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American National Bankshares Inc. (NASDAQ: AMNB) has declared a quarterly cash dividend of $0.27 per common share, payable on March 19, 2021, to shareholders of record on March 5, 2021. This dividend matches the prior quarter's amount and represents a yield of approximately 3.7% based on the stock's closing price of $29.43 on February 12, 2021. The company, headquartered in Danville, Virginia, manages about $3.1 billion in total assets and $976 million in trust, investment, and brokerage assets.
American National Bankshares Inc. (NASDAQ: AMNB) reported fourth quarter 2020 earnings of $8.8 million, or $0.80 per diluted share, marking an 18.2% increase year-over-year. Annual earnings reached $30.0 million, a 43.7% growth from 2019. Average deposits grew 4.2% quarter-over-quarter and 22.7% year-over-year, with total revenue surpassing $100 million for the year. However, net interest margin decreased to 3.22%. The loan loss provision was significantly lower at $585 thousand, reflecting strong asset quality. The tangible book value rose to $22.47 per share, indicating continued financial stability.
American National Bank and Trust Company has officially opened a new office in Raleigh, North Carolina, located at 3700 Glenwood Avenue. This expansion aligns with their 2019 plans to penetrate the Raleigh market. The 3,640 square-foot office will host a dedicated team of local commercial relationship managers. With a history dating back to 1909, American National now operates 26 locations across Virginia and North Carolina, and manages approximately $2.9 billion in total assets.
American National Bankshares (NASDAQ: AMNB) has authorized the repurchase of up to 350,000 shares of its outstanding common stock through December 31, 2021. The repurchases can occur via open market purchases or privately negotiated transactions, with the actual timing and pricing at management's discretion. This strategy aims to enhance shareholder value amidst varying market conditions. American National's total assets are approximately $2.9 billion, indicating a strong financial position.
American National Bank and Trust Company has appointed Lutheria Smith as the new Senior Vice President and Chief Human Resources Officer. This decision aligns with the bank's strategic priorities to enhance workplace culture and employee retention. Jeffrey V. Haley, President and CEO, expressed confidence in Smith's expertise to improve the bank's human resources sector. Smith, who previously served at Draper Aden Associates, is excited to join a community bank focused on its people. American National Bank operates in Virginia and North Carolina, managing approximately $2.9 billion in assets.
American National Bankshares Inc. (NASDAQ: AMNB) has declared a quarterly cash dividend of $0.27 per share, consistent with the previous quarter. This dividend will be payable on December 18, 2020, to shareholders recorded by December 4, 2020. Based on the stock's closing price of $28.54 on November 16, 2020, the dividend yields approximately 3.8%. American National holds total assets around $2.9 billion and serves Virginia and North Carolina through 25 banking offices.
American National Bankshares Inc. (NASDAQ: AMNB) reported third quarter 2020 earnings of $7.2 million, or $0.66 per diluted share, down from $8.7 million, or $0.78 per share in Q3 2019. Year-to-date earnings reached $21.3 million, up from $13.5 million in 2019. Key metrics include a return on average assets of 1.01% and a net interest margin of 3.26%. Average deposits grew 4.7% during the quarter, while noninterest income increased by 11.9%. The company maintained strong capital and credit quality, with nonperforming assets stable at 0.16%.
American National Bankshares Inc. (NASDAQ: AMNB) announced a management transition with Edward C. Martin being appointed as Chief Administrative Officer, a new role, while Mark A. Smith will become the Chief Credit Officer. Martin, with over 25 years in community banking, has been with the company since 2016, and Smith has extensive experience in bank lending. This restructuring aims to enhance strategic oversight across the bank's operations as it continues to manage approximately $2.9 billion in assets.
On July 23, 2020, American National Bankshares (NASDAQ: AMNB) reported Q2 2020 earnings of $5.5 million ($0.50 per share), a turnaround from last year's net loss of $1.2 million. Year-to-date earnings reached $14.0 million, significantly higher than $4.8 million in 2019. The bank's loan portfolio expanded by $247 million, driven by PPP participation, totaling $272 million in loans. However, net interest margin declined to 3.22%, and noninterest income fell by 14.7%. Loan loss provisions increased to $4.8 million amid economic uncertainty, but credit quality indicators remained stable.
American National Bankshares Inc. (NASDAQ: AMNB) has declared a quarterly cash dividend of $0.27 per common share, scheduled for payment on September 18, 2020, to shareholders on record as of September 4, 2020. This dividend mirrors the previous quarter’s amount. Based on the stock's closing price of $23.64 on July 21, 2020, the dividend yield stands at approximately 4.6%. Headquartered in Danville, Virginia, American National manages assets totaling around $2.5 billion across its 26 banking offices in Virginia and North Carolina.
