October 22, 2016 1:05 AM ET


Company Overview of Bank of Georgetown

Company Overview

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 individuals and small and medium size businesses primarily in Washington,...

1115 30th Street, NW

Washington, DC 20007

United States

Founded in 2005



Key Executives for Bank of Georgetown

Co-Founder, Chairman, Chief Executive Officer and President
Age: 59
Chief Financial Officer and Executive Vice President
Age: 67
Chief Technology Officer, Chief Information Officer and Senior Vice President
Managing Director of Business Development and Counsel
Age: 64
Senior Vice President and Director of Human Resources
Compensation as of Fiscal Year 2016.

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%.

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.

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