Village Bank and Trust Financial Corp. Reports Q1 2023 Net Income of $1.54 Million

Village Bank and Trust Financial Corp.(VBFC) and its Subsidiary have released their fina ncial statements for the first quarter of 2023, revealing a net income of $1.54 million and revenue amounting to $7.58 million. The consolidated balance sheets as of March 31, 2023, and December 31, 2022, indicate a growth in assets, while the consolidated statements of income for the three months ended March 31, 2023, compared to the same period in 2022, show notable changes in interest income and noninterest income.

Let's delve into the financial data and explore the key aspects of Village Bank and Trust Financial Corp.'s performance for the first quarter of 2023.

Net Income of $1.54 Million

The financial statements for the first quarter of 2023 reveal that Village Bank and Trust Financial Corp. achieved a net income of $1.54 million. This represents a decrease from the previous year's first-quarter net income of $1.80 million. The company's net interest income amounted to $6.37 million, showing a positive performance in generating interest revenue from loans and investments.