Peach State Bancshares, Inc., parent company of Gainesville's Peach State Bank & Trust, announces a $.07 cent per share dividend for its stockholders, representing the third consecutive annual dividend increase since 2015.
The dividend, payable to stockholders of record as of June 5, 2017, was approved by Peach State’s Board of Directors at their April meeting.
“The payout of our dividend reflects solid balance sheet growth in core deposits and loans at Peach State, in addition to our positive outlook for the near future,” said Ron Quinn, president and CEO of Peach State Bancshares. “We are well-positioned as the largest independent community bank in Gainesville-Hall County.”
For the 12 months ending December 31, 2016, Peach State Bank recorded pre-tax earnings of over $1.7 million. Total shareholders’ equity increased to $16.4 million or $7.05 per share on December 31, 2016, compared to $15.5 million or $6.67 per share on December 31, 2015.