BOTJ

EX-99.1

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EX-99.1

Exhibit 991 v2

Bank of the James Announces Second Quarter of 2026 and

First Half of 2026 Financial Results and Declaration of Dividend

Bank of the James Reports First Half 2026 Net Income of $6.01 Million,  $1.32 Per Share

LYNCHBURG, VA, July 30, 2026 -- Bank of the James Financial Group, Inc. (the “Company”) (NASDAQ: BOTJ), the parent company of Bank of the James (the “Bank”), a full-service commercial and retail bank, and Pettyjohn, Wood & White, Inc. (“PWW”), an SEC-registered investment advisor, today announced unaudited results of operations for the three-month and six-month periods ended June 30, 2026. The Bank serves Region 2000 (the greater Lynchburg metropolitan statistical area) and the Blacksburg, Buchanan, Charlottesville, Harrisonburg, Lexington, Nellysford, Roanoke, and Wytheville, Virginia markets.

Second Quarter 2026 and First Half 2026 Highlights

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Net income for the second quarter of 2026 was $3.24 million, an increase of $0.54 million from $2.70 million in the second quarter of 2025. Earnings per share were $0.71 compared with $0.60 per share one year earlier. Net income for the first half of 2026 was $6.01 million, an increase of $2.47 million from $3.55 million in the first half of 2025. Earnings per share were $1.32 compared with $0.78 per share one year earlier. The year-over-year increases reflect higher net interest income, growth in noninterest income, and lower noninterest expense.

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Total assets were $1.041 billion at June 30, 2026, compared with $1.039 billion at December 31, 2025, and $1.004 billion at June 30, 2025.

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Net interest income after provision for (recovery of) credit losses increased 1.4% to $8.90 million in the second quarter of 2026 from $8.78 million in the second quarter of 2025, and increased 8.7% to $17.78 million in the first half of 2026 from $16.36 million in the first half of 2025. The Company recorded a  total provision for credit losses of $350,000 for the second quarter and $204,000 for the first half of 2026. Excluding reductions in the reserve for unfunded commitments, the provision for credit losses on loans were $410,000 and $318,000, respectively.

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Net interest margin (tax-equivalent) was 3.71% for the second quarter of 2026 compared with 3.44% for the second quarter of 2025, and 3.64% for the first half of 2026 compared with 3.34% for the first half of 2025.

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Interest expense decreased 10.5% to $3.03 million in the second quarter of 2026 from $3.39 million in the second quarter of 2025, and decreased 10.9% to $6.15 million in the first half of 2026 from $6.90 million in the first half of 2025, reflecting lower deposit costs and the retirement of approximately $10 million in capital notes in the second quarter of 2025. The decline in deposit costs was driven primarily by lower rates on renewing certificates of deposit and continued discipline in the pricing of interest-bearing transaction accounts.

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Noninterest income increased 9.8% to $4.48 million in the second quarter of 2026 from $4.08 million in the second quarter of 2025, and increased 14.7% to $8.44 million in the first half of 2026 from $7.36 million in the first half of 2025.

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Noninterest expense decreased 1.5% to $9.31 million in the second quarter of 2026 from $9.46 million in the second quarter of 2025, and decreased 3.1% to $18.68 million in the first half of 2026 from $19.28 million in the first half of 2025.

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Wealth management fees from PWW increased 12.8% to $1.47 million in the second quarter of 2026 from $1.30 million in the second quarter of 2025, and increased 12.7% to $2.88 million in the first half of 2026 from $2.56 million in the first half of 2025.

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The efficiency ratio (noninterest expense divided by the sum of net interest income and noninterest income) improved to 67.82% in the second quarter of 2026 from 76.71% in the second quarter of 2025, and to 70.67% in the first half of 2026 from 82.65% in the first half of 2025.

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Loans, net of the allowance for credit losses, were $686.08 million at June 30, 2026, compared with $649.13 million at March 31, 2026, $661.36 million at December 31, 2025, and $649.09 million at June 30, 2025.

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Total deposits were $935.18 million at June 30, 2026, compared with $937.13 million at December 31, 2025, and $910.53 million at June 30, 2025.

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Nonperforming loans were $1.09 million at June 30, 2026, down from $1.70 million at December 31, 2025. The allowance for credit losses was $6.60 million at June 30, 2026, compared with $6.45 million at December 31, 2025, and represented 6.05x coverage of nonperforming loans, compared with 3.79x at December 31, 2025.    The decrease in nonperforming loans was due primarily to the return to accrual status for select relationships.

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Stockholders’ equity increased to $83.15 million at June 30, 2026, from $80.05 million at December 31, 2025, an increase of 3.88%. Book value per share rose to $18.30 from $17.62.

EX-99.1

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EX-99.1

Exhibit 991 - Press Release

Exhibit 99.1

Bank of the James Announces First Quarter

2026 Financial Results and Declaration of Dividend

Bank of the James Reports First Quarter 2026 Net Income of $2.77 Million, or $0.61 Per Share

LYNCHBURG, VA, April 30, 2026 -- Bank of the James Financial Group, Inc. (the “Company”) (NASDAQ:BOTJ), the parent company of Bank of the James (the “Bank”), a full-service commercial and retail bank, and Pettyjohn, Wood & White, Inc. (“PWW”), an SEC-registered investment advisor, today announced unaudited results of operations for the three-month period ended March 31, 2026. The Bank serves Region 2000 (the greater Lynchburg metropolitan statistical area) and the Blacksburg, Buchanan, Charlottesville, Harrisonburg, Lexington, Nellysford, Roanoke, and Wytheville, Virginia markets.

