Tue, May 14, 1:10 PM (73 days ago)
The financial summary for John Marshall Bancorp, Inc. for the quarter ending March 31, 2024, reveals a robust financial position with total assets amounting to $2.25 billion, a slight increase from the previous quarter. The company reported a net income of $4.2 million, with earnings per share at $0.30, both diluted and basic. The bank's loan portfolio slightly decreased to $1.82 billion, while deposits slightly decreased to $1.90 billion. The allowance for loan credit losses was $18.67 million, indicating sound credit management. The bank maintains a strong capital adequacy with a total risk-based capital ratio of 16.1%. The net interest income was $11.74 million, with a net interest margin of 2.11%. Non-interest income increased to $818,000, primarily due to gains on sale of government guaranteed loans. Non-interest expenses were controlled at $7.92 million. The bank's liquidity and capital resources remain robust, ensuring operational stability and growth potential.