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 EXCHANGE COMMISSION

Washington, D.C. 20549

Pursuant to Section 13 or 15(d) of this Securities Exchange Act of 1934

Date of report (Date of earliest occasion reported): January 28, 2020

TOWN BANK AND TRUST FINANCIAL CORP.

(precise title 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 appropriate package below in the event that Form 8-K filing is supposed to simultaneously fulfill the filing responsibility of this registrant under some 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 beneath the Exchange Act (17 CFR 240.14a-12)
? Pre-commencement communications pursuant to Rule b that is 14d-2( beneath 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) associated with Act:

Title of every class Trading Symbol(s) Name of each and every trade upon which registered
typical Stock, par value $4.00 per share VBFC Nasdaq Capital Market

Indicate by check mark perhaps the registrant can be a growth that is emerging as defined in Rule 405 associated with the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of this Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Growing growth company ?

If a appearing development company, indicate by check mark in the event that registrant has elected not to ever make use of the extensive transition for complying with any brand brand new or revised economic accounting criteria supplied pursuant to Section 13(a) associated with 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 finished December 31, 2019. A duplicate associated with the pr release will be furnished being a display for this report and shall never be considered that is“filed any function.

Item 9.01 Financial Statements and Displays.

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

Pursuant towards the demands of this Securities Exchange Act of 1934, as amended, the Registrant has duly triggered this are accountable to be signed on its behalf because of the undersigned hereunto duly authorized.

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

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, 28, 2020 january. 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 fully diluted share, in comparison to income that is net the 4th quarter of 2018 of $856,000, or $0.60 per fully diluted share. For the year finished December 31, 2019, net gain had been $4,477,000 or $3.10 per fully diluted share, when compared with net gain when it comes to year finished December 31, 2018 of $3,037,000, or $2.04 per completely diluted share. Net gain offered to typical investors, which deducts from net gain the dividends on preferred stock, ended up being $2,924,000, or $2.04 per completely diluted share, when it comes to year finished December 31, 2018. There is no stock that is preferred during 2019.

Features for the quarter that is fourth complete 12 months 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 bearing demand account balances decreased $16,741,000 from Q3 2019 and increased $11,911,000 from Q4 2018, and represented 29.61percent 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 decline in noninterest bearing deposits during Q4 2019 ended up being a total installment loans ia results of company seasonality in many different company sectors by which we concentrate. We genuinely believe that the portion development from Q4 2018 to Q4 2019 is representative of our core development in the balances.
Cash market balances decreased $13,106,000 from Q3 2019 and increased by $13,660,000 from Q4 2018. The reduction in cash market deposit records during Q4 2019 ended up being primarily due to the expected withdrawal of this growth that is temporary within our Q3 2019 news release.
Time deposits reduced by $6,632,000 from Q3 2019 and $18,352,000 from Q4 2018. The decline in time deposits is because our concentrate on building low priced relationship deposits and working to boost our deposits mix and price of funds. Time deposits represented 30.96% of total build up in comparison to 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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