782	994	1,602
Marketing	258	237	447	435
Credit expense	259	263	449	449
FDIC insurance expense	118	120	254	262
Amortization of intangibles	140	140	280	280
Other	390	482	840	948
Total noninterest expenses	9,311	9,455	18,676	19,281
Income before income taxes	4,069	3,398	7,548	4,437
Income tax expense	829	694	1,534	891
Net income	$ 3,240	$ 2,704	$ 6,014	$ 3,546
Weighted average shares outstanding - basic	4,543,338	4,543,338	4,543,338	4,543,338
Weighted average shares outstanding - diluted	4,543,338	4,543,338	4,543,338	4,543,338
Earnings per common share – basic	$ 0.71	$ 0.60	$ 1.32	$ 0.78
Earnings per common share - diluted	$ 0.71	$ 0.60	$ 1.32	$ 0.78

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities
Net Income	$ 3,240	$ 6,014	$ 3,546
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		698	662
Net amortization and accretion of premiums and discounts on securities		(4)	139
Amortization of debt issuance costs			2
Gain on sales of securities available-for-sale	(1)	(1)
Gain on sales of loans held for sale	(1,529)	(2,725)	(2,426)
Proceeds from sales of loans held for sale		96,295	96,007
Origination of loans held for sale		(95,749)	(94,191)
Provision for (recovery of) credit losses	350	204	(391)
Amortization of intangibles	140	280	280
Bank owned life insurance income	(214)	(425)	(378)
Increase in accrued interest receivable		(12)	(83)
(Increase) decrease in other assets		(796)	727
(Decrease) increase in accrued interest payable		(46)	134
Increase in other liabilities		1,638	388
Net cash provided by operating activities		5,371	4,416
Cash flows from investing activities
Purchases of securities available-for-sale		(34,639)	(19,182)
Proceeds from maturities, calls and paydowns of securities available-for-sale		3,830	15,650
Proceeds from sales of securities available-for-sale	5,588	5,588	0
Purchases of restricted securities		(44)	(7)
Origination of loans, net of principal collected		(25,045)	(12,013)
Purchases of premises and equipment		(682)	(747)
Purchase of SBIC fund		(100)	(150)
Net cash used in investing activities		(51,092)	(16,449)
Cash flows from financing activities
Net (decrease) increase in deposits		(1,945)	28,123
Principal payments on finance lease obligations		(230)	(224)
Repayment of capital notes			(10,050)
Repayment of other borrowings		(125)	(308)
Dividends paid to common stockholders		(909)	(910)
Net cash (used in) provided by financing activities		(3,209)	16,631
(Decrease) increase in cash and cash equivalents		(48,930)	4,598
Cash and cash equivalents at beginning of period		84,475	73,309
Cash and cash equivalents at end of period	$ 35,545	35,545	77,907
Noncash transactions
Unrealized (losses) gains on securities available-for-sale		(2,530)	5,268
Cash transactions
Cash paid for interest		6,194	6,769
Cash paid for income taxes		$ 1,611	$ 690

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Assets
Cash and due from banks	$ 24,675	$ 28,538
Federal funds sold	10,870	55,937
Total cash and cash equivalents	35,545	84,475
Securities held-to-maturity, at amortized cost (fair value of $3,267 as of June 30, 2026 and $3,315 as of December 31, 2025) net of allowance for credit losses of $0 as of June 30, 2026 and December 31, 2025	3,581	3,590
Securities available-for-sale, at fair value	236,832	214,128
Restricted stock, at cost	1,872	1,828
Loans, net of allowance for credit losses of $6,597 as of June 30, 2026 and $6,450 as of December 31, 2025	686,084	661,357
Loans held for sale	5,651	3,472
Premises and equipment, net	19,051	19,132
Interest receivable	3,392	3,380
Cash value - bank owned life insurance	24,101	23,676
Customer relationship intangible	5,884	6,164
Goodwill	2,054	2,054
Other assets	17,260	15,768
Total assets	1,041,307	1,039,024
Deposits
Noninterest bearing demand	136,390	131,456
NOW, money market and savings	563,425	570,345
Time	235,369	235,328
Total deposits	935,184	937,129
Other borrowings	8,671	8,796
Interest payable	1,121	1,167
Other liabilities	13,178	11,884
Total liabilities	958,154	958,976
Stockholders’ equity
Common stock $2.14 par value; authorized 10,000,000 shares; issued and outstanding 4,543,338 as of June 30, 2026 and December 31, 2025	9,723	9,723
Additional paid-in-capital	35,253	35,253
Retained earnings	55,114	50,009
Accumulated other comprehensive loss	(16,937)	(14,937)
Total stockholders’ equity	83,153	80,048
Total liabilities and stockholders’ equity	$ 1,041,307	$ 1,039,024