First Choice Bancorp Announces Quarterly Cash Dividend

Rhea-AI Summary

First Choice Bancorp (NASDAQ: FCBP) has declared a cash dividend of $0.25 per share during a special meeting on April 25, 2021. This dividend will be payable on or about May 24, 2021 to shareholders on record by the close of business on May 10, 2021. As of March 31, 2021, the company reported total consolidated assets of $2.50 billion, highlighting its strong position in serving commercial and consumer clients through eight branches in California. The bank emphasizes its commitment to diversity, with over 72% of its workforce identifying as ethnic minorities and more than 65% as female.

Positive

• Declared a cash dividend of $0.25 per share.
• Significant total consolidated assets of $2.50 billion as of March 31, 2021.
• Strong commitment to diversity with over 72% of employees as ethnic minorities.

Negative

• None.

Cerritos, CA, April 26, 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 special meeting held on April 25, 2021. The dividend will be payable on or about May 24, 2021 to holders of the Company’s common stock of record as of the close of business on May 10, 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 March 31, 2021, First Choice Bancorp had total consolidated assets of $2.50 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 March 31, 2021, more than 72% of the Company's total workforce identified as ethnic minorities and more than 65% 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

FAQ

What is the dividend amount declared by First Choice Bancorp?

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

When is the dividend payable for FCBP?

The dividend will be payable on or about May 24, 2021.

What is the record date for the dividend?

The record date for the dividend is May 10, 2021.

What are the total assets of First Choice Bancorp?

As of March 31, 2021, First Choice Bancorp had total consolidated assets of $2.50 billion.

What is First Choice Bancorp's commitment to diversity?

First Choice Bancorp has over 72% of its workforce identifying as ethnic minorities and more than 65% as female.