Dividend Announcement 1-8-24

Andover, Ohio - Stephen E. Varckette, President of Andover Bancorp, Inc., the holding company of Andover Bank, announced that on January 2, 2024, the company paid a dividend of $0.375 per share for the second half of 2023.

This dividend, added to the first half dividend of $0.375 per share, reflects a total dividend declared for 2023 of $0.75 per share, for an increase of 0.67% over the $0.745 dividend declared in 2022.

In making the announcement, Varckette added "We are proud of our operating performance over the past year and are pleased to announce this dividend as it represents our 41st year of paying a record dividend to our shareholders.  Our history of paying dividends demonstrates the long-term financial strength and stability of Andover Bank.”