Form 8-K Village Bank & Trust Financial Corp.

Form 8-K Village Bank & Trust Financial Corp.

Present report, products 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 event that is earliest reported): January 28, 2020

TOWN BANK AND TRUST FINANCIAL CORP.

(precise Name of Registrant as Specified in Charter)

(State or 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)

Check out the box that is appropriate in the event that Form 8-K filing is supposed to simultaneously fulfill the filing responsibility associated with registrant under any of the following conditions:

?Written communications pursuant to Rule 425 underneath the Securities Act (17 CFR 230.425)
?Soliciting material pursuant to Rule 14a-12 underneath the Exchange Act (17 CFR 240.14a-12)
?Pre-commencement communications pursuant to Rule b that is 14d-2( underneath 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) of this Act:

Title of each and every classTrading Symbol(s)Name of each and every trade by which registered
popular Stock, par value $4.00 per shareVBFCNasdaq Capital marketplace

Indicate by check mark whether or not the registrant can be a growth that is emerging as defined in Rule 405 associated with Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of this Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Rising development business ?

If a growth that is emerging, indicate by check mark in the event that registrant has elected not to ever utilize the extensive transition for complying with any brand new or revised economic accounting criteria supplied pursuant to Section 13(a) for the Exchange Act. ?

Item 2.02 outcomes of Operations and Financial Condition.

On January 28, 2020, Village Bank and Trust Financial Corp. Issued a news release reporting its results that are financial the time scale ended December 31, 2019. A duplicate regarding the news release will be furnished being a display to the report and shall never be considered that is“filed any function.

Item 9.01 Financial Statements and Exhibits.

Display No. Definition
99.1Press launch dated 28, 2020 january

Pursuant into the needs associated with the Securities Exchange Act of 1934, as amended, the Registrant has duly triggered this are accountable to be finalized on its behalf by the undersigned hereunto duly authorized.

TOWN BANK AND TRUST FINANCIAL CORP.
(Registrant)
Date: 28, 2020By:/s/ Donald M. Kaloski, Jr.
Donald M. Kaloski, Jr.
Executive Vice President and CFO january

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 4th quarter of 2019. Net gain for the 4th 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. When it comes to year finished December 31, 2019, net gain ended up being $4,477,000 or $3.10 per completely diluted share, in comparison to net gain for the year finished December 31, 2018 of $3,037,000, or $2.04 per completely diluted share. Net gain offered to shareholders that are common which deducts from net gain the dividends on favored stock, ended up being $2,924,000, or $2.04 per completely diluted share, when it comes to year finished December 31, 2018. There was clearly no favored stock outstanding during 2019.

Features when it comes to 4th quarter and complete year 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:

Noninterest https://speedyloan.net/installment-loans-in demand that is bearing balances decreased $16,741,000 from Q3 2019 and increased $11,911,000 from Q4 2018, and represented 29.61% of total build up when compared with 30.99per cent at the time of Q3 2019 and 27.18per cent at the time of Q4 2018. The reduction in noninterest bearing deposits during Q4 2019 had been consequence of company seasonality in several company sectors by which we concentrate. We think that the portion development from Q4 2018 to Q4 2019 is representative of our core development into the balances.
Cash market balances reduced $13,106,000 from Q3 2019 and increased by $13,660,000 from Q4 2018. The decline in money market deposit reports during Q4 2019 ended up being mainly due to the expected withdrawal of this short-term development noted inside our Q3 2019 pr release.
Time deposits reduced by $6,632,000 from Q3 2019 and $18,352,000 from Q4 2018. The decline in time deposits is caused by our concentrate on building inexpensive relationship deposits and working to boost our deposits mix and value of funds. Time deposits represented 30.96% of total deposits when compared with 30.13per cent at the time of Q3 2019 and 35.43per cent at the time of Q4 2018. Wholesale time deposits had been $1,494,000 at 12 months end 2019 in comparison to $8,401,000 at year end 2018.

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