State Bank Corp. Increases Regular Quarterly Cash Dividend by 25% to $0.075 per Share

LAKE HAVASU CITY, Ariz., March 01, 2019 (GLOBE NEWSWIRE) -- State Bank Corp. (OTCPINK: SBAZ) (“Company”), the holding company for State Bank of Arizona (“Bank”), today announced its Board of Directors increased its regular quarterly cash dividend by 25% to $0.075 per share. The company paid a cash dividend of $0.06 per share in the prior quarter. The dividend is payable on March 29, 2019 to shareholders of record on March 15, 2019. Based on the current share price, the annualized dividend yield is 2.22%. 

About the Company

State Bank Corp., headquartered in Lake Havasu City, Arizona, is the parent company of State Bank of Arizona, the largest locally-owned bank in Arizona. State Bank of Arizona is a full-service bank providing deposit and loan products, and convenient on-line banking to individuals, businesses and professionals. The Bank was established in October 1991, and the holding company was formed in 2004. Specializing in providing exceptional customer service and investing in its local communities, State Bank of Arizona was named 2018 Bank of the Year by Western Independent Bankers. The Bank has ten full-service branches: two in Lake Havasu City, two in Kingman, two in Prescott, one in Bullhead City, one in Prescott Valley, one in Phoenix, and one in Cottonwood, Arizona. The Bank also operates a loan production office in Sedona, AZ. The Company is traded over-the-counter as SBAZ. For further information, please visit the web site: www.statebankaz.com.

Forward-looking Statements

This press release may include forward-looking statements about State Bank Corp. and State Bank of Arizona. These statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such risks and uncertainties include, but are not limited to, the following factors: the expected cost savings, synergies and other financial benefits from the completed merger might not be realized within the expected time frames or at all. Annualized, pro forma, projected and estimated numbers in this press release are used for illustrative purposes only, are not forecasts and may not reflect actual results. All forward-looking statements included in this press release are based on information available at the time of the release, and State Bank Corp. and State Bank of Arizona assume no obligation to update any forward-looking statements.