Jeffersonville Bancorp Announces Special Dividend of $0.25 per share

Rhea-AI Summary

Jeffersonville Bancorp (OTCQB: JFBC) has declared a special cash dividend of $0.25 per share on January 14, 2025. The dividend will be paid on February 5, 2025, to stockholders of record as of January 29, 2025.

The company attributes its exceptional 2024 performance to higher loan interest income, solid credit quality, and low core funding costs. According to CEO George W. Kinne, Jr., these peer-leading results have enabled significant capital accumulation, allowing the board to reward loyal shareholders with this special dividend.

Jeffersonville Bancorp operates as a one-bank holding company owning Jeff Bank, which maintains ten full-service branches across Sullivan and Orange County, New York.

Positive

• Announcement of special cash dividend of $0.25 per share
• Exceptional performance in 2024
• Higher loan interest income
• Strong credit quality metrics
• Low core funding costs
• Significant capital accumulation
• Peer-leading results

Negative

• None.

JEFFERSONVILLE, N.Y., Jan. 14, 2025 (GLOBE NEWSWIRE) -- Jeffersonville Bancorp, Inc. (OTCQB - JFBC) announced today that a special cash dividend in the amount of twenty-five cents ($0.25) per share on the common stock of the company was declared at the January 14, 2025 meeting of the Board of Directors. The dividend is payable on February 5, 2025 to stockholders of record at the close of business on January 29, 2025.

“The Company had another exceptional year in 2024 due to higher loan interest income, solid credit quality, and low core funding costs. The Company’s peer leading results have allowed us to accrete a significant amount of capital,” said George W. Kinne, Jr., President and CEO. “The Board of Directors is pleased that with our positive results and strong capital position, they are able to reward our loyal shareholders with this special cash dividend.”

Jeffersonville Bancorp is a one-bank holding company, which owns all the capital stock of Jeff Bank. Jeff Bank maintains ten full-service branches in Sullivan and Orange County, New York located in Anawana Lake Road/Monticello, Eldred, Callicoon, Jeffersonville, Liberty, Livingston Manor, Monticello, Port Jervis, White Lake, and Wurtsboro.

For More Information, call: 845-482-4000

Contact: George W. Kinne, Jr., President – CEO

FAQ

When will JFBC pay its special dividend of $0.25 per share?

JFBC will pay the special dividend of $0.25 per share on February 5, 2025, to stockholders of record as of January 29, 2025.

What factors contributed to JFBC's exceptional performance in 2024?

JFBC's exceptional performance in 2024 was attributed to higher loan interest income, solid credit quality, and low core funding costs.

How many branches does Jeff Bank operate and where are they located?

Jeff Bank operates ten full-service branches across Sullivan and Orange County, New York.

What was the reason behind JFBC's special dividend declaration in January 2025?

JFBC declared the special dividend due to its strong capital position and positive results, allowing the company to reward loyal shareholders.