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Jefferson Security Bank Announces an Increase in the Semi-Annual Dividend

Published on: February 17, 2017

Jefferson Security Bank Announces Semi-Annual Dividend Payment

Shepherdstown, West Virginia; February 17, 2017

President and CEO of Jefferson Security Bank (OTCQB: JFWV), Cindy A. Kitner, announced the Board of Directors approval of a semi-annual dividend at their February 15, 2017 meeting in the amount of $0.55 per share, payable on March 15, 2017 to shareholders of record on February 28, 2017. This represents an increase of 10% compared to the semi-annual dividend paid on September 15, 2016.

Net income for the year ended December 31, 2016 totaled $1,345,000, representing an increase in earnings of 22% when compared to $1,106,000 for the year ended December 31, 2015. Book value per share rose to $76.35 from $73.07 when comparing the years ended 2016 to 2015. President and CEO, Cindy A. Kitner stated, “The Board of Directors and management remain committed to strong capital levels and growing shareholder value.”

Jefferson Security Bank, founded in 1869, is a community bank engaged in the general banking business in Berkeley County and Jefferson County, West Virginia, and Washington County, Maryland.

This press release may contain forward-looking statements, as defined by federal securities laws, which may involve significant risks and uncertainties. The statements are based on estimates and assumptions made by management in conjunction with other factors deemed appropriate under the circumstances. Actual results could differ materially from current projections.

 

Offices: 105 East Washington Street, Shepherdstown, WV (304-876-9000)
7994 Martinsburg Pike, Shepherdstown, WV (304-876-2800)
873 East Washington Street, Suite 100, Charles Town, WV (304-725-9752)
277 Mineral Drive, Suite 1, Inwood, WV  (304-229-6000)
1861 Edwin Miller Boulevard, Martinsburg, WV (304-264-0900)
103 West Main Street, Sharpsburg, MD  (301-432-3900)