The Board of Directors has declared a 10% stock dividend, according to board chairman Robert C. Jones. The stock dividend will be paid March 2, 2018 to shareholders of record on February 14, 2018.
"We are very excited about the prospects of expanding our core business in the coming year," stated Jones. "Recent changes in our competitive marketplace should result in strong growth over the near term. We want to be well positioned to take advantage of these opportunities."
MVB is a locally owned, community business bank with offices in Red Bluff, Corning and Redding. The bank focuses on real estate construction lending, agricultural production loans and commercial lending to the business and professional community.
Founded in 1975, the bank celebrated its 25th anniversary last year. More information about MVB can be obtained at its website, www.midvalleybank.com.
This news release includes forward-looking statements about MVB's financial condition, results of operations, plans, objectives and future performance. A number of factors, many of which are beyond the control of MVB, could cause actual results to differ materially from those in the forward-looking statements.