Capital allocation remains focused on stability, evidenced by a consistent quarterly dividend payout of approximately $455,000 despite volatile provisioning trends.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 |
|---|
| Cash from Operations | 15.64M | 11.66M | 8.51M | 9.49M | 9.31M | 16.35M | 5.2M | 5.59M | 8.57M | 6.72M | 2.79M | 3.35M | 5.63M | 4.79M | 5.05M | 7.12M | 7.72M | 1.65M | 2.25M | 2.44M | 2.35M | 3.57M | 2.43M | 1.79M | 1.95M | 1.09M |
| Operating CF Growth % | 558.51% | 37.03% | -10.36% | 1.93% | -43.04% | 214.46% | -7.03% | -34.77% | 27.63% | 141.18% | -16.79% | -40.5% | 17.41% | -5.11% | -29.13% | -7.73% | 367.66% | -26.59% | -7.94% | 3.87% | -34.04% | 46.93% | 35.74% | -8.11% | 78.07% | - |
| Net Income | 10.95M | 9.02M | 7.94M | 8.7M | 8.96M | 7.59M | 4.98M | 5.61M | 5.3M | 2.92M | 3.29M | 3.69M | 3.41M | 3.06M | 2.13M | 600K | 1.82M | -642K | 224K | 2.08M | 1.76M | 1.79M | 1.47M | 1.42M | 821.44K | 629.33K |
| Depreciation & Amortization | 1.68M | 1.89M | 1.94M | 1.97M | 2.61M | 2.06M | 2.03M | 1.67M | 930K | 811K | 767K | 767K | 756K | 720K | 681K | 715K | 813K | 867K | 757K | 700K | 700K | 703K | 773K | 393K | 326.12K | 256.68K |
| Deferred Taxes | 0 | -156K | 28K | -356K | -10K | 114K | -838K | -17K | -132K | 764K | -455K | -74K | 362K | 278K | -312K | 195K | -79K | -536K | -487K | 3K | -178K | 16K | 138K | -6K | -7K | -215.54K |
| Other Non-Cash Items | 3.77M | -502K | -3.22M | 1.91M | -1.45M | 5.58M | -162K | -1.72M | 2.31M | 2.53M | -431K | -396K | 1.48M | 1.05M | 3.14M | 5.36M | 3.32M | 4.91M | 3.81M | 473K | 774K | 793K | 754K | 536K | 624.16K | 420.28K |
| Working Capital Changes | -763K | 1.41M | 1.82M | -2.74M | -797K | 900K | -916K | -50K | 164K | -314K | -382K | -642K | -381K | -319K | -588K | 256K | 1.84M | -2.95M | -2.07M | -817K | -709K | 263K | -703K | -551K | 181.27K | 2K |
| Cash from Investing | -54.74M | -42.4M | -11.17M | -23.34M | -88.13M | -65.03M | -62.05M | -52.52M | -38.77M | -46.71M | -47.21M | -50.29M | -30.29M | -21.7M | 1.15M | -9.51M | 357K | -96.36M | -49.28M | -42.89M | -36.37M | -21.46M | -33.3M | -29.85M | -33.95M | -28.34M |
| Purchase of Investments | -61.41M | -44.61M | -20.85M | -34.85M | -77.49M | -84.53M | -51.15M | -16.99M | -998K | -29.83M | -41.75M | -27.02M | -3.14M | -30.85M | -44.34M | -73.83M | -45.66M | -79.41M | -20.9M | -14.8M | -7.88M | -19.45M | -15.88M | -10M | -14.09M | -3.05M |
| Sale/Maturity of Investments | 14.21M | 27.98M | 47.21M | 12.13M | 19.4M | 8.36M | 23.15M | 12.9M | 4.2M | 13.17M | 34.88M | 15.06M | 28.83M | 30.18M | 48.51M | 71.78M | 53.12M | 34.58M | 29.22M | 8.93M | 5.5M | 14.9M | 10.55M | 11.39M | 3.63M | 5.65M |
| Net Investment Activity | -47.2M | -16.63M | 26.36M | -22.73M | -58.09M | -76.17M | -28M | -4.09M | 3.21M | -16.66M | -6.87M | -11.96M | 25.69M | -669K | 4.17M | -2.04M | 7.46M | -44.83M | 8.31M | -5.87M | -2.37M | -4.56M | -5.33M | 1.39M | -10.46M | 2.6M |
| Acquisitions | 150K | 0 | 0 | 0 | -818K | -10.4M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Investing | -7.3M | -24.6M | -34.98M | 965K | -28.03M | 24.45M | -32.3M | -44.04M | -39.67M | -28.14M | -38.63M | -36.82M | -54.64M | -20.21M | -2.6M | -6.77M | -6.84M | -47.88M | -55.17M | -37M | -32.62M | -16.01M | -26.42M | -29.45M | -22.52M | -30.65M |
