ROWLAND HEIGHTS, Calif.--(BUSINESS WIRE)--First General Bank, Rowland Heights, announced that its Board of Directors declared a cash dividend of $0.35 (thirty five cents) per common share, payable on January 3, 2014, to stockholders of record at the close of business on December 18, 2013.
“This is First General Bank’s third consecutive annual cash dividend in the Bank’s young history,” noted President and Chief Executive Officer Cliff Hsu. “The Bank continued to achieve record earnings in 2013. Our strong balance sheet and positive profitability outlook allow us to provide an increase of dividend payment by 40%, as compared to last year, while also preserving financial and operational resources to grow the Bank, and enhancing value for shareholders.”
About First General Bank
First General Bank, founded in 2005, had total assets of approximately $520 million as of December 31, 2013. First General Bank is headquartered in Rowland Heights, California, with branches in Arcadia, Irvine, Rowland Heights, and San Gabriel, California. First General Bank focuses on personalized service, combined with a full range of conventional and online core consumer and commercial banking products and cash management services for small to medium sized businesses and individuals residing or doing business in southern California. In 2011, First General Bank completed the merger and acquisition of American Premier Bank (Jan., 2011) and Golden Security Bank (Aug., 2011).
Forward Looking Statements
This document contains forward-looking statements that involve risks, uncertainties and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including any projections of synergies, accretion or other financial items; any statements of the plans, strategies, and objectives of management for future operations; any statements regarding future economic conditions or performance; any statements of belief and any statements of assumptions underlying any of the foregoing.
Readers are cautioned not to unduly rely on forward-looking statements. Actual results may differ from those projected. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances.