Michael S. Ives Updated 3:05 PM CDT, Mon July 7, 2025 Published Under: News July 7, 2025Our fiscal year ended on June 30, and I wanted to give you a snapshot of the Bank's growth over the past twelve months. In spite of several changes and challenges, the Bank has achieved strong growth in several key areas. Please look at the following metrics:JUNE 30, 2024JUNE 30, 2025 PERCENTAGE INCREASEGROSS LOANS$41.2 Million$46.8 Million 13.6%NONINTEREST-BEARING DEPOSITS$26.6 Million$35.4 Million 33.1%TOTAL DEPOSITS$53.7 Million$63.2 Million 17.7% We have accomplished this with only 10 full-time employees!Of course, HOW the Bank grew is just as important as HOW MUCH the Bank grew. Since opening the Bank in 2021, we have been committed to excellent asset quality and to maintaining excellent asset quality as the Bank grows. Indeed, most of you expected that when you made your investments in the Bank. So far, we have made good on those expectations. In the past, we might have told you about the Bank’s excellent asset quality, but we did not provide you with many specifics on this important aspect of shareholder value. Please look at the following metrics:JUNE 30, 2024JUNE 30, 2025LOANS PAST DUE MORE THAN 30 DAYS00NONACCRUAL LOANS00FORECLOSED PROPERTY00SPECIAL MENTION LOANS00SUBSTANDARD LOANS00 The terms "special mention" and "substandard" are accounting and regulatory terms describing problem loans for banks. These terms are used by all banks, large and small, in their regulatory and annual reports. Loans are categorized as "special mention" when they show signs of potential weaknesses and/or negative trends that, if left uncorrected, may inadequately protect the Bank's credit position. Loans categorized as "substandard" have more well-defined and persistent credit weaknesses that, if left uncorrected, increase the probability of default and/or loss. The numbers above speak for themselves. It is highly unlikely that any other bank in Virginia can match this record and, of course, no other bank in Virginia could do better. Even more amazing than our current record is that the Bank has maintained this level of asset quality EACH AND EVERY MONTH since it opened.Also, I am pleased to announce that our Board of Directors has elected Duane Rupp as our new Chief Financial Officer. Duane has been with us from the beginning and has previously served in various accounting and financial positions with the Bank.Finally, for a limited time, we are continuing to offer our one-year Certificate of Deposit (CD) with an annual percentage yield of 4.15%. If you believe that the Federal Reserve Bank will lower its Fed Funds rates in the near future, this CD would help you preserve the yield on your deposits for the next year. Michael S. IvesPresident and Chief Executive Officer The above letter from the CEO of Integrity Bank for Business (the “Bank”) may contain “forward looking statements” regarding future events and future results of the Bank. Forward-looking statements can be identified by words such as “anticipates,” “estimates,” “intends,” “plans,” “believes,” “projects,” “will,” “expects,” “may,” and similar references to future periods. Forward-looking statements are neither historical facts nor assurances of future performance, but are based only on the Bank’s current beliefs, expectations, and assumptions regarding the future of its business, plans and strategies, projections, anticipated events and trends, the economy, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict and outside of the Bank’s control. The Bank’s actual results and financial condition may differ materially from those indicated in forward-looking statements, and therefore you should not rely on forward-looking statements. Any forward-looking statement made by the Bank is based only on information available to the Bank as of the date on which it is made, and the Bank has no obligation to update any forward-looking statement, whether as a result of new information, future developments or otherwise.
