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 $1.05 per share will be paid on December 15, 2023 to all shareholders of record as of December 5, 2023. The total dividend paid for the year of $2.00 represents a 14% increase over the 2022 dividend paid of $1.75.
In announcing the dividend, the Company’s Chairman and CEO Stephen H. Cheney stated that “During this challenging time, we are pleased the strength of our Bank allows us to continue our tradition of paying a dividend in December to our shareholders.”
Cheney also stated “Over the last 28 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-four years, TNB has paid over $94 million in dividends to local shareholders.
The Bank reported results for the first nine months of 2023. For the period ending September 30, 2023 net income was $26,162,967 a 34% increase over the same period last year, and a 25.39% return on average shareholders’ equity. Total assets at quarter end were $1.575 billion, an increase of $17 million over the previous year. The Bank has also experienced strong loan growth. Total loans have increased over $127 million over the last twelve months. In commenting on this growth, the Bank’s President Charles H. Hodges, III stated that “Enabled by experienced and empowered bankers, our ability to quickly respond to our customers’ needs with a common sense approach continues to separate us from the trends of the banking industry and is enabling us to achieve solid growth while maintaining excellent credit quality.”
The Bank’s total Regulatory Capital as of September 30, 2023 was $145 million or 9.35% 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 $1.575 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 10 Community Banks in the country, based on three-year average return on shareholders’ equity. The Bank’s investment division, TNB Financial Services, has client assets over $3.9 billion under advisement and provides financial planning, investments, trust, brokerage and other related financial services. TNB Financial Services has offices located in Georgia, Florida, South Carolina, and Illinois. The Company is headquartered in Thomasville, Georgia and has over 800 local shareholders.