July 20, 2017 3:05 PM ET

Banks

Company Overview of Bank of Georgetown

Company Overview

As of June 3, 2016, Bank of Georgetown was acquired by United Bank. Bank of Georgetown, a community bank, provides personal and business banking products and services. It offers checking accounts, savings accounts, money market accounts, certificates of deposit, IRA accounts, cash management products, and debit and credit cards. The company also provides loan products, such as consumer loans, lines of credit, term loans, letters of credit, real estate mortgages, and residential and commercial construction financing. In addition, it offers remote deposit capture, night depository service, courier services, safe deposit boxes, and telephone and online banking services. The company serves indiv...

1115 30th Street, NW

Washington, DC 20007

United States

Founded in 2005

Phone:

202-355-1200

Key Executives for Bank of Georgetown

Bank of Georgetown does not have any Key Executives recorded.

Bank of Georgetown Key Developments

Bank of Georgetown Announces Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015

Bank of Georgetown announced unaudited earnings results for the third quarter and nine months ended September 30, 2015. For the quarter, the company reported net income of $2.741 million a 35% year-over-year increase. Return on assets (ROA) increased to 0.92% and return on equity (ROE) grew to 8.92%. For the first nine months, the bank reported unaudited net income of $7.493 million, a 42% increase over the same period in 2014. On a year-to-date basis ROA and ROE measured 0.88% and 8.37%, respectively.

Bank of Georgetown Announces Earnings Results for the Second Quarter and Six Months Ended June 30, 2015

Bank of Georgetown announced earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported net income of $2.47 million, a 42% year-over-year increase. Net interest income was favorably impacted by growth in average assets, an increase in loans as a percentage of earning assets and the Bank’s ability to improve the cost of funds. For the six months, net income increased 46% over the same period in 2014. Revenues were $2.823 million or 16.7% greater than revenues for the first six months of 2014, while overhead only increased $250,000 or 2.2%.

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