First Choice Bancorp Announces Quarterly Cash Dividend

Rhea-AI Summary

First Choice Bancorp (NASDAQ: FCBP) declared a cash dividend of $0.25 per share on February 4, 2021, during its Board meeting. This dividend is scheduled for payment on or about March 4, 2021, to shareholders of record by the close of business on February 18, 2021. As of December 31, 2020, the company had consolidated assets of $2.28 billion and operates primarily in commercial and consumer banking, focusing on small- to medium-sized businesses.

Positive

• Dividend of $0.25 per share enhances shareholder income.
• Total consolidated assets of $2.28 billion indicate strong financial position.

Negative

• None.

Cerritos, CA, Feb. 05, 2021 (GLOBE NEWSWIRE) -- First Choice Bancorp (NASDAQ: FCBP) (the "Company"), the holding company of First Choice Bank, today announced that its Board of Directors declared a $0.25 per share cash dividend at its regular meeting held on February 4, 2021. The dividend will be payable on or about March 4, 2021 to holders of the Company’s common stock of record as of the close of business on February 18, 2021.

About First Choice Bancorp

First Choice Bancorp, headquartered in Cerritos, California, is the sole shareholder of and the registered bank holding company for, First Choice Bank. As of December 31, 2020, First Choice Bancorp had total consolidated assets of $2.28 billion. First Choice Bank, also headquartered in Cerritos, California, is a community-based financial institution that serves primarily commercial and consumer clients in diverse communities and specializes in loans to small- to medium-sized businesses and private banking clients, commercial and industrial loans, and commercial real estate loans. First Choice Bank is a Preferred Small Business Administration (SBA) Lender. First Choice Bank conducts business through eight full-service branches and two loan production offices located in Los Angeles, Orange and San Diego Counties. Founded in 2005, First Choice Bank has quickly become a leading provider of financial services that enable our customers to grow, maintain strength, and achieve their business objectives. We strive to surpass our clients’ expectations through our efficiency, personalized services and financial solutions and professionalism and are committed to being “First in Speed, Service, and Solutions.” First Choice Bank is a strong believer in social justice and equality and is proud of its cultural- and gender-diverse workforce. As of December 31, 2020, more than 74% of the Company's total workforce identified as ethnic minorities and more than 66% of its workforce and more than 50% of its senior management identified as female. First Choice Bancorp stock is traded on the Nasdaq Capital Market under the ticker symbol “FCBP.”

First Choice Bank’s website is www.FirstChoiceBankCA.com.

Forward-Looking Statements

The statements contained herein that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and are based on management’s current expectations and beliefs concerning future developments and their potential effects on the Company including, without limitation, plans, strategies and goals, and statements about the Company’s expectations regarding revenue and asset growth, financial performance and profitability, loan and deposit growth, yields and returns, loan diversification and credit management, shareholder value creation and tax rates. There can be no assurance that future developments affecting the Company will be the same as those anticipated by management. Actual results may differ materially from those set forth in the forward-looking statements due to a variety of factors, including the risk factors described in documents filed by the Company with the Securities and Exchange Commission.

The Company does not undertake, and specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences or unanticipated events or circumstances after the date of such statements except as required by law. Any statements about future operating results, such as those concerning accretion and dilution to the Company's earnings or shareholders, are for illustrative purposes only, are not forecasts, and actual results may differ.

Contacts
First Choice Bancorp
Robert M. Franko, 562.345.9241
President, Chief Executive Officer and Chief Financial Officer

First Choice Bancorp
Khoi D. Dang, Esq., 562.263.8336
Executive Vice President and General Counsel

First Choice Bank
Mag Wangsuwana, 562.263.8340
Senior Vice President and Chief Financial Officer

FAQ

What is the dividend amount declared by FCBP?

First Choice Bancorp declared a dividend of $0.25 per share.

When will the dividend be paid to shareholders?

The dividend will be payable on or about March 4, 2021.

What is the record date for FCBP's dividend?

The record date for the dividend is February 18, 2021.

How much are First Choice Bancorp's total consolidated assets?

As of December 31, 2020, total consolidated assets were $2.28 billion.