JEFFERSONVILLE, N.Y., May 11, 2016 (GLOBE NEWSWIRE) -- Jeffersonville Bancorp, Inc. (OTCQB:JFBC) announced today first quarter net income of $1,473,000 or $0.35 per share compared to $1,176,000 or $0.28 per share for the same quarter in 2015. The increase in quarterly net income was primarily due to a non-recurring life insurance benefit of $247,000 and a decrease in non-interest expense of $119,000, partially offset by a decrease in net interest income of $62,000.
A cash dividend in the amount of fourteen cents ($0.14) per share on the common stock of the company was declared at the May 10, 2016 meeting of the Board of Directors. The dividend is payable on June 1, 2016 to stockholders of record at the close of business on May 23, 2016.
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: George W. Kinne, Jr., President – CEO For More Information, call: 845-482-4000