Contact: Jenna L. Kesecker
Chief Financial Officer
Jefferson Security Bank Recognized as a Top 200 Community Bank
Shepherdstown, West Virginia – Jefferson Security Bank (OTC Pink: JFWV) is proud to announce that it has been named one of American Banker magazine’s Top 200 Community Banks for 2020, designating it as one of the highest performing community banks in the nation.
The annual ranking for community banks was released in the May 2020 issue of American Banker magazine. The ranking is based on a three year average of each bank’s return on average equity from 2017 to 2019. During this time, the Bank improved its return on average equity by 72%, from 6.31% in 2017 to 10.84% in 2019, representing a significant increase in efficiency and profit generation.
“We are honored to have earned a place among the Top 200 Community Banks for 2020 as designated by American Banker,” President and Chief Executive Officer Cindy Kitner said. “This acknowledgment confirms our ongoing efforts to enhance shareholder value and is a testament of our team’s hard work, dedication and commitment to our customers and the communities we serve. Our financial performance over the past several years is the result of our intentional efforts to build lasting customer relationships which has led to sustained growth in loans, deposits and assets. We also implemented positive changes to our operational processes resulting in a significant improvement in our efficiency and productivity,” Kitner added.
Chair of the Board, Fred Parsons, stated that “Since her appointment in March 2016, President and CEO Kitner has strategically led with a focus on customer satisfaction and improving operations at the Bank. We are proud of our leadership team and the changes implemented to generate improved financial performance resulting in record earnings in 2018 and 2019.”
About Jefferson Security Bank
Jefferson Security Bank is an independent community bank evolving with the needs of the customers and the communities it serves. Serving individuals, businesses and community organizations, Jefferson Security Bank strives to support entrepreneurial efforts within its target markets. Delivering long-term value to its shareholders is at the core of the organization’s culture. Jefferson Security Bank is a West Virginia state-chartered bank that was formed and opened for business on May 19, 1869, making it the oldest bank in Jefferson County, West Virginia. The bank provides general banking services in Berkeley County and Jefferson County, West Virginia, and Washington County, Maryland. Visit www.JSB.bank for more information.
This press release may contain forward-looking statements, as defined by federal securities laws, which may involve significant risks and uncertainties. The statements are based on estimates and assumptions made by management in conjunction with other factors deemed appropriate under the circumstances. Actual results could differ materially from current projections.Offices: 105 East Washington Street, Shepherdstown, WV (304-876-9000)7994 Martinsburg Pike, Shepherdstown, WV (304-876-2800)873 East Washington Street, Suite 100, Charles Town, WV (304-725-9752)277 Mineral Drive, Suite 1, Inwood, WV (304-229-6000)1861 Edwin Miller Boulevard, Martinsburg, WV (304-264-0900)103 West Main Street, Sharpsburg, MD (301-432-3900)