York Traditions Bank Declares Special Dividend

Rhea-AI Summary

The Board of Directors of York Traditions Bank (OTC Pink: YRKB) has announced a special cash dividend of 40 cents per share, payable on March 29, 2021. Shareholders of record as of March 15, 2021 will receive this dividend. President Eugene Draganosky stated that the dividend reflects the bank's strong financial performance in 2020 and acknowledges shareholder support. The bank operates six branches in Pennsylvania, with total assets of $641 million, and is committed to enhancing shareholder value and ongoing capital management.

Positive

• Declaration of a special cash dividend of 40 cents per share, indicating financial strength.
• Strong financial performance reported for 2020, supporting future growth prospects.
• Ongoing evaluation of dividend policy to enhance shareholder value.

Negative

• None.

YORK, Pa., March 1, 2021 /PRNewswire/ -- The Board of Directors of York Traditions Bank (OTC Pink: YRKB) is pleased to announce a special cash dividend of 40 cents per common share. The dividend will be paid on March 29, 2021 to shareholders of record at the close of business on March 15, 2021.

"With strong financial performance in 2020 and cautious optimism for 2021, this special one-time dividend affords us the opportunity to acknowledge the support of our shareholders and reward them for entrusting us with their investment," noted Eugene Draganosky, President and Chief Executive Officer. "The Bank 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, York Traditions Bank operates six full-service branch offices located in York and Hanover, as well as a loan production office in Lemoyne, Cumberland County. The Bank's seventh branch at 1687 Oregon Pike, Lancaster is currently under construction and set to open by May. With assets of $641 million and nearly 150 associates, York Traditions Bank provides depository and borrowing services to businesses and individuals located in south-central Pennsylvania. The Bank is the leading provider of residential mortgages in York County and has been a Bauer Financial recommended financial institution for more than a decade.

To learn more about York Traditions Bank, visit www.yorktraditionsbank.com.

SPECIAL CAUTIONARY NOTICE REGARDING FORWARD-LOOKING STATEMENTS:

This release contains forward-looking statements about York Traditions Bank 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 York Traditions Bank.

York Traditions Bank 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 bank'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 York Traditions Bank 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 York Traditions Bank

FAQ

What is the dividend amount announced by York Traditions Bank (YRKB)?

York Traditions Bank has announced a special cash dividend of 40 cents per share.

When will the dividend be paid to shareholders of York Traditions Bank (YRKB)?

The dividend will be paid on March 29, 2021.

Who is eligible to receive the dividend from York Traditions Bank (YRKB)?

Shareholders of record as of March 15, 2021, are eligible to receive the dividend.

What are the total assets of York Traditions Bank (YRKB)?

York Traditions Bank has total assets of $641 million.