CERRITOS, Calif.--(BUSINESS WIRE)--First Choice Bank, the “Bank” (OTCQX: FCBK), is pleased to report that on April 27, 2017, its Board of Directors, the “Board”, declared a $0.20 cash dividend, payable on May 31, 2017, to shareholders of record on May 15, 2017.
The dividend is the second this year of the Bank's new quarterly cash dividend program that commenced in January 2017, which is the result of the Bank's strong ongoing financial performance and significant capital strength. This quarter's cash dividend follows a previous $0.20 per share cash dividend paid on February 24, 2017 of this year, previous special $0.11 and $0.20 per share annual cash dividends paid in 2013 and 2014, respectively, and 4% stock dividends paid in 2015 and 2016.
The Bank expects to issue a press release on Monday, May 1, 2017, with the unaudited results for the first quarter of 2017.
Forward Looking Statements
Except for the historical information in this news release, the matters described herein contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and are subject to risks and uncertainties that could cause actual results to differ materially. Such risks and uncertainties include: the credit risks of lending activities, including changes in the level and trend of loan delinquencies and charge-offs, results of examinations by our banking regulators, our ability to maintain adequate levels of capital and liquidity, our ability to manage loan delinquency rates, our ability to price deposits to retain existing customers and achieve low-cost deposit growth, manage expenses and lower the efficiency ratio, expand or maintain the net interest margin, mitigate interest rate risk for changes in the interest rate environment, competitive pressures in the banking industry, access to available sources of credit to manage liquidity, the local and national economic environment, and other risks and uncertainties. Accordingly, undue reliance should not be placed on forward-looking statements. These forward-looking statements speak only as of the date of this release. First Choice Bank undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date of this release or to reflect the occurrence of unanticipated events. Investors are encouraged to read the First Choice Bank annual reports which are available on our website.