詹姆斯金融银行 2026年季度报告

Form 10-Q______________________ (Mark one)☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACTOF 1934 For the Quarterly Period Ended March 31, 2026 ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACTOF 1934 For the transition period from BANK OF THE JAMES FINANCIAL GROUP, INC.(Exact Name of Registrant as Specified in Its Charter)______________________ Virginia(State or other jurisdiction ofincorporation or organization) 001-35402(Commission file number) 20-0500300(I.R.S. EmployerIdentification No.) 828 Main Street, Lynchburg, VA(Address of principal executive offices) 24504(Zip Code) (434) 846-2000(Registrant’s telephone number, including area code) Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of theSecurities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant wasrequired to file such reports), and (2) has been subject to such filing requirements for the past 90 days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to besubmitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for suchshorter period that the registrant was required to submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer,smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “acceleratedfiler,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Large accelerated filerNon-accelerated filerEmerging growth company Accelerated filerSmaller reporting company Table of Contents If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transitionperiod for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of theExchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined by Rule 12b-2 of the Exchange Act).Yes☐No☒ State the number of shares outstanding of each of the issuer’s classes of common equity, as of the latest practicable date:4,543,338 shares of Common Stock, par value $2.14 per share, were outstanding at May 12, 2026. TABLE OF CONTENTS PART I – FINANCIAL INFORMATIONItem 1.Consolidated Financial Statements1Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations37Item 3.Quantitative and Qualitative Disclosures About Market Risk54Item 4.Controls and Procedures54PART II – OTHER INFORMATIONItem 1.Legal Proceedings54Item 1A.Risk Factors54Item 2.Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities54Item 3.Defaults Upon Senior Securities54Item 4.Mine Safety Disclosures54Item 5.Other Information55Item 6.Exhibits55SIGNATURES56 Table of Contents Item 1.Consolidated Financial Statements Bank of the James Financial Group, Inc. and SubsidiariesConsolidated Balance Sheets(dollar amounts in thousands, except share and per share amounts) (2026 unaudited) For the Three Months EndedMarch 31,Interest income20262025Loans$9,427$8,906SecuritiesUS Government and agency obligations633454Mortgage backed securities450387Municipals - taxable398311Municipals - tax exempt6318Dividends1113Corporates145135Interest bearing deposits98123Federal Funds sold624887Total interest income11,84911,234 Table of Contents Supplies160142Professional and other outside expense7701,715Data processing475820Marketing189198Credit expense190186FDIC insurance expense136142Amortization of intangibles140140Other450466Total noninterest expenses9,3659,826Income before income taxes3,4791,039Income tax expense705197Net income$2,774$842Weighted average shares outstanding - basic and diluted4,543,3384,543,338Earnings per common share - basic and diluted$0.61$0.19 See accompanying notes to these consolidated financial statements Table of Contents Bank of the James Financial Group, Inc. and SubsidiariesConsolidated Statements of Comprehensive Income(dollar amounts in thousands) (unaudited) For the Three MonthsEnded March 31,20262025Net income$2,774$842Other comprehensive (loss) income:Unrealized (loss) gain on securities available-for-sale(1,371)3,918Tax effect288(822)Other comprehensive (loss) income, net of tax(1,083)3,096Comprehensive income$1,691$3,938 See accompanying notes to these consolidated financial statements Table of Contents See accompanying notes to these consolidated financial statements Bank of the James Financial Group, Inc. and SubsidiariesConsolidated Statements of Changes in Stockholders’ EquityFor the Three Months Ended March 31, 2026 and 2025(dollar amounts in thousands, except share amounts) (unaudited) Table of Contents Notes to Consolidated Fi