Summit Bancshares, Inc. Announces a Special Dividend

Rhea-AI Summary

Summit Bancshares, Inc. announced a special cash dividend of $0.41 per share on January 18, 2023, marking the bank's 41st anniversary. This dividend will be payable on February 8, 2023, to shareholders on record as of the close of business on January 25, 2023.

The announcement highlights the company's commitment to returning value to its shareholders while celebrating its long-standing presence in the banking sector.

Positive

• Declared a special cash dividend of $0.41 per share to reward shareholders.
• Demonstrates financial stability and commitment to shareholder returns.

Negative

• None.

OAKLAND, Calif.--(BUSINESS WIRE)-- The Board of Directors of Summit Bancshares, Inc. at a meeting held on January 18, 2023, in recognition of the bank’s 41st year in business, declared a one-time special cash dividend of $0.41 per share, payable on February 8, 2023, to holders of record as of the close of business on January 25, 2023.

Summit Bancshares, Inc. (OTC Bulletin Board: SMAL) is the parent company of Summit Bank.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230119005827/en/

Shirley W. Nelson

(510) 839-8800

Source: Summit Bancshares, Inc.

FAQ

What is the amount of the dividend declared by SMAL?

Summit Bancshares, Inc. declared a special cash dividend of $0.41 per share.

When will the dividend be paid to SMAL shareholders?

The dividend will be payable on February 8, 2023.

What is the record date for the SMAL dividend?

The record date for the dividend is January 25, 2023.