The bank reported a 60% year-over-year net income increase, driven by expanded margins and stronger loan demand.
Potomac Bancshares posted Q2 non-GAAP earnings per share of $0.80 on revenue of $11.73M, reflecting a 9% linked-quarter and 60% year-over-year net income gain. The improvement was supported by a 3.76% net interest margin, up from prior periods, and a 7% annualized loan growth.
Return on assets reached 1.32%, while return on equity climbed to 15.52%. Deposits grew 1% annualized and 7% year-over-year, and book value per share rose 12% to $20.97. The board also approved a $0.15 cash dividend, a 15% increase over the prior quarter.