trending Market Intelligence /marketintelligence/en/news-insights/trending/cuZiW2HsHxkDD0osh4NfuA2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Lending reserve provision cuts Bank of the James Financial Group earnings

Street Talk Episode 68 - As many investors zig away from bank stocks, 2 vets in the space zag toward them

Street Talk Episode 66 - Community banks tap the debt markets while the getting is good

Street Talk Episode 67 - Veteran investor tabs Mick Mulvaney to help with latest financial stock-focused fund

Street Talk Episode 65 - Deferral practices trap US bank portfolios in purgatory

Lending reserve provision cuts Bank of the James Financial Group earnings

A provision for a commercial lending relationship for unit Bank of the James resulted in a decrease of roughly $604,000, or 14 cents per share, in Bank of the James Financial Group Inc.'s earnings both for the quarter and year ended Dec. 31, 2016.

The provision of $915,000 was made Jan. 17 by the company's board and was made effective for the quarter and year ended Dec. 31, 2016.

It involves two outstanding loans to a commercial construction contractor with a principal balance on the two notes totaling approximately $915,000. The bank has a longstanding relationship with the borrower, who has consistently complied with its obligations, the bank said in a Form 8-K filed Jan. 23.

The bank said it received information regarding the borrower's business that led management to downgrade the loans to a "substandard" risk rating and it deemed the loans 100% impaired. Therefore, it added the full amount of the loans to the allowance for loan losses.

The company reported net income for the three months ended Dec. 31, 2016, of $293,000 or 7 cents per share, compared to $825,000, or 22 cents per share, for the same period a year ago. Net income for the 12 months ended Dec. 31, 2016, was $3.29 million, or 75 cents per share, compared to $3.69 million, or $1.07 per share, for the full year of 2015.