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Surrey Bancorp has declared a quarterly cash dividend of $0.12 per share, payable on April 10, 2023, to shareholders on record by March 17, 2023. This decision reflects the Company’s strong financial standing and its commitment to enhancing shareholder value, as stated by CEO Ted Ashby. The Company, which operates through Surrey Bank & Trust, is well-positioned in North Carolina and Virginia with multiple branch locations. Alongside this dividend announcement, Surrey Bancorp is involved in a proposed merger with First Community Bankshares. Shareholders are encouraged to review associated documents for comprehensive details regarding the merger.
Surrey Bancorp (SRYB) announced a special cash dividend of $0.15 per share and a regular quarterly cash dividend of $0.105 per share, payable on January 10, 2023. Shareholders of record by December 16, 2022, will receive these dividends. CEO Ted Ashby highlighted that the dividend decisions reflect the Company's strong financial condition and commitment to shareholder value. Surrey Bancorp is the parent company of Surrey Bank & Trust, with multiple branch locations in North Carolina and Virginia.
Surrey Bancorp (SRYB) announced its Q3 2022 earnings, reporting a net income of $2,118,976 ($0.51 per share), up from $842,609 ($0.20 per share) in Q3 2021. Key factors included a rise in net interest income to $4,396,963, driven by increased interest rates. The provision for loan losses saw a significant recapture of $37,348, marking a $245,493 decrease from the previous year. Total assets grew 5.5% year-over-year to $499,788,812, while total deposits increased by 4.9%. However, net loans fell by 1.6% to $244,508,782.
The Board of Directors of Surrey Bancorp (SRYB) has declared a quarterly cash dividend of 10.5 cents ($0.105) per share, payable on October 7, 2022, to shareholders of record by September 16, 2022. CEO Ted Ashby stated this decision reflects the Company’s strong financial condition and commitment to shareholder value. Surrey Bancorp, the holding company for Surrey Bank & Trust, operates several full-service and limited-service branches in North Carolina and Virginia, providing a solid banking foundation for its clients.
Surrey Bancorp (Pink Sheets: SRYB) reports a strong second quarter of 2022 with net income of $1,557,682, up from $1,093,784 in Q2 2021, translating to $0.37 per diluted share.
Key highlights include a net interest income increase to $3,385,534, despite a drop in loan fees. The provision for loan losses saw a significant recapture of $414,965, indicating improved asset quality. Total assets rose 4.9% to $492,808,490, while total deposits surged by 24.2% to $431,232,422. However, net loans decreased by 13.9% to $236,914,460.
On May 18, 2022, Surrey Bancorp (SRYB) declared a quarterly cash dividend of $0.105 per share, payable on July 8, 2022. Shareholders of record as of June 17, 2022, will receive this payment. CEO Ted Ashby highlighted that this decision reflects strong financial performance and the company's commitment to shareholder value.
Surrey Bancorp (SRYB) reported its first quarter 2022 earnings with a net income of $1,487,503, or $0.36 per share, down from $1,987,375, or $0.48 per share, in Q1 2021. The decline is attributed to the previous year's sale of SB&T Insurance, which added $858,778 in noninterest income. Net interest income fell 3.6% to $3,271,453, and the net interest margin decreased to 2.86%. However, the company saw a provision recapture for loan losses of $662,572, a significant increase from $70,830 in 2021. Total assets increased by 5.2% to $494 million.
Surrey Bancorp announced key management promotions on March 31, 2022. Pedro A. Pequeno II has been promoted to President of the Company and Surrey Bank & Trust, overseeing loan operations, deposit operations, branch operations, digital banking, compliance, and lending. William A. Johnson has been appointed Senior Vice President and Chief Lending Officer, responsible for all lending activities. Both executives bring over 25 years of experience, aiming to leverage their expertise for the company's growth. CEO Ted Ashby remains in his role, continuing to guide the bank's strategy.
Surrey Bancorp (SRYB) reported Q4 2021 net income of $1,179,807 ($0.28 per share), down from $1,498,414 ($0.36 per share) in Q4 2020. This decline is attributed to an 11% drop in net interest income, primarily due to reduced loan origination fees from the PPP. The year-end net income increased to $5,103,575 ($1.22 per share), a rise of 11.5% compared to 2020, supported by a decreased provision for loan losses and lower noninterest expenses. Total assets rose to $480,535,388, with total deposits up 12.7% to $422,053,497, while net loans declined 3.1%.
The Board of Directors of Surrey Bancorp (SRYB) has declared a quarterly cash dividend of 10.5 cents ($0.105) per share on its common stock. This dividend is scheduled for payment on April 8, 2022, to shareholders of record as of March 18, 2022. CEO Ted Ashby emphasized that the decision reflects the Company’s solid operating results and strong financial condition, underscoring the commitment to shareholder value.
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