the little bank Announces Cash Dividend of $0.0750 Per Share and Continuation of Common Stock Repurchase
May 19 2014 - 12:31PM
Business Wire
the little bank (OTCBB: LTLB) announced that its Board of
Directors, on May 15, 2014, approved a semi-annual cash dividend of
$0.0750 per share on the Bank’s common stock. The dividend is
payable on June 30, 2014 to shareholders of record at the close of
business on June 13, 2014. Currently, 2,950,969 shares of common
stock are issued and outstanding.
The little bank also announced today that it has received
regulatory approval to continue its common stock repurchase plan
for an additional twelve months beginning June 1, 2014. The Company
will make purchases in the open market and as such the program is
available to shareholders on an equitable basis. Actual repurchases
will be subject to the availability of stock, general market
conditions, the trading price of stock, alternative uses for
capital and the Company’s financial performance.
Rob Jones, President and Chief Executive Officer, stated, “The
Board of Directors is pleased to continue the payment of
semi-annual cash dividends to shareholders. Management and the
Board of Directors will continue to evaluate potential stock
repurchases and execute on transactions that are believed to be
beneficial to shareholders. The semi-annual cash dividend and stock
repurchase program are a direct reflection of the strength of the
Bank’s performance, balance sheet and capital position.”
The little bank is headquartered in Kinston, North Carolina and
currently serves the Lenoir, Wayne, Onslow, Pitt, Craven and New
Hanover county markets. The Bank prides itself on the special care
with which it serves its customers. The Bank’s website is
www.thelittlebank.com. The little bank stock can be found on the
Over-the-Counter Electronic Bulletin Board trading under the symbol
LTLB.
the little bankDoyle M. Thigpen, Chief Financial
Officer252-317-2804
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