Port City Bank announces dividend
The board of directors of Port City Holding Company Inc. announced a 35-cents per share of common stock cash dividend declared on June 20 and payable July 7. This represents a 40 percent increase from the previous quarter’s dividend. Port City Holding Company Inc. reported second-quarter earnings of $1.62 per share up from the second quarter in 2010 ($1.04), which brings 2011 year-to-date earnings of $2.81 per share. Total average assets continue to show growth ending June 30, 2011, at $130,218,135. First Port City Bank, the subsidiary of Port City Holding Company Inc. and headquartered in Bainbridge, was formed in 1973. The bank is well capitalized and ranks high among bank rating companies regarding capital, asset quality, management and liquidity.