Bank of Botetourt announces second quarter financial results and quarterly cash dividend

BUCHANAN, Va., July 30, 2026 /PRNewswire/ -- Buchanan-based Bank of Botetourt (OTCID: BORT and BORTP) announced today its unaudited financial results for the three and six months-ended June 30, 2026. The Bank produced net income amounting to $5,300,000 or $2.62 per basic share in the second quarter. This amount compares to net income of $3,168,000 or $1.55 per share, for the same period last year.  For the six months-ended the Bank produced net income amounting to $8,386,000 or $4.13 per basic share. This amount compares to a net income of $5,212,000 or $2.53 per share, for the same period last year.  The Board of Directors voted to pay the 7.00% preferred dividend, which calculates to $0.49 per share on August 7, 2026, to preferred shareholders of record July 31, 2026.  Furthermore, the Board of Directors voted to pay the $0.25 per share quarterly dividend, or $1.00 per share annualized, which is payable on August 17, 2026, to common shareholders of record August 10, 2026.

The second quarter results benefited from a significant one-time, non-recurring income event, which complemented another quarter of sound operating performance across our Bank.  Bearing Insurance Group, LLC ("Bearing") completed its sale to BroadStreet Partners Group, LLC.  Bank of Botetourt owned 3 units of Bearing and upon consummation of the sale recorded a one-time, pre-tax gain of $3,800,000 on the transaction, which was recognized in its financial results for the second quarter of 2026.   President & CEO, Michelle Austin stated, "The additional earnings generated from this transaction strengthened our capital position and enhanced shareholder value while providing greater flexibility to support our long-term strategic objectives." 

Second Quarter 2026 Highlights

Income Statement

Balance Sheet and Asset Quality

Capital

As of June 30, 2026, Bank of Botetourt reported its CBLR ratio at 11.00% which meets the required regulatory minimum ratio. This compares to a CBLR ratio of 10.42% at December 31, 2025.

About Bank of Botetourt

Chartered in 1899, Bank of Botetourt is a full-service community bank serving customers through fourteen retail offices across Botetourt, Franklin, Roanoke, and Rockbridge counties, as well as the Cities of Roanoke and Salem and the Towns of Vinton and Rocky Mount in Virginia. The Bank also operates Virginia Mountain Mortgage, its residential lending division, and Botetourt Wealth Management, offering financial planning and investment services. Recognized by Forbes as a multi-year top-ranked bank in Virginia, Bank of Botetourt continues to build on its long-standing tradition of service, strength, and local commitment.

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SOURCE Bank of Botetourt