| Cash from Financing | 32.13M | 41.9M | 1.14M | 26.92M | -42.57M | 130.95M | 118.63M | 35.72M | 43.5M | 48.33M | 44.45M | 62.85M | 20.74M | -7.42M | 11.46M | 6.96M | -20.62M | 110.19M | 58.55M | 34.88M | 34.66M | 23.15M | 24.64M | 29.98M | 37.32M | 23.99M |
| Dividends Paid | -1.82M | -1.82M | -1.82M | -1.46M | -1.36M | -1.27M | -1.22M | -1.23M | -1.05M | -1.05M | -1.05M | -803K | -506K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | -997K | -1.4M | -427K | -275K | -315K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -61K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Stock Issued | 0 | 0 | 0 | 0 | 0 | 0 | 10.03M | 0 | 0 | 0 | 0 | 10.65M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5.33M | 0 | 0 | 0 | 0 | 0 |
| Net Stock Activity | 0 | 0 | 0 | -997K | -1.4M | -427K | 9.75M | -315K | 0 | 0 | 0 | 10.65M | 0 | 0 | 0 | 0 | 0 | 0 | -61K | 0 | 5.33M | 0 | 0 | 0 | 0 | 0 |
| Debt Issuance (Net) | -1.6M | -1000K | -992K | -944K | -889K | 1000K | -1000K | -156K | 0 | 1000K | -1000K | -1000K | 1000K | 0 | -1000K | 0 | -1000K | 1000K | 1000K | 1000K | 0 | 0 | 1000K | 0 | 0 | 0 |
| Other Financing | 44.87M | 54.73M | 3.94M | 30.32M | -38.92M | 122.09M | 115.51M | 37.42M | 44.55M | 44.38M | 55.5M | 65M | 11.24M | -7.42M | 16.46M | 6.96M | -10.62M | 104.19M | 37.61M | 29.03M | 29.33M | 22.82M | 20.35M | 29.98M | 37.32M | 23.99M |
| Net Change in Cash | -6.97M | 11.17M | -1.53M | 13.08M | -121.39M | 82.27M | 61.77M | -11.21M | 13.31M | 8.34M | 28K | 15.91M | -3.93M | -24.33M | 17.66M | 4.58M | -12.55M | 15.48M | 11.51M | -5.56M | 640K | 5.26M | -6.24M | 1.92M | 5.32M | -3.25M |
| Exchange Rate Effect | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1K | 0 | 0 | 0 | 0 | 0 |
| Cash at Beginning | 84.47M | 73.31M | 74.84M | 61.76M | 183.15M | 100.89M | 39.11M | 50.33M | 37.02M | 28.68M | 28.66M | 12.74M | 16.67M | 41M | 23.34M | 18.76M | 31.3M | 15.82M | 4.31M | 9.88M | 9.24M | 3.98M | 10.22M | 8.3M | 2.98M | 6.23M |
| Cash at End | 87.99M | 84.47M | 73.31M | 74.84M | 61.76M | 183.15M | 100.89M | 39.11M | 50.33M | 37.02M | 28.68M | 28.66M | 12.74M | 16.67M | 41M | 23.34M | 18.76M | 31.3M | 15.82M | 4.31M | 9.88M | 9.24M | 3.98M | 10.22M | 8.3M | 2.98M |
| Interest Paid | 13.01M | 13.4M | 15.16M | 9.23M | 2.11M | 2.14M | 4.63M | 5.22M | 3.78M | 2.97M | 2.32M | 2.69M | 2.33M | 2.44M | 3.06M | 4.2M | 6.47M | 9.35M | 8.12M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Income Taxes Paid | 2.34M | 2.34M | 1.85M | 1.86M | 2.18M | 2.55M | 1.58M | 120K | 1.27M | 1.82M | 2.1M | 1.88M | 1.43M | 1.27M | 800K | 712K | 1.04M | 0 | 809K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Free Cash Flow | 15.24M | 10.49M | 5.96M | 7.92M | 8.12M | 13.44M | 3.45M | 1.19M | 6.27M | 4.8M | 1.08M | 1.83M | 4.28M | 3.97M | 4.63M | 6.43M | 7.46M | -2M | -176K | 2.43M | 975K | 2.68M | 881K | 6K | 982.01K | 808.93K |
| FCF Growth % | 95.2% | 76.12% | -24.74% | -2.5% | -39.58% | 289.79% | 188.78% | -80.96% | 30.72% | 345.08% | -41.25% | -57.16% | 7.88% | -14.35% | -27.92% | -13.75% | 472.38% | -1037.5% | -107.24% | 149.44% | -63.57% | 203.75% | 14583.33% | -99.39% | 21.4% | - |
Lynchburg MSA economic concentration
