Touchstone Bankshares Announces Increase in Annual Cash Dividend
Touchstone Bankshares, Inc. (the "Company") (OTC Pink: TSBA), announced today the Board of Directors has declared an annual cash dividend of $0.32 per share for Touchstone Bankshares, Inc. common and preferred shareholders of record as of January 6, 2023, payable January 20, 2023. This represents an increase $0.02 per share or 6.7% over the prior year.
James R. Black, the Company's President and CEO stated, "With the solid performance in 2022 and confidence in our business, we are pleased to announce this dividend increase for our loyal shareholders. We appreciate our shareholders support and investment in our growing community bank."
Touchstone Bankshares, Inc. is the bank holding company for Touchstone Bank. Most the Company's business activities are conducted through Touchstone Bank. Touchstone Bank is a full-service community bank headquartered in Prince George, Virginia. The Bank has ten branches serving Southern and Central Virginia and two branches and two loan centers serving Northern North Carolina. Visit www.touchstone.bank for more information.
In addition to historical information, this press release may contain certain forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. For this purpose, any statement that is not a statement of historical fact may be deemed to be a forward-looking statement. Forward-looking statements are subject to numerous assumptions, risks and uncertainties, and actual results could differ materially from historical results or those anticipated by such statements. Factors that may cause actual results to differ materially from those contemplated by such forward-looking statements include, but are not limited to, the impacts of the ongoing COVID-19 pandemic; changes in interest rates and general economic conditions; the legislative/regulatory climate; monetary and fiscal policies of the U.S. Government; the quality or composition of the loan or investment portfolios; demand for loan products; deposit flows; competition; demand for financial services in the Company's market area; mergers, acquisitions and dispositions; implementation of new technologies and the ability to develop and maintain secure and reliable electronic systems; and tax and accounting rules, principles, policies and guidelines.