A cash dividend of $2.90 per share, from CBBC/Citizens Bank of Blount County’s parent company Twin Cities Financial Services, has been declared by the bank’s board of directors to shareholders of record as of November 13, 2007. The announcement was made by Joe Bruce, president and CEO.
“Due to the bank’s continued historical record of strong earnings and sound financial condition, this is the 32nd consecutive year that CBBC has declared a cash dividend; and we are greatly appreciative of our shareholder’s support as we continue our tradition of remaining a strong, independent, community bank. This dividend, up from last year’s $2.60 per share, continues to illustrate the value and spirit of the community bank.
“The bank is having another record-breaking year. Our asset quality, overhead, efficiency, and return on assets continue to perform exceptionally well. We are proud to continue our streak of 136 quarters of profitability, and are greatly appreciative of the support of Blount County’s locally owned and headquartered bank. We remain committed to our fundamental philosophy of quality service to our customers, ongoing financial soundness and safety, and profitability in managing shareholders’ investment for growth in value,” said Bruce.