Peach State Bank & Trust declared an annual dividend this month reflecting a 20% increase from 2015.
Peach State stockholders of record as of June 14th, 2016, will be paid a return of $.06 per share on June 25, 2016, according to a press statement from the Gainesville-based bank. The dividend was approved by the bank’s board of directors at their June 14th meeting.
Peach State had a very good year in 2015 and 2016 is looking even better, the statement noted. Net earnings from operations, for the twelve months ended December 31, 2015, were $878,000. Net loans were $98.6 million at December 31, 2015. the statement said further a continued focus on customers and their banking needs resulted in deposits of $139.3 million at December 31, 2015.
“We are so proud of our success, our Board of Directors, our Community Development Board, Youth Development Board as well as our bank staff which now consists of 29 employees,” said Ron Quinn, president and CEO of Peach State Bank.
Peach State Bank & Trust is a locally owned and operated community bank in downtown Gainesville at 325 Washington Street. The bank has approximately $180 million in total assets.
