--Declaration Represents 500th Dividend Payment to Shareholders Since 1916--
Farmers & Merchants Bank of Long Beach (OTCQB: FMBL) today announced that its board of directors has approved an increase of the Bank’s regular quarterly cash dividend to $27 per share from $23 per share and a special Christmas dividend of $25 per share on the Bank’s common stock.
“The increase in the dividend payment demonstrates Farmers & Merchants Bank’s financial health, in addition to our commitment to enhance shareholder value,” said Daniel Walker, chief executive officer and chairman of the board. “F&M has paid a dividend for more than century, and it is an honor to continue the tradition of a Christmas dividend this holiday season.”
Both the quarterly and special dividends are payable on December 14, 2018 to shareholders of record as of November 30, 2018. The declaration represents F&M’s 500th dividend payment, including special dividends. F&M has paid a dividend each year to shareholders since 1916.
About Farmers & Merchants Bank of Long Beach
Founded in Long Beach in 1907 by C.J. Walker, Farmers & Merchants Bank has 25 branches across Orange County, Long Beach, the South Bay and now in Santa Barbara. The Bank specializes in commercial and small business banking, business loan programs, home loans, and a robust offering of consumer retail banking products, including checking, savings and youth accounts. Farmers & Merchants Bank is a California state-chartered bank with deposits insured by the Federal Deposit Insurance Corporation (Member FDIC) and an Equal Housing Lender. For more information about F&M, please visit the website, www.fmb.com.
Farmers & Merchants Bank of Long Beach
562-437-0011, ext. 5035
Executive Vice President
Evan Pondel, 310-279-5980
Corporate & Investor Relations