{"id":424304,"date":"2021-01-28T18:17:09","date_gmt":"2021-01-28T23:17:09","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=424304"},"modified":"2021-01-28T18:17:09","modified_gmt":"2021-01-28T23:17:09","slug":"the-bank-of-fincastle-announces-fourth-quarter-earnings-for-2020","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/the-bank-of-fincastle-announces-fourth-quarter-earnings-for-2020\/","title":{"rendered":"The Bank of Fincastle Announces Fourth Quarter Earnings for 2020"},"content":{"rendered":"
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PR Newswire<\/p>\n<\/p><\/div>\n

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\n FINCASTLE, Va.<\/span>, Jan. 28, 2021<\/span> \/PRNewswire\/ —\u00a0The Bank of Fincastle<\/span> [SYMBOL: BFTL] has reported an unaudited quarterly net income of $547,950<\/span> for the fourth quarter of 2020, with assets of $255.9 million<\/span> and total liabilities of $255.9 million<\/span>. <\/p>\n

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“We are pleased to report strong quarter-end results in a year that has presented many challenges,” said Scott Steele President<\/span> and CEO. “With quarter ending net income of $547,950<\/span>, net loans at $198.4 million<\/span> and total deposits of $224.3 million<\/span> our Bank is well-positioned as we progress into the new year.”<\/p>\n

“The economic effects of the pandemic continue, however COVID-19 related payment deferrals are down 88.75 percent from their peak. Of the $43.7 million<\/span> in deferrals processed, $38.8 million<\/span> have returned to full payment status with the first scheduled payments received,” Steele continued.<\/p>\n

“We are once again processing applications for the SBA Paycheck Protection Program (PPP) for eligible borrowers including those who previously received a PPP loan and wish to apply for a second draw PPP loan,” confirmed Steele. \u00a0Application information about the second round of PPP is now available on The Bank of Fincastle<\/span> website www.bankoffincastle.bank<\/a>.<\/p>\n

The Bank of Fincastle<\/span> also welcomed Peter Jessee<\/span> as Roanoke City Executive. Prior to joining The Bank of Fincastle<\/span>, Jessee served as Senior Vice President and commercial relationship manager at American National Bank and Senior Vice President and commercial real estate lender at HomeTown Bank, both in Roanoke Virginia<\/span>. With a total of more than 30 years banking experience, Jessee will oversee commercial and small business lending as well as deposit growth in the Roanoke<\/span> area.<\/p>\n

Also in the fourth quarter, a new drive-up automated teller machine was installed in the location of the previous Daleville<\/span> express drive-thru and is now fully operational. A ribbon cutting ceremony is scheduled for the first quarter of 2021.<\/p>\n

The branch lobbies remain open by appointment for full-service banking and drive-thru banking is encouraged.\u00a0 The bank offers a complete line of digital banking options, including online account opening, online personal and mortgage loan applications and mobile banking apps for personal and business accounts.<\/p>\n

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