Thomasville Bancshares Inc., the holding company of Thomasville National Bank and TNB Financial Services, has announced a dividend for its shareholders.
In announcing the dividend of $.45, which brings the total dividends paid for 2013 to $1.20, the company’s CEO, Stephen H. Cheney, stated that “We are very pleased that our bank’s solid financial performance allows us to pay a dividend.
Cheney also stated “Over the last 17 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 nine months of 2013. For the period ending Sept. 30, 2013 net income was $5,691,683, a 25 percent increase over the same period last year. Total assets were $559,337,286, an increase of $52 million over the same period last year. The bank has also experienced strong loan growth. Total loans have increased over $20 million over the last twelve months. In commenting on this growth, the bank’s president, Charles H. Hodges, III stated that “Our ability to quickly respond to our customers’ loan needs with a common sense approach has enabled us to achieve solid loan growth and maintain good credit quality in this difficult economic environment.”
The bank’s total regulatory capital as of Sept. 30 was $46,321,000 or 8.64 percent of total assets, well above the five 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. 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.