JACKSONVILLE, Fla., Feb. 16, 2017 /PRNewswire/ -- FirstAtlantic Financial Holdings, Inc. (OTCQX: FFHD), the holding company for FirstAtlantic Bank, today announced that the Company has declared a quarterly cash dividend of $0.04 per share on the Company's common stock. The quarterly dividend represents a 33% increase from the $0.03 quarterly dividend paid in the four prior quarters. This is the fifth consecutive quarterly dividend to be paid.
The dividend will be payable to shareholders of record as of March 15, 2017 and will be paid on or about April 4, 2017.
"We are pleased to be able to continue sharing the financial success of FirstAtlantic with our shareholders through the payment of dividends," said Mitchell W. Hunt, Jr., president & chief executive officer. "We believe the increase in dividend is reflective of our ability to return value to our shareholders and is an indication of the Company's financial strength and our positive outlook for the future."
About FirstAtlantic Financial Holdings, Inc.:
FirstAtlantic Financial Holdings, Inc. is the holding company for FirstAtlantic Bank, which is a full service community bank, headquartered in Jacksonville, Florida. FirstAtlantic Bank has approximately $438 million in assets and eight financial centers located in Jacksonville, Orange Park, St. Augustine and Ponte Vedra Beach. FirstAtlantic Bank (www.bankfirstatlantic.com) is dedicated to serving businesses, professionals, and consumers while offering a full array of banking services. FirstAtlantic Bank has earned a 5-Star Rating from BauerFinancial, Inc., the Nation's leading bank rating firm. FirstAtlantic Financial Holdings, Inc. has received a 3-Star Rating from Morningstar (available at otcmarkets.com under the symbol FFHD).
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SOURCE FirstAtlantic Financial Holdings, Inc.