PB Financial Corporation Declares Second-Quarter, 2025 Dividend

Rhea-AI Summary

PB Financial Corporation (OTCQX:PBNC) has announced a quarterly cash dividend increase of 9.43% to $0.58 per share, payable on May 23, 2025, to shareholders of record as of May 8, 2025. This marks their 54th consecutive quarterly dividend, representing an annualized dividend of $2.32 per share with a yield of 4.99%.

A significant milestone was highlighted by CEO Ted E. Whitehurst: original shareholders have now received $11.17 per share in total dividends, exceeding their initial $11.00 investment. The company has consistently increased dividends every quarter since 2012.

Key Financial Metrics as of March 31, 2025:

• Total Assets: $1.355 billion
• Total Loans: $1.149 billion
• Total Deposits: $1.153 billion

Providence Bank, the company's subsidiary, operates from its Rocky Mount headquarters with branches across North Carolina, including Tarboro, Nashville, Wilson, Raleigh, Jacksonville, Holly Ridge, Morehead City, Richlands, and a loan production office in New Bern.

ROCKY MOUNT, NC / ACCESS Newswire / April 28, 2025 / Ted E. Whitehurst, President and CEO of PB Financial Corporation (OTCQX:PBNC), the holding company for Providence Bank, announced today that the Board of Directors approved a quarterly cash dividend of $0.58 per share on common stock outstanding to shareholders of record at the close of business on May 8, 2025. The dividend is payable on May 23, 2025. This is an increase of approximately 9.43% from the dividend paid during the 2^nd quarter of 2024. This represents a $2.32 per share dividend on an annualized basis and a dividend yield of approximately 4.99% (based on closing price on April 25, 2025 of $46.50 per share).

Whitehurst commented, "This marks our 54^th consecutive quarterly cash dividend - a clear reflection of our strong and consistent financial performance. Since initiating cash dividends in early 2012, we have increased the dividend every quarter. With this latest dividend, our original shareholders have received $11.17 per share in cash dividends, which has now surpassed their initial $11.00 per share investment. This milestone highlights our unwavering focus on shareholder value and distinguishes Providence from other community banks."

Providence Bank is a state-chartered community bank headquartered at 450 N. Winstead Avenue in Rocky Mount, North Carolina, with branches in Rocky Mount, Tarboro, Nashville, Wilson, Raleigh, Jacksonville, Holly Ridge, Morehead City, Richlands and a loan production office in New Bern. As of March 31, 2025, PB Financial Corporation had total assets of $1.355 billion, loans of $1.149 billion and total deposits of $1.153 billion.

www.pbknc.com

This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding PB Financial Corporation. Those statements may include but are not limited to statements regarding the Company's plans, objectives, expectations and intentions and other statements identified by words such as "believes," "considers," "expects," "anticipates," "estimates," "intends," "plans," "targets," "projects," "would be," and similar expressions. These statements are based upon current beliefs and expectations of management of PB Financial Corporation and are subject to significant risks and uncertainties. Actual or future results or events may differ from those set forth in the forward-looking statements. PB Financial Corporation does not undertake to update any forward-looking statements in this press release. The information as of and for the quarter ended March 31, 2025 as presented is unaudited.

For more information, contact: April 28, 2025
Ted E. Whitehurst, President and CEO
252-467-2990; twhitehurst@pbknc.com

SOURCE: PB Financial Corp

View the original press release on ACCESS Newswire