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Golden Valley Bancshares Reports First Quarter 2025 Results (Unaudited); Announces Dividends & Stock Repurchase Plan
CHICO, CA / ACCESS Newswire / April 10, 2025 / Golden Valley Bancshares (OTC PINK:GVYB), with its wholly owned subsidiary, Golden Valley Bank headquartered in Chico, California today reported first quarter 2025 financial results, cash dividends and ...
About this update from Golden Valley Bancshares, Inc.
[{"type":"text","content":"CHICO, CA / ACCESS Newswire / April 10, 2025 / Golden Valley Bancshares (OTC PINK:GVYB), with its wholly owned subsidiary, Golden Valley Bank headquartered in Chico, California today reported first quarter 2025 financial results, cash dividends and stock repurchase plan.","length":271,"tagName":"p"},{"type":"text","content":"Golden Valley Bancshares announced today that the Board of Directors declared a special cash dividend on Golden Valley Bancshares common stock of $1.00 per share, payable on May 1, 2025, to stockholders of record as of April 17, 2025. Furthermore, the Board of Directors declared an annual cash dividend on common stock of $0.40 per share, payable on May 15, 2025 for shareholders of record as of April 17, 2025. "The dividend was declared after considering the Bank's capital requirements, continued growth in shareholder value and the current banking environment." stated Mark Francis, President and CEO.","length":620,"tagName":"p"},{"type":"text","content":"On March 11, 2025, the Board of Directors authorized a new stock repurchase plan for up to $1,000,000 of the Company's outstanding common stock. The repurchase program is effective on May 1, 2025 and will remain in effect until December 31, 2025. At the discretion of the management of the Company, stock repurchases will be made from time to time through privately negotiated transactions, open market purchases, or otherwise, in accordance with all applicable legal requirements. The stock repurchase program is intended to provide increased return on equity to existing shareholders and provide additional market liquidity for our common shares outstanding. The repurchase program does not obligate Golden Valley Bancshares to acquire any amount of common stock and may be extended, modified, suspended, or discontinued at any time at the Company's discretion.","length":871,"tagName":"p"},{"type":"text","content":"First quarter 2025 financial highlights compared to the first quarter of 2024 include:","length":86,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Assets increased $88.5 million or 18.2% to $574.6 million","length":57,"tagName":"p"}]},{"val":[{"type":"text","content":"Loans increased $8.4 million or 3.6% to $244.6 million","length":54,"tagName":"p"}]},{"val":[{"type":"text","content":"Deposits increased $83.6 m...