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2nd Quarter 2010
1st Quarter 2010
Notices
The next annual shareholders' meeting is scheduled for May 17, 2012.
View the latest outside auditor's "Report on Audit of Financial Statements."
Benchmark Bankshares' Code of Ethics.
Financial Highlights
| FOR THE YEAR: | 2010 |
2009 |
2008 |
2007 |
2006 |
|---|---|---|---|---|---|
| Net Income | $4,541,198 |
$3,903,769 |
$3,921,984 |
$3,943,582 |
$3,808,718 |
|
Total Operating Income |
26,487,577 |
25,783,328 |
25,545,125 |
24,260,984 |
21,947,487 |
|
Total Operating Expense |
17,875,651 |
19,373,896 |
19,489,677 |
18,487,337 |
16,186,944 |
|
Provision for Loan Losses |
2,346,684 |
993,480 |
440,665 |
125,624 |
216,193 |
|
Taxes |
1,724,044 |
1,512,183 |
1,692,799 |
1,704,441 |
1,735,632 |
|
Return on Average Assets |
1.11% |
1.02% |
1.08% |
1.21% |
1.25% |
|
Return on Average Equity |
12.05% |
11.14% |
11.82% |
12.60% |
13.00% |
|
Average Shares Outstanding |
2,598,125 |
2,614,598 |
2,646,035 |
2,705,363 |
2,733,949 |
| AT YEAR END: | 2010 | 2009 | 2008 | 2007 | 2006 |
|---|---|---|---|---|---|
| Total Assets | $417,958,420 |
$383,879,024 |
$373,562,410 |
$342,904,111 |
$313,390,904 |
| Total Deposits | 376,415,866 |
343,020,762 |
336,585,203 |
302,371,266 |
280,663,855 |
| Total Loans | 326,332,481 |
321,994,828 |
312,660,685 |
289,934,209 |
257,293,932 |
| Shareholders' Equity | 37,990,753 |
35,749,112 |
33,686,432 |
32,177,804 |
30,270,885 |
| Equity to Assets Ratio | 9.09% |
9.31% |
9.02% |
9.38% |
9.66% |
| PER SHARE: | 2010 | 2009 | 2008 | 2007 | 2006 |
|---|---|---|---|---|---|
| Book Value | $14.66 |
$13.74 |
$12.80 |
$11.99 |
$11.11 |
| Net Income (basic) | $1.75 |
$ 1.49 |
$ 1.48 |
$ 1.46 |
$ 1.39 |
| Net income (diluted) | $1.75 |
$ 1.49 |
$ 1.48 |
$ 1.45 |
$ 1.38 |
| Cash Dividends Declared | $0.56 |
$ 0.56 |
$ 0.56 |
$ 0.53 |
$ 0.48 |
Stock Information
The company's stock currently trades under the symbol, BMBN.OB, on the NASDAQ Over-the-Counter Bulletin Board. Any stockbroker can assist you with buying additional shares. The bank, as part of a previously approved stock repurchase plan, is authorized to repurchase shares of its common stock. Should you wish to facilitate the sale of any of your shares directly to the bank, please contact Neil Burke, Chief Financial Officer, by calling (434) 676-9054, extension 1111.
How to Purchase Shares of Benchmark Stock
To purchase shares of Benchmark Bankshares, the holding company for Benchmark Community Bank, you must contact a stock brokerage firm. The bank does not have any stock for sale directly.
