B
BANK OF THE JAMES FINANCIAL GROUP INC
BOTJCIK 0001275101NasdaqNon-AcceleratedSmaller ReportingState Commercial BanksVirginiaFY ends Dec 31
Period
FY 2025
Revenue
—
Net Income
$9.02M
Total Assets
$1.04B
Equity
$80.05M
Shares Out
4.54M
Op. Cash Flow
$11.66M
Business
BANK OF THE JAMES FINANCIAL GROUP INC is a bank holding company that provides retail and commercial banking and related financial services through its subsidiaries and divisions. It offers deposit and payment services, a full range of consumer and commercial lending, mortgage origination and brokerage, investment advisory and wealth management, securities brokerage, insurance products, and treasury and cash management services. The company operates through primary segments including Bank of the James (with Mortgage, Investment and Insurance divisions) and Pettyjohn, Wood & White (investment advisory). It serves customers primarily in Region 2000 in Virginia and has expanded into Charlottesville, Roanoke, Harrisonburg and other nearby Virginia markets through full‑service and limited branches, mortgage offices, online banking and shared ATM networks.
Summary from filing dated 2025-03-26
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Loans | 37 | 35 | 31 | 26 | 27 | |
| US Government and agency obligations | 2 | 1 | — | — | — | |
| Mortgage backed securities | 2 | 2 | 2 | 2 | 462,000 | |
| Municipals - taxable | 1 | 1 | 1 | 1 | 813,000 | |
| Municipals - tax exempt | 135,000 | 73,000 | 73,000 | 73,000 | 52,000 | |
| Dividends | 98,000 | 95,000 | 82,000 | 66,000 | 67,000 | |
| Corporates | 530,000 | 543,000 | — | — | — | |
| Interest bearing deposits | 559,000 | 775,000 | 496,000 | 282,000 | 33,000 | |
| Federal Funds sold | 3 | 4 | 2 | 721,000 | 107,000 | |
| Total interest income | 47 | 45 | 39 | 32 | 29 | |
| NOW, money market and savings | 5 | 5 | 3 | 555,000 | 564,000 | |
| Time deposits | 8 | 9 | 6 | 732,000 | 1 | |
| Finance leases | 65,000 | 76,000 | 86,000 | — | — | |
| Other borrowings | 389,000 | 376,000 | 398,000 | 440,000 | — | |
| Capital notes | 163,000 | 327,000 | 327,000 | 327,000 | 327,000 | |
| Total interest expense | 14 | 15 | 10 | — | — | |
| Net interest income | 33 | 29 | 30 | 30 | 27 | |
| Recovery of credit losses | −35,000 | −655,000 | −179,000 | −900,000 | −500,000 | |
| Net interest income after recovery of credit losses | 33 | 30 | 30 | 31 | 28 | |
| Gains on sales of loans held for sale | 5 | 4 | 4 | 5 | 8 | |
| Service charges, fees and commissions | 4 | 4 | 4 | 4 | 2 | |
| Wealth management fees | 5 | 5 | 4 | 4 | — | |
| Life insurance income | 769,000 | 721,000 | 548,000 | 452,000 | 430,000 | |
| Income from SBIC fund | 506,000 | 934,000 | 135,000 | — | — | |
| Other | 77,000 | 80,000 | 148,000 | 16,000 | 18,000 | |
| Gain on sales of securities, net | 27,000 | 62,000 | — | — | — | |
| Total noninterest income | 16 | 15 | 13 | 13 | 11 | |
| Salaries and employee benefits | 21 | 19 | 18 | 18 | 16 | |
| Occupancy | 2 | 2 | 2 | 2 | 2 | |
| Equipment | 3 | 2 | 2 | 3 | 3 | |
| Supplies | 631,000 | 542,000 | 530,000 | 521,000 | 471,000 | |
