FOR IMMEDIATE RELEASE
CONTACT: Doyle M. Thigpen, Chief Financial Officer (252) 317-2804
DATE: November 1, 2016
the little bank Announces 5% Stock Dividend and Cash Dividend of $0.0850 Per Share
Kinston, NC – (Business Wire) – November 1, 2016 – the little bank (OTCQX: LTLB) announced that its Board of Directors, on September 28, 2016, approved a 5% stock dividend on the Bank’s common stock. The stock dividend is payable on November 30, 2016 to shareholders of record at the close of business on November 15, 2016. Cash-in-lieu will be paid on fractional shares based on the stock’s market value at the close of business on November 15, 2016. Total shares of common stock issued and outstanding as of October 31, 2016 were 3,198,157.
The little bank also announced today that its Board of Directors, on October 20, 2016 approved a semi-annual cash dividend of $0.0850 per share on the Bank’s common stock. The cash dividend is payable on December 30, 2016 to shareholders of record at the close of business on December 15, 2016.
Rob Jones, President and Chief Executive Officer, stated, “The Board of Directors is pleased to continue the payment of annual stock dividends and semi-annual cash dividends to shareholders. The semi-annual cash dividends, annual stock dividends, and the stock repurchase program are a direct reflection of the strength of the Bank’s performance, balance sheet, and capital position.”
The little bank is headquartered in Kinston, North Carolina and currently serves the Lenoir, Wayne, Onslow, Pitt, Craven and New Hanover county markets. The Bank prides itself on the special care with which it serves its customers. The Bank’s website is www.unionbanknc.com. The little bank stock can be found on the OTCQX trading under the symbol LTLB.