The Board of Directors of Thomasville Bancshares, Inc., the holding company of Thomasville National Bank and TNB Financial Services, have declared a cash dividend. A cash dividend of $.80 per share will be paid on July 2, 2021 to all shareholders of record as of June 11, 2021.
“During this challenging time, we are pleased the strength of our bank allows us to continue our tradition of paying a dividend in July to our shareholders,” company chairman and CEO Stephen Cheney said in announcing the dividend.
“Over the last 26 years the support of this community, our shareholders and customers have made our bank extremely successful,” Cheney said. "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.”
Over the past 22 years, TNB has paid over $66 million in dividends to local shareholders.
The bank reported results for the first three months of 2021. For the period ending March 31, 2021 net income was $5,468,906 a 12% increase over the same period last year, and a 22.45% return on average shareholders’ equity. Total assets at quarter end were $1.255 billion, an increase of $252 million over the previous year.
The bank has also experienced strong loan growth. Total loans have increased over $201 million over the last 12 months.
“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 excellent credit quality,” President Charles H. Hodges III said of the growth.
The bank’s total Regulatory Capital as of March 31, 2021 was $104 million or 8.40% of total assets, well above the 5%capital level considered to be well capitalized by the regulators.
“Our capital is strong and increasing,” Cheney said. “A strong capital position is certainly important and is one of our Bank’s strengths.”
The annual meeting of shareholders will be held Tuesday, May 18. A video of the meeting will be available on the bank’s website tnbank.com. For shareholders attending in person, seating may be limited to observe COVID-19 protocols including social distancing guidelines.
Thomasville Bancshares, Inc. was founded in 1995 as the holding company for Thomasville National Bank. Today the Bank has total assets of over $1.255 billion. TNB was named one of Georgia’s Top Ranked Banks in each of the last three years in the Georgia Bank Performance Report and was recently recognized by American Banker magazine as one of the Top 200 Community Banks in the country, ranked fourth in the nation based upon three years average return on shareholders’ equity. The Bank’s investment division, TNB Financial Services, now has client assets over $3.3 billion under advisement and provides financial planning, investments, trust, brokerage and other related financial services. They now have offices located in Georgia, Florida, South Carolina, Texas and Illinois.
The company is headquartered in Thomasville and has over 800 local shareholders.