TAYLOR(CLVN B)BKG BRLN MD - TYCB STOCK NEWS

Calvin B. Taylor Bankshares, Inc. (OTCQX:TYCB) has declared a quarterly cash dividend of $0.33 per share, payable on January 16, 2023, to stockholders of record as of December 30, 2022. The Board of Directors emphasized their commitment to delivering a consistent return on investment amidst financial market volatility, highlighting that the bank's asset mix has facilitated strong performance in the face of rising interest rates by the Federal Reserve. Established in 1890, Calvin B. Taylor Bank operates 12 locations on the eastern Delmarva Peninsula.

Calvin B. Taylor Bankshares, Inc. (OTCQX:TYCB) has elected Thomas K. Coates as Chair of its Board of Directors as of December 19, 2022. Mr. Coates, who joined the Board in 2014, has a robust legal and accounting background, enhancing his suitability for the role. He has held various leadership positions in the community, contributing significantly to local organizations. CEO Raymond M. Thompson highlighted Coates' understanding of community banking and his leadership abilities as essential for aligning with stockholder expectations as the bank moves forward.

Calvin B. Taylor Bankshares, Inc. (OTCQX:TYCB) reported a net income of $3.71 million for 3Q22, up 38.7% from $2.67 million in 3Q21, driven by a 24% increase in net interest income due to strong loan demand. For the nine months ended September 30, 2022, net income rose 18.3% to $8.68 million. Average deposits grew by 18.3% compared to the prior year. The net interest margin improved to 3.14% from 2.76% in 3Q21. However, the provision for loan losses increased due to loan growth, though credit quality remains strong.

Calvin B. Taylor Bank announced the sudden passing of Hale Harrison, its long-time Board Chair, on October 17, 2022. Mr. Harrison, a board member since 1975, was instrumental in the bank's operations and a respected leader in the Ocean City tourism industry. His contributions included chairing the Executive Compensation Committee and serving on the Governance Committee. President Raymond M. Thompson expressed deep gratitude for Harrison's leadership, highlighting his business acumen and dedication to the bank and its employees. Calvin B. Taylor Bank operates across the Delmarva Peninsula.

Calvin B. Taylor Bankshares, Inc. (OTCQX:TYCB) has announced a quarterly cash dividend increase to $0.33 per share, marking a 10% rise from the previous quarter. The dividend will be payable on October 14, 2022, to stockholders of record by the close of business on September 30, 2022. The company's President and CEO, Raymond M. Thompson, stated that this increase demonstrates the Board's commitment to enhancing shareholder returns despite prevailing economic uncertainties. The bank operates across the eastern coastal area of the Delmarva Peninsula.

Calvin B. Taylor Bankshares reported a net income of $2.68 million for 2Q22, a 29.5% increase from 2Q21 and exceeding 1Q22's $2.29 million. Year-to-date net income reached $4.97 million, up 6.5% year-over-year. Loan growth surged by $25 million (5.4%) since March 31, 2022, with net interest income rising 21.2% YoY. The net interest margin improved to 2.82%, along with strong asset growth of 10.3%. However, provisions for loan losses increased 80% over the prior year, highlighting potential credit risks amid economic uncertainty.

Calvin B. Taylor Bankshares (OTCQX:TYCB) has declared a quarterly cash dividend of $0.30 per share, payable on July 15, 2022, to stockholders of record as of June 30, 2022. This decision reflects the bank's ongoing commitment to return value to its shareholders. The bank operates 12 locations across the eastern Delmarva Peninsula, offering a variety of banking services. The dividend demonstrates confidence in the bank's financial health and operational performance, an essential factor for investors looking at long-term returns.

Calvin B. Taylor Bankshares, Inc. (OTCQX: TYCB) reported net income of $2.29 million for 1Q22, down 11.8% from $2.60 million in 1Q21. The decline was primarily due to a $346 thousand decrease in income from bank-owned life insurance. Despite this, the bank saw organic loan growth of 6.8% since December 2021 and a 3.9% increase in net interest income to $5.27 million. Total assets surged 20.5% year-over-year to $905.2 million. The quarterly dividend rose 3.45% to $0.30 per share.

Calvin B. Taylor Bankshares, Inc. (OTCQX: TYCB) has declared a quarterly cash dividend of $0.30 per share, representing a 3.45% increase from the previous quarter. This dividend will be paid on April 15, 2022, to stockholders on record as of March 31, 2022. Established in 1890, Calvin B. Taylor Bank provides a variety of banking services across 12 locations in the Delmarva Peninsula, encompassing Worcester County, Maryland, Sussex County, Delaware, and Accomack County, Virginia.