The Company and its Bank subsidiary continue to maintain a strong capital position and are classified as well-capitalized with total consolidated capital of $25.7 million. The Company's total number of outstanding common shares as of September 30, 2016 was 968,042.
The Company has issued quarterly dividend payments to shareholders during the first three quarters of 2016 of $0.19 per quarter or $0.57 total year-to-date through September 30, 2016. These dividend payments represent an increase of 5.56% as compared to the dividend payments made through September 30, 2015. The dividend payments represents an annualized yield and return to investors of 3.38% based on the market price per share of PNBI stock as of the date of this release.
Pioneer Bankshares, Inc. is a one-bank holding company headquartered in Page County, Virginia. The Company's main branch and corporate office are located in Stanley, Virginia, with other branch locations in Shenandoah, Luray, Harrisonburg, Stanardsville, Ruckersville, and Charlottesville, Virginia. The Bank also operates a small finance company known as Valley Finance Services, a Division of Pioneer Bank, which specializes in consumer and auto lending.
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SOURCE Pioneer Bankshares, Inc.