The Board of Directors of 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 $1.00, the Company’s Chairman and CEO Stephen H. Cheney stated that “We are very pleased the strength of our Bank allows us to continue our tradition of paying a dividend in December to our shareholders. The total dividends paid for 2020 is $1.50, an increase of $.10 over the dividends paid in 2019.”
Cheney also stated “Over the last 25 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.” Over the past twenty-one years, TNB has paid $59 million in dividends to local shareholders.
The Bank also reported results for the first nine months of 2020. For the period ending September 30, 2020 net income was $14,489,449, a 1.3% increase over the same period last year, and a 20.4% return on average shareholders’ equity. Total assets were $1.167 billion, an increase of $213 million over the previous year. The Bank has also experienced strong loan growth. Total loans have increased over $207 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 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.”
The Bank’s total Regulatory Capital as of September 30, 2020 was $99.7 million or 8.55% 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. Today the Bank has total assets of over $1.2 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 4th 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 $2.8 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, Georgia and has over 800 local shareholders.