This dividend payment and our high capital levels allow PCBB to further its commitment to provide a superior return to our shareholders while preserving our financial strength.
Walnut Creek, CA (PRWEB) May 22, 2014
The Board of Directors of Pacific Coast Bankers’ Bancshares (“PCBB”), parent company of Pacific Coast Bankers’ Bank (“Bank”) and PCBB Capital Markets, has declared a cash dividend of $1.35 per common share. The dividend is payable on June 30, 2014 to shareholders of record as of the close of business on June 25, 2014.
Steve Brown, president and chief executive officer, stated, “In light of our earnings and strong capital levels, PCBB is pleased to announce this cash dividend. The dividend constitutes a payout ratio of about 57% for the six month period ended March 31, 2014.” Brown continued, “With the Bank’s total risk-based capital over 27%, we also remain very well positioned from a capital perspective to take advantage of potential strategic opportunities that may arise. This dividend payment and our high capital levels allow PCBB to further its commitment to provide a superior return to our shareholders while preserving our financial strength.”
Pacific Coast Bankers' Bancshares is the holding company for Pacific Coast Bankers' Bank and PCBB Capital Markets, LLC which provides an array of financial services focused on the needs of community banks. PCBB provides loan participations, cash management, federal funds, consulting and bank organizational services. PCBB Capital Markets provides a wide range of financial and consulting solutions and is a member of FINRA/SIPC. As a community bank-owned entity, Bancshares' subsidiaries provide its clients with exceptional service, delivered by an innovative team of financial professionals. Securities are offered through PCBB Capital Markets, LLC.
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This press release contains statements that constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The words "believe," "estimate," "expect," "intend," "anticipate," "plan" and similar expressions and variations thereof identify certain of such forward-looking statements which speak only as of the dates on which they were made. Pacific Coast Bankers’ Bancshares ("PCBB") undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those indicated in the forward-looking statements as a result of various factors. Such factors include, but are not limited to competition, general economic conditions, potential changes in interest rates, and changes in the value of real estate securing loans made by Pacific Coast Bankers’ Bank (the "Bank"), a subsidiary of Pacific Coast Bankers’ Bancshares. Additional information concerning factors that could cause actual results to materially differ from those in the forward-looking statements is contained in the Company's filings with the Federal Reserve Board.