JONESTOWN, Pa., July 31, 2020 (GLOBE NEWSWIRE) -- Jonestown Bank & Trust Co. (JBT) - (OTC Pink: JNES) reported earnings of $617,000 or $0.25 per share for the second quarter of 2020, down 59.5% from $1,522,000 or $0.62 per share in the prior year. “The Bank made a provision of $1,045,000 to the allowance for loan losses as a result of the pandemic and its economic effects. This directly impacted earnings. Both deposit and loan growth were remarkably strong given the current environment. We are particularly proud to have assisted nearly 300 businesses with Paycheck Protection Program funding that directly impacted 2,726 local employees by insuring their paychecks during this crisis.” said President & CEO, Troy A. Peters.
More information is available in the quarterly shareholder letter found on the Investors Relations tab of jbt.bank.
The bank (marketed as JBT) serves customers in and around Lebanon and Lancaster Counties in Pennsylvania. Founded in 1873, the bank currently has 14 full-service locations. For more corporate information about JBT/JNES, please visit jbt.bank, or contact Andrea Shetterly at 717-865-4246.
Contact: Andrea Shetterly, EAA
ashetterly@jbt.bank
Jonestown Bank & Trust Co.
2 West Market Street
Jonestown, PA 17038-0717
Phone: 717-865-4246