Bank of Botetourt Reports Q2 Financial Results and Announces Dividend Payments
Buchanan-based Bank of Botetourt (OTCID: BORT) reported second-quarter net income of $5.3 million, or $2.62 per basic share for the three months ended June 30, 2026 — a significant increase from $3.17 million in Q2 2025. For the six-month period ending on the same date, it earned $8.39 million compared to $5.21 million last year. The results were bolstered by a one-time pre-tax gain of $3.8 million following its sale of three units of Bearing Insurance Group. The bank also announced dividend payments for both preferred and common shareholders: the 7% preferred dividend will be paid on August 7, while the quarterly cash dividend of $0.25 per share is set to go out on August 17. The CEO noted that these earnings have strengthened capital position and support long-term strategic goals. Key financial highlights include a net interest margin increase to 4.02%, driven by lower funding costs, as well as strong growth in noninterest income due largely to the one-time gain.
Topics: acquisition banking dividends net_income