CERRITOS, Calif.--(BUSINESS WIRE)--First Choice Bank (OTCQX: FCBK) announced that it has declared a 4% stock dividend on the Bank’s common shares outstanding. This represents the second stock dividend issued for the eleven-year-old bank and further evidence of the financial strength achieved during this post-recession period.
The Stock Dividend was approved by the Board of Directors in support of the Bank’s stable financial performance. Dividend shares will be distributed on July 22, 2016 to owners of record as of July 1, 2016. The dividend will be issued in the form of additional shares of stock. Any fractional shares will be rounded up to the next share of stock.
In addition, the Bank’s 2016 Annual Meeting of Shareholders will be held at the Cerritos Library-Skyline Room, 18025 Bloomfield Avenue, Cerritos, California on August 4, 2016. The record date for determination of shareholders entitled to vote at the annual meeting will be June 10, 2016. The purpose of the annual meeting will be the election of directors.
ABOUT FIRST CHOICE BANK
First Choice Bank, headquartered in Cerritos, California is a community focused financial institution, serving diverse consumers and commercial clients and specializing in loans to small businesses, Private Banking clients, Commercial and Industrial (C&I) loans, and commercial real estate loans with a niche in providing finance for the hospitality industry. The Bank is a Preferred Small Business Administration (SBA) Lender. Founded in 2005, First Choice Bank has quickly become a leading provider of financial services that enable our customers to grow, maintain strength, and reach unprecedented levels of success. We strive to surpass our clients' expectations through our efficiency and professionalism and are committed to being "First in Speed, Service, and Solutions." First Choice Bank stock is traded on the Over the Counter (OTCQX); our Ticker Symbol is FCBK.
The Bank's web site is www.FirstChoiceBankCA.com.
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.