SANTA CRUZ, Calif., July 24, 2015 /PRNewswire/ -- Lighthouse Bank (OTC-QB: LGHT) today announced that its Board of Directors has approved its first Quarterly Cash Dividend in the amount of $0.075 per share. The dividend is payable on August 28, 2015, to shareholders of record at the close of business on August 7, 2015. The cash dividend is the result of the Bank's strong ongoing financial performance and significant capital strength. The cash dividend follows a Special $0.40 Cash Dividend paid in January 2015, as well as the issuance of Stock Dividends by the Bank in both 2011 and 2013.
Lighthouse Bank recently reported results for the 2nd quarter of 2015, ending June 30, 2015. The Bank posted $536 thousand in earnings for the period and recorded its 24th consecutive quarter of profitable operations. The Bank is extremely well capitalized with Equity Capital-to-total assets of 15% and Shareholders' Equity of $26.4 million.
ABOUT LIGHTHOUSE BANK:
Lighthouse Bank is a locally owned and operated full-service commercial bank located in Santa Cruz, Ca. The Bank offers a full array of banking products and services to businesses, professionals, individuals, developers and commercial property owners. Lighthouse Bank is dedicated to providing exceptional personalized service and access to decision makers who are always close at hand. A unique worldwide ATM fee rebate program, business courier service, and remote deposit capture technology allow the Bank to expand its geographical reach throughout Santa Cruz County and the Silicon Valley.
Lighthouse Bank is located at 111 Mission Street in Downtown Santa Cruz, Ca. Lighthouse Bank's stock (LGHT) is actively traded on the Over the Counter Bulletin Board via the Bank's market makers and online and full-service brokerage providers. More information on the Bank's stock and historical financial performance may be located on the Bank's website at www.lighthousebank.net or by calling 831-600-4000.
Member FDIC / Equal Housing Lender / SBA Preferred Lender
The attached release may contain forward-looking statements that are subject to risks and uncertainties. Such risks and uncertainties may include but are not necessarily limited to fluctuation in interest rates, inflation, government regulations and general economic conditions, and competition within the business areas in which the Bank is conducting its operations, including the real estate market in California and other factors beyond the Bank's control. Such risks and uncertainties could cause results for subsequent interim periods or for the entire year to differ materially from those indicated. Readers should not place undue reliance on the forward-looking statements, which reflect management's view only as of the date hereof. The Bank undertakes no obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances.
SOURCE Lighthouse Bank