SANTA CRUZ, Calif., Jan. 25, 2017 /PRNewswire/ -- Lighthouse Bank (OTC-QB: LGHT), a highly rated locally owned and operated community bank, today announced that its Board of Directors has declared a Quarterly Cash Dividend in the amount of $0.08 per share. The dividend is payable on February 28, 2017 to shareholders of record at the close of business on February 8, 2017. The cash dividend is the result of the Bank's strong ongoing financial performance and significant capital strength.
In October, 2016, the Bank declared its second $0.08 per share quarterly cash dividend to shareholders, which was an increase of 6.67% over the four previous consecutive quarterly cash dividends of $0.075 per share. In early 2015, the Bank paid a special $0.40 per share cash dividend to shareholders, which followed two stock dividends granted in 2011 and 2013. Since January 2015, the Bank has paid $1,942,710 to shareholders.
Lighthouse Bank's consistently strong financial results continue to place it at the top of the industry in a variety of categories including asset quality, capital adequacy, return on equity and operational efficiency. SNL Financial ranked Lighthouse Bank as the 130th highest performing community bank in the nation based on 2015 performance of the 4,258 banks of asset size under $1 billion. DepositAccounts.com ranked Lighthouse Bank as the 5th healthiest bank in the nation in 2016, of 6,199 total banking institutions.
For eighteen consecutive quarters, the Bank has been rated by Bauer Financial as Five-Star "Superior" for strong financial performance, the top rating given by the independent bank rating firm. The Findley Reports banking publication named the Bank as a "Super Premier" performing bank for 2016, their highest ranking. Lighthouse Bank has no financial relationship with any of these rating agencies.
Lighthouse Bank stock, (LGHT) is actively traded 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.
ABOUT LIGHTHOUSE BANK:
Lighthouse Bank is a locally owned and operated full-service commercial bank headquartered 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. The Bank offers unique services such as free worldwide ATM use, complimentary business courier service, and remote deposit capture, allowing the Bank to expand its geographical reach throughout Santa Cruz County and the Silicon Valley.
Lighthouse Bank's headquarters are located at 2020 North Pacific Avenue in Downtown Santa Cruz, CA. Lighthouse Bank's stock (LGHT) is actively traded Over the Counter 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.
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SOURCE Lighthouse Bank