$JMSB

John Marshall Bancorp, Inc.

CIK:0001710482|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 and Dividend Income
Interest and fees on loans	$ 27,224	$ 25,220	$ 53,811	$ 50,027
Interest on investment securities, taxable	1,268	1,071	2,434	2,102
Interest on investment securities, tax-exempt	9	9	18	18
Dividends	119	121	234	244
Interest on deposits in banks	1,129	1,422	2,335	2,756
Total interest and dividend income	29,749	27,843	58,832	55,147
Interest Expense
Deposits	11,517	12,001	23,190	24,300
Federal funds purchased	4	2	4	2
Federal Home Loan Bank advances	545	565	1,097	1,124
Subordinated debt	349	349	698	698
Total interest expense	12,415	12,917	24,989	26,124
Net Interest Income	17,334	14,926	33,843	29,023
Provision for credit losses	258	537	281	707
Net interest income after provision for credit losses	17,076	14,389	33,562	28,316
Non-interest Income
Service charges on deposit accounts	86	86	171	168
Other service charges and fees	184	141	322	294
Gain on sale of other assets	835		835
Insurance commissions	29	33	93	246
Gain on sale of government guaranteed loans		61	6	97
Non-qualified deferred compensation plan asset gains, net	262	182	249	206
Other income	47	4	52	1
Total non-interest income	1,443	507	1,728	1,012
Non-interest Expenses
Salaries and employee benefits	6,157	5,178	11,777	10,277
Occupancy expense of premises	396	407	802	814
Furniture and equipment expenses	347	315	693	631
Other operating expenses	2,590	2,413	5,141	4,839
Total non-interest expenses	9,490	8,313	18,413	16,561
Income before income taxes	9,029	6,583	16,877	12,767
Income Tax Expense	2,010	1,480	3,756	2,854
Net income	$ 7,019	$ 5,103	$ 13,121	$ 9,913
Earnings per share, basic (in dollars per share)	$ 0.5	$ 0.36	$ 0.93	$ 0.69
Earnings per share, diluted (in dollars per share)	$ 0.5	$ 0.36	$ 0.93	$ 0.69

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash Flows from Operating Activities
Net income	$ 13,121	$ 9,913
Adjustment to reconcile net income to net cash provided by operating activities:
Depreciation	240	252
Right of use asset amortization	527	342
Provision for credit losses	281	707
Share-based compensation expense	282	238
Net accretion of securities	(159)	(101)
Fair value adjustment on equity securities	(249)	(206)
Amortization of debt issuance costs	41	42
Net loss on premises and equipment		3
Gain on sale of other assets	(835)
Deferred tax expense (benefit)	3	(255)
Gain on sale of government guaranteed loans	(6)	(97)
Changes in assets and liabilities:
(Increase) decrease in accrued interest receivable	(111)	152
Increase in other assets	(816)	(1,463)
Decrease in accrued interest payable	(69)	(114)
Increase in other liabilities	1,301	5,080
Net cash provided by operating activities	13,551	14,493
Cash Flows from Investing Activities
Net decrease in loans	(39,795)	(45,749)
Proceeds from sale of government guaranteed loans originally classified as held for investment	84	1,105
Purchase of available-for-sale securities	(32,723)	(13,987)
Proceeds from maturities, calls and principal repayments of available-for-sale securities	29,100	21,640
Proceeds from maturities, calls and principal repayments of held-to-maturity securities	1,575	1,690
Net purchases of restricted securities	(77)	(3)
Net purchases of equity securities	(8)	(58)
Proceeds from sale of other assets	1,265
Proceeds from sale of premises and equipment		47
Purchases of bank premises and equipment	(7)	(503)
Net cash used in investing activities	(40,586)	(35,818)
Cash Flows from Financing Activities
Net increase in deposits	20,700	4,478
Cash dividends paid	(2,549)	(4,270)
Proceeds from federal funds purchased	40,000	16,500
Issuance of common stock for share options exercised		446
Repurchase of shares for tax withholding on share-based compensation	(3)	(15)
Repurchase of common stock	(2,043)	(1,357)
Excise tax payment on repurchases of common stock	(18)
Net cash provided by financing activities	56,087	15,782
Net increase (decrease) in cash and cash equivalents	29,052	(5,543)
Cash and cash equivalents, beginning of period	129,974	122,469
Cash and cash equivalents, end of period	159,026	116,926
Supplemental Disclosures of Cash Flow Information
Interest	25,017	26,196
Total income taxes paid	3,032	3,008
Supplemental Disclosures of Noncash Transactions
Unrealized (loss) gain on securities available-for-sale	$ (797)	2,757
Right of use asset obtained in exchange for new operating lease liability		$ 225

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Assets
Cash and due from banks	$ 6,483	$ 6,492
Interest-bearing deposits in other banks	152,543	123,482
Total cash and cash equivalents	159,026	129,974
Securities available-for-sale, at fair value	126,873	123,852
Securities held-to-maturity at amortized cost, fair value of $75,734 and $77,575 as of June 30, 2026 and December 31, 2025, respectively	86,792	88,421
Restricted securities, at cost	7,721	7,644
Equity securities, at fair value	3,100	2,843
Loans, net of unearned income	2,014,939	1,975,360
Less: Allowance for loan credit losses	(20,196)	(19,805)
Loans, net	1,994,743	1,955,555
Bank premises and equipment, net	1,082	1,315
Accrued interest receivable	6,001	5,890
Right of use assets	4,024	4,551
Other assets	13,059	12,505
Total assets	2,402,421	2,332,550
Deposits:
Non-interest bearing demand deposits	451,543	432,733
Interest-bearing demand deposits	698,048	745,323
Savings deposits	31,758	34,683
Time deposits	811,636	759,546
Total deposits	1,992,985	1,972,285
Federal funds purchased	40,000
Federal Home Loan Bank advances	56,000	56,000
Subordinated debt	24,916	24,875
Accrued interest payable	2,055	2,124
Lease liabilities	4,265	4,819
Other liabilities	8,416	6,809
Total liabilities	2,128,637	2,066,912
Commitments and contingencies (Note 7)
Shareholders' Equity
Preferred stock, par value $0.01 per share; authorized 1,000,000 shares; none issued
Additional paid-in capital	93,918	95,699
Retained earnings	187,485	176,913
Accumulated other comprehensive loss	(7,759)	(7,115)
Total shareholders' equity	273,784	265,638
Total liabilities and shareholders' equity	2,402,421	2,332,550
Common stock, non voting
Shareholders' Equity
Common stock
Common stock, voting
Shareholders' Equity
Common stock	$ 140	$ 141