Jeffersonville Bancorp Announces Special Dividend of $0.15 per share

JEFFERSONVILLE, N.Y., Jan. 16, 2024 (GLOBE NEWSWIRE) -- Jeffersonville Bancorp, Inc. (OTCQB - JFBC) announced today that a special cash dividend in the amount of fifteen cents ($0.15) per share on the common stock of the company was declared at the January 16, 2024 meeting of the Board of Directors. The dividend is payable on February 5, 2024 to stockholders of record at the close of business on January 29, 2024."The Company had an exceptional year in 2023 due to steady loan growth, improved credit quality, and low core funding costs. In addition, the higher rate environment contributed significantly to interest on loans and balances at the Federal Reserve," said George W. Kinne, Jr., President and CEO. “The Board of Directors is pleased that with our positive results and strong capital position, they are able to reward our loyal shareholders with this special cash dividend."

Jeffersonville Bancorp is a one-bank holding company, which owns all the capital stock of Jeff Bank. Jeff Bank maintains ten full-service branches in Sullivan and Orange County, New York located in Anawana Lake Road/Monticello, Eldred, Callicoon, Jeffersonville, Liberty, Livingston Manor, Monticello, Port Jervis, White Lake, and Wurtsboro.

For More Information, call: 845-482-4000

Contact: George W. Kinne, Jr., President – CEO