According to recent SEC filings, BOTJ maintains a consistent dividend payout policy, with quarterly distributions holding steady at approximately $455,000, which suggests that the bank prioritizes capital retention to support organic growth within its Lynchburg footprint rather than aggressive capital return programs for its shareholders.
The bank's ability to generate positive net income consistently, as evidenced by the $2.8 million reported in 2026Q1, provides a reliable foundation for regulatory capital buffers. Investors should monitor whether this retained capital is sufficient to offset potential asset quality volatility given the bank's reliance on localized commercial lending.
As reported in financial statements, BOTJ's investment activity shows significant variability, highlighted by a $33.6 million purchase of securities in 2026Q1, which indicates a strategic shift toward deploying excess liquidity into the investment portfolio rather than relying solely on loan originations for asset growth.
The frequent oscillation between purchasing and selling securities suggests that management actively manages the duration and liquidity profile of the balance sheet. This behavior may indicate an attempt to optimize yield in a fluctuating interest rate environment while maintaining a buffer against potential deposit outflows.
Based on BOTJ's reported figures, the bank has maintained a remarkably flat dividend payout of roughly $454,000 per quarter over the last ten periods, signaling a conservative approach to capital return that prioritizes balance sheet stability over increasing cash distributions to equity holders.
The absence of share buybacks in the provided data suggests that management views current capital levels as necessary for supporting the bank's physical branch network and loan growth. This disciplined approach appears to align with the bank's role as a stable, income-oriented utility within its regional market.
As indicated by historical data, the provision for credit losses has fluctuated significantly, ranging from a $553,000 credit in 2024Q1 to a $266,000 expense in 2025Q4, which complicates the assessment of the bank's underlying asset quality and the cash flow impact of credit risk management.
These swings in provisioning suggest that management's outlook on the local Lynchburg economy is subject to frequent recalibration. Analysts should investigate whether these adjustments reflect actual changes in loan performance or merely the inherent subjectivity of the CECL accounting model applied to a concentrated portfolio.
Quick answers to the most common questions about buying BOTJ stock.
Bank of the James Financial Group, Inc. (BOTJ) generated $11.7M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Bank of the James Financial Group, Inc. (BOTJ) generated $10.5M in free cash flow in 2025. Free cash flow is the cash left over after capital expenditures, which can be used to pay dividends, repurchase shares, or pay down debt.
Bank of the James Financial Group, Inc. (BOTJ) spent $1.2M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.
In 2025, Bank of the James Financial Group, Inc. (BOTJ) returned $1.8M to shareholders via cash dividends. This shows the company's commitment to returning capital to its equity investors.