Victory Bancorp, Inc. Declares Special Dividend

Rhea-AI Summary

The Victory Bancorp, Inc. (OTCQX:VTYB) has declared a special cash dividend of $0.10 per share, payable on December 14, 2021, to shareholders of record by November 29, 2021. Chairman Joseph Major stated that this decision reflects the bank's strong financial position and confidence in its future, despite challenges faced over the past two years. The Victory Bank, based in Pennsylvania, specializes in providing banking services to small and mid-sized businesses.

Positive

• Declared a special cash dividend of $0.10 per share, demonstrating financial strength.
• Confidence expressed by management reflects potential business growth opportunities.

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• None.

LIMERICK, Pa., Nov. 18, 2021 (GLOBE NEWSWIRE) -- Victory Bancorp, Inc. (OTCQX:VTYB) today announced that its Board of Directors has declared a one-time, special cash dividend of $0.10 per outstanding share of common stock. The dividend will be paid on or about December 14, 2021, to stockholders of record as of the close of business on November 29, 2021.

Joseph Major, Chairman, and CEO commented, “Despite the many challenges faced by banks, and all businesses, over the past two years, we are pleased to be able to declare this special cash dividend to the shareholders, reflecting The Victory Bancorp’s strong financial position and confidence in our financial future. We believe we have considerable opportunities to look forward to in 2022 based on the talent and dedication of our talented team of bankers.”   

The Victory Bancorp, Inc. is traded on the OTCQX market under the symbol VTYB (https://www.otcmarkets.com/) and is the parent company of The Victory Bank, a Pennsylvania state-chartered commercial bank, headquartered in Limerick, Pennsylvania, which is located just outside the Philadelphia market in Montgomery County. The Victory Bank was established in 2008 as a specialized business lender that provides high-quality banking services to small and mid-sized businesses and professionals through its two offices located in Montgomery and Berks Counties, Pennsylvania.

Additional information about The Victory Bancorp is available on its website, VictoryBank.com.

Contact:
Joseph W. Major,
Chairman and Chief Executive Officer
484-791-3407

FAQ

What is the dividend amount declared by Victory Bancorp (VTYB)?

The declared dividend is $0.10 per share.

When will the dividend be paid to shareholders of Victory Bancorp (VTYB)?

The dividend will be paid on or about December 14, 2021.

What is the record date for the dividend of Victory Bancorp (VTYB)?

The record date for the dividend is November 29, 2021.

What does the dividend declaration indicate about Victory Bancorp's financial health?

The dividend indicates a strong financial position and confidence in future growth.