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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): November 19, 2024

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VILLAGE BANK AND TRUST FINANCIAL CORP.

(Exact Name of Registrant as Specified in Charter)

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of Incorporation)

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Virginia

(State or Other Jurisdiction
of Incorporation)

0-50765
(Commission File Number)

16-1694602
(IRS Employer
Identification No.)

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13319 Midlothian Turnpike
Midlothian, Virginia
(Address of Principal Executive Offices)

23113
(Zip Code)

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Registrant’s Telephone Number, Including Area Code: (804) 897-3900

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

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:

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

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

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

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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:

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Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, par value $4.00 per share

VBFC

Nasdaq Capital Market

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ☐

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

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Item 8.01   Other Events.

On November 19, 2024, Village Bank and Trust Financial Corp. issued a press release announcing that its board of directors declared a quarterly cash dividend of $0.18 per common share. The dividend will be payable on December 6, 2024, to shareholders of record as of November 29, 2024.

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A copy of the press release is attached as Exhibit 99.1 to this Form 8-K and is incorporated herein by reference.

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Item 9.01   Financial Statements and Exhibits.

(d)   Exhibits.

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Exhibit No.

Description

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99.1

Press release dated November 19, 2024

104

Cover Page Interactive Data File – the cover page iXBRL tags are embedded within the Inline XBRL document

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SIGNATURES

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

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VILLAGE BANK AND TRUST FINANCIAL CORP.

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(Registrant)

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Date: November 19, 2024

By:

/s/ Donald M. Kaloski, Jr.

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Donald M. Kaloski, Jr.

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Executive Vice President and CFO

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Exhibit 99.1

Graphic

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News Release

For Immediate Release

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VILLAGE BANK AND TRUST FINANCIAL CORP.

ANNOUNCES QUARTERLY CASH DIVIDEND

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Midlothian, Virginia, November 19, 2024. Village Bank and Trust Financial Corp. (the “Company”) (Nasdaq symbol: VBFC), the parent company of Village Bank, announced today that its Board of Directors has declared a cash dividend of $0.18 per share with respect to the Company's outstanding common stock. The dividend will be payable on December 6, 2024, to shareholders of record at the close of business on November 29, 2024.

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The amount and declaration of future cash dividends are subject to the Board of Directors’ approval. In making its decision on the payment of dividends, the Board of Directors considers operating results, financial condition, capital adequacy, regulatory requirements, shareholder returns, market conditions and other factors.

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About Village Bank and Trust Financial Corp.

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Village Bank and Trust Financial Corp. was organized under the laws of the Commonwealth of Virginia as a bank holding company whose activities consist of investment in its wholly-owned subsidiary, Village Bank. Village Bank is a full-service Virginia-chartered community bank headquartered in Midlothian, Virginia with deposits insured by the Federal Deposit Insurance Corporation (“FDIC”).  The Bank has nine branch offices. Village Bank and its wholly-owned subsidiary, Village Bank Mortgage Corporation, offer a complete range of financial products and services, including commercial loans, consumer credit, mortgage lending, checking and savings accounts, certificates of deposit, and 24-hour banking.

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Forward-Looking Statements

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In addition to historical information, this press release may contain forward-looking statements. For this purpose, any statement, that is not a statement of historical fact may be deemed to be a forward-looking statement. These forward-looking statements may include statements regarding profitability, liquidity, allowance for loan losses, interest rate sensitivity, market risk, growth strategy and financial and other goals. Forward-looking statements often use words such as “believes,” “expects,” “plans,” “may,” “will,” “should,” “projects,” “contemplates,”

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“anticipates,” “forecasts,” “intends” or other words of similar meaning. You can also identify them by the fact that they do not relate strictly to historical or current facts. Forward-looking statements are subject to numerous assumptions, risks and uncertainties, and actual results could differ materially from historical results or those anticipated by such statements.

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There are many factors that could have a material adverse effect on the operations and future prospects of the Company including, but not limited to:

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●changes in assumptions underlying the establishment of allowances for credit losses, and other estimates;
●the risks of changes in interest rates on levels, composition and costs of deposits, loan demand, and the values and liquidity of loan collateral, securities, and interest sensitive assets and liabilities;
●the ability to maintain adequate liquidity by retaining deposit customers and secondary funding sources, especially if the Company’s or banking industry’s reputation becomes damaged;
●the effects of future economic, business and market conditions;
●legislative and regulatory changes, including the Dodd-Frank Wall Street Reform and Consumer Protection Act and other changes in banking, securities, and tax laws and regulations and their application by our regulators, and changes in scope and cost of FDIC insurance and other coverages;
●our inability to maintain our regulatory capital position;
●the Company’s computer systems and infrastructure may be vulnerable to attacks by hackers or breached due to employee error, malfeasance, or other disruptions despite security measures implemented by the Company;
●changes in market conditions, specifically declines in the residential and commercial real estate market, volatility and disruption of the capital and credit markets, and soundness of other financial institutions with which we do business;
●risks inherent in making loans such as repayment risks and fluctuating collateral values;
●changes in operations of Village Bank Mortgage Corporation as a result of the activity in the residential real estate market;
●exposure to repurchase loans sold to investors for which borrowers failed to provide full and accurate information on or related to their loan application or for which appraisals have not been acceptable or when the loan was not underwritten in accordance with the loan program specified by the loan investor;
●governmental monetary and fiscal policies;
●geopolitical conditions, including acts or threats of terrorism and/or military conflicts, or actions taken by the U.S. or other governments in response to acts or threats of terrorism and/or military conflicts, negatively impacting business and economic conditions in the U.S. and abroad;
●changes in accounting policies, rules and practices;
●reliance on our management team, including our ability to attract and retain key personnel;

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●competition with other banks and financial institutions, and companies outside of the banking industry, including those companies that have substantially greater access to capital and other resources;
●demand, development and acceptance of new products and services;
●problems with technology utilized by us;
●the occurrence of significant natural disasters, including severe weather conditions, floods, health related issues, and other catastrophic events;
●changing trends in customer profiles and behavior; and
●other factors described from time to time in our reports filed with the Securities and Exchange Commission (“SEC”).

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Additional factors, that could cause actual results to differ materially from those expressed in the forward-looking statements are discussed in the Company’s reports (such as our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K) filed with the SEC and available on the SEC’s Web site at www.sec.gov.

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For further information contact Donald M. Kaloski, Jr., Executive Vice President and CFO at 804-897-3900 or dkaloski@villagebank.com.

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Entity Address, Address Line One 13319 Midlothian Turnpike
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