benchmark community bank
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Notices
The annual meeting of shareholders of Benchmark Bankshares, Inc. will be held on Thursday, May 15, 2025 at 5 p.m. at Benchmark Community Bank, 204 S. Broad Street, Kenbridge, VA.
View the 2023 Financial Statements.
Benchmark Bankshares' Code of Ethics
Financial Highlights
(Dollars in thousands, except per share amounts)
| FOR THE YEAR: | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|
| Net Income | $15,380 | $13,240 | $11,524 | $10,219 | $9,453 |
|
Total Operating Income |
62,248 | 49,942 | 44,678 | 41,750 | 39,627 |
|
Total Operating Expense |
42,962 | 32,426 | 30,057 | 28,599 | 27,233 |
|
Provision for Loan Losses |
(3) | 1,018 | 330 | 562 | 754 |
|
Taxes |
3,909 | 3,258 | 2,767 | 2,371 | 2,187 |
|
Return on Average Assets |
1.38% | 1.23% | 1.18% | 1.31% | 1.36% |
|
Return on Average Equity |
16.44% | 15.83% | 14.12% | 14.00% | 13.35% |
|
Average Shares Outstanding |
4,511,301 | 4,516,656 | 4,524,843 | 4,475,915 | 4,766,786 |
| AT YEAR END: | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|
| Total Assets | $1,162,325 | $1,124,672 | $1,040,576 | $870,825 | $711,895 |
| Total Deposits | 1,053,629 | 1,029,193 | 945,287 | 783,349 | 632,887 |
| Total Loans | 892,227 | 816,079 | 646,146 | 615,559 | 573,798 |
| Shareholders' Equity, net | 98,692 | 85,654 | 84,437 | 76,821 | 68,711 |
| Equity to Total Assets Ratio | 8.49% | 7.62% | 8.11% | 8.82% | 9.65% |
| PER SHARE: | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|
| Book Value | $21.96 | $18.94 | $18.69 | $16.92 | $15.22 |
| Net Income (basic) | $3.41 | $2.93 | $2.55 | $2.28 | $1.98 |
| Net Income (diluted) | $3.41 | $2.93 | $2.55 | $2.28 | $1.98 |
| Cash Dividends Declared | $0.80 | $0.73 | $0.68 | $0.66 | $0.60 |
Stock Information
The company's stock currently trades under the symbol BMBN on the OTC Pink Marketplace. 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 Beth Beale, EVP/Chief Financial Officer, by calling (434) 676-9054, extension 1038.
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
November 6, 2024: Benchmark Bankshares, Inc. (BMBN), the Kenbridge-based holding company for Benchmark Community Bank, announced unaudited results for the three and nine months ended September 30, 2024. Net income for the third quarter of 2024 was $5.7 million, or $1.27 per share, compared to $3.5 million, or $0.78 per share, posted for the third quarter of 2023. Net income for the first nine months of the year was $12.6 million, or $2.81 per share, compared to $11.9 million, or $2.63 per share, for the first nine months of 2023. (read full release)
August 26, 2024: Benchmark Bankshares, Inc. (BMBN), the Kenbridge-based holding company for Benchmark Community Bank, announced unaudited results for the three and six months ended June 30, 2024. Net income for the second quarter of 2024 was $3.7 million, or $0.82 per share, compared to $3.9 million, or $0.86 per share, posted for the second quarter of 2023. Net income for the first six months of the year was $6.9 million, or $1.54 per share, compared to $8.4 million, or $1.86 per share, for the first six months of 2023. (read full release)
June 21, 2024: Benchmark Bankshares, Inc. (BMBN), the Kenbridge-based holding company for Benchmark Community Bank, recently announced the declaration of a semi-annual dividend of $0.42 per share to holders of common stock of the company. This dividend represents a 5.0% increase over the prior quarter’s dividend amount of $0.40 per share. (read full release)
May 15, 2024: Benchmark Bankshares, Inc. (BMBN), the Kenbridge-based holding company for Benchmark Community Bank, announced unaudited results for the quarter ending March 31, 2024. Net income for the first quarter of 2024 was $3.2 million, or $0.72 per share, compared to $4.5 million, or $1.00 per share, posted for the first quarter of 2023. (read full release)
