Suncrest Bank Announces Declaration of its First Cash Dividend

Rhea-AI Summary

Suncrest Bank (OTCQX: SBKK) declared a special one-time cash dividend of $0.25 per share on its outstanding common stock, payable on March 1, 2021. Shareholders of record as of February 22, 2021 will receive the dividend. This decision is part of the bank's capital management strategy, reflecting its strong performance and dedication to enhancing shareholder value, according to President and CEO Ciaran McMullan. The bank is known for offering a range of financial services in California and consistently earns high ratings for its strength.

Positive

• Declaration of a special one-time cash dividend of $0.25 per share.
• Dividend distribution reflects strong financial performance.
• Demonstrates company's commitment to enhancing shareholder value.

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• None.

SACRAMENTO, Calif. and VISALIA, Calif., Feb. 11, 2021 /PRNewswire/ -- Suncrest Bank (OTCQX: SBKK) today announced that its Board of Directors declared a special one-time cash dividend of $0.25 per share on the Bank's outstanding common stock.  The cash dividend will be payable on March 1, 2021 to shareholders of record as of the close of business on February 22, 2021.

"We are delighted to announce the payment of a cash dividend to our shareholders.  Returning excess capital in the form of this special dividend is an important component of our capital management strategy," said Mr. Ciaran McMullan, President and CEO of Suncrest Bank. "It reflects our consistently strong performance and our commitment to enhance shareholder value," McMullan added.

About Suncrest Bank
Suncrest Bank, member FDIC, offers a full range of commercial, small business and agribusiness loans, cash management services and personal deposit products throughout the Central Valley of California and the Greater Sacramento Region. It is regularly rated Five Stars by Bauer Financial as one of the nation's strongest financial institutions, and in 2017 and 2018 was named to the OTCQX® Best 50, a ranking of top performing companies traded on the OTCQX Best Market. It is a Preferred Lender with the Small Business Administration and its stock can be purchased on the open market, trading on the OTCQX under the ticker symbol SBKK. For all other information, visit www.suncrestbank.com

 

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SOURCE Suncrest Bank

FAQ

What is the amount of the cash dividend declared by Suncrest Bank?

The cash dividend declared is $0.25 per share.

When is the cash dividend payable?

The cash dividend will be payable on March 1, 2021.

Who is eligible to receive the cash dividend from Suncrest Bank?

Shareholders of record as of February 22, 2021, are eligible to receive the dividend.

Why did Suncrest Bank declare a special dividend?

The dividend reflects the bank's strong performance and is part of its capital management strategy.