John Marshall Bancorp, Inc. Announces Special Cash Dividend

Rhea-AI Summary

John Marshall Bancorp, Inc. (OTCQB: JMSB) has announced a special cash dividend of $0.20 per share, payable on or about May 24, 2022, to stockholders of record as of May 10, 2022. CEO Chris Bergstrom emphasized the company's strong financial position despite pandemic challenges, indicating confidence in future growth. The bank, headquartered in Reston, Virginia, manages assets totaling approximately $2.1 billion and operates eight full-service branches across the D.C. Metro area.

Positive

• Declaration of a special cash dividend of $0.20 per share.
• Dividend reflects a strong financial position and performance.
• Positive outlook for future profitable growth.

Negative

• None.

RESTON, Va.--(BUSINESS WIRE)-- John Marshall Bancorp, Inc. (OTCQB: JMSB) today announced that its Board of Directors has declared a one-time, special cash dividend of $0.20 per outstanding share of common stock. The dividend will be paid on or about May 24, 2022, to stockholders of record as of the close of business on May 10, 2022.

Chris Bergstrom, President and CEO commented, “Despite a challenging economic backdrop during the pandemic, we are pleased to be able to declare this special cash dividend to the shareholders, reflecting our strong financial position and performance. We believe we are well-positioned for future profitable growth.”

About John Marshall Bancorp, Inc.

John Marshall Bancorp, Inc. is the bank holding company for John Marshall Bank. John Marshall Bank ("JMB" or the "Bank") is a $2.1 billion bank headquartered in Reston, Virginia with eight full-service branches located in Alexandria, Arlington, Loudoun, Prince William, Reston, and Tysons, Virginia, as well as Rockville, Maryland, and Washington, D.C. with one loan production office in Arlington, Virginia. The Bank is dedicated to providing exceptional value, personalized service and convenience to local businesses and professionals in the Washington D.C. Metro area. JMB offers a comprehensive line of sophisticated banking products and services that rival those of the largest banks along with experienced staff to help achieve customers’ financial goals. Dedicated Relationship Managers serve as direct points-of-contact, providing subject matter expertise in a variety of niche industries including Charter and Private Schools, Government Contractors, Health Services, Nonprofits and Associations, Professional Services, Property Management Companies, and Title Companies. Learn more at www.johnmarshallbank.com.

In addition to historical information, this press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 which are based on certain assumptions and describe future plans, strategies and expectations of the Company. These forward-looking statements are generally identified by use of the words "believe," "expect," "intend," "anticipate," "estimate," "project," "will," "should," "may," "view," "opportunity," "potential," or similar expressions or expressions of confidence. The Company’s ability to predict results or the actual effect of future plans or strategies is inherently uncertain. Factors which could have a material adverse effect on the operations of the Company and its subsidiary include, but are not limited to the following: changes in interest rates, general economic conditions, public health crises (such as the governmental, social and economic effects of COVID-19), levels of unemployment in the Bank’s lending area, real estate market values in the Bank’s lending area, future natural disasters, the level of prepayments on loans and mortgage-backed securities, legislative/regulatory changes, monetary and fiscal policies of the U.S. Government including policies of the U.S. Treasury and the Board of Governors of the Federal Reserve System, the quality or composition of the loan or investment portfolios, demand for loan products, deposit flows, competition, demand for financial services in the Company’s market area, accounting principles and guidelines, and other conditions which by their nature are not susceptible to accurate forecast, and are subject to significant uncertainty. These risks and uncertainties should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. The Company does not undertake, and specifically disclaims any obligation, to publicly release the result of any revisions which may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220315006276/en/

Christopher W. Bergstrom, President & CEO of John Marshall Bancorp, Inc.

(703) 584-0840

Source: John Marshall Bancorp, Inc.

FAQ

What is the dividend amount declared by JMSB?

John Marshall Bancorp, Inc. has declared a special cash dividend of $0.20 per share.

When will JMSB's dividend be paid?

The dividend will be paid on or about May 24, 2022.

What is the record date for the JMSB dividend?

The record date for the dividend is May 10, 2022.

How does JMSB's dividend reflect its financial health?

The dividend declaration indicates a strong financial position and performance despite challenging economic conditions.