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Elmira Savings Bank to pay quarterly dividend of 15 cents a share on March 12

The Elmira Savings Bank headquarters (PHOTO CREDIT: ELMIRA SAVINGS BANK FACEBOOK PROFILE)

ELMIRA, N.Y. — The board of directors of Elmira Savings Bank (NASDAQ: ESBK) has declared a quarterly cash dividend of 15 cents a share on its common stock. The Elmira–based banking company will pay the dividend on March 12 to shareholders of record on March 4. Elmira Savings Bank, with $649 million in total assets, […]

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ELMIRA, N.Y. — The board of directors of Elmira Savings Bank (NASDAQ: ESBK) has declared a quarterly cash dividend of 15 cents a share on its common stock.

The Elmira–based banking company will pay the dividend on March 12 to shareholders of record on March 4.

Elmira Savings Bank, with $649 million in total assets, is a state-chartered bank with five branches in Chemung County, three in Tompkins County, two in Steuben County, one branch each in Cayuga County and Schuyler County, and a loan center in Broome County.

Elmira Savings Bank recently reported net income of more than $1.28 million, or 37 cents per share, in the fourth quarter of 2020, up from $940,000, or 27 cents a share, in the same period in 2019. A rise in noninterest income primarily due to increases in the gain on sale of loans, reflecting higher levels of residential mortgages originated for sale to the secondary markets, led the way to the higher profit.

Thomas M. Carr is president and CEO of Elmira Savings Bank.

Jornal Staff