Raffaele M. Branca, President and Chief Executive Officer, reported, “Our dividend payout ratio is 39.1% on fourth quarter 2019 earnings. This payout ratio is higher due to merger related cots that we expensed in that earnings period.”
VSB Bancorp, Inc. is the one-bank holding company for Victory State Bank. Victory State Bank, a
The payment of dividends is at the discretion of the Board of Directors and nothing contained herein should be interpreted as a commitment to pay future dividends.
Statements contained in this press release, which are not historical facts, are forward -looking statements, as defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to materially differ from those currently anticipated. Those risks and uncertainties include, among other things, possible future changes in (i) the local, regional or national economy, (ii) the local, regional, national or international progression of the COVID-19 virus, (iii) market interest rates, (iv) customer preferences, or (v) federal or state laws.
Ralph M. Branca
President & CEO
SOURCE: VSB Bancorp
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