LIMERICK, Pa., Sept. 17, 2020 /PRNewswire/ -- Victory Bancorp Inc. (VTYB), based in Limerick, PA, focused on business banking, today announced that Joseph Major, CEO & Chairman will present live at VirtualInvestorConferences.com on September 24th.
DATE: Thursday, September 24th
TIME: 12:00 p.m. – 12:30 p.m. ET
This will be a live, interactive online event where investors are invited to ask the company questions in real-time. If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available after the event.
It is recommended that investors pre-register and run the online system check to expedite participation and receive event updates.
Learn more about the event at www.VirtualInvestorConferences.com.
Recent Company Highlights Include:
Deposits grew to $306.3 million at June 30, 2020, from $228.9 million at June 30, 2019, a 33.8% increase. Including SBA PPP loans, total Net Loans increased 28.2% to $299.3 million at June 30, 2020, from $233.5 million at June 30, 2019, and total assets increased by $155.9 million to $414.5 million as of June 30, 2020, an increase of 60.3% over one year.
Joseph W. Major, Chairman, and CEO stated, "We are pleased with the core performance of the bank, as measured against past years' performance and our three-year operating plan. Our focus has been protecting the safety of our employees and clients while expanding our services to businesses and individuals in their crucial time of need while building loan loss reserves in anticipation of possible increased credit losses. The Victory Bank team members have worked tirelessly to close over $60 million of Small Business Administration Paycheck Protection loans (PPP), processing approximately 575 loan applications, helping businesses in our communities protect 7,277 local jobs.
Also, in late June 2020, Victory Bancorp completed the issuance of $10 million of 10-year, fixed to floating subordinated debt, to be used to bolster the bank's capital ratios and allow for continued growth and stability. The coupon on this issuance is fixed at 6.25% for the first five years. In addition, we achieved a Five-Star rating from Bauer Financial, Inc., and were named The Best Bank in Montgomery County for the fourth year in a row."
The Victory Bancorp, Inc. is traded on the OTCQX market under the symbol VTYB (https://www.otcmarkets.com) and is the parent company of The Victory Bank, a Pennsylvania state-chartered commercial bank, headquartered in Limerick, Pennsylvania. The Victory Bank was established in 2008. Victory provides high-quality banking services to small and mid-sized businesses and professionals through its two offices located in Montgomery and Berks Counties, Pennsylvania.
About Virtual Investor Conferences®
Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly-traded companies to meet and present directly with investors.
A real-time solution for investor engagement, Virtual Investor Conferences is part of OTC Market Group's suite of investor relations services specifically designed for more efficient Investor Access. Replicating the look and feel of on-site investor conferences, Virtual Investor Conferences combine leading-edge conferencing and investor communications capabilities with a comprehensive global investor audience network.