Form 8-K Village Bank & Trust Financial Corp.

Form 8-K Village Bank & Trust Financial Corp.

Present report, things 2.02 and 9.01

SECURITIES AND TRADE COMMISSION

Washington, D.C. 20549

Pursuant to Section 13 or 15(d) associated with the Securities Exchange Act of 1934

Date of report (Date of earliest occasion reported): January 28, 2020

TOWN BANK AND TRUST FINANCIAL CORP.

(precise title of Registrant as Specified in Charter)

(State or any Other Jurisdiction

(Commission File Quantity)

13319 Midlothian Turnpike

(Address of Principal Executive Workplaces)

Registrant’s Cell Phone Number, Including Region Code: (804) 897-3900

(previous Name or Former Address, if Changed Since final Report)

Look at the appropriate field below in the event that Form 8-K filing is supposed to simultaneously fulfill the filing responsibility of this registrant under some of the following conditions:

? Written communications pursuant to Rule 425 beneath the Securities Act (17 CFR 230.425)
? Soliciting material pursuant to Rule 14a-12 beneath the Exchange Act (17 CFR 240.14a-12)
? Pre-commencement communications pursuant to Rule b that is 14d-2( beneath the Exchange Act (17 CFR 240.14d-2(b))
? Pre-commencement communications pursuant to Rule 13e-4(c) beneath the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) associated with the Act:

Title of every class Trading Symbol(s) Name of each and every change on which registered
popular Stock, par value $4.00 per share VBFC Nasdaq Capital marketplace

Indicate by check mark if the registrant is definitely a appearing growth company as defined in Rule 405 of this Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 associated with the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Growing development business ?

If a appearing development company, indicate by check mark in the event that registrant has elected to not make use of the extensive transition for complying with any new or revised economic accounting criteria supplied pursuant to Section 13(a) associated with Exchange Act. ?

Item 2.02 link between Operations and Financial Condition.

On January 28, 2020, Village Bank and Trust Financial Corp. Issued a news release reporting its economic outcomes for the time scale ended December 31, 2019. A duplicate regarding the pr release has been furnished as a display for this report and shall never be considered “filed” for any function.

Item 9.01 Financial Statements and Displays.

Display No. Definition
99.1 Press release dated January 28, 2020

Pursuant into the demands associated with the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this are accountable to be finalized on its behalf because of the undersigned hereunto duly authorized.

TOWN BANK AND TRUST FINANCIAL CORP.
(Registrant)
Date: January 28, 2020 By: /s/ Donald M. Kaloski, Jr.
Donald M. Kaloski, Jr.
Executive Vice President and CFO

For Immediate Launch

TOWN BANK AND TRUST FINANCIAL CORP.

REPORTS 12.11% RETURN NORMALLY EQUITY AND 50% DEVELOPMENT IN EARNINGS
FOR THE FOURTH QUARTER OF 2019

Midlothian, Virginia, January 28, 2020. Village Bank and Trust Financial Corp. (the “Company”) (Nasdaq icon: VBFC), parent business of Village Bank (the “Bank”), today reported unaudited outcomes for the quarter that is fourth of. Net gain when it comes to fourth quarter of 2019 had been $1,304,000, or $0.90 per completely diluted share, in comparison to net gain for the 4th quarter of 2018 of $856,000, or $0.60 per completely diluted share. For the year finished December 31, 2019, net gain had been $4,477,000 or $3.10 per completely diluted share, in comparison to net gain when it comes to year finished December 31, 2018 of $3,037,000, or $2.04 per completely diluted share. Net gain accessible to typical investors, which deducts from net gain the dividends on preferred stock, ended up being $2,924,000, or $2.04 per completely diluted share, for the year finished December 31, 2018. There is no stock that is preferred during 2019.

Highlights when it comes to 4th quarter and complete 12 months 2019 are the following:

Total deposits reduced by $34,231,000, or 7.17%, from Q3 2019, and increased by $4,161,000, or 0.95%, from Q4 2018. Variances of note are the following:

Noninterest demand that is bearing balances decreased $16,741,000 from Q3 2019 and increased $11,911,000 from Q4 2018, and represented 29.61% of total build up in comparison to 30.99per cent at the time of Q3 2019 and 27.18per cent at the time of Q4 2018. The reduction in noninterest bearing deposits during Q4 2019 ended up being a total results of company seasonality in several company sectors by which we concentrate. We think that the portion development from Q4 2018 to Q4 2019 is representative of our core development within the balances.
Cash market balances reduced $13,106,000 from Q3 2019 and increased by $13,660,000 from Q4 2018. The decline in cash market deposit records during Q4 2019 ended up being mainly due to the expected withdrawal of this short-term development noted inside our Q3 2019 press release.
Time deposits reduced by $6,632,000 from Q3 2019 and $18,352,000 from Q4 2018. The decrease in time deposits is because our concentrate on building cost that is low deposits and working to boost our deposits mix and value of funds. Time deposits represented 30.96% of total deposits in comparison to 30.13per https://speedyloan.net/installment-loans-ky/ cent at the time of Q3 2019 and 35.43per cent at the time of Q4 2018. Wholesale time deposits had been $1,494,000 at 12 months end 2019 when compared with $8,401,000 at 12 months end 2018.

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