Courtesy-JCBank
SEYMOUR, Ind. – At its recent stockholder meeting, Marvin S. Veatch, President of Bancorp of Southern Indiana (BSI) and President/CEO of Jackson County Bank (JCBank), announced 2024 consolidated net earnings of $6,742,000, which resulted in Return on Average Equity and Return on Average Asset measures of 10.32% and 0.74%, respectively. The current year’s activities resulted in earnings of $4.99 per share.
Veatch reported that total assets for the year increased $29.0 million to $982.3 million as of December 31, 2024, an increase of 3.0% over 2023. Total deposits grew $46.2 million year-over-year, or 6.2%. Total outstanding loan balances grew $57.9 million or 7.8%, ending the year with approximately $807.8 million in outstanding loan balances.
Shareholders re-elected directors Warren L. Forgey, Marshall E. Royalty, and Marvin S. Veatch for additional three-year terms. Also announced at the meeting was the planned upcoming retirement of Susan G. Judd, after serving on the BSI and JCBank Board of Directors for the past 30 years.
Thursday, May 1, marked a milestone for JCBank, commemorating 125 years of serving south-central Indiana communities. JCBank aims to create memorable and engaging experiences throughout the year that resonate with customers and team members while celebrating this significant milestone.
