Thomasville Bancshares Inc., the holding company of Thomasville National Bank and TNB Financial Services announced a two-for-one stock split and an increase in its dividend for the 13th consecutive year at the annual shareholders’ meeting held Tuesday.
In announcing the dividend, which increased 7 percent from $.75 to $.80 per share, the company’s CEO, Stephen H. Cheney, stated, “We are very pleased that our bank’s strong financial performance allows us to increase our dividend.”
Cheney continued, “Over the last 18 years, the support of this community, our shareholders and customers have made our bank extremely successful. We are very pleased to share the earnings of the company with the people that made it a reality. One of the most important benefits of a locally owned bank is that the earnings remain in the community.”
The bank also reported results for the first three months of 2014. For the period ending March 31, net income was $1,987,041, a 9 percent increase over the same period last year and a 16 percent return on average shareholders’ equity.
Total assets at quarter end were $568 million, an increase of $51 million over the previous year. The bank has also experienced strong loan growth. Total loans have increased more than $34 million over the last 12 months.
In commenting on this growth, the bank’s president, Charles H. Hodges III, said, “Our ability to quickly respond to our customers’ loan needs with a common sense approach continues to separate us from the trends of the banking industry and is enabling us to achieve solid loan growth and maintain good credit quality in this challenging economic environment.”
The bank’s total regulatory capital as of March 31 was $49.7 million or 8.64 percent of total assets, well above the 5 percent capital level considered to be well capitalized by the regulators.
“Our capital is strong and increasing” stated Cheney. “A strong capital position is certainly important and is one of our bank’s strengths.”
Thomasville Bancshares Inc. was founded in 1995 as the holding company for Thomasville National Bank. Today, the bank has total assets of more than $568 million.
TNB was named Georgia’s Top Ranked Bank in 2013 in the Georgia Bank Performance Report and was recently recognized by American Banker as one of the Top 200 Community Banks, ranked 31st in the country. The bank’s investment division, TNB Financial Services, provides financial planning, investments, trust, brokerage and other related financial services.
The company is headquartered in Thomasville and has more than 800 local shareholders.