The Board of Directors of Golden Valley Bank (OTCBB: GVYB),
headquartered in Chico, California has declared a special cash dividend
of $0.10 per common share for stockholders of record as of December 8,
2012. The payment date will be approximately December 18, 2012.
Earlier this year the Bank announced a Stock Repurchase Plan. To date
45,822 shares have been repurchased, about 2.2% of the Bank’s
“2012 has been an excellent year for Golden Valley Bank and our
shareholders,” commented President and CEO Mark Francis. “Our repurchase
plan has increased each shareholder’s percentage of ownership of the
Bank and this special dividend puts cash in their pockets from the
profits of the company.” The December payment of the dividend will come
before potential tax increases that could occur in 2013.
Golden Valley Bank is a locally owned and operated commercial bank
serving the needs of individuals and businesses in northern California.
The Bank has a full service office in Chico, California and a Loan
Production Office in Redding, California. For more information regarding
the bank please call at (530) 894-1000 or visit www.goldenvalleybank.com.
Statements concerning future
performance, developments or events, expectations for growth and income
forecasts, and any other guidance on future periods, constitute
forward-looking statements that are subject to a number of risks and
uncertainties. Actual results are pre-fiscal year-end audit and may
differ materially from stated expectations. Specific factors include,
but are not limited to, loan production, balance sheet management,
expanded net interest margin, the ability to control costs and expenses,
interest rate changes and financial policies of the United States
government and general economic conditions. The Bank disclaims any
obligation to update any such factors.