Citizens South Banking Corporation Announces Quarterly Cash Dividend
April 23 2012 - 4:01PM
Kim S. Price, President and Chief Executive Officer of Citizens
South Banking Corporation (Nasdaq:CSBC), announced today that the
Company's Board of Directors has declared a cash dividend of one
cent ($0.01) per common share. The Company has paid cash dividends
in each of the 56 quarters since the Company's conversion to public
ownership. The dividend will be payable to stockholders of
record as of May 4, 2012, and will be distributed on May 18, 2012.
Citizens South Banking Corporation is the parent corporation for
Citizens South Bank, which was established in 1904 and is
headquartered in Gastonia, North Carolina. The Bank has 21
full-service banking offices located in the Charlotte, North
Carolina and North Georgia regions. Deposits are FDIC insured
up to the applicable regulatory limit. At March 31, 2012, the
Company had consolidated assets in excess of $1.1 billion, total
loans of $728.5 million and total deposits of $872.6
million. The Company maintains a website at
www.citizenssouth.com that includes information on the Company,
along with a list of products and services, branch locations,
current financial information, and links to the Company's filings
with the SEC.
The Citizens South Banking Corporation logo is available
at http://www.globenewswire.com/newsroom/prs/?pkgid=7099
Cautionary Statement Regarding Forward-looking Statements
This news release contains certain forward-looking statements
which include, but are not limited to, statements of our earnings
expectations, statements regarding our operating strategy, and
estimates of our future costs and benefits. These forward-looking
statements are based on our current beliefs and expectations and
are inherently subject to significant business, economic and
competitive uncertainties and contingencies, many of which are
beyond our control. In addition, these forward-looking
statements are subject to assumptions with respect to future
business strategies and decisions that are subject to change.
Forward-looking statements speak only as of the date they are made
and the Company is under no duty to update these forward-looking
statements to reflect circumstances or events that occur after the
date of the forward-looking statements or to reflect the occurrence
of unanticipated events. A number of factors could cause actual
conditions, events or results to differ significantly from those
described in the forward-looking statements. Factors that
could cause such a difference include, but are not limited to,
changes in general economic conditions – either locally or
nationally, competition among depository and financial
institutions, the continuation of current revenue and expense
trends, significant changes in interest rates, unforeseen changes
in the Company's markets, and legal, regulatory, or accounting
changes. The Company's reports filed from time to time with
the Securities and Exchange Commission, including the Company's
Form 10-K for the year ended December 31, 2011, describe some of
these factors.
CONTACT: Gary F. Hoskins, CFO
(704) 884-2263
gary.hoskins@citizenssouth.com
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