Intervest Bancshares Corporation Declares Cash Dividend of $.05 Per Common Share
April 24 2014 - 4:30PM
Business Wire
Intervest Bancshares Corporation (the “Company”)
(NASDAQ-GS:IBCA), the holding company for Intervest National Bank
(the “Bank”), announced today that its Board of Directors approved
the initiation of a regular quarterly cash dividend to
shareholders. The initial quarterly dividend of $0.05 per common
share will be payable on May 26, 2014 to shareholders of record on
the close of business May 15, 2014.
“We are pleased that the progress we have made in implementing
our strategic plan allows us to resume payment of a dividend to our
shareholders,” said Lowell S. Dansker, Chairman and Chief Executive
Officer of the Company and Intervest National Bank.
About Intervest Bancshares Corporation
Intervest Bancshares Corporation (IBC) is a bank holding
company. Its operating subsidiary is Intervest National Bank (INB),
a nationally chartered commercial bank that has its headquarters
and full-service banking office at One Rockefeller Plaza in New
York City, and a total of six full-service banking offices in
Clearwater and Gulfport, Florida. IBC’s Common Stock is listed on
the NASDAQ Global Select Market: Trading Symbol IBCA. This release
may contain forward-looking information. Words such as “may,”
“will,” “could,” “should,” “would,” “believe,” “anticipate,”
“estimate,” “expect,” “intend,” “plan,” “project,” “assume,”
“indicate,” “continue,” “target,” “goal,” and similar words or
expressions of the future are intended to identify forward-looking
statements. Except for historical information, the matters
discussed herein are subject to certain risks and uncertainties
that may adversely affect our business, financial condition and
results of operations. The following factors, among others, could
cause actual results to differ materially from those set forth in
forward looking statements: changes in economic conditions and real
estate values both nationally and in our market areas; changes in
our borrowing facilities, volume of loan originations and deposit
flows; changes in the levels of our non-interest income and
provisions for loan and real estate losses; changes in the
composition and credit quality of our loan portfolio; legislative
or regulatory changes, including increased expenses arising
therefrom; changes in interest rates which may reduce our net
interest margin and net interest income; increases in competition;
technological changes which we may not be able to implement;
changes in accounting or regulatory principles, policies or
guidelines; changes in tax laws and our ability to utilize our
deferred tax asset, including NOL and AMT carryforwards; and our
ability to attract and retain key members of management. Reference
is made to IBC’s filings with the SEC for further discussion of
risks and uncertainties regarding our business. We assume no
obligation to update any forward-looking statements.
Intervest Bancshares CorporationLowell Dansker, ChairmanPhone:
212-218-2800Fax: 212-218-2808
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