| Professional and other outside expense | 4 | 3 | 3 | 3 | 2 | |
| Data processing | 2 | 3 | 3 | 2 | 2 | |
| Marketing | 867,000 | 768,000 | 919,000 | 920,000 | 934,000 | |
| Credit expense | 904,000 | 816,000 | 805,000 | 923,000 | 1 | |
| FDIC insurance expense | 518,000 | 441,000 | 419,000 | 500,000 | 548,000 | |
| Amortization of intangibles | 561,000 | 560,000 | 560,000 | 560,000 | — | |
| Other | 2 | 2 | 1 | 2 | 2 | |
| Total noninterest expenses | 38 | 35 | 33 | 33 | 29 | |
| Income before income taxes | 11 | 10 | 10 | 11 | 9 | |
| Income tax expense | 2 | 2 | 2 | 2 | 2 | |
| Net Income | 9 | 8 | 9 | 9 | 8 | |
| Weighted average shares outstanding - basic | 5 | 5 | 5 | 5 | 5 | |
| Weighted average shares outstanding - diluted | 5 | 5 | 5 | 5 | 5 | |
| Earnings per common share basic | 1.99 | 1.75 | 1.91 | 1.91 | 1.6 | |
| Earnings per common share - diluted | 1.99 | 1.75 | 1.91 | 1.91 | 1.6 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and due from banks | 29 | 23 | 26 | 30 | 29 | |
| Federal funds sold | 56 | 50 | 49 | 32 | 154 | |
| Total cash and cash equivalents | 84 | 73 | 75 | 62 | 183 | |
| Securities held-to-maturity, at amortized cost (fair value of $3,315 and $3,170 as of December 31, 2025 and 2024, respectively) | 4 | 4 | 4 | 4 | 4 | |
| Securities available-for-sale, at fair value | 214 | 188 | 217 | 186 | — | |
| Restricted stock, at cost | 2 | 2 | 2 | 1 | 1 | |
| Loans, net of allowance for credit losses of $6,450 as of December 31, 2025 and $7,044 as of December 31, 2024 | 661 | 637 | 602 | 605 | — | |
| Loans held for sale | 3 | 4 | 1 | 2 | 2 | |
| Premises and equipment, net | 19 | 19 | 18 | 18 | 18 | |
| Interest receivable | 3 | 3 | 3 | 3 | 2 | |
| Cash value - bank owned life insurance | 24 | 23 | 22 | 19 | 19 | |
| Customer relationship intangible | 6 | 7 | 7 | 8 | 8 | |
| Goodwill | 2 | 2 | 2 | 2 | 3 | |
| Other assets | 16 | 18 | 18 | 18 | 9 | |
| Total assets | 1,039 | 979 | 969 | 929 | 988 | |
| Noninterest bearing demand | 131 | 130 | 134 | 155 | 162 | |
| NOW, money market and savings | 570 | 522 | 538 | 560 | 582 | |
| Time | 235 | 231 | 206 | 133 | 143 | |
| Total deposits | 937 | 882 | 879 | 848 | 887 | |
| Capital notes, net | — | 10 | 10 | 10 | 10 | |
| Other borrowings | 9 | 9 | 10 | 10 | 11 | |
| Interest payable | 1 | 722,000 | 480,000 | 89,000 | 46,000 | |
| Other liabilities | 12 | 12 | 10 | 10 | 10 | |
| Total liabilities | 959 | 914 | 909 | 878 | 918 | |
| Common stock $2.14 par value; authorized 10,000,000 shares; issued and outstanding 4,543,338 as of December 31, 2025 and December 31, 2024 | 10 | 10 | 10 | 10 | 10 | |
| Additional paid-in-capital | 35 | 35 | 35 | 36 | 37 | |
| Retained earnings | 50 | 43 | 37 | 31 | 23 | |
| Accumulated other comprehensive loss | −15 | −23 | −22 | −27 | −1 | |
| Total stockholders equity | 80 | 65 | 60 | 50 | 69 | |
| Total liabilities and stockholders equity | 1,039 | 979 | 969 | 929 | 988 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Depreciation and amortization | 1 | 1 | 1 | 2 | 2 | |