Financial Release Summaries
December 20, 2011: Benchmark Bankshares, Inc. (BMBN.OB), the Kenbridge-based holding company for Benchmark Community Bank, recently announced the declaration of a semi-annual dividend of $0.30 per share to holders of common stock of the company. The record date for shareholders entitled to payment of the dividend will be the close of business, 4:00 P.M., on January 9, 2012, with payment to occur by January 31, 2012. (read full release)
October 13, 2011: Benchmark Bankshares, Inc. (BMBN.OB), the Kenbridge-based holding company for Benchmark Community Bank, announced earnings of $1,478,232, or $0.51 per share, for the third quarter of 2011, up from the $1,268,220, or $0.38 per share, posted during the same period last year. Net income through the first nine months of the year amounted to $3,928,337, or $1.52 per share, an increase over the $3,226,728, or $1.24 per share, earned during the first nine months of 2010. Return on average equity was 13.01% and return on average assets was 1.27% year-to-date, compared to 11.54% and 1.07%, respectively, reported for the first nine months last year. (read full release)
July 26, 2011: Benchmark Bankshares, Inc. (BMBN.OB), the Kenbridge-based holding company for Benchmark Community Bank, announced earnings of $1,314,666, or $0.51 per share, for the second quarter of 2011, a $306,114, or 30.4%, increase from the $1,008,552, or $0.38 per share, posted during the same period last year. Net income through the first six months of the year amounted to $2,450,104, or $0.95 per share, representing a 25.1% increase over the $1,958,509, or $0.75 per share, posted through the first six months of 2010. (read full release)
June 17, 2011: Benchmark Bankshares, Inc. (BMBN.OB), the Kenbridge-based holding company for Benchmark Community Bank, recently announced the declaration of a semi-annual dividend of $0.28 per share to holders of common stock of the company. The record date for shareholders entitled to payment of the dividend will be the close of business, 4:00 P.M., on July 11, 2011, with payment to occur by July 31, 2011. (read full release)
April 15, 2011: Benchmark Bankshares, Inc. (BMBN.OB), the Kenbridge-based holding company for Benchmark Community Bank, announced earnings of $1,135,438, or $0.44 per share, for the first quarter of 2011. Earnings for the quarter were $185,482, or 19.5%, higher than the $949,956, or $0.37 per share, posted during the same period last year. Return on average equity for the quarter was 11.87% and return on average assets was 1.11%, compared to 10.56% and 0.99%, respectively, reported for the first quarter of 2010. (read full release)
January 27, 2011: Benchmark Bankshares, Inc. (BMBN.OB), the Kenbridge-based holding company for Benchmark Community Bank, announced earnings of $4,541,198, or $1.75 per share for 2010. This compares to $3,903,769, or $1.49 per share, earned during 2009. Return on average equity for the year was 12.05% and return on average assets was 1.11%, compared to 11.14% and 1.02%, respectively, reported in 2009. The bank earned $1,314,470 during the fourth quarter of 2010, up from the $961,192 earned last year during the same period. (read full release)
October 29, 2010: Benchmark Bankshares Inc., parent company of its wholly owned subsidiary Benchmark Community Bank, reported consolidated net income of $1,268,220, or $0.49 per share, for the third quarter of 2010 and $3,226,728, or $1.24 per share, for the first nine months of the year. This compares to net income of $1,092,548, or $0.42 per share, earned during the third quarter of 2009 and $2,942,576, or $1.12 per share, earned through the first nine months of last year. Return on average assets amounted to 1.07% and return on average equity amounted to 11.54% year-todate, compared to 1.04% and 11.35%, respectively, posted one year ago. (read full release)
July 16, 2010: Benchmark Bankshares Inc., parent company of its wholly owned subsidiary Benchmark Community Bank, reported consolidated net income of $1,008,552, or $0.38 per share, for the second quarter of 2010 and $1,958,509, or $0.75 per share, for the first six months of the year. This compares to net income of $921,463, or $0.35 per share, earned during the second quarter of 2009 and $1,850,028, or $0.71 per share, earned through the first six months of last year. Return on average assets amounted to 1.00% and return on average equity amounted to 10.79% through the first six months of the year, compared to 0.98% and 10.20%, respectively, posted one year ago. (read full release)
April 22, 2010: Benchmark Bankshares, Inc. (BMBN.OB), the Kenbridge-based holding company for Benchmark Community Bank, announced earnings of $949,956, or $0.37 per share for the first quarter of 2010. This compares to $928,565, or $0.35 per share earned during the first quarter of 2009. Return on average equity for the quarter was 10.56% and return on average assets was 0.99%, compared to 11.00% and 1.01%, respectively, reported for the first quarter of 2009. (read full release)
February 9, 2010: Benchmark Bankshares, Inc. (BMBN.OB), the Kenbridge-based holding company for Benchmark Community Bank, announced earnings of $3,903,768, or $1.49 per share. This compares to $3,921,984, or $1.48 per share earned during 2008. Return on average equity for 2009 was 11.14% and return on average assets was 1.02%, compared to 11.82% and 1.08%, respectively, reported in 2008. Earnings for the fourth quarter of 2009 amounted to $961,192, or $0.37 per share, compared to $918,841, or $0.35 per share, posted one year ago. (read full release)
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Quarterly Reports
3rd Quarter 2011
2nd Quarter 2011
1st Quarter 2011
2nd Quarter 2010
1st Quarter 2010
3rd Quarter 2009
2nd Quarter 2009
1st Quarter 2009
3rd Quarter 2008
2nd Quarter 2008
1st Quarter 2008
