JMSBMEDIUM SIGNALFINANCIAL10-K

JMSB's credit quality improved dramatically with provision for credit losses dropping substantially while net income and operating cash flow grew meaningfully year-over-year.

The bank's asset quality appears to have strengthened considerably, as evidenced by the sharp reduction in credit loss provisions from $3.1M to just $175K, suggesting either improved loan performance or a more conservative loan portfolio. This credit improvement, combined with solid growth in net income and operating cash flow, indicates the bank is operating in a healthier financial position with better risk management.

Comparing 2026-03-13 vs 2025-03-28View on EDGAR →
FINANCIAL ANALYSIS

JMSB delivered strong financial performance with net income growing 24% to $21.2M and operating cash flow expanding 31% to $22.6M. Most notably, provision for credit losses fell substantially from $3.1M to $175K, indicating significantly improved asset quality and reduced credit risk exposure. The bank also increased dividend payments by 20% to $4.3M, reflecting management's confidence in the improved financial position and cash generation capabilities.

FINANCIAL STATEMENT CHANGES
Provision for Credit Losses
P&L
-94.4%
$3.1M$175K

Provisions reduced 94.4% — improving credit quality or reserve release boosting reported earnings.

Operating Cash Flow
Cash Flow
+30.9%
$17.3M$22.6M

Operating cash flow surged 30.9% — exceptional cash generation, highest quality earnings signal.

Net Income
P&L
+24%
$17.1M$21.2M

Net income grew 24% — bottom-line growth signals improving overall business health.

Dividends Paid
Cash Flow
+20%
$3.6M$4.3M

Dividend payments increased 20% — management confidence in sustained cash generation.

LANGUAGE CHANGES
NEW — 2026-03-13
PRIOR — 2025-03-28
ADDED
The number of outstanding shares of the Registrant's Common Stock as of March 5, 2026 was 14,213,556 .
metropolitan area and the effect of changes in the economic, political and environmental conditions on this market, including shutdowns and potential reductions in spending by the U.S.
Small Business Administration ( SBA ) 7(a) loans, consumer mortgages, online banking, and mobile banking.
As of December 31, 2025, we had total consolidated assets of $2.33 billion, gross loans of $1.97 billion, total deposits of $1.97 billion and total shareholders equity of $265.6 million.
According to data sourced from S P Global Market Intelligence, among the largest MSAs ranked by gross domestic product (New York, Los Angeles, Chicago, San Francisco, Dallas and Washington), the Washington, D.C.
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REMOVED
The number of outstanding shares of the Registrant's Common Stock as of February 28, 2025 was 14,275,442 .
metropolitan area and the effect of changes in the economic, political and environmental conditions on this market, including reduction in spending by the U.S.
As of December 31, 2024, we had total consolidated assets of $2.23 billion, gross loans of $1.87 billion, total deposits of $1.89 billion and total shareholders equity of $246.6 million.
According to data sourced from S P Global Market Intelligence, among the largest MSAs ranked by gross domestic product (Chicago, Dallas, Los Angeles, New York, Houston, and Atlanta), the Washington D.C.
MSA ranked second for 2024 median household income at $118,391, second in 2024 to 2029 projected population growth at 2.7% and first in the percentage of inhabitants 25 or older with a bachelor s degree or higher educational attainment at 54.5%.
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