February 6, 2024: Benchmark Bankshares, Inc. (BMBN), the Kenbridge-based holding company for Benchmark Community Bank, announced unaudited results for the quarter and year ending December 31, 2023. Net income for the fourth quarter of 2023 was $3.5 million, or $0.78 per share, compared to $3.9 million, or $0.87 per share, posted for the fourth quarter of 2022. Net income for the year was to $15.4 million, or $3.41 per share, a 16.2% increase over net income of $13.2 million, or $2.93 per share, earned in 2022. (read full release)
December 28, 2023: Benchmark Bankshares, Inc. (BMBN), the Kenbridge-based holding company for Benchmark Community Bank, recently announced the declaration of a semi-annual dividend of $0.40 per share to holders of common stock of the company. The $0.80 dividend for 2023 represents a 9.59% increase over the $0.73 per share dividend declared during 2022. (read full release)
October 31, 2023: Benchmark Bankshares, Inc. (BMBN), the Kenbridge-based holding company for Benchmark Community Bank, announced unaudited earnings of $3.5 million for the third quarter of 2023, down from $4.1 million earned during the third quarter of 2022. Earnings per share for the quarter decreased from $0.91 to $0.77. Net income through the first nine months of the year amounted to $11.9 million, a 27.81% increase from the $9.3 million earned through the first nine months of 2022, while earnings per share increased from $2.06 to $2.63. (read full release)
July 26, 2023: Benchmark Bankshares, Inc. (BMBN), the Kenbridge-based holding company for Benchmark Community Bank, announced unaudited results for the three- and six-month periods ending June 30, 2023. Net income for the second quarter amounted to $3,860,138, a 21.86% increase from the $3,167,623 posted for the second quarter of 2022, while earnings per share increased from $0.70 to $0.85 for the quarter. Net income for the first six months of the year amounted to $8,390,870, a 61.50% increase from the $5,195,532 earned last year, while earnings per share increased from $1.15 to $1.86 for the period. (read full release)
May 2, 2023: Benchmark Bankshares, Inc. (BMBN), the Kenbridge-based holding company for Benchmark Community Bank, announced unaudited results for the first quarter of 2023. Net income of $4,530,732 was up from the $2,027,908 earned during the first quarter of 2022, while earnings per share increased from $0.45 to $1.00 for the period. (read full release)
January 31, 2023: Benchmark Bankshares, Inc. (BMBN), the Kenbridge-based holding company for Benchmark Community Bank, announced unaudited results for the quarter and year ending December 31, 2022. Net income for the fourth quarter of 2022 amounted to $3,938,784 or $0.87 per share, compared to $2,684,505, or $0.59 per share, posted for the fourth quarter of 2021. Net income for the year amounted to $13,239,600, or $2.93 per share, a 15.08% increase over net income of $11,524,043, or $2.55 per share, earned in 2021. (read full release)
December 16, 2022: Benchmark Bankshares, Inc. (BMBN), the Kenbridge-based holding company for Benchmark Community Bank, recently announced the declaration of a semi-annual dividend of $0.38 per share to holders of common stock of the company. This represents an 8.57% increase over the $0.35 per share dividend declared in June. The $0.73 dividend for 2022 represents a 7.35% increase over the $0.68 per share dividend declared during 2021. (read full release)
October 28, 2022: Benchmark Bankshares, Inc. (BMBN), the Kenbridge-based holding company for Benchmark Community Bank, announced unaudited earnings of $4,105,285 for the third quarter of 2022, representing a 22.80% increase over the $3,343,121 earned during the third quarter of 2021. Earnings per share increased from $0.74 to $0.91, an increase of 23.10% for the quarter. Net income through the first nine months of the year amounted to $9,300,817, a 5.22% increase from the $8,839,538 earned through the first nine months of 2021, while earnings per share increased by 5.45%, climbing from $1.95 to $2.06. (read full release)
