The Annual Meeting for Bancorp. of Southern Indiana (BSI) was held April 20, 2026, at The Copper Top in Seymour, Indiana. During the meeting, Marvin S. Veatch, President of BSI and President/CEO of Jackson County Bank (JCBank), announced 2025 consolidated net earnings of $8,275,000 which resulted in Return on Average Equity and Return on Average Asset measures of 10.57% and 0.80%, respectively. The current year’s activities resulted in earnings of $6.13 per share.
Veatch reported that total assets for the year increased $84.9 million to $1,067.2 million as of December 31, 2025, an increase of 8.6% over 2024. Total deposits grew $55.6 million year-over-year, or 7.1%. Total outstanding loan balances grew $70.3 million or 8.7%, ending the year with approximately $878.1 million in outstanding loan balances.
Shareholders re-elected directors Billy L. Bemis, Ann C. Coriden, and Dr. Eric D. Fish for additional three-year terms.
Warren L. Forgey, Chairman of the Board, announced transitions within the Board of Directors. Susan “Suzi” G. Judd retired from the Board in June 2025, concluding a thirty-one year tenure that began in 1994. David M. Geis also transitioned into retirement, effective April 2026, after dedicating 45 years to the Board.
Veatch highlighted 2025 as an exceptional year for the organization, marked by the bank’s 125th anniversary and strong financial performance. Notably, total assets surpassed the one-billion-dollar mark, and earnings achieved the second highest level in the company’s 125-year history. These achievements underscore the bank’s enduring strength, the dedication of its team, and the continued trust of the communities it serves.
Veatch also overviewed various ongoing strategic investments aimed at positioning JCBank as the preferred choice for both current and prospective customers. In addition to the investments made to enhance overall customer experience, he highlighted the North Vernon Banking Center relocation and the renovations at the new 3002 East Third Street Banking Center in Bloomington, which Veatch stated is slated to open in June, 2026.
Peymon S. Torabi, Vice President and Treasurer of BSI and Senior Vice President, CFO of JCBank, noted that as JCBank celebrated its 125th anniversary, the board of directors was pleased to mark the occasion with a special one-time dividend of $0.125 cents, paid in December 2025. He also reported improvements in key profitability measures. Return on Average Equity increased to 10.57% in 2025 from 10.32% in 2024 and Return on Average Assets rose to 0.80% in 2025 from 0.74% in 2024. Net income per share saw a 22.9% increase, rising to $6.13 in 2025 from $4.99 in 2024.
In his closing, Veatch expressed gratitude to JCBank team members for their hard work and dedication and shared his optimism for the future. He affirmed the Board’s and bank’s leadership focus on “Creating Exceptional Experiences for Every Customer, Every Time!”