(Cleveland)- Mountain Valley Bancshares, Inc., the parent bank holding company of Mountain Valley Community Bank, based in Cleveland, has declared a cash dividend of $0.10 per share to holders of Mountain Valley Bancshares, Inc.’s common stock and $.105 for holders of preferred shares of Mountain Valley Bancshares, Inc. The dividend is payable on March 20th this year to all shareholders of record as of March 2, 2016.
Marc J Greene, President and CEO of Mountain Valley Bancshares, Inc. said in making the announcement, “On behalf of the Board of Directors and staff, we are pleased to make this positive announcement.” “In 2015, financial performance showed continue improvement as asset quality and earnings improved. The 2016 dividend is a 42.8% increase over our 2015 dividend.
Greene also said, “ we are grateful to our loyal and committed customer base. We feel that the second annual dividend is a strong indication of the financial strength or our company”
Mountain Valley Community Bank opened for business on May 4, 2004. The bank has $180 million in assets and operates locations in Cleveland, Jefferson and Gainesville, Ga.