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 $.70 which brings the total dividends paid for 2019 to $1.40, the Company’s Chairman and CEO Stephen H. Cheney stated that “We are very pleased that our Bank’s solid financial performance allows us to increase our dividend.” Cheney also stated “Over the last 24 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 2019. For the period ending September 30, 2019 net income was $14,303,031 an 8% increase over the same period last year. Total assets were $953,902,522 an increase of $83 million over the same period last year. The Bank has also experienced strong loan growth. Total loans have increased over $71 million over the last twelve months. In commenting on this growth the Bank’s President Charles H. Hodges, III stated that “Our continued commitment to empower our lenders and remove all unnecessary bureaucracy from the lending process sets us apart from our competition more than ever. In addition, we believe this leads to better decisions and a much higher quality loan portfolio.”
The Bank’s total Regulatory Capital as of September 30, 2019 was $88,449,028 or 9.19% of total assets, well above the 5% 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, Georgia and has over 800 local shareholders.