First Quarter 2026 Highlights

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Net income for the first quarter of 2026 was $2.77 million, an increase of $1.93 million from $842,000 in the first quarter of 2025. Earnings per share were $0.61 compared with $0.19 a year earlier. The year-over-year increase reflects higher net interest income, growth in noninterest income, and lower noninterest expense.

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Total assets were $1.06 billion at March 31, 2026, up $49.46 million, or 4.89%, from $1.01 billion at March 31, 2025.

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Loans, net of the allowance for credit losses, were $649.13 million at March 31, 2026, compared with $661.36 million at December 31, 2025.

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Total deposits were $956.55 million at March 31, 2026, compared with $937.13 million at December 31, 2025.

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Net interest income increased 13.15% to $8.73 million in the first quarter of 2026 from $7.72 million in the first quarter of 2025.

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Net interest margin for the three months ended March 31, 2026 was 3.57% compared with 3.25% for the three months ended March 31, 2025.

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Interest expense decreased 11.38% in the first quarter of 2026 to $3.12 million from $3.52 million in the first quarter of 2025, reflecting lower deposit costs and the retirement of capital notes in the second quarter of 2025.

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Efficiency ratio (non-interest expense divided by the sum of net interest income and noninterest income) improved to 73.75% in the first quarter of 2026 from 89.31% in the first quarter of 2025, as revenue growth of 15.40% was paired with a 4.69% decline in noninterest expense.

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Wealth management fees from PWW increased 12.59% to $1.41 million in the first quarter of 2026 from $1.26 million in the first quarter of 2025.

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Stockholders’ equity increased to $81.28 million at March 31, 2026 from $80.05 million at December 31, 2025, an increase of 1.54%. Book value per share rose to $17.89 from $17.62.

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Nonperforming loans were $1.45 million at March 31, 2026, down from $1.70 million at December 31, 2025 and $1.80 million at March 31, 2025. The allowance for credit losses was $6.20 million at March 31, 2026, representing 4.28x coverage of nonperforming loans.

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On April 28, 2026, the Company’s board of directors approved a quarterly dividend of $0.10 per common share to stockholders of record as of May 22, 2026, to be paid on June 5, 2026.

First Quarter 2026 Operational Review

Robert R. Chapman III, CEO of the Bank, commented: “First quarter results were strong, driven by continued efficiency improvements, our investment in front-line teammates, including our commission-based producers, who continue to perform at a high level, as reflected in a lower cost of deposits, higher net interest income, and higher noninterest income. We posted a return on assets above 1% and a return on equity of nearly 14%, maintained strong asset quality, and remained well-capitalized across all measures. In over 26 years, this is our best first quarter.”

Revenue, defined as the sum of net interest income and noninterest income, grew 15.40% year over year, while noninterest expense declined 4.69%. The combination drove the efficiency ratio to 73.75% in the first quarter of 2026, compared with 89.31% in the same period a year ago.

Mike Syrek, President of the Bank, added: “Data processing expense declined $377,000, or 44.2%, as costs normalized under our amended contract with our core provider. On the revenue side, our mortgage division generated $1.20 million in gains on sales of loans held for sale, and Pettyjohn, Wood & White contributed $1.41 million in wealth management fees, up 12.59% year over year.”

Net interest income for the first quarter of 2026 was $8.73 million, up 13.15% from $7.72 million in the first quarter of 2025.

Total interest income was $11.85 million in the first quarter of 2026 compared with $11.23 million a year earlier, reflecting higher yields on loans and securities and growth in average interest-earning assets.

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Total interest expense in the first quarter of 2026 declined 11.38% to $3.12 million compared with $3.52 million in the first quarter of 2025. The decline reflected lower rates paid on NOW,

botj-20260204x8k

false000127510100012751012026-02-042026-02-04

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

Current Report Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): February 4, 2026

BANK OF THE JAMES FINANCIAL GROUP, INC.

(Exact Name of Registrant as Specified in Its Charter)

Virginia 001-35402 20-0500300

(State or other jurisdiction of incorporation or organization) (Commission File Number) (IRS Employer Identification No.)

828 Main Street, Lynchburg, VA

24504

(Address of Principal Executive Offices)

(Zip code)

Registrant’s telephone number, including area code

(434) 846-2000

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class

Trading Symbol(s)

Name of Each Exchange on Which Registered

Common Stock, $2.14 par value

BOTJ

The NASDAQ Capital Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 - Results of Operations and Financial Condition On Wednesday, February 4, 2026, Bank of the James Financial Group, Inc. (the “Company”) issued a press release announcing financial results for the three and twelve months ended December 31, 2025 (the “Press Release”). A copy of the Press Release is attached hereto as Exhibit 99.1. Item 9.01 - Financial Statements and Exhibits (a) Financial statements of businesses acquired – not applicable (b) Pro forma financial information – not applicable (c) Shell company transactions – not applicable (d) Exhibits

Exhibit No. Exhibit Description

99.1 Bank of the James Financial Group, Inc. Press Release February 4, 2026

104 The cover page from this Current Report on Form 8-K, formatted in Inline XBRL

‎

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: February 4, 2026

BANK OF THE JAMES FINANCIAL GROUP, INC.

By /s/ Eric J. Sorenson, Jr. Eric J. Sorenson, Jr. Secretary-Treasurer

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