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September 02, 2015 1:03 PM ET

Banks

Company Overview of Bank of Georgetown

Company Overview

Bank of Georgetown, a community bank, provides various commercial banking products and services. It offers various business banking products and services that include checking and savings accounts; and loans products, including lines of credit, term loans, letters of credit, real estate mortgages, and residential and commercial construction financing products. The company’s business banking products and services also comprise cash management services comprising payments and disbursements, which include zero balance accounts, merchant cards, business debit and credit cards, online banking, and cash manager services; liquidity services for sweep investment account, foreign currency exchange, a...

1115 30th Street NW

Washington, DC 20007

United States

Founded in 2005

Phone:

202-355-1200

Fax:

202-355-1201

Key Executives for Bank of Georgetown

Co-Founder, Chairman, Chief Executive Officer and President
Age: 58
Chief Financial Officer, Chief Operating Officer and Executive Vice President
Age: 66
Chief Technology Officer, Chief Information Officer and Senior Vice President
Vice President and Director of Human Resources
Chief Credit Officer and Executive Vice President
Compensation as of Fiscal Year 2015.

Bank of Georgetown Key Developments

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%.

Bank of Georgetown Reports Earnings Results for the First Quarter Ended March 31, 2015

Bank of Georgetown reported earnings results for the first quarter ended March 31, 2015. The company reported net income of $2.3 million for the three months ended March 31, 2015, a 52% increase over the income for the three months ended March 31, 2014. For the first quarter of 2015, Bank of Georgetown’s return on assets increased to 0.85% and return on equity grew to 7.91%, compared to 0.64% and 5.63%, respectively for the first quarter of 2014.

Bank of Georgetown Announces Executive Promotions

Bank of Georgetown announced three promotions: Lori Childers is promoted to senior vice president, consumer residential lending. She joined the Bank at its founding in 2005 as vice president, consumer residential lending. Michelle 'Mickie' Riley Levenson is promoted to senior vice president, commercial lending. Levenson, who joined Bank of Georgetown in 2010. Josh Phillipsis promoted to senior vice president, commercial lending. Phillips joined the Bank at its founding in 2005 as vice president, commercial lending.

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