Mid-Southern Bancorp, Inc. Announces a 33 Percent Increase in its Quarterly Cash Dividend and the Hiring of James O. King III as Executive Vice President and Senior Loan Officer of Mid-Southern Savings Bank, FSB
27 Outubro 2021 - 5:05PM
Mid-Southern Bancorp, Inc. (“Company”) (Nasdaq:MSVB), the holding
company for Mid-Southern Savings Bank, FSB (“Bank”), announced that
its Board of Directors declared a quarterly cash dividend of $0.04
per share on the Company’s outstanding common stock, an increase of
33 percent versus the prior quarterly dividend rate of $0.03 per
share and the second increase announced during 2021. The cash
dividend will be payable on November 26, 2021 to shareholders of
record as of the close of business on November 12, 2021. The
declaration and payment of future dividends to holders of the
Company’s common stock will be at the discretion of the Board of
Directors, and will depend upon many factors, including the
Company’s financial condition, earnings, capital requirements of
its businesses, legal requirements, regulatory constraints,
industry practice, and other factors that the Board of Directors
deems relevant.
In addition, the Company announced that James
(Jimmy) O. King, III has been hired as Executive Vice President and
Senior Loan Officer of the Bank. Mr. King will replace Frank (Buzz)
M. Benson, III, who on August 13, 2021 announced his retirement
effective January 1, 2022. Mr. King began his career at King
Southern Bank of Chaplin, Kentucky in 1994. Through the years held
various positions as he advanced to the position of President and
CEO of King Southern Bank and its holding company, King Bancorp,
Inc. King Bancorp, Inc. was acquired by a Louisville,
Kentucky-based regional bank in 2019.
Mid-Southern Bancorp President & CEO, Alex
Babey, commented, “We are very pleased to have Jimmy succeed Buzz
as a member of our Executive team. Jimmy has a proven record of
performance and brings to Mid-Southern a deep knowledge of
community banking and the markets we serve.”
About the Company
Mid-Southern Bancorp, Inc. is the parent of
Mid-Southern Savings Bank, FSB. The Bank is a federally chartered
savings bank headquartered in Salem, Indiana, approximately 40
miles northwest of Louisville, Kentucky. The Bank conducts business
from its main office in Salem and through its branch offices
located in Mitchell and Orleans, Indiana and loan production
offices located in New Albany, Indiana and Louisville,
Kentucky.
Cautionary Note Regarding Forward-Looking
Statements
This press release contains certain forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. Such forward
looking statements may be identified by reference to a future
period or periods, or by the use of forward-looking terminology,
such as “estimate,” “project,” “believe,” “intend,” “anticipate,”
“plan,” “seek,” “expect,” “will,” “may,” “continue,” or similar
terms or variations on those terms, or the negative of those terms.
Forward-looking statements, by their nature, are subject to risks
and uncertainties. Certain factors that could cause actual results
to differ materially from expected results include the effect of
the COVID-19 pandemic, including on our credit quality and business
operations, as well as its impact on the real estate and economic
environment, particularly in the market areas in which the Bank
operates; increased competitive pressures; changes in the interest
rate environment; general economic conditions or conditions within
the securities markets; and legislative and regulatory changes
affecting financial institutions, including regulatory compliance
costs and capital requirements that could adversely affect the
business in which the Company and the Bank are engaged; and other
factors described in the Company’s latest Annual Report on Form
10-K and Quarterly Reports on Form 10-Q and other filings with the
Securities and Exchange Commission that are available on our
website at mid-southern.com and on the SEC's website at
www.sec.gov.
The factors listed above could materially affect
the Company’s financial performance and could cause the Company’s
actual results for future periods to differ materially from any
opinions or statements expressed with respect to future periods in
any current statements.
Except as required by applicable law, the
Company does not undertake – and specifically declines any
obligation – to publicly release the result of any revisions which
may be made to any forward-looking statements to reflect events or
circumstances after the date of such statements or to reflect the
occurrence of anticipated or unanticipated events. When considering
forward-looking statements, you should keep in mind these risks and
uncertainties. You should not place undue reliance on any
forward-looking statement, which speaks only as of the date
made.
Contact:Alexander G.
Babey, President and Chief Executive OfficerRobert
W. DeRossett, Chief Financial OfficerMid-Southern
Bancorp, Inc.812-883-2639
Mid Southern Bancorp (NASDAQ:MSVB)
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