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Calvin B. Taylor Bankshares, Inc. reports community-banking developments as the parent company of Calvin B. Taylor Bank. The bank, founded in 1890, provides loan, deposit, and ancillary banking services through physical and digital channels, with banking locations in Maryland, Delaware, and Virginia on the Delmarva Peninsula.
Recurring company news covers quarterly and annual financial results, loan and deposit activity, balance-sheet management, asset quality, and capital actions such as regular cash dividends and stock repurchases. Updates also include commercial lending expansion in Delaware markets and board-level governance changes at the bank holding company.
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Calvin B. Taylor Bankshares, Inc. (OTCQX:TYCB) announced a quarterly cash dividend of $0.33 per share, payable on April 17, 2023, to stockholders of record by the close of business on March 31, 2023. The company's President, Raymond M. Thompson, highlighted strong first-quarter earnings driven by a balanced investment portfolio and ongoing loan demand, alongside an interest rate increase by the Federal Reserve. Although economic concerns persist, the Board remains committed to delivering stable returns to shareholders.
Calvin B. Taylor Bankshares, Inc. (OTCQX:TYCB) reported a net income of $11.77 million for 2022, a 24.1% increase from $9.48 million in 2021. Fourth-quarter net income reached $3.09 million, up 44.3% compared to $2.14 million in 4Q21. Total loans increased by $78.2 million, or 18.0%, since December 31, 2021, contributing to overall strong performance. Driven by higher yields from loans and securities, net interest income rose 21.8% year-over-year. The Board declared a total dividend of $1.26 per share, marking an 8.6% increase from 2021. However, a 14.4% decline in noninterest income was noted, impacted by realized losses on debt securities.
Calvin B. Taylor Bankshares, Inc. (OTCQX:TYCB) has declared a quarterly cash dividend of $0.33 per share, payable on January 16, 2023, to stockholders of record as of December 30, 2022. The Board of Directors emphasized their commitment to delivering a consistent return on investment amidst financial market volatility, highlighting that the bank's asset mix has facilitated strong performance in the face of rising interest rates by the Federal Reserve. Established in 1890, Calvin B. Taylor Bank operates 12 locations on the eastern Delmarva Peninsula.