Potomac Bancshares, Inc. Increases Quarterly Dividend
The Board of Directors of Potomac Bancshares, Inc. (OTC: PTBS), the parent company for Bank of Charles Town, also recognized as The Community's Bank, made an important announcement regarding its financial performance. During their recent meeting, they declared a quarterly cash dividend of $0.13 per share, marking an 8% increase over the previous quarter's dividend of $0.12. This increase underscores the company's commitment to enhancing shareholder value.
Details of the Dividend Payment
The declared dividend will be available to all shareholders on record as of May 1, and payments will be distributed on May 8. Alice P. Frazier, President and CEO, expressed satisfaction with the company's ongoing success in providing benefits to shareholders. The decision of the Board reflects the strong financial position of the institution, which continues to focus on growth and stability.
About Bank of Charles Town
Established in 1871, the Bank of Charles Town operates as a wholly owned subsidiary of Potomac Bancshares, Inc. (OTC: PTBS). The bank has made its mark in the community with approximately $877 million in assets by the end of the previous year. It has a robust operation network, including its main office, eight additional branches, and two loan production outlets. The bank provides a variety of lending services ranging from commercial lines and construction loans to agricultural funding.
Wealth Management and Banking Services
In addition to its lending capabilities, the Bank of Charles Town also excels in trust and wealth management services through BCT Wealth Advisors, which has been providing tailored support for estates and investments for over seven decades. The bank also prioritizes modern banking conveniences, offering online and mobile banking options to both individual customers and businesses. The bank boasts free access to over 55,000 ATMs, which enhances banking accessibility for the community.
Acknowledgments and Milestones
The Bank has received numerous accolades, highlighting its reputation within the industry. In recent years, it was recognized in the LoudounNow readers' poll as the winner in multiple categories including Bank, Mortgage Company, and Financial Planner. Moreover, American Banker listed the bank among the "Top 200 Community Banks" in the country, emphasizing its strong community presence and superior performance in the banking sector.
Conclusion
Potomac Bancshares, Inc. and the Bank of Charles Town continue to demonstrate their commitment to their shareholders and the community through consistent growth, innovative services, and a dedication to providing exceptional value. As they navigate through the changing financial landscape, their focus remains on transparency and shareholder engagement, promising an even brighter future.
Frequently Asked Questions
What is the new dividend amount declared by Potomac Bancshares?
The Board declared a quarterly cash dividend of $0.13 per share, which represents an 8% increase from the previous dividend of $0.12.
What are the important dates related to the dividend payment?
Shareholders of record as of May 1 are eligible for the dividend, which will be paid on May 8.
What services does the Bank of Charles Town offer?
The bank offers a variety of services including commercial loans, residential and commercial construction loans, and agricultural loans, as well as trust and wealth management through BCT Wealth Advisors.
How has Potomac Bancshares been recognized in recent years?
Potomac Bancshares and the Bank of Charles Town have received accolades in multiple categories, including being named a top community bank by American Banker and winning reader's choice awards.
Where can more information about Potomac Bancshares be found?
For more details, you can visit their official website, www.mybct.bank, which provides additional information regarding their services and updates.