| Net amortization and accretion of premiums and discounts on securities | 211,000 | 571,000 | 1 | 508,000 | 516,000 | |
| Amortization of debt issuance costs | 2,000 | 6,000 | 10,000 | 10,000 | 4,000 | |
| Gain on sales of available-for-sale securities, net | −27,000 | −62,000 | — | 3,000 | — | |
| Gain on sale of equipment | −28,000 | — | — | −18,000 | — | |
| Proceeds from sales of loans held for sale | 177 | 193 | 170 | 218 | 345 | |
| Origination of loans held for sale | −172 | −191 | −165 | −213 | −331 | |
| Deferred income taxes | −156,000 | 28,000 | — | — | — | |
| Increase in accrued interest receivable | −315,000 | −230,000 | −99,000 | −672,000 | 286,000 | |
| Decrease in other assets | 979,000 | 50,000 | −4 | −62,000 | 295,000 | |
| Increase in interest payable | 445,000 | 242,000 | 391,000 | 43,000 | −39,000 | |
| Increase in other liabilities | 298,000 | 2 | 483,000 | −106,000 | 788,000 | |
| Net cash provided by operating activities | 12 | 9 | 9 | 9 | 16 | |
| Purchases of securities available-for-sale | −44 | −21 | −35 | −77 | −84 | |
| Proceeds from maturities, calls and paydowns of securities available-for-sale | 24 | 16 | 12 | 12 | 8 | |
| Proceeds from sales of securities available-for-sale | 4 | 31 | — | 8 | — | |
| Purchases of bank owned life insurance | — | −600,000 | −2 | — | −2 | |
| Purchases of restricted securities | −7,000 | −280,000 | — | — | — | |
| Origination of loans, net of principal collected | −25 | −34 | — | −28 | — | |
| Purchases of premises and equipment | −1 | −3 | −2 | −1 | −3 | |
| Proceeds from sales of equipment | 46,000 | — | — | 30,000 | — | |
| Purchase of SBIC investments | −350,000 | −100,000 | — | −927,000 | −564,000 | |
| Net cash used in investing activities | −42 | −11 | −23 | −88 | −65 | |
| Net increase in deposits | 55 | 4 | 30 | −39 | 122 | |
| Principal payments on finance lease obligations | −451,000 | −402,000 | −367,000 | −357,000 | −414,000 | |
| Repayment of capital notes | −10 | — | — | — | — | |
| Repayment of other borrowings | −504,000 | −590,000 | — | — | — | |
| Dividends paid to common stockholders | −2 | −2 | −1 | −1 | −1 | |
| Net cash provided by financing activities | 42 | 1 | 27 | −43 | 131 | |
| Increase (decrease) in cash and cash equivalents | 11 | −2 | 13 | −121 | 82 | |
| Unrealized gains on securities available-for-sale | 10 | −2 | — | — | — | |
| Lease liabilities arising from right-of-use assets | — | 212,000 | — | — | — | |
| Cash paid for interest | 13 | 15 | 9 | 2 | 2 | |
| Cash paid for income taxes | 2 | 2 | 2 | 2 | 3 |
Filings
Filing historySign up free to browse every 10-K, 10-Q, 8-K, and proxy this filer has submitted to the SEC.Sign up free · Upgrade to Pro
Material Events
Material EventsTrack every 8-K filing and material event — AI-summarized, timelined, and alertable.Sign up free · Upgrade to Pro
Insiders
Insider ActivitySee executive buy/sell windows and insider trade activity over rolling 30/90/365-day windows.Sign up free · Upgrade to Pro
Institutional Holders
Institutional HoldersSee which funds hold this stock and track position changes quarter over quarter.Sign up free · Upgrade to Pro