Coinciding with its 10th anniversary, Peach State Bank & Trust issued its first annual dividend this month to stockholders.
Peach State stockholders of record as of May 19 were paid a return of 5 cents per share. It was approved by the downtown Gainesville bank’s board of directors during the April meeting.
“The payout of our dividend was based upon three consecutive years of profitability and management’s positive outlook for continued solid growth this year,” said Ron Quinn, president and CEO of Peach State Bank.
Having opened its doors April 27, 2005, Peach State Bank & Trust set a record for its initial stock offering, selling $12 million in just 10 days.
Peach State is a locally owned and operated community bank located at 325 Washington St., Gainesville. With about $150 million in total assets and more than 25 employees, Peach State offers personal and business banking services.