Sturgis Bancorp, Inc. Declares Quarterly Cash Dividend

Rhea-AI Summary

Sturgis Bancorp (OTCQX:STBI) has announced a quarterly cash dividend of $0.17 per common share, maintaining the highest dividend level in the company's history. The dividend will be paid on March 14, 2025, to stockholders of record as of February 14, 2025.

The company operates through its main subsidiary, Sturgis Bank & Trust Company, along with several other subsidiaries including Oakleaf Financial Services, Oak Mortgage, Ayres/Oak Insurance, and Oak Title Services. The bank provides comprehensive banking services across multiple locations in Michigan, offering trust, commercial, and consumer banking services, while its subsidiaries provide investment advisory, mortgage, insurance, and title services.

Positive

• Maintaining highest quarterly dividend level in company history at $0.17 per share
• Broad service diversification across banking, investment, mortgage, insurance, and title services
• Strong geographical presence with multiple banking centers across Michigan

Negative

• None.

STURGIS, MI / ACCESS Newswire / January 27, 2025 / Sturgis Bancorp, Inc. (OTCQX:STBI) today announced that its Board of Directors has declared a cash dividend of $0.17 per common share, payable March 14, 2025, to stockholders of record at the close of business on February 14, 2025. This declaration continues the quarterly dividend at the highest level in the Company's history.

About Sturgis Bancorp, Inc.

Sturgis Bancorp, Inc. is the holding company for Sturgis Bank & Trust Company (the Bank), and its subsidiaries: Oakleaf Financial Services, Oak Mortgage, Ayres/Oak Insurance, and Oak Title Services. The Bank provides a full array of trust, commercial, and consumer banking services from banking centers in: Sturgis, Bangor, Bronson, Centreville, Climax, Colon, Marshall, Niles, Portage, South Haven, St. Joseph, Three Rivers, and White Pigeon, Michigan. Oakleaf Financial Services offers a complete range of investment and financial-advisory services. Oakleaf Mortgage offers residential mortgages in all markets of the Bank. Ayres/Oak Insurance offers various competitive commercial and consumer insurance products. Oak Title Services offers commercial and consumer title insurance services.

For additional information and updates, visit our website at www.sturgis.bank.

Sturgis Bancorp, Inc. Contacts

• Jason J. Hyska, President & CEO, or Brian P. Hoggatt, CFO - (269) 651-9345

SOURCE: Sturgis Bancorp, Inc.

View the original press release on ACCESS Newswire

FAQ

What is the dividend amount announced by Sturgis Bancorp (STBI) for Q1 2025?

Sturgis Bancorp (STBI) announced a quarterly cash dividend of $0.17 per common share.

When is the payment date for STBI's latest dividend?

The dividend will be paid on March 14, 2025.

What is the record date for STBI's Q1 2025 dividend?

The record date for the dividend is February 14, 2025.

How does the current STBI dividend compare to historical payments?

The current quarterly dividend of $0.17 per share represents the highest dividend level in the company's history.

What services does Sturgis Bancorp (STBI) offer through its subsidiaries?

STBI offers banking, trust, investment advisory, mortgage, insurance, and title services through its subsidiaries including Sturgis Bank & Trust Company, Oakleaf Financial Services, Oak Mortgage, Ayres/Oak Insurance, and Oak Title Services.