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Jeffersonville Bancorp Announces Second Quarter Earnings of $1,283,000, Declares Quarterly Dividend of $0.14

JEFFERSONVILLE, N.Y., Aug. 13, 2015 (GLOBE NEWSWIRE) -- Jeffersonville Bancorp, Inc. (OTCQB:JFBC) announced today second quarter net income of $1,283,000 or $0.30 per share compared to $1,277,000 or $0.30 per share for the same quarter in 2014. The increase in quarterly net income was primarily due to a decrease in provision for loan loss of $100,000 partially offset by decreases in net interest income of $65,000 and other non-interest income of $28,000.

Year to date net income as of June 30, 2015 was $2,459,000 or $0.58 per share compared to $2,589,000 or $0.61 per share for the same period in 2014. The decrease in year to date net income was primarily due to an increase of $346,000 in total non-interest expense, partially offset by a decrease in the provision for loan loss of $200,000 and an increase in fee income of $46,000.

A cash dividend in the amount of fourteen cents ($0.14) per share on the common stock of the company was declared at the August 11, 2015 meeting of the Board of Directors. The dividend is payable on September 1, 2015 to stockholders of record at the close of business on August 24, 2015.

Jeffersonville Bancorp is a one-bank holding company, which owns all the capital stock of Jeff Bank. Jeff Bank maintains twelve full service branches in Sullivan County, New York located in Bloomingburg, Eldred, Callicoon, Jeffersonville, Liberty, Livingston Manor, Loch Sheldrake, Monticello, Narrowsburg, Wal-Mart/Monticello, White Lake and Wurtsboro.

CONTACT: For More Information, call: 845-482-4000 Wayne Zanetti, President - CEOSource:Jeffersonville Bancorp