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SVB&T (OTCQX:SVBT), the parent company of Springs Valley Bank & Trust Company, announced a quarterly dividend of $0.20 per share of its common stock. This dividend will be payable on or about July 15, 2024, to shareholders of record as of June 14, 2024. The dividend represents an 11.11% annualized increase over the total dividend declared for the 2023 fiscal year. Springs Valley Bank & Trust Company serves Dubois, Daviess, Gibson, and Orange Counties with full-service banking and financial services, including checking and savings accounts, loans, and investment services. The bank is FDIC insured and an Equal Housing Lender.
SVB&T , parent company of Springs Valley Bank & Trust Company, reported 2024 first quarter earnings of $1.40 million, with a decrease in EPS compared to the prior year. Net interest income decreased, while noninterest income and expenses increased. Book value and stock price increased, with shares being repurchased. Total assets, loans, and deposits decreased, with a focus on core deposit growth. Management remains optimistic despite external challenges.
