Overview

* Potomac Bancshares ( PTBS ) Q3 net income rises 32% yr/yr, driven by revenue growth and margin expansion

* Company announces stock repurchase plan for up to 100,000 shares or $2.0 mln

* Bank of Charles Town to be renamed Potomac Bank

Outlook

* Company plans to expand business lines and leverage technology for client experiences

* Potomac Bancshares ( PTBS ) did not provide specific financial guidance for future quarters

Result Drivers

* NET INTEREST INCOME - Increased by $430k due to growth in earning assets and higher net interest margin

* NONINTEREST INCOME - Rose by $148k primarily due to higher wealth and investment income, and gains on mortgage loan sales

* ASSET QUALITY - Maintained strong asset quality with NPAs at 0.22% of total assets

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Net 3.54%

Interest

Margin

Q3 $7.35

Provisio mln

n for

Credit

Losses

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)