Huron Valley Bancorp, Inc. Increases Dividend 33%
Milford, Michigan Jack J. Shubitowski, President and CEO of Huron Valley Bancorp, Inc. (HVLM), the holding company for Huron Valley State Bank, announced that the Board of Directors has declared a dividend of eight cents (.08) per share, representing a 33% increase over last year's dividend of six cents (.06) per share. The dividend is payable March 16, 2016 to shareholders of record as of February 16, 2016. The Board, in declaring this dividend, has indicated that the bank has demonstrated consistent growth and strong profitability.
Huron Valley Bancorp, Inc.'s 2015 full year net income was $1,027,000 or $1.21 per share versus earnings for the same period last year of $720,000 or $0.85 per share, which represents a 42.4% increase. The Holding Company finished the year at $115,928,000 in total assets.
For further information on Huron Valley State Bank Stock please contact Jack J. Shubitowski or Sheri Miles at 248 684-9626.
Certain statements in this announcement contain forward-looking statements that are based on management's expectations, estimates, projections and assumptions. Words such as "expects," "anticipates," "plans," "believes," "scheduled," "estimates," and variations of these words and similar expressions are intended to identify forward-looking statements. Forwarding looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Therefore, actual future results and trends may differ materially from what is forecast in forward-looking statements due to a variety of factors.
All forward looking statements speak only as of the date of this press release. All subsequent written and oral forward-looking statements attributable to the company or any person acting on the Corporation's behalf are qualified by the cautionary statements in this press release. The Corporation does not undertake any obligation to update or publicly release any revisions to forward-looking statements to reflect events, circumstances or changes in expectations after the date of this press release.
Headquartered in Milford, Huron Valley Bancorp, Inc. is the parent company of Huron Valley State Bank. The Bank offers a full range of checking and savings accounts, certificates of deposit, consumer loans, commercial loans and other financial services. The Milford branch is located at 130 S. Milford Rd. in Milford.
Call (248) 684-9626. The Highland branch is located at 2920 E. Highland Rd. in Highland. Call (248) 887-9900. The common stock of Huron Valley Bancorp,Inc_ is listed on the NASDAQ Global Market System under the symbol "HVLM".