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.
|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.|
|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: