Traditions Bancorp Announces Regular Quarterly Dividend

Rhea-AI Summary

Traditions Bancorp (OTC Pink: TRBK) announced its first quarterly dividend of eight cents per share, payable on May 13, 2022, to shareholders of record on May 3, 2022. The announcement follows strong financial performance in 2021, marking the company's commitment to returning value to shareholders as it approaches its 20th anniversary. With assets of $749 million as of December 31, 2022, Traditions Bank is dedicated to growing shareholder value and continues to assess its dividend policy for proactive capital management.

Positive

• Initiating a quarterly dividend of 8 cents per share.
• Strong financial performance in 2021.
• Commitment to growing shareholder value.
• Positive outlook as the company approaches its 20th anniversary.

Negative

• None.

YORK, Pa., April 19, 2022 /PRNewswire/ -- Traditions Bancorp (OTC Pink: TRBK), parent company of Traditions Bank, is pleased to announce its first quarterly dividend of eight cents per common share. The dividend will be paid on May 13, 2022 to shareholders of record at the close of business on May 3, 2022.

"With strong financial performance in 2021 and moving into our 20^th anniversary year, we are pleased to distribute a portion of profits and begin to pay a regular quarterly dividend," noted Eugene Draganosky, President and Chief Executive Officer. "The Company is committed to growing shareholder value, and the Board continues to evaluate its dividend policy as part of proactive capital management. We truly appreciate the loyalty of our shareholders throughout the years as we grow to serve our communities."

Formed in 2002 with administrative headquarters in York, Pennsylvania, Traditions Bank operates seven full-service branch offices located in York, Hanover, and Lancaster, as well as a loan production office in Lemoyne, Cumberland County. With assets of $749 million as of December 31, 2022 and 170 associates, Traditions Bank provides depository and borrowing services to businesses and individuals located in south-central Pennsylvania. The Bank is a leading provider of residential mortgages and has been a Bauer Financial recommended financial institution for more than a decade.

To learn more about Traditions Bancorp, visit www.traditionsbancorp.com.

SPECIAL CAUTIONARY NOTICE REGARDING FORWARD-LOOKING STATEMENTS:

This release contains forward-looking statements about Traditions Bancorp, Inc. that are intended to be covered by the safe harbor for forward-looking statements provided by the Private Securities Litigation Reform Act of 1995.  Forward-looking statements are not historical facts.  These statements can be identified by the use of forward-looking terminology such as "believe," "expect," "may," "will," "should," "project," "plan," "seek," "intend," "anticipate" or similar terminology.  Such forward-looking statements include, but are not limited to, discussions of strategy, financial projections and estimates and their underlying assumptions; statements regarding plans, objectives, goals, expectations or consequences; and statements about future performance, operations, products and services of Traditions Bancorp.

Traditions Bancorp cautions readers not to place undue reliance on forward-looking statements and to consider possible events or factors that could cause results or performance to materially differ from those expressed in the forward-looking statements, including, but not limited to:  ineffectiveness of the organization's business strategy due to changes in current or future market conditions; the effects of competition, and of changes in laws and regulations on competition, including industry consolidation and development of competing financial products and services; interest rate movements; difficulties in integrating distinct business operations, including information technology difficulties; challenges in establishing and maintaining operations in new markets; volatilities in the securities markets; and deteriorating economic conditions.

Forward-looking statements in this release speak only as of the date of this release and Traditions Bancorp makes no commitment to review or update such statements to reflect changes that occur after the date the forward-looking statement was made.

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SOURCE Traditions Bancorp, Inc.

FAQ

What is the dividend amount announced by Traditions Bancorp?

Traditions Bancorp announced a quarterly dividend of 8 cents per share.

When will the dividend be paid by Traditions Bancorp?

The dividend will be paid on May 13, 2022.

When is the record date for Traditions Bancorp's dividend?

The record date for the dividend is May 3, 2022.

What were Traditions Bancorp's total assets as of December 31, 2022?

Traditions Bancorp reported total assets of $749 million as of December 31, 2022.

How does Traditions Bancorp plan to manage its capital?

The Board of Traditions Bancorp continues to evaluate its dividend policy as part of proactive capital management.