(SCVBank; OTC BB: SCVE.OB) today announced a cash dividend of $.10 per share payable January 20, 2009 to shareholders of record as of December 26, 2008. This is SCVBank’s first dividend declaration.
Chairman Guy Cole remarked, “We are very proud to SCVBank Announces Dividend be able to announce a dividend
at this time. The dividend represents the board’s gratitude to our shareholders for their loyalty and commitment and reaffirms the strength of the Bank’s capital position. While so many other financial institutions have either failed, or cut back their dividends, the approval of a new dividend reflects SCV Bank’s long-term strategy
of providing conservative, relationship-based credit.” Michael D. Hause, President and CEO stated, “The dividend goes hand-in-hand with our Five-Star “Superior” performing bank rating by BauerFinancial, Inc. At yearend 2008, the Bank’s assets were $121.0 million”.