Boeing Wins $2.04B U.S. Air Force Contract for B-52 Engine Replacement Program 
Nvidia to Acquire Groq in $20 Billion Deal to Boost AI Chip Dominance 
California Regulator Probes Waymo Robotaxi Stalls During San Francisco Power Outage 
Sanofi to Acquire Dynavax in $2.2 Billion Deal to Strengthen Vaccine Portfolio 
Brazilian Oil Workers’ Strike Continues as Key Petrobras Union Rejects Proposal 
Waymo Plans Safety and Emergency Response Upgrades After San Francisco Robotaxi Disruptions 
TSMC Honors Japanese Chip Equipment Makers With 2025 Supplier Awards 
BP Nears $10 Billion Castrol Stake Sale to Stonepeak 
John Carreyrou Sues Major AI Firms Over Alleged Copyrighted Book Use in AI Training 
Winter Storm Disrupts Northeast Travel as Snow and Ice Blanket New York, New Jersey 
California DMV Proposes New Safety Rules for Autonomous Vehicles After Waymo Incidents 
FDA Approves Mitapivat for Anemia in Thalassemia Patients 
Eli Lilly and Novo Nordisk Battle for India’s Fast-Growing Obesity Drug Market 
Texas App Store Age Verification Law Blocked by Federal Judge in First Amendment Ruling 
South Korean Court Clears Korea Zinc’s $7.4 Billion U.S. Smelter Project, Shares Surge 
Nvidia and Groq Strike Strategic AI Inference Licensing Deal 
JEFFERSONVILLE, N.Y., Feb. 15, 2017 -- Jeffersonville Bancorp, Inc. (OTCQB:JFBC) announced today fourth quarter net income of $1,026,000 or $0.24 per share compared to $1,171,000 or $0.28 per share for the same quarter in 2015. The decrease in quarterly net income was primarily due to an increase in occupancy expense of $167,000 and an increase in other non-interest expense of $52,000 partially offset by an increase in net interest income of $65,000.
For the year ended December 31, 2016, the Company earned net income of $5,118,000 or $1.21 per share compared to $4,708,000 or $1.11 per share for the same period in 2015. The increase in net income was primarily due to a one-time life insurance benefit of $248,000, an increase in net interest income of $104,000, a decrease in salary expense of $359,000 and a decrease in foreclosed real estate expense of $132,000, partially offset by a decrease in service charge income of $93,000 and an increase in income taxes of $96,000.
A cash dividend in the amount of fourteen cents ($0.14) per share on the common stock of the company was declared at the February 14, 2017 meeting of the Board of Directors. The dividend is payable on March 1, 2017 to stockholders of record at the close of business on February 27, 2017.
Jeffersonville Bancorp is a one-bank holding company, which owns all the capital stock of Jeff Bank. Jeff Bank maintains thirteen full service branches in Sullivan County, New York located in Anawana Lake Road/Monticello, Bloomingburg, Eldred, Callicoon, Jeffersonville, Liberty, Livingston Manor, Loch Sheldrake, Forestburgh Road/Monticello, Narrowsburg, Port Jervis, White Lake and Wurtsboro.
For More Information, call: 845-482-4000 Contact: George W. Kinne, Jr., President – CEO
