The Board of Directors of Thomasville Bancshares, Inc., the holding company of Thomasville National Bank and TNB Financial Services has declared a cash dividend. A cash dividend of $.95 per share will be paid on July 6, 2023, to all shareholders of record as of June 15, 2023.
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 July to our shareholders.”
Cheney also stated “As we enter our 28th year we recognize 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-three years, TNB has paid over $87 million in dividends to local shareholders.
The Bank reported results for the first three months of 2023. For the period ending March 31, 2023, net income was $8,849,185 a 48% increase over the same period last year, and a 27.32% return on average shareholders’ equity. Total assets at quarter end were $1.565 billion, an increase of $65 million over the previous year. The Bank has also experienced strong loan growth. Total loans have increased by over $167 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 March 31, 2023, was $135 million or 8.90% 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.”
The Annual Meeting of Shareholders will be held on May 16th at the Main Office located at 301 N. Broad Street.
Thomasville Bancshares, Inc. was founded in 1995 as the holding company for Thomasville National Bank. Today the Bank has total assets of over $1.565 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 9th in the nation based upon three years average return on shareholders’ equity. The Bank’s investment division, TNB Financial Services, has client assets of over $3.9 billion under advisement and provides financial planning, investments, trust, brokerage, and other related financial services. TNBFS has offices located in Georgia, Florida, South Carolina, Illinois, and Ohio. The Company is headquartered in Thomasville, Georgia, and has over 800 local shareholders.