First Commerce Bank's Board of Directors announced its semiannual cash dividend to its shareholders payable December 1st. The semiannual dividend will total $.50 per common share with an additional $.50 per share as a special year-end dividend, totaling $1.50 for the 2016 fiscal year. ...
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First Commerce Bank's Board of Directors announced its semiannual cash dividend to its shareholders payable December 1st. The semiannual dividend will total $.50 per common share with an additional $.50 per share as a special year-end dividend, totaling $1.50 for the 2016 fiscal year. First Commerce Bank's Chairman and CEO Bill Marsh stated, "We are very proud to be providing a return to the individuals and families who believed in community banking and purchased shares of First Commerce stock." Marsh noted the semiannual dividend and special dividend payment will total approximately $1,500,000 for 2016, which equates to a 16.25% annual return to those who purchased their stock during the organizational period in 2002 at $10 per share. He stated 2016 has been an extraordinary earnings and growth year.
First Commerce Bank currently has $335,000,000 in assets; $300,000,000 in deposits; $240,000,000 in outstanding loans; currently has four offices; employs 56 people; and is locally owned and operated.
First Commerce Bank is a Tennessee banking corporation the deposits of which are insured through the Federal Deposit Insurance Corporation up to the maximum permitted by law. The bank is headquartered in Lewisburg, Tennessee with branches in Chapel Hill and Fayetteville. It offers extensive and service-intensive financial products and services in Marshall County and surrounding counties in Tennessee. For additional information please visit the Bank's website at www.firstcommercebank.net.